Wheat yesterday traded with the positive node and settled 0.16% up at 1370 amid increased demand and ongoing concerns over declining global supplies. In Delhi wheat prices dropped -12 rupee to end at 1371.25 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1362.4 after opening at 1362.6, and finally settled at 1370. For today's session market is looking to take support at 1357.4, a break below could see a test of 1344.8 and where as resistance is now likely to be seen at 1387.6, a move above could see prices testing 1405.2.
Crude Palm oil yesterday traded with the negative node and settled -0.15% down at 547 on profit booking driven by subdued demand in spot market. In yesterday's trading session Crude Palm oil has touched the low of 545.9 after opening at 547.8, and finally settled at 547. For today's session market is looking to take support at 545.6, a break below could see a test of 544.1 and where as resistance is now likely to be seen at 548.8, a move above could see prices testing 550.5.
MindTree reported in-line results with 3.5%QoQ USD revenue growth, due to increase in price realisation and flat volume growth as a result of lower working days in the quarter. Forex gain and lower taxes resulted in higher than expected EPS of Rs7.5 (31.5%QoQ growth).
Ref Soyaoil yesterday traded with the negative node and settled -0.18% down at 647.9 as profit-taking outweighed a rise in overseas markets. Adequate stocks position in the physical market also put pressure on the prices. At the Indore spot market soyoil edged up by 2.4 rupee to 638.1 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 646 after opening at 648.4, and finally settled at 647.9. For today's session market is looking to take support at 645.3, a break below could see a test of 642.6 and where as resistance is now likely to be seen at 651.3, a move above could see prices testing 654.6.
Aluminium yesterday traded with the positive node and settled 0.31% up at 111.25. Some pressure had been seen from the LME stock also which came up by 30625mt, the total stock at LME is now at 4461975mt. In yesterday's trading session aluminium has touched the low of 110.9 after opening at 111.05, and finally settled at 111.25. For today's session market is looking to take support at 110.8, a break below could see a test of 110.4 and where as resistance is now likely to be seen at 111.8, a move above could see prices testing 112.3.
Trading Ideas:Motilal Oswal Financial Services has reiterated its BUY recommendation on Shriram Finance (SHFL), assigning a target price of Rs 1,175, implying an upside potential of nearly 29% from the current m
News in Focus
Featured, India Business, Analyst View, Stock Markets, Finance Sector, India, Motilal Oswal, Shriram Transport Finance
Featured, India Business, Analyst View, Stock Markets, Honasa Consumer, ICICI Securities, India, Retail Sector
ICICI Securities has reiterated its BUY recommendation on Honasa Consumer Limited, raising its target price to Rs 550 from Rs 500, implying an upside potential of nearly 32% from the current market
Featured, India Business, Analyst View, Agriculture, Balkrishna Industries, Geojit Financial Services, India
Geojit Financial Services has upgraded Balkrishna Industries (BKT) to a BUY rating and assigned a 12-month target price of Rs.
Motilal Oswal has a Buy with a Rs 530 target — 24% upside from Rs 426.
Indian Renewable Energy Development Agency (IREDA) continues to demonstrate strong balance-sheet expansion despite a temporary slowdown in profitability caused by elevated provisioning and foreign
IDBI Capital has maintained its BUY recommendation on Apeejay Surrendra Park Hotels Ltd.
Main Regional Stories
Featured, India Business, Analyst View, Auto Sector, Bajaj Auto, Geojit Financial Services, Maharashtra
Geojit Financial Services has upgraded Bajaj Auto Limited to a BUY rating from HOLD, assigning a 12-month target price of Rs. 11,735, implying an upside potential of approximately 12% from the current market price of Rs. 10,460.
Keynote Capitals has maintained its BUY recommendation on Yatra Online Limited, assigning a target price of Rs. 206 against the current market price of Rs. 98, implying a potential upside of approximately 110%.
Tata Steel share price declined 1.8 percent on Friday after reports of fire at its UK-based steel plant. The company shared the fire was contained but there was damage at the steel plant.
Featured, India Business, Analyst View, Stock Markets, ICICI Securities, India, Indo Count Industries, Textile Sector
ICICI Securities has retained its BUY call on Indo Count Industries, setting a revised 12-month target of Rs 418, versus a current market price of Rs 344.
