, 14 June 2018 -- US stocks ended a choppy session lower on Wednesday
after the U.S.
Global markets at a glance
US stocks ended a choppy session lower on Wednesday after the U.S. Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year.Two more hikes are now expected by the end of this year, compared with one previously.The central bank, which raised its benchmark overnight lending rate a quarter of a percentage point to a range of between 1.75 percent and 2 percent, also dropped its longstanding pledge to stimulate the economy "for some time."
Asian shares edged down on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about U.S.-China trade frictions kept investors on edge.MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25 percent in early trade. South Korea's KOSPI was off 0.9 percent, while Australia's market slipped 0.2 percent.Japan's Nikkei shed 0.7 percent.
The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 percent to 2 percent, as expected, on the back of strong U.S. economic growth.
Previous day Roundup
The Nifty which started on a positive note failed to hold on to momentum and witnessed profit booking near 10,900 levels and made a bearish candle on an intraday basis.
Traders preferred to book profits ahead of the crucial US Fed outcome but the positive takeaway is that the index managed to close above 10,850 levels which was the intraday high recorded earlier this week on Monday.
The Nifty index opened gap-up but failed to hold above 10,888 and consolidated in a narrow range with a support placed at 10,850-10,800 levels.
On the higher side, resistance is placed at 10,930 levels. Bank Nifty remained range bound for the most part of the trading session but trading range is slight
The Market was very volatile in last session. The sartorial in dices performed as follow; Commodities[-2.00pts], C o n s u m p t i o n [- 1 3 . 7 5 p t s ] , P S E [ - 4 . 7 0 p t s ] , C P S E [ - 4.20pts],Energy[47.95pts],FMCG[-145.00pts],Auto[- 7.20pts],Pharma[78.50pts],IT[174.30pts],Metal[- 16.10pts],Realty[-0.15 pts], Fin Serv sector[-22.35 pts].
1.CANBK [FUTURE ]
As per the daily chart this counter showed weakness at its upper level around 284 here we can a chance of early shorting position due to its support level breakout so we advice you to SELL CANBK FUTURE AROUND 279-278 TGT 276-272 SL ABOVE 281.
This particular script is getting support at its crucial level around 160-161, since 1week its continuosly rebounding from this level here we can get a buying opportunity on reversal so we advice to BUY NTPC FUTURE AROUND 160- 161 TGT 163-166 SL BELOW 158.50
STOCK RECOMMENDATION [CASH]
This particular counter is consolidating below its crucial resistance level of 381.50,if the market shows some strength then it can break this level and move towards the level of 388, here buy on breakout would be good startegy to follow so we advice to BUY KEC FUTURE ABOVE 381.50 TGT 385-388 SL BELOW 379.
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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Thursday, 14 June 2018 at 1:38 PM
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