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Summary For End Of The Stock & Commodity Market Trend

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END OF THE DAY REPORT (17th MARCH 2015):

Markets gain 1% on firm global cues ahead of Fed meet; Pharma Metals gains, IT stocks dip.

Markets ended with some robust gains on the back of steady buying support in select index heavyweights as well as on expectations that weak US economic data may prompt the US Federal Reserve not to announce hike interest rates at its two-day policy meet which begins later today. Nifty gains 90 points ends above 8700 at 8723 while Sensex ends at 28736.

“About IT companies Q4 Revenue concern ”

Cross currency will be the major concern for lower U.S. dollar revenue for the IT companies in Jan-Mar 15 revenue. KPIT dips for the fifth straight day after saying Q4 revenue will be flat due to cross-currency impact, TCS, Mind tree also indicated weak Q4 revenue outlook.

HEADLINES FOR THE DAY:

  • Amtek Auto has rallied more than 5% after it has acquired German based Scholz Edelstahl GmbH.
  • Crompton Greaves gains after appoints Mr. K N Neelkant as Vice-President and President.
  • HDFC gains as much as on higher advance tax payment.
  • Axis Bank surged as plans to launch bonds globally
  • Ess Dee dips and touch new low on the back of heavy volumes.
  • Hitachi Home and Life Solutions hits fresh high after Siemens signs MOU for Smart City initiative.
  • DRI has issued tax notice on Essar Group; Stock down.

GAINERS:

  • Sun Pharma today surpassed SBI in terms of market valuation. Sun Pharma m-cap (market capitalization) increased to Rs 215394.82 crore overtaking SBI whose valuation stood at Rs 209488.41 cr.
  • Tata Motors gains on expectations of a revival in the demand for commercial vehicles.
  • Banking stocks gains as shown healthy growth in their advance tax deposit this quarter.
  • Granules India hits new high after USFDA inspected its Gagillapur manufacturing facility.
  • Hindalco gains 6% after CBI has filed FIR (first information Report) and begun separate probe into diversion of coal.
  • Jet Airways gains as plan to launch dedicated freighter operations & becoming the first private Indian passenger airline to offer all-cargo services.
  • Just Dial gains 3% after Citi upgrades stock rating to buy from sell.

ON THE FLIP SIDE:

  • KPIT falls 8% after the company reported that the revenue growth in dollar terms is expected to be muted in Q4 FY15 (Jan-March) mainly due to significant negative cross currency impact.
  • IT stocks were ended in red zone; Infosys dips to a fresh intra-day low of 2217 on profit booking.
  • Zeel slips 1 percent on block deal.
  • Jindal Steel falls as much as on reports that government is expected to reject 2 bids (gare Palma and Tara block) from the company.

SOME STOCKS FOR NEXT TRADING SESSION:

  • KPIT falls on the negative growth outlook as well as given breakout of channel in daily charts and closed with big bearish candle and change the trend, so it indicate may be stock fall further; Sell KPIT EQ below 189.10 Targets 187.20/185.40/183.50 SL 240.60.
  • Just Dial gains after rating agency upgrade stock to buy from sell as well as stock had shown good recovery in lower level, So may be stock gains further; Buy JustDial EQ above 1188.60 Targets 1200.50/1212.50/1224.60 SL 1176.

GLOBAL MARKET:

  • European shares ended on flat note as trader’s cautions ahead of upcoming data from Germany and the euro zone and Italy’s central bank governor questioned the efficiency of the ECB (European Central Bank’s) quantitative easing program.
  • Australia shares gains led by Telecomm Services, Energy and Resources sectors.
  • China’s main stock index hits new high in morning trading session breaking through a key psychological resistance level to raise trader’s hopes that the market has resumed a bull run begun midway through last year.
  • Asian shares gains led by Tokyo with the focus on the Fed Reserve’s meeting which will be held tomorrow.

MCX Gold is expected to see some support at around 25670-75, immediate resistance is at 25750. Bearish trend still seems to have strength and could go down if it reaches its support.

Vivek Tyagi is the founder of trifidresearch.com where he provides free and premium Nifty Tips and Stock Tips by the depth technical and Fundamental Research and also provides the stock market information and resources.

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