Stock Market and Commodity Market News

INDORE, India - Sept. 26, 2016 - PRLog -- The market has opened low dragged by profit booking and weak global cues.

·        Sensex is down 148.90 points

·        Nifty is down 46.45 points

About 435 shares have advanced, 444 shares declined, and 69 shares are unchanged.

OPENING BELL by TradeIndia Research

SENSEX DOWN - 37.30 @ 28630.92,

NIFTY FUTURE DOWN - 29.85,

BANK NIFTY FUTURE DOWN - 137.50 @ 19811.00,

USD/INR – 66.76.

The Indian rupee opened lower by 10 paise at 66.75 per dollar on Monday versus 66.65 Friday.

INTERNATIONAL MARKET UPDATE by Tradeindia Research

GOLD $ 1336.85

SILVER $ 19.598,

COPPER $327.10,

CRUDE OIL $ 44.75,

INR 66.755.

Investment strategies by analysts for 8 stocks

BEL: Citi says it is top industrial pick with target increased to Rs 1735 from Rs 1557 per share.

Idea: Morgan Stanley has cut target price to Rs 70 per share from Rs 89 per share, believing that share price will fall relative to country index over next 60 days.

HDFC Bank:Bank of America Merrill Lynch reiterates buy call with target increased to Rs 1625 from Rs 1550 per share.

Axis and ICICI Bank: Morgan Stanley prefers Axis Bank structurally over ICICI Bank. It expects Axis Bank to earn 400-500 basis points higher ROE than ICICI Bank. It says ICICI Bank should book capital gain of Rs 5700 crore in Q2.

Larsen and Toubro: Credit Suisse maintains outperform rating with target increased to Rs 1925 from Rs 1825 per share.

Steel stocks: It is overweight on Tata Steel   , JSW Steel   and JSPL with target price at Rs 440, Rs 2000 and Rs 110 per share. It is underperform on Tata Steel with target at Rs 35 per share.

Today's Top Call target Achieved

CALL:- BUY V2RETAIL

ABOVE 112.50

TG1-113.50

TG2-115.00

SL-111.00.

Daily commodity and stock market news with trading recommendations with accuracy and full support on Free Stock Future Tips (http://www.tradtips.com/derivative.html) service.

Gold

Last week, spot gold prices rose by 1.8 percent to close at $1337.2 per ounce after the U.S. Federal Reserve's decision to keep interest rates on hold sent the dollar to its lowest level since the start of last week. MCX gold prices will trade higher in line with international trends.

On the MCX, gold prices rose by 1.2 percent to close at Rs.31281 per 10 gms.

Silver

Spot silver prices rose by 2.7 percent last week to close at $19.7 per ounce in line with rise in gold prices and weakness in dollar index.

On the MCX, silver prices rose by 1.7 percent to close at Rs.46817 per kg

Crude Oil

WTI oil prices rose by 1.7 percent last week to close at $44.5 per barrel boosted as U.S. government data showed a surprising crude inventory drop. U.S. Energy Information Administration (EIA) showed that crude stockpiles fell 6.2 million barrels last week, bringing the draw to more than 21 million barrels for this month.

On the MCX, oil prices rose by 2.8 percent to close at Rs.2978 per barrel. On the MCX, oil prices are expected to trade higher today as international markets are higher 0.7 percent at $44.80 per barrel.

Best Advisory company (http://www.tradtips.com) provide stock or commodity recommendations with accuracy and full support of experts.

MCX SUPPORT & RESISTANCE LEVEL

GOLD JUNE FUTURE

R2–31712,

R1 -31510,

S1-30850,

S2-30545

SILVER JULY FUTURE

R2 –47215,

R1- 46992,

S1-46151,

S2-45850,

CRUDE OIL JUNE FUTURE

R2 –3110,

R1-3054.

S1-2951,

S2-2890,

COPPER JUNE FUTURE

R2 –338,

R1-331,

S1-320,

S2-313.