Daily Newsletter - Equity 12-Apr-2016
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Market Wrap INDIAN MARKET OVERVIEW
Bulls came back in power on Monday as equity benchmarks rallied sharply after losing 2 percent last week. Late buying in technology, auto, FMCG and banks lifted the Sensex above 25000-mark and Nifty above 7650 level. Nifty future up by 124 point at 7702. The BSE Sensex rose 348 points and closed at 25022. Market breath was strong as about 1491 shares advance while 1104 shares declined. Bharti Airtel surged more than 4 percent on acquisition of 4G spectrum from Aircel in 8 circles that helped company become Pan-India 4G operator. Tata Steel advanced 2.8 percent. After market hours, the company announced that its UK subsidiary will sell long products Europe business to Greybull Capital for nominal consideration.
GLOBAL MARKET OVERVIEW
Asian markets were lower in early Monday trade, ahead of a series of market-moving economic data due this week. Australia's ASX 200 was off 0.25 percent, weighed by a 0.48 percent decline in the heavilyweighted financials subindex. The energy subindex advanced 1.51 percent, while the materials subindex was up 0.63 percent. A sharp rally in crude oil and energy shares lifted US stocks on Friday, but indexes registered losses for the week. The Dow Jones industrial average closed up 35 points, to 17576, the S&P 500 gained 5.69 points to 2047 and the Nasdaq Composite added 2.32 points to 4850.
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Technical Outlook Nifty Technical Overview:
Nifty futures opened with flat note and witnessed downside movement in most part of the day by taking support at 7540 level and sharp recovery in later part of the day. It broke the level of 7700 and closed above it. Tomorrow it is expected to show upside movement but it can take slight correction and if it breaks 7720 then upside movement is expected. R2
R1
Pivot
S1
S2
7828
7765
7649
7586
7470
Nifty Strategy
Buy on dips
Bank Nifty Technical Overview:
Bank Nifty futures opened with flat note and witnessed downside movement in most part of the day by
taking
support
at
15500
level
and
recovered sharply in later part. It broke the major resistance level of 15900. Tomorrow if it sustain above the level 15800 and break then bullish movement is expected. R2
R1
Pivot
S1
S2
16230
16063
15771
15604
15312
Nifty Strategy
Buy on dips
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Market Statistics Index PE Index PE
11 Apr 2016
Nifty
21.07
Sensex
18.97
Nifty Gainers/Losers Symbol
Close Price
IDEA
% Change
5.30 AMBUJACEM
20,000.00
HINDALCO
Close Price
5.87 LUPIN
115.45
BOSCHLTD
Symbol
4.62 DRREDDY
91.75
BANKBARODA
149.50
4.47 CIPLA
ADANIPORTS
228.85
4.38 ULTRACEMCO
% Change
1,520.00
-1.31
223.90
-0.82
3,021.65
-0.58
503.00
-0.29
3,150.00
-0.28
FII & DII Trading Activity (In Crores) CATEGORY
DATE
BUY VALUE
SELL VALUE
NET VALUE
FII
11 Apr 2016
4907.60
4800.37
107.23
DII
11 Apr 2016
1382.93
1079.05
303.88
Other Information Securities in Ban Ex-Dividends Board Meeting
DIC India, KSB Pumps Autopal, Bajaj Corp, FCS Software
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Current
Previous
Repo Rate
6.75%
7.25%
Reverse Repo Rate
5.75%
6.25%
Cash Reserve Ratio (CRR)
4.00%
4.00%
Statutory Reserve Ratio (SLR)
21.50%
21.50%
Index of Industrial Production (IIP) M-O-M
6.40%
4.10%
Gross Domestic Production (GDP) Y-O-Y
7.40%
7.00%
Wholesale Price Index (WPI) M-O-M
- (4.54%)
- (4.95%)
Consumer price Index (CPI) M-O-M
4.41%
3.66%
Today’s Stock Recommendation
Technical Overview: Stock recommendation for 08/4/2016 is Vadilal Industries Ltd. We picked Vadilal as a seasonal stock. The stock is in tight consolidation since three weeks, a break out is expected now as season also picked up. 21 day EMA over 200 day EMA also signals up trend. We recommend a buy above 662 level with the target of 690 and 710. It holds a strong support near 630.
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