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Friday, February 17, 2017

Nifty Future to open at 8827: Dynamic Levels

According to a report by Dynamic Levels, Nifty Future is opening at 8827.75 as per SGX Nifty at 8:30 am IST, 42 point above its previous close of 8785.

The Indian Benchmark Index Nifty yesterday closed at 8778 after making low of 8720. Nifty was up by 0.61%, the index opened at 8739 and made high of 8784. The index has taken support of its previous day low of 8713.Nifty is trading in a narrow range of 119 points from 8827 to 8708 in last 10 trading sessions.

SmallCap Index was up by 1.54%, the index closed at 6514 after making low of 6415. The Index opened at 6437 and made a high of 6520. The cash market has showed buying of 100 points after four days of continuous selling of 300 points from 6707 made on 9th Feb to 6399 low on 15th Feb.

Bank Nifty is trading in a range of 460 points and closed at 20244 yesterday. The index has taken support 20164 and made a low of 20088.

Nifty Future is opening at 8827.75 as per SGX Nifty at 8:30 am IST, 42 point above its previous close of 8785.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Wednesday, February 8, 2017

Indices may start weak ahead of RBI policy; oil weakness weighs

The S&P 500 ended just above breakeven, with energy stocks falling more than 1 percent to lead the decliners. The Nasdaq Composite reached a new all-time intraday and closing highs.

The market ended yesterday saw minor profit-booking, with Nifty giving up 8,800 and the Sensex losing 100 points ahead of the Reserve Bank of India's monetary policy meet.

This morning, SGX Nifty indicated a lower start for the Indian market, trading 0.2 percent lower to 8,781.

This is amid mixed global cues, with Asian markets trading without firm direction, and with US shares closing marginally higher while European closed mixed yesterday. Oil prices remained under pressure, weighing on energy shares.

The S&P 500 ended just above breakeven, with energy stocks falling more than 1 percent to lead the decliners. The Nasdaq Composite reached a new all-time intraday and closing highs.

The European market closed mixed as earnings and economic data continued to be the main focus for investors. Basic resources were the best performers while oil and gas stocks closed more than 1.48 percent lower.

In the currency space, the dollar index's gains were bolstered by a technical buying after recent losses, as well as political uncertainty in Europe with a slew of elections this year.

Crude prices continued to decline before US government's data forecast, which is expected to show US crude stockpiles expanded for a fifth week.

Gold prices fell following dollar's strength.
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Tuesday, February 7, 2017

Nifty below 8800, Sensex lower; ITC up 5% on SUUTI stake sale

BHEL, ITC, Sun Pharma, Wipro, GAIL, Aurobindo Pharma and IndusInd Bank were early gainers while Dr Reddy's Labs, ICICI Bank, Bharti Airtel, Axis Bank, ONGC, ACC and Eicher Motors were under pressure.

9:49 am FII View: Neelkanth Mishra of Credit Suisse says India is the fifth-best performing market in 2017 (so far) globally. In the first five weeks of 2017, Indian equities have outperformed global equities by 10 percent, nearly reversing the underperformance in November-December 2016.

This has mostly been driven by relative P/E jumping from a near 10-year low of negative 1 percent to positive 5 percent now, he feels.

Mishra remains constructive on narrower indices, given their significant global exposure and past positive correlation with commodity prices.

He will look through distortions induced by strong flows in a market with disoriented expectations, and continue to prefer businesses with non-India exposure.

9:31 am Stake sale: ITC shares gained 5 percent after government confirmed that it sold 2 percent shareholding in the company via block deals.

It is a part of FY17 divestment target of Rs 45,500 crore that has been revised recently from Rs 56,500 crore earlier.

The government, which held 11.12 percent stake (as of December 2016), is likely to get around Rs 6,700 crore through stake sale.

9:15 am Market Check

The market opened moderately lower on Tuesday as investors awaited monetary policy committee decision due tomorrow.

The 30-share BSE Sensex was down 11.54 points at 28427.74 and the 50-share NSE Nifty fell 8.35 points to 8792.70.

BHEL, ITC, Sun Pharma, Wipro, GAIL, Aurobindo Pharma and IndusInd Bank were early gainers while Dr Reddy's Labs, ICICI Bank, Bharti Airtel, Axis Bank, ONGC, ACC and Eicher Motors were under pressure.

The Indian rupee has started off the day on a weak note with all eyes on RBI policy tomorrow. The currency opened at 67. 29 per dollar, a loss of 8 paise against yesterday's closing of 67.21 per dollar.

Bhaskar Panda of HDFC Bank says the dollar index has been trading in and around 100 pivot and apart from this fundamental factor, the rupee has been gaining due to positive impact of the Budget. 

According to him, the USD-INR pair is expected to trade in a range of Rs 67.10-67.30 for today.

Panda says the market is evenly divided on the expectations of rate cut in the policy tomorrow. Asian markets were negative following the sluggishness in global equities amid risk-off sentiment.
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Monday, February 6, 2017

Nifty can gain 47 points at opening: Maximus Securities

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 47 points at the opening bell, says Maximus Securities.

F&O Outlook:

Nifty PCR-OI has increased to 1.11 from 1.04. The rise in the ratio may be due to increase in PE of 8700 and decrease in CE of 8600. 9 PE of 8700 and CE of 8800 are the highest number of contracts traded.

Opening for the Day:

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 47 points at the opening bell.

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