VERY IMPORTANT MARKET DATA LIVE FOR 10 JAN 2017 DURING MARKET HOURS

OTHER IMPORTANT DATA FOR TODAY :

Market Update:

Sgx Nifty +12 pts ‎Dow -76.42 pts ,Nsdq +10.76 pts , S&P -8.08 pts , Bovespa -34 pts , Ftse +27 pts  , Dax -35 pts  , Cac +28 pts , Nikkei  Clsd , Crude @ $51.91 brl (-2.16), Brent @ $54.94 brl (+0.00) , Gold @ $1181.80 (-3.10), Silver @ $16.61 (-0.06), Euro @ $1.0589, JPY @ $115.9300, INR @ $68.2050

Today's Corporate Action

10th Jan  Ex Date

None

Today's Key Result

10th Jan

Indus Ind Bank(Net 707 Cr + 21% Yoy Time- During Mkt)

Pennar Allum

Srcs-Est Cogencis

Ø  Jio plans to reward its employees with stock options

Ø  Canadian pension funds may pump $3 bn into Maha

Ø  Ajay Piramal to hike stake in Shriram Capital

Ø  Govt tells IOC, HPCL, BPCL to double dividend payout

Ø  Mistry family has no right to nominate director: Tata Sons

Ø  No charge if you pay by card at petrol pumps 

Ø  Mondelez to pay $13 mn to settle India FCPA charges

Ø  Tatas question Mistry's right to move NCLT

Ø  HSBC pegs GDP growth at 6.3% on note ban pains

Ø  Higher tax mop-up reflects no slowdown post note ban:FM

Ø  Donald Trump praises Ford, Fiat Chrysler for US investments

Ø  Aurobindo aims for top-5 position in Europe

Ø  Japan's Takeda to buy US cancer drug maker Ariad in $5.2 billion deal

Ø  Curbs on capital outflow unlikely: PBOC advisor

Ø  FRBM panel studying GDP, tax numbers; to submit report soon 

Ø  BoB offers lowest home loans rates at 8.35% 

Ø  JLR defies Brexit uncertainties

Ø  MaxVIL to sell 22.5% stake to New York Life arm for Rs121 cr

Ø  Divis Labs files response to USFDA observations 

Ø  HDFC Ergo enters trade credit insurance 

Ø  RBI facing ‘reputational' risk, says former governor V. Y. Reddy

Ø  LIC lowers equity investment target to Rs50,000 cr for FY17

Ø  Moody’s, ICRA see banks hurting from asset quality concerns in medium term

Ø  Reliance Jio launch pushes Vodafone to seek merger in India: Report

Ø  Cash deposits made before demonetisation also under tax department lens

Ø  Power Ministry to give major thrust to hydro power, says Piyush Goyal

Ø  ADB operations reach a record $31.5 billion in 2016

Ø  Income Tax department detects undisclosed income of over Rs 5300 crore

Ø  McDonald’s sells China business in deal worth up to $2.1 bn

Ø  Strong MF inflows in December kept equity market stable

Ø  Banks’ credit cost to remain high from ageing NPAs

Ø  Castor seed starts trading, prices to drop till April

Ø  India’s 1st global stock exchange targets $48b in banking activities

Ø  Rlys, NBCC may join hands for smart stations

Market Cues

Indian markets are likely to open flat with a positive bias tracking SGX Nifty.

U.S. markets had a mixed session with energy stocks moving downward on lower oil prices. The NYSE Arca Natural gas Index fell by 2.4 percent, while the NYSE Arca Oil & Gas Index slid by 1.4 percent. Lack of economic data as well as upcoming earnings updates from financial giants Bank of America (BAC), JPMorgan Chase (JPM), and Wells Fargo (WFC) kept trading activity low during the session.

The FTSE closed positive in spite of negative news regarding Brexit and economic data. The British pound drifted lower on worries over the likelihood of a "hard Brexit," after comments by the U.K. Prime Minister. British house price inflation accelerated unexpectedly at the end of the year. House prices climbed 6.5 percent in three months to December YoY. This was against an expected inflation of 5.8 percent.

Indian Market closed flat on Monday as investors await the third quarter earnings results as well as data relating to December CPI and November factory data. The major loser for the session was the Pharma index which closed down 1.42 percent. The IT index recovered the previous session’s losses to close up 0.87 percent. FII sentiment continues to remain weak as FII selling continued.

Sensex (26727) / Nifty (8236)

Our markets began the new trading week with a mildly positive bias owing to positive cues from the Asian bourses. However, we saw minor dip from early morning’s high which was then followed by a consolidation for the remaining part of the day. Eventually, the Nifty ended the session tad below the 8250 mark.

Yesterday’s session was just an extension of Friday’s breather, in fact; we saw consolidation happening in a small range of merely 35 points, which is as good as ‘No Action Day’ for our market. However, similar to previous few days, strong activity was seen in selective individual counters, which we expect to continue in days to come. Hence, traders are advised to keep focusing on stock specific moves with a positive bias. As far as levels for Nifty is concerned, the immediate resistance is placed at 8306.85, which is likely to be surpassed quite soon. On the other hand, 8223 – 8180 are likely to provide decent support for the benchmark index.

Key Levels

Support 1 – 8223 Support 2 – 8180

Resistance 1 – 8280 Resistance 2 – 8307

Nifty Bank Outlook - (18287)

Yesterday, the Nifty Bank index opened with the upside gap of around 50 points and moved higher in initial trades. But, the upmove was short livened as we witnessed selling pressure at higher levels. Overall, the banking index traded in a narrow range and ended the session with marginal gains of 0.12% over its previous close.

Since, yesterday’s session was quite lackluster, our bullish stance on the Nifty Bank index remains intact. The momentum oscillator and other technical evidences are indicating the continuation in upmove in near term, which could lead the index higher upto 18600. Hence, we advise traders to hold on to the long positions created last week and trade with positive bias in the sector. The intraday supports for the Nifty Bank index are placed around 18150 and 18075 whereas resistances are seen around 18473 and 18600.

Key Levels

Support 1 – 18150 Support 2 – 18075

Resistance 1 – 18473 Resistance 2 – 18600

Comments

 The Nifty futures open interest has increased by 0.43% BankNifty futures open interest has decreased by 0.08% as market closed at 8236.05 levels.

 The Nifty January future closed with a premium of 13.85 points against the premium of 23.85 points in last trading session. The February series closed at a premium of 41.00 points.

 The Implied Volatility of at the money options has increased from 12.57% to 13.03%. At the same time, the PCR-OI of Nifty has remained unchanged at 1.11 levels.

 The total OI of the market is Rs. 2,47,100/- cr. and the stock futures OI is Rs. 72,050/- cr.

 Few of the liquid counters where we have seen high cost of carry are IDFC, IFCI, TV18BRDCST, GRANULES and ICIL.

Views

 Yesterday, FIIs were net seller in both cash and index futures segment. They sold equities to the tune of Rs. 325 crores. While, in index futures, they sold worth Rs. 173 crores with fall in open interest, indicating long unwinding in previous session.

 In Index options segment, FIIs bought worth Rs. 572 crores with marginal rise in open interest. In both call and put options, except for some build-up in 8400 call and 8000 put; we hardly witnessed any meaningful activity in other strikes. Highest OI in current series is placed at 8400 call and 8000 put option.

 Despite the marginal selling in yesterday's session, we continue to maintain our bullish stance on index as longs formed in last week are still intact. At current juncture, we advise traders to hold their long positions and trade with positive bias as we may see the Nifty moving towards 8400 level in upcoming sessions.

Engineers India Wins Project Worth Over Rs 2,500 Cr from HPCL For Vizag Refinery... Positive for EIL.

Tamil Nadu state joins UDAY scheme - Positive for companies like NTPC, Tata Power, Adani Power, Reliance Power , PTC India among others.

Bank of Baroda cuts home loan rates by 70 bps to 8.35%.

Bank of India cuts home loan rates by 55 bps to 8.70%.