MARKETS ON WEDNESDAY: Indices end flat; IT, metal stocks among top losers

Benchmark indices ended flat Wednesday after a choppy session dragged by losses in the metal and IT indices.

8:49 AM

COMMENT Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies

 

The world is changing fast with rapid evolution and shifts in geo-political, social and business landscapes, making it imperative for responsible leaders like HCL to be at the forefront of innovation, technology, solutions and people readiness. 

 

We continue to make strategic investments for readiness, in face of these imminent shifts. With the commitment to give back to the society, we continue to build sustainable and scalable models of positive social impact

Shiv Nadar

8:47 AM

Derivative Strategy on SBI by Motilal Oswal Securities

SBIN : BULL CALL SPREAD

VIEW : POSITIVE TO RANGE BOUND
BUY 1 LOT OF 245 CALL

SELL 1 LOT OF 260 CALL

 

NET PREMIUM PAID : 5 POINTS

 

KEEP SPREAD STOP LOSS OF : 2.50 POINTS (Risk of Rs. 7,500/-)

 

KEEP SPREAD TARGET OF : 10 POINTS (Reward of Rs. 15,000/-)

 

RATIONALE :

 

Double bottom pattern with a Hammer candle on weekly scale

 

Positive divergence on Price and Oscillators, turning from deep oversold territory

 

Call unwinding and fresh Put writing at 240, 245 and 250 strikes

 

Expecting a short term bottom led by short covering, thus suggesting Bull Call Spread to play the bounce

8:47 AM

NEWS ALERT FY’19 expected Operating Margin (EBIT) range is from 19.5% to 20.5%: HCL Tech

8:45 AM

NEWS ALERT To pay an interim dividend of Rs 2 per share: HCL Tech

8:44 AM

NEWS ALERT FY19 revenue growth at 9.5 - 11.5% in constant currency: HCL Tech

8:44 AM

NEWS ALERT HCL Tech Q4 net at Rs 22.28 billion vs Rs 24.73 billion y-o-y

8:44 AM

Nifty outlook and top stock picks from Motilal Oswal Securities

Nifty index continued its positive momentum and headed towards 10759 levels. It has formed a Bullish Candle on the daily chart which indicates that bulls are holding the tight grip on the market. It is forming higher highs – higher lows on daily scale from last three trading sessions which indicates that supports are gradually shifting higher. Now it has to continue to hold above 10680 zones to extend its move towards 10800 then 10830 zones while on the decline supports are seen at 10638 then 10580 levels. READ MORE

8:41 AM

Today's picks: From Bharti Infratel to TCS hot stocks to watch on Wednesday

Bharti Infratel

Current price: Rs 313

Target price: Rs 307

 

Keep a stop at Rs 317 and go short. Add to the position between Rs 308 and Rs 309. Book profits at Rs 307. READ MORE

8:37 AM

Top trading ideas from Prabhudas Lilladher: Buy Jet Airways, Siemens

BUY JET AIRWAYS 

CMP: Rs 643.25 

TARGET: Rs 700 

STOP LOSS: Rs 610

 

The stock has been in consolidation for quite some time at around 615 levels and currently has indicated a bullish candle pattern in the daily chart to signify strength and potential to rise further from here on to scale upto 690-700 levels. The RSI has shown a trend reversal and has indicated a positive bias in the current scenario. With good volume participation visible, we recommend a buy in this stock for an upside target of 700 keeping a stop loss of 610. READ MORE

8:34 AM

Markets on Monday

 

S&P BSE Sensex	35,160.36		0.55%
Nifty 50	10,739.35		0.44%
S&P BSE 200	4,723.51		0.55%
Nifty 500	9,496.50		0.56%
S&P BSE Mid-Cap	17,012.03		0.56%
S&P BSE Small-Cap	18,401.67		0.89%

8:32 AM

SGX Nifty

The SGX Nifty was at 10,751, down 0.10 per cent from the previous close.

8:31 AM

Asian Markets

Asian equities held steady on Wednesday, while the dollar traded near a four-month high as investors await the Federal Reserve’s upcoming policy statement for clues on the future pace of US monetary tightening.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, while Japan’s Nikkei eased 0.2 per cent and South Korea’s KOSPI slipped 0.3 per cent.

8:30 AM

Wall Street

On Wall Street, the S&P 500 edged higher on Tuesday after comments from a Trump administration official on trade with China and the Mexican economy minister on the renegotiation of the North American Free Trade Agreement provided cause for optimism.

 

The Dow Jones Industrial Average fell 64.1 points (0.27 per cent) to 24,099.05, the S&P 500 gained 6.75 points (0.25 per cent) to 2,654.8 and the Nasdaq Composite added 64.44 points (0.91 per cent) to 7,130.70.

8:26 AM

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