Domestic Market View
Nifty closed by 250 points Yesterday Because there was no clarification on Surcharge on some FPI Parties, like AIF-3 FPI Participants, their Tax increased to 42%, and that’s there was panic in market yesterday. After Market ends Nirmala Sitharaman did press conference and said there is no need of any clarification in this matter, But she also said if still any News or clarification from govt. side then I will Update in Budget session which is going in Parliament. This kind of Increase in Surcharge will be Negative for FPI.
FII sold shares worth Rs 401 Crore, DII Bought Shares worth Rs 321 Crore. VIX at 13.85
Nifty If it goes below Yesterday Low that is 11523 then expect 80-100 points sell off. Nifty was down 250-280 points but FII selling numbers were not soo confident, they are just waiting for some clarification, if there is no clarification then expect heavy delivery based selling by FII.
Nifty trying to fill the gap created by Exit polls rally. Support 11523-475, Resistance 11630-670, It’s a Sell on Rise Market. Market will be in consolidation range of 11630-11470.
Global Market View
US Index closed .4-.7% Down, Brent &64.20, Gold at $1400, Asian Peers were down heavily due to extradition tension in Hong Kong.
Stocks in News
- Tea Board of India is planning to set a floor price for the sale of tea at auctions. MSP is at Rs 60 Per Kilo for south Indian and Rs 90 for North Indian Tea companies.
- Titan : Profit and Growth to get hit due to “tough macro-economic environment with consumption being hit” Warning by Company. Link
- TCS : To report Quarter Result today by 5 PM.
- Sovereign Gold Bond Scheme 2019-20 – Series 2 open for Subscription.
- Gail : Adjustment of Bonus 1:1, Stock will go down by 50%. Bonus shares you will get in 2-3 weeks. Link
- Mindtree : It will be a separate entity of Larsen & Toubro. Earlier People expect it to merge with IT entity of L&T, but they issued a notice that no merger will be there.
Change in Circuit Limits
| Sr. No. | Scrip Code | Scrip Name | Price Band % Revised to |
| 1 | 532915 | Religare Enterprises Ltd | 10 |
| 2 | 534691 | Comfort Commotrade Ltd | 10 |
| 3 | 532647 | Provogue (India) Ltd | 5 |
| 4 | 512093 | Cranes Software International Ltd | 5 |
| 5 | 532951 | GSS Infotech Ltd | 5 |
| 6 | 540923 | Ashoka Metcast Ltd | 5 |
| 7 | 517380 | Igarashi Motors India Ltd | 5 |
| 8 | 517399 | VXL Instruments Ltd | 2 |
| 9 | 539515 | Gaurav Mercantiles Ltd | 2 |
Stocks for Buying
Yesterday One Stock Was Alerted for Buying “Buy Abbot India at Rs 8620 for Target of 9640 stop loss of 7600” Holding period 2-5 Months, Slow mover but long term good to hold.
One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
8:00 AM : SGX Nifty 15 points down, Asian peers down, Hangsheng, China, Topix all three down .5-.7%. Brent down by .40 cents to $63.80. Gold at $1395.
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