MARKET TODAY

INDIAN MARKET: Indian stock indexes fell on Monday following a raft of negative news in the bank-ing and real estate sectors, with shares in Indiabulls Housing Finance Ltd falling 34%.

US MARKET: Stocks finished higher in the final trading session of the month and quarter after Trump administration officials played down or disputed reports Washington was weighing plans to impede U.S. investments in Chinese companies, soothing a fear that had put equities under pres-sure at the end of last week.

ASIAN MARKET: Asian stock markets opened higher as the Japanese Nikkei bounced back with gains of over 150 points in early trade. The rest of the region also saw gains as equities got a shot in the arm with ETF flows buying Asian stocks.

STOCK IN NEWS

  • CONCOR, BPCL, SCI: Media reports suggest that Group of Secretaries panel cleared disinvestment in 5 companies including the sale of entire stake in BPCL and SCI.
  • Bajaj Auto Sales: The company’s total sales declined 20 percent year-on-year to 4.02 lakh vehicles last month, according to its stock exchange filing.
  • Shares of the city gas distributors rallied after India’s oil ministry has cut the price of locally-produced natural gas. This is the first reduction after four straight hikes since October last year.

TRADE OUTLOOK

The Nifty50 is expected to trade more volatile today due to the auto sales indication. The short term support for the market is at 11440 level we are expecting a pullback from the level to the 11540 lev-els in the upper side. If the market does not sustain within the range it should further weaken to 11360 level in the downside.
Today’s Trade

BUY Nifty at 11400 Target 11480-11520 with stop-loss at 11354

Leave a Reply

*
*

Required fields are marked *