Daily Stock Market Trend Analysis by CapitalHeight

Indian Market Overview:-

•  Equity benchmarks closed off day’s high amid volatility on first day of the week, tracking positive global cues. Nifty future up 34 points at 7546.

•   The 30-share BSE Sensex up by 86 points at 24804. The market breadth was weak as about 1316 shares advanced against 1343 declining shares on the BSE.

• Top public sector lender State Bank of India   today released arrears worth Rs 1,465 crore to 7.75 lakh defence pensioners under One Rank One Pension (OROP) scheme, as per the government rules.

•   India’s consumer price index (CPI) fell to 5.18 percent year-on-year, compared to economists’ forecasts of a 5.53 percent, and versus a print of 5.61 percent recorded last month.

Global Market Overview-  

•   Asian markets traded higher on Monday, extending Friday’s gains, as traders began to take a more positive view of the European Central Bank’s (ECB) monetary policy decision last week.

•  The Japanese Nikkei 225 was up 1.31 percent in early trade, extending Friday’s 0.51 percent increase, while the South Korean Kospi added 0.16 percent, after finishing up 0.11 percent on Friday.

•   China’s new stock market regulator head Liu Shiyu said on Saturday it is too early for the government to exit from stock market investments made as part of its efforts to calm markets last summer.

•  On Friday, US indexes closed sharply higher, with the Dow Jones industrial average up 1.28 percent, the S&P 500 higher by 1.64 percent and the Nasdaq composite gaining 1.85 percent.

Today’s Stock Recommendation

Technical Overview:

Stock recommendation for 15/3/2016 is STAR ltd.In today’s trading session it was up by 2.10%. Its long term trend is up. It has made a long green candle indicating further buying in daily chart. Its short term support level is 1038. All the indicators are suggesting that one can go for long position in this stock above 1065 levels. The stock may test level of 1080-1100 in coming days.

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