Market Mantra: 26/07/2017 (09:00)
SGX-NF: 9980 (+7 points)
For the Day:
*Key support for NF: 9935-9895/9860*
*Key resistance for NF: 10005-10050*
*Key support for BNF: 24700-24875*
*Key resistance for BNF: 24500-24300*
*Hints for positional trade:*
*Time & Price action suggests that, NF has to sustain over 10005 area
for further rally towards 10050-10115 & 10195-10250 in the short term
(under bullish case scenario).*
*On the flip side, sustaining below 9985 area, NF may fall towards
9935-9895/9860 & 9775-9715 area in the short term (under bear case
scenario).*
*Similarly, BNF has to sustain over 24700 area for further rally towards
24875-25050 & 25275-25580 area in the near term (under bullish case
scenario).*
*On the flip side, sustaining below 24650-24600 area, BNF may fall
towards 24500-24300 & 24100-24000 area in the near term (under bear case
scenario).*
As par early SGX indication, Nifty Fut (July) may open around 9980,
almost flat tracking mixed global cues; China/HKG market is in red today
amid neutral PBOC & ongoing effort of deleveraging and some reports of
US sanctions on certain China companies/entities over the NK issue.
But most of the other major Asian markets are in green today following
optimism over commodities (metals/oil) and higher USD (i.e. lower Yen,
AUD & other Asian currencies aiding for the export narratives).
Overnight, US market (DJ-30) also closed upbeat at another record high
around 21613 (+0.47%) amid hopes of Trumpcare (which failed early in the
morning today again), blockbuster US consumer confidence and a decent
housing report; but primarily aided by surprised report card from
Caterpillar & Mac.
The upbeat earnings of CAT may be very much encouraging for the
reflation trade, as it’s indicating a modest increase in demand (+10%)
for its construction equipments from China, which has also boosted
commodities like Dr. Copper; CAT performance is being regarded as one of
the main barometer of the global growth engine (like L&T in India).
Back to home, all eyes may be on the ongoing Q1 report cards, which is
so far termed as largely mixed/stable, except some GST shockers;
yesterday’s Axis Bank report card may be at par estimates, but the
overall trend of stressed assets may be also indicating that the NPA
cycle may not be at its peak.
Apart from corporate/business NPA, retail stressed assets may also surge
for the Indian Banks & NBFC in the days ahead considering the recent
surge in personal loan/credit cards/consumer loans from Mobile to AC to
even subprime customers, which may be reminding us the era of 2008-10
greed of banks & retails.
<https://2.bp.blogspot.com/-aep6r0-fMx8/WXgWkH5aBRI/AAAAAAAAMe4/189oRNQmE5g400DmAaLuLYjG6B6m_EZCQCLcBGAs/s1600/NF-26-07-2017.png>
SGX-NF
--
Thanks & Regards,
Asis Ghosh
--
Kindly email stock reports at
STOCKRESEARCHER@googlegroups.com
For sharing knowledge
-- NIFTYVIEWS.COM NOW A FREE OPEN SOURCE WEBSITE.
http://www.niftyviews.com/
Disclaimer :-
"The opinions expressed by the members on this board are based on
their individual experience and perceptions and to share information
with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of
www.Niftyviews.com just provide a platform for the authors to express their opinion
and take no guarantee for the genuineness of the same."ANY member of this forum
doesnt prepare or publish any research report; or ii. provide research report; or
iii. make 'buy/sell/hold' recommendation; or iv. give price target;
---
You received this message because you are subscribed to the Google Groups "Niftyviews.com" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to stockresearcher+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
