Sensex zooms over 200 pts, Nifty nears 8000

The Sensex is up 233.40 points or 0.9 percent at 26809.05, and the Nifty is up 70.05 points or 0.9 percent at 7997.80. About 453 shares have advanced, 81 shares declined, and 6 shares are unchanged.

The Indian rupee has opened at 61.15 a dollar, up 16 paise compared to previous day's closing value of 61.31 per dollar on hopes of strong trade in equity market.

Indian markets are expected to trade strong, though we may see some profit booking at higher levels.”He expects the rupee to gain as indices in Asian markets have already started the day on a strong note. “The USD-INR pair is expected to trade in the range of 60.80-61.80 a dollar.

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BULLIONS COMMODITY MARKET STRATEGY 17TH OCTOBER 2014

CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:405
SUP2:402 
RESIST1:412
RESIST2:417
TRADING STRATEGY: SELL ON RISE
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CS CRUDE (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:5010
SUP2:4945
RESIST1:5240
RESIST2:5300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
CS GOLD (DECEMBER) OVERVIEW: 
TREND CONSOLIDATE
SUP1:27150
SUP2:26840
RESIST1:27620
RESIST2:27810
TRADING STRATEGY: SELL ON RISE
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CS SILVER (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:38580
SUP2:38050 
RESIST1:39200
RESIST2:39630 
TRADING STRATEGY: SELL ON RISE
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AGRI COMMODITY MARKET STRATEGY 17TH OCTOBER 2014

CS CHANA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:2870 
SUP2:2840 
RESIST1:2950
RESIST2:2970
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000 
CS JEERA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:10590
SUP2:10520
RESIST1:11110
RESIST2:11150
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
CS TURMERIC (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6100
SUP2:6040
RESIST1:6320
RESIST2:6500
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:2925
SUP2:2900
RESIST1:3115
RESIST2:3172
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000

COMMODITY MARKET STRATEGY 17 OCT. 2014

BASE METAL WRAP: Nickel climbed for the first time in four days, paring a sixth weekly decline, as some investors deemed this week’s drop to a seven-month low as excessive amid signs of an improving U.S. economy.

ENERGY WRAP: West Texas Intermediate crude rallied for a second day after trading below $80 a barrel for the first time since June 2012. Brent advanced in London.

PRECIOUS METAL WRAP: Gold traded below a five-week high, headed for the first back-to-back weekly increase since July, amid speculation signs of a global slowdown led by Europe may delay the onset of higher U.S. borrowing costs. Palladium rose.

GLOBAL EVENTS TO WATCH: Core CPI m/m, Building Permits, Fed Chair Yellen Speaks, Housing Starts, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations.

TOP CORPORATE NEWS 25 September 2014

• State-owned banks came under pressure

State-owned banks came under pressure on account of quality assets concerns on account of their advances to companies whose coal block allocations have been cancelled. Banking sector has exposure of 8.8% of non-food credit to the power sector. Cancellation of allotted coal blocks to projects will adversely impact the chances of recovery of these loans. SBI, Bank of India, Bank of Baroda, PNB and Canara Bank are some of the top losers in this space.

• ONGC slips 4% on gas price hike deferral, BoAML cuts EPS

Shares of Oil and Natural Gas Corporation fell as much as 3.65 percent after Cabinet Committee on Economic Affairs (CCEA) deferred its decision on gas price hike again.

• Aban Offshore slips over 16% on profit taking

Aban Offshore slipped over 16% continuing its downtrend seen over the past five trading sessions. Last week, the company has started its plans to raise around $500 million by listing its Singapore subsidiary. The fund mobilised would be used to repay part of its debt, which is currently around Rs 14,000 crore.

• RIL plans to raise $800 mn from Korea co

Reliance Industries is reportedly planning to raise $800 mn from Korea Exim. This move will be the first international financing for RJio.

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