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9:01 AM: After ending on an upbeat note on Thursday with key indices Sensex and Nifty hitting new all-time closing highs, the Indian stock market is all set to extend gains this morning, tracking positive cues from Asian bourses. Heavy buying by FIIs in recent sessions contributed significantly to the market’s rise to new highs, and more inflow from this set of buyers looks very likely in the near term. Though some profit taking is on the cards, a sharp and sustained decline looks very unlikely. Bank stocks may find some support, although worries about rising NPAs could limit their upside. Realty stocks had a good outing in the previous session, and some profit taking is not ruled out in that space. The rupee’s performance will set the trend for IT and healthcare stocks.
9:25 AM: The Indian stock market has opened on a buoyant note this morning, and the Sensex and Nifty have vaulted to new all-time highs in a flash.The Sensex has spurted to 21,656.82, up by about 143 points or 0.66%.The Nifty has surged to 6441.05, gaining nearly 40 points or 0.62%.Capital goods stocks are up sharply.Bank, realty, oil and power stocks are among the other major gainers.
10:05 AM: The market is on a roll today with the Nifty clenching 6400. The Sensex is up 172.45 points at 21686.32, and the Nifty is up 54.25 points at 6455.40. About 1149 shares have advanced, 636 shares declined, and 78 shares are unchanged. Global investors bought Indian shares worth Rs 1273 crore on Thursday, marking it their biggest daily purchase since December 19, regulatory and exchange data show. The rupee has hit a new three-month high. The euro hovered near a two-month high against the dollar early on Friday following a relief rally when the European Central Bank left its interest rates unchanged. Most other Asian currencies like rupiah and Taiwan dollar trading stronger compared with the US dollar.
11:04 AM: Nifty and Sensex scale fresh all time highs today. The Nifty has gained 7.5 percent since February13 with the Bank Nifty rising over 14 percent. The Sensex is up 310.03 points or 1.44 percent at 21823.90, and the Nifty is up 91.50 points or 1.43 percent at 6492.65. About 1227 shares have advanced, 1050 shares declined, and 102 shares are unchanged. The capital goods index is trading at a 15-month high today. ICICI Bank is up 8 percent while Axiz Bank gains 7 percent. L&T, Bharti and SBI jump 5-6 percent. Wipro, TCS lose around 3 percent each with weakness in rupee. Equity market sentiment, strong FII flows and strength in the likes of the euro support the rupee. Gilts trade tad lower due to lack of buying support and participation.
12:00 PM: The Sensex and Nifty shares continued to see hefty buying interest but the midcaps and smallcaps are reeling under pressure on profit taking. The Sensex rose 258.59 points or 1.20 percent to 21772.46 and the Nifty climbed 85.75 points or 1.34 percent to 6486.90. However, declining shares outnumbered advancing ones by a ratio of 1253 to 1130 on the BSE. The BSE Midcap and Smallcap indices slipped 0.4 percent each. BSE Bankex surged 5 percent followed by Capital Goods index with 4 percent upmove. Realty, Oil & Gas and Auto indices climbed 1-2 percent, but IT and Healthcare fell over 2 percent. Top private sector lender ICICI Bank is the lead gainer in the Sensex, rising 7 percent followed by State Bank of India and Axis Bank with 5-6 percent upmove. HDFC Bank spiked 3.5 percent.
1:15 PM: The NSE benchmark Nifty finally took out the 6500 level on Friday for the first time, on the back of strong and consistent FII inflows. Improving macroeconomic environment and hopes that a new stable government would be able to end policy paralysis has boosted sentiment in cyclicals. Techincals are taking over right now, says market watcher Dipan Mehta. “We need to keep an eye on the DIIs as to how much selling pressure still comes from them, because a lot of it has come off in recent times,” he told CNBC-TV18. After 6500, the next stop for the Nifty is likely to be 6700. That’s the word from Anu Jain of IIFL, who feels there is a change in the mix of the index. Tech and pharma are relaxing whereas banking and infra are now taking us there,” she said.
1:17 PM: The market continues to maintain the upswing with the Nifty hanging around 6500. The Nifty is up 96.25 points or 1.50 percent at 6497.40. The Sensex is up 311.52 points or 1.4 percent at 21825. About 1259 shares have advanced, 1332 shares declined, and 135 shares are unchanged. The rupee is trading at fresh 12-week high gaining past 61 per dollar for the first time since December 10 2013. Equity market sentiment, strong FII flows and strength in the likes of the euro support the rupee. Gilts is tad lower due to lack of buying support and participation.
2:30 PM: The market extends rally in last hour of trade with the Sensex rising 412.09 points or 1.92 percent to 21925.96 and the Nifty gaining 125.40 points or 1.96 percent to 6526.55. BSE Realty Index gains up to 6%, the most since September 17, 2012. NSE cash volume jumps over Rs 15,500 crore (at highest level since October 31, 2013) with 1 hour of trade remaining.
3:40 PM: Key indices Sensex and Nifty rose to new all-time highs as the bulls lapped up stocks on the Indian bourses on Friday.Encouraging current account data, heavy buying by FIIs and a stronger rupee lifted sentiment.The Sensex, which rose to 21,960.89, ended at 21,915.14 (provisional) with a gain of 401.27 points or 1.87%.The Nifty closed at 6525.60, slightly off a new high of 6537.80, gaining 124.45 points or 1.94%.Bank, capital goods, realty and oil stocks rallied sharply.Power and metal stocks too mostly ended with strong gains.Select consumer durables and automobile stocks ended on a high note.FMCG stocks ended mixed.IT and pharma stocks declined due to the rupee’s strong upmove.Midcap and smallcap stocks were mostly subdued.The market breadth was slightly negative.
* Multi Profitbuzz Performance (7th March 2014)
1. ICICIBANK (Profit Rs.31/share & 7750/Lot)
2. LT (Profit Rs.8/share & 4000/Lot)
3. NIFTY (Profit Rs.2750/Lot)
4. BANKNIFTY (Profit Rs.3000/Lot)
* Multi Profitbuzz Performance (6th March 2014)
1. MARUTI (Profit Rs.10/share & 2500/Lot)
2. SBIN (Profit Rs.25/share & 3875/Lot)
3. NIFTY(Profit Rs.2300/Lot)
4. NIFTY(loss Rs.750/Lot)
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