Buy Tata Steel at CMP 1382 Target 1600
SL 1309
Short Term Positional
SL 1309
Short Term Positional
*Market Update*
- Nifty and Bank Nifty both taking pressure at upper levels
- For Nifty immediate resistance is 16700-705 levels
- For Bank Nifty immediate resistance is 35800-36000 range.
- We can expect some profit booking at current levels.
- Buy on Dips to be maintained
- Nifty and Bank Nifty both taking pressure at upper levels
- For Nifty immediate resistance is 16700-705 levels
- For Bank Nifty immediate resistance is 35800-36000 range.
- We can expect some profit booking at current levels.
- Buy on Dips to be maintained
L&T Technology Advances Over 7%; Trading volumes rises
· Shares of L&T Technology Services advanced 7.49% to Rs 4,350 a share. Trading volume was 2,23,634 shares, ten times the 20-day average of 23,085 shares for this time of the day.
· LTTS’ Analyst Day, where the management spelt out its aspiration of achieving FY25 revenue of USD1.5b, along with 18% EBIT margin. The management indicated that digitization is driving accelerated spends in ER&D and should benefit it due to: 1) strong capabilities, 2) multi-vertical presence, and 3) solid wallet share. We expect LTTS to deliver strong revenue growth over the coming years and retain it as our top pick in the midcap IT Services space.
· Shares of L&T Technology Services advanced 7.49% to Rs 4,350 a share. Trading volume was 2,23,634 shares, ten times the 20-day average of 23,085 shares for this time of the day.
· LTTS’ Analyst Day, where the management spelt out its aspiration of achieving FY25 revenue of USD1.5b, along with 18% EBIT margin. The management indicated that digitization is driving accelerated spends in ER&D and should benefit it due to: 1) strong capabilities, 2) multi-vertical presence, and 3) solid wallet share. We expect LTTS to deliver strong revenue growth over the coming years and retain it as our top pick in the midcap IT Services space.
*Market Updates*
- Market looks choppy, likely to fall more
- 17200 is an immediate support. Likely to rebound from these levels.
- Rupee has been depreciated by 20 paisa till now...likely to put more pressure on Bulls
- Sit tight with strict SLs...roller coaster ride is ready.
- Market looks choppy, likely to fall more
- 17200 is an immediate support. Likely to rebound from these levels.
- Rupee has been depreciated by 20 paisa till now...likely to put more pressure on Bulls
- Sit tight with strict SLs...roller coaster ride is ready.
Sell Nifty at CMP for Target 17200/17000/16700
SL 17426
All spot levels
SL 17426
All spot levels
*CURRENCY MID-DAY UPDATE:*
Rupee opened on a flat note and fell on back of weakness in domestic equities
Suspected fund outflows also weighed on the currency
On the domestic front, market participants will be keeping an eye on the IIP that will be released later this week
Today from the Euro zone German economic sentiment will be the only important data to watch for
Euro and pound remained supported at lower levels for the whole of last week
For the day, we expect the USDINR (Spot) to quote sideways to positive
Rupee opened on a flat note and fell on back of weakness in domestic equities
Suspected fund outflows also weighed on the currency
On the domestic front, market participants will be keeping an eye on the IIP that will be released later this week
Today from the Euro zone German economic sentiment will be the only important data to watch for
Euro and pound remained supported at lower levels for the whole of last week
For the day, we expect the USDINR (Spot) to quote sideways to positive
*Market Updates*
- We will witness next leg of rally from Monday onwards
- Keep your positions hedged, as tomorrow is Holiday in Market.
- Stay invested or average out your quality stocks.
- Bank Nifty will rock and roll above 36800 and Nifty will rock and roll above 17430.
*Happy Investing*
- We will witness next leg of rally from Monday onwards
- Keep your positions hedged, as tomorrow is Holiday in Market.
- Stay invested or average out your quality stocks.
- Bank Nifty will rock and roll above 36800 and Nifty will rock and roll above 17430.
*Happy Investing*
*Market Updates*
- Today is a strange day in market...ITC and Indusind which were dead from last few months, are up 6-8% in opening first hour.
- Further Honorable Finance Minister Nirmala Sitaraman to brief media, at 5 pm, on Bad Bank, today
- Nifty and Bank Nifty are ready to rally further, stay invested in IT, Electric Mobility, Pharma, FMCG
- Today is a strange day in market...ITC and Indusind which were dead from last few months, are up 6-8% in opening first hour.
- Further Honorable Finance Minister Nirmala Sitaraman to brief media, at 5 pm, on Bad Bank, today
- Nifty and Bank Nifty are ready to rally further, stay invested in IT, Electric Mobility, Pharma, FMCG
*Market Updates*
- On the Global Fronts, market is standing at a point where the correction is more likely.
- Dollar index has formed uptrend structure in weekly charts and is ready to rally further from 93 levels to 95/96/97 levels.
- In case of above scenario, we can witness sharp Profit Booking in market supported by India Vix which is trading above 17.5 levels.
- October month expiry will be highly volatile. Traders are advised to put strict SL in Nifty long Position at 17200. Any closing below 17200 would initiate short term downtrend.
- Although correction is a part of market ups and downs & it's overdue now.
- Investors are advised to keep booking profits at regular intervals. Further uptrend shall resume once market settles above 18000 for 2-3 trading days.
- On the Global Fronts, market is standing at a point where the correction is more likely.
- Dollar index has formed uptrend structure in weekly charts and is ready to rally further from 93 levels to 95/96/97 levels.
- In case of above scenario, we can witness sharp Profit Booking in market supported by India Vix which is trading above 17.5 levels.
- October month expiry will be highly volatile. Traders are advised to put strict SL in Nifty long Position at 17200. Any closing below 17200 would initiate short term downtrend.
- Although correction is a part of market ups and downs & it's overdue now.
- Investors are advised to keep booking profits at regular intervals. Further uptrend shall resume once market settles above 18000 for 2-3 trading days.