Showing posts with label Stock tips. Show all posts
Expect rupee to trade in 60.80-61.50/USD range
Ashutosh Raina of HDFC Bank said,
"Markets await the outcome of the crucial 2-day FOMC meet and the Scottish referendum.” “We had poor IIP and CPI data but a better than expected WPI also failed to cheer the markets. Expect the rupee to trade in a narrow range of 60.80-61.50/dollar till the outcome of the FOMC meeting,” he added.
INDIAN BENCHMARKS slip on profit taking… Nifty holds 8,150
INDIAN EQUITY BENCHMARKS
ended lower, amid weak European cues, as investors turned cautious and
booked profits at higher levels after hit fresh record highs in the
previous session.
• Hindalco ended down 0.6% ahead of the SC verdict on the Mahan Coal block allocated to the company eight years ago to feed its aluminium plant in Madhya Pradesh.
• Further, Larsen & Toubro acquired 50% of the stake in L&T-Ramboll Consulting Engineers Ltd (LTR) from its joint venture partner Ramboll Denmark AS.
The crucial resistance for Nifty is now seen at 8180 and above this 8210. Support for the immediate term is now placed at 8125 and next support will be 8105.
NEWS TO WATCH:
• Watch out for the CPI and IIP data on 12TH Sep. 2014.
• Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014
• Hindalco ended down 0.6% ahead of the SC verdict on the Mahan Coal block allocated to the company eight years ago to feed its aluminium plant in Madhya Pradesh.
• Further, Larsen & Toubro acquired 50% of the stake in L&T-Ramboll Consulting Engineers Ltd (LTR) from its joint venture partner Ramboll Denmark AS.
The crucial resistance for Nifty is now seen at 8180 and above this 8210. Support for the immediate term is now placed at 8125 and next support will be 8105.
NEWS TO WATCH:
• Watch out for the CPI and IIP data on 12TH Sep. 2014.
• Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014
COMMODITY MARKET STRATEGY 03 SEPTEMBER 2014
BASE METAL WRAP: Copper advanced in
London as U.S. manufacturing expanded at the quickest clip in three years and
construction spending rebounded, signaling increased demand.
ENERGY WRAP: Natural gas prices
dropped on Tuesday after weather forecasting models called for falling
temperatures across the U.S., which should cut into the need for air
conditioning and thus reduce demand for the commodity at the nation's thermal
power plants. Oil prices dropped on
Tuesday due to mounting concerns that global supply is far outreaching demand,
while a stronger U.S. dollar also bruised the commodity.
PRECIOUS METAL WRAP: Gold futures extended
losses on Tuesday, slumping to more than two month lows as the broadly stronger
dollar dampened investor demand for the precious metal.
GLOBAL EVENTS TO WATCH: Non-Manufacturing
PMI(CNY), GDP q/q(AUD), HSBC Services PMI(CNY), RBA Gov Stevens Speaks(AUD),
Services PMI(GBP), BOC Rate Statement(CAD), Overnight Rate(CAD), Factory Orders
m/m(USD), Total Vehicle Sales(USD), Beige Book(USD).
