NEW DELHI: In a major development that will allow Indian investors access to the American market, the country's top bourse NSE has decided to
At the same time, Nifty - NSE's benchmark index comprising India's 50 top blue-chip stocks - would be traded on the Chicago Mercantile Exchange of the US.
The listing and trading arrangement for these indices, which are subject to regulatory approvals in India and the US, was announced by National Stock Exchange and CME in a joint statement on Wednesday.
Besides the cross-listing and licensing agreements, the two bourses have also entered into a "memorandum of understanding with respect to other areas of potential co- operation including related to development and distribution of financial products and services."
NSE's affiliate India Index Services and Products Ltd (IISL) has granted exclusive licence for Americas and Europe to CME Group for trading of Nifty 50.
Besides, NSE also announced an agreement to explore listing and trading of more India-linked products on Singapore Exchange Ltd, which already has a licence to trade in Nifty 50.
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hardul Kulkarni, Sr. Technical Analyst,
Anyone of these stocks, Mukta Arts, Digjam that you are tracking on the charts?
Shardul Kulkarni : I would say that Digjam is one of the stocks that can move actually a little bit downwards rather than moving upwards because if you see the volumes have come on the big red candles that have been formed, so I would not be too positive on this stock unless and until it actually crosses the upside levels of 16-16.5. Mukta Arts I do not track.
Do you track Man Industries on the charts?
Shardul Kulkarni : Yes, Man Industries, one of the very strong counters in the small-cap space. I would say that the company has recently got an order and the stock is factoring in all the positives, so presently I would say that the stock is a buy on declines and not a buy at current levels of 76-77. If the stock does decline to around 66-67, then yes, the long term pattern is unfolding in a very positive manner. So presently, we would buy the stock on declines not at current levels but yes, overall the pattern is very strong. The weekly and monthly charts clearly show strong upside from current levels, so you would say it is a buy on declines.
Charts, what are they saying today for Astral Poly?
Shardul Kulkarni : Presently, if you look at the charts, you see the volumes are very low on this particular stock, probably the monthly volumes are less than 20 lakh shares in the full month. So on the volume front, the volumes are not too attractive to go in and buy this particular counter but purely on the price pattern, the stock is very strong. It clearly shows a strong trend line on the lower side where the support existed around 160-165 levels, so probably someone who wants to buy into this particular counter should look at buying on dips near to around 170 levels. The stop loss for this trade should be at around 160 levels
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Texmo Pipes & Products attracts 52% premium
Positional calls: Gujarat Gas, Polaris Software Aditya Birla MoneyTechnical calls: KPIT Cummins, Allahabad & ICICI Bank HDFC Sec
Src: ET, DP blog and etc
1 comment:
Thank you for your post NSE enables investors to access US market. you have a nice post.
May 19, 2018 - US investors will now be able to trade in Indian derivatives market directly. ... This will enable NSE's trading members (domestic and foreign ... the CFTC provides US customers with increased access to foreign futures markets.
Kind regards
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