HIGHER VOLATILITY PERSISTS IN THE MARKETS; NIFTY, BANK NIFTY IS TRADING RANGEBOUND;
Market Outlook – 15 December 2017
HIGHER VOLATILITY PERSISTS IN THE MARKETS; NIFTY, BANK NIFTY IS TRADING RANGEBOUND; OVERALL TREND REMAINS UP; BUYING OPPORTUNITIES SHOULD EMERGE ABOVE 10330; AVOID METAL, FOCUS ON PHARMA AND IT STOCKS;
NIFTY opened at 10229.30 with a gap up of 38 points. Higher volatility remained today in the index. The index first seen a minor decline and made its intraday low at 10141.55. Prices find support there and started an upside rally. The index made its intraday high near 10276.10 and closed at 10252.10 with a gain of 59 points.
.On the daily charts, Nifty is still rotating in a range where support and resistance comes at 10100 and 10330 respectively. This range is getting narrower. The index is contracting in a range of 130 points (10200 – 10330) from last five trading days. Therefore, a breakout from this range may lead to a breakout in larger range also. It is a trader’s job to be patient in this circumstance which makes the trader more responsible for trading. Traders must understand that these phases come repeatedly in choppy markets. Hence avoid trading the index as far as price actions are sideway
BANK NIFTY opened at 25062.40 with a minor gap up of 32 points. Higher volatility remained today in the index. The index first seen a minor decline and made its intraday low at 24888.65. Prices find support there and started an upside rally. The index made its intraday high near 25205.90 and closed at 25162.95 with a gain of 133 points.
Moreover, prices are trading in the middle of a trading range now. However the index closed higher today. The index remained inside its trading range 24850 – 25450. Trading ranges are always difficult to trade. Now, within this range, prices may go up and down, but until a breakout is not confirmed, there is no clarity on the trend. This is the nature of the market, which we have to accept.
We should maintain our patience and wait for the sustain breakout from either of above two levels. Swing traders should avoid trading as far as prices are trading inside this range.
Intraday traders should observe early morning price movements and then trade accordingly for the day only.
|HEXAWARE||324.50||BUY||Intermediate and Short term trends are up in HEXAWARE. The stock has seen a sharp decline and then finds support near 318. We may see an upside rally from this support. Buy this stock above 325. If this trade executes then place a stop at 320 and a target at 335.|
|BHARATFORG||692.05||BUY||Intermediate and Short term trends are up in BHARATFORG. The stock has seen a sharp decline and then started trading inside a range. Prices are now finding a strong support near 685. Buy this stock above 695. If this trade executes then place a stop at 685 and a target at 715.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|BPCL||DEC FUT||BUY||513.5||CMP||507||523||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|WOCKPHARMA.17.12 Dec||763||5.54||9.11||3661600||JUSTDIAL.17.12 Dec||494||-2.78||13.97||2887200|
|HINDPETRO.17.12 Dec||437.15||3.39||2.97||28608300||INDIGO.17.12 Dec||1138||-0.17||9.84||2557800|
|KSCL.17.12 Dec||542.8||2.7||2.42||4002000||TCS.17.12 Dec||2570.2||-2.5||7.53||6927250|
|DCBBANK.17.12 Dec||187.55||2.63||11.29||5544000||AMARAJABAT.17.12 Dec||771||-1.03||7.41||2106000|
|GRASIM.17.12 Dec||1147.65||2.4||2.85||4279500||INDIACEM.17.12 Dec||164||-3.04||7.17||29036000|
|Short covering||Long Unwinding|
|IRB.17.12 Dec||6.27||-3.09||16210000||208.5||ICIL.17.12 Dec||107.35||-2.67||-2.14||10748500|
|FORTIS.17.12 Dec||2.86||-1.15||52474500||135||JISLJALEQS.17.12 Dec||110||-1.83||-1||48114000|
|HDIL.17.12 Dec||2.27||-0.81||35160000||54||PCJEWELLER.17.12 Dec||433.25||-1.82||-7.32||9156000|
|MUTHOOTFIN.17.12 Dec||2.27||-3.55||2979000||424.05||JPASSOCIAT.17.12 Dec||17.75||-1.66||-0.45||2.27E+08|
|HEXAWARE.17.12 Dec||2.15||-0.85||5253000||324.8||SAIL.17.12 Dec||77.8||-1.33||-0.69||79020000|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|HCL Technologies Ltd.||875.2||0.06||3096534||1011234||79.57||Nifty 50||9768.95||0.34||89418|
|Godrej Cons Products Ltd||900.45||-0.79||849778||351721||74.41||Nifty Bank||24008.15||0.82||89418|
|Wipro Ltd||285.9||-0.83||3991666||1665762||72.79||Nifty IT||10521.9||-0.21||89418|
|ICICI BANK LTD.||275.95||-0.16||32223724||12915950||72.34||INDIA VIX||13.17||-4.96||89421|
|HDFC Ltd.||1744.35||1.45||3640524||1990091||70.49||Nifty Pharma||9111.55||0.83||89421|
|Oracle Fin Serv Soft Ltd||3593.3||1.34||34539||14513||69.36||Nifty Infrastructure||3210.8||0.11||89424|
|Zee Entertain. Enterp.Lt||520||-0.76||3202761||924159||69.27||Nifty PSU Bank||3042.2||0.51||89424|
|Bharti Airtel Limited||382.05||-1.01||14570752||1676143||68.52||Nifty Auto||10683.65||0.35||89424|
|Hindustan Unilever Ltd||1202.8||-0.26||3007522||1566060||68.12||Nifty Metal||3501.55||0.7||89424|
|KAJARIA CERAMICS LTD||703.75||1.21||282248||1048664||67.58||Nifty Commodities||3717.65||0.31||89424|
UPCOMING ECONOMIC DATA
|•||•Housing Starts MoM (Nov) on 19th December 2017
•Manufacturing PMI (Dec) on 2nd January 2017
•ISM Manufacturing PMI on 3rd January 2017
|•Drug major Lupin today said it has received approval from the US health regulator to market its Tydemy tablets, used to prevent pregnancy, in the American market. The company has received final approval from the US Food and Drug Administration (USFDA) to market Tydemy, which is a generic version of Bayer HealthCare Pharmaceuticals’ Safyral Tablets, Lupin said in a statement. Tydemy is indicated for use by women to prevent pregnancy and to raise folate levels in women who chose to use an oral contraceptive for contraception.
•Torrent Pharmaceuticals Limited on Thursday announced that it has completed acquisition of branded business of Unichem Laboratories Limited for India and Nepal, including its Sikkim manufacturing facility, on a going concern basis by way of slump sale. This transaction was in pursuance of the definitive binding agreement entered into between Torrent and Unichem on November 3, 2017.
•The Reserve Bank of India (RBI) has imposed Rs 3 crore penalty on IndusInd Bank for breaching rules on income classification norms. A statement issued by RBI said that the penalty was imposed after the regulator observed violation of various regulations issued by the RBI on non-performing loans and extension of non-fund based limits.
Source: Economics Times
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|Company Name||Ex Date||Purpose||Company Name||Ex Date||Purpose|
|HDFCLIFE||15-Dec-17||Interim Dividend – Rs. – 1.3600||FRONTSEC||21-Dec-17||Buy Back of Shares|
|SUMEETINDS||15-Dec-17||Right Issue of Equity Shares||M&M||21-Dec-17||Bonus issue 1:1|
|COLPAL||18-Dec-17||Interim Dividend – Rs. – 4.0000||MANGALAM||21-Dec-17||Interim Dividend – Rs. – 0.5000|
|SHIVTEX||19-Dec-17||Dividend – Rs. – 1.6000||VAKRANG||21-Dec-17||Bonus issue 1:1|
|INDOAMIN||20-Dec-17||Final Dividend – Rs. – 1.0000||WATERBASE||21-Dec-17||Final Dividend – Rs. – 1.0000|
|TULIVE||20-Dec-17||Buy Back of Shares||ZSARACOM||21-Dec-17||Buy Back of Shares|
|BALKRISIND||21-Dec-17||Bonus issue 1:1||JINDWORLD||26-Dec-17||Stock Split From Rs.10/- to Rs.5/-|
|CASTROLIND||21-Dec-17||Bonus issue 1:1||CONFINT||27-Dec-17||Consolidation of Shares|
|CMI||21-Dec-17||Final Dividend – Rs. – 1.0000|
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