Foreign moolah flows into Indian market in Nov; 44 FII-heavy stocks rally 10-50%

FIIs which turned net sellers in Indian Capital markets in August, September and October pulling out nearly Rs 60,000 crore in the last three months turned net buyers in November.

After pulling out funds from Indian capital markets for three consecutive months in August, September and October, foreign institutional investors (FIIs) turned buyers in November.

They have poured in a little over Rs 10,000 crore (equity and Debt) in Indian markets so far this month as macro concerns receded due to fall in crude oil prices and a sharp appreciation in rupee against the dollar which went below Rs 70/USD in trade on Thursday.

“With the sharp decline in crude prices, almost 30 percent in 7 weeks, the key macro headwind for India has been addressed and the same is reflected in Indian rupee (appreciating over 4.6% in November, which is the strongest recovery in Asian FX),” Pankaj Pandey, Head-Research, ICICIdirect.com told Moneycontrol.

“With crude price outlook fading on excess supply concerns and the US Fed adopting a slightly dovish tone, strong EM stories have started to make a comeback. India is stacked well in current set up and FIIs are likely to renew their focus on Indian markets,” he said.

Pandey further added that India continues to offer one of the highest positive real rates (accretive Bond Inflows) and equity market has also cooled off falling more than 10 percent from its record high in January 2018 and looking more compelling based on forward growth projections.

US Federal Reserve's dovish outlook also helped money to flow into riskier assets. One big factor that will act in favour of India is the earnings growth. HSBC analysts said MSCI India EPS (earnings per share) growth consensus expectations — of 18.8 percent in 2018 and 24 percent in 2019 — pegs India as one of the fastest growing markets across the region.

FIIs turning net buyers in the Indian market also boosted some of the FII-heavy stocks. As many as 44 stocks in the S&P BSE 500 index, where FIIs hold more than 10 percent stake, have rallied 10-50% so far this month.

Stocks that witnessed rally include Adani Transmission (up 50%), followed by PNB Housing (up 28%), PC Jeweller (up 2%), Pidilite Industries (up 22%), BPCL (up 21%), Future Consumer (up 19%), VIP Industries (up 18%), and Kajaria Ceramics (up 17%). The table shows top 21 stocks from the list:

“It is indeed pleasant to see FIIs turning net buyers of Indian equities in November and the hope is that the trend would continue. As of now, data seems to suggest that a large part of the inflows is on the account of emerging market ETF flows of which India, too, is a beneficiary,” Shibani Kurian, Sr. Vice President and Head of Equity Research, Kotak Mahindra Asset Management Company (KMAMC) told Moneycontrol.

“In a scenario wherein risks are emerging to the global growth outlook, India does stand out with fairly stable expectations on GDP growth. Further, post the recent correction in the markets, valuations are not as stretched as before,” she said.

Source : https://www.moneycontrol.com/news/business/markets/foreign-moolah-flows-into-indian-market-in-nov-44-fii-heavy-stocks-rally-10-50-3233351.html  

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Technical Views | Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com suggests buying L&T Finance Holdings with stop loss at Rs 137 and target of Rs 142, ICICI Bank with stop loss at Rs 353 and target of Rs 363 and TCS with stop loss at Rs 1950 and target of Rs 2030.

The firm Asian cues and buying in technology stocks helped the market close higher on November 28 but the Nifty50's failure to hold on to its 200-DMA due to profit booking at higher levels indicated that traders turned cautious ahead of expiry of November futures & options contracts on November 30.

The 30-share BSE Sensex was up 203.81 points at 35,716.95 and the 50-share NSE Nifty rose 43.30 points to 10,728.90, but the broader markets underperformed frontliners with the Nifty Midcap index falling nearly a percent on weak breadth.

About three shares declined for every share rising on the NSE. The Nifty IT index rallied 2.9 percent while other major sectoral indices either closed flat or in a negative terrain.

The profit booking at higher levels, and selling & muted trade in major sectors indicated that the market internal picture remained very weak, experts said, adding one can avoid creating fresh longs.

According to Pivot charts, the key support level is placed at 10,699.8, followed by 10,670.8. If the index starts moving upwards, key resistance levels to watch out are 10,757.8 and then 10,786.8.

The Nifty Bank index closed at 26,457.95, up 14.85 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,390.1, followed by 26,322.3. On the upside, key resistance levels are placed at 26,555.3, followed by 26,652.7.

Ashwani Gujral of ashwanigujral.com

Buy IndusInd Bank with a stop loss of Rs 1600, target of Rs 1665

Buy L&T Finance Holdings with a stop loss of Rs 136, target of Rs 148

Buy HDFC with a stop loss of Rs 1900, target of Rs 2010

Buy Mindtree with a stop loss of Rs 865, target of Rs 900

Buy Apollo Tyres with a stop loss of Rs 230, target of Rs 245

Sudarshan Sukhani of s2analytics.com

Buy L&T Finance Holdings with stop loss at Rs 137 and target of Rs 142

Buy ICICI Bank with stop loss at Rs 353 and target of Rs 363

Buy TCS with stop loss at Rs 1950 and target of Rs 2030

Buy Dabur India with stop loss at Rs 405 and target of Rs 425

Buy HDFC Bank with stop loss at Rs 2070 and target of Rs 2150

Mitessh Thakkar of mitesshthakkar.com

Buy Havells India with a stop loss of Rs 662 and target of Rs 685

Buy ICICI Bank with a stop loss of Rs 354 and target of Rs 374

Buy L&T Finance Holdings with a stop loss of Rs 135.5 and target of Rs 145

Buy Reliance Industries with a stop loss of Rs 1139 and target of Rs 1184

Source:  https://www.moneycontrol.com/news/business/markets/technical-views-top-buy-sell-ideas-by-ashwani-gujral-sudarshan-sukhani-mitessh-thakkar-for-short-term-3-3232091.html

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26/11 Mumbai Attack Anniversary: When LeT trained Ajmal Kasab on 'how to fish'

The sea training, as per the book written by historian Saroj Kumar Rath, also included 'how to fish', something that made Kasab think that 'he had got a job and he could earn a respectable living'.

Pakistani militant group Lashkar-e-Taiba (LeT) gave "sea training" to 26/11 terror attack convict Ajmal Kasab in the high seas of "Karachi", revealed a new book "Fragile Frontiers: The Secret History of Mumbai Terror Attacks".

The sea training, as per the book written by historian Saroj Kumar Rath, also included "how to fish", something that made Kasab think that "he had got a job and he could earn a respectable living".

"He (Kasab) was not informed by the LeT why he was being prepared as a mariner and as a fishermen," quoted the book from what Kasab told during his interrogation.

According to the book, fearing a leak, the sea route assault plan was kept secret by the top LeT commanders -- Hafiz Saeed, Zaki-ur Rehman Lakhvi, Abu Hamza and others -- until November 2008.

It also said that before the D-day, the LeT tried to send attackers to Mumbai twice, but "failed on both occasions".

"In September 2008, the boat carrying terrorists hit a rock in the sea and the attackers almost drowned before their handlers rescued them. The other failed attempt was on 7 November 2008, when an alarmed captain of an Indian boat refused to surrender to the LeT and fled," it added.

The book, in one of its essay titled 'Ajmal Kasab: The LeT side of the story', recorded that the 2-year training of the recruits for the 26/11 attacks was a "joint responsibility of the LeT and the ISI".

"Each terrorist had to undergo a series of training and indoctrination sessions organized by the LeT. All the 10 terrorists recruited for the Mumbai attacks had received four stages of training and after that, received sea training as well," read the book.

As part of the sea training the recruits were taught how to read maps, how to measure the depth of the sea, how to use GPS for the sea route, how to use the nets of fishermen and how to operate a ship.

"They were also trained on how to use a fisherman's net just to mislead the Indian navy personnel in case of an enquiry."

Also, other than the sea training, the four stage training received by the ten terrorists under the LeT command was: Daura-e-Sufa (20 Days' Preliminary Training), Daura-e-Ama (21 Days' Combat Course), Daura-e-Khaas (75 Days' Advanced Combat Course), Daura-e-Ribat (30 Days' Training on Intelligence Agencies).

"Kasab received (Daura-e-Khaas) training during May-July 2008. Skills like how to open and close Kalashnikovs, firing of a gun... and how to survive 60 hours without food and still climb a mountain with a heavy load were taught.

"The Mumbai attacks continued for 62 hours and crossing the LoC in Kashmir would take 60 hours as well," it said.

Besides delving into the interrogation and confession report of Kasab, the book, also tried to answer significant questions like "Why do young boys like Kasab become terrorists in Pakistan? What is the root cause of terrorism? Or what motivates them to follow a violent lifestyle?".

Kasab, the lone terrorist captured alive after the 26/11 Mumbai attacks, was hanged at Yerawada jail in Pune on November 21, 2012 after the then-president Pranab Mukherjee rejected his mercy petition.

Published by Routledge India, "Fragile Frontiers: The Secret History of Mumbai Terror Attacks", priced at Rs 995, other than offering a lucid and graphic account of the ill-fated day also traces the changing dynamics of terror in South Asia.

Source: https:// www.moneycontrol.com/news/trends/current-affairs-trends/definition-of-kilogram-changed-after-130-years-3192901.html 

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MCX SUPPORT & RESISTANCE LEVEL By TradeIndia Research Date 14-Nov-2018.

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL



GOLD DEC FUTURE

R2–30900
R1-30800
S1-31600
S2-30500






SILVER DEC FUTURE

R2 –36600
R1- 36400
S1-36000
S2-35800




CRUDE OIL NOV FUTURE

R2 –4060
R1-4030
S1-3970
S2-3950




COPPER NOV FUTURE

R2 –433
R1-430.50
S1-425.50
S2-423

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MCX SUPPORT & RESISTANCE LEVEL By TradeIndia Research

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MCX SUPPORT & RESISTANCE LEVEL



GOLD DEC FUTURE

R2–32000
R1-31900
S1-31700
S2-31600






SILVER DEC FUTURE

R2 –39000
R1- 38800
S1-38400
S2-38200



CRUDE OIL NOV FUTURE

R2 –4710
R1-4680
S1-4620
S2-4590



COPPER NOV FUTURE

R2 –442
R1-439.50
S1-434.50
S2-431

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Stocks in the news: Tata Motors, L&T, Canara Bank, Vedanta, HEG, Syndicate Bank, Va Tech Wabag

Kalpataru Power Transmission | United Spirits | KEI Industries | HDFC | Marico | Bosch and Indowind Energy are stocks which are in the news today.

Results on Thursday: HDFC, Marico, HPCL, DLF, eClerx Services, Johnson Controls, SH Kelkar, Oriental Carbon, MAS Financial Services, Mahindra Logistics, Dishman Carbogen Amcis, Intense Technologies, Advanced Enzyme Technologies, Garware Technical Fibres, Laurus Labs, Adlabs Entertainment, Fairchem Speciality, Reliance Home Finance, Apollo Micro Systems, KIOCL,

Results on Thursday: Marathon Nextgen Realty, Parag Milk Foods, MEP Infrastructure, Ganges Securities, Avadh Sugar, Dhunseri Petrochem, IIFL Holdings, Thomas Cook, Sarla Performance Fibers, Zenith Birla (India), Welspun Investments, Berger Paints, Alkyl Amines Chemicals, Aarti Industries, Maharashtra Seamless, Vimal Oil & Foods, Zuari Agro Chemicals, Zuari Global,

Results on Thursday: Shekhawati Poly-Yarn, Trent, Sundaram Finance, Somany Ceramics, Selan Exploration Technology, Zodiac JRD- MKJ, Cera Sanitaryware, Essel Propack, GlaxoSmithKline Consumer Healthcare, GeeCee Ventures, Hikal, Amrutanjan Health Care, Vesuvius India, Triveni Turbine, Welspun Corp, Next Mediaworks, Orient Green Power Company, Firstsource Solutions, India Glycols,

Results on Thursday: Greaves Cotton, Godrej Properties, Gujarat Narmada Valley Fertilizers, Clariant Chemicals, Elecon Engineering, Tata Communications, Grindwell Norton, Ador Welding, Dwarikesh Sugar, VST Industries, Voltamp Transformers, Morepen Laboratories, Paramount Communications, Huhtamaki PPL, Jindal Drilling, Gujarat Industries Power, Amber Enterprises India,

Results on Thursday: Arvind, Tanla Solutions, Hindustan Construction Company, Apar Industries, Taj GVK Hotels, Ramgopal Polytex, Gujarat Lease Financing, Apcotex Industries, SRF, Lyka Labs, ICRA, Bajaj Electricals, Hinduja Ventures, Century Enka.

L&T Q2: Consolidated profit climbs over 22 percent to Rs 2,230 crore versus Rs 1,820 crore; revenue jumps 21.3 percent to Rs 32,080 crore versus Rs 26,446.8 crore; EBITDA surges 27 percent to Rs 3,770.5 crore versus Rs 2,962.2 crore; margin expands to 11.8 percent versus 11.2 percent YoY.

L&T Guidance: Company expects 10-12 percent growth in order inflow, 12-15 percent in revenue in FY19.

Tata Motors Q2: Consolidated loss at Rs 1,048.8 crore versus profit at Rs 2,482.8 crore; revenue rises 2.5 percent to Rs 72,112 crore versus Rs 70,373.4 crore; EBITDA falls 28 percent to Rs 6,257.6 crore versus Rs 8,692.5 crore and margin contracts to 8.7 percent versus 12.4 percent YoY.

JLR Q2: Revenue down 11 percent to 5,635 million pound YoY, loss at 101 million pound. Cuts capex in FY19 & FY20 by 500 million pound to 4 billion pound.

Vedanta Q2: Consolidated profit plunges 39 percent to Rs 1,900 crore versus Rs 2,915 crore; revenue rises 5.2 percent to Rs 22,705 crore versus Rs 21,590 crore; EBITDA drops 8 percent to Rs 5,208 crore versus Rs 5,670 crore; margin contracts to 22.9 percent versus 26.3 percent YoY.

Canara Bank Q2: Profit rises to Rs 299.5 crore versus Rs 260.18 crore; net interest income increases to Rs 3,281.3 crore versus Rs 2,783.4 crore YoY; gross NPA improves to 10.56 percent against 11.05 percent and net NPA to 6.54 percent against 6.91 percent QoQ.

Adani Power Q2: Consolidated profit jumps 22 percent to Rs 387 crore versus Rs 317 crore; revenue rises 16.6 percent to Rs 7,181.5 crore versus Rs 6,159.1 crore; EBITDA increases 9.7 percent to Rs 2,330.3 crore versus Rs 2,124.8 crore; margin at 32.45 percent versus 34.5 percent YoY.

KEI Industries Q2: Profit rises to Rs 41.4 crore versus Rs 28.5 crore; revenue jumps to Rs 996.8 crore versus Rs 753.8 crore YoY.

Matrimony.com Q2: Consolidated profit falls to Rs 13.35 crore versus Rs 19.16 crore; revenue rises to Rs 87.6 crore versus Rs 83.6 crore YoY.

Narayana Hrudayalaya Q2: Consolidated profit declines to Rs 13.6 crore versus Rs 16.5 crore; revenue increases to Rs 711.3 crore versus Rs 559.2 crore YoY.

Indostar Capital Finance Q2: Consolidated profit slips to Rs 64 crore versus Rs 69.5 crore; revenue jumps to Rs 319.8 crore versus Rs 199.5 crore YoY.

Ganesha Ecosphere Q2: Profit jumps to Rs 13.50 crore versus Rs 7.3 crore; revenue surges to Rs 262.5 crore versus Rs 168.7 crore YoY.

Shreyas Shipping & Logistics Q2: Profit declines to Rs 5.14 crore versus Rs 19.70 crore; revenue rises to Rs 156.43 crore versus Rs 123.5 crore YoY.

Navneet Education Q2: Profit falls to Rs 29 crore versus Rs 126.3 crore; revenue declines to Rs 263.5 crore versus Rs 670 crore YoY.

Minda Corporation Q2: Consolidated profit rises to Rs 44.6 crore versus Rs 42 crore; revenue increases to Rs 773.3 crore versus Rs 655 crore YoY.

Gandhi Special Tubes Q2: Profit increases to Rs 10 crore versus Rs 8.7 crore; revenue rises to Rs 33.6 crore versus Rs 29.8 crore YoY.

United Spirits Q2: Profit jumps to Rs 258.7 crore versus Rs 153.1 crore; revenue spikes to Rs 7,128 crore versus Rs 6,214.6 crore YoY.

Future Lifestyle Fashions Q2: Profit rises to Rs 25.5 crore versus Rs 23.4 crore; revenue jumps to Rs 1,222.4 crore versus Rs 1,021.7 crore YoY.

Kalpataru Power Transmission Q2: Profit surges to Rs 91.4 crore versus Rs 71.5 crore; revenue rises to Rs 1,574 crore versus Rs 1,222.8 crore YoY.

Honeywell Automation Q2: Profit climbs to Rs 97.4 crore versus Rs 73.73 crore; revenue rises to Rs 782.3 crore versus Rs 673.2 crore YoY.

LG Balakrishnan Q2: Profit rises to Rs 28 crore versus Rs 23.66 crore; revenue increases to Rs 427 crore versus Rs 350.7 crore YoY.

Balaji Amines Q2: Profit soars to Rs 31 crore versus Rs 29.2 crore; revenue rises to Rs 216.5 crore versus Rs 201.2 crore YoY.

Schneider Electric Infrastructure Q2: Loss at Rs 27.2 crore versus loss at Rs 10.92 crore; revenue rises to Rs 319 crore versus Rs 269.7 crore YoY.

Castrol India Q2: Profit falls to Rs 150.4 crore versus Rs 178.2 crore; revenue rises to Rs 926.9 crore versus Rs 861.4 crore YoY.

Syndicate Bank Q2: Loss at Rs 1,542.5 crore versus profit of Rs 105.24 crore; net interest income falls to Rs 1,572.3 crore versus Rs 1,649.5 crore YoY; gross NPA at 12.98 percent versus 12.59 percent; net NPA at 6.83 percent versus 6.64 percent QoQ.

Adani Green Energy Q2: Loss at Rs 186.9 crore versus loss of Rs 26.87 crore; revenue jumps to Rs 448.6 crore versus Rs 167.68 crore YoY.

Jagran Prakashan Q2: Profit declines to Rs 44.9 crore versus Rs 72.2 crore; revenue slips to Rs 553.4 crore versus Rs 566.5 crore YoY.

Dhampur Sugar Mills Q2: Profit drops to Rs 28.4 crore versus Rs 36.15 crore; revenue declines to Rs 532.8 crore versus Rs 802 crore YoY.

Blue Dart Express Q2: Profit falls to Rs 21.3 crore versus Rs 41.4 crore; revenue rises to Rs 798 crore versus Rs 703 crore YoY.

Jayaswal Neco Q2: Loss at Rs 86.23 crore versus loss of Rs 70.37 crore; revenue rises to Rs 1,166.5 crore versus Rs 832.44 crore YoY.

HEG Q2: Profit jumps multi-fold to Rs 888.9 crore versus Rs 113.66 crore; revenue surges to Rs 1,794 crore versus Rs 409.5 crore YoY.

Emkay Global Q2: Profit declines to Rs 4.34 crore versus Rs 6.25 crore; revenue rises to Rs 38.3 crore versus Rs 36.15 crore YoY.

Tribhovandas Bhimji Zaveri Q2: Profit rises to Rs 1.7 crore versus Rs 0.8 crore; revenue increases to Rs 346 crore versus Rs 326 crore YoY.

Coal India OFS: Non-retail portion oversubscribed 106 percent; 3.96 crore shares to be available as part of OFS on November 1 for retail investors.

IL&FS Transportation Networks and IL&FS Engineering: IL&FS Group submitted report on progress & the way forward to NCLT. Resolutions can involve capital infusion, divestment & debt recast. Board expects to complete resolution process in stages over next 6-9 months.

Shriram EPC: Company bags an order worth Rs 236 crore from Drinking Water & Sanitation Department, Government of Jharkhand.

JSW Energy: CARE upgraded the ratings on the long term bank facilities of subsidiary Raj WestPower Limited to AA - / Stable from A+ / Stable.

United Bank of India: Board approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares.

Eros International Media: Company in association with Mythri Movie Makers will release the much awaited, mystical thriller 'Savyasachi'.

GHCL: India Ratings & Research assigned company a long term issuer rating of A1+ with outlook stable, for issuance of proposed Non-convertible debenture (NCO) of Rs 300 crore, which shall be utilized for the purpose of refinancing of the existing debt, meeting long term working capital requirements and funding other purpose in the normal course of business of the company.

Motherson Sumi Systems: CRISIL upgraded long term rating of the company to AA+/Stable from AA/Positive and reaffirmed short term rating to A1+.

Eicher Motors: Due to the strike, the loss of production for the month of September and October 2018, is 25,000 motorcycles.

Karnataka Bank: Bank revises its MCLR and reduces interest rates on its retail schemes.

Va Tech Wabag secures Rs 1,000 crore worth order in the Middle East

Bulk Deals

Marine Electrical: Vora Pravin Pritesh sold 2,12,000 shares of the company at Rs 80.62 per share on the NSE.

Strides Pharma Science: MSD India Fund sold 8 lakh shares of the company at Rs 412.01 per share on the NSE.

Analyst or Board Meet/Briefings

Bhansali Engineering Polymers: Company's officials will be meeting Equipoise Investment Fund and 801 AXA Mutual Fund on November 1.

Majestic Research Services and Solutions: Board meeting is scheduled on November 14 to consider financial results of the company for the quarter and half year ended on September 2018.

Cerebra Integrated Technologies: Board meeting is scheduled on November 10 to consider financial results of the company for the quarter and half year ended on September 2018.

Kernex Microsystems: Board meeting is scheduled on November 10 to consider financial results of the company for the quarter and half year ended on September 2018.

Swelect Energy Systems: Board meeting is scheduled on November 12 to consider financial results of the company for the quarter and half year ended on September 2018.

Dredging Corporation: Board meeting is scheduled on November 12 to consider financial results of the company for the quarter and half year ended on September 2018.

Polyplex Corporation: Board meeting is scheduled on November 14 to consider financial results of the company for the quarter and half year ended on September 2018.

Hotel Leelaventure: Board meeting is scheduled on November 12 to consider financial results of the company for the quarter and half year ended on September 2018.

NESCO: Board meeting is scheduled on November 13 to consider financial results of the company for the quarter and half year ended on September 2018.

DHFL: Board meeting is scheduled on November 21 to consider financial results of the company for the quarter and half year ended on September 2018.

MRF: Board meeting is scheduled on November 8 to consider financial results of the company for the quarter and half year ended on September 2018.

Satin Creditcare Network: Board meeting is scheduled on November 14 to consider financial results of the company for the quarter and half year ended on September 2018; and issuance of non-convertible debenture for upto INR equivalent of $30 million through private placement.

Mahindra Holidays: Company's officials will be meeting DHFL Pramerica Mutual Fund on November 2.

TCS: Company's officials will be participating in Morgan Stanley Seventeen Annual Asia Pacific Summit in Singapore on November 28.

Tube Investments: Conference call for analysts and investors is scheduled on November 5.

Can Fin Homes: Analyst/institutional investors meeting is arranged by Investec Capital Services (India) with S K Hota, Managing Director and Atanu Bagchi, CFO of the company on November 1.

City Union Bank: Bank will be participating in a conference call organised by Ambit Capital on November 2.

Bosch: Board meeting is scheduled to be held on November 5 to consider unaudited financial results for the second quarter and half year ended September 2018, and also the proposal for buyback of the equity shares of the company.

Indowind Energy: Board meeting is scheduled to be held on November 8 to consider unaudited financial results for the second quarter and half year ended September 2018, and also the proposal for buyback of the equity shares of the company.

Source:  https://www.moneycontrol.com/news/business/stocks/stocks-in-the-news-tata-motors-lt-canara-bank-vedanta-heg-syndicate-bank-va-tech-wabag-3113931.html

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MCX SUPPORT & RESISTANCE LEVEL

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL



GOLD DEC FUTURE

R2–32100
R1-32000
S1-31800
S2-31700






SILVER DEC FUTURE

R2 –38750
R1- 38550
S1-38150
S2-37950


CRUDE OIL NOV FUTURE

R2 –4980
R1-4950
S1-4900
S2-4870



COPPER NOV FUTURE

R2 –443
R1-440.50
S1-435.50
S2-433

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MCX SUPPORT & RESISTANCE LEVEL Update By TradeIndia Research Date 30/10/2018

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL


GOLD DEC FUTURE

R2–32100
R1-32000
S1-31800
S2-31700





SILVER DEC FUTURE

R2 –38800
R1- 38800
S1-38200
S2-38000


CRUDE OIL NOV FUTURE

R2 –5020
R1-4980
S1-4920
S2-4890



COPPER NOV FUTURE

R2 –450
R1-447.50
S1-441.50
S2-439

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Fund managers bought 310 beaten-down stocks in Q2; time to go bottom fishing?

Most analysts say investors should consider buying beaten-down stocks, but with a time horizon of 1-2 years.

Benchmark indices have fallen more than 10 percent from their highs, and for the year, Indian market has turned negative but the big carnage has been seen in individual stocks. Most fund managers are using the opportunity to buy quality stocks.

For the quarter ended September, fund managers increased their stake in as many as 310 stocks which have a market capitalisation of more than Rs 1,000 crore and have fallen up to 70 percent so far in 2018.

Stocks in which they raised stake include Manpasand Beverages, Infibeam Avenues, Simplex Infrastructure, IIFL Holdings, JM Financial, Navkar Corporation, Indian Bank, Symphony, Kajaria Ceramics, Dilip Buildcon, Greenply Industries.

Most analysts agree that investors should look at the beaten-down stocks for their portfolio but the time horizon should now be 1-2 years. Picking the right stock will be more important because not every stock will qualify as a sound investment.

While it may be difficult to call a bottom, for those investing with a one-year horizon or longer, it is a good time for bottom fishing. Looking for beaten-down stocks is a good starting point, but ultimately a stock-buying decision has to be based on valuation vs fundamentals.

In general, we believe that in aggregate, the buys made during this period should deliver good returns over a one to the two-year horizon.

Asset base of mutual funds rose to over Rs 24 lakh crore in the July-September quarter, a 14 percent surge from the year-ago period, despite sell off seen in equity market. The S&P BSE Sensex slipped more than 2,000 points in September and a similar downfall is expected by the end of October.

The asset base of the industry, comprising 41 players, was Rs 23.4 lakh crore in the preceding three months, showing a growth of just 2.5 percent on a quarterly basis, according to the data by Association of Mutual Funds in India (AMFzi).

However, tracking weakness in equity market, MF AUM dipped slightly in September but equity funds continued to see inflows. Liquid or money market funds saw outflows to the tune of Rs 2.11 lakh crore in September as compared to inflows of Rs 1.71 lakh crore in August.

Despite market volatility and the credit event, inflows of Rs 11,172 crore in equity funds is very encouraging. It looks like fund managers are using the opportunity to increase allocation towards quality stocks.

Equity markets are very volatile due lot of internal and external factors and in such a volatile environment it is not easy to stick to the same strategy. We as a fund house are very selective in terms of picking sectors and avoiding certain sectors.

So it is better to look fundamentally strong & growing companies, where you want to invest rather than taking a call on the overall market,” he said.

Sticking to quality, fund managers reduced their stake in as many as 270 companies which have fallen up to 80 percent in 2018 which include names like PC Jeweller, Jet Airways, SREI Infra, HCC, BEML, Dewan Housing, Syndicate Bank, Tata Motors, Motilal Oswal, Apex Frozen, Union Bank of India, Bank of India, Avanti Feeds, The South India Bank.

Mutual Funds have been getting consistent flows on a monthly basis despite steep correction in September and October. But, experts fear that if the selling pressure continues, the SIP flows might get impacted.

The SIP flows may start getting impacted if the markets continue to remain depressed. Generally, small investors do not have the appetite to see negative returns. If the market corrections are fast and quick, the investors continue to stay in the markets because they do not fully feel the impact of those corrections

But, if you look at the current markets, the weakness is continuing for the better part of this year. There are no immediate triggers for the markets to bounce back. In such scenario, the fresh SIP creation would slow down and then some of the investors could also stop their SIPs.

Source: https://www.moneycontrol.com/news/business/markets/fund-managers-bought-310-beaten-down-stocks-in-q2-time-to-go-bottom-fishing-3096891.html

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Rupee fall brings back IT, pharma sectors in favour for mutual funds

The rupee has fallen over 15 percent against the dollar so far this year

A sharp slide in rupee has prompted mutual fund managers to bet on export-oriented sectors such as information technology and pharmaceuticals.

The rupee has fallen over 15 percent against the dollar so far this year and is currently trading at 73.43 against the dollar. The currency is down 8.3 percent year on year, which means the depreciation is at a five-year high.

Krishna Sanghavi, head-equities, Canara Robeco Mutual Fund believes companies in export-oriented sectors will benefit from the rupee's depreciation. “We are positive on IT and pharma because of improving business outlook and benefits of rupee depreciation," he says.

Echoing Sanghavi’s view, LIC Mutual Fund’s Chief Investment Officer Sarvana Kumar says, “Pharma and IT companies are likely to report better earnings and an improvement in their profit margins.”

LIC Mutual Fund is sitting on a lot of cash in its equity funds as it feels the upcoming five state assembly elections have given rise to some measure of uncertainty in the market. It is now gradually deploying its cash, taking into account stock valuations and growth, Kumar said.

Fund managers said IT companies having a large exposure to the US will benefit the most, while pharma companies will benefit as exports account for more than 50 percent of their revenues.

Going forward, hedging strategies will be a deciding factor for these companies to make profits on a falling rupee.

ICRA expects the domestic IT services sector to register a compounded annual growth rate of 9-12 percent from 2018 to 2021.

According to the rating agency, there were early signs of improvement in demand for the sector.

Also, given that that the trade deficit and the current account deficit or CAD are rising, the rupee's weakness is beneficial.

The trade deficit hit $157 billion in 2017-18, while the CAD rose to 1.9 percent of the gross domestic product or GDP.

India's third and fourth largest information technology firms reported results this week, and both seem to be recovering from client-specific issues that are slowing growth.

While HCL Technologies reported second-quarter results above analyst estimates, helped by growth across verticals. The Noida-based company's rupee revenue was up 7.1 percent at Rs 14,861 crore, while constant currency growth was 3 percent during the quarter.

On the other hand, Wipro’s IT services revenues rose 5 percent to Rs 14,377.3 crore, 2.8 percent after adjusting for a strong dollar.

Source: https://www.moneycontrol.com/news/business/mutual-funds/mf-wrap-rupee-fall-brings-back-it-pharma-sectors-in-favour-for-mutual-funds-3092981.html

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