The index has once again given a flat to a marginal positive start in today's session. Volatility was visible owing to weekly expiry with wild swings on both sides.
Going ahead will be good short-term support for upcoming trading sessions and on the upside will act as new immediate resistance. A hammer candlestick pattern is visible on daily charts indicating that the steam is cooling off and we can see sideways or profit booking sessions in the coming days. The structure of the index is in favor of bulls. Resistance: , , Support: , , Market ended on positive note for the fourth straight session on Wednesday 12 January led by the auto, realty, metal and power stocks.
Market showed directional bias and ended in green for the fourth consecutive day. At close, the Sensex was up points at , and the Nifty was up points at Markets mirrored the gains seen in other global indices as investors lapped up shares of metals, telecom, auto and realty companies.
Also, falling omicron cases also provided some support to the markets, which is gearing up for corporate earnings show. Market showcased a flattish trend with positive bias as the market weighed the expectations of a strong quarter amid concerns over rising cases, supply issue and inflationary pressure. Domestic inflation levels are also likely to be significant due to unfavorable base effect though food prices have declined during December.
At close, the Sensex was up points at After a flat opening, index made an intraday low at levels and managed to close the session above marks at level with a gain of 52 points. Market is expected to give good returns in coming days given the positive expectations of Q3 results and positive global cues. Traders are advised to ride the current rally with strict stop losses to their positions.
We expect the level of to act as major support for the Nifty, which, if broken, might be followed by On the upper side, will act as very strong resistance, which, if crossed, would take the index to We expect banking, auto, IT and realty shares to be in focus now.
Markets started the week on a strong note and gained over a percent, in continuation to the prevailing up move. The benchmark index opened gap-up, tracking positive global cues and traded firm till the end. Indian markets opened on a positive note following mixed to marginally positive Asian market peers as investors await more U. Additional support came as total employment generated by nine select sectors stood at 3.
Traders also took solace as India has begun administering booster doses of the COVID vaccine to frontline workers and vulnerable elderly people. Amongst the sectors, all the indices ended in green wherein capital goods, realty and banking were the top gainers.
The broader markets too participated and gained in the range of 0. Markets are showing tremendous resilience amid the rising COVID cases and the focus would now shift to the earnings season. Amid all, global cues would continue to induce volatility. Apart from banking, participants should focus on metal, energy and select auto counters for long positions. We are now shy away from the psychological mark of and the next leg of the rally would start after surpassing it convincingly. Till then it would be a daunting task for the bulls to overcome the sturdy wall of — The way tables have turned in favor of the bulls in last couple of weeks, it would merely be a formality to overcome this hurdle and then move towards the previous highs.
But before this, we are likely to see some in between profit booking considering the sharp run up in such a short span. On a four hourly chart, index has formed a hammer kind of candlestick pattern which adds bullish momentum for upcoming sessions. However, a momentum indicator MACD trading with a positive crossover on the daily time-frame. At present, the index has support at levels while resistance comes at levels, crossing above the same can show levels.
On the other hand, Bank Nifty has support at levels while resistance at levels. The Sensex surged Nifty Bank rose All sectoral indices, barring pharma, closed higher, with banks, financials, metals, IT, and auto leading the rally.
Indian markets opened on a positive note on the first trading day of the year despite mixed Asian market trade. During the afternoon session markets maintained their upward momentum and continued to trade in positive territory, following gains in auto, banking and realty stocks. Healthy buying was observed in blue-chip stocks.
If the market sustained the level of we can expect it to trade till the range of Technical indicators also support positivity in the market. Emaar Properties will develop a shopping mall in Srinagar, as part of an agreement between the governments of Dubai, and Jammu and Kashmir, to facilitate investments into projects.
I would like to congratulate Emaar and all the partners in this project, and am sure we will see many such projects coming up in the near future. Even as fats spreading Omicron variant of covid threatens to disrupt the economy, business resumption remained high last week in India. This was largely due to a Google workplace mobility index fell 6 pp and the retail, while recreation mobility index rose 0.
Labour participation rate inched down marginally to Nomura said India seems to be on the cusp of a third covid wave. New daily cases rose to 33, as of Sunday from 6, a week ago. Maharashtra, Delhi and West Bengal have reported the bulk of the new cases, but numbers in other states have also been rising sharply, with 1, confirmed Omicron cases so far.
Vaccination pace rose to 6. The company has also been benefiting from the rising trend of the Homebody Economy wherein the consumer spending pattern is shifting towards quality Home utility products. Tailwinds such as strong government policy support further back out thesis. Flooring Solutions to aid growth : The company has extensive experience in distributing and marketing traditional home textile portfolios as well as built deep relationships with various distributors.
Leveraging these advantages, WIL forayed into the Flooring solution market with a wide range of product offerings including Hard and Soft Flooring. The company has entered into a long-term strategic arrangement with one of the largest US-based distributors of hard-flooring and the product has received encouraging traction in other international markets as well. The company also plans to revolutionize the domestic interior and renovation market with this segment and is developing a distribution channel and product marketing for the same.
The company is also focusing on increasing the share of E-commerce and private brands that have higher realizations. Given its long relationship with its consumer, WIL is able to pass on its cost with a time lag, reducing the impact of higher RM on the margins. CASA ratio was at Entry-level demand trends across 2Ws and PVs have remained weak.
OEMs are hoping to stoke consumer sentiment with new launches e. Faster vaccination leading to opening up of workplaces and educational institutes could aid revival of transportation segments e. The stock jumped 3. On the NSE, it rose 3. The Maharashtra government on Saturday announced that property tax on residential units of up to square feet, located within the Mumbai municipal area limits, will be waived off.
According to the urban development minister Eknath Shinde this move will benefit owners of over 16 lakh houses. Don't extrapolate it. Also, this waiver is unlikely to benefit listed developers much given that it applies to projects mostly located towards the outskirts of the city," said an analyst with a domestic brokerage house requesting anonymity.
Investors would reckon that the Maharashtra government had temporarily announced a temporary stamp duty cut in August to boost sales in the state. However, he did not disclose the names of potential investments. Read here. The 2.
CY21 has seen a strong economic recovery from the unlocked lows. Data Patterns shares are going to make its debut in the primary markets today. Experts predict 'stellar' debut. Check cryptocurrency prices today. Ace investor has raised his stake in his favourite India Cements Ltd.
As per the latest communication by BSE, market magnet has 62,98, India Cements shares, which is 2. After the news break of Radhakishan Damani raising stake in the cement company, stock market analysts have gone bullish on Indian Cements share price and have advised positional investors to add this cement stock in their portfolio. Fuel rates continued to remain steady as petrol and diesel prices remained unchanged on Friday across various cities in the country.
Check latest fuel rates here. The initial share sale received bids for 7,32,71, shares against 3,75,60, shares on offer. India's crude oil imports in November rose to their highest level in 10 months as refiners stocked up to boost runs in anticipation of strong demand in the world's third-largest oil consumer and importer. Crude oil imports last month rose 7.
The relatively high imports corresponded with the country's crude processing hitting its highest level since February during the same month refiners operated at full capacity in hopes of a steady uptick in demand. Asian stocks were steady Friday after U. Volumes have thinned and many markets are closed or operating with reduced hours on Christmas Eve. Economic data painted a picture of solid U. Consumer sentiment improved, new home sales increased, durable goods orders beat forecasts and jobless claims signaled further labor market healing.
But inflation-adjusted consumer spending stagnated, flagging risks from rapidly rising prices. Sentiment was helped by a U. But the research cautioned the variant may still produce a significant number of serious cases because it is so infectious. Investors shifted from havens toward riskier assets. Treasuries and a dollar gauge slipped in U.
There is no cash trading of Treasuries on Friday. Never miss a story! Stay connected and informed with Mint. Download our App Now!! It'll just take a moment. Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image. You are now subscribed to our newsletters. View Full Image.
0コメント