A list of important headlines from across news agencies that could help you with your trade today.

The Nifty Index finally hit a fresh record high for the first time since January 29 and ended at all-time closing high on the day of July futures and options (F&O) contracts expiry Thursday, though it dropped in the red in last hour of trade.

The index formed a small bullish candle on the daily charts. The market shrugged off weakness in Asian peers.

The rally was majorly driven by banking & financials space as the Nifty Bank index gained 1.4 percent and Financial Services 1.7 percent. PSU Bank gained the most among sectoral indices, rising 5.5 percent, especially after Canara Bank earnings.

Not only Nifty but also Sensex ended at record closing high of 36,984.64, up 126.41 points. Even the entire July series was strong for the market as the Nifty and Sensex rallied 5.5 percent each.

The 50-share NSE Nifty opened higher at 11,132.95 and immediately in the first few minutes it clocked fresh record high. The index in last lost hour of trade lost all its gains and hit an intraday low of 11,125.70, but immediately regained strength and hit an intraday all-time high of 11,185.85. It closed 35.30 points higher at 11,167.30.

According to Pivot charts, the key support level is placed at 11,133.4, followed by 11,099.5. If the index starts moving upwards, key resistance levels to watch out are 11,193.5 and 11,219.7.

The Nifty Bank index closed at 27,406.40, up 375.1 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,149.3, followed by 26,892.2. On the upside, key resistance levels are placed at 27,559.3, followed by 27,712.2.

US markets end mixed; Dow up 100 points

The major stock indexes traded in different directions on Thursday as investors grappled with a disastrous quarterly report from Facebook. The Dow Jones Industrial Average rose 112.97 points, or 0.44 percent, to 25,527.07, the S&P 500 lost 8.63 points, or 0.30 percent, to 2,837.44 and the Nasdaq Composite dropped 80.05 points, or 1.01 percent, to 7,852.19.

Asian shares struggle as trade fears keep investors cautious

Asian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-US trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe.

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade. Japan’s Nikkei eked out a 0.3 percent gain though it was capped by worries that the Bank of Japan could scale down its asset purchase at its upcoming policy review next week.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 25 points. Nifty futures were trading around 11,247.50 on the Singaporean Exchange.

Oil markets inch down after three days of gains

Oil prices edged down on Friday after three days of gains, but were still supported by Saudi Arabia’s halt on transporting crude through a key shipping lane, falling US inventories and easing trade tensions between Washington and Europe.

Brent futures were down 6 cents at USD 74.48 a barrel by 0043 GMT, after gaining 0.8 percent on Thursday. US West Texas Intermediate futures were also 6 cents lower, at USD 69.55, after posting a nearly 0.5-percent gain the previous session.

Reliance Industries to report Q1 earnings today

Petrochemical-retail-to-telecom conglomerate Reliance Industries will announce its April-June quarter earnings on July 27. Brokerage houses expect the company's petrochemical business to post strong results. Also in focus would be its telecom business Jio.

"We expect standalone net income to remain stable, as gains from a weaker rupee and modestly higher petchem volumes/margins will likely be offset by lower refining margins," Kotak said.

Gross refining margin (GRM) is expected to be in the range of USD 10-11 a barrel for the quarter against $11 a barrel in Q4FY18.

ICICI Bank Q1: Net profit seen down 31%, NPAs may rise

ICICI Bank, country’s largest private lender, is likely to report a 31 percent fall in net profit for the first quarter ending 2018 due to rise in provisions owing to a surge in bad loans. As per a Reuters poll, the lender’s net profit will decline to Rs 1,422 crore as against Rs 2,049 crore reported in the same quarter last year.

A Motilal Oswal report projects a net profit fall of about 7.3 percent to Rs 1,900 crore. Gross non-performing asset (NPA) ratio is likely to worsen to 10.30 percent of total loans as on June end 2018 from 7.99 percent a year ago and 8.84 percent in the previous quarter ending March 2018. Net NPA ratio is also expected to rise to 5.30 percent from 4.89 percent in June quarter ending 2017 and 4.77 percent as on March-end 2018.

Delisting of cos: Sebi proposes to allow promoters to make counter offer

Markets regulator Sebi yesterday proposed measures to provide promoters a say in the price offered to shareholders of companies that are planning to delist from stock exchanges. The proposal is aimed at plugging loopholes in the current delisting method for companies.

Issuing a draft paper, Sebi has suggested for a price discovery as per reverse book building (RRB) method, along with considering counter offer of promoter. It has suggested that in case promoter(s) give a counter offer, then the counter offer price should not be less than the book value and the counter offer should be accepted by such number of public shareholders where the promoter shareholding reaches 90 percent.

55 companies to report June quarter numbers today

As many as 55 companies will declare their results for June quarter later today which include names like Bank of Baroda, Excel Corp, HCL Technologies, ICICI Bank, M&M Financial Services, and Reliance Industries among others.

HDFC AMC IPO subscribed 5.52 times on Day 2

HDFC Asset Management Company's initial public offer was subscribed 5.52 times on the second day of the three-day bidding yesterday. The Rs 2,800-crore public offer received bids for 10,38,77,982 shares against the total issue size of 1,88,04,290 shares, according to data available with the NSE.

The IPO is of 25,457,555 shares, including anchor portion of 6,653,265 shares. Price band for the offer, which would close today has been set at Rs 1,095-1,100 per share. Kotak Mahindra Capital, Axis Capital, DSP Merrill Lynch, Citigroup Global Markets, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, J P Morgan India, Morgan Stanley India and Nomura Financial Advisory are managing the issue.

stock under ban period on NSE

Securities in ban period for the next day's trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

For July 27, 2018, Adani Enterprises is present in this list.

“There are a few technical pieces of evidence that justify 10,600-10,640 levels. First, post the Union Budget, the Nifty corrected from 10,638 and 10,631 on two occasions, which will now act as a strong hurdle,” Sameet Chavan, Chief Analyst, Technicals and Derivatives at Angel Broking, said.

This coincides with its 50 percent Fibonacci retracement of the recent fall from 11,171.55 to 9,951.90. Also, the upward sloping trendline connecting previous bottoms (9,687.55 and 10,276.30) is now converging around the same area.

Chavan sees the index heading to 10,750 levels if 10,600 is breached. “As a chartist, traders are respecting this zone of 10,600–10,640. In case of violation of this hurdle in the upward direction on a sustainable basis, we may see the relief rally getting extended 10,720–10,750. But it certainly does not change the broader outlook, as we still expect the possibility of selling pressure resuming at higher levels.”

He advises traders to stay light for a while, focusing on key levels and adopting a stock-centric approach for the next few days.

As far as support levels are concerned, 10,495 followed by 10,355 would now be crucial.

Tata Motors: Buy| Target Rs 372| Stop loss: Rs 327| Return: 10%

This counter is in a downtrend and remains an underperformer. It is moving in a well-defined down sloping channel since the highs of Rs 598 per share registered in September 2016. It again approached the demand line of the said channel, which attracted buying support and propped up prices from the lows of Rs 330 per share a couple of weeks back.

After retracing major part of the said pullback rally from Rs 325-372 levels, this counter appears to have formed a base around Rs 332 per share and looks ready for a take-off. Hence, positional traders should go long for an initial target of Rs 372 per share with a stop of Rs 327 per share.

PNB Housing Finance: Buy| Target Rs 1,469| Stop loss: Rs 1,297| Return: 8%

After the recent breakout above its 200 daily moving average, this counter slipped into consolidation phase and appears to have resumed its upswing from the said congestion zone of Rs 1,360–1,290 levels. In such a scenario it should head towards its logical target of Rs 1,469 per share. Hence, positional trade can create longs for the said target with a stop of Rs 1,297 per share.

Motherson Sumi: Buy| Target: Rs 372| Stop loss: Rs 332| Return: 6%

This counter appears to have resumed its upmove after trading in the recent congestion zone of Rs 350–335. After sustaining above Rs 340 levels, it can be expected to head towards its logical targets of Rs 372 per share. The stop suggested for the trade is Rs 332 per share.

Post the correction in January, the stock slipped into consolidation mode. After three months, the stock burst through this congestion zone and confirmed a neckline breakout from the inverse head and shoulder pattern. Volumes during this price action were almost thrice its average daily volumes, indicating strong buying interest after the base building process. We expect the stock to extend this rally and eventually climb towards our near-term target of Rs.863 per share. Traders are advised to follow a strict stop loss at Rs748 per share.

Bata India: Buy| Target: Rs 857| Stop loss: Rs 763| Return: 7%

Since the last couple of weeks, this stock has been consolidating in a small range. On Friday, we witnessed a surge in the last couple of hours of trade. The surge was quite abrupt but confirmed a breakout from the near-term hurdle of Rs 791 per share on a closing basis. This was accompanied by massive volumes, providing credence to this move. One can look to go long for a target of Rs 857 per share by following a strict stop loss of Rs 763 per share.

Ramco Systems: Buy| Target: Rs 535| Stop loss: Rs 442| Return: 10%

The breakout from the bullish flag continuance pattern signals resumption of the next up leg after a couple of days breather in the stock. After correcting over 60% from its 2015 peak, the stock has been languishing in the Rs 600-350 range for over a year. In the current week, a swift rally backed by unusually high volumes indicates that the stock has attracted the attention of market participants as most midcap IT stocks have seen a decent rally over the past few months.

The bullish flag formation on the daily chart indicates a breather after the sharp rally and provides a fresh entry opportunity to ride the next up leg. The stock is likely to accelerate momentum and head higher in the near-term towards Rs 535 per share as it is the 80% retracement of the most recent down leg from Rs 572 to Rs 353 per share.

Zensar Technologies: Buy| Target: Rs 1,125| Stop loss: Rs 935| Return: 11%

The share price of Zensar Technologies has been trading in a rectangle formation by oscillating within a broader range of Rs 750–1,130 per share since August 2015. Over the past 15 months, the stock made multiple failed attempts to sustain above the Rs 960 mark, indicating stiff resistance at that level. The stock logged a breakout from the past 11 week’s consolidation range of Rs 857–997, backed by heavy volumes, indicating a resumption of the uptrend.

Among oscillators, the weekly moving average convergence divergence (MACD) found support from its nine week average and is now pointing upward. The Relative Strength Index (RSI) has retested earlier breakout levels indicating an acceleration of momentum after forming a base above the zero line.

The stock’s momentum is likely to accelerate and head higher in the near-term towards Rs 1,125 per share as it is the implicated target of the weekly consolidation (Rs 997-857) coinciding with identical highs near the upper band of the rectangle pattern of Rs 1,130 per share. On the downside, immediate support remains around Rs 935 per share as it is the placement of eight week’s exponential moving average (EMA) coinciding with the current week’s low.

D-Link: Buy| Target: Rs 126| Stop loss: Rs 102| Return: 22%

The D-Link stock has registered a breakout above the bullish flag pattern signalling a positive bias. The breakout was accompanied by strong volume of more than three times the 200-day average volume of 3 lakh shares per session, indicating larger participation in the direction of the trend. Thus, supporting continuance of the positive trend.

During the previous week, the stock witnessed a strong rebound from the support area of Rs 81 per share and rallied to Rs 112 per share in just three sessions. Post this, the index consolidated for the last three sessions during which it retraced its previous up move by just 23.6%, signalling a positive price structure.

We expect the stock to continue its current upmove and test levels of Rs 126 per share being the confluence of the 61.8 percent retracement of the entire decline from Rs 153 to Rs 81 and the high of February 2018 around Rs 126 levels.

PNC Infratech: Buy| Target Rs 205| Stop loss: Rs 166| Return: 15%

The share price of PNC Infratech remains in an uptrend, forming a rising peak and trough on the weekly chart. The stock has rallied to an all-time high of Rs 228 per share in December 2018. Since then, it has been in a corrective decline for the last three months. The recent price activity suggests that the corrective decline has approached maturity and is likely to resume a fresh upmove.

The stock has recently rebounded from the support area of Rs 150-155 per share, being the confluence of its 52-week EMA and 80 percent retracement of the previous up move from Rs 130 to Rs 228. The sharp upmove in the last two weeks from the support area signals a reversal of the corrective trend and offers a fresh entry opportunity. We expect the stock to continue with its current upmove and test Rs 211 per share, being the 80 percent retracement of the entire decline from Rs 228 to Rs 148 per share.

Godrej Properties: Buy| Target: Rs 850| Stop loss: Rs 685| Return: 9%

Godrej Properties’ share price was consolidating in a broader range of Rs 728–859 per share over the past two months. During this two month consolidation, the stock has taken support from the gap area of January 8 on multiple occasions, indicating sturdy base formation around Rs 728 levels.

At present, it registered a breakout from the falling trendline drawn adjoining subsequent high of Rs 912–849 supported by above average volumes, indicating termination of an intermediate correction. Among oscillators, RSI found support at its one-year long support base of 35, pointing upward, confirming base formation. The stock is likely to head higher in the near-term towards Rs 850 per share, which is the placement of identical highs coinciding with the upper band of the broader consolidation range of Rs 859-728.

08:44 AM

Singapore trading sets stage for flat start

Nifty futures on the Singapore Stock Exchange were trading 2 points, or 0.02 per cent, lower at 10,278, indicating a flat start for the Nifty50 on Dalal Street.

08:43 AM

Nifty50 forms bullish candle on daily chart

Nifty50 managed to settle above its immediate support level of 10,240, despite weak global cues. The index made a bullish candle on the daily charts and is expected to face immediate resistance at the 10,276 level and later around its 50-day moving average of 10,360. The index may find support near the 10,140 level.

08:43 AM

ICICI Sec , Midhani to make market debut

Shares of India’s biggest stock broking firm ICICI Securities are scheduled to get listed on BSE and NSE on Wednesday (April 4). The initial public offering was opened for subscription between March 22 and March 26. The company had fixed a price band of Rs 519-520 per share. Shares of Mishra Dhatu Nigam (MIDHANI) will list on BSE and NSE on Wednesday. The IPO, which was oversubscribed by 1.21 times, ran from March 21 to March 23.

08:43 AM

MPC to kick of policy review today

The RBI is unlikely to yield to the India Incs pressure for a benign monetary policy stance by keeping policy rates unchanged in its first monetary policy review of 2018-19 to be announced on Thursday against the backdrop of hardening global crude oil prices, PTI reported. The two-day meet will kick off on Wednesday.

08:43 AM

Manufacturing activity at 5-month low

Manufacturing sector activity slipped to a five-month low in March as order flow lost momentum, and businesses showed little appetite for recruitment, a private survey showed on Tuesday. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), declined to 51in March from 52.1in February. Since a reading above 50 indicates growth, March’s figure means manufacturing activity remained in expansion mode.

08:43 AM

Jubilant gets notice for GST profiteering

Jubilant FoodWorks has been slapped a notice under GST anti-profiteering rules for allegedly not passing on the benefit of tax rate cut to consumers of Domino’s Pizza across its outlets, according to sources. The Directorate General of Safeguards (DGS) had issued the notice on January 25 after the standing committee under the GST anti-profiteering authority received a couple of complaints from consumers over pricing of food items sold at Domino’s outlet.

08:42 AM

Jhunjhunwala questions Fortis deal

Ace investor Rakesh Jhunjhunwala questioned the recent deal struck by TPG-backed Manipal Hospitals to acquire control of Fortis Healthcare’s hospitals and its SRL Diagnostics unit, giving public expression to a view said to be widely held by minority shareholders and suggesting that it may not go through.

08:42 AM

Rupee appreciates 17 paise against dollar

The rupee made a strong recovery against the US currency to close at 65.01 on Tuesday, surging by 17 paise on fresh bouts of dollar selling, seemingly unfased by escalating trade tensions between the US and China. A massive unwinding of dollar long positions by exporters and corporates lifted the forex sentiment.

08:42 AM

Nifty50 unlikely to cross 11,000 this year: CLSA

The lingering macro concerns are likely to impact the stock market returns in India, with the Nifty unlikely to cross 11,000 mark in the rest of the calendar year 2018, said CLSA. Owing to the limited upside and adverse news flow in the corporate banking space, the firm has reduced weightage on State Bank of India and ICICI Bank in its model portfolio, and added weightage on IndusInd Bank and Emami.

08:42 AM

US stocks settle higher

The Dow Jones Industrial Average index climbed 389.17 points, or 1.65 per cent, to 24,033.36. The S&P500 index advanced 32.57 points, or 1.26 per cent, to 2,614.45. The Nasdaq Composite index added 71.16 points, or 1.04 per cent, to 6,941.28.

08:41 AM

Sensex on Tuesday

Shrugging off weak global cues, the domestic equity market ended in the green for the second session in a row. Sensex rose 115 points for the day to settle at 33,370.63. NSE's Nifty50 added 33 points to close the session at 10,245.

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