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Morning Brief | 24th Jan.2020 | Stock market news

Morning Brief | 24th Jan.2020

Benchmark Index Nifty expected to open on flat nodes as SGX Nifty trading at 12190 (-10) in early morning around (08:50 AM), Nifty support levels at 12120/12050 and resistance levels at 12230/12250. Bearish mood will activate only below 12050 and it can accelerate towards 11900 marks. Market remains highly volatile. Advise to keep maintain strict stop loss for any position.

Bank Nifty Support at 30900-30800 and Resistance at 31150- 31300. Bearish mode will activate only below 30800 and can accelerate towards 30200 marks. Events GERMANY Manufacturing PMI (14:00 IST), UK COMPOSIT PMI, Manufacturing PMI, Service PMI (15:00 IST).

Major Currency Pair – USDINR (71.24), EURINR (78.96), GBPINR (93.48), JYPINR 100 (65.05).

World Markets - DOW Jones 29160.09 (-26.18), NASDAQ 9402.48 (+18.71), DAX 13388.42 (-127.33), FTSE 7507.67 (-64.25) CAC 5971.79 (-39.18).

Derivative Position (Open Interest wise)

Long Build-up OIL (+14.22%), NIITTECH (+12.82%),A ANIPOWER (+11.90%).

Short Covering - LT (-8.59%), NBCC (-7.40%), HAVELLS (-6.86%).

Short Build-up POWERGRID (+87.39%), NMDC (+40.49%), COALINDIA (+17.06%).

Long Unwinding – PVR (-7.53%), RBLBANK (-6.43%), MINDTREE (-3.07%).

Sensex Support at 41200-41100 and resistance at 41550-41700. Bearish mode will activate only below 41100 and can accelerate towards 40500 marks.

Market Statistics

Yesterday Trading Activity In Thursday's trade, foreign institutional investors (Fils) bought worth 1352 Crore compared to domestic institutional investors who sold share worth 985 crore in Indian equity market.

Securities in Ban period - YESBANK.

Results AAVAS, ATUL, BANKBARODA, INDIANB, JSWSTEEL, PRESTIGE, SUPREMEIND, ULTRACEMCO, WENDT.

Stock in Action
Bullish - IOC, GAIL, LT.
Bearish - ZEEL, UPL, CIPLA

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