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Share Market Tips-Indian ADRs: Tata Motors up 3.4%, HDFC Bank gains

Indian ADRs ended mostly higher on Monday. Dr Reddy’s Laboratories added 1.43 percent and HDFC Bank gained 0.74 percent.

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Share Market Tips-Indian ADRs: Tata Motors up 3.4%, HDFC Bank gains

Indian ADRs ended mostly higher on Monday. In the banking space, ICICI Bank was up 0.30 percent at USD 10.06 and HDFC Bank gained 0.74 percent at USD 100.08.

In the IT space, Infosys was down 1.56 percent at USD 17.68 and Wipro shed 1.45 percent at USD 5.45.

In the other sectors, Tata Motors gained 3.39 percent at USD 28.98 and Dr Reddy’s Laboratories added 1.43 percent at USD 34.07.

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Free Stock Tips -Indian rupee opens lower at 64.81 per dollar

I expect the USD-INR pair to start consolidating in an intraday range of 64.70-64.90 today, says Bhaskar Panda of HDFC Bank.

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Free Stock Tips -Indian rupee opens lower at 64.81 per dollar

The Indian rupee opened marginally lower at 64.81 per dollar on Tuesday against previous close 64.79.

Bhaskar Panda of HDFC Bank said, “The dollar index has steadied above 89.50 levels ahead of the new Fed chief’s first congressional testimony. Stocks and currencies across Asia Ex-Japan also did well against the US Dollar.”

“Given this background, I expect the USD-INR pair to start consolidating in an intraday range of 64.70-64.90 today.”

“The 10-year benchmark bond yield has retraced a bit after touching a recent high of 7.75 percent. I expect a range between 7.65-7.70 percent for today.”

The dollar inched higher in choppy trade ahead of a slew of US Economic data this week, including Federal Reserve chairman Jerome Powell’s testimony, which could determine whether the greenback’s recovery from a three-year low can be sustained.

The dollar has recovered nearly 1 percent in February after losses of more than 3 percent in January.

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Gold prices rise after worst week in 2-1/2 months

Gold prices edged up on early Monday, after declining more than 1 percent last week, as the U.S. dollar steadied following recent gains.

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FUNDAMENTALS

* Spot gold rose 0.1 percent at $1,330.59 an ounce at 0118 GMT. Prices fell 1.4 percent for the week ended Feb. 23, the biggest decline in 2-1/2 months.* U.S. gold futures were up 0.1 percent at $1,332.3 per ounce.

* The dollar index, which measures the greenback against a basket of currencies, was flat at 89.881.

* Rising U.S. Treasury yields, a view that the dollar’s selloff had been overdone, and minutes from the Fed’s January rate-setting meeting that offered a relatively upbeat tone helped the dollar index gain 0.9 percent last week.

* Asian markets were in a guardedly upbeat mood, heading into an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve.

* The U.S. Federal Reserve, looking past a recent stock market sell-off and concern about inflation, said on Friday that it sees steady growth continuing and no serious risks on the horizon that might pause its planned pace of rate hikes.

* The Bank of England might need to raise British interest rates somewhat sooner than Deputy Governor Dave Ramsden had expected if wage growth picks up early this year, according to a newspaper interview released on Saturday.

* Hedge funds and money managers raised their net long positions in COMEX gold and copper contracts in the week to Feb. 20, U.S. Commodity Futures Trading Commission data showed on Friday.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.18 percent to 829.26 tonnes on Friday from 827.79 tonnes on Thursday.

* Newcrest Mining Ltd said on Monday it had invested $250 million to buy a 27.1 percent stake in Canadian miner Lundin Gold Inc as the gold major ramps up its exposure to Ecuador to secure growth.

* South Africa’s National Union of Mineworkers (NUM) on Sunday said that Pan African Resources would cut 1,722 jobs at its Evander Gold Mine in the country’s Mpumalanga province.

* High local prices hit physical gold demand in India this week while activity in most other Asian centers remained subdued due to the Lunar New Year holiday.

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Commodity Tips-Cardamom futures dip on subdued demand

Commodity Tips-Cardamom futures dip on subdued demand

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Cardamom futures were trading lower during the morning trade in the domestic market on Monday as speculators booked profits at prevailing levels amid easing demand in the spot market. Analysts said besides profit-booking by participants at the existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom futures for March 2018 contract was trading at Rs 1122 per kg, down by 0.78 per cent, after opening at Rs 1130, against a previous close of Rs 1130.80. It touched the intra-day low of Rs 1120

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Commodity Tips- Mentha oil futures rise on surging demand

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Mentha oil futures were trading higher during the morning trade in the domestic market on Monday amid a pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following a pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

At the MCX, mentha oil futures for February 2018 contract was trading at Rs 1307.60 per kg, up by 1.89 per cent, after opening at Rs 1302, against the previous closing price of Rs 1283.30. It touched the intra-day high of Rs 1314.70.

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Free Stock Cash Tips-Sensex up over 250 pts, Nifty eyes 10,600; metals spike

IndusInd Bank and Tata Motors are the top gainers, while Dr Reddy’s and Sun Pharma were the top losers.

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Free Stock Cash Tips-Sensex up over 250 pts, Nifty eyes 10,600; metals spike

“Kalyan Jewellers is looking to file papers for an Initial Public Offering (IPO) next month, according to a Mint report citing sources.

The Kerala-based company is considering raising around Rs 2,500 crore from the issue, a source told Mint.

“The IPO is a mix of a primary fundraiser that the company will use to fund the expansion of its domestic and new overseas markets and a secondary share sale, primarily by private equity investor Warburg Pincus, which will be selling part of its stake in the company”, the source added.

Shares are trading strongly on Monday, with the Nifty eyeing 10,600-mark.

The Sensex is up 271.23 points or 0.79% at 34413.38, while the Nifty is up 81.50 points or 0.78% at 10572.50. The market breadth is negative as 1572 shares have advanced, against a decline of 740 shares declined, while 197 shares are unchanged.

IndusInd Bank and Tata Motors are the top gainers, while Dr Reddy’s and Sun Pharma were the top losers.

Shares of A2Z Infra Engineering gained 4.3 percent intraday Monday as the company has entered into a one-time settlement with Standard Chartered Bank.

The company approved one-time settlement (OTS) with Standard Chartered Bank towards debt settlement of Rs 344.93 crore, for a total consideration of Rs 120 crore.

It has also approved the allotment of shares to Standard Chartered Bank.

The market is likely to consolidate in a narrow range of 10,350-10,600 but there is one sector which is likely to remain in limelight which is the ‘metal’ sector, Gautam Shah, Associate Director & Technical Analyst at JM Financial said in an interview with CNBC-TV18.

“In the last 1-1/2 years, the metal index has exceeding well. It is trading around 15,300-15,400 on the BSE and our near-term target for the index is close to 17,000 but for 2018 our target is about 21,000 which translates into an upside of 20-25 percent over the next 9-12 months,” he said.

The way metal stocks have handled themselves in the last 2-weeks that is quite commendable. It is a place in which investors should allocate 20-30 percent of your portfolio, added Shah.

Commenting on the global markets, Shah is of the view that US markets have made a multi-month top for the US market. If that is the case, Indian markets will be impacted.

Pharmaceutical names have witnessed a weak 2018 so far, with the sectoral index down around 5 percent so far. On Monday too, led by cuts in heavyweight names such as Dr Reddy’s and Sun Pharmaceuticals, pharma indices were trading lower. Here is a list of other such scrips in focus.

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Trade with a stop loss below 10350; top 3 stocks which could give up to 12% return

“With current level rebounding above a crucial 100-days level placed at 10410, the index formed a strong bullish candlestick pattern on its daily price chart although a weekly chart has yet to confirm the trend.

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Trade with a stop loss below 10350; top 3 stocks which could give up to 12% return

“The Indian equity market made a decent comeback towards a weekend session after closing on negative regime ahead of current month’s F&O expiry and slipover of banking fraud.

On Friday’s trade, Nifty index surpassed a crucial support level placed at 10300 and decisively managed to close above its 100-days EMA level.

Although it witnessed a selling pressure on an intraday basis to slip at 10396 level, the sentiment continued on positive cues as it recoups losses and closed at 10491 level with 1.04 percent upside. Thus it signaled a bullish sentiment in the market after series of bearish drought.

With current level rebounding above a crucial 100-days level placed at 10410, the index formed a strong bullish candlestick pattern on its daily price chart although a weekly chart has yet to confirm the trend.

Further, the secondary momentum indicated an upward move with RSI moving at 54 levels from previous low. Based on a Fibonacci retracement, the resistance is currently placed at 10623 followed by 10752 and important support level is placed at 10330.

A breakout from important moving average level will certainly enable index to attempt to breach 10600 levels on a short-term basis and it will be advisable to trade with a strict stop-loss regime for the long position below 10350 on a closing basis.

The selloff from foreign counterpart still evokes a concern, and thus we maintain a weekly rangebound trade at 10370 levels on the downside and 10710 levels on the upside.

Here is a list of top three stocks which could give up to 12% return in the short term:

Engineers India Ltd: BUY| Target Rs191 | Stop-loss Rs160 | Return 12%

Engineers India Ltd (EIL) witnessed a healthy consolidation from Rs198 levels towards Rs159 levels before proceeding to its current uptrend regime.

The scrip made an important breakout from 200-day EMA last week despite trading in the sideways direction and signaled a positive upward trend.

Further, it managed to accumulate a support for volume growth across the price movement.

The scrip formed a solid bullish candlestick pattern on its weekly price chart coupled with bullish crossover just happening at current level on its MACD.

Thus, a rebound at the current level is expected to create next lag of uptrend towards its 52-weeks high in the medium term.

The support level for scrip is currently placed at 154 and resistance level is seen at 199. We have a BUY recommendation for Engineers India which is currently trading at Rs. 170.80

Apex Frozen Foods Ltd: BUY| Target Rs. 744 | Stop-loss Rs680| Return 5%

Despite continuing on uptrend trajectory on its long-term price chart, Apex Frozen Foods witnessed a consolidation over a two weeks period. The scrip took a major support at 640-630 level and gradually managed to rebound on bullish momentum.

The scrip ended the session with about 10 percent upside on intraday basis indicating a reversal trend. On the daily price chart, the scrip made a bullish reversal pattern after making a bearish trend for the consecutive session and thus indicated a positive sentiment for the forward session.

Further, the RSI at 64 levels has given a favorable price regime to enter coupled with positive cues on MACD.

With price trading above its 20-day EMA (660), the scrip is now facing a resistance at 791 levels and support level at 670. We have a BUY recommendation for Apex Frozen Foods which is currently trading at Rs. 708

IIFL Ltd: SELL | Target Rs. 702 | Stop-loss: – Rs. 750 |Upside: – 5%

IIFL continued to consolidate on its daily price movement although it attempted to breach upward and witnessed a sustained free fall to trade at a lower level.

The scrip made a breakout below its 20-day EMA level indicating a further decline in price and continued to shred about 5 percent on weekly basis.

On the weekly price chart, it formed a strong bearish candlestick pattern which is expected to keep the stock under pressure without any major breakout in short-term.

Further, the secondary momentum indicator suggested a current level placed at its lower support band which is a negative signal.

The Signal Line and MACD continued to indicate weak support for the scrip. The stock is facing a resistance at 754 levels and support at 693 levels which will remain crucial for scrip. We have a SELL recommendation for IIFL which is currently trading at Rs. 735.75

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Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

Sensex extends gains to over 200 points, Nifty around 10,550; auto surges

Dr Reddy’s Labs and Sun Pharma are the top losers on both indices, while gains are seen in auto stocks such as Bajaj Auto and Tata Motors.

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Sensex extends gains to over 200 points, “Nifty around 10,550; auto surges

Pharmaceutical names have witnessed a weak 2018 so far, with the sectoral index down around 5 percent so far. On Monday too, led by cuts in heavyweight names such as Dr Reddy’s and Sun Pharmaceuticals, pharma indices were trading lower. Here is a list of other such scrips in focus.

Market debutant Aster DM Healthcare listed at a discount of around 4 percent on the exchanges on Monday.

The stock listed at Rs 183 on the National Stock Exchange against the upper band of its issue price of Rs 190.

The healthcare services provider’s issue was oversubscribed 1.3 times on the last day, as per data available on the NSE website.

The market has extended its gains from opening tick and is witnessing an up move of over half a percent.

The Sensex is up 185.56 points or 0.54% at 34327.71, while the Nifty is up 56.00 points or 0.53% at 10547.00. The market breadth is positive as 1432 shares have advanced, against a decline of 537 shares, while 158 shares are unchanged.

Dr Reddy’s Labs and Sun Pharma are the top losers on both indices, while gains are seen in auto stocks such as Bajaj Auto and Tata Motors.

The share price of Sterlite Technologies added more than 10 percent in the early trade on Monday on the back of order win worth Rs 3500 crore.

The company has been awarded Rs 3500 crore advance purchase order to design, build and manage the Indian Navy’s communications network.

This will give the Indian Navy digital defense supremacy at par with the best naval forces globally.

Shares of Oriental Bank of Commerce and Simbhaoli Sugars lost 9-20 percent intraday on Monday as investors turned cautious post developments of a likely fraud involving the sugar firm.

The Central Bureau of Investigation (CBI) said on Sunday it had filed a fraud case against executives of Simbhaoli Sugar for causing alleged losses of Rs 1.09 billion to state-run Oriental Bank of Commerce, reports Reuters. The bank alleged that the sugar refiner “dishonestly and fraudulently diverted”an Rs 1.48-billion-loan sanctioned in 2011 for financing cane farmers for private use, a statement issued by CBI said.

This is the second case in three days registered by the CBI upon complaints from the Oriental Bank of Commerce. The police has registered a case against several top officials of Simbhaoli Sugar, including its chairman and managing director, chief executive and chief financial officer, some unknown bank officials, and other private persons

Shares of Dr Reddy’s Laboratories slipped 4 percent in early trade on Monday after the USFDA maintained OAI status for the company’s Srikakulam plant.

The company received the establishment inspection report (EIR) from the US Food and Drug Administration for its API manufacturing plant in Srikakulam, Andhra Pradesh.

“FDA has asked us for more details. We are providing those details and continuing to engage with FDA for resolution of pending issues,” the company said in press release.

Equity benchmarks began the week on a positive note, tracking positive global cues.

The Sensex is up 109.15 points or 0.32% at 34251.30, while the Nifty is up 33.30 points or 0.32% at 10524.30. The market breadth is positive as 510 shares advanced, against a decline of 123 shares, while 102 shares are unchanged.

Nifty Pharma is likely to be witnessing some profit booking after days of up move last week. All other sectoral indices are trading in the green, with financials and auto leading the pack.

Dr Reddy’s and Sun Pharma are the top losers on both indices, while Tata Steel, Adani Ports, and Vedanta have gained the most.

The Indian rupee opened higher by 8 paise at 64.65 per dollar on Monday versus 64.73 Friday.

Pramit Brahmbhatt of Veracity said, “The rupee will see the marginal positive impact in today’s session on the back of positive cues from the domestic equity market.”

“We expect the USD-INR pair to trade in a range of 64.50-65,” he added.

Asian markets rose early on Monday, tracking gains seen on Wall Street as US bond yields receded from recent four-year highs in the last session.

Japan’s Nikkei 225 soared 292.69 points, or 1.34 percent, with technology stocks, financials, and automakers higher on the day. Among index heavyweights, SoftBank Group jumped 1.79 percent and Fast Retailing rose 1.34 percent.

Elsewhere, South Korea’s benchmark Kospi added 0.42 percent while the junior Kosdaq saw more significant gains, climbing 1.05 percent in early trade.

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Free Stock Tips-Indian rupee opens higher 8 paise at 64.65 per dollar

We expect the USD-INR pair to trade in a range of 64.50-65, says Pramit Brahmbhatt of Veracity.

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Free Stock Tips-Indian rupee opens higher 8 paise at 64.65 per dollar

The Indian rupee opened higher by 8 paise at 64.65 per dollar on Monday versus 64.73 Friday.

Pramit Brahmbhatt of Veracity said, “The rupee will see the marginal positive impact in today’s session on the back of positive cues from the domestic equity market.”

“We expect the USD-INR pair to trade in a range of 64.50-65,” he added.

The dollar gained against a basket of major currencies on Friday, extending its recovery from a three-year low, as the potential for a more aggressive US Federal Reserve prompted investors to pare bearish bets against the greenback.

Ajay Manglunia of Edelweiss said, “US treasury yields have eased after the spike to 2.95 percent and this will provide some comfort to domestic bonds too. There are no major local triggers and bonds are expected to track any sharp moves in US yields, crude prices or the rupee.”

“The 10-year benchmark bond yield is likely to trade in a range of 7.64-7.69 percent today,” he added.

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Sensex rises over 100 points, Nifty above 10400, pharma stocks trade higher

BSE Sensex rises over 100 points, while the Nifty 50 trades above 10,400. Here are the latest updates from the markets

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Sensex rises over 100 points, Nifty above 10400, pharma stocks trade higher

The benchmark BSE Sensex rose over 100 points in the early session on Friday as the March derivatives series kicked off on a strong note amid positive Asian cues. All BSE sectoral indices were in the green, led by healthcare, bank, metal and realty stocks. The NSE Nifty50 also rose past 10,400 level. Both the indices closed marginally lower in the last session. Brokers said investors were creating fresh positions at the start of March futures and options (F&O) series, that led to a recovery in the market. A firm trend in Asian markets on positive cues from Wall Street pushed buying activity in bourses here, they added. (PTI) Here are the latest updates from the markets:

Market updateBSE Sensex traded higher by 96.17 points, or 0.28%, to 33,915.67, while the Nifty 50 rose 33.05 points, or 0.32%, to 10,415.75. Meanwhile, BSE MidCap and SmallCap rose 1%. All the sectoral indices on BSE, except capital goods, traded higher led by metal, which rose 2.20%, healthcare 1.85%, and basic materials 1.56%.


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Bank of Baroda shares rise after it denies any exposure to PNB

Bank of Baroda shares gained 1.5% to Rs145.30 after the bank clarified to the exchanges that it has no exposure to LoUs issued by PNB in the alleged fraud case involving Nirav Modi.


Federal Bank shares up 3%

Federal Bank Ltd shares rose 3.5% to Rs93.05 after the bank said in a notice to BSE that its board approved acquiring 26% stake in Equirus Capital.

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