US GDP data beats the forecast and this shows the global economic recovery on speedy phase...
Global Market Update:-
U.S. stocks rallied on Thursday on news the U.S. economy expanded at a faster clip in the third quarter than investors were expecting.
At the close of U.S. trading, the Dow rose 1.01%, the S&P index rose 0.62%, while the NASDAQ index rose 0.37%.
The Commerce Department reported earlier that the U.S. gross domestic product grew at an annual rate of 3.5% in the three months to September, beating forecast for 3% growth.
While the report stoked expectations that the Federal Reserve remains set to hike interest rates in 2015, stocks rose on sentiments that business will be on the rise next year despite rising borrowing costs.On Wednesday, the Federal Reserve said it was ending its monthly bond-buying program due to improvements taking place in the labor market.
European indices, meanwhile, ended the day higher.After the close of European trade, the France's CAC rose 0.74%, while Germany's DAX rose 0.35%. Meanwhile, in the U.K. the FTSE rose 0.15%.
Indian Market Update:-
Cheers in the Indian Markets after the FOMC outcome, Markets hits all time highs on the Expiry day is a good Indication for the November series.
However, Today's close signals the strong start to November series, but could witness in some profit taking on the cards ahead of the week end. Technically now the markets confirms it will be buy on dips markets for the month of November and December for the Markets.
Any shallow correction of 1-2% should be strongly bought. All the momentum indicators on the technical charts also signals the bullish signals going forward.
As for as Today’s markets are concerned, Markets to open at a new mile stone and to keep its momentum up on the upside. But second half or last hour could witness in profit taking ahead of the week end.
Strong support for Nifty is coming at 8000 levels and resistance above 8300 in the short term.
Recommendation: BUY EMAMILTD
Stop loss: 750
Time duration: 2 Weeks
The stock is in a clear uptrend and now after a shallow correction has given a close above all time highs with a hammer candle stick. Stock is also making a higher top higher bottom pattern could take the stocks to fresh highs.
Recommendation: BUY CENTURYTEX
Stop loss: 500
Time duration: 2 WEEKS
Stock has given a strong breakout above the trend line making higher top and higher bottom with bullish engulfing pattern on the candle stick with high volumes on the daily chart and stock has also given the triangular pattern breakout should take the stock to its previous highs.
Nifty to trade positive but profit booking can be seen in the last hour ahead of week end....
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