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NIFTY analysis with experts, Bajaj Auto to enter E-Vehicles space by 2020, Indian markets make a comeback…. Market updates for 26/12/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Bajaj Auto to enter E-Vehicles space by 2020, Indian markets make a comeback…. Market updates for 26/12/18

Report by- Sabyasachi Bhattacharya



Bajaj looking to enter E-Vehicles space by 2020-

Bajaj Auto is looking to foray into electric vehicle space by 2020 with two and three wheeler products, said Rajiv Bajaj, managing director of the company, adding that “electric scooters or motorcycles would be an attractive space to be in”. Bajaj said that the company is aiming at 20-25 percent market share going forward. “We have moved from 15-20 percent and would like to move from 20-25 percent over the next 12 months,” he said. To gain 10 percent market share in two years would be remarkable for Bajaj Auto as 10 percent is three times the absolute market share of Yamaha after 35 years in India, he said. When asked if the next few months look difficult because of the global environment, he said instead they look interesting and exciting on back of “some interesting trends” that are emerging. “Over this financial year the three-tier structure of the industry which was 20 percent for entry level, 60 percent in value/mid-level and 20 percent at premium level has moved to 30-50-20 percent and is on its way to move to 35-40-25 percent structure,” he said. “This means the middle level market is getting squeezed out, which in turn is very good for Bajaj because we compete at the bottom and at the top level.” With regards to exports, he said the markets continue to be uncertain but the company by the year-end would have exceeded exporting over 2 million units across in a calendar year to 70 countries. “Exports would represent 40 percent of the company’s sales and so who can be a better ambassador for Make in India than Bajaj Auto?” he said. According to him, the best way to overcome challenges in the export market is by entering new markets and sharpening the product strategy. For the fourth quarter, the growth would be muted for the industry in terms of primary sales from companies to dealership although for retail it would continue at 10 percent year-on-year growth, he said. The biggest challenge for the industry would be to make the transition of the two norms related to safety and emission over the next 12 months, said Bajaj.

Source- MoneyControl, Purple Trades Research Department   



Indian markets recover after a brief Bearish period-

Chart source- Upstox

Indian markets had a good outing today as the Indian Index Nifty had a Open equals to high opening today after which it started moving downwards slowly. The Index did find a support at the 10,540 level after which the Index started moving upwards. The Index then started its bullish run and did not stop at all. The Index even broke previous days close and had a proper run for today. At the end of the day we can say that the bulls made a roaring comeback on a day that looked like a bearish day. A sharp recovery across sectors, particularly in the broader markets, helped the indices end sharply higher. The Nifty clocked 10,700 again and ended above that mark. Among sectors, maximum surge was seen among banks and infrastructure names, while IT and pharmaceuticals lost the most. At the close of market hours, the Sensex closed up 179.79 points or 0.51% at 35649.94, while the Nifty was up 66.40 points or 0.62% at 10729.90. The market breadth was negative as 1089 shares advanced, against a decline of 1441 shares, while 155 shares were unchanged. Airtel, Adani Ports, and Zee were the top gainers, while Sun Pharma and Yes Bank lost the most.




Let’s take a look at the heat map-


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

Global markets had a bearish day today. NASDAQ along with Asian Indices such as KOSPI and Straits Times were all seen in the RED. European Indices CAC and FTSE were seen in the RED. DAX was seen in the GREEN today along with NIKKEI.

Source- MoneyControl, Purple Trades Research Department   



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

  • 10,600 is a short term support for Nifty.
  • If Nifty breaks 10,600 then it has the potential to go down.
  • 10,760 is a short term resistance for Nifty.
  • If Nifty breaks 10,760 then it has the potential to go up.


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