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Global markets at a glance
A broad sell-off of technology stocks pushed the three major U.S. stock indexes lower on Monday, with the Nasdaq Composite posting its third consecutive loss of more than 1 percent for the first time in three years just days after hitting a record high.The technology index tumbled 1.8 percent as investors looked to other sectors or took profits ahead of the volatile midterm election season.Shares of Facebook Inc and Netflix Inc slid 2.2 percent and 5.7 percent, respectively, pulling their fellow so-called FAANG stocks lower. Other FAANG stocks include Apple Inc , Amazon.com , and Google parent Alphabet Inc . Asian share markets weakened on Tuesday, taking cues from the rout in global technology shares while the yen edged higher ahead of the Bank of Japan's rate review, at which it could flag a shift away from its massive monetary stimulus.Japan's Nikkei fell 0.5 percent. South Korea's Kospi index dipped 0.1 percent despite solid second-quarter results from Samsung Electronics which posted a 5.7 percent rise in profit.MSCI's broadest index of Asia-Pacific shares outside Japan was mostly unchanged at 543.23 as were Australian shares .
Previous day Roundup
The Nifty50, after opening at fresh record high, erased gains after first hour of trade but managed to recoup those losses and remained higher for major part of the session on Monday.The index continued its positive momentum, forming a 'Hanging Man' kind of pattern on the daily candlestick charts indicating that there could be some consolidation or correction going ahead. The Nifty50 after opening at fresh record high of 11,296.65 hit 10,300-mark for the first time but corrected after first hour of trade to hit day's low of 11,261.45. The index managed to recoup those losses in late morning trade and hit a new intraday high of 11,328.10.India VIX moved up by 1.52 percent to 12.49. Overall lower volatility suggests bulls are holding the tight grip on the market .
The Market was very volatile in last session. The sartorial in dices performed as follow; Commodities[30.10pts], C o n s u m p t i o n [ 4 5 . 4 0 p t s ] , P S E [ 4 5 . 1 0 p t s ] , C P S E [23.50pts],Energy[217.70pts],FMCG[87.25pts],Auto [50.25pts],Pharma[76.55pts],IT[-97.35pts],Metal [22.60pts],Realty[0.50 pts], Fin Serv sector[47.85pts].
1. JSWSTEEL [ [ [FUTURE ]
In the earlier trading session this stock surged 1.45% with good strength and today it can also contunue its movement, this particular counter has a resistance level of 329.50 above this a chance of breakout can be grabbed, so we advice to buy jswsteel future around the levels of 330-331 for the targets of 335-340 with a stoploss below of 328.
2. PTC [FUTURE]
From the daily chart its clear that the particular script is moving in a continuos uptrend and has got a support at its important level of 78.60, it had closed above its previous resistance level of 79.70 today if the market shows strength then it is surly a buy so we advice to make a long position in ptc future around 79-79.30 tgt 85-90 sl below 76.
STOCK RECOMMENDATION [CASH]
The particular conter is getting a rejection from its crucial resistance level around 1137, even due to the bullish market it is unable to sustain above this level, in the earlier trading session the closing bearish candle overshadowed the previous bull indecision candle which is a clear sign of reversal so we advice to sell pidilitind around 1123-1120 tgt 1120-1100 sl above 1135.
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