Intraday Stock
Cash Tips:-
BUY GODFRY ABOVE 1370 TG-1379-1390 SL 1351.9
BUY NAVINFLOUR ABOVE 1940 TG-1955-1975 SL 1907.85
SELL ATUL BELOW1643 TG-1630-1615 SL 1661.9
SELL 8K MILES BELOW 1805 TG-1790-1772 SL 1827.85
Market Position :-
The market has opened lower dragged by weak global cues.
The Sensex is down 50.61 points or 0.2 percebt at 25768.73, and the Nifty is
down 9.70 points or 0.1 percent at 7839.55. About 351 shares have advanced, 202
shares declined, and 47 shares are unchanged. Maruti, Tata Steel, ICICI Bank,
Hindalco and Bharti Airtel are major losers while GAIL, Wipro, HDFC twins, Hero
are gainers in the Sensex. The Indian rupee gained in early trade. It has
opened higher by 10 paise at 66.37 per dollar against 66.47 Monday. NS
Venkatesh of IDBI Bank said, "Rupee weakened against the dollar yesterday,
mainly due to dollar strength against all currencies and demand from importers
and closed at 66.47/dollar. The market was also supported by PSU banks selling
dollar."
Indian Market Overview:-
Nifty closed on flat note after a choppy
movement for the day. Nifty declined by 7 points toØ end at 7849. The 30-share BSE Sensex down by 49 points and
closed at 25819. However, the BSEØ
Midcap index gained 0.4 percent and Small cap rose 0.5 percent Tata Motors was down 0.25 percent as Goldman
Sachs has downgraded the stock to sellØ
from neutral as it believes the stock has priced in better H2FY16 volume growth
and margin after H1FY16 slump. The
Finance Ministry has recently proposed a roadmap for the phasing out of all taxØ exemptions by the
industry. According to proposal sunset clauses with regards to tax exemptions
will be renewed and no weighted deduction will be allowed for any specified
business activity from April 1, 2017 onwards.
Global Market
Overview:-
Asian markets opened in green on Monday, following a rally on Wall Street last week asØ investors continue to look out for comments from central bankers on the trajectory of US monetary policy. The Dow Jones Industrial Average closed 91 points, or 0.51 percent, higher at 17,824, theØ S&P 500 ended 8 points, or 0.38 percent, up at 2,089, while the Nasdaq was 31 points, or 0.62 percent, higher to finish at 5,105. Low iron ore prices and oil at sub-USD 45 a barrel are expected to exert strain onØ resources and commodities producers, most of whom opened lower. Oil producers also opened mostly in the red. Santos and Woodside Petroleum shares wereØ down while Oil Search saw a 1.04 percent gain in the morning session.
Asian markets opened in green on Monday, following a rally on Wall Street last week asØ investors continue to look out for comments from central bankers on the trajectory of US monetary policy. The Dow Jones Industrial Average closed 91 points, or 0.51 percent, higher at 17,824, theØ S&P 500 ended 8 points, or 0.38 percent, up at 2,089, while the Nasdaq was 31 points, or 0.62 percent, higher to finish at 5,105. Low iron ore prices and oil at sub-USD 45 a barrel are expected to exert strain onØ resources and commodities producers, most of whom opened lower. Oil producers also opened mostly in the red. Santos and Woodside Petroleum shares wereØ down while Oil Search saw a 1.04 percent gain in the morning session.
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