, 15 June 2018 -- The S&P 500 edged up and the Nasdaq reached another record closing high on Thursday after the European Central Bank said it would avoid raising interest rates until mid-
2019, and data showed US economic strength.
Global markets at a glance
The S&P 500 edged up and the Nasdaq reached another record closing high on Thursday after the European Central Bank said it would avoid raising interest rates until mid- 2019, and data showed US economic strength.
The strong US retail sales numbers came a day after the US Federal Reserve increased its key interest rate and hinted at the possibility of two more hikes by the end of 2018.
The ECB announced it would end its bond-purchase program at year-end but signaled that any interest rate hike was still distant.
Asian shares wobbled on Friday as investors braced for US tariffs against China, while the euro flirted with two-week lows after a cautious European Central Bank indicated it would not raise interest rates for some time.
US President Donald Trump has made up his mind to impose “pretty significant” tariffs and will unveil a list targeting USD 50 billion of Chinese goods on Friday, an administration official said. Beijing has warned that it was ready to respond
Previous day Roundup
The bulls failed to remain in control of the market on Thursday amid weak global cues, after the US Federal Reserve raised its fed funds rate by 25 basis points on Wednesday.The Nifty held on to its crucial support of around 10,800, and made a bearish 'Hammer'-like pattern on the daily chart. Investors are advised to remain cautious as a decisive breach of 10,767 on Friday could extend the decline.The Nifty, which opened at 10,832, rose marginally to hit an intraday high of 10,833.70. It hit an intraday low of 10,773.55 before ending the session at 10,808, down 48 points.India VIX fell by 4.31 percent to 12.09. The Bank Nifty has been forming small-bodied candles from the last couple of sessions, indicating the absence of follow through on both sides. It has to continue to hold above 26,500 to witness an up move towards 26,750,.
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.ARVIND [FUTURE ]
After consolidating between a range 414-405 the stock has given a breakout and closed above this range now we can get a bull run upto 422-424 so we avice to BUY ARVIND FUTURE AROUND 418-419 TGT 424-430 SL BELOW 413
After consolidating between a range 163.50-160 the stock has given a breakout downside and closed below this range now we can get a downfall upto 157-156 so we avice to NTPC FUTURE AROUND 160-159.50 TGT 157.50-155 SL BELOW 162.
STOCK RECOMMENDATION [CASH]
This script has given a breakout after breaking its resistance level of 37 and closed at 39 now 39.85 is only hurdle for it so we advice to BUY MMTC ABOVE 39.90 TGT 41-44 SL BELOW 37
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