ETMarkets Morning Podcast: Key triggers and trading ideas for today's session
Hi there! Good Morning. This is Kshitij Anand from ETMarkets.com with our regular morning Podcast of all the news, views, and cues that could sway your market through the day.
With MSCI All Country World index hitting an all-time high, results season on its last leg and positive trade setup as suggested by Nifty50 futures trading at Singapore Stock Exchange, it seems Friday could be another day of gains for D-Street.
But, most of the Asian markets were trading mixed, some bit of profit booking in morning trade cannot be ruled out.
Global stocks surged to an all-time high on Thursday led by the recent rally on Wall Street after Trump's victory brought back the US and other developed markets into the spotlight.
A recent Bank of America-Merrill Lynch (BofAML) survey showed that global fund managers' allocation to emerging market equities has improved to net 5 per cent overweight in February from net 6 per cent underweight in the previous month.
Housing mortgage company Indiabulls Housing Finance and oil marketing major Indian Oil Corporation will be in focus after NSE in a release said that they will get replaced BHEL and Idea Cellular in NSE's benchmark index Nifty.
The changes will come into effect from March 31, 2017, according to an announcement made by India Index Services & Products Ltd (IISL), an NSE group firm that manages Nifty and other indices.
The rupee plunged by 17 paise to close at 67.07 on fresh dollar demand from banks and importers despite weakness in the American currency in the overseas market.
After falling below key support area in the previous session, the Nifty50 on Thursday rebounded and closed above its opening level after failing to do so for the seventh consecutive session in a row.
On the technical front, the index settled exactly at its five-day simple moving average of 8,778 and formed a pattern similar to a 'Bullish Harami' formation, suggesting that the bearish trend may reverse and it may be good time to add long positions.
On the options front, maximum Call OI was seen at strike prices 9,000 followed by 8,500 while maximum Put OI was seen at strike prices 8,500 followed by 8,700.
Fresh Put writing was seen at strike prices 8,700 which indicate that market is likely to respect 8,680-8,700 levels while unwinding was seen in strike price 8,800 Call which is giving the scope for upside move to surpass immediate hurdle of 8820.
India VIX fell down by 3.38 per cent at 13.73 on Thursday which indicates that decline is being bought into as market managed to firmly hold its support zones.
Let's look at what experts are recommending for intraday trade today:
Siddharth Bhamre who is an independent market expert recommends traders to buy Wipro with a target of Rs 502 and a stop loss of Rs 468.
Traders can also look at buying TVS Motors for a target of Rs 442 and a stop loss of Rs 410.
We would leave you with that much for now.
Do log on to www.etmarkets.com through the day for continuous updates on every development in the financial markets.
Have a good trading day ahead!
With MSCI All Country World index hitting an all-time high, results season on its last leg and positive trade setup as suggested by Nifty50 futures trading at Singapore Stock Exchange, it seems Friday could be another day of gains for D-Street.
But, most of the Asian markets were trading mixed, some bit of profit booking in morning trade cannot be ruled out.
Global stocks surged to an all-time high on Thursday led by the recent rally on Wall Street after Trump's victory brought back the US and other developed markets into the spotlight.
A recent Bank of America-Merrill Lynch (BofAML) survey showed that global fund managers' allocation to emerging market equities has improved to net 5 per cent overweight in February from net 6 per cent underweight in the previous month.
Housing mortgage company Indiabulls Housing Finance and oil marketing major Indian Oil Corporation will be in focus after NSE in a release said that they will get replaced BHEL and Idea Cellular in NSE's benchmark index Nifty.
The changes will come into effect from March 31, 2017, according to an announcement made by India Index Services & Products Ltd (IISL), an NSE group firm that manages Nifty and other indices.
The rupee plunged by 17 paise to close at 67.07 on fresh dollar demand from banks and importers despite weakness in the American currency in the overseas market.
After falling below key support area in the previous session, the Nifty50 on Thursday rebounded and closed above its opening level after failing to do so for the seventh consecutive session in a row.
On the technical front, the index settled exactly at its five-day simple moving average of 8,778 and formed a pattern similar to a 'Bullish Harami' formation, suggesting that the bearish trend may reverse and it may be good time to add long positions.
On the options front, maximum Call OI was seen at strike prices 9,000 followed by 8,500 while maximum Put OI was seen at strike prices 8,500 followed by 8,700.
Fresh Put writing was seen at strike prices 8,700 which indicate that market is likely to respect 8,680-8,700 levels while unwinding was seen in strike price 8,800 Call which is giving the scope for upside move to surpass immediate hurdle of 8820.
India VIX fell down by 3.38 per cent at 13.73 on Thursday which indicates that decline is being bought into as market managed to firmly hold its support zones.
Let's look at what experts are recommending for intraday trade today:
Siddharth Bhamre who is an independent market expert recommends traders to buy Wipro with a target of Rs 502 and a stop loss of Rs 468.
Traders can also look at buying TVS Motors for a target of Rs 442 and a stop loss of Rs 410.
We would leave you with that much for now.
Do log on to www.etmarkets.com through the day for continuous updates on every development in the financial markets.
Have a good trading day ahead!
