Epic Research Update : Asian Markets

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Epic Research
Asian equities kicked off February on weak footing after data released over the weekend showed Chinese factory growth slumped to a six-month low in January. But trading volumes were light with several Asian markets, including Shanghai and Hong Kong, on holiday for the Lunar New Year. Japan’s Nikkei slipped 1.64 percent or 244.97 points at 14,669.56.

Singapore’s Straits Times declined 0.94 percent or 28.59 points at 2,998.63.

South Korea’s Seoul Composite fell 1.13 percent or 21.87 points at 1,919.28.
 
Epic Research Update : Asian Markets

Asian equity markets suffered heavy losses on Tuesday after Wall Street shares tumbled overnight as weak economic data sparked fears of a slowing US economy.

US stocks saw their worst start to February since 1933 after a manufacturing report heightened concern about the economy before Friday%u2019s monthly jobs report. Overall factory activity hit an eight-month low in January as new order growth plunged by the most in 33 years.

Japanese stocks tumbled to a new two-and-a-half month low for a fourth straight session after the yen jumped to a two-month high against both the US dollar and euro. The benchmark Nikkei is down over 10 percent since hitting a six-year peak of 16,320 points on December 30, placing the index firmly in correction territory.

Hong Kong%u2019s Hang Seng plunged 2.12 percent or 467.25 points at 21,568.17. Japan%u2019s Nikkei tumbled 2.58 percent or 377.57 points at 14,241.56.

Singapore%u2019s Straits Times shed 0.82 percent or 24.67 points at 2,966.28. South Korea%u2019s Seoul Composite declined 1.48 percent or 28.41 points at 1,891.55.
 
Epic Research Update : Asian Markets

A rebound on Wall Street spurred a comeback in most Asian equity markets on Wednesday, with Japan%u2019s Nikkei leading gains after posting its worst drop since June 2012 on Tuesday.

Japan%u2019s Nikkei gained 1.24 percent or 174.21 points at 14,182.68.

Hong Kong%u2019s Hang Seng was flat at 21,402.38 Singapore%u2019s Straits Times rose 0.44 percent or 12.93 points 2,978.73. South Korea%u2019s Seoul Composite added 0.63 percent or 11.86 points at 1,898.71.

Taiwan%u2019s Taiwan Weighted slipped 2.04 percent or 172.71 points at 8,289.86. China%u2019s Shanghai Composite is shut today.
 
Todays Market Analysis

After the severe cut on Tuesday, the market opened on a flat note today but slipped quickly. The Sensex is down 80.50 points at 20131.43, and the Nifty is down 20.05 points at 5980.85. About 359 shares have advanced, 189 shares declined, and 28 shares are unchanged. ITC, Reliance, HDFC, Infosys and Hindalco are top losers in the Sensex. Among the gainers are M&M, Tata Steel, Dr Reddy%u2019s Labs, Tata Power and L&T.
The yen got off to a weak start in Asia on Wednesday having retreated from multi-month highs as emerging markets stabilized and stocks rebounded, while the Australian dollar took a breather following a powerful rally.
 
Top five stocks to go short in a weak market

The Nifty has slipped in the red without purchasing backing above 6,550 level following five-day rally. Consistent with investigators, the Nifty is in an overbought zone in the fleeting graph examples and it is prudent to take a few benefits off the table.

Emulating are his stock suggestions on short side in suspicion of a frail business sector:

1. Sesa Sterlite: In a solid market, a doji emulated by negative light is prescribing end of bob for Sesa Sterlite which could be utilised to make short positions with a stop above Rs 189 for a focus of Rs 176.

2. Hindalco: Twenty five percent gratefulness in last six exchanging sessions has pushed this counter into over purchased region on easier timeline graphs. Moreover, in last exchanging session it has enrolled a Harami sort of example which has negative undertones in close term.

Any benefit booking may witness this counter focusing on the levels Rs 118-114. One can utilize this chance to short with a stop above Rs 125 for said targets.

3. ICICI Bank: Twenty percent gratefulness in last five exchanging sessions brought this counter near its discriminating safety levels put around Rs 1,236 from where benefit booking/selling weight could be seen.

Utilize this chance to go short for a focus of Rs 1,150 with a stop above Rs 1,236.

4. Reliance Industries: Vertical ascent from Rs 803 - 903 in last three exchanging sessions brought this counter to the down slanting pattern line on week by week channel. Here some offering weight might be normal. Consequently, short for a focus of Rs 861 and Rs 848 with a stoploss above Rs 904.

5. Tata Steel: This scrip seems to have lost its request around bulls in the wake of enrolling a top of Rs 435 in January 2014. From that point forward it has been constantly failing to meet expectations. This shortcoming on the graphs coupled with development stresses in Chinese economy may further hose the assumption for this metal major. Utilize this chance to short with a stoploss above Rs 373 for introductory focus of Rs 356-353. Read More

Online Share Broking Firms
 
Today's Asian Market Update

Indian ADRs ended mixed on Monday.
In the banking space, ICICI Bank gained 2.38 percent at USD 41.26.
HDFC Bank rose 2.41 percent at USD 38.23.
In the IT space, Infosys declined 1.19 percent at USD 59.65.
Wipro shed 0.8 percent at USD 13.65.
In the other sectors, Tata Motors was up 0.21 percent at USD 34.08.
Dr Reddys Laboratories was down 0.64 percent at USD 43.62.
 
Turmeric went down by 3.99%u0025 on sluggish demand.

Mentha oil future went down by 2.80% on weak demand.

Castor Seed future demand pick up by 0.83 %

Agri market was gone down. Dhaniya future was on weak demand by 0.81%. Cardamom fut fall by 1.53% weak demand in the spot market against increased supplies from producing regions. Chana went down by 1.64% as subdued demand. Soyabean and Jeera closed up by 0.43 and 1.33%. Turmeric was down by 3.99% as speculators release huge positions.
 
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