{LONGTERMINVESTORS} Fwd: Edelweiss Market Next - Nifty Nears Fresh 52 Week High, GST Passed

---------- Forwarded message ----------
From: Market Next <marketnext@edelweiss.in>
Date: Fri, Aug 5, 2016 at 5:44 PM
Subject: Edelweiss Market Next - Nifty Nears Fresh 52 Week High, GST Passed
To: stockdesai@gmail.com

August 05, 2016 Quick Links: Visit Website

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 benchmark indices closed flattish during the week. Nifty and Sensex marginally up this week by 0.52% and 0.06% respectively. In terms of sectors Metals, Automobiles and Cement were the winners of the week. Engineering, Finance and Media sectors were the notable losers this week. Government extends MIP on 66 steel products: The government extended the minimum import price (MIP) on 66 steel products for a period of two months as against 173 items earlier. The MIP ranges between USD 341 - 752 per tonne "MIP for 66 (steel products) is extended till October 4 this year," Director General of Foreign Trade Anup Wadhawan said in a notification. The steel industry had been demanding for the extension of the MIP. When asked why the government has reduced the number of products, an official said, "We felt that only these 66 products require protection. The commerce ministry is already investigating dumping of certain steel products." The 66 products include semi-finished products of iron or non-alloyed steel, flat-rolled products of different widths, bars and rods. Read More... FII and DII Flows Prominent Bond Yields INR Yields Domestic Quick Bites International Quick Bites Top 5 Gainers Top 5 Losers Technical Outlook The volatile week finally settles at 52-week highest closing at 8,683 gaining 0.5%. Nifty manages to hold previous week low for seven consecutive weeks. The four years trendline resistance is visible at 8,720-8,730 zone; above which the fresh bullish momentum would be triggered. Index is trading above its short to medium term moving averages. RSI is trending bullish suggesting more upside. The technical as well as derivative structure indicates 8,500 to be strong support as 8500PE holds highest OI. We maintain 'Bullish' trend for medium term. The support for the weeks are 8,610-8,500 and resistance at 8,730-8,890. Click here to read more

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.