During the current week Moon would be transiting from
Poorvashadha in Sagittarius.
transits in Pubbain
transits in Uttara and Hasta constellations
transits in Makha in Leo.
transits in Visakha constellation in Libra and
transits in Visakha constellation in Libra .
transits in Pushyami in Cancer ..
trine Jupiter will take place in the last week of September which is
a Bullish sign and any correction before that time could be an
opportunity to Buy.
Strong Resistance for Nifty at 8075
gained about 0.50% during the Third week of gain and is close to the
magic figure of 8000 mark. After it crossed 7000 mark on 12th
May, it did not go below 7000 and is all set to touch 8000 in the
current week (within a span of 100+ days). Nifty crossed 6000(in the
recent spell on 17th February and did not go below
6000 mark and crossed 7000 on 12th May within 4 months.
Looking at this phenomenon, after crossing 8000, whether it will not
go below 8000??? and cross 9000mark with in another 4 months.. Only
time will tell !!!
has been trading in a narrow range for the last 10 trading sessions
with bullish bias and appears due for wide range days this
week. With GDP showing an uptrend, macro fundamentals are
showing signs of improvement economy can be expected to be rerated
sooner than later.
a mild correction / retracement can be expected for the last Three
weeks’ rise before another round of uptrend.
September month, breakout level for Nifty is 8075 and it is to be
seen whether it would be crossed this week or it would take time to
cross it. Hence, caution at high levels (particularly between 8050
and 8100) is receommended. Further, Nifty has been scaling new high
based on certain scrips but several midcap scrips which had run up
ahead of fundamentals have taken a severe beating in the recent past.
Hence, stock / scrip specific approach is the need of the hour .
economic indicators have turned positive in view of the falling
oil prices as Diesel subsidy is nearly phased out. If
inflation too eases leading to reduction of interest rates,
economic revival would kick in leading to earnings growth and higher
PE too. With a proactive and committed
Government at the centre, it would happen sooner than later. However,
a reasonable correction could
take place before another leg of upmove. On the other hand, if market
remains sideways for a considerable period also, it could be taken
as a correction. Stocks which have run up ahead of fundamentals are
Nifty is bullish in all time frames and very short term trend could
come under threat if it closes below 7900.
50DMA, 100DMA and 200 DMA are placed at about 7785, 7700, 7400 and
6825 respectively and wouldact
as supports. Nifty has taken support from about 50 DMA last Three
times and could be expected to lendstrong
support and a deeper correction could set in only if it closes and
trades below 50 DMA(7700) consistently.
continues to be above 200 DMA and 50 DMA too is above 200 DMA (Golden
Cross) suggesting that the long
term bullish trendis
intact. Nifty is quoting at a PE of about 20.75, which is
about 14% above thelong
term PE multiple. Hence, further upside ( 8500+ is
possible during the year / before next Budget) in
view of the stable and performing Government at the
centre as earnings would go up because of
favourable atmosphere . Hence, it could pullback nearer to long
term average when it gets
is usually ahead of fundamentals and fundamentals need to catch up
with the present valuations whichcould
take some time , hence correction could be expected.
Nifty had been trading in a range of 4600 to 6300 (till 2013) for
more than 4 years and a powerful breakout had
taken place for an initial target of about 8000 / 8500.. Hence
strong long term support would be around 6850 level
and Medium term support is 7400.
RESISTANCE LEVELS : 8045, 8135, 8225
SUPPORT LEVELS : 7865, 7775, 7690.
is in short term bullishness.. It would get out of the
short bullishness only
if it closes below 7900. Nifty is expected to face resistance around
8075 during the week and if it crosses 8075, it would face resistance
for Traders ::
continued its uptrend for Third week and short term uptrend can be
expected to terminate only if it closes below 7900. However, high
risk traders can consider short at high levels with 8075 as strict
stop loss. Further, scrip specific approach is to be followed .
need to accumulate quality stocks while traders need to be ever
stocks today surged up to 8 per cent after the recent increase in
Reliance Jio tariffs, which is largely seen as positive for the
sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs
497.50 on BSE. Bharti Airtel was the biggest gainer among the
30-share index components. The scrip of Idea Cellular soared 7.74 per
cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per
cent to Rs 17.70. Reliance Jio made its service dearer by about 15
per cent for its popular 84-day plan at Rs 459 from October 19, under
which subscribers get 1GB 4G data at high speed per day. The company
restructured its various schemes by reducing their validity period.
The recent increase in Reliance Jio tariffs will increase its average
revenue per user by up to 20 per cent and is a positive for the
telecom sector, which is seeing a rapid consolidation, says a Philip
Capital report. Established telecom sector players have seen huge
reduction in their margins. Idea Cellular and Reli…
drops 244 pts A
late sell-off in auto, banking and IT shares pulled back the
benchmark BSE Sensex from record high level to close down by 244
points, its biggest single loss in past one month, on the first
trading day of 2018. Investors preferred to book profits at record
highs amid concerns over fiscal slippages and rising crude oil prices
and absence of cues from global markets which were closed for the New
Year holiday. The benchmark Sensex touched a low of 33,766.15 before
settling lower by 244.08 points, or 0.72 per cent, at 33,812.75. This
is the biggest single-day fall since December 1 when the index had
lost 316.41. The 30-share index had closed at an all-time high of
34,056.83 in the last session of 2017 on Friday. Also, the 50-share
Nifty cracked below the 10,500-mark to hit a low of 10,423.10 before
settling 95.15 points, or 0.90 per cent down at 10,435.55. Stocks
opened on a weak note and remained range-bound for the better part of
the day but an intense sell-off in…
zero returns from the Nifty, Swiss brokerage UBS has projected a 10
per cent cut in its index target at 10,500 for calendar 2018, even as
it remains positive over the long-term. "Top-down, we forecast
Nifty earnings growth will recover from 9 per cent in fiscal 2018 to
13 per cent in 2019, but driven largely by financials," the
brokerage said in a report. "However, earnings growth is likely
to disappoint against consensus forecast of 22 per cent growth for
fiscal 2019, implying a 10 per cent cut," it added. Accordingly,
the brokerage estimates "no returns from the Nifty in 2018"
and has set the index target at 10,500 for this December. The report
noted that a sharp earnings recovery, with continued robust macro
stability appears priced in by the markets. "A sharp earnings
recovery appears priced in. The markets are already close to our 2018
target, given optimistic fiscal 2019 consensus earnings expectations,
which build …