Market Update

Market Update:
Sgx Nifty +36 pts
Dow +47.24 pts ,Nsdq -26.65 pts , S&P‎ +2.32 pts ,Bovespa +175 pts, Ftse -49 pts , Dax -33 pts, Cac -13 pts, Nikkei  +334 , now, Crude @ $44.89 brl (-0.34), Brent @ $48.23 (+0.89) , Gold @ $1125.40 (-1.40), Silver @ $14.57(+0.00), Euro @ $1.1257, JPY @ $119.8800, INR @ $65.9550

Markets Today

Markets Today

The trend deciding level for the day is 7,856 levels.

If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 7,907 – 7,946 levels.

However, if NIFTY trades below 7,856 levels for the first half-an-hour of trade then it may correct towards 7,817 – 7,765 levels.

FII Activity

FII Activity

 FIIs were net sellers in both cash market segment and in Index Futures. They sold equities to the tune of Rs. 115 crores and Index Futures of Rs. 632 with significant fall in OI due to expiry.

 In Index Options, they bought in a big way of Rs. 3643 crores with fall OI. Being start of new series build-up is quite scattered. In call OI addition was seen in the range of 7800-8300 strikes and in put options was seen between 7400-7900 strikes. Maximum OI is seen in 8300 call and 7800 put options.

 Rollover in Nifty is on the lower side at 61.22% and of BankNifty is one the higher side at 67.37%. We believe it is more of short that got rolled in October series. BankNifty has strong resistance at 17200- 17300 while 8150-8200 is a major resistance for Nifty. We don’t expect major upside in this market

News today

News

Ø  Foreign investors get relief from controversial MAT

Ø  Marriage of Regulators: FMC to merge with Sebi

Ø  Mobiles to fall under separate category in revised IIP

Ø  Lenders approve higher cost in 4 Lanco projects

Ø  Russian traders want JV with Indian tea cos

Ø  Maruti's agitating workers chalk out future strategy

Ø  NALCO to invest over Rs 65K cr for new projects

Ø  FIPB to take up 31 FDI proposals on Tuesday

Ø  India will be $20-trillion economy: PM at Facebook event

Ø  Rajeev Agarwal to oversee commodities at Sebi

Ø  FPIs in selling mode, take out Rs 6,000 cr in Sept

Ø  Top six cos take Rs 53,886 cr hit in market valuation

Ø  MMTC to produce, market sovereign gold coins

Ø  ICICI makes aggressive push in unsecured loans

Ø  JPMorgan schemes to hive off Amtek holdings

Ø  Liberty to raise stake in joint venture with Videocon to 49%

Ø  SEBI steps up measures against SMS, social media scams

Ø  India will play big part in driving technology forward: Pichai

Ø  Lenders want Amtek promoters to inject some equity first

Ø  Four SME IPOs to hit capital markets this week

Ø  BSE gets shareholders’ nod to list its shares

Ø  Moser Baer to focus on LED products, targets ₹500-cr market size in 3 years

Ø  Govt to complete spectrum harmonisation by December end

Ø  Xi Jinping pledges $2 billion for South-South cooperation

Ø  Laid-off Ssangyong workers in Mumbai seeking reinstatement: Mahindra

Ø  German transport authority asks Volkswagen to present car clean-up plan

Ø  Narendra Modi shows keen interest in Tesla technology

Ø  Modi invites Apple CEO Tim Cook to set up manufacturing base

Ø  SAIL invests Rs 2,600 cr in Rourkela plant for hot rolled coils

Ø  Qualcomm announces to invest $150 mn for Indian start-ups

Ø  ITC aims Rs 18K cr revenue from agriculture business by ‘21

Ø  US FDA revokes approval for Sun Pharma's seizure drug over compliance issues

Ø  MFs go slow on debt investments in Sept

Ø  Stamp duty may be scrapped on property transfers to Reits

Ø  Farmers may get right to sell crop at benchmark

Ø  Agri-commodities expect upside in medium term

Market Update

Market Update:
Sgx Nifty -18 pts (7877) Nifty Fut(7895)
Dow +113.35 pts ,Nsdq -47.98 pts , S&P‎ -0.90 pts ,Bovespa -460 pts, Ftse +147 pts , Dax +260 pts, Cac +133 pts, Nikkei  -222 , now, Crude @ $45.41 brl (-0.29), Brent @ $48.39 (-0.26) , Gold @ $1146.10 (+0.50), Silver @ $15.11 (0.00), Euro @ $1.1209, JPY @ $120.2900,

FII Activity

FII Activity

 FIIs continue selling in cash market segment; they sold to the tune of Rs. 1330 crores. In Index Futures they bought of Rs. 173 crores with rise in OI, suggesting fresh long formation in last trading session.

 In Index Options front, they bought of Rs. 1463 crores with some rise in OI. In call options, we hardly saw meaningful OI addition, good amount of unwinding was seen in 7800 call option. On the other hand in put options, huge build-up was seen in the range of 7600-7750 put options, followed by significant unwinding in the money put strikes 7800-8200 put options. Maximum OI is seen in 8000 call and 7600 put options.

 FII’s has been adding meaningful shorts in Index Futures in past few days and we believe they are forming these shorts in October series which suggests continuation of pain in market. We would stick to our view, that it’s a sell on rise market. Avoid forming fresh longs in Index.

 Roll-over in Nifty and BankNifty is 49.87% & 49.17% respectively.

Markets Today

Markets Today

The trend deciding level for the day is 7,817 levels.

If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 7,911 – 7977 levels.

However, if NIFTY trades below 7,817 levels for the first half-an-hour of trade then it may correct towards 7,752 – 7,658 levels.

NIFTY Levels

Pivot - 7,658
Support - 7,752 7,817
Resistance - 7,911 7,977

Market Outlook

Market Outlook

Indian markets are expected to open flat tracking the SGX Nifty and Asian cues.

The US markets closed flat showing a lack of direction reflecting continued uncertainty about the outlook for U.S. monetary policy following last week's Federal Reserve decision.

European markets ended in the green led by bargain hunting at lower levels and improvement in market sentiment on account of rebound in shares of Volkswagen after 2 days of sharp declines.

Indian equities opened lower but recovered during the day on account of positive cues from Europe and comments from Chinese President Xi Jinping that a cheaper currency would not be used to boost exports.

News & Result Analysis

 RBI eases overseas borrowing rules for domestic companies

 Bajaj Auto quadricycle (RE60) receives certification under European WVTA regulations; can commence exports Refer detailed news analysis on the following page

SELL Nifty oct

SELL NIFTY OCT 8100CE AND NIFTY 7500PE @ 148-149 SL 157 TGT 132

Market Update

Market Update

Sgx Nifty -27 pts

Dow -50.58 pts ,Nsdq -3.98 pts , S&P‎ -3.98 pts ,Bovespa -924 pts, Ftse +96pts , Dax +41 pts, Cac +4 pts, Nikkei  -295 , now, Crude @ $44.77 brl (+0.29), Brent @ $47.95 (+0.20) , Gold @ $1130.90 (-1.10), Silver @ $14.79(0.00), Euro @ $1.1180, JPY @ $120.1900, INR @ $65.9875

Today News

News

Ø  CIL may revise Rs 60K-cr capex: Coal India chief

Ø  China, Europe & US data show bleak growth outlook

Ø  Record response to NTPC's tax-free bonds at Rs 4,400 crore subscription

Ø  Need to infuse more capital into ARCs : Ind-Ra

Ø  Fitch threatens to downgrade Volkswagen over pollution scandal

Ø  No progress for business in China without reform, says Xi

Ø  RBI eases overseas borrowing rules for domestic companies

Ø  L&T to sell assets, dilute stake in non-core businesses: Naik

Ø  Small banks in Rs 4,000-cr fix to raise domestic funds

Ø  Rural Electrification Corp to extend Rs 9K cr loan to Andhra

Ø  Iran has offered natural gas to India at $2.95 per unit for urea plant, says Gadkari

Ø  Flipkart confirms valuation at $15.2 billion

Ø  Rating slashed to default for GMR's road project

Ø   IEX stake: Financial Tech to shed more to five buyers

Ø  Sterlite Technologies acquires Elitecore Technologies

Ø  No need for regulating algo now: Jhunjhunwala

Ø  CCI to conduct survey on healthcare sector

Ø  Pfizer to sell vintage Thane plant to Vidhi Research for Rs. 178 crore

Ø  Nestle signs deal with biotech firm to develop Alzheimer's test

Ø  India’s spending on IT may rise over 5% to $6.88 bn this year: Gartner

Ø  Govt panel finds no evidence of data manipulation at GVK Biosciences

Ø  Lenders take over Visa Steel under SDR rules

Ø  Etihad to buy bonds to help Jet Airways recast debt

Ø  L&T opts out of GAIL tender to build LNG carriers locally

Ø  Apollo International, Lycos form e-commerce JV

Ø  Sensex closes 171 points up on value buying, Nifty settles at 7,846

Ø  China's pain can't be India's gain: Chinese media

Ø  Monsoon deficiency has dropped by 3 per cent: IMD

Ø  Pharma companies growth may remain moderate in Q2: BofA-ML

Ø  Ajanta Pharma to replace Aditya Birla Nuvo on Nifty Midcap 50

Ø  TRAI to firm up position on net neutrality soon

Ø  Sahara's Plaza world's top-ranked hotel for super-rich

Ø  Asian business sentiment crumbles on China shock

Ø  SKS Micro lowers rate by 1.25% for new disbursals

Ø  Balmer Lawrie lines up Rs 400 crore capex

Ø  Restrictions on stocking pulses, edible oils extendedMarket Update:

Business Line

Business Line

Ø  Ricoh looking at Digital India projects to drive revenue growth

Ø  Air India inaugurates Airbus A-320 training for external pilots

Ø  After 10 years, MakeMyTrip turns to hotels, packages to drive growth

Ø  Defamation suit against website: HC stays Rs. 50-lakh penalty on NSE  

 

Ø  Google aims to make India a hub for app development

Ø  Amtek Auto fails to meet bond redemption deadline

Ø  Aditya Birla Minerals to sell Australia copper mine to Lighthouse Minerals

Ø  Power Grid gets shareholders nod to raise Rs14,000 crore in FY17

Ø  OVL chasing $712 million in dues from foreign govts

Financial Chronicle

Financial Chronicle

Ø  GE says no to Nuclear-power plants in India, cites liability risks

Ø  Give govt access to Whatsapp messages, emails: Draft National Encryption Policy

Ø  Black money: Declare foreign assets by Sep 30 or face consequences, says FinMin

Ø  Sensex ends flat to settle at 26,193; Nifty closes at 7,977

 

Ø  RBI may cut policy rate by 25 bps on Sep 29: Report

Ø  US-based healthcare tech company to invest `750 cr

Ø  Domestic MFs have got $18b of inflows in 1 year: Sikka

Ø  Indian IT cos among world's worst paymasters

Ø  Centre will no longer bail out defaulting discoms

Economic Times

Economic Times

 

Business Standard

Ø  Infy bags Rs 1,320cr contract to build GST Network

Ø  India's Ashok Leyland plans to list financing arm

Ø  Oil prices up 2 per cent after US drilling falls

Ø  Enhanced southwest monsoon to bring good rains: IMD

Ø  Adani eyes 20% growth in Rs 20K crore agro biz

Ø  Declare foreign asset by September 30 or face consequences: Finance Ministry

 

Ø  Bain Capital acquires 10% stake in L&T Fin for Rs 1370 cr

Ø  LIC big market player, not only to bailout divestment: FM

Ø  Call drop issue: Bharti Airtel moves all prepaid users to per-second plan

Ø  Govt considers FDI cap hike in DTH, cable networks; Dish TV up 4.5%

Ø  Godrej & Boyce aims at Rs 10,000 cr turnover this year

Ø  Corporate tax exemptions phase-out may end MAT

Market Update

Market Update:
Sgx Nifty +2 pts
Dow +125.61pts ,Nsdq +1.73 pts , S&P‎ +8.93 pts ,Bovespa -673 pts, Ftse +4 pts , Dax +32 pts, Cac +49 pts, Nikkei  Cls , now, Crude @ $46.22 brl (-0.46), Brent @ $48.57 (-0.35) , Gold @ $1131.90 (-0.90), Silver @ $15.18(-0.04), Euro @ $1.1194, JPY @ $120.4000, INR @ $65.7388

market segment

 Friday, FIIs were net buyer in both cash market segment and in Index Futures. They bought equities to the tune of Rs. 643 crores and Index Futures of Rs. 470 with good amount of rise in OI, suggesting mix of long and short formation in last trading session.

 In Index Options front, they bought significantly of Rs. 2858 crores with some fall in OI. In call options, we hardly witness any fresh OI build-up, meaningful unwinding was seen in the range of 7800-8300 call options. While in put options, 7900 & 8000 strike added decent OI, followed by unwinding in out the money put strikes. Maximum OI is seen in 8200 call and 7500 put options.

 Surprisingly, we saw buying figure in cash and Index Futures in last trading session. In Index futures mixed positions were formed, while in options, we saw FIIs covering their shorts formed in call options. Fresh put buying was also visible. We suggest avoid forming longs in Nifty till we see continuation of meaningful buying.

Economic Times

Economic Times

 

Business Standard

Ø  Resolution of pending tax disputes in works: FM

Ø  Better return on investment in India: FM

Ø  Companies Act to be fully implemented by Mar 2016

Ø  India's merchandise exports slide as commodity prices dip

Ø  BPCL set to start work on Rs 5k-cr complex in Kochi

Ø  Govt examining oil cos' demand to lower cess

Ø  Ambanis unite against GSM rivals' proposals to DoT

 

Ø  PSUs' capex down 24% in 2014-15

Ø  Petrol, diesel contribute Rs 30,000 cr addl excise in Apr-Aug

Ø  Rates should come down, but RBI final authority: Jaitley

Ø  BSE eyes 10 times faster trading speed in next few months

Ø  SFIO report on Kingfisher Airlines at least 6 months away

Ø  Govt may raise FDI cap to 100% in DTH, cable networks

Ø  PowerGrid to set up lines to link solar parks with ISTS

Business Line

 

Mint

Ø  Steel makers build case for anti-dumping duties on imports

Ø  Jaitley seeks foreign investments for infra, other sectors 

Ø  Registered research analysts rises to 121 as of July: SEBI 

Ø  Stanchart revises FY16 CAD forecast to 1.5% of GDP

Ø  Fortis to use drones to transport organs 

Ø  Xander to acquire distressed assets  

 

Ø  Bad loans: IDFC gets RBI nod for using Rs.2,500 cr reserve as provision

Ø  Sun Pharma sells Ranbaxy divisions to Strides Arcolab for Rs165 crore

Ø  Govt policy on spectrum trading, sharing could boost service quality

Ø  DLF to open Rs300-crore Emporio Mall in Delhi by May 2016

Ø  NTPC gets shareholders nod to raise Rs.5,000 cr

Financial Express

 

Financial Chronicle

Ø  Sebi widens black money probe; offshore arbitrage under regulator's lens

Ø  Delhi power gencos charging 50% more than the NTPC’s rate: Tata Power

Ø  In real distress, developers join forces to get projects off ground

Ø  Top 10 BSE Sensex companies add Rs 74,521 cr in market cap

 

Ø  $4b Indian cyber security segment is expected to grow

Ø  A divided Fed pits world's woes against domestic growth

Ø  India insulated from economic fallout, says Jaitley

Ø  Top 10 Sensex cos add Rs 74,521 cr in market cap

Ø  SBI expects less slippages, asset quality improvement

Market Update

Market Update:
Sgx Nifty -56 pts from Nifty fut(7896)
Dow -290.16pts ,Nsdq -66.72 pts , S&P‎-32.17 pts ,Bovespa -1290 pts, Ftse -82 pts , Dax -313 pts, Cac -119 pts, Nikkei  Cls , now, Crude @ $44.93 brl (+0.23), Brent @ $47.62 (+0.15) , Gold @ $1136.50 (-1.30), Silver @ $15.15(-0.01), Euro @ $1.1304, JPY @ $119.8200, INR @ $65.6738
 

Buy ONGC

Buy ONGC

The stock has corrected significantly in the last few months and has reached around its support area of 215 – 220 zone in the monthly chart. While, on the weekly chart, we are observing a formation of a bullish harmonic pattern called ‘Bullish Bat’ pattern, whose Potential Reversal Zone (PRZ) is placed at 220 – 226 levels. On oscillator front, the ‘RSI- smoothened’ is giving positive crossover with its average from the oversold territory in the daily chart, indicating reversal on cards. Looking at the current chart structure, we advise traders to buy this stock at current levels and on declines to ` 232 for a target of ` 252 in coming 14 to 21 trading sessions. The stop loss for this trade set up can be kept at ` 224.

trend deciding level

The trend deciding level for the day is 7,889 levels.

If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 7,924 – 7,949 levels.

However, if NIFTY trades below 7,889 levels for the first half-an-hour of trade then it may correct towards 7,864 – 7,828 levels.