| |
Visit Edelweiss.in every day!
A smarter place to make research-backed investments | | |
 | | In This Issue: | | • Market View | • Sectoral Outlook | • Technical Outlook | | | Market View | - Indian market ended in the green during the week. Nifty and Sensex up this week by 1.14% and 0.92% respectively.
- In terms of sectors Media, Paints and Construction were the winners of the week. Metals, Energy and Engineering sectors were the notable losers this week.
- Government mulls curbs on sugar sales at mill level to check prices: Government is mulling imposing stock limit for sugar millers and restricting domestic sales by fixing quota on each mill to tame sweetener's retail prices, which are currently ruling as high as Rs 43 per kg. Food Secretary Vrinda Sarup reviewed the price situation here in a video conference interaction with both sugar producing and consuming states. "The sugar price was discussed. Prices are rising because of tight supply situation created mostly by holding of stocks by millers. We are looking at imposing stock limits on millers too and reintroduce monthly release mechanism," a senior Food Ministry official told PTI after the meeting.
| | | Technical Outlook | - Indian markets outperformed hitting fresh 2016 high of 8,674 and extended its bullish run for straight fifth month as July expiry gains 4.6% (E-o-E) to settle at 8,666. The global markets post Brexit has seen a strong upsurge while good monsoon and positive prospects of GST bill passage in the ongoing monsoon session of Parliament has kept Indian markets in sweet spot amongst Emerging Markets basket. Foreign Institutional Investors have pumped Rs.101.36bn in the secondary market in July alone suggesting a well placed economic markets. The OI (Open Interest) base on Nifty to start August series has risen to 23.4mln shares against 19.6mln shares in July series whereas overall Nifty OI is at 6 years high of 3.71cr. Market wide OI are highest since the start of April 2015 expiry.
- Nifty hit fresh 2016 high of 8,674; ends week at 8,638 gaining 1.1%.
- Indian markets gain for straight five expiry; July ends at 8,666 gaining 4.6% (E-o-E).
- Index is trading above the short to medium term moving averages.
- Open Interest on Nifty is at 6 years high, last in October 2010.
- Oscillators are trending bullish suggesting more upside.
- We maintain medium term target of 8,900 on Nifty.
- The support for the week are 8,560-8,490 and resistance at 8,741-8,823.
| | | |  | |
| Submission of FATCA and CRS is mandatory and needs to be completed before 31st July, 2016. Please get in touch with your Relationship Manager/ Equity Advisor for further details. If you have already submitted the FATCA form please ignore this note. Broking and DP services offered by Edelweiss Broking Limited under SEBI Registration No.: INZ000005231 (Member of NSE, BSE and MSEI) and IN-DP-NSDL-314-2009 (DP with NSDL). Research services offered by Edelweiss Broking Ltd. under SEBI Registration No. INH000000172. Investor grievance resolution team: 040-40316936. Name of the Compliance Officer for Trading - Mr. Dhirendra Rautela, Email ID: complianceofficer.ebl@edelweissfin.com ; Name of the Compliance Officer for DP - Mr. Dhirendra Rautela, Email ID : ebl.dpcompliance@edelweissfin.com. Corporate Office: Edelweiss House, Off CST Road, Kalina, Mumbai - 400098; Tel. (022) 40094400 / 40885757 / 4088 6278. Disclosure | Disclaimer | | |
--
CA. Rajesh Desai
--
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to
longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at
https://groups.google.com/group/longterminvestorsresearch.
For more options, visit
https://groups.google.com/d/optout.
July 29, 2016
No comments:
Post a Comment