< A much needed relief rally was witnessed on the D – Street during yesterday’s trading session. The benchmark indices ended its seven day’s losing streak and closed in green amid the positive global cues. The index NIFTY spot started the session with an upside gap but remained volatile throughout the day to eventually close with significant gains of more than 1.5%. The index retested 11300 mark. On the other hand, the NIFTY BANK index surged more than a percent to recapture 29000 mark.
< The overall market breadth remained highly volatile but ended in the favour of advancing counters. On the sectoral front, all the group indices ended with decent gains. Among the gainers, NIFTY METAL and NIFTY PHARMA stocks were the top performers which ended with a rise of more than 5% each. The broader market indices like the NIFTY MIDCAP100 and NIFTYSMLCAP100 also recovered sharply by around 1.9%.
Market Outlook
< Despite the strong upside, the index Nifty was confined within the range of Monday’s session. The candlestick of Monday’s session has a range of around 400 points (11433 – 11036). For positional purpose, only a move above or below the range will now dictate the major trend.
< Meanwhile, for the coming session 11250 – 11200 would act as an intermediate support in case of any downside and on the upside 11350 – 11430 would be a strong resistance. The volatility is likely to remain for some more time and thus traders are advised to stay light and avoid any aggressive bets.
Bank Nifty Outlook
< Similar to NIFTY, even the NIFTY BANK index underwent a decent pullback during yesterday’s session. Even the NIFTY BANK index is stuck between Monday’s range of 29791 – 28571. For the coming sessions, the index could continue to trade inside this huge range unless there is any major trigger.
< Going ahead, we expect some bounce or a relief rally in the index from the zone of 29,000–28,800. However, below 28700 selling could re-emerge. Traders are advised to remain light and avoid any aggressive bets.
Note on Participants Activity
< In index futures, FIIs remained bullish by adding some longs. In index options they remained neutral by buying both CE and PE options.
< In rupee terms, FII bought index futures of 241 crores and index options they were buyers of 881 crores.
< In cash segment, FII were sellers of around 2416 crores while DIIs bought equities worth 3135 crores.
Derivative Outlook
< Yesterday’s price action of NIFTY future was highly volatile with a rise in OI by 5%. The volumes too were high which indicates addition of both long and shorts.
< The premium of NIFTY Future is now at -9 from -8 points. The PCR has reached 1.21 from 1.01 which is slightly in an oversold zone.
< As per the NIFTY option chain overall OI at 11200 strike PE is now at 1.5 million shares which can act as support. On the upside, there is OI built up in 11400 CE options of around 1.6 million shares which indicate resistance there.
Exhibit 6: LONG BUILT UP
SYMBOL
Close
Price change %
OI
OI Change %
PVR
1721.6
3.39%
1420400
27.41%
NAUKRI
2799.85
4.16%
314400
18.11%
HDFCLIFE
565.4
1.88%
1469700
16.73%
JUBLFOOD
1688.95
1.81%
2823500
14.03%
DIVISLAB
2186
3.36%
2172800
13.47%
Source: Company, IndiaNivesh Research
Exhibit 7: SHORT BUILT UP
SYMBOL
Close
Price change %
OI
OI Change %
EQUITAS
105.4
-1.08%
17826200
5.76%
ITC
194.7
-0.69%
149320800
3.00%
CESC
634.55
-0.71%
1746400
1.96%
Source: Company, IndiaNivesh Research
Exhibit 8: LONG UNWINDING
SYMBOL
Close
Price change %
OI
OI Change %
CONCOR
491.15
-0.79%
4784343
-5.50%
BATAINDIA
1622.4
-0.41%
2478850
-2.91%
BERGEPAINT
544.4
-1.59%
6331600
-1.67%
Source: Company, IndiaNivesh Research
Exhibit 9: SHORT COVERING
SYMBOL
Close
Price change %
OI
OI Change %
TATACHEM
722.55
3.10%
402300
-63.48%
EICHERMOT
17788.9
4.93%
216870
-14.67%
NTPC
105.3
3.54%
67401600
-11.09%
UJJIVAN
340.8
3.87%
5319300
-9.28%
MFSL
591.95
2.92%
2380300
-6.87%
Source: Company, IndiaNivesh Research
Corporate Action
TATA Chemicals Limited
Tata Chemicals will trade ex-Consumer Product Business from today (4th March 2020).
Nifty 50 Pivots
SYMBOL
Close
S2
S1
Pivot
R1
R2
ADANIPORTS
347.30
339.07
343.18
346.12
350.23
353.17
ASIANPAINT
1800.55
1744.18
1772.37
1795.18
1823.37
1846.18
AXISBANK
687.15
665.18
676.17
685.98
696.97
706.78
BAJAJ-AUTO
2692.25
2614.75
2653.50
2691.75
2730.50
2768.75
BAJFINANCE
4454.10
4261.47
4357.78
4416.37
4512.68
4571.27
BAJAJFINSV
8963.65
8483.45
8723.55
8920.10
9160.20
9356.75
BPCL
425.00
408.23
416.62
421.88
430.27
435.53
BHARTIARTL
520.80
503.57
512.18
522.77
531.38
541.97
INFRATEL
219.35
207.18
213.27
219.13
225.22
231.08
BRITANNIA
3026.50
2931.83
2979.17
3012.33
3059.67
3092.83
CIPLA
425.30
391.63
408.47
418.83
435.67
446.03
COALINDIA
178.20
167.50
172.85
176.25
181.60
185.00
DRREDDY
3043.70
2870.90
2957.30
3017.65
3104.05
3164.40
EICHERMOT
17888.45
17135.48
17511.97
17776.48
18152.97
18417.48
GAIL
103.20
97.87
100.53
102.17
104.83
106.47
GRASIM
700.05
658.28
679.17
691.88
712.77
725.48
HCLTECH
565.05
549.18
557.12
562.93
570.87
576.68
HDFCBANK
1181.80
1161.03
1171.42
1178.38
1188.77
1195.73
HEROMOTOCO
2054.85
1943.72
1999.28
2031.57
2087.13
2119.42
HINDALCO
159.30
147.20
153.25
156.85
162.90
166.50
HINDUNILVR
2166.65
2118.08
2142.37
2165.98
2190.27
2213.88
HDFC
2191.40
2143.60
2167.50
2197.20
2221.10
2250.80
ICICIBANK
514.75
503.25
509.00
514.25
520.00
525.25
ITC
193.85
189.72
191.78
194.62
196.68
199.52
IOC
106.65
102.75
104.70
106.25
108.20
109.75
INDUSINDBK
1108.05
1054.72
1081.38
1099.67
1126.33
1144.62
INFY
747.00
731.33
739.17
749.08
756.92
766.83
JSWSTEEL
246.45
234.28
240.37
244.73
250.82
255.18
KOTAKBANK
1626.30
1567.20
1596.75
1616.55
1646.10
1665.90
LT
1181.30
1151.97
1166.63
1176.72
1191.38
1201.47
M&M
466.25
448.42
457.33
464.17
473.08
479.92
MARUTI
6386.05
6221.25
6303.65
6362.90
6445.30
6504.55
NTPC
108.90
102.07
105.48
107.72
111.13
113.37
NESTLEIND
16359.40
15960.80
16160.10
16329.55
16528.85
16698.30
ONGC
93.35
87.98
90.67
92.33
95.02
96.68
POWERGRID
191.70
176.83
184.27
189.48
196.92
202.13
RELIANCE
1342.85
1307.68
1325.27
1339.58
1357.17
1371.48
SBIN
289.85
280.75
285.30
289.85
294.40
298.95
SUNPHARMA
393.55
364.58
379.07
387.73
402.22
410.88
TCS
2036.20
1988.07
2012.13
2036.07
2060.13
2084.07
TATAMOTORS
130.35
122.85
126.60
129.00
132.75
135.15
TATASTEEL
41.85
39.28
40.57
41.28
42.57
43.28
TECHM
752.30
735.13
743.72
750.68
759.27
766.23
TITAN
1247.00
1201.00
1224.00
1248.00
1271.00
1295.00
UPL
521.55
506.15
513.85
520.25
527.95
534.35
ULTRACEMCO
4299.90
4090.70
4195.30
4262.15
4366.75
4433.60
VEDL
119.55
110.72
115.13
118.07
122.48
125.42
WIPRO
223.70
218.17
220.93
223.37
226.13
228.57
YESBANK
31.20
28.87
30.03
31.67
32.83
34.47
ZEEL
251.10
224.87
237.98
246.97
260.08
269.07
Note: The levels for TATASTEEL are of TATASTEEL Partly Paid up Share.
Disclaimer: Investment in securities market / Mutual Funds are subject to market risks, read all the related documents carefully before investing.
Posted by Mehul Kothari | Published on 04-MAR-2020
The USDINR rebounded from the day’s low of 72.2550 and surged to a six-month high 73.00 yesterday. The pair gained sharply following reports of a missile launch by North Korea amid some oil-related dollar buying. South Korean military officials said North Korea launched two unidentified projectiles off its east coast on Monday, which could be the country's first weapons test since November 28. Earlier in the morning, the pair opened lower as the greenback slumped against major counterparts on hardening expectations that the US Federal Reserve will cut interest rates at its policy review this month to protect the economy from the rapid spread of the coronavirus.
Technically, our bullish outlook since 24 February 2020 has proven accurate, as after breaking the pennant resistance of 72.05 the USDINR pair inched higher towards 73.0125. The formation of a long bullish candlestick on the EOD chart is still indicating a bullish momentum in the near future. However, the pair will have to break the immediate resistance of 73.05, as a break above 73.05 will lead to a bullish momentum towards next the resistance of 73.25–73.55. Alternatively, any temporary correction towards 72.55–72.45 could attract buying in the near future.
Trend: Bullish
The GBPINR pair remained negative and settled at 93.11 as compared to the previous day’s close of 93.3475. The pair retreated from the day’s high of 93.3425, and dropped to the day’s low 92.46, as the pound plunged against the US dollar on concerns that Bank of England Governor Mark Carney may go for an unscheduled reduction in borrowing cost after the Bank of England (BoE) announced that it will 'take all necessary steps to protect the UK's economic stability’. Also, weaker than expected manufacturing sector data further weighed on the pound.
Technically, on the EOD chart, the GBPINR pair was unable to cross its massive resistance of 93.65, which coincided with a symmetrical triangle resistance and formed a high-wave candlestick, both of which are still indicating a bearish momentum in the near future and any temporary recovery towards 93.35–93.45 could attract selling activities in the near future. Alternatively, only a break above 93.65 will cause bullish momentum and the GBPINR may test immediate resistance of 93.85–94.20.
Trend: Bearish
Major economic data and events released yesterday/earlier today
Note: Economic data expectations are based on median forecast by economists or Reuters and Bloomberg survey. Here, a positive impact indicates currency could appreciate and negative indicates currency could depreciate against the US dollar.
Technical chart source: TickerNews
Source: TickerNews, Forexfactory.com, forexlive.com, Reuters, and investing.com
*DOS – Depends on Statement. DOV – Depends on Votes.
Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (IndiaNivesh), for use by the recipient as information only and is not for circulation or public distribution. This document is not to be reproduced, copied, redistributed or published or made available to others, in whole or in part without prior permission from us. This document is not to be construed as an offer to sell or the solicitation of an offer to buy any currency pair. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. The information contained in this document has been obtained from sources that are considered as reliable though its accuracy or Completeness has not been verified by IndiaNivesh independently and cannot be guaranteed. Neither IndiaNivesh nor any of its affiliates, its directors or its employees accepts any responsibility or whatever nature for the information, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this material only. IndiaNivesh directors and its clients may have holdings in the currencies mentioned in the report.
)
Share Market Today 4th March 2020
Market Recap
< A much needed relief rally was witnessed on the D – Street during yesterday’s trading session. The benchmark indices ended its seven day’s losing streak and closed in green amid the positive global cues. The index NIFTY spot started the session with an upside gap but remained volatile throughout the day to eventually close with significant gains of more than 1.5%. The index retested 11300 mark. On the other hand, the NIFTY BANK index surged more than a percent to recapture 29000 mark.
< The overall market breadth remained highly volatile but ended in the favour of advancing counters. On the sectoral front, all the group indices ended with decent gains. Among the gainers, NIFTY METAL and NIFTY PHARMA stocks were the top performers which ended with a rise of more than 5% each. The broader market indices like the NIFTY MIDCAP100 and NIFTYSMLCAP100 also recovered sharply by around 1.9%.
Market Outlook
< Despite the strong upside, the index Nifty was confined within the range of Monday’s session. The candlestick of Monday’s session has a range of around 400 points (11433 – 11036). For positional purpose, only a move above or below the range will now dictate the major trend.
< Meanwhile, for the coming session 11250 – 11200 would act as an intermediate support in case of any downside and on the upside 11350 – 11430 would be a strong resistance. The volatility is likely to remain for some more time and thus traders are advised to stay light and avoid any aggressive bets.
Bank Nifty Outlook
< Similar to NIFTY, even the NIFTY BANK index underwent a decent pullback during yesterday’s session. Even the NIFTY BANK index is stuck between Monday’s range of 29791 – 28571. For the coming sessions, the index could continue to trade inside this huge range unless there is any major trigger.
< Going ahead, we expect some bounce or a relief rally in the index from the zone of 29,000–28,800. However, below 28700 selling could re-emerge. Traders are advised to remain light and avoid any aggressive bets.
Note on Participants Activity
< In index futures, FIIs remained bullish by adding some longs. In index options they remained neutral by buying both CE and PE options.
< In rupee terms, FII bought index futures of 241 crores and index options they were buyers of 881 crores.
< In cash segment, FII were sellers of around 2416 crores while DIIs bought equities worth 3135 crores.
Derivative Outlook
< Yesterday’s price action of NIFTY future was highly volatile with a rise in OI by 5%. The volumes too were high which indicates addition of both long and shorts.
< The premium of NIFTY Future is now at -9 from -8 points. The PCR has reached 1.21 from 1.01 which is slightly in an oversold zone.
< As per the NIFTY option chain overall OI at 11200 strike PE is now at 1.5 million shares which can act as support. On the upside, there is OI built up in 11400 CE options of around 1.6 million shares which indicate resistance there.
Exhibit 6: LONG BUILT UP
SYMBOL
Close
Price change %
OI
OI Change %
PVR
1721.6
3.39%
1420400
27.41%
NAUKRI
2799.85
4.16%
314400
18.11%
HDFCLIFE
565.4
1.88%
1469700
16.73%
JUBLFOOD
1688.95
1.81%
2823500
14.03%
DIVISLAB
2186
3.36%
2172800
13.47%
Source: Company, IndiaNivesh Research
Exhibit 7: SHORT BUILT UP
SYMBOL
Close
Price change %
OI
OI Change %
EQUITAS
105.4
-1.08%
17826200
5.76%
ITC
194.7
-0.69%
149320800
3.00%
CESC
634.55
-0.71%
1746400
1.96%
Source: Company, IndiaNivesh Research
Exhibit 8: LONG UNWINDING
SYMBOL
Close
Price change %
OI
OI Change %
CONCOR
491.15
-0.79%
4784343
-5.50%
BATAINDIA
1622.4
-0.41%
2478850
-2.91%
BERGEPAINT
544.4
-1.59%
6331600
-1.67%
Source: Company, IndiaNivesh Research
Exhibit 9: SHORT COVERING
SYMBOL
Close
Price change %
OI
OI Change %
TATACHEM
722.55
3.10%
402300
-63.48%
EICHERMOT
17788.9
4.93%
216870
-14.67%
NTPC
105.3
3.54%
67401600
-11.09%
UJJIVAN
340.8
3.87%
5319300
-9.28%
MFSL
591.95
2.92%
2380300
-6.87%
Source: Company, IndiaNivesh Research
Corporate Action
TATA Chemicals Limited
Tata Chemicals will trade ex-Consumer Product Business from today (4th March 2020).
Nifty 50 Pivots
SYMBOL
Close
S2
S1
Pivot
R1
R2
ADANIPORTS
347.30
339.07
343.18
346.12
350.23
353.17
ASIANPAINT
1800.55
1744.18
1772.37
1795.18
1823.37
1846.18
AXISBANK
687.15
665.18
676.17
685.98
696.97
706.78
BAJAJ-AUTO
2692.25
2614.75
2653.50
2691.75
2730.50
2768.75
BAJFINANCE
4454.10
4261.47
4357.78
4416.37
4512.68
4571.27
BAJAJFINSV
8963.65
8483.45
8723.55
8920.10
9160.20
9356.75
BPCL
425.00
408.23
416.62
421.88
430.27
435.53
BHARTIARTL
520.80
503.57
512.18
522.77
531.38
541.97
INFRATEL
219.35
207.18
213.27
219.13
225.22
231.08
BRITANNIA
3026.50
2931.83
2979.17
3012.33
3059.67
3092.83
CIPLA
425.30
391.63
408.47
418.83
435.67
446.03
COALINDIA
178.20
167.50
172.85
176.25
181.60
185.00
DRREDDY
3043.70
2870.90
2957.30
3017.65
3104.05
3164.40
EICHERMOT
17888.45
17135.48
17511.97
17776.48
18152.97
18417.48
GAIL
103.20
97.87
100.53
102.17
104.83
106.47
GRASIM
700.05
658.28
679.17
691.88
712.77
725.48
HCLTECH
565.05
549.18
557.12
562.93
570.87
576.68
HDFCBANK
1181.80
1161.03
1171.42
1178.38
1188.77
1195.73
HEROMOTOCO
2054.85
1943.72
1999.28
2031.57
2087.13
2119.42
HINDALCO
159.30
147.20
153.25
156.85
162.90
166.50
HINDUNILVR
2166.65
2118.08
2142.37
2165.98
2190.27
2213.88
HDFC
2191.40
2143.60
2167.50
2197.20
2221.10
2250.80
ICICIBANK
514.75
503.25
509.00
514.25
520.00
525.25
ITC
193.85
189.72
191.78
194.62
196.68
199.52
IOC
106.65
102.75
104.70
106.25
108.20
109.75
INDUSINDBK
1108.05
1054.72
1081.38
1099.67
1126.33
1144.62
INFY
747.00
731.33
739.17
749.08
756.92
766.83
JSWSTEEL
246.45
234.28
240.37
244.73
250.82
255.18
KOTAKBANK
1626.30
1567.20
1596.75
1616.55
1646.10
1665.90
LT
1181.30
1151.97
1166.63
1176.72
1191.38
1201.47
M&M
466.25
448.42
457.33
464.17
473.08
479.92
MARUTI
6386.05
6221.25
6303.65
6362.90
6445.30
6504.55
NTPC
108.90
102.07
105.48
107.72
111.13
113.37
NESTLEIND
16359.40
15960.80
16160.10
16329.55
16528.85
16698.30
ONGC
93.35
87.98
90.67
92.33
95.02
96.68
POWERGRID
191.70
176.83
184.27
189.48
196.92
202.13
RELIANCE
1342.85
1307.68
1325.27
1339.58
1357.17
1371.48
SBIN
289.85
280.75
285.30
289.85
294.40
298.95
SUNPHARMA
393.55
364.58
379.07
387.73
402.22
410.88
TCS
2036.20
1988.07
2012.13
2036.07
2060.13
2084.07
TATAMOTORS
130.35
122.85
126.60
129.00
132.75
135.15
TATASTEEL
41.85
39.28
40.57
41.28
42.57
43.28
TECHM
752.30
735.13
743.72
750.68
759.27
766.23
TITAN
1247.00
1201.00
1224.00
1248.00
1271.00
1295.00
UPL
521.55
506.15
513.85
520.25
527.95
534.35
ULTRACEMCO
4299.90
4090.70
4195.30
4262.15
4366.75
4433.60
VEDL
119.55
110.72
115.13
118.07
122.48
125.42
WIPRO
223.70
218.17
220.93
223.37
226.13
228.57
YESBANK
31.20
28.87
30.03
31.67
32.83
34.47
ZEEL
251.10
224.87
237.98
246.97
260.08
269.07
Note: The levels for TATASTEEL are of TATASTEEL Partly Paid up Share.
Disclaimer: Investment in securities market / Mutual Funds are subject to market risks, read all the related documents carefully before investing.
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Share Market Today 3rd March 2020
Market Recap The overall market breadth remained extremely week during the first half but turned negative at the end of the session. On the sectoral front, apart from NIFTY IT all the group indices ended with heavy losses due to broad-based selling. Among the losers, NIFTY PSU BANK and NIFTY MEDIA stocks were the worst performers. The broader market indices like the NIFTY MIDCAP100 and NIFTYSMLCAP100 ended with a loss of around 0.6% to 1.20%. Market Outlook Bank Nifty Outlook However, 30,000 is likely to remain a strong resistance for the index, from where selling could remerge. Traders are advised to remain light and avoid any aggressive bets Note on Participants Activity Derivative Outlook Exhibit 6: LONG BUILT UP SYMBOL Close Price change % OI OI Change % NAUKRI 2688 3.46% 266200 76.29% ESCORTS 847.45 8.60% 5090800 26.90% BANDHANBNK 394.8 2.81% 3176400 17.85% MINDTREE 929.5 2.10% 1184800 17.17% IBULHSGFIN 284.8 2.30% 22888800 10.14% Source: Company, IndiaNivesh Research Exhibit 7: SHORT BUILT UP SYMBOL Close Price change % OI OI Change % PVR 1665.2 -9.93% 1114800 38.24% INDIGO 1208.9 -5.84% 3374700 24.27% MOTHERSUMI 100.05 -2.10% 24310000 18.15% JUBLFOOD 1658.9 -5.10% 2476000 9.12% BALKRISIND 1067.55 -2.71% 1680000 8.81% Source: Company, IndiaNivesh Research Exhibit 8: LONG UNWINDING SYMBOL Close Price change % OI OI Change % TATACHEM 700.85 -1.48% 1101600 -44.69% IDEA 3.45 -11.54% 459228000 -9.85% NIFTY 11123.7 -0.23% 15238575 -9.09% NTPC 101.7 -2.49% 75806400 -8.88% BIOCON 280.95 -2.09% 10658200 -7.43% Source: Company, IndiaNivesh Research Exhibit 9: SHORT COVERING SYMBOL Close Price change % OI OI Change % TORNTPOWER 308.3 2.51% 3711000 -14.51% L&TFH 102.4 2.40% 18978400 -11.54% NIFTYIT 15410 1.83% 4550 -9.90% EICHERMOT 16952.5 2.19% 254160 -9.02% NIITTECH 1767.1 5.86% 566625 -7.30% Source: Company, IndiaNivesh Research Nifty 50 Pivots SYMBOL Close S2 S1 Pivot R1 R2 ADANIPORTS 340.65 330.58 335.62 343.33 348.37 356.08 ASIANPAINT 1786.80 1729.63 1758.22 1797.83 1826.42 1866.03 AXISBANK 684.20 652.97 668.58 690.92 706.53 728.87 BAJAJ-AUTO 2792.20 2663.73 2727.97 2836.23 2900.47 3008.73 BAJFINANCE 4360.75 4115.82 4238.28 4428.12 4550.58 4740.42 BAJAJFINSV 8914.50 8515.50 8715.00 9007.50 9207.00 9499.50 BPCL 412.35 384.88 398.62 420.23 433.97 455.58 BHARTIARTL 518.35 497.92 508.13 522.07 532.28 546.22 INFRATEL 216.85 201.72 209.28 217.77 225.33 233.82 BRITANNIA 2949.10 2847.07 2898.08 2976.02 3027.03 3104.97 CIPLA 401.95 386.02 393.98 402.62 410.58 419.22 COALINDIA 169.35 164.18 166.77 170.88 173.47 177.58 DRREDDY 2905.55 2805.02 2855.28 2926.27 2976.53 3047.52 EICHERMOT 17013.40 16006.53 16509.97 17146.43 17649.87 18286.33 GAIL 99.65 93.25 96.45 101.90 105.10 110.55 GRASIM 668.45 631.55 650.00 675.75 694.20 719.95 HCLTECH 549.70 523.13 536.42 551.13 564.42 579.13 HDFCBANK 1179.60 1147.30 1163.45 1182.30 1198.45 1217.30 HEROMOTOCO 1975.45 1866.48 1920.97 2015.48 2069.97 2164.48 HINDALCO 149.75 138.08 143.92 152.68 158.52 167.28 HINDUNILVR 2159.45 2080.98 2120.22 2181.08 2220.32 2281.18 HDFC 2179.65 2099.38 2139.52 2193.93 2234.07 2288.48 ICICIBANK 506.10 486.27 496.18 508.37 518.28 530.47 ITC 195.30 187.67 191.48 197.47 201.28 207.27 IOC 103.95 96.85 100.40 106.65 110.20 116.45 INDUSINDBK 1079.25 1028.52 1053.88 1095.42 1120.78 1162.32 INFY 741.05 714.75 727.90 746.90 760.05 779.05 JSWSTEEL 235.00 221.80 228.40 237.45 244.05 253.10 KOTAKBANK 1599.00 1553.73 1576.37 1606.83 1629.47 1659.93 LT 1160.90 1112.80 1136.85 1174.60 1198.65 1236.40 M&M 458.30 430.27 444.28 458.37 472.38 486.47 MARUTI 6285.15 6135.35 6210.25 6324.90 6399.80 6514.45 NTPC 103.90 98.23 101.07 105.53 108.37 112.83 NESTLEIND 16109.95 15694.65 15902.30 16108.65 16316.30 16522.65 ONGC 89.10 84.03 86.57 90.78 93.32 97.53 POWERGRID 183.50 178.70 181.10 184.15 186.55 189.60 RELIANCE 1316.15 1260.85 1288.50 1328.75 1356.40 1396.65 SBIN 287.40 266.53 276.97 294.48 304.92 322.43 SUNPHARMA 369.50 351.87 360.68 372.17 380.98 392.47 TCS 2001.30 1945.40 1973.35 2013.65 2041.60 2081.90 TATAMOTORS 125.40 117.60 121.50 127.70 131.60 137.80 TATASTEEL 39.95 36.72 38.33 40.62 42.23 44.52 TECHM 744.55 724.42 734.48 744.47 754.53 764.52 TITAN 1244.15 1189.38 1216.77 1255.38 1282.77 1321.38 UPL 514.35 489.85 502.10 521.85 534.10 553.85 ULTRACEMCO 4141.70 3941.10 4041.40 4178.85 4279.15 4416.60 VEDL 110.95 102.72 106.83 113.12 117.23 123.52 WIPRO 220.80 213.47 217.13 222.07 225.73 230.67 YESBANK 31.55 26.55 29.05 32.30 34.80 38.05 ZEEL 233.85 218.52 226.18 237.57 245.23 256.62 Note: The levels for TATASTEEL are of TATASTEEL Partly Paid up Share. Disclaimer: Investment in securities market / Mutual Funds are subject to market risks, read all the related documents carefully before investing. )
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Currency Updates 3rd March 2020
The USDINR rebounded from the day’s low of 72.2550 and surged to a six-month high 73.00 yesterday. The pair gained sharply following reports of a missile launch by North Korea amid some oil-related dollar buying. South Korean military officials said North Korea launched two unidentified projectiles off its east coast on Monday, which could be the country's first weapons test since November 28. Earlier in the morning, the pair opened lower as the greenback slumped against major counterparts on hardening expectations that the US Federal Reserve will cut interest rates at its policy review this month to protect the economy from the rapid spread of the coronavirus. Technically, our bullish outlook since 24 February 2020 has proven accurate, as after breaking the pennant resistance of 72.05 the USDINR pair inched higher towards 73.0125. The formation of a long bullish candlestick on the EOD chart is still indicating a bullish momentum in the near future. However, the pair will have to break the immediate resistance of 73.05, as a break above 73.05 will lead to a bullish momentum towards next the resistance of 73.25–73.55. Alternatively, any temporary correction towards 72.55–72.45 could attract buying in the near future. Trend: Bullish The GBPINR pair remained negative and settled at 93.11 as compared to the previous day’s close of 93.3475. The pair retreated from the day’s high of 93.3425, and dropped to the day’s low 92.46, as the pound plunged against the US dollar on concerns that Bank of England Governor Mark Carney may go for an unscheduled reduction in borrowing cost after the Bank of England (BoE) announced that it will 'take all necessary steps to protect the UK's economic stability’. Also, weaker than expected manufacturing sector data further weighed on the pound. Technically, on the EOD chart, the GBPINR pair was unable to cross its massive resistance of 93.65, which coincided with a symmetrical triangle resistance and formed a high-wave candlestick, both of which are still indicating a bearish momentum in the near future and any temporary recovery towards 93.35–93.45 could attract selling activities in the near future. Alternatively, only a break above 93.65 will cause bullish momentum and the GBPINR may test immediate resistance of 93.85–94.20. Trend: Bearish Major economic data and events released yesterday/earlier today Note: Economic data expectations are based on median forecast by economists or Reuters and Bloomberg survey. Here, a positive impact indicates currency could appreciate and negative indicates currency could depreciate against the US dollar. Technical chart source: TickerNews Source: TickerNews, Forexfactory.com, forexlive.com, Reuters, and investing.com *DOS – Depends on Statement. DOV – Depends on Votes. Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (IndiaNivesh), for use by the recipient as information only and is not for circulation or public distribution. This document is not to be reproduced, copied, redistributed or published or made available to others, in whole or in part without prior permission from us. This document is not to be construed as an offer to sell or the solicitation of an offer to buy any currency pair. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. The information contained in this document has been obtained from sources that are considered as reliable though its accuracy or Completeness has not been verified by IndiaNivesh independently and cannot be guaranteed. Neither IndiaNivesh nor any of its affiliates, its directors or its employees accepts any responsibility or whatever nature for the information, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this material only. IndiaNivesh directors and its clients may have holdings in the currencies mentioned in the report. )