Sensex surges over 100 points; Nifty50 tops 8,750; Amtek Auto rallies 9%

Best Advisory Company | Equity Market Tips

NEW DELHI :  The S&P BSE Sensex rallied as much as 159 points in early morning trade on Tuesday, led by gains in Tata Motors, RIL, HDFC Bank, Hero MotoCorp, and ONGC.

The Nifty50 reclaimed its crucial psychological level of 8,750 supported by gains in realty, power, consumer durable, capital goods, auto, and IT stocks.

Equity Market Tips

At 09:20 am :  The 30-share index was trading 84 points higher or 0.30 per cent at 28,327. It touched a high of 28,402.65 and a low of 28,316.81 in morning trade.

The Nifty50 was trading at 8,758 up 20 points or 0.23 per cent. It touched a high of 8,772.40 and a low of 8,751.60 in the first 30 minutes of trade.

ONGC (up 2 per cent), Adani Ports (up 1.7 per cent), Hero MotoCorp (up 1.50 per cent), RIL (up 0.8 per cent), and Tata Motors (up 0.87 per cent) were the major Sensex gainers.

Coal India (down 0.8 per cent), Axis Bank (down 0.52 per cent) and Bharti Airtel (down 0.30 per cent) were the major Sensex losers.

The domestic equity indices are likely to trade on a cautious note on Tuesday ahead of the Reserve Bank of India’s policy review later in the day. Fresh concerns over Brexit impact, hangover from Deustche Bank’s $14 billion penalty and fears of a Fed rate hike after better-than-expected US manufacturing numbers may dampen market sentiment.

Analysts mixed on RBI policy outcome: While many economists on Dalal Street are expecting a status quo on the policy rate this time, some experts see a 25 basis points rate cut in the policy review later in the day.

“We foresee a 25bps cut in repo rate in the monetary policy review. Recall that RBI maintained status quo in August, citing rise in inflation and upside risks to 5 per cent projection of March 2017. Since then, headline inflation has fallen sharply and more importantly, further disinflation is in store over the next few months as pulses prices deflate,” brokerage EdelweissBSE -1.95 % Securities said in a note.

“One may argue that RBI would wait till December for further confirmation of the disinflationary trend, but we think the Monetary Policy Committee (MPC) will be uncomfortable cutting rates very close to a potential Fed rate hike,” the brokerage said.


Nifty50 made Long White Day pattern : 

A ‘Long White Day’ signifies that the market witnessed sustained buying interest from the bulls for the most part of the trading day, which is a bullish sign. Traders’ should wait for the index to close decisively above its crucial resistance level of 8,800 to create fresh long positions. Exiting long positions should be held on with a stop loss of 8,550.

If you want to more information regarding the Best Advisory CompanyEquity Market Tips, Free Stock Cash Tips, Free Stock Future Tips, Nifty Future Premium Tips, Bullion Market Tips  call @ +91-7415033556or fill form


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s