Nifty End Flat a Head of FOMC and RBI Meet

Key Indices

Bse Sensex Major Resistance on Upside at 20011-20278-20545

Bse Sensex Major Support on Downside at 19542-19340-19073

Trend Deciding Level for Bse Index at 19809

Nifty Spot Major Resistance on Upside at 5962-6082-6202

Nifty Spot Major Support on Downside at 5714-5586-5466

Trend Deciding Level for Nifty Spot at 5834

Corporate Highlights

  • Arss Infra receives World Bank order worth Rs 147.5 cr in Orissa
  • Sun Pharma arm receives US FDA nod for generic version of Prevacid
  • HPCL's Rs 37000 cr Rajasthan refinery likely to get cabinet nod next week
  • Strides Arcolab's Sterile manufacturing facility, Bangalore gets warning letter from US FDA
  • L&T Construction wins orders worth Rs 1,793 cr in July-Sept
  • Aug WPI Inflation at 6.10% Vs 5.79% (MoM); Aug Core Inflation at 1.9% Vs 2.4% (MoM)
  • Cadila Healthcare launches cholesterol drug Lipaglyn in Indian Market
  • Lupin gets US FDA nod for generic Ambien extended release tabs
  • Rupee ends at 62.83/USD Vs 63.49/USD on Friday

Market Weekly Round Up

  • Nifty spot closed in the negative note yesterday, down 10 points and closes at 5840. In excess of the next couple of days it is expected to trend up till 5900. In this period the key support will be near 5804 and resistance will be at 5900. Further technical observations on the daily chart the index is trading above the Twenty-daily moving average (DMA) and the Forty-DMA, ie 5544 and 5665 respectively. The momentum indicator is trading in positive mode. Lying on the hourly chart, the Nifty is trading around the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 5862 and 5804 respectively, which are crucial intra-day levels. The hourly momentum indicator has turned negative. The market breadth was negative yesterday with 480 advances and 703 declines on the National Stock Exchange {NSE}.
  • Nse Nifty Fut Major Resistance on Upside at 5988-6116-6244
  • Nse Nifty Fut Major Support on Downside is at 5773-5686-5558
  • Trend Deciding Level for Nifty Fut at 5901
  • Nse Bank Nifty Fut Major Resistance on Upside at 10578-10766-10954
  • Nse Bank Nifty Fut Major Support on Downside at 10191-9992-9804
  • Trend Deciding Level for Bank Nifty Fut at 10379
  • 5 Daily Moving Average @ 5870
  • 50 Daily Moving Average @ 5711
  • 200 Daily Moving Average @ 5838
  • 5 Days Relative Strength Index @ 68 and 14 Days Relative Strength Index @ 59 INDICATES NIFTY PLACED IN BULLISH ZONE, WITH BULLISH MOMENT

Today Intraday Stock Tips

Buy Nifty Fut Nse Sep Above 5890 sl 5865 Tgt 5915-5940 {Or} Sell Nifty Fut Nse Sep Below 5840 sl 5865 Tgt 5815-5790

Buy Bank Nifty Fut Nse Sep Above 10445 sl 10400 Tgt 10195-10545 {Or} Sell Bank Nifty Fut Nse Sep Below 10350 sl 10400 Tgt 10300-10250

For more F&O, Best Stock Tips and Stock Market Tips visit www.charanwings.com

Bears Blow Punch to Bulls

Key Indices

Bse Sensex Major Resistance on Upside at 18780-19324-19868

Bse Sensex Major Support on Downside at 17930-17624-17080

Trend Deciding Level for Bse Index at 18474

Nifty Spot Major Resistance on Upside at 5506-5670-5833

Nifty Spot Major Support on Downside at 5252-5162-4998

Trend Deciding Level for Nifty Spot at 5416

Corporate Highlights

  • Zensar Technologies appoints an investment banker in New York to scout for acquisition between USD 25 mln and USD 75 mln in US
  • Mahindra Lifespace plans to raise about Rs 400 cr funds by issue of shares to institutional investors
  • ACC to invest Rs 600 cr for setting up a 15 lakh tonne factory at Kharagpur
  • Future Retail promoter creates pledge on 28.5 lakh shares
  • Ministry of Environment and Forests (MoEF) has slapped a penalty of Rs 200 cr on Adani Port
  • Rupee ends at 67.63/USD vs 66/USD on Monday

Market Round Up

  • Nifty tanks 209 points. The Nifty spot closed in the negative mode yesterday; down by 209 closes points at 5341. On the other hand, over the next couple of days it is expected to trend up till 5400. In this period the key support will be near 5300 and resistance will be at 5400. Further technical observations on the daily chart the index is trading below the Twenty-daily moving average (DMA) and the Forty-DMA, ie 5484 and 5612 respectively. The momentum indicator is trading in positive mode. Lying on the hourly chart, the Nifty is trading above the Twenty-hourly moving average (HMA) and Forty-HMA, ie 5470 and 5429 respectively, which are crucial intra-day levels. The hourly momentum indicators have turned positive. The market breadth was negative today with 307 advances and 867 declines on the National Stock Exchange {NSE}
  • Nse Nifty Fut Major Resistance on Upside at 5504-5663-5821
  • Nse Nifty Fut Major Support on Downside is at 5255-5165-5006
  • Trend Deciding Level for Nifty Fut at 5414
  • Nse Bank Nifty Fut Major Resistance on Upside at 9078-9466-9853
  • Nse Bank Nifty Fut Major Support on Downside at 8475-8260-7872
  • Trend Deciding Level for Bank Nifty Fut at 8863
  •  5 Daily Moving Average @ 5401
  • 50 Daily Moving Average @ 5713
  • 200 Daily Moving Average @ 5834
  • 5 Days Relative Strength Index @ 40 and 14 Days Relative Strength Index @ 40. INDICATES NIFTY PLACED IN BEARISH  ZONE, WITH NEUTRAL MOMENT

Today Intraday Tips

Buy Nifty Fut Nse Sep Above 5361 sl 5318 Tgt 5418-5460

Buy Bank Nifty Fut Nse Sep Above 8735 sl 8638 Tgt 8877-9028

For more F&O, Best Stock Tips and Stock Market Tips visit www.charanwings.com

COMMODITY WEEKLY OUTLOOK

BULLION

This week, there are ample of economic events including ECB, BOE and BOJ meeting which might keep gold prices volatile. The US economic data is also expected to remain on the positive which might increase the concern of tapering the quantitative easing. From the derivatives point of view, prices have increased while volumes and open interest have fallen, which indicates that traders are involved in intraday trading rather than carry-forwards from the current position. This shows that gold prices might remain under pressure in the coming week. The CFTC longs have fallen by 1.20%, more than the shorts which fell by 0.59% indicates that the investors are involved in short selling which might pressurize gold prices. American eagle coin sales have declined by 77%, lowest since 2007 in the month of August on the back of declining in gold prices at the international market. This might pressurize gold prices in the coming week. The geopolitical concern going around might also support the downside in the gold prices.

From the economic data point of view, euro zone economic numbers are looking not so optimistic. Market would eye the ECB and BOE meeting in which the ECB is expected to keep the interest rates unchanged which might pressurize shared currency and gold prices may decline. In the beginning of the week, PMI numbers are expected to remain positive along with the euro zone GDP which would support the shared currency and gold prices might limit its fall. However at the end of the week, German trade balance and industrial production are expected to increase at a slower pace which might pressurize euro and gold prices might decline. Any statement from the ECB chief Draghi might also weigh down gold prices. From the US, increase in construction spending and ISM manufacturing numbers might support the gains in the US dollar and gold prices might decline. Also the payroll numbers are expected to remain positive which would extend the gains in the dollar and the pressure on gold prices could be seen. Markets would eye the Fed meeting which is scheduled in the month of September in which the tapering of quantitative easing would be the major concern which might make gold prices volatile. At the MCX, appreciation of the rupee against the greenback might support the downside of gold prices. However volatility in rupee might make gold prices volatile. Hence investors should remain cautious as gold prices might remain volatile at the week end. Overall we recommend remaining on the selling side for this week.

Silver prices this week, also expected to remain volatile and might move in tandem with its peer gold. The ECB, BOE and BOJ meeting might make silver prices volatile. The American eagle one ounce silver coin sales have dropped to 3.625 million ounces in August, down from 4.407 million last month. This indicates that investors are not willing to purchase silver coins which might pressurize silver prices. The CFTC shorts have declined by 6.33% less in comparison to longs which have fallen by 9.47% indicates that the investors are involved in short selling which might pressurize silver prices. From the euro zone, market would majorly eye the ECB and BOE meeting in which the interest rates are expected to remain unchanged which might pressurize the shared currency and silver prices might decline. The PMI numbers are expected to remain positive along with the euro zone GDP which would support the shared currency and silver prices might rise. However at the end of the week, German trade balance and industrial production may increase at a slower pace which would erase the gains in the euro and silver prices might decline. Any statement from the ECB chief Draghi might also weigh down silver prices. Therefore euro is expected to remain weak which might weigh down silver prices. During the US session, the construction spending and ISM manufacturing data is expected to remain positive which would drive US dollar on the higher side and weigh down silver prices. The payroll numbers are expected to remain positive which would extend the gains in the dollar and the pressure on silver prices might be witnessed. Market would be eyeing the economic data of the US as the concern of tapering of quantitative easing might also increase which would be dependent on the optimistic economic data. This might also weigh down silver prices in the coming week. At the MCX, appreciation of the rupee against the dollar might support the downside of silver prices. However any volatility in rupee might make silver prices volatile.

The geopolitical concern going around might also support the downside in the silver prices. Hence investors should remain cautious as silver prices might remain volatile at the week end. Overall we recommend remaining on the selling side for this week.

BASE METALS

This week is a shortened trading week as the US markets would be closed on Monday due to Labor Day. From a data perspective investors will have a lot to digest before ending their sprint at next Friday’s non-farm payroll report. Before investors get to endure any vulnerability from the employment announcement, the global investors will have to pass though the series of PMI releases and Central Banks rate decision. The ECB, BOE and BOJ are likely to keep the benchmark rates unchanged, however any rhetoric by the Governing council members might continue to add volatility in financial assets including base metals. Amidst a growing possibility of an US attack on Syria for using chemical weapons on its citizen, we expect the market sentiments to remain at brink and should result in risk aversion limiting gains in base metals. The PMI manufacturing and services numbers are likely to remain favorable in China, euro-zone and UK. However the domestic PMI numbers might flatter a weak currency, limiting downside in base metals at the MCX. The industrial and manufacturing numbers in Germany and UK should increase at a slower pace with falling factory orders and might weaken the base metals at the LME. Weak euro-zone retail activity and appreciation of the dollar backed by positive US releases should weigh downside on base metals as the week progresses. The Fed’s Beige book might reflect a moderate economic recovery while the labor releases at the end of the week should also remain favorable for the US economy. However, we do not expect the gains might be witnessed in base metals due to higher risk aversion and appreciating dollar against major pairs. At the domestic front, weakness in the rupee might fail to result in sharp weakness, but any correction of the rupee against the dollar may result in falling prices of base metals at the MCX. Overall, we expect base metals to remain weak after a positive opening on Monday at the MCX and recommend initiating short positions. Lower spot activity coupled with geo-political concerns should weigh down on base metals in this week and economic releases might fail to remain under limelight.

ENERGY

In other major oil developments from the US last week, private funded API said weekly crude inventories rose 2.47 million barrels for the week ended August 23, higher than markets expectations whereas in product inventory data, gasoline stocks fell 1.13 million barrels. Refinery utilization rate also fell as summer driving season moves into its last leg. From the government backed Department of Energy, crude stocks saw and unexpected increase of 3 million barrels sharply higher than expectations while the Gasoline stocks fell by just 600,000 barrels way lower than streets and our own estimates. In the coming week, the data for week ended 30th August might show crude stocks falling marginally whereas the gasoline inventories should also witness extended fall and may support oil prices movement in the US. As also stated previously, our view is supported by a recent report from the AAA (American Automobile Association), which said more people will travel in the US this Labor Day than any of the September breaks since the 2008. AAA and IHS in a survey predicted 34.1 million people in the country would take a trip of 50 miles or more, 4.2% higher than compared to same data last year. US Labor Day falls on Monday, September 2.

On other part of the world, issues pertaining to the Middle-east could once again remain in the lime-light. Recent developments show US is ready to Strike Syria with or without the support of key ally Britain where in an unprecedented note, Prime Minister David Cameron couldn’t get his parliament’s approval for military action against Syria. Separately, Germany and France have also suggested for the UN council report before finally deciding on whether to go for political or military action against Syria. These cues have provided some support to global markets which got a small relief rally in equities on Friday and indirectly pressed down Crude and Gold prices from their peak point during the week. While markets would continue to critically watch fresh developments on this regard, speculation and volatility could see further increase due to the aforementioned issues. If U.S or other government really goes for a military action, prices could see a very sharp and sudden uptick both globally and locally. In that kind of a scenario though, Indian oil markets could once again see higher gains as geo-political issues would also impact the direction in the Indian Rupee negatively.

Cumulating all above factors, we may see oil prices recording high volatility in the coming week as well. On one side the US inventory data would be watched whereas markets would also keep close watch at the US developments regarding Syria. We expect possibility of wide swings into global oil prices for the coming sessions with the trading bias on the positive side. In India, there is risk that the Rupee could start seeing fresh depreciation which will once again lead to rise in disconnection between local and international oil prices. We recommend buying on declines to be a better strategy in India

TURMERIC

Turmeric prices are expected to trade on a positive note in the week ahead. Moderate demand ahead of the festive season from the North Indian traders is noticed at spot front. This may support the turmeric prices towards positive side. Daily arrivals are expected to decline in the coming week as farmers are withholding the stocks with them in anticipation of further rise in prices. Limited arrivals are likely to add some positive sentiments in the turmeric spot market. According to the state department of Agriculture, turmeric sowing has covered around 0.51 lakh hectares in Andhra Pradesh as of 28th August 2013 against the 0.53 lakh hectares reported for the same period last year. Hence, the marginal decline in the acreage amid lower production this year might further support the upside in turmeric prices. However, the total stocks at the spot markets of Nizamabad and Erode are around 1 Lakh MT and 50,000 MT respectively, which may limit the huge gains.

JEERA

Jeera prices are expected to trade on a higher note in the upcoming week on account of restricted arrivals. Rising political tensions in Syria which is known to be the second major producer of jeera after India is likely to encourage Indian jeera demand in the international markets. Further, reports of decline in the production of jeera in the major producing countries like Turkey, Syria and Iran might add positive sentiments in the jeera market. Prevailing rainy conditions in the major growing regions of Gujarat are creating a threat to stored produce which might also add to the upside. According to the trade sources, favorable rains in Gujarat and Rajasthan this year may divert the farmers to grow other remunerative crops like chana and mustard seed. Moreover, weakness in rupee against the dollar in the last few weeks is making jeera exports more active in the global market.

RED CHILLI

Chilli prices are expected to trade on a higher note in the upcoming week on account of overall positive sentiments noticed at the spot front. A heavy rain in Madhya Pradesh which accounts for 13-15% of total chilli production in India has damaged the chilli crop to some extent. This may add some positive sentiments in the market as most of the Guntur yard traders are expecting a better arrivals from MP region this year. According to the state department of Agriculture, chilli has been sown in around 0.24 lakh hectare in AP as of 28th August 2013 against 0.60 lakh hectare reported last year for the same period. Therefore, slow sowing progress in Andhra Pradesh which is the largest producer of chilli in Asia might further add upside in chilli prices.

CARDAMOM

Cardamom futures are expected to trade on a negative note in the week ahead. According to trade sources, the current season has begun officially from the first August 2013 and hence, the total arrivals during the season as of 25th August stood at around 1,441 tonnes against the 1,217 tonnes during the same period last season. Huge arrivals across the spot markets due to the peak arrivals season are likely to pressurize the prices. Almost two-thirds of the arrivals coming to the spot auctions are from fresh crops. This is likely to support the downside in cardamom prices. Apprehensions about the decline in production this year as most of the crops are expected to damage on account of incessant rains witnessed this year in Kerala might limit the huge fall in cardamom prices.

DHANIYA

Dhaniya prices are expected to trade on a range bound in the week ahead on account of prevailing mixed sentiments across the major spot markets like Kota, Ramganj and Baran in Rajasthan. According to the traders, domestic demand which was witnessed in the last 2-3 weeks due to the festive season is slowly waning from the market. This may add negative sentiments in the dhaniya market. On the other hand, due to the marginal decline in the production of dhaniya this year, the spice is likely to gather some stockiest demand. Marginal increase in daily arrivals compared to the past few weeks along with ample stocks at spot markets might further pressurize the dhaniya prices.

For more informnation Commodity outlookBest Stock Tips and Stock Market Tips visit www.charanwings.com

Bulls are Trying To Stand From Last Ground

Key Indices

Bse Sensex Major Resistance on Upside at 18766-18912-19057

Bse Sensex Major Support on Downside at 18376-18132-17986

Trend Deciding Level for Bse Index at 18522

Nifty Spot Major Resistance on Upside at 5521-5569-5617

Nifty Spot Major Support on Downside at 5393-5313-5265

Trend Deciding Level for Nifty Spot at 5441

Corporate Highlights

  • JSPL board to meet today to consider the buyback of shares
  • Jayant Agro Organics company in JV pact with Japanese company Mitsui Chemicals
  • L&T Hydrocarbon receives order worth Rs 807 cr
  • Lupin receives US FDA approval for Gatifloxacin
  • JSPL board approves buyback of equity shares at up to Rs 261/shares
  • Rupee ends at 65.70 to the dollar Vs 66.55 on Thursday

Market Round Up

  • Nifty sets itself the task of regaining lost ground. The Nifty Spot closed in the positively on Friday, up by 62 points closes at 5471. In excess of the next couple of days it is expected to trend up till 5510. In this period the key support will be near 5385 and resistance will be at 5510. Further technical observations on the daily chart the index is trading below the Twenty-daily moving average (DMA) and the Forty-DMA, ie 5510 and 5630 respectively. The momentum indicator is trading in positive mode on the hourly chart; the Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 5350 and 5385 respectively, which are crucial intra-day levels. The hourly momentum indicators have turned positive. The market breadth was positive on Friday with 628 advances and 526 declines on the Nse India.
  • Nse Nifty Fut Major Resistance on Upside at 5508-5559-5610
  • Nse Nifty Fut Major Support on Downside is at 5381-5305-5254
  • Trend Deciding Level for Nifty Fut at 5432
  • Nse Bank Nifty Fut Major Resistance on Upside at 9218-9371-9524
  • Nse Bank Nifty Fut Major Support on Downside at 8882-8699-8546
  • Trend Deciding Level for Bank Nifty Fut at 9035
  • 5 Daily Moving Average @ 5386
  • 50 Daily Moving Average @ 5715
  • 200 Daily Moving Average @ 5834
  • 5 Days Relative Strength Index @ 58 and 14 Days Relative Strength Index @ 45. INDICATES NIFTY PLACED IN TRADING  ZONE, WITH BULLISH MOMENT

Today Intraday Tips

Buy Nifty Fut Nse Sep Above 5490 sl 5444 Tgt 5515-5540 {Or} Sell Nifty Fut Nse Sep Below 5444  sl 5488  Tgt 5422-5400

Buy Bank Nifty Fut Nse Sep Above 9135 sl 9088 Tgt 9185-9235 {Or} Sell Bank Nifty Fut Nse Sep Below 9044 sl 9133 Tgt 8995-8945

For more F&O, Best Stock Tips and Stock Market Tips visit www.charanwings.com.

Bulls Can stir on Escort

Key Indices

Bse Sensex Major Resistance on Upside at 18639 18757 18875

Bse Sensex Major Support on Downside at 18309 18097 17979

Trend Deciding Level for Bse Index at 18427

Nifty Spot Major Resistance on Upside at 5524 5575 5626

Nifty Spot Major Support on Downside at 5376 5279 5228

Trend Deciding Level for Nifty Spot at 5427

 

Corporate Highlights

  • Barings to buy Hexaware for USD 400 million.
  • RIL-BP announce new deepwater gas condensate discovery in Cauvery Basin
  • Bank of Maharashtra raises base rate by 25 bps to 10.25% effective August 26
  • BEML seek to amend articles of association to include share buyback

Market Round Up

  • Nifty spot closes taxing week with gains. The Nifty closes in the positive mood on Friday, up by 63 points at 5471. Over the next couple of days it is expected to trend up till 5500. In this period the key support will be near 5440 and resistance will be at 5500. Further technical observations lying on the daily chart the index is trading below the Twenty-DMA and the Forty-DMA, ie 5619 and 5698 respectively. The momentum indicator is trading in negative mode. Lying on the hourly chart, the Nifty is trading around the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 5391 and 5440 respectively, which are crucial intra-day levels. The hourly momentum indicators have turned positive. The market breadth was positive today with 743 advances and 425 declines on Nse India.
  • Nse Nifty Fut Major Resistance on Upside at 5496 5531 5565
  • Nse Nifty Fut Major Support on Downside is at 5399 5337 5302
  • Trend Deciding Level for Nifty Fut at 5434
  • Nse Bank Nifty Fut Major Resistance on Upside at 9551 9646 9740
  • Nse Bank Nifty Fut Major Support on Downside at 9291 9126 9031
  • Trend Deciding Level for Bank Nifty Fut at 9386
  • 5 Daily Moving Average @ 5400
  • 20 Daily Moving Average @ 5619
  • 50 Daily Moving Average @ 5757
  • 200 Daily Moving Average @ 5843

5 Days Relative Strength Index @ 48 and 14 Days Relative Strength Index @ 40. INDICATES NIFTY PLACED IN TRADING  ZONE, WITH BULLISH MOMENT

Today Intraday Tips

Buy Nifty Fut Nse Aug Above 5490 sl 5465 Tgt 5515-5540 {Or} Sell Nifty Fut Nse Aug Below 5440 sl 5465 Tgt 5415 5390

Buy Bank Nifty Fut Nse Aug Above 9490 sl 9440 Tgt 9540 9590 {Or} Sell Bank Nifty Fut Nse Aug Below 9400 sl 9440 Tgt 9350 9300

For more F&O, Best Stock Tips and Stock Market Tips Visit www.charanwings.com.

Bears Taken Spin Bulls on Escort

Key Indices

Bse Sensex Major Resistance on Upside at 18512-18711-18910

Bse Sensex Major Support on Downside at 17942-17571-17372

Trend Deciding Level for Bse Index at 18141

Nifty Spot Major Resistance on Upside at 5473-5537-5601

Nifty Spot Major Support on Downside at 5301-5193-5129

Trend Deciding Level for Nifty Spot at 5365

 

 

Corporate Highlights

  • JSW Steel to hike price by 4-6% as coal gets costlier.
  • Sesa Goa shares gain on inclusion in the Sensex from August 27
  • Morgan Stanley overweight on Sun Pharma with a target price of Rs 619
  • Dr Reddy's Laboratories has voluntarily recalled 3 lots of Ranitidine Hydrochloride tablets in 150mg strength in the US market
  • Tech Mahindra: Global business scenario improving with US driving growth.
  • ICICI Bank ups base rate by 25 bps to 10% effective August 23
  • Zensar Tech signs multi-year contracts in US
  • I-T department is likely to have searched warehouses of 24 NSEL borrowers across India

Market Round Up

  • Bulls presume charge, Nifty spot closed in the positive today, up 106 points at 5408. Over the next couple of days it is expected to move up till 5504. In this epoch the key support will be near 5375 and resistance will be near 5438. Further technical observations on the daily chart the index is trading below the twenty-DMA and the forty-DMA, ie 5646 and 5710 respectively. The momentum indicator is trading in negative mode. Lying on the hourly chart, the Nifty is trading around the twenty-hourly moving average and the 40-HMA, ie 5375 and 5438 respectively, which are crucial intra-day levels. The hourly momentum indicators have turned positive. The market breadth was positive with 720 advances and 450 declines on the Nse India.
  • Nse Nifty Fut Major Resistance on Upside at 5477-5539-5600
  • Nse Nifty Fut Major Support on Downside is at 5302-5189-5127
  • Trend Deciding Level for Nifty Fut at 5364
  • Nse Bank Nifty Fut Major Resistance on Upside at 9485-9662-9839
  • Nse Bank Nifty Fut Major Support on Downside at 9071-8834-8657
  • Trend Deciding Level for Bank Nifty Fut at 9248
  • 5 Daily Moving Average @ 5408
  • 20 Daily Moving Average @ 5646
  • 50 Daily Moving Average @ 5762
  • 200 Daily Moving Average @ 5844
  • 5 Days Relative Strength Index @ 38 and 14 Days Relative Strength Index @ 36. INDICATES NIFTY PLACED IN BEARISH ZONE, WITH BEARISH MOMENT

Today Stock Market Tips

Buy Nifty Fut Nse Aug Above 5425 sl 5400 Tgt 5450-5500 {Or} Sell Nifty Fut Nse Aug Below 5375 sl 5400 Tgt 5350-5325

Buy Bank Nifty Fut Nse Aug Above 9380 sl 9330 Tgt 9430-9480 {Or} Sell Bank Nifty Fut Nse Aug Below 9285 sl 9330 Tgt 9235-9185

Visit charanwings.com to know more about Equity Market Outlook and Best Stock Tips

Equity News letter

 

Index {Spot}

Res 3

Res 2

Res 1

Trend Point

Supp 1

Supp 2

Supp 3

BSE SENSEX

19627

19824

20020

19514

19317

19204

19007

NSE NIFTY

6073

6009

5945

5908

5884

5807

5743

 

CORPORATE HIGHLIGHTS

  •  Adani Ports block deal: 3.1 cr shares exchanged hands
  •  Apollo Pharmacy halts sale of Ranbaxy drugs
  •  Lanco Infratech bags EPC contracts worth Rs 3294 cr
  •  Reliance Communication, Reliance Jio signs pact for tower sharing
  •  Aban Offshore gets order from ONGC for Rs 1,050 cr
  •  Tech Mahindra, L&T Infotech are considering to acquire Chennai-based Polaris' IT services unit
  •  Markets Last week: Nifty down 1.9%, Sensex down 1.8%; JM Fin up 17.9%, DRL, Rel Infra up 4%; Asian Paints, Sesa Goa down 5%

MARKET ROUNDUP

  •  Faction of rupee, macroeconomic data and trend in investment by foreign institutional investors will dictate trend on the bourses. A weakness in rupee against the dollar has triggered volatility on the bourses off late. The rupee hit near one-year low below 57 a dollar on Friday, 7 June 2013. A weak rupee makes imports costlier, stoking inflation concerns, thereby capping the Reserve Bank of India's scope to extend monetary easing and counter the slowest economic growth in a decade.
  • The Central Statistics Office (CSO) will unveil industrial output data for April 2013 on Wednesday, 12 June 2013. Industrial production rose 2.5% in March 2013, compared with a revised growth of 0.46% in February 2013. Industrial production rose 1% for the year ended 31 March 2013 (FY 2013).The CSO will unveil industrial output data for the month of April 2013 on 12 June 2013. Industrial production rose 2.5% in March 2013, compared with a revised growth of 0.46% in February 2013. Industrial production rose 1% for the year ended 31 March 2013 (FY 2013).The CSO will unveil data on inflation based on the combined consumer price index for urban and rural India for the month of May 2013 on Wednesday, 12 June 2013, and data on inflation based on the wholesale price index (WPI) for May 2013 on Friday, 14 June 2013.
  • The consumer price inflation fell below the 10% mark in April 2013. The combined consumer price inflation for rural and urban India eased to 9.39% in April 2013 from 10.39% in March 2013. The WPI eased sharply to 4.89% in April 2013, from 5.96% in March 2013. Meanwhile, WPI inflation for February 2013 was revised upwards to 7.28% from 6.84% reported earlier.
  • RBI undertakes mid-quarter review of the monetary policy on 17 June 2013. The RBI on 3 May 2013 cut its key policy rate viz. the repo rate by 25 basis points (bps) to 7.25% and kept the cash reserve ratio for banks unchanged at 4% after a monetary policy review. RBI said at that time that the balance of risks stemming from its assessment of the growth-inflation dynamic provides little space for further monetary easing. The RBI said it will endeavor to condition the evolution of inflation to a level of 5% by March 2014, using all instruments at its command. Investors will watch the figures of Q1 advance tax payment of India Inc which falls due on 15 June 2013.
  • The Q1 advance tax numbers could provide cues on Q1 June 2013 corporate earnings. Advance taxes are collected in four installments – 15% by 15 June; 40% by 15 September; 75% by 15 December and 100% by 15 March.
  • On the global front, Asian market will on Monday, 10 June 2013, react to the influential US monthly nonfarm payrolls report for May 2013 which is due for release on Friday, 7 June 2013.
  • Federal Reserve Chairman Ben Bernanke said last month that the bank could start scaling back its aggressive easing program in coming months if data continue to improve.
  • Mainland Chinese markets are closed from Monday, 10 June 2013, to Wednesday, 12 June 2013, for the Dragon Boat Festival.
  • Nse Nifty Fut Major Resistance on Upside at 5963-6030-6096
  • Nse Nifty Fut Major Support on Downside is at 5857-5818-5751
  • Trend Deciding Level for Nifty Fut at 5924
  • Nse Bank Nifty Fut Major Resistance on Upside at 12414-12560-12785
  • Nse Bank Nifty Fut Major Support on Downside at 12124-12020-11834
  • Trend Deciding Level for Bank Nifty Fut at 12310
  • 5 DMA @ 5917
  • 20 DMA @ 6039
  • 50 DMA @ 5878
  • 200 DMA @ 5785
  •  5 Days RSI @ 20 and 14 Days RSI @ 41. INDICATES NIFTY PLACED IN TRADING BEARISH ZONE, WITH BEARISH MOMENTUM.

 

Equity News letter

 

Index {Spot}

Res 3

Res 2

Res 1

Trend Point

Supp 1

Supp 2

Supp 3

BSE SENSEX

19627

19824

20020

19514

19317

19204

19007

NSE NIFTY

6073

6009

5945

5908

5884

5807

5743

 

CORPORATE HIGHLIGHTS

  •  Adani Ports block deal: 3.1 cr shares exchanged hands
  •  Apollo Pharmacy halts sale of Ranbaxy drugs
  •  Lanco Infratech bags EPC contracts worth Rs 3294 cr
  •  Reliance Communication, Reliance Jio signs pact for tower sharing
  •  Aban Offshore gets order from ONGC for Rs 1,050 cr
  •  Tech Mahindra, L&T Infotech are considering to acquire Chennai-based Polaris' IT services unit
  •  Markets Last week: Nifty down 1.9%, Sensex down 1.8%; JM Fin up 17.9%, DRL, Rel Infra up 4%; Asian Paints, Sesa Goa down 5%

MARKET ROUNDUP

  •  Faction of rupee, macroeconomic data and trend in investment by foreign institutional investors will dictate trend on the bourses. A weakness in rupee against the dollar has triggered volatility on the bourses off late. The rupee hit near one-year low below 57 a dollar on Friday, 7 June 2013. A weak rupee makes imports costlier, stoking inflation concerns, thereby capping the Reserve Bank of India's scope to extend monetary easing and counter the slowest economic growth in a decade.
  • The Central Statistics Office (CSO) will unveil industrial output data for April 2013 on Wednesday, 12 June 2013. Industrial production rose 2.5% in March 2013, compared with a revised growth of 0.46% in February 2013. Industrial production rose 1% for the year ended 31 March 2013 (FY 2013).The CSO will unveil industrial output data for the month of April 2013 on 12 June 2013. Industrial production rose 2.5% in March 2013, compared with a revised growth of 0.46% in February 2013. Industrial production rose 1% for the year ended 31 March 2013 (FY 2013).The CSO will unveil data on inflation based on the combined consumer price index for urban and rural India for the month of May 2013 on Wednesday, 12 June 2013, and data on inflation based on the wholesale price index (WPI) for May 2013 on Friday, 14 June 2013.
  • The consumer price inflation fell below the 10% mark in April 2013. The combined consumer price inflation for rural and urban India eased to 9.39% in April 2013 from 10.39% in March 2013. The WPI eased sharply to 4.89% in April 2013, from 5.96% in March 2013. Meanwhile, WPI inflation for February 2013 was revised upwards to 7.28% from 6.84% reported earlier.
  • RBI undertakes mid-quarter review of the monetary policy on 17 June 2013. The RBI on 3 May 2013 cut its key policy rate viz. the repo rate by 25 basis points (bps) to 7.25% and kept the cash reserve ratio for banks unchanged at 4% after a monetary policy review. RBI said at that time that the balance of risks stemming from its assessment of the growth-inflation dynamic provides little space for further monetary easing. The RBI said it will endeavor to condition the evolution of inflation to a level of 5% by March 2014, using all instruments at its command. Investors will watch the figures of Q1 advance tax payment of India Inc which falls due on 15 June 2013.
  • The Q1 advance tax numbers could provide cues on Q1 June 2013 corporate earnings. Advance taxes are collected in four installments – 15% by 15 June; 40% by 15 September; 75% by 15 December and 100% by 15 March.
  • On the global front, Asian market will on Monday, 10 June 2013, react to the influential US monthly nonfarm payrolls report for May 2013 which is due for release on Friday, 7 June 2013.
  • Federal Reserve Chairman Ben Bernanke said last month that the bank could start scaling back its aggressive easing program in coming months if data continue to improve.
  • Mainland Chinese markets are closed from Monday, 10 June 2013, to Wednesday, 12 June 2013, for the Dragon Boat Festival.
  • Nse Nifty Fut Major Resistance on Upside at 5963-6030-6096
  • Nse Nifty Fut Major Support on Downside is at 5857-5818-5751
  • Trend Deciding Level for Nifty Fut at 5924
  • Nse Bank Nifty Fut Major Resistance on Upside at 12414-12560-12785
  • Nse Bank Nifty Fut Major Support on Downside at 12124-12020-11834
  • Trend Deciding Level for Bank Nifty Fut at 12310
  • 5 DMA @ 5917
  • 20 DMA @ 6039
  • 50 DMA @ 5878
  • 200 DMA @ 5785
  •  5 Days RSI @ 20 and 14 Days RSI @ 41. INDICATES NIFTY PLACED IN TRADING BEARISH ZONE, WITH BEARISH MOMENTUM.