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NIFTY analysis with experts, Tata Motors owned Jaguar Land Rover to cut jobs, Indian end up slightly bullish…. Market updates for 18/12/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Tata Motors owned Jaguar Land Rover to cut jobs, Indian end up slightly bullish…. Market updates for 18/12/18

Report by- Sabyasachi Bhattacharya


Jaguar Land Rover, owned by Tata Motors will layoff people this 2019-

Tata Motors owned Jaguar Land Rover (JLR) is likely to cut jobs next year as part of its wider cost efficiency plans. However, the UK-based luxury carmaker refused to comment on reports in a section of the UK media over the weekend that the changes under its Charge and Accelerate transformation programmes could affect thousands of workers. “Jaguar Land Rover notes media speculation about the potential impact of its ongoing Charge and Accelerate transformation programmes,” a JLR statement said. “As announced when we published our second quarter results, these programmes aim to deliver GBP 2.5 billion of cost, cash and profit improvements over the next two years. Jaguar Land Rover does not comment on rumours concerning any part of these plans,” it noted. In October, the company posted a pre-tax loss of 90 million pounds as the sales of its luxury brands fell sharply in recent months. The JLR had blamed ongoing uncertainty over the future of diesel vehicles in Europe and around Brexit negotiations for its loss-making quarter. As part of its focus on improving profitability and cash flow, the JLR launched its two initiatives called “Charge” and “Accelerate”, to identify short-term cost and cash flow improvements as well as longer-term operating efficiencies. “Total profit, cost, and cash flow improvements of GBP 2.5 billion over the next 18 months are targeted. As part of this, the company has taken action to reduce planned spending by about GBP 500 million to GBP 4 billion per year this financial year and next,” the JLR had said. UK workers’ union, Unite, attacked British government policy for the troubles being faced by the country’s largest automotive manufacturer. “The government’s demonisation of diesel, it’s botched handling of Brexit and economic global uncertainty has seriously dented the hard work of Britain’s car workers in making their industry the jewel in the UK’s manufacturing crown,” a Unite spokesperson said. “Unite is not aware of any further job losses to those already announced and planned for early in the New Year at Jaguar Land Rover…Unite will continue to press the carmaker for assurances over the jobs and skills of our members, who have worked tirelessly over the past decade to make the company the global success story it is today,” the spokesperson said. The JLR, which is the UK’s largest automotive manufacturer, has the largest number of retailers for its cars in Europe, with around 800 outlets across 42 countries.

Source- MoneyControl, Purple Trades Research Department   




Indian markets bounced back after the election turmoil-

Chart source- ChartInk

Indian markets had a mixed outing today as the NSE Index fell at the starting of the day. It had a GAP_DOWN opening today after which the Index started rising upwards and had no plans to stop throughout the day. During the morning session the Index after the gap-down opening started falling for a brief period of time after which it encountered a support at the level of 10,825. Once the support was respected by the Index it started moving upwards. The day would have been good or swing traders as the Index started moving upwards in a swinging manner. On the daily chart the Index yet again formed a bullish candle which shows the strength of the BULLS haven’t died yet and there are no signs of BEARS yet. Sharp buying in last hour helped equity benchmarks end the session with gains of 0.20 percent. The Nifty ended above 10,900. Barring IT segment, all sectoral indices ended in the green. Major gainers included automobiles, banks, energy, metals and pharma, among others. At the close of market hours, the Sensex was up 77.01 points or 0.21% at 36347.08, and the Nifty up 20.30 points or 0.19% at 10908.70. The market breadth was positive as 1416 shares advanced, against a decline of 1117 shares, while 160 shares were unchanged. Sun Pharma, Vedanta, and Bajaj Finance gained the most, while Infosys, Wipro, ZEE and UPL were the top losers. Bulls are moving ahead with confidence as Nifty50 smartly recovered in the latter half of the session before signing off the day with a decent bull candle. Interestingly, initial dip into Monday’s bullish gap zone of 10,844–10,815 is bought into by the market participants. India VIX remained flattish and closed with marginal gains of 0.26 percent at 14.57 levels. Overall volatility fell down sharply from higher levels in last six trading sessions with surge in Put Call Ratio which suggests bulls grip in the market. On the option front, maximum Put open interest (OI) was seen at 10,000 followed by 10,800 strikes while maximum Call OI was at 11,000 followed by 10,900 strikes. Fresh put writing was seen at 10,900 followed by 10,800 strikes while Call writing was intact at 10,900 followed by 11,100 strike. Option band signifies a trading range in between 10,750 to 11,000 zones.






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 as most of the major Indices were seen in the RED. NASDAQ along with CAC, FTSE and Asian Indices such as NIKKEI and Hang Seng, KOSPI were all seen in the RED. The only Index that saw some type of gains today was the German Index DAX.

Source- MoneyControl, Purple Trades Research Department   



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

  • 10,880 is a short term support for Nifty.
  • If Nifty breaks 10,880 then it has the potential to go down.
  • 10,940 is a short term resistance for Nifty.
  • If Nifty breaks 10,940 then it has the potential to go up.


Top sectors that moved the market today-                            Data source- Moneycontrol



Top Gainers for today-                                                                                        Data source- Moneycontrol



Top losers for today-                                                               Data source- Moneycontrol


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