RepleteBell Market Update

Market Update 29th September 2017

After witnessing a powerful pullback in the opening hours, benchmark indices erased all of the gains in the final hour of trade on Friday. Sensex and Nifty ended nearly on a flat note.

The Sensex closed up 1.24 points at 31283.72, whereas the Nifty was up 19.65 points at 9788.60. The market breadth was positive as 1611 shares advanced against a decline of 899 shares, while 172 shares were unchanged. Midcaps had a robust day of trade while barring IT and FMCG, all sectoral indices ended flat to positive.Bajaj Auto, Adani Ports, GAIL and Eicher Motors gained the most on each Bajaj Auto, Adani Ports, GAIL and Eicher Motors gained the most on each index, whereas HUL and Wipro were the top losers.SBI life insurance Company, that recently completed its initial share sale offer, will make its stock market debut on Tuesday. The initial public offer (IPO) of Rs 8,400 crore was oversubscribed 3.58 times on September 20-22. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times whereas that of non-institutional investors received 70

SBI life insurance Company, that recently completed its initial share sale offer, will make its stock market debut on Tuesday. The initial public offer (IPO) of Rs 8,400 crore was oversubscribed 3.58 times on September 20-22. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times whereas that of non-institutional investors received 70 percent subscriptions and retail investors 85 percent, data available with the NSE showed. SBI Life is a joint venture between India’s largest lender state bank of India (SBI) and BNP Paribas Cardif (BNPPC), the insurance company of France.

Zydus Cadila has received the final approval from the United States Food and Drug Administration to market doxycycline tablets USP in strengths of 50 mg, 75 mg, 100 mg and 150 mg.  It will be manufactured at group’s formulations manufacturing facility at pharma SEZ, Ahmedabad.

Reforms over the past year have created disruption in India’s GDP numbers, however, the medium term potential looks bullish, and considering the growth trend, it might become the world’s third-largest economy within the next decade, says AN HSBC report. According to the global financial services major, although reforms over the past year have caused disruptions that may likely mean lower growth rates in the near term, they must allow India to unleash more of its undoubted potential over the medium term. “Although just 3 % of global GDP these days, India’s trend growth ought to see it overtake Japan and Germany to become the world’s third-largest economy within the next decade,” HSBC said in a research note. In line with this narrative, HSBC expects growth to slow from 7.1 % last year to 6.5 % over 2017-18 and 7 percent in 2018-19, before moving higher to 7.6 % in 2019-20.

Huawei Telecommunications India declared that it has partnered with Bharti Airtel for the deployment of Airtel’s massive MIMO in Bangalore. An integral component in India’s roadmap to 5G deployment, massive MIMO solution can potentially increase spectrum efficiency by 5 to seven times, enhancing intensive coverage and user experience, the company said. As India goes digital, there’s AN unprecedented rise in demand for higher network speeds to feed data-hungry mobile applications. large MIMO is the best technology to boost spectrum efficiency and is one of the key solutions for Huawei’s 4.5G/5G evolution. Increasingly, a lot of mobile phone users are transitioning from 3G to 4G devices, presenting a capacity challenge to operators. massive MIMO will facilitate operators greatly enhance wireless network capacity and user expertise by optimizing existing sites and spectrum resources.

Technical Summary for 3rd October 2017

Nifty open gap up today and showed some positiveness but it looses all its momentum in last hours. Yesterday we told you to watch 9700 & 9790 levels.  Today again it closes slightly below 9790. momentum indicator also not showing any weakness in trend. So on 3rd, we need to watch whether it manage to stay itself above these levels or close down. closing below 9700 will open new doors for bear. We are not advising to short until it closes below that level. Till then hold your positions with tight stop loss.

Remember: Successful Trading is all about how you manage your risk and position sizing. So always trade with proper Trade management.

DISCLAIMER: – we are not a SEBI research analyst. Views posted here only for educational purposes. There is no liability whatsoever for any loss arising from the use of this product or its contents. This product is not a recommendation to buy or sell, but rather a guideline to interpreting specified analysis methods.  This information should only be used by investors and traders who are aware of the risk inherent in securities trading

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