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Free Stock Tips-Nifty likely to open gap down by 11 points

Nifty Future is opening gap down by 11 points against yesterday’s close of 10375 as indicated by SGX Nifty which is currently trading at 10394,

Market Outlook:

The Indian Benchmark Index Nifty continues selling for the 2nd straight day amid loan fraud cases in PSU banks. The index opened higher but could not sustain at highs and consolidated in the negative zone. However, the markets gave a sharp recovery in the final hour of the trade.

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Free Stock Tips-Nifty likely to open gap down by 11 points

The markets are trading highly volatile due to loan fraud cases in the PSU banks and FNO expiry due on Thursday. The index opened at 10489 and closed at 10378 after making a low of 10303. Nifty slumped by 74 points or 0.71% from its previous close.

FII & PRO in combined has sold 111737 contracts in Index options in last 10 days. In the current expiry, they have a combined sell position of 498379 contracts. The next important support level of Nifty is 10276, which is its Week 1 low.

The Small Cap Index has fallen by 119 points or 1.42% from its previous close. The Index made a high of8375 and closed at 8238 after making a low of 8145. The next Weekly support of Small Cap is 7777.

Nifty Future is opening gap down by 11 points against yesterday’s close of 10375 as indicated by SGX Nifty which is currently trading at 10394.

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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.

Commodity Market Tips-Gold prices inch up on weaker dollar

Gold prices edged up on Monday on a softer U.S. dollar and as investors bought the yellow metal as a hedge against inflation.

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Commodity Market Tips-Gold prices inch up on weaker dollar

 

FUNDAMENTALS

* Spot gold rose 0.2 percent to $1,350.51 an ounce at 0120 GMT. It hit a three-week high oft $1,361.76 on Friday.

* The metal rose 2.4 percent last week, its best weekly gain since the week ended Sept. 1.

* U.S. gold futures slipped 0.2 percent to $1,353.10 per ounce.

* The dollar index, which measures the greenback against a basket of currencies, fell 0.1 percent to 88.999.

* The U.S. currency has been weighed down by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage as other countries start to scale back easy monetary policy.,/p>

* Hedge funds and money managers cut their net long positions in COMEX gold and copper contracts in the week to Feb. 13, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.

* Asian shares ticked up on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs.

* On Wall Street, the S&P 500 rose marginally on Friday to mark its biggest weekly increase in five years, although earlier gains evaporated after a 37-page indictment filed by U.S. Special Counsel Robert Mueller charged 13 Russians and three Russian companies for meddling in the 2016 U.S. presidential election.

* Trading is expected to be slower than usual due to market holidays in the United States as well as Hong Kong and China.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.39 percent to 824.54 tonnes on Friday from 821.30 tonnes on Thursday.

* India’s federal police detained two employees of Punjab National Bank, the state-run lender that says it has been the victim of a $1.77 billion fraud, in the first arrests in a fast-widening probe into the country’s biggest-ever bank scam.

* Physical gold was sold at a discount in India last week for the first time in three weeks as demand for the metal slumped due to a jump in local rates, while the Lunar New Year holiday capped buying at the end of the week elsewhere in Asia.

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Sensex slips 200 pts; all sectoral indices in the red, PSU Bank dips 2%

Natco Pharma, Jet Airways, SpiceJet, InterGlobe Aviation, GVK Power, Jai Corp and KPR Mills gained 0.5-4 percent.

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Sensex slips 200 pts; all sectoral indices in the red, PSU Bank dips 2%

Natco Pharma shares rallied as much as 6.4 percent after the Mekaguda facility received zero observations from the US health regulator.

“….announce the successful completion of regulatory inspection from the United States Food and Drug Administration (USFDA) for its active pharmaceutical ingredient (API) facility in Mekaguda Village, Hyderabad,” the pharma company said in its filing.

The inspection by USFDA was conducted during the period February 12-16, 2018.

“The regulatory audit resulted in zero observations (no form 483 issued),” Natco said.

Crude Oil Update: Oil prices extended gains to hit their highest level in nearly two weeks, buoyed as Asian shares joined a global recovery in equity markets and by worries over tensions in the Middle East.

Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, after border incidents in Syria brought the Middle East foes closer to direct confrontation.

US West Texas Intermediate crude for March delivery was up 86 cents, or 1.39 percent, at USD 62.54 a barrel, after earlier touching its highest since February 7.

London Brent crude was up 58 cents, or 0.89 percent, at USD 65.42, after rising more than 3 percent last week.

Market Update: Benchmark indices extended losses, with all sectoral indices trading in the red.

The 30-share BSE Sensex fell 203.24 points to 33,807.52 and the 50-share NSE Nifty declined 66.80 points to 10,385.50.

About three shares declined for every share rising on the BSE.

PSU Bank index was the biggest loser, falling 2 percent.

PNB fraud case: India’s state-run UCO Bank said it has USD 411.82 million in exposure to fraudulent transactions carried out at Punjab National Bank (PNB).

PNB, India’s second-largest state-run lender, said last Wednesday that it had detected fraudulent transactions worth USD 1.77 billion at a single Mumbai branch that had benefited “a few select account holders”, and that it had reported the matter to law enforcement agencies.

UCO Bank, in a filing to the Bombay Stock Exchange late on Saturday, said its Hong Kong branch granted loans against letters of credit issued by PNB and was “fully confident” of receiving payment from PNB.

The alleged fraud at PNB benefited billionaire jeweler, Nirav Modi and jewelry retailer Gitanjali.

9:48 am Order Win: The water & effluent treatment business of L&T Construction has secured EPC orders worth Rs 1,680 crore from Pune Municipal Corporation for ‘study, survey, investigation, assessment, design validation and revamping of the entire water supply system for Pune City.

“We are delighted to have bagged this very prestigious order which has the potential to be a game-changer in the realm of water infrastructure development,” said S Rajavel, Senior Vice President & Head – Water & Smart World Communication, L&T Construction.

The scope of the project includes supply, laying, testing and commissioning of water transmission pipelines, optical fiber cable ducts, construction of sumps & house service connections along with water audit, Non-Revenue Water Reduction, SCADA, bill reading & generation and other associated electromechanical & instrumentation works.

Buyback: KPR Mill scrip price gained nearly 6 percent ahead of a board meeting to consider share buyback this week.

“A meeting of the board of directors is scheduled to be held on February 22 to consider the proposal for buy-back of the fully paid-up equity shares,” the textile company said in its filing.

Buzzing: Shares of Bhushan Steel hit 20 percent upper circuit on Monday as investors cheered developments surrounding its takeover bid.

Tata Steel emerged as the highest bidder for Bhushan Steel with a surprise bid of Rs 35,000 crore. JSW Steel, which was the favorite until the end of the race, was second placed with a bid of Rs 29,700 crore. Tata Steel’s stock fell around 5 percent intraday.

A senior bank executive aware of the development confirmed the allotment to Tata Steel and the bid amount.

9:21 am Navi Mumbai Airport: The City Industrial Development Corporation (Cidco), the nodal agency of Maharashtra government implementing the Navi Mumbai International Airport has set a stiff deadline of December 2019 for developer GVK Power & Infrastructure (GVK) to operationalize the first phase of the project.

As part of the first phase – Cidco expects the developer GVK Power & Infrastructure (GVK) to make one runway and a terminal building operational with a capacity to handle 10 million passengers by end of next year.

“It’s achievable,” said Bhushan Gagrani, Vice Chairman and Managing Director of Cidco referring to the first phase deadline.

Gagrani said the company will be handing over the land to GVK in 6-8 months. “We took possession of 98 percent of the land,” said Gagrani.

9:15 am Market Check: The market started off the week on a negative note, with the Nifty and Nifty Bank trading well below its Friday’s low due to further correction in PSU banks.

The 30-share BSE Sensex was down 117.30 points at 33,893.46 and the 50-share NSE Nifty fell 45.10 points to 10,407.20.

PSU Bank index fell over 1 percent. UCO Bank, Union Bank of India, Allahabad Bank, PNB and City Union Bank declined 3-10 percent on PNB fraud case.

Natco Pharma, Jet Airways, SpiceJet, InterGlobe Aviation, GVK Power, Jai Corp and KPR Mills gained 0.5-4 percent.,/p>

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Buy, Sell, Hold: 4 stocks are on analysts’ radar on February 19, 2018

Adani Ports, Titan, among others are being tracked by investors on Monday.

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Buy, Sell, Hold: 4 stocks are on analysts’ radar on February 19, 2018

Adani Ports

Brokerage: CLSA | Rating: Buy | Target: Rs 505

CLSA said that fresh capex will not hurt our argument of the company tripling its dividend. Further, investments shall be self-financing if the company can seal JV deals in time.

Varun Beverages

Brokerage: CLSA | Rating: Buy | Target: Rs 885

CLSA said that off-season makes Q4 less relevant for the firm. It also said that Q4 contributes <5% of its full-year EBITDA. It also highlighted that the firm has been able to secure the rights to more territories. New Territories & products give the firm an opportunity to expand volume & market share.

HUL

Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 1,700

The global investment bank said that the firm expects Q3 volume growth of 11% to sustain. Further, it said that the company plans judicious price increase to counter inflationary pressure.

Titan

Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 970

The bank said that the firm is a big beneficiary of formalization in jewelry sector. Further, it said that it has a strategy to launch new collections every quarter.

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Free Stock Case Tips- Nifty likely to open gap up by 59 points

Nifty Future is opening gap up by 59 points against Friday’s close 10442 as indicated by SGX Nifty which is currently trading at 10501, says Dynamic Levels.

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Free Stock Case Tips- Nifty likely to open gap up by 59 points

The Indian Benchmark Index Nifty could not sustain above 10600 levels and has given a sharp fall of 179 points last day. The Index made a high of 10613 and closed at 10452 after making a low of 10434.

FII & PRO in combined has sold 582933 contracts in Index options in last 10 days. In the current expiry, they have a combined sell position of 457618 contracts. The next important support level of Nifty is 10276, which is its week-1 low.

 The Small Cap Index has fallen 397 points in last 3 trading sessions. The Index made a high of 8704 on February 14 and closed at 8357 last day after making a low of 8307. The next Weekly support of Small Cap is 7777.

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Nifty Future is opening gap up by 59 points against Friday’s close 10442 as indicated by SGX Nifty which is currently trading at 10501.

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.

 

Commodity Market Tips – Lead futures up on rising demand

Commodity Market Tips

Commodity Market Tips – Lead futures up on rising demand

Lead futures were trading higher during the afternoon trade in the domestic market on Friday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by an upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, lead futures for February 2018 contract is trading at Rs 168.20 per kg, up by 0.48 per cent, after opening at Rs 168, against a previous close of Rs 167.40. It touched the intra-day high of Rs 168.45.

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Commodity Market Tips-Mentha oil futures down on easing demand

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Commodity Market Tips-Mentha oil futures down on easing demand

Mentha oil futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.

At the MCX, mentha oil futures for February 2018 contract was trading at Rs 1335 per kg, down by 0.83 per cent, after opening at Rs 1328, against the previous closing price of Rs 1346.20. It touched the intra-day low of Rs 1319.90.

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Commodity Market Tips-Cardamom futures up on rising demand

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Commodity Market Tips-Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators extended their positions in the agri-commodity amid rising in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for March 2018 contract was trading at Rs 1155 per kg, up by 0.37 per cent, after opening at Rs 1157, against a previous close of Rs 1150.70. It touched the intra-day high of Rs 1157.

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Punjab National Bank slumps for third straight day; hits 52-week low

Shares of Punjab National Bank continued to reel under pressure for the third consecutive day after the detection of Rs 11,400 crore fraud, slipping over 3 percent in morning trade on bourses.

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Punjab National Bank slumps for third straight day; hits 52-week low

Shares of Punjab National Bank continued to reel under pressure for the third consecutive day after the detection of Rs 11,400 crore fraud, slipping over 3 percent in morning trade on bourses.

The stock hit its 52-week low on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today after it opened on a bearish note and fell 3.27 percent to Rs 124.15 on BSE. Similarly, on NSE, the stock dropped to a low of Rs 123.40. Meanwhile, shares of PNB Housing too slipped 1.36 percent to a low of Rs 1,182.60.

A fortnight after the scam was first reported, PNB Chairman and Managing Director Sunil Mehta yesterday said it has the capability to recover the dues from Modi and promised to take action against all wrongdoers.

As the Enforcement Directorate conducted multiple searches at establishments linked to Modi, seizing diamonds, jewelry and gold worth Rs 5,100 crore and sealing six properties, the Finance Ministry said recovery would be made and nobody would be spared.

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Sensex, Nifty off opening highs; IT stocks gain, PSU Bank index falls 1%

Punjab National Bank lost another 2 percent on top of 21 percent fall in previous two consecutive sessions. Gitanjali Gems tanked 19 percent on top of 20 percent correction in the previous session.

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Sensex, Nifty off opening highs; IT stocks gain, PSU Bank index falls 1%

 PNB fraud case Update: Union Bank of India clarified that it has nearly 17 percent exposure to the transaction fraud worth USD 1.8 billion (Rs 11,300 crore) detected by Punjab National Bank recently.

The bank said it through its foreign branches has been taking an exposure with Punjab National Bank as a counterparty under various letters of undertakings (LoU) issued through authenticated SWIFT message.

The bank has also purchased some buyers’ credit assets from Axis Bank through risk participation as a part of normal international business practice, it added.

“The outstanding exposure related to the incident is approximately USD 300 million and the bank is fully secured by LoU / LC / other documents,” Union Bank said.

The bank is fully confident to receive the payment, it added.

9:55 am Market Update: Benchmark indices continued to trade higher in morning, with the Sensex rising 134.45 points to 34,431.92 and the Nifty up 41.70 points at 10,587.20.

About 1,144 shares advanced against 838 declining shares on the BSE.

Technology stocks continued to support the market as TCS, Infosys and HCL Technologies gained 2 percent each.

L&T, ICICI Bank, Reliance Industries, HDFC Bank and ITC gained 0.3-0.6 percent whereas HDFC, SBI, Adani Ports, Axis Bank, HUL and Eicher Motors were under pressure.

9:45 am PC Jeweller comments after PNB fraud case: As its shares got hammered in the aftermath of India’s biggest bank fraud, PC Jeweller said the company does not use a letter of credit/letter of undertaking in business transactions and buys all diamonds from local markets on a cash basis only.

The BSE had sought clarifications from the company after its share prices slumped nearly 20 percent intraday to Rs 303 apiece in the previous session.

The share ended the day at Rs 356.40, down 5.31 percent. “The company does not use the instruments of LUT/LOC (Letter of Undertakings/ Letter of Credit) etc in its business transactions.

“The company does not have any international transactions in diamonds. It procures all its diamonds from local markets on a cash basis only,” PC Jeweller said in its regulatory filing.

It assured investors and shareholders that the fundamentals of the company remain strong and it continues to move ahead as per its laid down business plans.

9:35 am Buzzing: Share price of Indoco Remedies added 6.4 percent in the morning as it has received certification for its Goa plant.

The company received European GMP certification from Regulatory Authority of Hungary for its manufacturing facility for non-sterile products (Goa-plant III).

The EU GMP certification will enable the company to export medicinal products to all European countries. The granted GMP certification will also continue to support export of drug products to Canada, Australia, New Zealand and rest of the emerging territories as well, company said in a release.

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 Credit Suisse on Apollo Hospitals: Credit Suisse has upgraded the stock to Outperform from Neutral and raised target price to Rs 1,450 from Rs 1,075 per share.

Start-up losses at Navi Mumbai should reduce starting next quarter and stent pricing impact should moderate next year as company repriced insurance contracts, the researcher believes.

It feels EBITDA CAGR for FY18-20 should be strong at 20 percent versus 3 percent CAGR in past two years. FY18/19 EPS estimates cut 28/23 percent to factor in stent impact & higher AHLL losses.

9:15 am Market Check: Equity benchmarks extended previous day’s gains on last day of the week, with the Sensex, Nifty Bank, and Midcap indices rising around 150 points each, tracking positive global cues.

The 30-share BSE Sensex was up 149.65 points at 34,447.12 and the 50-share NSE Nifty rose 48.30 points to 10,593.80.

Punjab National Bank lost another 2 percent on top of 21 percent fall in previous two consecutive sessions. Gitanjali Gems tanked 19 percent on top of 20 percent correction in the previous session.

Nifty Midcap, as well as Nifty Bank indices, rallied 150 points each.

Fortis Healthcare gained 4 percent as the Supreme Court allowed the sale of pledged shares to lenders.

Indoco Remedies, Shriram EPC, Future Consumer, Apollo Hospitals, HOEC, KNR Construction, Vakrangee and 8K Miles Software were up 2-5 percent while Nalco was down 3 percent.

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