It was a M&A story of Kotak Bank coupled with China and Europe story fuelled the Indian markets to close again at the record highs...
Global Market Update:-
China's move to loosen monetary policy coupled with the European Central Bank's hints at taking similar steps to stimulate its economy sent U.S. stocks rising on Friday.
At the close of U.S. trading, the Dow rose 0.51%, the S&P 500 rose 0.52%, while the Nasdaq Composite rose 0.24%.
Stocks rose after ECB President Mario Draghi reiterated on Friday that the central bank is prepared to act rapidly if low inflation persists.Draghi also expressed concerns over the euro zone's weak growth, pointing out he saw no improvements in the coming months.
The ECB head was speaking at the 24th European Banking Congress "Reshaping Europe," in Frankfurt, and his comments sparked expectations for fresh stimulus.
The ECB's current stimulus program includes purchases of asset-backed securities and covered bonds, though markets are keeping a close eye out for plans to announce purchases of government debt, a stimulus tool known as quantitative easing that sends stocks rising as a side effect.
Indian Market Update:-
The last day of the trading brings the shine on the Dalal street which gives the huge thumbs up to the most talked Kotak Bank acquiring the ING-Vysya Bank deal close at the much lower value for the Kotak bank. As per the expectation it was a Rs.16,500 crore deal, But all is well for Kotak which closed the deal for Rs.15,000 crore which was fairly valued for both companies.Following, Banks lifted the Dalal street on week end trade with both Bench mark indices hitting and closing above all time highs.
Though Friday's close on the market shows, the markets to open on a higher note on Monday morning. There should be a correction as the open interest data shows the lack of interest buying above 8500 on Nifty. We expect the correction should be till the 8300 zone in coming weeks from where we can intiate fresh buys to see Nifty 8700 by the end December.
Recommendation: BUY ALSTOMT&D
Stop loss: 400
Time duration: 2 WEEKS
Stock is moving in a upward channel and in the last trading session gives the all time closing highs with hitting all time highs on the chart and has given a fresh signals of buying has it has also have given a bullish harami pattern on the daily charts.
Recommendation: BUY HEROMOTOCO
Stop loss: 2980
Time duration: 2 Weeks
The counter after the hefty correction till 61.8% of the Fibonacci retracement level stock has taken a reversal pattern forming a higher top higher bottom pattern with giving a bullish harami pattern on the daily charts with the breaking of triangular pattern breakout on daily charts
Markets to open higher But be cautious Markets enters the Danger zone don’t struck yourself...
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