equity market weekly equity report mar… · rbi pauses with dramatic effect, markets wobble mpc...
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EQUITY MARKET WEEKLY EQUITY REPORT
9th DECEMBER 2019 TO 13th DECEMBER 2019
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Top Stories
World Market News:-
Oil drops as market awaits ratification of OPEC+ supply cut
Brent rises 3% in wk;WTI up 7% in biggest weekly gain since June* OPEC+ to cut production by an additional 500,000 bpd* OPEC
to shoulder around two thirds of cuts* Graphic on Aramco IPO
PRECIOUS-Gold slips 1% after robust U.S. jobs data; palladium soars
(Updates prices, adds market details)* Nonfarm payrolls increase 266,000 in November* Palladium scales fresh record peak of
$1,880.37/oz* Silver hits four-month low* GRAPHIC-2019 asset.
Nifty end lower as state-owned banks weigh
BENGALURU, Dec 6 (Reuters) - Indian shares gave up early gains and ended lower on Friday, dragged down by state-owned
banking stocks, as investor risk appetite waned after the central bank...
Sensex falls 334 points to close at 40,445
Equity indices on Friday closed in red with the benchmark BSE sensex falling over 300 points, dragged by banking stocks. The 30-share BSE index fell 334.44 points or 0.82 per cent to finish at 40,445.15. While, the broader NSE Nifty closed 96.90 points
Business News:-
Trump calls for World Bank to stop loaning to China
The World Bank on December 5 adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans annually through
June 2025
Godrej Agrovet hopeful of achieving 14-15% revenue growth in FY20
The company is also expecting to record 17 to 18 per cent growth in its net profit during the fiscal 2019-20, an official said.
Sebi orders LIC, SBI, Bank of Baroda to reduce stake to below 10% in UTI AMC by December 2020
Sebi observed that LIC, SBI and BoB are the sponsors of LIC Mutual Fund, SBI Mutual Fund and Baroda Mutual Fund, respectively, and
they also hold more than 10 per cent stake each in these mutual funds.
NSE appoints Girish Chandra Chaturvedi as new chairman
The position was vacant since Ashok Chawla resigned as the chairman of the National Stock Exchange(NSE) in January.
Economy News:-
Cut corporate tax rate to 15%; provide more disposable income: CII to govt on Budget
CII suggested that in order to bring about uniformity, all corporate tax rates should be converged to 15 per cent with no
exemptions and incentives over a period of three years till 2023.
Forex kitty continues to swells, scales past $451-bn-mark
In the previous week, the reserves had increased by $347 million to $448.6 billion.
RBI pauses with dramatic effect, markets wobble
MPC members concerned about near-term rise in inflation* RBI cuts 2019/20 growth projection to 5% from 6.1% in Oct* Bond
yields spike, stocks fall after RBI rate decision
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Weekly Indices
INDEX OPEN CLOSE % CHANGE
NIFTY 12137.05 11921.50 -1.12
BANKNIFTY 32008.30 31341.55 -1.92
Weekly Top Gainers Nifty 50
SYMBOL PREV. CLOSE CMP % CHANGE
KOTAKBANK 1,615.20 1,674.30 + 3.66
TCS 2,053.25 2,123.60 + 3.43
INFY 696.35 715.10 + 2.69
ICICIBANK 512.60 524.80 + 2.38
WIPRO 237.70 241.00 + 1.39
Weekly Top Losers Nifty 50
SYMBOL PREV. CLOSE CMP % CHANGE
HCLTECH 1,127.65 560.30 -50.31
YESBANK 68.30 56.00 -18.01
EICHERMOT 22,881.40 20,920.00 -8.57
GAIL 126.05 117.15 -7.06
HINDPETRO 282.60 263.00 -6.94
FII Activity In (crores)
DATE GROSS PURCHASE GROSS SALES NET PURCHASE/SALES
Month till date 24,793.59 28,651.40 -3,857.81 6 DECEMBER 2019 3,673.34 4,541.00 -867.66 5 DECEMBER 2019 4,893.44 4,240.08 653.36
4 DECEMBER 2019 4,828.69 5,609.75 -781.06
3 DECEMBER 2019 4,838.70 5,969.82 -1,131.12
2 DECEMBER 2019 6,559.42 8,290.75 -1,731.33
DII Activity In (crores)
DATE GROSS PURCHASE GROSS SALES NET PURCHASE/SALES
Month till date 17,965.59 15,543.27 2,422.32 6 DECEMBER 2019 2,965.39 2,754.67 210.72 5 DECEMBER 2019 2,846.29 3,256.78 -410.49 4 DECEMBER 2019 4,326.93 3,422.80 904.13 3 DECEMBER 2019 3,788.71 2,824.74 963.97
2 DECEMBER 2019 4,038.27 3,284.28 753.99
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NIFTY
Support & Resistance
S3 S2 S1 NIFTY R1 R2 R3 11694.85 11802.65 11867.60 11921.50 12041.15 12103.05 12149.52
Overview:-
On weekly chart nifty form bearish engulfing pattern end of up trend indication of trend reversal in long term trend we see in channel nifty index is trading currently 14 period RSI is giving negative crossover and srochastics signal down side chart pattern and indicator are giving negative indication for index traders who want to take trade can wait for lower level breakout with good volume. Nifty open at 12137.05 levels made it weekly top at 12137.15levels and made its weekly bottom 11888.85levels. The strength indicator RSI is trading below 70 level and indicating down trend and stochastics tradingbelow 80 level given negative crossover showing weakness in index traders should wait for confirmation before take any trade. If Nifty trade and sustain above 12,000 levels we see 12,150 – 12,200. On the lower side we see immediate support 11,850 any violation of this of this would take the index towards below 11,800-11,700 levels.
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BANKNIFTY
Support & Resistance
S3 S2 S1 BANKNIFTY R1 R2 R3 29983.80 30801.30 31049.75 31341.55 31783.60 32157.05 32385.52
Overview:-
Bank Nifty gave its weekly opening at 32,008.30 level made its weekly top at 312,126.95 levels and
closes 31,341.55 weekly chart Bank nifty form bearish piercing line pattern end of up trend indication of
bearish reversal. Currently index trade in up word channel weekly chart formation indicating short
correction towards down word may we see in coming treading session ( RSI IS BELOW 70 AND GIVEN
NEGATIVE TREND STOCHASTICS IS GIVING NEGATIVE CROSSOVER BELOW 80 SHOWING WEAKNESS IN
INDEX WAIT FOR CONFERMATION BEFORE ENTER TO TRADE.) Bank Nifty is having strong support 31,000
level any violation of this level see further down fall 30,500-30,300 levels and if start trade up word
above 31,500 we see 32,000-32,500 levels.
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STOCK VIEW FOR SHORT TERM
EQUITY CASH:-
BUY WIPRO ABOVE 245 TGT 263-272-280 STOPLOSS 231 (HOLDINF PERIOS 1-3 WEEK)
REASON – IN WEEKLY CHART STOCK FORM SPINNING BOTTOM PATTERN END OF DOWN TREND INDICATION OF BULLISH REVERSAL TAKING
SUPPORT OF TREND LINE POSITIVE INDICATION FOR STOCK RSI GIVING POSITIVE CROSSOVER NEAR 30 LEVEL INDICATING UP TREND
RECOMMEND BUY.
SELL AMARAJABAT FUTURE 26 DEC BELOW 727 TGT 715-700-7680 STOPLOSS 760 (HOLDINF PERIOD 1-2 WEEK)
REASON – IN WEEKLY CHART STOCK FORM EVENING BEARISH ENGULFING PATTERN END OF UP TREND INDICATION OF BEARISH REVERSAL RSI
GIVEN NEGATIVE CROSSOVER BELOW 70 LINE STOCHASTICS ALSO GIVEN NEGATIVE CROSSOVER BELOW 80 INDICATING DOWN TREND
RECOMMEND SELL.
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