Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

A morning walk down Dalal Street | Market is in a strong trend, maintain buy on dips approach.

Date: 16-08-2018
Subject: A morning walk down Dalal Street | Market is in a strong trend, maintain buy on dips approach
India market recouped losses and formed a bullish candle after three consecutive bearish candles. The S&P BSE Sensex rose by over 200 points while Nifty50 climbed 11,400 on Tuesday.

Indian market remained shut on Wednesday on account of Independence Day.

The buying was seen across the board, but Pharma and IT stocks were the major gainer's thanks to fall in rupee which breached Rs 70/USD.

Crucial support now placed at 11,340 while on the upside 11,478 and 11,495 are crucial support zone to be watched out for.

The market is in a strong trend and hence, one should not get carried away by such in between hiccups and maintain buy on dips approach.

PMs Address to the nation had something from everyone: He announced a permanent commission for women in the armed forces and vowed to launch India’s first manned space mission by 2022.

He also announced that the Pradhan Mantri Jan Arogya Abhiyan (PRAJAA), billed as the world’s largest state-funded health insurance programme benefitting 500 million people, would be launched on September 25.

Big News:

Well, the big news comes from rupee

After falling to a historic low of 70.08 to the US dollar during the day, the rupee on Tuesday ended at 69.89, up 2 paise from its previous close of 69.91.

The fall over the last few days was caused by jitters in emerging market countries post the Turkish Lira falling sharply due to its economic crisis.

However, the fact that Turkish Lira has recovered sharply on Tuesday by 5 percent may ease the pressure on the Rupee. In addition, soft CPI number for July 2018 will also help to ease fears of a continued rate hike by the RBI.

Sectors which are likely to receive positive impact from depreciating rupee are export-oriented sectors like IT and pharma while it would be negative for the telecom industry, as well as capital goods.

Stocks which are likely to get impacted the most in a positive way include names like Aurobindo Pharma Limited, Alembic Pharmaceutical Limited, The Indian Hotels Company Limited, Cyient Limited, and Persistent Systems.

Technical View:

Nifty formed a bullish candle on daily charts

The index closed decisively above psychological 11,400 levels despite mixed global cues, forming bullish candle on the daily candlestick charts.

The price chart is suggesting bullishness but technical oscillators on lower time frame charts are still on sell mode.

As technical picture, as of now, is looking mixed traders are advised to remain cautiously optimistic with a stop below 11,367 levels, suggest experts.

Three levels: 11367, 11478, 11500

Max Call OI: 11500, 11600

Max Put OI: 11000, 11200

Stocks in news:

Fortis Health posts Rs 52.8 crore Q1 loss; shareholders approve USD 1.1 billion deal with IHH

Punj Lloyd Q1 net loss widens to Rs 216 crore

Prabhat Dairy Q1 profit up 91 percent at Rs 11 crore

Technical Recommendations:

Arvind: Buy| CMP: Rs. 396.55| Target Rs 424| Stop loss Rs 383 | Return: 7%

Coffee Day Enterprises: Buy | CMP: Rs 247.40 | Target Rs 272 | Stop loss Rs 237 | Return: 10%

Dewan Housing Finance: BUY | CMP: Rs 658.20 | Target: Rs 730 | Stop loss Rs 628 | Return: 11%

Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 12-01-2021
Notification No. 02/2021 - Central Tax
Seeks to make amendment (2021) to CGST Rules, 2017.

Date: 11-01-2021
Trade Notice No. 37/2020-2021
Electronic Issuance of Preferential Certificate of Origin (CoO) for India’s Exports to UK under Generalised Scheme of Preferences (GSP)

Date: 08-01-2021
Public Notice No. 37/2015-2020-DGFT
Enlistment under Appendix 2E of M/s The All India Plastics Manufacturers’ Association (North Zone), Gurugram, Haryana - Authorized to issue Certificate of Origin (Non-Preferential) – reg.

Date: 07-01-2021
Notification No. 55/2015-2020-DGFT
Amendment in import policy and condition of items classified under Chapter 41 & 43 of ITC (HS), 2017, Schedule – I (Import Policy).

Date: 07-01-2021
Notification No.03/2021 - Customs (N.T.)
Exchange rate Notification No.03/2021-Cus (NT) dated 7.1.2021

Date: 06-01-2021
Notification No. 03/2021-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 06-01-2021
Notification No. 1/2021 -Customs (ADD)
Seeks to further amend notification No. 2/2016-Customs (ADD) dated 28th Jan, 2016 to extend the levy of Anti-Dumping duty on Melamine originating in or exported from China PR, up to and inclusive of 28th Feb, 2021.

Date: 04-01-2021
Trade Notice No. 36/2020-21
Cyber fraud complaints from Indian Exporters - Trade Advisory reg

Date: 04-01-2021
Notification No. 02/2021-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 04-01-2021
Notification No. 02/2021-Customs (N.T.)
To rescind the Customs (Advance Rulings) Rules 2002

Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001