Tuesday, 15 March 2016

TWISTER TUESDAY! DEFENSIVE BEARS LET NIFTY FELL BELOW 7500

BUY ARVIND ABOVE 270 TGT 275, 285 SL 265
After remaining in a narrow trading band for the past five days, bears were on the offensive as defensives led the fall. The BSE Sensex fell 253 points to 24551 bands the NSE Nifty declined 78 points to 7460.  Some buying activity is seen in banking, capital goods, realty, oil and gas, energy and metal sectors, while pharma, IT, FMCG, utilities, realty, consumer durables, telecom and power sectors are showing weakness on BSE.Asian stocks fell on Tuesday after the Bank of Japan painted a gloomier view of the world's third-largest economy, but the yen firmed as policymakers appeared to back away from any imminent move to cut interest rates further into negative territory. 11 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE. The Indian equity markets lost ground on Tuesday amid weakness in equity markets across the globe Some weakness in the rupee too weighed on the sentiment. On the global front, European equities were under pressure with FTSE, CAC and DAX falling around a percent, tracking a shaky lead in Asia where markets were mostly lower. The Bank of Japan decided to keep its monetary policy steady rather than increasing its firepower. Japan's Nikkei and Hong Kong's Hang Seng fell 0.7 percent each while Shanghai gained 0.2 percent. The BSE metal index, a gauge of base metal companies on the BSE, has surged 6.6 per cent in the past one month. Its constituents have rallied up to 30 per cent in the same period with Hindalco, Vedanta, JSPL and Nalco leading the way.SBI, Bank of Baroda, PNB, Bosch, Tata Steel, Yes Bank and Bharti Airtel were among the gainers on NSE, whereas Lupin, HDFC, ZEEL, Dr.Reddy's and ITC were among the losers today
 


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