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Markets at the opening
Index
Current
Pt. Change
% Change
S & P BSE SENSEX
38,428.62
+38.80
+0.10
S & P BSE SENSEX 50
12,165.41
+36.30
+0.30
S & P BSE SENSEX Next 50
35106.06
179.29
0.51
S & P BSE 100
11934.15
+39.46
0.33
S & P BSE Bharat Index 22
3,671,45
+13.12
0.36
Rupee Rupee Alert at record low, opens 41 paise lower at 72.18
Trading Ideas by Devang Shah
VOLTAS – BUY
CLOSE – Rs 598.40
TARGET – Rs 635-650
VOLTAS closed the day in positive territory. This looks like the end of the short-term fix. Its weekly dynamic indicators are in BUY. He is trading above 20 DMA. One can buy with a stop loss of Rs-562 for the target of Rs 635-650 levels in the short term.
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Short-term outlook for Nifty remains positive: Devang Shah
The short-term outlook for the market remains positive until Nifty is positioned above 11,171 levels and expects short-term goals ranging from 11,800 to 12,000 levels. The medium-term outlook for the market remains positive until Nifty is positioned above 9,951 levels and expects targets ranging from 12,500 to 12,800 medium-term levels. READ MORE
Stock Exchange Calls by Angel Broking:
Tata Motors
See – Bullish
Last closing – Rs 277.40
The stock has lagged behind the last two years and despite a massive appreciation of the index over this period, the stock is trading around its lowest level in five years, which is certainly catastrophic for so many years. # 39; investors. Now, recently, prices have consolidated and formed a short-term basis for the stock. On Friday, we witnessed an escape from this congestion zone with significantly higher volumes. Therefore, we expect the stock to give relief in the coming days. One can seek to achieve a positional goal of 394 Rs in the coming weeks. The stop loss can be placed at Rs 269.
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11,640-11,700 are the levels to watch: Angel Broking
The index must convincingly cross the strong zone of resistance of 11,640 – 11,700, if it is to strengthen in the short term. It seems possible given the broader market participation; but as a trader, one must follow closely how the index behaves around these important levels. On the lower side, 11,484 followed by 11,436 would now be considered immediate and crucial supports. READ MORE
Markets are expected to be fueled by several macroeconomic figures, including WPI inflation and the CPI and factory production data this week. The stock markets will however remain closed Thursday because of Ganesh Chaturthi.
Investors will also keep an eye on the unstable rupee, the rise in world crude oil prices due to concerns over the trade war.
The Indian rupee experienced a sharp depreciation to reach a historic low of 72.10 against the US dollar last week, but was able to recover Friday to close the week at 71.74. The fall in foreign currencies since the beginning of the year is 12.32% due to continuing global difficulties and macroeconomic concerns.
Among macroeconomic data, July's industrial output and CPI inflation in August are expected Wednesday. WPI inflation data for August will be announced on Friday. Industrial production reached its highest level in five months, or 7% in June, while CPI inflation fell to 4.17% in July, the lowest in nine months, as a result of cheaper food products.
Overall, Asian stocks began the week in the red on Monday, weakening for the eighth consecutive day and the dollar climbed against major currencies after US President Donald Trump raised the stakes of the trade dispute with China.
The widest MSCI share of Asia-Pacific equities outside Japan was last down 0.2% after dropping 3.5% last week for its worst weekly rate since mid-March .
The Japanese Nikkei opened lower but losses fell sharply after the revised Q2 GDP data showed that the world's third-largest economy had grown at its fastest pace since 2016. The benchmark Australian
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