Nifty ends below 10,000, down 1% amid trade war fears, Sensex slips 410 pts

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9:01 AM

Today's picks: From Hindalco to Lupin, hot stocks to watch on Friday

HIndalco Current price: Rs 216 Target price: Rs 220 Keep a stop at Rs 214 and go long. Add to the position between Rs 218 and Rs 219. Book profits at Rs 220.
 

Lupin Current price: Rs 757 Target price: Rs 745 Keep a stop at Rs 765 and go short. Add to the position between Rs 747 and Rs 750. Book profits at Rs 745. READ MORE

8:58 AM

Commodity outlook and top trading ideas by Tradebulls for today

US Dollar index is trading at 2 week low after Fed’s first rate hike in 2018. The disappointment in currency was because the dot-plot suggests only three rate hikes for this year, against the four anticipated. Also, the economic outlook of US for this year was left unchanged. Now for any reversal in US Dollar, the dollar index needs to trade above 91. We expect the dollar index to trade in the range of 88.40-90.50. The overall trend still remains negative.
 

US Fed indicated that it would stay the course this year of 3 rate hike which is expected positive for bullions and as expected, we saw a spike in prices of Gold and Silver. READ MORE

8:53 AM

Top technical calls from MOSL: Buy IndusInd Bank

INDUSIND BANK

Reco: BUY

Last Close: 1753

Stop Loss : 1716

Target : 1820

Holding the gains even after the market decline. Making higher top – higher bottom on weekly scale. Trading above all the major moving averages. READ MORE

8:47 AM

Top trading calls by Prabhudas Lilladher

BUY HDFC BANK

CMP : Rs 1,867.75

TARGET : Rs 1,980

STOP LOSS : Rs 1,820
 

The stock has maintained a strong base at around Rs 1,825 levels from where it has made revival on more than one occasions and currently it has indicated a good positive bias moving above the significant moving average of 34 WMA and we anticipate a further rise from here on to scale above the previous peak of Rs 1,920 levels.

 

With the RSI indicating a trend reversal signaling a buy and also the MACD which is on the rise, we recommend a buy in this stock for an upside target of Rs 1,980 keeping a stop loss of Rs 1,820. READ MORE

8:44 AM

Markets on Thursday

 

S&P BSE Sensex	33,006.27		-0.39%
Nifty 50	10,114.75		-0.40%
S&P BSE 200	4,422.86		-0.47%
Nifty 500	8,904.00		-0.50%
S&P BSE Mid-Cap	15,910.68		-0.75%
S&P BSE Small-Cap	17,064.12		-1.05%

8:42 AM

Donald Trump orders $50-bn hit on China goods amid trade war fears

President Donald Trump took his boldest step to level the economic playing field with China, ordering sweeping tariffs on Chinese goods in a move that could escalate already tense trade relations between the world’s two biggest economies.
 

The president instructed US Trade Representative Robert Lighthizer to levy tariffs on at least $50 billion in Chinese imports. Trump signed an executive memo issuing the instructions on Thursday at the White House. Within 15 days, USTR will come up with a proposed list of products that will face higher tariffs. READ MORE

8:38 AM

SGX Nifty

The SGX NIfty was at 9,996, down 1.22% from the previous close.

8:37 AM

Asian Markets

Stock markets slid and perceived havens such as government bonds and the yen gained on Friday as investors rushed to safety after US President Donald Trump announced long-promised tariffs on Chinese goods, stoking fears of a global trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan tracked a large overnight drop in Wall Street shares and fell 2.4 per cent, while Japan's Nikkei dropped 3.2 per cent and South Korea's KOSPI retreated 2.3 per cent.

Hong Kong's Hang Seng was down 3.6 per cent and Shanghai lost 2.8 per cent.

8:35 AM

Wall Street

On Wall Street, the Dow shed 2.9 per cent, the S&P 500 dropped 2.5 per cent and the Nasdaq fell 2.4 per cent on Thursday.

8:32 AM

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