The market is on very fluctuating mode and Trifid Research is always provide best solution for every market conditions in the tip forms such as Free Stock Tips, Option Trading Tips and index Tips (Nifty Tips) etc. Trifid Research has a capital and experienced research Tips which always ready for customer support. DOMESTIC
Equity
Indian markets closed in red. Nifty is still holding itself around 8050 levels. Indian markets traded amidst huge volatility. Nifty is holding its crucial support of 8050 levels. Weak China and USA economic data has created selling pressure. Metals went down over weak Chinese data. Nifty seems to be taking support of 8030 levels. Nifty is expected to fall further as India's Mfg PMI didn't come well.
Banking sector went up; Moody's rating upgraded outlook for the sector from negative to stable. PSU Banks went up after getting the improvised outlook for the sector by the rating agency Moody. As per Moody's business environment has improved and the government is planning to invest more capital into the banks in order to make them healthier.
The upgraded outlook for the sector takes into account the next 12-18 month performance. From long term perspective banking is on buy. SBI is good only above Rs. 238.
India's Mfg PMI went down in the month of October. India's only PMI suggesting manufacturing growth i.e. Nikkei's Mfg PMI has posted weak data for the Indian economy. October data went down. FM has already said that India is facing the impact of weak global demand. Nifty is expected to loosen up further from current levels. Capital is goods, metals likely to fall.
IT stocks were in demand over weak INR. APSEZ posts flat earning data. IT stocks gained today over weak INR. IT firms generates major revenue through exports and weak INR increases their revenue in Rupee terms. APSEZ went highly volatile after posting weak bottom line growth. IT stocks too will lose if INR stays at current levels or gets a little stronger from here. Overall scenario for the IT firms isn't good as demand is still weak across the globe.
INTERNATIONAL
Commodity
Gold looks bearish and is expected to trade in a range. Equities are somehow struggling to maintain its trend and this has provided temporary support to gold. MCX gold will not drop as smoothly as in COMEX over festive season demand. Gold is expected to trade in range of $1143 - $1135. Trend will only get confirmed once these levels get breached on either of the side; $7-$10 rally remains on the cards from there.
Crude prices are looking bearish over weak demand. Crude Oil prices are looking bullish in midterm, but short term demand is looking weak, which could trigger selling in it. Crude Inventory will decide the week's trend. Crude prices are expected to fall around half a cent from current levels. It is likely to settle around $45.
European stocks went up unprecedented over better than expected factory output data by the Euro zone economies. European markets reduced their losses after the Euro zone economies posted good economic data. This trend might provide much needed support to the entire Europe. Overall scenario looks weak for UK while France and Germany are better placed. The euro is good versus GBP.
Data due tomorrow: UK Construction PMI, Spanish Unemployment Rate and US Factory Orders. US will post its much awaited manufacturing data today in the evening, which will set the trend for gold. Wednesday is important for data re; lose perspective. US construction data, US manufacturing data will decide the trend of currency and gold for the week.
The market is on very fluctuating mode and Trifid Research is always provide best solution for every market conditions in the tip forms such as Free Stock Tips, Option Trading Tips and index Tips (Nifty Tips) etc. Trifid Research has a capital and experienced research Tips which always ready for customer support.
Equity
Indian markets closed in red. Nifty is still holding itself around 8050 levels. Indian markets traded amidst huge volatility. Nifty is holding its crucial support of 8050 levels. Weak China and USA economic data has created selling pressure. Metals went down over weak Chinese data. Nifty seems to be taking support of 8030 levels. Nifty is expected to fall further as India's Mfg PMI didn't come well.
Banking sector went up; Moody's rating upgraded outlook for the sector from negative to stable. PSU Banks went up after getting the improvised outlook for the sector by the rating agency Moody. As per Moody's business environment has improved and the government is planning to invest more capital into the banks in order to make them healthier.
The upgraded outlook for the sector takes into account the next 12-18 month performance. From long term perspective banking is on buy. SBI is good only above Rs. 238.
India's Mfg PMI went down in the month of October. India's only PMI suggesting manufacturing growth i.e. Nikkei's Mfg PMI has posted weak data for the Indian economy. October data went down. FM has already said that India is facing the impact of weak global demand. Nifty is expected to loosen up further from current levels. Capital is goods, metals likely to fall.
IT stocks were in demand over weak INR. APSEZ posts flat earning data. IT stocks gained today over weak INR. IT firms generates major revenue through exports and weak INR increases their revenue in Rupee terms. APSEZ went highly volatile after posting weak bottom line growth. IT stocks too will lose if INR stays at current levels or gets a little stronger from here. Overall scenario for the IT firms isn't good as demand is still weak across the globe.
INTERNATIONAL
Commodity
Gold looks bearish and is expected to trade in a range. Equities are somehow struggling to maintain its trend and this has provided temporary support to gold. MCX gold will not drop as smoothly as in COMEX over festive season demand. Gold is expected to trade in range of $1143 - $1135. Trend will only get confirmed once these levels get breached on either of the side; $7-$10 rally remains on the cards from there.
Crude prices are looking bearish over weak demand. Crude Oil prices are looking bullish in midterm, but short term demand is looking weak, which could trigger selling in it. Crude Inventory will decide the week's trend. Crude prices are expected to fall around half a cent from current levels. It is likely to settle around $45.
European stocks went up unprecedented over better than expected factory output data by the Euro zone economies. European markets reduced their losses after the Euro zone economies posted good economic data. This trend might provide much needed support to the entire Europe. Overall scenario looks weak for UK while France and Germany are better placed. The euro is good versus GBP.
Data due tomorrow: UK Construction PMI, Spanish Unemployment Rate and US Factory Orders. US will post its much awaited manufacturing data today in the evening, which will set the trend for gold. Wednesday is important for data re; lose perspective. US construction data, US manufacturing data will decide the trend of currency and gold for the week.
The market is on very fluctuating mode and Trifid Research is always provide best solution for every market conditions in the tip forms such as Free Stock Tips, Option Trading Tips and index Tips (Nifty Tips) etc. Trifid Research has a capital and experienced research Tips which always ready for customer support.