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Nifty analysis with experts, Baja auto and Tata Motors December sales review, Indian markets fallback on the second day of the year …. Market updates for 02/01/19

PurpleTrades - stock market courses > News > Nifty analysis with experts, Baja auto and Tata Motors December sales review, Indian markets fallback on the second day of the year …. Market updates for 02/01/19

Report by- Sabyasachi Bhattacharya

 

Bajaj auto December sales at 3.46 lakh units; a jump of 18%-

Bajaj Auto  on Wednesday reported total sales of 3.46 lakh units for December. This implies growth of 18 percent over 2.92 lakh units sold in December 2017. Its exports jumped 16 percent at 1.65 lakh units against 1.43 lakh units last year. Domestic sales have risen 21 percent at 1.8 lakh units against 1.49 lakh units year on year. Motorcycle sales grew 31 percent at 2.98 lakh units against 2.28 lakh units last year. Meanwhile, three-wheeler sales fell sharply by 26 percent at 47,344 units against 63,785 units last year. At 09:38 hrs Bajaj Auto was quoting at Rs 2,720.00, invideo_bajaj_decembersales_02jan.mp4down Rs 4.60, or 0.17 percent.

 Source-Purple Trades Research Department 

 

Tata Motors domestic sales fall by 8% to 50,440 units this December-

Tata Motors reported an 8 percent decline in domestic sales to 50,440 units in December as compared with 54,627 units in the same month last year. The company’s passenger vehicle sales in the domestic market rose 1 percent to 14,260 units last month, compared with 14,180 units in December 2017, the company said in a statement. “In December 2018, we have strived to maintain our growth trajectory during what was a rather sluggish period for the entire auto industry,” Tata Motors President Passenger Vehicles Business Unit Mayank Pareek said. The company said its commercial vehicle sales in the domestic market stood at 36,180 units in December, down 11 percent from 40,447 units in the same month last year.

Source-Purple Trades Research Department 

 

 

Indian markets witness a major Bearish day today-

Chart source- Upstox

Indian markets had a bearish day today. The market had a GAP_DOWN opening after which the market never really recovered. It fell very abruptly. During the late afternoon session the market did find a resistance at the level of 10,740 and after that the market did recover some points but it wasn’t enough to undo the damage that we saw in the markets today. Equities have ended the session off low points, but still in the red. Weak global and domestic cues weighed on the indices. The Nifty managed to give up 10,800. Weakness was visible among automobiles, banks, energy, metals and pharmaceuticals. The Nifty Midcap index, too, fell over a percent during the trade. At the close of market hours, the Sensex was down 363.05 points or 1.00% at 35891.52, while the Nifty down 117.60 points or 1.08% at 10792.50. The market breadth is negative as 941 shares advanced, against a decline of 1,577 shares declined, while 169 shares were unchanged. Sun Pharma and TCS were the top gainers, while Vedanta, M&M, Eicher Motors and JSW Steel lost the most.

 

 

 

 

 

Let’s take a look at the performance of major Indices-

Global markets had a bearish day today. Asian Indices along with European Indices CAC and DAX were all seen in the RED. NASDAQ was seen in the RED along with FTSE.

Source- MoneyControl, Purple Trades Research Department 

 

 

Key Points for Traders to watch out for while trading Nifty tomorrow-

  • 10,815 is a short term support for Nifty.
  • If Nifty breaks 10,815 then it has the potential to go down.
  • 10,900 is a short term resistance for Nifty.
  • If Nifty breaks 10,900 then it has the potential to go up.
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