MMMFS BASEMETAL: SELL MCX ZINC JULY BELOW 181.90, TGTS 181.40-181.00-180.4 SL 182.50
Monday, 17 July 2017
US indices hit fresh all time highs as oil prices continue pullback with energy stocks joining the rally. US Dollar hits September lows as bearish bets mount on the currency with bond yields also seeing some weakness.
Asian indices opened in the green for another day with most indices now trading at fresh highs. With US Dollar weakness most ETF flows are gathering further momentum with Asian indices seeing strong inflows into equity markets. Despite overbought conditions the trend seems strongly upwards as liquidity surges to highest levels in 2017.
Nifty hit 9900 before closing marginally lower as profit booking set in late on Friday. For today expect a strong start above 9900 with profit taking again expected in second half as local mutual funds book profit.
Corporate results will be the key as large cap stocks report earnings this week. For today PSU banks and Gas utilities could see upside while profit booking could emerge in Metals and FMCG counters.
Technical view: Nifty finds strong support around 9850 while 9935 will act as resistance on the upside. Bank Nifty finds support around 23750 while 24100 will act as initial resistance on the upside.
In the last trading session, Nifty took a breather as the index hinted marginal profit booking. Nifty 9800CE witnessed short covering, while 9800PE saw fresh short build-up, indicating a continued upward momentum.
Bank Nifty 24000CE added fresh long position.
DIIs were net buyers in cash market segment to the tune of Rs 674 Cr.
FII’s long/short ration stands at 2x.
Britannia is scouting for profitable growth opportunities, especially in the bakery segment, to strengthen its position as a leading food company in the country, according to the company's annual report. (ET)
For More Detail Visit -- http://www.moneymarketmanthan.com/
Or Call on - 9644479356
US indices hit fresh all time highs as oil prices continue pullback with energy stocks joining the rally. US Dollar hits Septembe...
MCX GOLD FEB RESISTANCE - 28159, 28251, 28402 SUPPORT - 27857, 27765, 27614 MCX SILVER MARCH RESISTANCE...