MARKETS LIVE: Indices open on a cautious note ahead of tariff deadline

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SI Reporter  |  New Delhi 

Photo: Shutterstock
Photo: Shutterstock

Market at open   At 9:15 AM, the S&P BSE Sensex was trading at 35,563, down 12 points while the broader Nifty50 was ruling at 10,743, down 7 points. Markets at pre-open Index Current Pt. Change % Change   S&P BSE SENSEX 35,554.63 -19.92 -0.06   S&P BSE SENSEX 50 11,261.27 -2.42 -0.02   S&P BSE SENSEX Next 50 31,781.42 -41.13 -0.13   S&P BSE 100 11,010.44 -4.12 -0.04   S&P BSE Bharat 22 Index 3,297.70 +4.74 +0.14 (Source: BSE) Derivatives strategy on UltraTech Cement by HDFC Securities   Buy Ultra Tech Cement July Future at Rs 3,924   Stop loss: Rs 3,840   Target: Rs 4,050   Rationale: We have seen Long positions being built in Ultra tech futures’ yesterday where We have seen sharp Rise in Open Interest with Price rise of 3% Commodity outlook by Tradebulls   Buy Natural Gas TARGET: Rs 204 Stop Loss: Rs 191   Natural Gas trading range for past one and half month is 194-207. Currently it is trading at the lower end of the range. We have seen prices reversing from this level. Currently it is taking support at its 50 day moving average. Positive divergence is being seen in RSI_14 on daily chart. We recommend creating long position with expectation of 204 on the upside and stop loss to be maintained below 191 on closing basis. Click here for more Trading ideas by Anand Rathi Research   BUY ACC Target: Rs 1,484 Stop Loss: Rs 1,360   ACC has provided a breakout from a symmetrical triangular pattern on the daily charts which is formed in its wave B. Now, with this breakout the stock is likely to retrace 38.2% of its previous fall, so the target comes to 1485 levels. Click here for more Nifty outlook by Anand Rathi Research   NIFTY SELL TARGET: 10,680 STOP LOSS: 10,810   Nifty has closed in the negative territory in the last trading session facing resistance at 10,800 levels. The rise so far on the daily charts appear to be a three wave rising structure, hence till 10810 levels aren’t taken off the overall bias hereon remains sideways to negative. On the lower side, the immediate support exists at 10,650 levels, hence 10,680 is the immediate target.

Markets open on a cautous note as investors braced for developments on the trade front as markets awaited tariffs from the US and China to take effect later on Friday

On Thursday, US President Donald Trump confirmed that the United States would begin collecting tariffs on $34 billion worth of Chinese imports at 12:01 am Washington time (0401 GMT) on Friday, and warned that subsequent rounds could see tariffs imposed on more than $500 billion worth of goods.

Faltering Chinese markets dented Asian stocks in a choppy Friday morning, just hours before Washington is set to impose tariffs on Chinese imports that many investors fear might trigger a full-scale trade war in a blow to the global economy.

Seoul’s Kospi index fell 0.2 per cent and shares in Taiwan were 0.4 per cent lower. Australian shares were up 0.4 per cent. China’s major indices were choppy in early trade, with the blue-chip CSI300 index in and out of negative territory. It was last 0.2 per cent lower, while the Shanghai Composite index fell 0.3 per cent.

Japan’s Nikkei stock index was 0.7 per cent higher after closing at a three-month low on Thursday.

Back home investors will focus on Reliance Industries Mukesh Ambani said Consumer-centric businesses would be the focus of RIL in the coming years, at the company’s 41st Annual General Meeting on Thursday. Read the full article here
First Published: Fri, July 06 2018. 08:15 IST

MARKETS LIVE: Indices open on a cautious note ahead of tariff deadline

Catch all live market action here

Catch all live market action here
Markets open on a cautous note as investors braced for developments on the trade front as markets awaited tariffs from the US and China to take effect later on Friday

On Thursday, US President Donald Trump confirmed that the United States would begin collecting tariffs on $34 billion worth of Chinese imports at 12:01 am Washington time (0401 GMT) on Friday, and warned that subsequent rounds could see tariffs imposed on more than $500 billion worth of goods.

Faltering Chinese markets dented Asian stocks in a choppy Friday morning, just hours before Washington is set to impose tariffs on Chinese imports that many investors fear might trigger a full-scale trade war in a blow to the global economy.

Seoul’s Kospi index fell 0.2 per cent and shares in Taiwan were 0.4 per cent lower. Australian shares were up 0.4 per cent. China’s major indices were choppy in early trade, with the blue-chip CSI300 index in and out of negative territory. It was last 0.2 per cent lower, while the Shanghai Composite index fell 0.3 per cent.

Japan’s Nikkei stock index was 0.7 per cent higher after closing at a three-month low on Thursday.

Back home investors will focus on Reliance Industries Mukesh Ambani said Consumer-centric businesses would be the focus of RIL in the coming years, at the company’s 41st Annual General Meeting on Thursday. Read the full article here
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