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18:56 IST

Hang Seng futures are currently trading at 28691-higher by 0.44% as compared to the previous closing price. The contract closed in the positive territory in the last trading session also.

In the Cash Markets, the Hang Seng index added 0.27% to close at 28,638.20 on Friday. The index closed near to its highest level since 3rd January. The Hang Seng index gained 0.7% for the week. The benchmark index also registered its sixth consecutive week of gains.

The Hang Seng index inched up today as traders remained upbeat in the run-up to the signing of the Phase 1 trade deal between Washington and Beijing.

The sub-index of the benchmark tracking energy stocks lost 1.2%, the financial sector added 0.2% and the IT sector ended 1.7% higher.

The Hang Seng China Enterprises Index edged down 0.12% to close at 11,267.48 on Friday. For the week, the index was up 0.5%.

Top gainers in the index include- Tencent Holdings Ltd (surged 2.2%), Galaxy Entertainment Group Ltd (rose 2.0%) and CK Infrastructure Holdings Ltd (advanced 1.3%).

Top losers in the index include- China Resources Land Ltd (plunged 3.4%), PetroChina Co Ltd (fell 2.2%) and China Shenhua Energy Co Ltd (dropped 1.6%) on Friday.

The U.S. President announced on Thursday that the Phase 1 trade deal with China could be signed shortly after 15th January. President Trump further said that the U.S. will begin negotiating the Phase 2 trade deal with China soon but that he might wait to complete any deal after the U.S. Presidential election at the end of the year.

Beijing said on Thursday that Vice Premier Liu He will visit Washington next week to sign the phase one trade deal with the U.S.

Around 1.45B Hang Seng stocks were traded today down from 1.69B in the previous session.

On the technical front, the RSI is currently at 67.4% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands and is heading upwards.

Overall Bias is Positive and Short-term trades can be initiated with tight Stop Loss and Take Profit targets. This trade can remain valid until Monday.


Trade Suggestion- Limit Buy At 28670 Take Profit At 28790 Stop Loss At 28610

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