IIFL Securities Ltd Chidambaram

12/06/2024

20/05/2024

10/04/2024

[10/04, 9:08 am] Rajkumar Rajakkannu: Market Mantra...

India's blue-chips set to open higher; US inflation in focus

India's benchmark share indexes were seen opening higher on Wednesday amid continued expectations of a positive corporate earnings season, while focus turns to U.S. inflation data due later in the day for clues on interest rate cuts.
India's GIFT Nifty (GIFc1) was trading at 22,825 as of 8:23 a.m. IST, indicating that the Nifty 50 will open above its Tuesday close of 22,642.75.

US markets saw a day of consolidation yesterday. Dow Jones recovered from intra-day lows of over 310 points to close flat. Nasdaq closed higher by 53 points. Apple’s stock saw buying interest. CPI numbers expected to come today caused 10 year US treasury bond yields to fall over 6 basis points to 4.36%. Oil saw profit booking. WTI crude closed near US $85 per barrel.

Asian markets have opened on a mixed note today. Japanese 'Nikkei' is seeing profit booking. It is trading lower by 150 points in early trade. South Korean market is also trading lower. Buying is being seen in Chinese stocks. This due to commodities staging a sharp comeback. Copper, nickel & silver prices have risen sharply.

Nifty 50 saw a day of new highs yesterday. The index hit 22785 level in intra-day trade before a sharp bout of profit booking saw the index close lower by 23 points. Bank Nifty also scaled new highs. It closed higher by 149 points. Sensex hit the magic mark of 75000 in intra-day trade. Apollo Hospital, Hindalco & ICICI Bank led the gainers. Profit booking was seen in Titan, Coal India & Hero Motors.
[10/04, 9:08 am] Rajkumar Rajakkannu: Trading Strategy: Short Term (2-3 days): Buy Gail at 202-204. Stop Loss: 198. Target: 212.

Trading ideas (Time period: 1- 14 days): BUY Tata Chem April future @1133-1140. Stop loss: 1114.5. Target: 1160.

Derivative Strategy (Time Period: 1 month) : BUY SBI LIFE April future @1505-1510. Stop loss: 1467.7. Target: 1540.
[10/04, 9:08 am] Rajkumar Rajakkannu: Technical View:
Nifty is likely to find support at around 22500 level. 22850 is likely to act as resistance on the upside.

Bank Nifty is likely to find support at around 48400. 49500 is likely to act as resistance.

09/04/2024

Banknifty- Daily updated chart 09.08.2024

09/04/2024

Market view on 09.04.2024

Market Mantra...

Market set to open at fresh record highs.

India's benchmark share indexes were set to open at new all-time highs on Tuesday, helped by sustained inflows from domestic investors and financial updates from companies ahead of the earnings season.

India's GIFT Nifty (GIFc1) was trading at 22,839 as of 8:06 a.m. IST, indicating that the NSE Nifty 50 will open above its Monday close of 22,666.30.

US markets saw a day of consolidation yesterday. Indices closed flat. Dow Jones closed, down by 11 points. Nasdaq closed, up by 5 points. Bond yields closed near 5 month highs. Oil prices closed lower. US dollar index closed lower. Bitcoin crossed US $71000 level after a brief correction.

Asian markets have opened in the green today. Japanese 'Nikkei' is up by 200 points in early trade. South Korea & Taiwan markets were trading higher in early trade. IT stocks are seeing buying interest. Chinese stocks are expected to follow suit as emerging markets see a rebound.

Nifty saw a day of new highs on all its broader market indices, except for micro-cap index, yesterday. The breadth of the market was positive. Large cap stocks gained .Reliance, Maruti & M & M led the gainers. Adani Port, Nestle & Apollo Hospital saw profit booking. Nifty 100 index closed higher by 0.60%. This indicated that the mid cap universe is rising in tandem with Nifty 50.