Friday, December 08, 2017

Market Pulse
Market witnessed strong bounce yesterday and Nifty close with a massive gain of 122 points. It was a gap up opening followed buy sustained buying till the end. Sharp fall in oil prices in global commodities market yesterday, 6 December 2017 also boosted investors sentiment.
Needless to say, most of the sectors and thematic indices performed well and closed in the green with Infrastructure sector outperforming all others. Consumption index seconded it with 2.17% gain. However, the pharma index settled flat with a nominal gain of 0.25%.

Key benchmark indices extended early gains and hit fresh intraday high in morning trade,  today. At 10:23 IST, the barometer index, the S&P BSE Sensex, was up 235.46 points or 0.71% at 33,184.67. The Nifty 50 index was up 75.45 points or 0.74% at 10,242.15.

Among secondary barometers, the BSE Mid-Cap index was up 0.86%. The BSE Small-Cap index was up 1.02%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,589 shares rose and 571 shares fell. A total of 108 shares were unchanged.

The trend of the market:
#Hourly - Up
#Daily - Up
#Weekly - Down.

Demand Levels:
#Nifty - 10100 and 10065
#Bank Nify - 24950 and 2487

Supply Levels:
#Nifty - 10200 and 10240
#Bank Nifty - 25145 and 25300

Overseas, Asian stocks were trading higher following a broad-based rally in US equities. Japan's economy grew at a much faster pace than initially estimated in the July-September quarter. The nation's gross domestic product grew at an annualized pace of 2.5% from the previous three months, according to government data released Friday.

US stocks closed higher Thursday, with the S&P 500 snapping a four-session losing streak on the back of gains in the technology, industrials and materials sectors. Traders looked ahead to the monthly jobs report due Friday. Initial US jobless claims, a way to measure layoffs, fell by 2,000 to 236,000 in the seven days ended 2 December 2017. The S&P 500 index rose 0.29%, while the Dow Jones Industrial Average added 0.29%, to 24,211.48. The tech-heavy Nasdaq Composite Index rose 0.54%.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1075.62 crore yesterday, 7 December 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 926.68 crore yesterday, 7 December 2017, as per provisional data.

Among corporate news, Power Finance Corporation (PFC) said that the company has successfully closed the deal for issuance of $400 million Green Senior Unsecured Notes offering at a fixed rate coupon of 3.75% from the international debt capital markets under Regulation S of the U.S. Securities Act of 1933 (as amended) on 6 December 2017 and completed the formalities for listing at Singapore Exchange (SGX-ST) and International Securities Market segment of the London Stock Exchange. The announcement was made after market hours yesterday, 7 December 2017.

#Among my recently recommended counter, Suzlon Energy Ltd (Rs.14.10) is up more than 2%. Yesterday, the stock was strongly recommended after the news came in that the dispute over lockout declared by manufacturer of wind turbines, Suzlon Energy Ltd, for its unit near Padubidri is over - an agreement was arrived at between the workers of the company and the management, the friction has seen a happy ending. The 15-day standoff is finally over and as per the agreement, all the 326 workers facing axe will be able to report for duty. This time the scrip could cross Rs.20.

#Videcon Industries Ltd (Rs.20.40) hit another Buyer Freeze. Jai Balaji Industries Ltd hit another buyer freeze at Rs.20, but you should book some profit in this counter.

#Havells India Ltd (Rs.538.50) recommended yesterday at around Rs.521, made a high of Rs.540 today, in the NSE. The traders are suggested to book full profits in the counter.

#Gitanjali Gems Ltd (Rs.75) recommended at around Rs.66-67, is showing some positive movements today. You can continue to hold the scrip with a SL at Rs.71, for short term targets of Rs.82-87.

Today's Calls:
#Buy Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) at around Rs.465-467 with a STOP LOSS below Rs.449, T: Rs.492.

#Intraday SELL V-Guard Industries Ltd at around Rs.234.75, SL: Rs.238, T: Rs.230.

# Buy Bank Nifty Futures at around 25280, SL below 24190, T:  25375 - 25420. Book PARTIAL PROFIT around 25356, trail the rest to COST.

#Buy Sun TV Network Ltd at around Rs.860-861, SL: Rs.848, T: Rs.882-892 on T+4 basis.  Book PART PROFIT at around Rs.871.50.

# Intraday SELL JPYINR on rise at around Rs.57.07, SL above  Rs.57.15, T: Rs.56.95.

~~ with inputs from Brokerage Reports and Capital Market - Live News..

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