A breakout on either side of the band will give a clear indication of the further trend

The Nifty witnessed a V-shaped reversal rally but the gains were capped at 11,150 levels on August 28. On the lower side, as per the change of polarity principle, the short-term moving average -- 20-day EMA -- for the index is currently working as a key reversal point.

Last hour buying on August 28 pushed the price above its important physiological mark of 11,000, which has squeezed the body of the candle with a slightly longer wick on its lower side.

The level of 11,150 is further supported by the Fibonacci ratio on the daily interval for the benchmark index. Currently, the Nifty pack is trading between its 50 (11,200) and 100-EMA (10,800) band on the weekly timeline.

On the Options front, maximum Put open interest (OI) is placed at 11,000 strike. The maximum change in Call OI is seen at 11,100, followed by 11,200 strikes.

The next immediate support for the Nifty is placed at 10,800 levels, while resistance is observed at 11,200 levels. Now, a breakout on either side of the band will give a clear indication of the further trend.

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Investors should have been overjoyed when Future Retail Ltd finally announced its deal with Amazon. For many months now, news reports were abuzz about the company’s deal with the American e-commerce behemoth

Yet, when Future Retail said that Amazon will buy 49% in Future Coupons Ltd, which holds Future Retail warrants amounting to about 7.3% stake on conversion, the Future Retail stock declined by 4.6% on the National Stock Exchange.

This is when, according to news reports and analysts, the transaction is said to have taken place at a significant premium to the warrant issue price of ₹505. Future Retail’s press release offers no insight on the deal value.

“We arrive at an implied acquisition price of ₹773, a 53.2% premium to the warrant conversion price," said analysts from Edelweiss Securities Ltd in a report on 23 August.

This assumes that the balance ₹1,500 crore needed from Future Coupons to buy the warrants is the same amount that Amazon would have invested as part of the current deal. Note that the warrants were issued to Future Coupons at ₹2,000 crore, out of which it has already invested ₹500 crore.

If the deal with Amazon has been clocked at a premium then what can possibly explain the stock price reaction? According to Himanshu Nayyar, analyst, Systematix Shares and Stocks (India) Ltd, even as the deal is positive, the quantum of the stake at 3.6% in Future Retail is low. “We were looking at Amazon buying a 10% stake in Future Retail. A higher stake would have perhaps assured more commitment from Amazon," added Nayyar.

Still, Amazon has a call option where it can acquire all or part of the promoters' shareholding in Future Retail between 3-10 years, “in certain circumstances, subject to applicable law."

“We perceive Future Retail’s pact with Amazon as a prudent move in the current retail ecosystem. Risk, however, emanates from regulatory changes which may derail deal contours as well as Reliance Retail’s aggression," point out Edelweiss analysts.

Vishnu Vardhan Reddy, senior research analyst at Euromonitor International, “The development will help Amazon in giving a boost to its online grocery retail segment, which has been its focus recently."

The packaged food & drinks online retail segment is expected to be one of the fastest-growing segments in India and is expected to grow 40% CAGR in 2018-23, as per Euromonitor International.

“Since perishable items are at stake, Future Retail’s stores will help Amazon speed up its delivery timings to the consumer," added Reddy. On the other hand, Future Group can tap into Amazon’s online expertise with this deal.

As such, the deal reinforces Amazon’s confidence in the vast potential of the Indian retail market.

Including Friday’s fall, Future Retail shares have declined by 13% so far this financial year. Notwithstanding the benefits from the Amazon deal, the consumption slowdown in the economy should keep valuations in check from a near-term perspective.

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Technology major Siemens will upgrade Hindustan Zinc's power assets and manufacture six 80 MW steam turbines for the mining major

"Siemens will modernise and commission 80 MW steam turbines to Hindustan Zinc. The modernisation of the power assets of Hindustan Zinc includes state-of-the-art design steam turbine components and digital technologies. Siemens will also provide on-site project services on a turnkey basis," Siemens said in a statement here on Tuesday.

The turbines would be manufactured at Vadodara factory, it said.

Commenting on the development, V. Jayaraman, Head of Power Plants at Hindustan Zinc, said: "We are aiming at higher efficiencies of power generation from steam turbines along with higher generation. Further, the modular project execution will ensure lower outage. Operations will be more economical and using latest technologies help reduce carbon footprint, which is in sync with our group's philosophy."

Gerd Deusser, Head, Gas and Power, Siemens, said: "The upgraded 80 MW steam turbines is the best-in-industry and ensures high flexibility, reduces emissions and maintains high reliability. By leveraging our experiences and technological leadership, we will continue to provide highly efficient steam turbines to customers."

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It has touched a 52-week low of Rs 49

Shares of Mangalore Refinery and Petrochemicals (MRPL) declined 3 percent intraday on August 20 after the company closed its Phase-III process units of the refinery due to intensified monsoon.

It has touched its 52-week low of Rs 49.

The company in its press release said that the refinery has been affected by a minor landslide as an aftermath of the intensified monsoon in Dakshina Kannada District, hence as a precautionary measure, we have structured shutdown of the Phase-III process units of the refinery to access the condition of the facilities in the vicinity and for immediate stabilisation.

Mangalore Refinery and Petrochemicals were quoting at Rs 49.25, down Rs 1.50, or 2.96 percent on the BSE.

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The company said it plans to conduct a detailed forensic investigation to establish the accountability of wrongdoings

Shares of CG Power and Industrial Solutions were locked at 20 percent lower circuit intraday on August 20 after the company recognised irregularities in its financial statements. unauthorised transactions

The scrip has hit a new 52-week low of Rs 14.75.

The company in a regulatory filing on August 19 said that an internal probe has uncovered some irregularities in the financial statements of the company.

"While working on one of its priority tasks of seeking refinancing of certain facilities and as a part of conducting financial analysis in this regard, the Operations Committee was made aware of some unauthorised transactions by certain employees of the company," the BSE filing said.

An independent legal firm appointed by the board of directors to probe financial wrongdoings pointed out certain misrepresentation in financial statements of the company and unauthorized financial transactions.

The company plans to conduct a detailed forensic investigation to establish the accountability of wrongdoings and will take requisite legal actions to protect its interest.

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Edelweiss has a positive business outlook on Ujjivan Small Finance Bank (USFB) but said the listing of USFB will mean dilution & holding company discount for the existing shareholder

Shares of Ujjivan Financial Services fell nearly 8 percent intraday on August 19 after the company's decision to launch IPO of Ujjivan Small Finance Bank. Analysts feel the listing of the bank is negative for shareholders of a microfinance lender

The stock was quoting at Rs 272.55, down Rs 11.55, or 4.07 percent on the BSE.  

Ujjivan Small Finance Bank is planning an initial public offering to raise Rs 1,200 crore. The company on August 16 filed a draft red herring prospectus with SEBI.

"Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of the face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up to around Rs 1,200 crore," Ujjivan Financial Services said in its BSE filing on August 16.

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India's largest lender, the State Bank of India, on Sunday said that it is extending the repayment period for stressed automobile dealers by 15-30 days to help them out of current inventory builds-ups due to the slowdown in the sector and in the economy

"Normally, the repayment period is 60 days. So we extend it for 75 days for some dealers and to 90 days for a few others. We are talking to each dealer. We also had meetings with the Federation of Auto Dealers. We are actively engaged with all of them. 

"On a case to case basis, whichever dealer has faced any problem on account of excess inventories, we have been working out solutions for all of them," SBI's Managing Director, Retail & Digital Banking, P.K. Gupta said.

He also said the current slowdown would not create NPAs. 

The auto sector is the worst-hit sector in the current slowdown and apart from huge inventory build-up, the companies are resorting to production shutdowns to cope up with poor sales. 

"SBI is looking at extending the credit period for those auto dealers faced with inventory build-up due to poor demand. Our main focus is making available funds at cheaper cost for those retail customers keen on buying cars. We also fund the dealers when they buy cars from the manufacturer. However, for the aspect of the revival of demand, only the government can step in," Gupta said.

The bank has an exposure of Rs 11,500 crore to auto dealers.

Gupta said that at the moment, some automobile dealers are facing difficulty in repaying existing loans as per schedule. He was, however, hopeful that the festive season will boost auto sales.

"Our discussions with dealers' associations suggest that the festive season is going to start soon and then they will be able to clear most of the inventory and most of the accounts may not turn into NPAs. But it will all depend on what kind of demand revival takes place," he said.

The SBI on Sunday said in a statement that it conducted sessions with officials starting from the branch level to chalk out a roadmap for reviving credit. The rush for conducting these meetings is a result of a push from the Central government asking banks to come up with suggestions on the future of the industry.

It said the bank is trying to ensure availability of credit to car buyers, and low-interest rates and the current slowdown in the country's auto sector may not create non-performing assets for the banking sector. 

"I think it will be difficult to say at this point in time (whether there will be NPAs in the auto sector). We have seen some cases of dealers having an excess inventory, and we have been working out solutions for them," Gupta said.

Auto sales in July this year fell to a 20-year low, and at the current monthly average sales, total projected annual sales of passenger vehicles for 2019-20 may drop to yearly sales levels seen in 2014-15 and 2015-16.

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The Sensex gained 463.69 points to end at 37,581.91, while Nifty ended at 11,109.7, up 112.35 points last week

Indian markets ended on a positive note in the volatile week ended August 9 amid June quarter earnings, RBI monetary policy, and fresh concerns over Sino-US trade worries.

Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) reduced repo rates by another 35 basis points to 5.4 percent in the August Policy review while maintaining an accommodative stance. It now stands at the lowest level since April 2010.

The Sensex gained 463.69 points to end at 37,581.91, while Nifty ended at 11,109.7, up 112.35 points last week.

The S&P BSE Midcap index rose 1.26 percent, Smallcap Index added 1.10 percent and S&P BSE Largecap index was up 0.68 percent last week.

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The buying was seen across sectors and broader markets traded in line with benchmarks for the second straight day, largely driven by domestic factors.

After a steep fall followed by consolidation in the early part of the week, the market has broken on the upside with full force in later part, as bulls took complete charge of Dalal Street for the second consecutive day on August 9.

Buying has been seen across sectors and broader markets traded in line with benchmarks for the second straight day, largely driven by domestic factors.

The BSE Sensex rallied 254.55 points to 37,581.91, taking two-day gains to nearly 900 points. The Nifty50 climbed 77.20 points to close at 11,109.70.

The market breadth was also in favour of bulls as about two shares advanced for every share falling on the BSE. The Nifty Midcap and Smallcap indices gained 1 percent each.

The five factors driving the market high Optimism on FPI surcharge

Reports that the government could tweak or rollback the surcharge on super-rich has played a big part in the upswing. The controversial tax was one of the main reasons for the outflow of foreign institutional investor (FII) money since July.

Presenting the budget on July 5, Finance Minister Nirmala Sitharaman proposed an increased surcharge of 25 percent for individuals earning between Rs 2 crore to Rs 5 crore annual, and 37 percent for those with an income of for more than Rs 5 crore. It effectively increased the tax rate to 39 percent for those in the Rs 2 crore-5 crore bracket and 42.7 percent for those in the higher bracket.

Given that the Income Tax Act includes the association of persons/ body of the individual, trusts in the definition of an individual, the increased surcharge will also be applicable to a majority of the foreign portfolio investors (FPI).

Since July, FIIs have sold more than Rs 25,000-crore worth of shares in India.

"Market gets a breather due to the expectation that the government is likely to be lenient on a higher surcharge on FPIs, which influenced bears to cover their short positions," Vinod Nair, Head of Research at Geojit Financial Services, said.

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The Sensex is up 136.02 points or 0.36% at 37822.39, and the Nifty up 44.70 points or 0.40% at 11233.90. About 394 shares have advanced, 318 shares declined, and 27 shares are unchanged.

Strides Pharma, Shalby, Zee Entertainment, Tata Motors, ICICI Bank, UPL, JSW Steel Bajaj Finserv, Bharti Airtel, Adani Ports, L&T and Eicher Motors, are some of the major gainers on the indices in the early trade, while losers are Dr Reddy's Lab, Indiabulls Housing, SPARC and Sanofi India.

Among sectors, except IT all other indices are trading marginally higher led by auto, metal, pharma, infra and FMCG.

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The top gainers from the NSE include Tata Steel, Vedanta, Hindalco Industries, Sun Pharma and GAIL India while the top losers are Indiabulls Housing Finance, YES Bank, Bharti Infratel, Bajaj Finance and UPL.

Benchmark indices are trading in the red with Nifty shedding 61 points and is trading at 11,904 while the Sensex is down 217 points and is trading at 39,732 level.

Nifty Realty is down over a percent dragged by Indiabulls Real Estate, DLF, Prestige Estates and Sunteck Realty.

IT stocks are also trading in the red with top losers being Tata Consultancy Services, HCL Tech, Infosys, Tata Elxsi and Tech Mahindra.

From the banking space, the top losers are YES Bank, ICICI Bank, Kotak Mahindra Bank, Bank of Baroda, RBL Bank and Federal Bank.

Selective auto stocks are down led by Bajaj Auto, Maruti Suzuki, Hero MotoCorp, MRF and Tata Motors DVR.

Nifty Metal is up over a percent led by Jindal Steel & Power which spiked 4 percent followed by Hindalco Industries, JSW Steel, NALCO, SAIL and Tata Steel.

India VIX is down 0.69 percent at 14.39 levels.

The top gainers from the NSE include Tata Steel, Vedanta, Hindalco Industries, Sun Pharma and GAIL India while the top losers are Indiabulls Housing Finance, YES Bank, Bharti Infratel, Bajaj Finance and UPL.

The most active stocks are Indiabulls Housing Finance, Tata Steel, YES Bank, Just Dial and IndusInd Bank.

110 stocks have hit 52-week low on BSE including Eros Media, Manpasand Beverages, Mercator, Igarashi Motors, Leel Electricals, Kohinoor Foods, Jet Airways, Peninsula Land, Coffee Day Enterprises, HDIL and Aban Offshore among others.

The breadth of the market favoured the declines as 663 stocks advanced and 942 declined while 489 remained unchanged on the NSE. On the BSE, 850 stocks advanced, 1024 declined and 104 remained unchanged.

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India's cotton production in 2018/19 is likely to fall 4.7 percent from the previous season to 34.8 million bales, as scant rainfall and an attack of pink bollworms are expected to squeeze crop yields, the head of a leading trade body told Reuters.

The drop in output could limit exports from the world's biggest producer of the fibre amid rising demand from top consumer China and in turn support global prices, which are hovering near their lowest level in more than nine months hit last week.

"In Gujarat, we are expecting a big drop in production due to dry weather," said Atul Ganatra, president of the Cotton Association of India.

Gujarat, the country's top cotton producing state, received 28 percent lower rainfall than normal in the June-September monsoon season, according to the India Metrological Department.

The western state's fibre output is estimated to drop 14.3 percent from a year earlier to 9 million bales in the new marketing season that started on Oct. 1, he said.

In Maharashtra, the country's second-biggest cotton producer, output is expected to ease to 8.1 million bales from 8.3 million bales due to an attack of the pink bollworm pest, Ganatra said.

Indian farmers have adopted genetically-modified seeds known as Bt cotton that are resistant to bollworms, but it has not stopped the infestations.

Pink bollworms consume the fibre and seeds inside a cotton plant's boll, or fruit, and yields fall.

Gujarat and Maharashtra account for more than half of the country's total cotton production.

"Due to less production exports are likely to reduce and import is likely to increase," he said.

Pakistan, China, Bangladesh and Vietnam are key buyers of Indian cotton.

In 2017/18, India exported 6.9 million bales of cotton.

Demand for Indian cotton is robust this year from China as a trade war is prompting the world's top consumer to avoid imports from the United States.

(1 Indian bale = 170 kg)

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It has touched an intraday high of Rs 279.90 and an intraday low of Rs 266.

Shares of Hindustan Zinc declined 5.4 percent intraday Monday as foreign research house JP Morgan has initiated neutral rating with potential upside of 3 percent.

Research house has kept a target of Rs 290 per share.

It has touched an intraday high of Rs 279.90 and an intraday low of Rs 266.

This is a best-in-class mining company, but zinc markets are entering surplus and expect largely balanced market in 2019, and a surplus market in 2020, said JP Morgan.

The company has strong cash-rich balance sheet and expect elevated dividend payout.

Research house prefers parent Vedanta at current valuations.

The share touched its 52-week high Rs 339.55 and 52-week low Rs 261.15 on 26 February, 2018 and 24 July, 2018, respectively.

Currently, it is trading 19.38 percent below its 52-week high and 4.82 percent above its 52-week low.

At 10:48 hrs Hindustan Zinc was quoting at Rs 272, down Rs 9.40, or 3.34 percent on the BSE.

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Portfolio managers from Harding Loevner, Federated Investors, and Wells Fargo are among those who have been adding emerging markets stocks to their portfolios in the face of the imposition of import tariffs by President Trump and rising interest rates in the US

The steep decline in emerging market stocks since early this year are attracting some US fund managers who think they may find long-term bargains amid the sell-off.

Portfolio managers from Harding Loevner, Federated Investors, and Wells Fargo are among those who have been adding emerging markets stocks to their portfolios in the face of the imposition of import tariffs by President Trump and rising interest rates in the US

Emerging market asset prices have been hit hard this year. The MSCI index of emerging market stocks closed Friday at its lowest since May 2017 and it is down about 21 percent from January's high. An MSCI index of emerging market currencies is down 8 percent from its 2018 high, hit in March.

On Thursday, JPMorgan cut its rating on Chinese equities, the largest weight on the benchmark index, to neutral from overweight on expectations that a protracted trade war with the United States will hurt the Asian giant's economy next year.

Yet some US international and global fund managers say that emerging markets offer better deals than the US market, where stocks continue to hit record highs.

"We're finding opportunities because of the trade war," said Chris Mack, a portfolio manager of the Harding Loevner Global Equity fund.

US President Donald Trump has slapped tariffs on more than half of the $500 billion the US imports from China yearly, for which Beijing has retaliated.

Investor concern about the impact of the trade war has sent stocks in China and other emerging markets sharply lower this year.

Mack's fund has its highest weighting in emerging market stocks since 2006 and its lowest in the US since the same year in search of better values, he said.

The fund sold its position in Google's parent Alphabet Inc and bought South Korea's Samsung Electronics. Investors pay more than $25 for every $1 in earnings expected over the next 12 months at Alphabet, while they pay just over $6 at Samsung according to forward price-to-earnings estimates.

"You're getting the benefits of a company that is being boosted by a secular trend at a much cheaper price," Mack said.

Brian Jacobsen, senior investment strategist at Wells Fargo Asset Management, said his firm recently upgraded its stance on emerging markets from negative to neutral. The reasoning behind the move included compelling valuations and the likelihood the trade tariffs will not hurt emerging market companies as much as the broad market expects.

"People are slow to come around to the realization that the US isn't going to close its borders to all emerging markets," he said, adding that Vietnamese companies could stand to benefit if the US and China continue to slap tariffs on each other's goods.

Overall, US global funds have nearly 7 percent of their portfolios in emerging market stocks, a 25 percent increase from 3 years ago, according to Lipper, a Refinitiv company.

Yet this year the $58.1 billion Vanguard FTSE Emerging Markets ETF is down almost 15 percent and posted about $2 billion in outflows since July, according to Lipper. It closed on Friday at its lowest since March 2017.

However, there are signs the tide could already be turning.

Investors pumped money into emerging market equities and debt at the fastest weekly rate since April, a Bank of America Merrill Lynch analysis of EPFR data showed on Friday.

"I've never seen sentiment (on emerging market equities) be so negative when fundamentals are actually pretty good," said Teresa Barger, co-founder and CEO at hedge fund Cartica Management.

"When you get a situation like this, what you usually see is the retail investors getting scared and exiting but institutional investors entering."

Barger is looking beyond China to India and Brazil, both of which may be less affected by the US trade tariffs, she said.

Yousef Abbasi, global market strategist at INTL FCStone in New York, also sees a silver lining for emerging market countries outside of China if the Washington-Beijing trade war intensifies, pointing to Brazil and Indonesia.

"I'd be very selective in where I look for my exposure in emerging markets," he said.

"Look for countries with a large US dollar reserve, direct trade partners with the US and that have (relatively) less exposure in terms of exports to China."

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Gold fell on Monday as the dollar firmed after China's central bank eased its domestic policy to support the economy amid concerns that an escalating trade dispute with the United States could hurt growth.

The People's Bank of China (PBOC) on Sunday announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth.

Spot gold was down 0.5 percent at $1,196.61 an ounce at 0441 GMT. U.S. gold futures fell 0.5 percent to $1,200.50 an ounce.

"Although the dollar index has not gained much, the decision by China might be seen by some market participants as some sign of softness as a result of the trade war, which could benefit the dollar," said John Sharma, an economist at National Australia Bank.

The dollar was up 0.1 percent against a basket of six major currencies, as China followed an easing in domestic policy by allowing yuan to fall, though the drop was not as sharp as some had feared.

"Maybe, the trade war is affecting China more than realised and therefore the need to ease on policy, which dampened demand for gold there," a Singapore-based trader said.

Gold prices have fallen more than 12 percent from a peak in April largely due to strength in the dollar, which has benefited from a vibrant U.S. economy, rising U.S. interest rates and fears of a global trade war.

U.S. unemployment rate fell to near a 49-year low, as per the Labor Department's monthly employment report on Friday, which also showed a steady rise in wages, suggesting moderate inflation pressures, that could keep the Federal Reserve on a path of gradual interest rate increases.

"After very rosy comments from Fed Chair Powell earlier in the week and a decidedly hawkish post-FOMC presser, this data needed only to avoid an improbable disaster to unlock further steepening of the priced-in Fed outlook," said Ilya Spivak, a currency strategist for Dailyfx.

"To that end, its passing seemed to give the green light to traders withholding directional conviction until after event risk has passed."

Spot gold may test a support at $1,193 per ounce, a break below which could cause a loss to the next support at $1,188, while a break above $1,201 could lead to a gain into $1,207-$1,214 range, according to Reuters technical analyst Wang Tao.

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.20 percent to 730.17 tonnes, on Friday.

Speculators cut their net short position in COMEX gold by 4,186 contracts to 73,128 in week to Oct. 2.

Meanwhile, spot silver fell 0.7 percent to $14.48 and palladium fell 0.3 percent to $1,066.10. Platinum inched 0.7 percent lower at $814.74 an ounce.

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Here is a list of top 10 short-term money making ideas from different experts which could give 5-28% return in the next 1-6 months.

Nifty50 lost 5.6 percent, or over 600 points, for the week ended October 5 to record its biggest weekly loss in the last 26 weeks. The Nifty index has been making lower highs and lower lows on the weekly scale and has now fallen by around 1,500 points in the last 5 weeks.

The index formed a bearish candle on daily charts on Friday and on the weekly scale as well which suggests that bears are having a tight grip on the market.

The Nifty index broke below major levels like 61.80 percent retracement at 11,650, maximum Put OI congestion zones of 11,500-11,450, 50 Weekly EMA and is now gradually drifting lower with the higher pace of selling pressure, suggest experts.

India VIX is now hovering around 19.73 and is moving upwards from last three consecutive weeks which is not a good sign for the bulls. On the options front, maximum Put OI is placed at 10,500 followed by 10,700 strikes while maximum Call OI is at 11,000 followed by 11,200 strikes.

“As long as it holds below 10,500 zones, Nifty may continue to extend its weakness towards 10,200 and may even retest 10,000 levels while on the upside, medium-term hurdle is shifting from 10,850 to 10,650 zones,” Chandan Taparia, Derivatives and Technical Analyst at Motilal Oswal Securities told Moneycontrol.

“Most of the sectorial indices were in pressure in the last week while many heavyweights also fell down sharply. Now till index doesn’t take a pause from selling mode by crossing any immediate hurdle zones, don’t go for bottom fishing, as sharp cut of 15 percent from higher zones have changed the price structure of most of the heavyweight and mid and small caps stocks, upside seems to be capped for time being,” he said.

Selective IT, few Metal and Pharma counter may see some support based buying while most of the Auto, FMCG, Oil & Gas, Mid and Small cap stocks may continue their downward journey.

Here is a list of top 10 short-term money making ideas from different experts which could give 5-28% return in the next 1-6 months:

Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in

Ashok Leyland: Buy| LTP: 108| Target: Rs 132| Stop Loss: Rs 103| Return 28%

Despite high volatility in the market, this counter was moving flat for the last couple of trading sessions suggesting that it might have bottomed out. Hence, post monetary policy if this counter is sustaining above Rs 110 levels on closing basis, one can initiate long positions for targets of Rs 132.

Bajaj Auto: Buy| LTP: Rs 2544| Target: Rs 2940| Stop Loss: Rs 2528| Return 15%

Interestingly, for the last four weeks, this counter is moving in a horizontal fashion after taking support around Rs 2,600 levels when broader market was under pressure.

Hence, if the stock manages to reclaim Rs 2600 and sustain then it can head for an initial target of Rs 2,940 levels. Hence traders are advised to buy now and accumulate further on declines.

BHEL: Buy| LTP: 70.60| Target: Rs 83| Stop Loss: Rs 65| Return 18%

A strong up move was seen in the current turbulent week which suggests that this counter has decoupled with market volatility and can head higher based on its own strength.

Hence positional traders are advised to buy the stock now and in declines up to Rs 69. As long as it sustains above Rs 66 levels, it can head for an initial target of Rs 83.

Analyst: Rajesh Palviya, Head – Technical & Derivatives Analyst, Axis Securities

Aurobindo Pharma: Buy| LTP: Rs 743| Target: Rs 810| Stop Loss: Rs 735| Return 9%

The stock has given a down sloping trend line breakout at Rs 760 levels on the closing basis with an increase in volumes. The stock is trading above 20, 50 and 100-day SMA. The daily RSI and Stochastic both are in a positive territory indicating further upside.

In the month of Sept., the stock has marked a low (Rs 698) which coincides with 50 percent Fibonacci retracement support (Rs 696) of the previous rally (Rs 565-827), which remains a crucial support.

On the monthly chart, the stock is moving in a higher Top higher Bottom with a huge spurt in volumes indicating increased participation on the rally. The monthly indicators RSI and Stochastic both are confirming the strength as well as upside momentum.

Hindalco Industries Ltd: Buy| LTP: Rs 240| Target: Rs 270| Stop Loss: Rs 239| Return 12%

The stock has decisively broken its 6-months consolidation range of 230-250 levels on the closing basis indicating an upward breakout.

On the monthly chart, the stock has formed a strong base around 210-200 levels which remains a crucial support zone. The stock has crossed its 200-days SMA indicating bullishness.

The daily, as well as monthly RSI and stochastic, are in a positive territory indicating further upside.

NIIT Technologies: Buy| LTP: Rs 1,158| Target: Rs 1,280| Stop Loss: Rs 1,130| Return 10%

The stock has given a downward sloping channel breakout at Rs 1,150 levels on the closing basis with an increase in volumes. Since May 2018, the stock has managed to hold its major support zone around Rs 1,060 -1,000 levels which signal strength at lower levels.

The stock has closed above its 100-day SMA. The daily RSI and stochastic both are in a positive territory indicating further upside.

Brokerage Firm: SMC Global Securities

Infosys: Buy| LTP: Rs 721.85| Target: Rs 765| Stop Loss: Rs 680| Return 6%

The stock closed at Rs 721.85 on 05th October, 2018. It made a 52-week low at Rs 452 on 06th October 2017 and a 52-week high of Rs 754.90 on 1st October 2018. The 200-day Exponential Moving Average (EMA) of the stock on the daily chart is currently at Rs 627.05.

The short, medium and long-term bias are positive for the stock as it is continuously trading in “Rising Channel” on the weekly charts, which is considered to be bullish.

Last week, there was a panic selling witnessed across the board but the stock ended flat on the back of buying force, which indicates buying is aggressive for the stock.

Technical indicators like RSI and MACD are also looking positive for the stock so one can initiate long in the range of Rs 710-715 levels for the upside target of Rs 755-765 levels with a stop loss below Rs 680.

Analyst: Manav Chopra, CMT, Head of Research, Indiabulls Ventures

Axis Bank: LTP: Rs 568| Target: Rs 650| Stop Loss: Rs 530| Return 14%

The recently Axis Bank has broken out of the long-term triangle on the weekly charts, which is now retesting its earlier resistance levels.

These levels are now likely to act as strong support. One can buy Axis Bank from these levels as the structure is bullish and the risk reward is favourable. Investors can initiate buy with a target at Rs 650 while a stop loss can be placed at Rs 530.

UPL: Buy| LTP: Rs 598.20| Target: Rs 700| Stop Loss: Rs 560| Return 17%

UPL has recently formed a Morning Star candlestick pattern on the weekly charts, which is now nearing its monthly support levels. Supports are placed around Rs 550 - 565 levels.

One can take a long position in UPL while keeping a stop loss below Rs 560 levels, and a short-term target can be maintained at Rs 700 levels

Cipla: LTP: Rs 634.55| Target: Rs 730| Stop Loss: Rs 610| Return 15%

Cipla is currently holding its monthly breakout levels and the momentum oscillators are showing bullish signs. In this volatile market, one should focus on pharma stocks.

The recent dip should be taken as buying opportunity in Cipla, for the short-term target can be maintained at Rs 730 levels while placing a stop loss below Rs 610.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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The breadth of the market favoured declines, with 518 stocks advancing, 1101 declining and 438 remaining unchanged. On BSE, 661 stocks advanced, 1184 declined and 101 remained unchanged.

Dalal Street is witnessing a cat and mouse game as the market has recovered with the Nifty50 adding 2 points, trading at 10,318 while the Sensex has shed 14 points at 34,362.

Nifty metal is the biggest underperformer, down 3.5 percent dragged by NALCO, Hindalco Industries and Jindal Steel and Power which are down 5-6 percent followed by Vedanta, Hindustan Zinc, NMDC, SAIL and Tata Steel.

Realty stocks are also down dragged by Godrej Properties, Oberoi Realty, Prestige Estates, Phoenix Mills, Unitech and Suntech Realty.

Auto stocks are weak in the morning session with loses from Motherson Sumi Systems, Exide Industries, MRF and TVS Motor Company.

Oil & gas stocks are up led by HPCL which jumped 6 percent followed by BPCL, GAIL India, Indian Oil Corporation and ONGC. Reliance Industries is up 1 percent after trading in the red.

Bank Nifty is trading in the green with gains from ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, State Bank of India and YES Bank.

Pharma stocks are trading in the red as Aurobindo Pharma, GSK Pharma, Lupin, Sun Pharma and Cadila Healthcare shed 1-2 percent.

From the BSE midcap space, Edelweiss Financial, NALCO, IIFL Holdings and Godrej Properties are the top losers.

Goa Carbon, down 15 percent followed by IL&FS Engineering, IL&FS Transport and GATI are the top losers from the BSE smallcap space.

The top NSE gainers include names like HPCL, BPCL, IOC, YES Bank and GAIL India.

The top NSE losers are Vedanta, Hindalco, Tata Steel, Wipro and Dr Reddy's Labs.

The most active stocks are Reliance Industries, Bajaj Finance, Maruti Suzuki, BPCL and HPCL.

Monnet Ispat is one of the few stocks which hit new 52-week high this Monday morning.

On the other hand, 352 stocks have hit new 52-week low including names like 8K Miles Software, Aban Offshore, Apollo Tyres, Arvind, AU Small Finance, Bajaj Auto, BEML, Bharat Forge, Bombay Dyeing, Century Textiles, CG Power, Dish TV, eClerx Services, Edelweiss Financial, Future Consumer, GIC Housing, Godrej Industries, Godrej Properties, GSPL, IDFC Bank, InterGlobe Aviation, Jaiprakash Associates, JSW Energy, United Spirits and Piramal Enterprises among others.

The breadth of the market favoured declines, with 518 stocks advancing, 1101 declining and 438 remaining unchanged. On BSE, 661 stocks advanced, 1184 declined and 101 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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International benchmark Brent crude oil futures were at $83.26 per barrel at 0352 GMT, down 90 cents, or 1.1 percent, from their last close.

Brent crude oil prices fell more than 1 percent on Monday after Washington said it may grant waivers to sanctions against Iran's oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.

International benchmark Brent crude oil futures were at $83.26 per barrel at 0352 GMT, down 90 cents, or 1.1 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were down 54 cents, or 0.7 percent, at $73.80 a barrel.

US sanctions will target Iran's crude oil exports from November 4, and Washington has been putting pressure on governments and companies worldwide to cut their imports to zero.

However, a US government official said on Friday that the country could consider exemptions for nations that have already shown efforts to reduce their imports of Iranian oil.

In a sign that Iran oil exports won't fall to nothing from November, India will buy 9 million barrels of Iranian crude next month, Reuters reported on Friday.

Hedge funds cut their bullish wagers on US crude in the latest week to the lowest level in nearly a year, data showed on Friday.

Traders said ongoing concerns that the US-Chinese trade war could slow down economic growth also weighed on crude on Monday.

China's stocks fell sharply on Monday despite an announcement from Beijing over the weekend that it would slash the level of cash that banks must hold as reserves, a sign of underlying investor anxiety over the heated Sino-US trade war.

Further weighing on oil prices was "chatter that Saudi Arabia has replaced all of Iran's lost oil", said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.

But Innes warned that limited spare production to deal with further supply disruptions meant "the capacity is quickly declining due to Asia's insatiable demand".

The US oil drilling rig count fell for a third consecutive week, as rising costs and pipeline bottlenecks have hindered new drilling since June.

Drillers cut two oil rigs in the week to October 5, bringing the total count down to 861, energy services firm Baker Hughes said in its weekly report on Friday.

That is the longest streak of weekly cuts since October last year.With Iran sanctions still on the table, potential spare capacity constraints and also a slowdown in US drilling, US bank J.P.Morgan said in its latest cross-asset outlook for clients that it recommended to "stay long Jan '19 WTI on supply risks to crude".

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The company has received an advance purchase order worth Rs 879 crore from Telecommunications Consultants India (TCIL), New Delhi.

Shares of Himachal Futuristic Communication (HFCL) gained more than 4 percent in the early trade on Monday after company received advance purchase order worth Rs 879 crore.

The company has received an advance purchase order worth Rs 879 crore from Telecommunications Consultants India (TCIL), New Delhi.

The scope of work includes survey, procurement, supply, trenching, laying, installation, testing and maintenance of optical fibre cable (OFC), accessories and GPON equipment in the State of Madhya Pradesh under BharatNet Phase-II Network of Government of India under Package MP3 being implementing by Bharat Sanchar Nigam.

The aforesaid contract also includes operation and maintenance services for a period of seven years after warranty of one year.

BharatNet Programme forms one of the key pillars of digital India program. It is a project of national importance, envisage to connect & provide broadband connectivity at around 2,50,500 gram panchayats in the country.

At 09:19 hrs Himachal Futuristic Communication was quoting at Rs 19.50, up Rs 0.65, or 3.45 percent.

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