• posted by IMV |
  • 14/8/2018

After a sharp rally from 480 – 680 odd levels we have seen a long phase of consolidation of more than 3 months. Finally the stock seems to be breaking out of the the range with huge volume. This breakout is also backed by the strong Q2 FY19 numbers. The stock has breached its short term range of 640 and is ready to move on the upside. We expect the  the rally to remain continue till the nearest level of 680. Above 680 the stock can give a...

  • posted by IMV |
  • 14/8/2018

Fundamental Aspect:Chana futures settled the session higher supported by good demand in physical market. Earlier, chana surged during July as government has extended the imports ban for dry peas for three more months. New notification says that pea import can't take place till 30 Sep 2018. It is applicable for all peas. It surged 24.3% or Rs. 858 per quintal in July. There are reports that government approved a proposal to sell pulses at...

  • posted by IMV |
  • 14/8/2018

Market OutlookNifty Aug future in last trading session showed weakness, after a gap down opening tested the low of 11354.05 & due to selling pressure closed at 11381.15 (-58.10 pts ), mostly traded with downwards bias. Call writing is seen at 11400 & 11500 strike prices & put unwinding is seen at 11400 & 11500 strike price. It suggests that 11460 – 11510 range will act as a resistance for short term. Uptrend will resume only above...

  • posted by IMV |
  • 14/8/2018

The Indian rupee registered a sharp decline against the US dollar as the biggest single-day drop in past five years. That marked the Indian currency's all-time closing low against the greenback. Other emerging market currencies plunged as investors preferred safe-havens such as the US dollar and the yen after a plunge in the Turkish Lira. The lira has fallen about 45 per cent against the US dollar so far this year on worries over Turkish...

  • posted by IMV |
  • 14/8/2018

        Nifty Future Nifty continued its red terrain and almost hit our target of 11350 ended first day of the week on lower note with a loss of half a percent. On daily chart Nifty has formed spinning top pattern. If Nifty break below 11270 and sustain this level. It will take it to 11150 levels. More and more downside panic will see only close below 11150 mark.  Sell Nifty below 11270 with...

  • posted by IMV |
  • 13/8/2018

Gold traded lower in global market amid rise in dollar index. The dollar extended it gains against major currencies like Euro and Turkish lira and Russian Rubal after U.S decided to put sanctions on Russia amid assassination of Russian spy case. Which further escalated the tension between two countries and supported gold, but the gain was soon lid by extended dollar as investors put forth their interest in dollar more than the safe heaven, which...

  • posted by IMV |
  • 13/8/2018

NIFTYSupport at 11350 and resistance at 11510. Break and close below 11350 will take to 11200---11100 and then to 10900 mark in days to come else it could test its resistance level of 11450---11510 again. Fresh buying will initiate only close above 11510 markBank NiftySupport at 27800 and Resistance at 28400Break and close below 27800 will take to 27400---27000 mark else it could test its resistance level of 28400 againFresh buying will...

  • posted by IMV |
  • 13/8/2018

Fundamental Aspect:Soybean future price settled the weak with lower bias as market participants forecast of good rains in the central India after a brief dry spell. The area under soybean in the country increased by 10.6% at 10.9 lakh ha as of last week compared to last year sowing, according to data released by the farm ministry. Moreover, the arrivals have also declined by about 38% in July to 2.55 lakh tones compared to last year same month...

  • posted by IMV |
  • 13/8/2018

Indian rupee weakened sharply against U.S Dollar on the back of rising wave of global currency turbulence amid fears of escalation in trade tensions worldwide. The Indian rupee hit a fresh 3-week low during the session. Forex market sentiment wobbled once again in line with sell-off in other emerging market currencies hit by the sudden wave of risk-off on mounting fears over a political crisis in Turkey. The Turkish lira plunged nearly 14% after...

  • posted by IMV |
  • 13/8/2018

Economic Times● Narendra Modi on Indian economy: The ‘elephant’ is running on the right path● DGCA to conduct financial audit of Jet Airways● Rafale deal from Dassault, not defence ministry: Reliance Group● Narendra Modi may push financial inclusion drive in I-Day speech● Indian Oil profit jumps 50% in June quarterBusiness Standatd● Q1 results: Coal India profit surges 61% to Rs 3,786 crore● Monsanto fined $289 million in world’s first Roundup...