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Monday, 23 July 2018

Pre-Opening, Nifty Holds 11,000

IDEAL STOCK July 23, 2018

Ideal Stock Mixed global cues as well as SGX Nifty trends likely to spill over to the market here.

Rupee opens: The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 68.70 per dollar versus previous close 68.84.

The dollar-rupee July contract on the NSE was at 68.92 in the previous session. July contract open interest declined 1.39 percent in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

Market at pre-open: It’s a flat start to the market in pre-opening session, with the Nifty index holding 11,000-mark.

At 09:01 hrs IST, the Sensex is up 42.28 points or 0.12% at 36538.65, and the Nifty up 46.60 points or 0.42% at 11056.80.

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Wednesday, 18 July 2018

Ideal Stock: Nifty seeks to gain foothold

IDEAL STOCK July 18, 2018

Following Monday’s loss, the Nifty Index recovered nearly all of its losses in Tuesday’s trade as the broader market recovered. The benchmark index gained in Tuesday’s breadth and ended the day gaining 71.20 points or 0.65 percent. Market breadth, too, improved as advances outnumbered the declines.

In Tuesday’s trade, the market chose to remain in consolidation mode rather than drifting further down. As we approach Wednesday’s trade, we expect such consolidation to continue and expect the market to trade within a broad range. However, chances of a ranged consolidation are higher, and we do not expect any major corrective decline to happen.
On Wednesday, Nifty index is likely to see immediate resistance at 11,050 and 11,080 levels, while supports should come in at 10,965 and 10,910. In the current context, the intraday strength of Nifty has got wider in terms of finding resistance and support areas.
The Relative Strength Index or RSI on the daily chart stood at 63.0381. It remains neutral and shows no divergence against the price. The daily MACD is bullish, as it trades above the signal line. Apart from of a white body, no significant formations were observed on the candles.
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Pattern analysis shows Nifty has temporarily stalled its rally and is now consolidating after a sharp move following an upward breakout. The index has successfully broken above the falling trend line pattern resistance.
Overall, we still feel it may be a while before the Nifty resumes its upward move and tests its previous high at 11,170. However, it continues to maintain a buoyant structure and shows no sign of any serious downsides. In the event of the broader market witnessing some correction again, Nifty may continue to trade in a range while remaining somewhat volatile.

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Monday, 16 July 2018

Godrej Consumer may be included in Nifty50; stock up ~4.5%

IDEAL STOCK July 16, 2018

As per expectations, the Mumbai-based company could replace state-owned Hindustan Petroleum Corporation Ltd (HPCL) on the benchmark index.

Godrej Consumer Products may soon be included in the Nifty50, as per media reports that stated that the Mumbai-based company could replace state-owned Hindustan Petroleum Corporation Ltd (HPCL) on the benchmark index option & future.
Meanwhile, other expected substitutions include either JSW Steel or Britannia Industries for Lupin. The list announcing the inclusion/exclusion of these firms is expected to come out in August this year, and the stocks will most likely be included in the Nifty from the October series onwards. intraday stock tips
Godrej Consumer Products share price is currently at Rs1,313.95, up Rs57.85, or 4.61%, from its previous close of Rs1,256.10 on the BSE.
The scrip opened at Rs1,256 and has touched a high and low of Rs1,324.55 and Rs1,250.50, respectively. So far, 7,71,469 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs85,581.80cr.
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