-------- Forwarded Message --------
Subject: Nifty May See Some Bounce back Today On The Back Of Positive Global Cues & Short Covering---Watch 8530-8500 & 8605-8635 In NF
Date:   Tue, 18 Oct 2016 09:46:24 +0530
From:   Asis Ghosh <asis...@gmail.com>
Reply-To:       asis...@gmail.com

*Market Mantra: 18/10/2016 *

As par early SGX indication, NF may open around 8560 (+30 points) amid positive global/Asian cues, primarily supported by some strength in oil and weak USD.

*Technically, NF has to sustain over 8545/30* zone; otherwise it may again fall towards 8500-8465* & 8405-8360 area for the day.*
*For any meaningful strength, NF has to sustain over 8575-8605* area for further intra bounce back towards 8635-8685 & 8705-8745* zone as the day proceeds.*

*Similarly for BNF (LTP: 19105), immediate support is around 19040*-18990 area and sustaining below that BNF may further fall towards 18900*-18750 & 18650*-18450 for the day.*
*For any meaningful strength, BNF need to stay above 19200-19275* area for further rally up to 19350-19450 & 19600*-19850 zone as the session progress.*

Overnight US market closed lower as overall US economic data & earnings were mixed and there was some selling in oil.

Yesterday's US economic data (Empire mfg/IIP/Capacity utilization) were all below/at par market expectations and not good at all, except IIP, which showed some strength after long time. This may also highlights the tepid consumer spending & strong USD for the economy there.

Although, oil was under pressure yesterday for Iran's comments about production level and ongoing doubt about real effectiveness of OPEC's production cut/freeze proposal, it rebounded again in the early Asian session today because may be of weak USD & some reports about early rebalancing of demand & supply, of course with caveat of successful OPEC production cut/freeze in Nov.

Back to home, all eyes will be on the progress of GST today and the 20-th Oct meet for the final GST rate, which may be the most vital & contentious political issue.

Also some report that FII interest in G-Sec drops may affect the underlying sentiment of the market today.

Overall, expect some stock specific movements as the Q2 earnings are unfolding day by day.





Thanks & Regards,

Asis Ghosh

Kindly email stock reports at STOCKRESEARCHER@googlegroups.com
For sharing knowledge



Disclaimer :-
"The opinions expressed by the members on this board are based on
their individual experience and perceptions and to share information
with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of 
www.Niftyviews.com just provide a platform for the authors to express their opinion 
and take no guarantee for the genuineness of the same."ANY member of this forum 
doesnt prepare or publish any research report; or ii. provide research report; or 
iii. make 'buy/sell/hold' recommendation; or iv. give price target;
--- You received this message because you are subscribed to the Google Groups "Niftyviews.com" group.
To unsubscribe from this group and stop receiving emails from it, send an email 
to stockresearcher+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

Reply via email to