Wednesday, December 11, 2019

GBPINR : Fundamental View : 12.12.2019

GBPINR : Fundamental View : 12.12.2019

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* GBP increased against USD by 0.3 percent yesterday while GBPINR depreciated by 0.16 percent.

* UK braces for critical election called to break Brexit deadlock today on 12th Dec’19. Boris Johnson has promised a right-wing Conservative government would "get Brexit done" and take the UK
out of the EU by the end of January 2020 with his withdrawal agreement. Meanwhile, Corbyn has said he would broker a softer divorce deal than Johnson's and put a revised withdrawal
agreement to a referendum, alongside the option to remain, within six months.

* GBPINR is expected to move sideways in today’s session

EURINR : Fundamental View : 12.12.2019

EURINR : Fundamental View : 12.12.2019

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* EURINR appreciated by 0.32 percent yesterday while EURINR appreciated by 0.1 percent the same time frame.

* ECB will be holding their monetary policy meeting on 12th Dec’19. Meanwhile, the shared currency got a modest boost from the German ZEW survey, which beat expectations, as the country’s
Economic Sentiment jumped to 10.7 in December, while for the whole Union was up to 11.2, both largely surpassing the market’s expectations.

* EURINR is expected to move sideways in today’s session.

USDINR : Fundamental View : 12.12.2019

USDINR : Fundamental View : 12.12.2019

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* Indian Rupee appreciated by 0.14 percent yesterday while the Dollar index remained flat during the same time frame.

* On the trade war front, U.S. and Chinese trade negotiators are laying the groundwork for a delay of a fresh round of tariffs set to kick in on Dec. 15, officials on both sides said, as they haggle over
how to get Beijing to commit to massive purchases of U.S. farm products on which President Trump is insisting for a near-term deal. The US FED, announced its latest monetary policy decision, and as
expected, policymakers kept rates on hold. The FOMC funds rate was left at 1.50%-1.75. The accompanying statement showed that policymakers would continue to monitor data for the economic
outlook “including global developments and muted inflation pressures.”

* USDINR is expected to appreciate in today’s session.

EURINR : Technical View : 12.12.2019

EURINR : Technical View : 12.12.2019

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 The EURINR closed flat by -0.06 % during its previous trading session.

 But, on the daily timeframe, the pair has started trading below its Parabolic SAR which signals bearish strength in the counter.

 Moreover, the pair has broken down of its Ichimoku Cloud which signifies bearish momentum in the counter.

 Additionally, the counter’s Heikin Ashi candle has made a series of red candles which indicates weakness.

 So based on the above technical structure, we expect a bearish move in EURINR towards 78.53 level. 

GBPINR : Technical View : 12.12.2019

GBPINR : Technical View : 12.12.2019

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 In the last trading session, GBPINR faced pressure from the upper levels and fell by 0.31%.

 Also the pair has faced resistance near its upper Bollinger Band which signals that the bears have entered the counter.

 Moreover, the Heikin Ashi candle of the pair has made a series of red candle which signals weakness in the counter.

 Additionally, momentum indicator Stochastic (6) has been moving in a negative crossover which indicates bearishness.

 So based on the above technical structure, we expect bearish move in GBPINR future towards 93.15 level.

JPYINR : Technical View : 12.12.2019

JPYINR : Technical View : 12.12.2019

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 During it’s previous session JPYINR faced pressure and closed on a negative note by 0.19%

 Also, the pair has sustained below its Ichimoku Cloud which indicatesthat the bears are in control.

 Furthermore, the price has remained below its 20*50 EMA which is weak for the counter.

 Additionally, momentum indicator Stochastic (6) has been moving in a negative crossover which indicates bearishness in the counter.

 So based on the above technical structure, we expect bearish move in JPYINR towards 65.22 level.

USDINR : Technical View : 12.12.2019

USDINR : Technical View : 12.12.2019

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 The USDINR closed on a flat note during the last trading session.

 But, the price has been trading below its Ichimoku Cloud which signifies bearish presence in the counter.

 Moreover, the price has been trading below its Parabolic SAR which indicates power to the bears.

 Additionally, momentum indicator MACD has been moving in a negative crossover, which indicates that the bears are in control.

 Hence, we expect sideways to bearish move in USDINR future towards 70.87 level.

Today Commodity Pivot Table : 12.12.2019

Today Commodity Pivot Table : 12.12.2019


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Diamond : Technical View : 12.12.2019

Diamond : Technical View : 12.12.2019

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On the daily chart, the price closed with negative note during the last session.

Moreover, It has sustained below the 21*50 days SMA’s and Parabolic Sar, which signifies power to the bears.

Furthermore, the price has sustained below the Falling Trendline, which adds pressure in the counter.

Momentum indicators RSI has crossed below 50 level, which indicates bearishness.

As per the above technical structure; we expect bearish move in the counter.

Crudeoil : Technical View : 12.12.2019

Crudeoil : Technical View : 12.12.2019

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On the daily chart, the price slipped 1.10% in the last session.

However, the price has pulled back from the lower Bollinger Band, which indicates bullish trend may remain continue.

Furthermore, the price has also shifted above the 200 SMA which suggest rising prices.

In addition, momentum indicator RSI (14) has sustained above it’s 50 level which is positive for Crude Oil.

As per the above technical structure; we expect bullish move in the counter

Copper : Technical View : 12.12.2019

Copper : Technical View : 12.12.2019

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On the daily chart, the price has gained 0.73% during the last session.

Moreover, the price has shifted above the upper line of the Symmetrical Triangle Pattern, which confirms bullish strength in the counter.

Furthermore, the price has shifted above the 50*20 day's SMA, which indicates control in the hands of the bulls.

On the other hand, momentum indicator RSI(14) has been moving above the level 50, which may indicate bullish indication.

As per the above technical structure; we expect bullish move in the counter.

Gold : Technical View : 12.12.2019

Gold : Technical View : 12.12.2019

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On the daily chart, the price has been trading below the falling trend line but it gained 0.34% during the last session.

However, the price has been trading below the median line of the Bollinger Band, which adds bearish strength in the counter.

Furthermore, the price has shifted below the 21*50 days SMA’s and Parabolic Sar, which signify negative sentiments for the counter.

Additionally, RSI(14) has sustained below the 50 level, which suggests falling prices in the near term.

As per the above technical structure; we expect a bearish move in the counter.

Today's Stock News - 12.12.2019: 09.00 Am

Today's Stock News - 12.12.2019: 09.00 Am
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* BANK OF INDIA: Under its new credit outreach programme, the bank plans to disburse loans to the tune of 75-100 bln rupees, Executive Director C.G. Chaitanya said.

* BHARTI AIRTEL: The company said news on Dish TV merger speculative, does not want to comment. Chairman Sunil Mittal called on the government to ensure that the Indian telecom market continues to have three private carriers. He also urged the Centre and the judiciary to give "sympathetic consideration" to the industry's appeal for relief after the Supreme Court's order on adjusted gross revenue left companies
struggling.
-Reliance Jio Infocomm and the company have stepped up the fight for subscribers by rolling out
higher incentives for retailers who can win over each other's customers, having just raised tariffs.

* CADILA HEALTHCARE: The company has launched Vildagliptin tablets for 4.95 rupees each.

* CIPLA: Avenue Therapeutics, Inc has submitted a new drug application to US Food and Drug
Administration for IV tramadol for the management of moderate to moderately severe pain in adults in a medically supervised health care setting.

* DEWAN HOUSING FINANCE CORP: The Reserve Bank of India has appointed EY India as advisor to the administrator and AZB & Partners as legal advisors for the company.

* GENERAL INSURANCE CORP OF INDIA: The company has appointed general managers Reena
Bhatnagar and Deepak Prasad to jointly look after financial and administrative powers and functions of the chairman and managing director, effective Tuesday, till the post is filled by the government or until further orders, whichever is earlier.

* GMR INFRASTRUCTURE: GMR airports' board, at its meeting scheduled on Friday, will consider a proposal to raise 2.5 bln rupees through issue of non-convertible debentures. 

* GUJARAT STATE PETRONET: J.N. Singh has stepped down as the managing director of the company.

* HG INFRA ENGINEERING: The company's road project in Rajasthan has received Dec 10 as appointed date from the National Highways Authority of India.

* HINDUSTAN PETROLEUM CORP: Facing flak over the declining number of liquefied petroleum gas cylinder refills under the Pradhan Mantri Ujjwala Yojana, the company has started the auto-booking of cylinders for inactive connections.

* ITC: Is extending its nascent frozen foods business to a range of new products and smaller towns and cities to compete with more established rivals such as McCain Foods and Godrej Yummiez, even as it chases an ambitious target of 1 trln-rupee non-tobacco FMCG sales by 2030.

* JET AIRWAYS INDIA: The National Company Law Tribunal has sought a reply from the Directorate General of Civil Aviation and the civil aviation ministry on whether the air slots belonging to the company that had been assigned to other airlines would be returned if the bankrupt company were to find a new owner.

* MAHANAGAR TELEPHONE NIGAM: The company will seek shareholders' approval to raise 62.95 bln rupees through issue of preference shares on private placement basis to the government towards payment of spectrum cost of fourth generation.

* MAHINDRA & MAHINDRA: Anand Mahindra, the chairman of the company, on Wednesday admitted that entering the commuter bike segment more than a decade ago was a failure on the part of the group.

* MANPASAND BEVERAGES: The company made an application to the stock exchanges on Tuesday to extend the time for submission of financial results for the June quarter.

* MARUTI SUZUKI INDIA: Aggressive promotion by the company and an uptick in enquiries ahead of price hikes in January are seen translating into improved demand for passenger vehicles in December, said Shashank Srivastava, company's executive director, marketing and sales.
-Is confident its Bharat Stage-VI and compressed natural gas models will be enough to make up for
the absence of diesel variants from its portfolio, helping it hold on to the top spot.

* MCLEOD RUSSEL INDIA: The Kolkata bench of National Company Law Tribunal is yet to admit the application filed by YES BANK against the company under Section 7 of the Insolvency and Bankruptcy Code, 2016.

* NESTLE INDIA: National Anti-profiteering Authority on Wednesday held that the company's
methodology of passing reduction in the tax was arbitrary.

* PRESTIGE ESTATES PROJECTS: The company's board will meet on Saturday to consider raising funds through rights issue, public issue, qualified institutional placement, preferential issue of shares or any other method.

* RELIANCE CAPITAL: Has informed the exchanges that it's servicing of interest or principal of nonconvertible debentures falling due on Dec 9 is delayed.

* RSWM: The board has approved raising up to 1.5 bln rupees through rights issue to eligible equity
shareholders. -India Ratings and Research has cut the long- and short-term credit ratings of the company.

* RUPA & CO: The company has set up a wholly-owned subsidiary, Rupa Fashions, for manufacturing and trading of hosiery and related goods.

* UJJIVAN FINANCIAL SERVICES: Government of Singapore bought 0.51% stake or 620,807 shares in the company at 342.31 rupees a share through a bulk deal on the National Stock Exchange.

* UNITED BREWERIES: Will drop its oldest global distributor, Ultimate Branding Worldwide. The move comes in the wake of investigations by the Enforcement Directorate into a possible nexus with the former liquor baron Vijay Mallya following a whistle-blower complaint.

* VODAFONE IDEA: The company denies report of any negotiations taking place with Brookfield Asset Management Inc and Edelweiss Group on sale of assets.

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Today's Sector News - 12.12.2019: 09.00 Am

Today's Sector News - 12.12.2019: 09.00 Am
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* AUTOMOBILE: Mercedes-Benz India will raise prices across its models by up to 3% from the first week of January to offset the rise in input and commodity costs.

* BANKING: Reserve Bank of India Governor Shaktikanta Das met managing directors and chief executive officers of major public sector banks on Wednesday to discuss several issues pertaining to the banking sector.

* CORPORATE: The Supreme Court's directive to telecom service providers to pay the pending dues
pertaining to the underpaid licence fees and associated penalties and interest could adversely impact the nontelecom companies including GAIL, OIL INDIA, and POWER GRID CORP OF INDIA.

* FINANCE: The Lok Sabha on Wednesday passed the International Financial Services Authority Bill, 2019 which seeks to establish an authority to develop and regulate financial products, services and institutions in international financial services centres in India.

* INFRASTRUCTURE: The Cabinet has approved setting up of an Infrastructure Investment Fund by the National Highways Authority of India to enable it to monetise completed national highway projects that have a toll collection track record of at least one year.
-The Cabinet has approved 53-bln-rupee additional equity support to India Infrastructure Finance Co
Ltd in 2019-20 (Apr-Mar) and 100 bln rupees more in the following year. The government has left it open whether the equity infusion will be through budgetary support or by issuing recapitalisation bonds or a combination of both.
-The Union Cabinet on Wednesday approved revision in funding pattern for three approved priority
corridors of Delhi Metro phase IV, in line with the Supreme Court order in September directing the Centre to bear half of the cost of land for the three corridors.

* INSURANCE: The Insurance Regulatory and Development Authority of India has allowed insurance companies to invest in debt exchange-traded funds with underlying debt securities of central public sector enterprises.

* NON-BANKING FINANCE COMPANIES: The Union Cabinet has approved relaxation of the partial credit guarantee scheme for purchase of high-rated pooled assets of non-banking and housing  finance companies by public sector banks.

* OIL AND GAS: The Organization of the Petroleum Exporting Countries today maintained its projections for growth in global crude oil demand for 2020 as well as for 2019.

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Nifty-Sensex-Pre Market View - 12.12.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 12.12.2019: 09.00 Am
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Pre-Session: Domestic bourses likely to start on positive note
12/12/2019 08:22
Indian benchmark indices are expected to start the day in green on Thursday. US Fed's status quo on interest rates, UK election and the release of India's IIP and inflation prints due later in the day will influence investor sentiment today.

In line with expectations, the Federal Reserve on Wednesday held interest rates steady in a target range of 1.5 per cent - 1.75 per cent following its two-day meeting and indicated that no action is likely next year amid persistently low inflation.

Besides, the UK will go to the polls on Thursday for the country's third general election in less than five years. Back home, Industrial production data for October and consumer price index-based (CPI) inflation print for November are slated to be released later in the day.

Also, the Union Cabinet on Wednesday approved a partial credit guarantee scheme for NBFCs and housing finance companies. This will allow public sector banks to buy pooled assets from financially sound entities.

On Wednesday, the 30-share benchmark index ended at 40412.57 up by 172.69 points or by 0.43 % and then NSE Nifty was at 11910.15 up by 53.35 points.


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Today Commodity Pivot Table : 11.12.2019

Today Commodity Pivot Table : 11.12.2019


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Diamond : Technical View : 11.12.2019

Diamond : Technical View : 11.12.2019

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On the daily chart, the price closed with negative note during the last session.

Moreover, It has sustained below the 21*50 days SMA’s and Parabolic Sar, which signifies power to the bears.

Furthermore, the price has sustained below the Falling Trendline, which adds pressure in the counter.

Momentum indicators RSI has crossed below 50 level, which indicates bearishness.

As per the above technical structure; we expect bearish move in the counter.

Crudeoil : Technical View : 11.12.2019

Crudeoil : Technical View : 11.12.2019

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On the daily chart, the price slipped 0.02% in the last session.

However, the price has pulled back from the lower Bollinger Band, which indicates bullish trend may remain continue.

Furthermore, the price has also shifted above the 200 SMA which suggest rising prices.

In addition, momentum indicator RSI (14) has sustained above it’s 50 level which is positive for Crude Oil.

As per the above technical structure; we expect bullish move in the counter.

Copper : Technical View : 11.12.2019

Copper : Technical View : 11.12.2019

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On the daily chart, the price has gained 0.03% during the last session.

Moreover, the price has shifted above the horizontal trend line, which confirms bullish strength in the counter.

Furthermore, the price has shifted above the 50*20 day's SMA, which indicates control in the hands of the bulls.

On the other hand, momentum indicator RSI(14) has been moving above the level 50, which may indicate bullish indication.

As per the above technical structure; we expect bullish move in the counter. Copper D

Gold : Technical View : 11.12.2019

Gold : Technical View : 11.12.2019

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On the daily chart, the price has been trading below the falling trend line but it gained 0.03% during the last session.

Moreover, the price has been trading below the median line of the Bollinger Band, which adds bearish strength in the counter.

Furthermore, the price has shifted below the 21*50 days SMA’s and Parabolic Sar, which signify negative sentiments for the counter.

Additionally, RSI(14) has sustained below the 50 level, which suggests falling prices in the near term.

As per the above technical structure; we expect a bearish move in the counter.