Monday 31 December 2018

Today Crude Updates Trading Rules


Buy Signal: When all the mcx crude oil short-term Exponential Moving Averages (EMA) crosses the long-term Exponential Moving Averages (EMA) from below, signals for a uptrend.

SELL Signal: When all the mcx crude oil short-term Exponential Moving Averages (EMA) cross the long-term Exponential Moving Averages (EMA) from above, signals for a downtrend.

Trend Strength: Another application of Guppy multiple moving average system is to analyze the strength of the current trend in crude oil. If the EMA lines of short term and long term moving averages are wide separated by a uniform distance then the trend in crude oil is seen as stable. If there's no wide separation, then the prevailing trend is weak and vulnerable.


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Today Nickel Updates Trading Rules


Buy Signal: When all the mcx nickel short-term Exponential Moving Averages (EMA) crosses the long-term Exponential Moving Averages (EMA) from below, signals for a uptrend.

SELL Signal: When all the mcx nickel short-term Exponential Moving Averages (EMA) cross the long-term Exponential Moving Averages (EMA) from above, signals for a downtrend.

Trend Strength: Another application of Guppy multiple moving average system is to analyze the strength of the current trend in nickel. If the EMA lines of short term and long term moving averages are wide separated by a uniform distance then the trend in nickel is seen as stable. If there's no wide separation, then the prevailing trend is weak and vulnerable.


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Today Zinc Updates Trading Rules


Buy Signal: When all the mcx zinc short-term Exponential Moving Averages (EMA) crosses the long-term Exponential Moving Averages (EMA) from below, signals for a uptrend.

SELL Signal: When all the mcx zinc short-term Exponential Moving Averages (EMA) cross the long-term Exponential Moving Averages (EMA) from above, signals for a downtrend.

Trend Strength: Another application of Guppy multiple moving average system is to analyze the strength of the current trend in zinc. If the EMA lines of short term and long term moving averages are wide separated by a uniform distance then the trend in zinc is seen as stable. If there's no wide separation, then the prevailing trend is weak and vulnerable.


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Today Copper Updates Trading Rules


Buy Signal: When all the mcx copper short-term Exponential Moving Averages (EMA) crosses the long-term Exponential Moving Averages (EMA) from below, signals for a uptrend.

SELL Signal: When all the mcx copper short-term Exponential Moving Averages (EMA) cross the long-term Exponential Moving Averages (EMA) from above, signals for a downtrend.

Trend Strength: Another application of Guppy multiple moving average system is to analyze the strength of the current trend in copper. If the EMA lines of short term and long term moving averages are wide separated by a uniform distance then the trend in copper is seen as stable. If there's no wide separation, then the prevailing trend is weak and vulnerable.

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Today Lead Updates Trading Rules


Buy Signal: When all the mcx lead short-term Exponential Moving Averages (EMA) crosses the long-term Exponential Moving Averages (EMA) from below, signals for a uptrend.

SELL Signal: When all the mcx lead short-term Exponential Moving Averages (EMA) cross the long-term Exponential Moving Averages (EMA) from above, signals for a downtrend.

Trend Strength: Another application of Guppy multiple moving average system is to analyze the strength of the current trend in lead. If the EMA lines of short term and long term moving averages are wide separated by a uniform distance then the trend in lead is seen as stable. If there's no wide separation, then the prevailing trend is weak and vulnerable.



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Today Silver Analysis Update Trading Rules


Buy Signal: When all the mcx silver short-term Exponential Moving Averages (EMA) crosses the long-term Exponential Moving Averages (EMA) from below, signals for a uptrend.

SELL Signal: When all the mcx silver short-term Exponential Moving Averages (EMA) cross the long-term Exponential Moving Averages (EMA) from above, signals for a downtrend.

Trend Strength: Another application of Guppy multiple moving average system is to analyze the strength of the current trend in silver. If the EMA lines of short term and long term moving averages are wide separated by a uniform distance then the trend in silver is seen as stable. If there's no wide separation, then the prevailing trend is weak and vulnerable. 



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Social media poised for more scrutiny, greater checks in 2019


With great power comes great responsibility. The quote made popular by the iconic comic series 'Spider-Man' sums up the challenges that social media platforms like WhatsApp and Facebook are facing in India.

They have been accused of being a carrier of hate messages and fake news that incited mob violence. And, now they stare at the prospects of stricter government rules, greater accountability and regulatory scrutiny.

These platforms, for some of whom India is the biggest consumer base outside of their home country, can see very much clear the writing on the wall -- follow the rules of engagement if you want to be in the world's fastest growing economy.

The year 2018 will go down in history as the one where social networking platforms not only made country-specific changes -- be it labeling forwarded messages, limiting the number of people a user can send a message to at one go and launching public awareness campaign against fake news. They also agreed to store user data belonging to Indians within the country.

Globally, the tech and social giants scrambled to make efforts to mollify users with better control of their digital profile and data trail, as they faced backlash over data breaches. India market was no different.

Earlier this year, Facebook came under the regulatory glare after a global data leak scandal hit about 87 million users. British data analytics and political consulting firm Cambridge Analytica was accused of harvesting personal information of millions of Facebook users illegally to help political campaigns and influence polls in several countries.

Law and IT Minister Ravi Shankar Prasad warned the US social media giant of "stringent" action for any attempt to influence polls through data theft, even threatening to summon its CEO Mark Zuckerberg, if needed.

The IT ministry slapped two notices on Cambridge Analytica and Facebook over the data breaches. Facebook admitted that nearly 5.62 lakh people in India were "potentially affected" by the incident and rushed to tighten processes, to prevent a repeat.

But Cambridge Analytica continued to be evasive and in mid this year the Centre asked CBI to probe the alleged misuse of data of India's Facebook users by the British political consultancy firm.

Facebook, meanwhile, to bring transparency in political advertisements in the run-up to 2019 general elections, is making it compulsory for advertisers to disclose their identity and location before any such ad material can be run on the popular social media platform and Instagram.

Twitter, too, intensified its crackdown on fake and automated accounts and began removing suspicious accounts from users' followers to give a "meaningful and accurate" view of follower count.

But, it was Facebook-owned WhatsApp that faced the maximum heat after rumours circulating on the messaging platform incited mob fury and claimed over a dozen lives in various parts of the country. The toxic messages that spread on WhatsApp instigated riots in certain cases, as people forwarded and misinterpreted videos on the messaging platform.

Following government's warnings, WhatsApp recently named a grievance officer for India and announced the appointment of an India head -- a first for the country that accounts for most users across the world. It has launched a label that identifies forwarded messages and barred forwarding of messages to more than five people at one go.

As the Supreme Court voiced concerns over irresponsible content on social media, the government rushed to propose changes in IT Act's rules and released draft amendments which would require "intermediaries" to enable tracing of originators of information when required by government agencies.

In the political slugfest that ensued, the Congress alleged that if the amendments were cleared, there would be a tremendous expansion in the power of the "big brother" government on ordinary citizens, "reminiscent of eerie dictatorships". Some Cyberlaw experts have equated the changes in rules to India's own anti-encryption law.

The proposals require social media firms to deploy technology-based automated tools for proactively identifying, removing or disabling public access to "unlawful information or content".

If approved, these changes will place social media platforms -- even those like WhatsApp which promise users privacy and encryption -- firmly under government lens, forcing them to adopt stricter due-diligence practices.

The amendments -- which come ahead of the general polls in 2019 -- propose that platforms would have to inform users to refrain from hosting, uploading or sharing any content that is blasphemous, obscene, defamatory, hateful or racially, ethnically objectionable, or threatens national security.

When backed by lawful order, these platforms will have to, within 72 hours, provide assistance as asked for by any government agency. The IT ministry has met Facebook, WhatsApp, Twitter, Google and others to discuss the proposed changes and public feedback has been sought by January 15.

The seemingly-infallible tech behemoths are already being equated with big oil and big tobacco, in Western markets.

The larger question is whether the shifting public perception and recent moves by the government to regulate these habit-forming, new-age platforms would change the very essence of social media, once considered a harbinger of free speech and individual rights.

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Source: Moneycontrol

Oil prices rise, but set for first annual decline since 2015


Oil prices edged higher on the last trading day of the year on Monday, taking a cue from firmer stock markets, but remain on track for the first yearly decline in three years amid concerns of a supply glut.

Hints of progress on a possible US-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook.

Brent crude futures - the international benchmark for oil prices - rose 17 cents, or 0.3 percent, to $53.38 a barrel by 0115 GMT. Brent has shed about 20 percent in 2018 following two years of successive growth.

US West Texas Intermediate (WTI) crude futures were at $45.52 a barrel, up 19 cents, or 0.4 percent, from their last close. WTI is down nearly 25 percent this year.

Crude prices have been closely tracking equity markets during volatile trading for both asset classes last week.

"Investors are looking for bargains in an illiquid market (today)... If Trump gets over trade issues with China expect economic demand to surge," said Jonathan Barratt, chief investment officer at Probis Securities in Sydney.

"Also, drivers on Iran with waivers ending in May are still not been put to bed. Hence, it could get ugly at any time and I expect this is a diversion for Trump when needed," Barratt added.

US President Donald Trump said he had a "long and very good call" with Chinese President Xi Jinping and that a possible trade deal between the United States and China was progressing well.

Meanwhile, imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as US sanctions on Iran's oil exports took effect last month.

Asia's imports from Iran are set to rise again in December after the US granted temporary waivers to some countries, but is not known how much Iran will be able to export once the waivers expire around the start of May.

"Investors will require substantive indications from global economic fundamentals and oil inventories to move in positively on oil prices in 2018," said Benjamin Lu Jiaxuan, commodities analyst at Singapore-based brokerage firm Phillip Futures.

"We postulate for a gentle recovery for oil prices into the first quarter of 2019 though marked volatility can snap oil prices south in lieu of market uncertainties and key events such as Brexit, US-China trade truce deal, US monetary policy, US-Iran sanctions."

The current downward pressure on oil prices should likely taper off from January, when OPEC-led supply cuts commence, analysts said.

Earlier this month, the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, agreed to curb output by 1.2 million bpd starting in January in a bid to clear a supply overhang and prop up prices.

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Source: Moneycontrol

Gold set for first annual decline in three years


Gold fell on Monday as equities gained on likely progress in Sino-US trade standoff, amid bullion prices heading for their first annual decline since 2015, losing to the dollar mostly on trade worries and rising interest rates.

However, the precious metal was on track for its best month since January 2017, having scrambled back from sharp declines in the year due to volatility in equities and a subdued dollar, along with worries over slowing global growth.

Spot gold fell 0.2 percent to $1,277.96 per ounce as at 0442 GMT on Monday, near a six month high of $1,282.09 it hit on Friday.

US gold futures dipped 0.2 percent to $1,280 per ounce.

"The trade war concerns between the U.S. and China is slightly cooling down and that has lent support to the equity market," said Ajay Kedia, director at Kedia Commodities in Mumbai, adding that there is some profit booking in gold ahead of the year-end.

China's President Xi Jinping said on a telephone call with U.S. President Donald Trump on Saturday that he hopes to push forward a Sino-U.S. relationship that is coordinated, cooperative and stable, Chinese state media reported.

Gold prices jumped about 5 percent in December. The metal declined nearly 2 percent for the year.

The dollar index has gained 4.6 percent this year as the U.S. currency had been the preferred safe haven this year as the U.S.-China trade conflict unfolded against a backdrop of higher U.S. interest rates, denting gold's demand.

Higher interest rates make gold less attractive since it does not pay interest and costs to store and insure.

Gold dropped over 15 percent from a peak of $1,365.2 in April to a 1-1/2-year low in August this year to $1,159.96. The yellow metal has gained nearly 10 percent since then.

"Over concerns of a slowdown of global economic growth and rate hike, gold is likely to recover the loss since mid-June and rise back to the trading range between $1,300 and $1,350," Wing Fung said in a research note.

Among the precious metals, palladium has been the best performer this year, rising about 18 percent on strong demand from autocatalyst makers amid production shortages.

The metal was on track for a third straight year of gains, and was set to rise for a fifth consecutive month.

Silver rose 0.3 percent to $15.39 per ounce in the session. However, declined over 9 percent in the year.

Spot Platinum rose 0.1 percent to $790.40 per ounce on Monday, but slipped about 14.5 percent in 2018.

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Source: Moneycontrol

BAT attack foiled along LoC, two Pakistani soldiers killed


A major Border Action Team (BAT) action has been foiled along the Line of Control (LoC) in Naugam sector of Jammu and Kashmir by killing two intruders who are "likely Pakistani soldiers", the Army said on Monday.

"Army foiled a major BAT attempt to strike a forward post along the Line of Control in Naugam Sector in the early hours of Sunday," an Army spokesman said.

He said the intruders attempted to come in by exploiting the thick jungles close to the LoC and were assisted by heavy covering fire of high calibre weapons such as mortars and rocket launchers from the Pakistani posts.

"The movement was nonetheless detected by the vigilant Indian Army troops deployed along the LoC," he said.

The spokesman said the fire-fight initiated by Pakistan was given strong retaliation by the Indian Army and the exchange of fire continued the whole night.

"Own troops conducted prolonged search operations in thick jungles and difficult terrain conditions to ascertain the situation, which confirmed elimination of two likely Pakistani soldiers and resulted in recovery of a large cache of warlike stores. The search operations are still underway in the sector to sanitise the area," he said.

He said it was also reported that a few other intruders managed to escape across the LoC, taking advantage of the Pakistani firing and adverse weather and visibility conditions.

"Intruders were wearing combat dresses like Pakistani Regulars and were carrying stores with Pakistani markings further reinforced the assessment. Some intruders were also seen in BSF and old pattern IA dresses as part of deception," he said.

The spokesman said the intruders were well equipped with IEDs, incendiary materials, explosives and a plethora of arms and ammunition.

"From the recovery, it was estimated that they intended to carry out a gruesome attack on the Indian Army forward post in Naugam sector. The alertness and resilience of the own troops, who engaged and neutralised the intruders, thus eliminated a likely treacherous attack on the Army forward posts along the LoC on the eve of New Year," he said.

Army authorities have applauded the courage and perseverance of troops, the spokesman said, adding the Indian Army's resolve to keep a strict vigil along the LoC and defeat all such nefarious designs of Pakistan will continue to remain firm and consistent.

"We will ask Pakistan to take back the mortal remains of deceased likely Pakistani soldiers since Pakistan did provide full covering fire support to these intruders," the spokesman said.

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Source: Moneycontrol

Here are stocks that are in the news today:

Reliance Industries: Subsidiary Reliance Industrial Investments and Holdings Limited (RIIHL) entered into a binding agreement with renewable energy services company Kanoda Energy Systems Private Limited for acquisition of equity shares for a cash consideration not exceeding Rs 75 crore. The said investment upon completion will translate into 88 percent equity stake in KESL on a fully diluted basis.

Cadila Healthcare: Zydus Cadila received the final approval from the USFDA to market Clindamycin Phosphate and Benzoyl Peroxide gel which is used to treat a certain type of acne (inflammatory acne vulgaris).

Amber Enterprises: Promoters of Ever has requested for extension of time limit for completing the Conditions Precedent to enable Amber to acquire balance 51 percent of stake of total Share Capital of Ever. The company so far hold only 19 percent stake in the share capital of EVER. Considering the request, company has extended the timeline to complete the acquisition of balance stake of 51 percent by March 31, 2019 in one or more tranches.

Shilpi Cable Technologies: Shailendra Kumar, Chief Financial Officer has tendered his resignation.

CreditAccess Grameen: Company completed a direct assignment transaction of Rs 176.59 crore. With this transaction, the company has completed 5 securitization transactions and two direct assignment transaction totaling to Rs 909.70 crore in FY19.

AAVAS Financiers: Company received fresh refinance assistance of Rs 400 crore in addition to the approval of undrawn limit of Rs 100 crore pertaining to previous year, in December 2018.

Infibeam Avenues: Share purchase agreement amongst Unicommerce eSolutions Private Limited, Jasper lnfotech Private Limited and the promoters terminated as the conditions precedent were not fulfilled within the stipulated time period.

Butterfly Gandhimathi Appliances: CRISIL reconfirmed the credit rating on long term loan facility and short-term loan of the company.

Cords Cable Industries: CARE reaffirmed its BBB/Stable rating for company's long term bank facilities.

Rane Holdings: Pursuant to company exercising the entire 3,65,630 warrants (convertible into equity shares) held in its subsidiary- Rane (Madras) Limited (RML), the allotment committee of RML allotted equivalent number of equity shares as fully paid-up, to company.

Tasty Bite Eatables: ICRA upgraded long term rating of the company from A- to A and reaffirmed short term rating to A1.

Tata Investment Corporation: Company fixed January 11 as the record date for the purpose of determining the entitlement and the name of the equity shareholders who shall be eligible to participate in the buyback offer of the company.

JK Cement: Company closed its QIP and approved the issue price of Rs 695.80 per equity share.

Syndicate Bank: Government conveyed the sanction of Rs 1,632 crore to the bank towards contribution of the Central Government in the preferential allotment of equity shares.

Bharat Financial Inclusion: Company assigned a pool of receivables of Rs 849.36 crore to one of the largest private sector banks on a direct assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 3,864.91 crore in FY19.

IDBI Bank: Bank allotted 2,38,76,17,322 equity shares to Life Insurance Corporation of India at a price of Rs 60.73 per share aggregating to Rs 14,500 crore (Tranche 1) through preferential issue, as part of the ongoing acquisition of 51 percent controlling stake by LIC in the bank.

HDFC Bank: Bank allotted on a private placement basis 8.44% unsecured, redeemable long term, fully paid-up, non-convertible bonds in the nature of debentures amounting to Rs 6,000 crore.

Torrent Pharmaceuticals: Secured redeemable non-convertible debentures (NCDs) of Rs 166.65 crore out of the total NCDs of Rs 500 crore repaid by the company.

IL&FS Transportation Networks: Interest due and payable on December 28 on the NCDs was not paid to the debenture holders due to insufficient funds.

JSW Energy: CARE reaffirmed ratings on the long term bank facilities at BBB/Stable and on the short term bank facilities at A3 for Barmer Lignite Mining Company Limited, a JV between the company's subsidiary Raj WestPower Limited and Rajasthan State Mines and Minerals Limited. It also reaffirmed rating on the short term bank facilities at A2+ for JSW Power Trading Company Limited, a wholly owned subsidiary of the company.

HT Media: Company launched open offer of up to 1.73 crore shares of Next Media for Rs 27 per share.

Power Grid Corporation entered into a loan agreement for 200 million euros with Germany’s KfW for financing of transmission project for integration of clean energy and system strengthening.

Government conveyed its decision to invest Rs 5,500 crore in Oriental Bank of Commerce by way of preferential allotment. The meeting to consider this capital raise will be held on January 2.

Karnataka Bank raised its deposit interest rate by 10 basis points for domestic and NRE Rupee term deposits to 7.40 percent with effect from December 28.

Piramal Enterprises said it was considering raising Rs 100 crore via NCDs on January 2.

Ashok Leyland changed its object clause in which the company will engage in the business of developing, manufacturing and selling light commercial vehicles up to 7.5 tonne gross vehicle weight, power train for LCVs, and spare parts in India and other countries.

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Source: Moneycontrol

Market Live: Sensex starts over 150 points higher, Nifty clocks 10,900; autos, pharma gain


MARKET UPDATE Shares are off their high points, with the Nifty giving up 10,900.

The Sensex is up 57.16 points or 0.16% at 36133.88, and the Nifty up 22.80 points or 0.21% at 10882.70. The market breadth is positive as 944 shares advanced, against a decline of 408 shares, while 60 shares were unchanged.

MARKET OPENS Equities have begun the week on a good note, with the Nifty surging to 10,900-mark. 

The Bank Nifty, too, has seen a positive opening, up around half percent in early morning trade. 

The Sensex is up 165.73 points or 0.46% at 36242.45, while the Nifty is higher by 52.60 points or 0.48% at 10912.50. The market breadth is positive as 407 shares advanced, against a decline of 107 shares, while 25 shares were unchanged.

Other sectoral gainers include automobiles, metals, and pharmaceuticals, among others. The Nifty Midcap index has opened around half a percent higher. 

IndusInd Bank, State Bank of India, Indiabulls Housing and Hindalco have gained the most, while Kotak Mahindra Bank, Power Grid, and NTPC were the big losers. 

MARKET AT PRE-OPEN It is a strong start to the indices in pre-opening trade, with the Nifty hitting 10,900. 

The Sensex is up 166.58 points or 0.46% at 36243.30, and the Nifty up 53.10 points or 0.49% at 10913.00.

The Indian rupee has opened at 69.80 per US dollar against previous close of 69.94 per dollar.

RUPEE OPENS The Indian rupee has opened at 69.80 per US dollar against previous close of 69.94 per dollar. 

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Source: Moneycontrol

Saturday 29 December 2018

Restrictions on foreign e-commerce companies to hit FDI in India: US industry body


Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers.

Earlier this week, the government announced changes to the foreign direct investment policy for the ecommerce sector, which would end discounts and cashback offers that online platforms with foreign investment were offering.

Flipkart and US-based Amazon -- the two largest players in the burgeoning Indian e-commerce sector -- are expected to be hit the hardest once the new norms come into effect from February 2019.

"The new e-commerce restrictions announced by the government of India on December 26 are a cause for concern. While we are still trying to understand the full implications, we fear that these restrictions will have a far-reaching negative impact both on US investments and on Indian consumers,” said Nisha Desai Biswal, president of US India Chambers of Commerce (USAIC), a wing of the US Chambers of Commerce.

The former Assistant Secretary of State for South and Central Asia said the US-India Business Council (USIBC) said that a February 1 deadline is too rushed and does not allow sufficient time for companies to analyse the policy and to comply.

“We urge the government to delay implementation and allow time for comment before the policy goes into effect,” Biswal said.

Mukesh Aghi, president of US India Strategic and Partnership Forum (USISPF) said "this is not in the best interest of the Indian consumers".

"Coming out with such a major policy change overnight without any consultative process eats into the predictability” and reliability factor that all US companies are looking into India for any foreign direct investment," he said.

“I wish there was a little more consultative process, because you have companies like Walmart, which has put in USD 16 billion and they are in the process of putting more money to streamline their investment, it makes our job more difficult because how do I go and tell them please invest more and the policy would not change overnight,” said Aghi, who has been working with US companies to make large scale investment in India.

"I at the moment embarked on a campaign convincing US company manufacturing in China to move it to India. How do I tell them, hey policies overnight would not change,” he said, adding that with such policy pronouncements, India can't have a “transparent, predictable environment” which is a must for any foreign company to invest.

Referring to Union Commerce and Industries Minister Suresh Prabhu's remarks that he wants to focus on bringing USD 100 billion FDI to India, Aghi said the first thing is to have a predictability in a regulatory environment.

“This process sends the opposite message,” he said.

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Source: Moneycontrol

Bomb strikes tourist bus near Egypt's Giza Pyramids, kills 4


A roadside bomb hit a tourist bus on December 28 near the Giza Pyramids, killing three Vietnamese and their Egyptian guide, officials said. The bus was traveling in the Marioutiyah area near the pyramids when the crude roadside bomb, concealed by a wall, went off, Egypt's chief prosecutor Nabil Sadeq said in a statement.

The blast wounded 11 other Vietnamese tourists as well as the Egyptian driver. The bus was carrying a total of 15 Vietnamese tourists, according to Vietnam's Ministry of Foreign Affairs.

It said that 10 were seriously injured. Vietnamese Ambassador to Egypt Tran Thanh Cong visited the scene of the attack and Al Haram Hospital, where the victims were being treated, the ministry said.

Egypt has battled Islamic militants for years in the Sinai Peninsula in an insurgency that has occasionally spilled over to the mainland, hitting minority Christians or tourists.

However, this is the first attack to target foreign tourists in almost two years. The attack takes place as Egypt's vital tourism industry is showing signs of recovery after years in the doldrums because of the political turmoil and violence that followed a 2011 uprising that toppled former leader Hosni Mubarak.

It will likely prompt authorities to further tighten security around churches and associated facilities ahead of the New year's Eve celebrations and next month's Christmas celebrations of the Coptic Orthodox Church, the dominant denomination among Egypt's estimated 10 million Christians.

Over the past two years, militant attacks against Christians in Egypt - usually targeting churches or buses carrying pilgrims to remote desert monasteries - have killed over a hundred people.

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Source: Moneycontrol