MARKET OUTLOOK - GaneshStock

MARKET OUTLOOK

Issue No: III-IX-2017

Date: Thursday, September 21, 2017

Nifty Notes

The Nifty50 index formed a Harami pattern on Wednesday as it It traded in a range of 48 points and consolidated between 10,130 and 10,178 levels for last three sessions. Now, the Nifty has to hold above 10,138 to witness a bounce towards 10,200 and then 10,270 levels, while on the downside supports are seen at 10,080 and then 10,050 levels. Bank Nifty fell slightly and closed with a marginal loss of 0.31 per cent. Recently it made a high of 25,100 and failed to test its lifetime high of 25,198 mark. It has to hold above 25,000 level to witness a bounce towards 25,200 and then 25,500 levels, while on the downside supports are seen at 24,800 then 24,650 levels

SUPPORT :9850/9880

RESISTANC 10138/10200

Corporate News

Vedanta's Anil Agarwal to boost Anglo American stake by $2 bn. Plans to increase stake by up to 20%.

IUC cut to hit telcos' business by Rs 5k cr, 2G calls to suffer: COAI. Detailed methodology on which Trai's calculations are based is part of explanatory

memorandum to regulations: Trai Chairman R S Sharma. Shoppers Stop enters into commercial arrangement with Amazon India. The company also said that it will exclusively sell its products online on the Amazon.in marketplace. Hero MotoCorp surpasses 75 mn sales milestone. The 75 million sales milestone is in line with Hero's vision of surpassing 100 million sales by 2020. Bajaj Finserv ties up with Flipkart to offer no cost EMI option. A customer opting for No Cost EMI can shop through Bajaj Finserv store on Flipkart. SAIL to regain its position as country's largest steel producer. Earlier, private steel maker JSW Steel had outshined SAIL to become the largest steel producing company in the country.

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Economic News

India to hit 20 Gw of installed solar capacity by FY18-end: Report. India's total installed solar capacity has grown over 84% in last four quarters..

Car sales in India to grow by 9% in 2017: Moody's. Indian car sales will remain robust supported by impact GST as well as new model launches.

Indian investments into GCC touching $3 bn: Report. The GCC is a political and economic alliance of Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman.

India replaces China as top retail destination in 2017: Study. This was factored

iinnctelurdnientgp einncerteraasteiodnc,ofanvsouumrearblsepfeonrdeiinggn,

beyond essentials, rising mobile and investment climate and bold action on

cashless transaction.

Foreign exchange earnings from tourism surge to Rs 13,922 cr in Aug '17. There was a 10.9 per cent growth in FEEs in rupee terms in August 2017 over August 2016.

Global News

US retail sales down 0.2% in August; biggest drop in by the impact of Hurricane Harvey on motor vehicle

six months. purchases

It

was

likely

hurt

Australia, China seek to boost economic ties. Polls show Australians think too much Chinese property buying is allowed Down Under.

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Recommendations of the Day

Scrip

Code

Recommended Price

Target

Stop Loss

Equity technical Recommendations

S. No. Date

Action Company

Reco Product Price

Target Stop Time

Target 2

Loss Frame Remarks

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