| Indian Market | 6-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 17745.90 | -179.35 | -1.00% |
| Sensex | 59601.84 | -621.31 | -1.03% |
| Banknifty | 37490.25 | -205.65 | -0.55% |
| Indian Market | 6-Jan-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 30956.85 | 39.30 | 0.13% |
| Nifty Small-Cap 100 | 11450.10 | 23.65 | 0.21% |
| India VIX | 17.98 | 0.75 | 4.35% |
| US Market | 6-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 36236.47 | -170.64 | -0.47% |
| S&P 500 | 4696.05 | -4.53 | -0.10% |
| Nasdaq | 15080.90 | -19.30 | -0.13% |
| Currency / Commodity | 6-Jan-22 |
|---|---|
| Indices | Current |
| USD/INR | 74.4625 |
| EUR/INR | 84.2100 |
| Dollar Index | 96.25 |
| US 10-year bond | 1.721% |
| WTI Crude Oil | $ 80.12 |
| Brent Crude Oil | $ 82.65 |
| Gold | $ 1789.55 |
| Bitcoin | $ 42,881 |
| FII / DII Activity | 6-Jan-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 1926 | |
| DII | 800 |
Trade Setup
- US FOMC meeting minutes released on 5-Jan-22; meeting held on 14-15 December 2021. What led to reaction was news of US Fed talk to reduce Balance Sheet (Withdrawal of Stimulus) which could led to sharp decline in liquidity from market.
- We believe, this news has potential to trigger major correction globally across assets classes if it is done pre-maturely, we believe US Fed will act on it very carefully communicating well in advance.
- Wall Street continues to remain under pressure, where as US 10-year bond yield & Dollar Index were stable, Crude Oil is now near recent high, WTI Crude oil near $80 and Brent Crude above
- SGX Nifty @ 17831 up 11.50 points at 8:35 AM.
Technical View
- Nifty retracement on 38.2% level comes at 17520, Nifty rally from 16833 to 17944. Nifty remain in uptrend and 17520 could act as support level and opportunity for fresh buying.
- Banknifty rally from 34223 to 37862, retracement at 38.2% comes at 36475. Banknifty RSI @ 61.65 & RSI average @ 51.10 indicate consolidation zone.
- VIX @ 17.98 in only a factor of concern, in case VIX cross above 19 / 20 level, it would indicate high volatility.
- We are result season ahead of Budget, we would be closely watching for alerts and any possible sign of trend reversal.
Stock Updates
- Titan Company: The company witnessed strong demand across its consumer businesses in Q3 and clocked 36% growth over the festive quarter last year.
- Reliance Industries: Reliance Retail Ventures invested $200 million (about Rs 1,490 crore) in Dunzo for 25.8% stake.
- HFCL: The company has appointed Andrew Westerman as the Vice-President of International Sales, Communication Products, Rajesh Jain as the Executive President of the EPC Projects Business and Santanu Bhattacharyya as the Vice President and Head of FPGA Engineering.
- Hinduja Global Solutions: The company declared a dividend of Rs 150 per share and bonus share in 1:1 proportion. It also increased the authorised share capital from Rs 27.65 crore shares to Rs 80 crore shares. Consequently, equity share capital increased from 2.75 crore to 7.98 crore of Rs 10 each.
- Adani Enterprises: NTPC has awarded contract to the company for supply of 1 MMT of imported coal to its various power plants.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.