Tuesday, September 25, 2018

Winning Strokes: Think Different
The market ended the volatile session with decent gains as bargain hunting emerged after steep losses in past few trading sessions. The barometer index, the S&P BSE Sensex, rose 347.04 points or 0.96% to 36,652.06, as per the provisional closing data. The Nifty 50 index rose 100.05 points or 0.91% to 11,067.45, as per the provisional closing data.

Among secondary barometers, the BSE Mid-Cap index rose 0.36%. The BSE Small-Cap index fell 0.74%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1081 shares rose and 1570 shares fell. A total of 174 shares were unchanged.

IT major Infosys rose 1.22%. Infosys announced that Infosys Public Services Inc. (IPS) received a CAD $80.3 million contract by Public Services and Procurement Canada (PSPC) to modernize and automate their procurement processes. IPS is working with Ernst & Young LLP (EY) and SAP Canada Inc. (SAP) to digitize PSPC procurement system through the implementation and management of a cloud-based electronic procurement solution. The announcement was made after market hours yesterday, 24 September 2018.

Asian stocks were mixed. Markets in Hong Kong and South Korea are closed for public holidays. Investors were cautious as the latest round of US-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases.

On the US economic data front, the Chicago Fed's national activity index came in at 0.18 in August, unchanged with the previous month.

#Profit Booking was suggested on Nifty Futures yesterday. The Premium Members were sent following messages on their Whatsapp on Sunday: "Nifty can slip to 11068 and 10863 on the downward spiral. Any dead cat bounce should be used to short. The Weekly RSI (of Nifty) stood at 53.8861 and has marked a fresh 14-period low, which is a bearish indication. The daily RSI is at 37.14, which is also does not favour the bulls. 
Bottomline: SELL."
I hope most of the members of my Premium Information  Service, who shorted the Nifty on Monday have made good profits on their trades. Today obviously the Nifty bounced back as expected and closed at 11,067.45 up 100.05 point or 0.91%. To get such calls, you need to Join my Premium Information Service. 

#However, compulsory Buyers were asked to accumulate the stock of Max India Ltd at around Rs.81 and at every market decline, yesterday for good medium to long term return. The stock closed at Rs.83 in the NSE today. We are looking for short term targets of Rs.91-92, in the coming weeks. Max India Limited, a multi-business corporate, is part of the US$ 3 billion Max Group and the holding company for Max Healthcare, Max Bupa Health Insurance, etc. Keep accumulating!! However, this is a NOT a momentum counter. 

#An exit was suggested from the scrip of HDIL at around Rs.28 to the Premium Members after it was finding hard to cross some key resistance levels. Most  of my Paid Members booked profits at around Rs.35-36 -- the scrip closed at Rs.21.95 today. Stay with me and make money. 

#Though Nifty Spot has given a close at 11067.45 with a gain of around 100.05 points, it is likely to face resistance at around 11075, from where the shorts could be initiated, with a SL at 11370,

#The scrip of MOIL Ltd can be accumulated at the CMP of Rs.173,95, with a SL at Rs,171. State-owned MOIL is looking to develop high-grade manganese  for batteries which could be used in electric vehicles (EVs). This stock could be the next big thing as the sale of electric vehicles picks up steam in the coming days. The government of India is aggressively pushing for electric vehicles to curb air pollution. Buy with a 2-3 years perspective, and hold it like your Fixed Deposits. 

~~with inputs from Capital Market Live News....

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