Futures

  Tata Technologies Limited (TTL/TTECH) is a prominent global engineering services company with a strong focus on product development and digital solutions. With over two decades of experience, TTL specializes in serving global original equipment manufacturers (OEMs) and their tier 1 suppliers, primarily in the automotive industry. TTL leverages its deep domain expertise in automotive to extend its services to adjacent industries such as aerospace and transportation and construction heavy machinery (TCHM). TTL is a pure-play manufacturing-focused Engineering Research and Development (ER&D) company, primarily centered on the automotive industry. Engaged with seven of the top 10 automotive ER&D spenders and five of the top 10 new energy ER&D spenders in 2022. Automotive revenue constitutes a significant portion of its Services segment revenue. TTL is a subsidiary of Tata Motors Limited (TML), benefiting from long-term relationships with both TML and Jaguar Land Rover...

  Wall Street rallies as October US core CPI is at 0.23% MoM and missed a huge consensus which was at 0.3-0.4%. This will undo any remaining expectations that Fed will hike again in this cycle. US Treasury 2y, 5y and 10y yields down. Dow, Nasdaq and S&P gain 489, 326 and 84 points. Taking cues from the Wall Street, Asian Markets opened with gap ups and are trading in the green. Considering the global cues and Govt data released on Monday evening on India's retail inflation which eased to four-month low of 4.87% in October from previous month’s 5.02%, a big gap up is anticipated from Nifty. On upside, 19547, 19577 and 19600 to act as resistance and on the downside, 19420, 19400 and 19380 to act as strong support.

  After trading in the range of 19300-19467 since the start of the last week, Nifty opened above 19500 in the one-hour Muhurat Trading at 19547. Sustained above 19500 level throughout and closed at 19526, amidst low volume. It gained over 100 points and this gain was led by IT and PSUs stocks. Dow Jones, S&P500 and Nasdaq soared and ended up with big gains on Friday as treasury yields calmed. Mixed signals from the Asian Market, as Hangseng, KOSPI, Nikkei and Shanghai Composite opened at a gap up but have fallen below the previous closing except Nikkei. Gift Nifty is currently trading up 55.5 points. A Flat opening indication. On daily chart, it has entered above 0.5 area of Fibonacci retracement drawn from its high of 20230.65 and low of 18837.85. On the upside, if it breaks 19547, it could move towards 19600 level. On the downside, if it breaks 19510, it could move towards 19464. 19400 will act as a strong support. Significant call writing at the strike of 19600 and 19800...