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EPIC RESEARCH : Special-Report Of 12 October 2018

India, 12 October 2018 -- Get the benefits of Epic Research free trial service, Epic Research offers two days free trial service for stock tips, bank nifty call, mcx ncdex tips, option trading tips and equity tips. Register today at http://www.epic-research.co

Global markets at a glance

Wall Street indexes continued their slide in Thursday's volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff. In its sixth consecutive day of declines, the S&P closed down 2.1 percent after shedding 3 percent in Wednesday's session. But at its session low the benchmark fell 2.7 percent to its lowest level since early July.The Nasdaq narrowly avoided confirming a correction. During the session it fell as much as 10.3 percent from its Aug. 29 closing record high but ended the day 9.6 percent below the record. Investors worried that equity markets would have trouble recovering as rising interest rates coincide with uncertainty about how much earnings growth would be hurt by a US trade war with China. Asian shares appeared tentative on Friday, holding steady after a nine-day losing streak, but sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high. Worries about the economic impact of a Sino-US trade war, a spike in US bond yields this week and caution ahead of earnings seasons are all cited as potential reasons behind the selloff, the biggest market rout since February. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent after the opening of the South Korea and Australian markets, a day after it fell 3.6 percent to hit 1- and-a-1/2 year low.

Previous day Roundup

Brutal sell-off following sharp correction in global peers dragged benchmark indices to fresh six-month low on Thursday. The Nifty50 ended with deep cuts amid fears of rapidly rising interest rates and likely slowdown in global economic growth hinted by IMF. The Nifty50 opened with big gap down at 10,169.80 followed by a bit of recovery from day's low of 10,138.60 in later part of the session. The index still closed 225.40 points lower at 10,234.70, the lowest closing level since April 4, 2018.India VIX moved up sharply by 14.68 percent to 20.53 levels. Spurt in VIX from previous day's low suggests that bears are not loosening their grip and bounce are being sold in the market. Now VIX has to cool down below 17.50-17 zones to get any sign of consolidation

RECOMMENDATIONS FUTURE

1. UJJIVAN FUTURE

After making a doji candle at its support level of 232 the particular counter has made a bullish confirmation candle which clearly show a sign of reversal, 255 is the only resistance level which is acting as a hurdle for it so we advice you to buy around 255-256 for the targets of 260-266 with stoploss below 252.







2. ITC FUTURE

The partiuclar counter is showing a tendency to rebound from its support level of 268, also it has made a doji candle at this level today we can get a opportunity to buy on dip so we advice to sell itc future around 269-271 for the targets of 274-278 with stoploss above 267.

STOCK RECOMMENDATION CASH
MINDTREE CASH


After consolidating in the range between 90-79 the stock made a clear breakout and closed with a bullish candle above its resistance level of 91.75. As per the daily chart if it sustains at this level then 99-100 levels can be achieved in intraday so we advice to buy ibrealest around 96-97 for the targets of 100-104 with stoploss below 94.


STOCKS IN NEWS

NALCO meeting of board of directors of the company will be held on October 12, 2018 to consider the proposal for buyback of the fully paidup equity shares of the company Tata Motors: Group global wholesales in September 2018, including Jaguar Land Rover, were at 1,23,577 numbers, higher by 6 percent compared to September 2017. The Nifty50 opened with big gap down at 10,169.80 followed by a bit of recovery from day's low of 10,138.60 in later part of the session. The index still closed 225.40 points lower at 10,234.70, the lowest closing level since April 4, 2018. Here you can go for sell on rise strategy around 10470-50 for the targets of 10400-10350 with stoploss above 10550.

COMMODITY ROUNDUP

COMEX Gold recovered from lows near $1200 per ounce levels as soaring crude oil futures and weak US dollar boosted the metal. The US dollar index is hovering under 94 mark - its lowest level in around three months though some recovery can be seen in the greenback ahead of the Fed monetary policy meet today. COMEX Gold is currently trading at $1206 per ounce, up marginally on the day. Continued strength in US economic data can also support the dollar. US consumer confidence climbed to 138.4 in September from an upwardly revised 134.7 in August, according to a report released by the Conference Board on Tuesday. With the unexpected increase, the consumer confidence index reached a new 18-year high and is not far from the all-time high of 144.7 reached in 2000.MCX Gold futures closed around Rs 30800 per 10 grams, down marginally on the day. Brent Crude oil prices soared to a four-year high around 81 per barrel on US sanctions on Iranian crude exports and steady cues from global stock markets.

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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Friday, 12 October 2018 at 1:26 PM
Category: Business
 
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