May 02, 2013, 09.02 AM IST
US mkts drop nearly 1%; CBOE VIX above 14
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The Dow Jones industrial average lost 138.85 points to close at 14,700.95. The Standard & Poor's 500 Index dropped 14.87 points to 1,582.70. The Nasdaq Composite Index declined 29.66 points to 3,299.13.
Also Read - Will weak global markets pull Nifty below 5900 again?
In key economic data, growth in manufacturing activity slowed in April. Construction spending declined in March to a seven-month low, according to the commerce department. Adding to woes, the US private sector added an unimpressive 119,000 jobs in April, according to the ADP National Employment Report.
Meanwhile the Federal Reserve kept interest rates unchanged as expected, and reiterated it will continue asset purchases until the labor market improves substantially. One minor change in the Fed's recent statement after the meeting is that the central bank would increase or decrease the pace of its asset purchases depending on conditions.
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In key data to watch out for in the US today, weekly jobless claims are seen coming in higher at 345,000. Also watch out for international trade data
European markets closed mixed with UK markets closing off its session highs, after weak employment data was released in the US. France and Germany were closed on Wednesday.
In commodities, Brent crude slipped to sub USD 100 per barrel. From the precious metals space, gold price slipped nearly 2 percent to USD 1450 an ounce.
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May 02, 2013, 08.51 AM IST
F&O cues: Total Puts add 31.5 lakh shares in OI
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Nifty options suggest market range of 5800-6000
Total Puts add 31.5 lakh shares in Open Interest (OI) on Tuesday
Total Calls add 17.5 lakh shares in Open Interest
5800 Put adds 8.7 lakh shares in Open Interest
5900 Call adds 3.7 lakh shares in Open Interest
5700 Put adds 7.8 lakh shares in Open Interest
6200 Call adds 6.2 lakh shares in Open Interest
6100 Call adds 4.7 lakh shares in Open Interest
6000 Call adds 3.9 lakh shares in Open Interest
5600 Put adds 3.6 lakh shares in Open Interest
5700 Call sheds 6.2 lakh shares in Open Interest
5900 Put sheds 2 lakh shares in Open Interest
Total Nifty Futures added 4.1 lakh shares in OI.
Nifty PCR at 1.08 versus 1.05
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Stock Futures sheds 33 lakh shares in OI
India VIX closed at 15.1, up by 5.37%
FIIs in F&O on April 30
FIIs net sell Rs 27 crore in Index Futures,; Index Futures Open Int contracts up by 13946
FIIs net buy Rs 1076 crore in Index Options; Index Options Open Int contracts up by 78391
FIIs net sell Rs 199 crore in Stock Futures; Stock Futures Open Int contracts up by 14234
FIIs net sell Rs 83 crore in Stock Options,; Stock Options Open Int contracts up by 12807
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Apr 30, 2013, 09.12 AM IST
Nifty may rally upto 5926-5947: Angel Broking
Angel Broking has come out with its
report on Indian markets. According to the research firm, the trend
deciding level for the day is 5897 levels. If Nifty trades above this level during the first half-an-hour of trade then may witness a further rally up to 5926-5947 levels.The Indian markets are expected to open in the green following strong start to SGX Nifty and major Asian indices after better-than-expected reading on US housing sales and amid speculation that central banks will continue the stimulation measures. The US markets ended on a positive note on Monday with S&P 500 closing at a record high as traders reacted positively to the latest batch of economic news. The strength on Wall Street reflected a positive reaction a report from the National Association of Realtors showing a bigger than expected rebound in pending home sales in the month of March.NSE BSE FREE TIPS
The pending home sales index rose by 1.5percent in March 2013 after falling by 1percent in February 2013. A separate report from the Commerce Department showed that personal spending climbed 0.2percent in March 2013 following a 0.7percent increase in February 2013. Meanwhile in India, renewed hopes of an interest rate cut at the RBI's monetary policy meet that is scheduled on May 3 helped stocks close higher on Monday. Going ahead, release of economic data points is likely to remain in focus on Tuesday, with traders likely to keep an eye on reports on home prices, consumer confidence, and Chicago-area business activity.
Markets Today:
The trend deciding level for the day is 19,367/ 5,897 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,449-19,511/5,9265,947 levels. However, if Nifty trades below 19,367/5,897 levels for the first half-an-hour of trade then it may correct up to 19,305-19,222/5,8765,847 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Apr 26, 2013, 10.04 AM IST
Sensex opens down; Idea gains 7.4%, Jet dips 3%
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Top gainers in the Sensex were Bharti Airtel, HDFC, Tata Steel, Bajaj Auto and Cipla. Losers included Hero Motocorp, Jindal Steel, M&M, SBI and TCS.
Idea Cellular shares were up around 5 percent after the company reported strong fourth quarter numbers. The telecom operator’s consolidated net profit grew by 34.7 percent quarter-on-quarter to Rs 308 crore in March quarter, helped by strong subscriber additions.NSE BSE FREE TIPS
Biocon shares were down around 3 percent on strong quarterly numbers, while Delta Corp shares were down 9 percent after reporting a loss in the fourth quarter.
Jet shares were down around 3 percent after rallying over 10 percent on Thursday following the deal with Etihad. Brokers say the stock is fairly priced at current levels.
ICICI Bank, Hero MotoCorp, Maruti Suzuki, Siemens, Sterlite Tech, LIC Housing Finance, Castrol India, Vijaya Bank, India Bulls Power will announce March quarter earnings today.
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Apr 23, 2013, 09.54 AM IST
Nifty likely to trade between 5880-5800 range: Magnum
Magnum Research has come out with its report on Indian markets. According to the research firm, Nifty is likely to trade between 5880-5800 with positive biasness. Indian markets rose for a second straight day on Monday to its highest close in a month led by gains in rate-sensitive stocks such as HDFC Bank, pricing in at least a 25 basis point rate cut in the upcoming policy on May 3. The BSE Sensex rose 0.81 percent, or 153.37 points, to end at 19,169.83, marking its highest close since March 18. The Nifty rose 0.89 percent, or 51.30 points, to end at 5,834.40, closing above the psychologically important 5,800 level.
The Reserve Bank of India is likely to cut interest rates next week for a third time this year, drawing comfort from a fall in inflation as it seeks to help lift the economy from its lowest growth in a decade. Most of analysts are expecting that the RBI to cut the repo rate by 25 basis points to a two-year low of 7.25 percent when it holds its policy review. Analysts also expect the RBI to sound more optimistic than its March policy as a slump in gold and crude prices is seen helping narrow the current account deficit.
Expectations that lenders' January-March earnings would beat estimates and a gain in European stock markets on a possible resolution to Italy's long-running political crisis, also help Indian stocks. European shares closed mixed after disappointing corporate and macroeconomic reports from the U.S. dented upbeat momentum from Italy after its successful presidential elections.FREE TIPS FOR NSE BSE
US Stocks ended in positive territory Monday, reversing their earlier declines, as strong gains in materials and energy offset weak housing data. Global cues are mixed today, with them SGX Nifty is showing 10 points up move in morning trade indicating that Indian market would open little positive today and Nifty is likely to trade between 5880 and 5800 positive biasness.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Apr 22, 2013, 10.16 AM IST
Rupee down 8 paise against dollar in early trade
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Also Read: Buy Indian Rupee April Fut on decline: ICICIdirect.com
Dealers attributed the rupee's fall to dollar gains against yen overseas after the G20 cautiously endorsed the Bank of Japan's huge stimulus measures. They said, however, euro's gain against the dollar and a higher opening of the domestic equity market, capped rupee's losses.STOCK FREE TIPS
The rupee had gained 25 paise to close at over one-month high of 53.96 against the dollar on Thursday after rally in equities. The forex and money markets remained closed on Friday for "Ramnavami".
Meanwhile, the BSE benchmark Sensex was up by 68.72 points, or 0.36 percent, at 19,085.18 in early trade today.
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Apr 18, 2013, 09.40 AM IST
Nifty stuck at 5700; HMT gains 8%
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The Sensex was up 56.93 points at 18788.09 and the Nifty gained 16.75 points or 0.29% at 5705.45.
Banking, metals and auto stocks were under some selling pressure. According to technical analyst, Sudarshan Sukhani, s2analytics.com volatility is likely to continue taking the Nifty to lower levels.NIFTY TIPS
Stock-specifically, TCS received lukewarm response in trade even though its fourth quarter earnings had beaten street estimates. The stock was down 0.7 percent.
The other big losers in the Sensex were Tata Motors, ICICI Bank, Bajaj Auto and Maruti Suzuki.
Meanwhile, HMT continued to extend the rally as it soared 8.6 percent as the CCEA is likely to consider HMT’s revival plan. The proposal is to infuse Rs 1083 crore into HMT.
RIL, HDFC, NTPC, Bharti Airtel and Bajaj Auto were the lead gainers in the Sensex.
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Apr 18, 2013, 09.14 AM IST
Indian rupee gains in early trade, opens at 54.14/USD
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According to Mohan Shenoi of Kotak Mahindra Bank, while rapidly falling crude prices is rupee positive, stabilizing gold prices have triggered demand, which is marginally negative for the rupee.FREE COMMODITY TIPS
"The range for the day is seen between 54-54.40/USD," Shenoi added.
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Apr 16, 2013, 10.43 AM IST
Nifty breaches 5600; bank, autos gain, Kingfisher falls 5%
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Gaining 3 percent, Tata Power was the big mover of the day.
The Central Electricity Regulatory Commission (CERC) has passed a landmark order allowing the company to raise electricity tariffs on a temporary basis at its Mundra power plant on account of rising cost of imported coal.
Uttam Galva was up 4.9 percent on the news that Posco will join hands with Uttam Galva Steel to set up a 3mtpa integrated steel plant at Satara in Maharashtra.GET FREE TRAILS
Other big movers of the day were Hero MotoCorp, Maruti Suzuki, L&T and HDFC.
Meanwhile, Kingfisher Airlines hit record low of Rs 6.90 per share down 4.8 percent on concerns that the ailing airline will never fly again.
Sterlite Industries, Infosys, Hindalco, TCS and Cipla were the other losers.
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Apr 15, 2013, 09.44 AM IST
BSE Sensex down 50; gold finance, jewellery cos crash
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The Sensex is down 52 points at 18190 and the Nifty is down 15 points at 5512.
BPCL, IndusInd Bank, Sun Pharma, HDFC and Tata Power are top gainers on the Nifty. DLF, Tata Motors, Sesa Goa, Jaiprakash Associates and Ranbaxy Labs are top losers.STOCK TIPS
China's economic recovery unexpectedly stumbled in the first three months of 2013 as the annual rate of growth eased back to 7.7 percent from the 7.9 percent pace set in the final quarter of last year, official data showed on Monday.
Gold sank more than 5 percent on Friday followwd by 3 percent today amid concerns about central bank sales and souring sentiment.
Gold finance companies like Muthoot Finance and Manappuram are down 8 percent each. Titan Industries is also down close to 3 percent.
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Apr 12, 2013, 09.40 AM IST
BSE Sensex slumps over 300 points, Infosys down 16.5 %
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The earnings season, expected to be wobbly, started off on a terrible note as Infosys disappointed the street with dismal fourth quarter earnings, collapsing 16.5 percent in the bargain. The company reported consolidated profit after tax of Rs 2,394 crore, up 1 percent quarter-on-quarter due to other income and lower tax. The consolidated operating profit is fell 8 percent at Rs 2462 crore compared to last quarter.
All the other technology stocks TCS (down 2.7 percent) and Wipro (down 4.5 percent) fell in tandem, dragging the BSE IT index by 9.7 percent.STOCK MARKET FREE TIPS
However, FMCG, pharma, bank and oil and gas stocks were in the green. ITC, HUL, Bajaj Auto were gainers on the Sensex.
Meanwhile, the market will be keenly watching the February's industrial output data to be announced later in the day. According to a CNBC-TV18 poll it is seen contracting by 1.7 percent year-on-year.
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Apr 11, 2013, 10.00 AM IST
Buy Nifty Future above 5620: R K Global
R K Global has come out with its technical report on Nifty. According to the research firm, one can buy Nifty Future above 5620 with stoploss 5600 for the target of 5660.Nifty gave more than 90 points rally from its days low and closed with a hammer kind candle at 5558.70. Along with the broader Index most of the index majors turned around and closed in green. As discussed its 38percent retracement level appeared as a support level, and in case of strong counter rally 5610-5670 could appear as major resistance zone on the upside. On the other hand as the dominant trend is bearish we still prefer avoiding any kind of buying so; in such classical down trend one should find where to take short position. STOCK MARKET FREE TIPS
Nifty (Fut): Trading Strategy-
Buy above 5620, target- 5660, stoploss- 5600.
Sell below 5480, target: 5440, Stoploss- 5500
Bank Nifty rebounded from its 38percent retracement level and ended up with a hammer candle. The way it recovered from days low and closed at highest point of the day at 11122.25, seems it can retest 11200. Most of the leading banks gave a strong pull back from day’s low, though one should not forget it is merely counter rally and trader should remain with dominant trend, so we recommend finding sell short opportunity on rise around crucial resistance levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Apr 11, 2013, 09.58 AM IST
Nifty may retest 5630-5650 on upside: Aditya Birla Money
Aditya Birla Money has come out with
its derivative report. The research firm says selling on cash front
stalling with hedging in Nifty unwounded, for a day expecting VIX to ease more, implying Nifty may retest 5630-5650 levels.Nifty PCR_OI moved marginally up at 0.88 (rebounding from low 0.80), with 5400 and 5500 PE saw addition of 13 and 6.5 lakh shares total OI 64.4 and 61.4 lakh shares on other hand 5700 CE saw unwinding of 2.1 lakh shares with total OI at 83 lakh shares (PCR-OI of 5600 at 0.92) implying immediate short term Nifty will find support at 5500-5450 levels. India VIX corrected 2 percent at 16.59 (intraday corrected from 17.5, 4th time in 3 months) though still above 16 levels, we have to watch for if moves below 16-15.5 and sustain below this levels, Bulls will have upper hand and pull back may continue Nifty may retest at 5630 levels. NIFTY TIPS
FIIs continue to be sellers in Nifty Fut. Rs 218 Cr. ( shorts continue again gaining momentum last 5 days sold 3416 Cr.); as we enter new series Index Options 1st time saw a selling 280Cr (hedging unwounded as VIX corrected from 17.5 levels, implying FIIs expect volatility to ease a bit more ), stock futures saw buying 608 Cr; selling stalled in cash as they turn buyers to the tune of 40 Cr. selling on cash front stalling with hedging in Nifty unwounded for a day expecting VIX to ease more, implying Nifty may retest 5630-5650 levels.
Over all PE writers were seen building positions; Index will find support 5450-5500 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Apr 10, 2013, 09.47 AM IST
Indian rupee higher; oil bids may support pair
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Pair may found some support from buying by oil companies with a 54.25-54.55 band tipped for the day.FREE TRAILS TIPS
Foreign funds have been sellers in Indian equities and debt for most of April after heavy purchases earlier in the year.
The yen bobbed around a nearly four-year low against the dollar on Wednesday, with strategists expecting the Japanese currency to break below the 100-yen level on the burst of momentum created by the Bank of Japan's most ambitious monetary expansion campaign announced last week.
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Apr 09, 2013, 09.36 AM IST
Will Sebi call auction rule curb rigging in illiquid shrs?
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Sebi has defined an illiquid stock as one in which the average daily volume in a quarter is less than 10,000 shares, the average daily number of trades is less than 50, and the stock is classified as illiquid on the stock exchanges it is traded. All three conditions have to be met for the stock to be fall in the call auction category.
In normal market, buy and sell orders are placed on an ongoing basis during trading hours, and get executed if they match. In the call auction process, there will be auction sessions of one hour each throughout the trading hours with the first session starting at 9:30am. Of this one hour, 45 minutes shall be allowed for order entry, order modification and order cancellation, 8 minutes for order matching and trade confirmation and remaining 7 minutes shall be a buffer period. All unmatched orders remaining at the end of a call auction session will be cancelled.
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Sebi's intent behind the move is curb price manipulation which more rampant in illiquid shares of small and midcap companies. The market is divided on the new rule. Some argue that this will trigger a reinforcing cycle as genuine investors will avoid illiquid stocks, worried of not getting a quick exit, and that will make the stocks even more illiquid. A better move would have been to identify stocks in which there are strong grounds to suspect manipulation, and then take stringent action against the offenders, they argue.
Also, as a report in the DNA points out, there are loopholes in the new rule. For instance, Westlife Development Ltd, owner of Hardcastle Restaurants, which operates the McDonald's restaurant chain, has escaped being classified as an illiquid stock, despite average daily trading volumes being less than 10 shares. That is because on March 22, over 6 lakh shares changed hands, boosting the daily average trading volume for the quarter.
Apr 09, 2013, 09.06 AM IST
Indian Rupee opens at 54.49/dollar
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The euro rose to 1.30 to the dollar. The dollar index slips towards the 82.50 mark. Meanwhile, the yen pushed deeper into multi-year lows versus the dollar.
Agam Gupta, Standard Chartered Bank said, "We expect a general risk on sentiment for the rupee due to the dollar's weakness overnight. Lower Chinese inflation also supports the currency and it may range between 54.40-54.70/USD."
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Apr 05, 2013, 09.56 AM IST
Rupee higher; US non-farm payroll data key
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Dealers expect INR to remain bearish in the near term on political as well as current account deficit concerns.
Local stocks see two sessions of big falls, raising concerns about foreign fund pullout.FREE TIPS
Technical charts show next key resistance at 55.15, the March 4 high and the important 76.4 percent retracement on the 55.89-52.87 decline.
However, 54.95-55.00 should cap ahead of the U.S. non-farm payroll data.
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Apr 04, 2013, 10.07 AM IST
Nifty may touch 5710: SMC Global
According to report on Indian market by SMC Global, all emerging markets are trading in red. Nifty is likely to witness a range of 5600 on declines and 5710 on advances in the coming session.
The market is expected to open on a negative note tracking weak Asian markets. Asian stocks fell to a five-week low and metals declined as the Bank of Japan concludes a two-day policy meeting, while Australia’s dollar rose. U.S. stocks fell sharply Wednesday, with the benchmark indexes taking their worst hit in more than five weeks, after labor-market data disappointed ahead of Friday’s nonfarm payrolls report. As per provisional figures, foreign institutional investors (FIIs) sold shares worth a net Rs 368.39 crore on 3rd April 2013. Domestic institutional investors bought shares worth Rs 37.73 crore on that day.
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Nifty technical outlook: Today the markets are likely open on negative note. All emerging markets are trading in red. The coming session is likely to witness a range of 5600 on declines and 5710 on advances.
World market commentary:
In last session all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) ended in red. Dow was down by 0.76percent and closed at 14550; S&P 500 was shed by 1.05percent at 1554. European indices ended in red. FTSE was down by 1.08percent, DAX shed by 0.87percent & CAC 40 was down by 1.32percent. Today major stock markets in Asia are trading in red. Shanghai Composite is down by 0.11percent at 2225 and Hang Seng is down by 0.14percent at 22337. Japan’s Nikkei is down by 1.72percent at 12149 and Singapore’s Straits Times down by 0.25percent at 3314.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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The market is expected to open on a negative note tracking weak Asian markets. Asian stocks fell to a five-week low and metals declined as the Bank of Japan concludes a two-day policy meeting, while Australia’s dollar rose. U.S. stocks fell sharply Wednesday, with the benchmark indexes taking their worst hit in more than five weeks, after labor-market data disappointed ahead of Friday’s nonfarm payrolls report. As per provisional figures, foreign institutional investors (FIIs) sold shares worth a net Rs 368.39 crore on 3rd April 2013. Domestic institutional investors bought shares worth Rs 37.73 crore on that day.
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Nifty technical outlook: Today the markets are likely open on negative note. All emerging markets are trading in red. The coming session is likely to witness a range of 5600 on declines and 5710 on advances.
World market commentary:
In last session all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) ended in red. Dow was down by 0.76percent and closed at 14550; S&P 500 was shed by 1.05percent at 1554. European indices ended in red. FTSE was down by 1.08percent, DAX shed by 0.87percent & CAC 40 was down by 1.32percent. Today major stock markets in Asia are trading in red. Shanghai Composite is down by 0.11percent at 2225 and Hang Seng is down by 0.14percent at 22337. Japan’s Nikkei is down by 1.72percent at 12149 and Singapore’s Straits Times down by 0.25percent at 3314.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Apr 03, 2013, 09.44 AM IST
Nifty may touch 5800: Aditya Birla Money
According to report by Aditya Birla Money, as long as support at 5720 holds in Nifty, up move to continue towards 5800 levels.
Nifty traded with a positive bias edging higher towards 5750 zone. Nifty has been moving up in a rising channel with the up move of last three days. As long as the rising trend line at 5720 holds, the index could edge higher towards 5800 levels. If however the rising trend line at 5720 is breached, the index could correct the recent rise edging lower towards 5670-5650 levels. Daily momentum has given a positive crossover from oversold zone indicating that any fall now is likely to witness good buying interest.STOCK MARKET FREE TIPS
Outlook and strategy:
As long as support at 5720 holds, up move to continue towards 5800 levels.
Bank Nifty traded with a positive bias edging higher towards 11600 zone. For the day, resistance at 11600 zone is crucial; failure to breach past would lead to the index correcting the run up of last 3 days towards 11350-11300. On the lower side breach of support at 11500 would be first sign of weakness creeping in. If however the index is able to breach and sustain above 11600, the ongoing rally could extend towards 11800 levels. Daily momentum has given a positive crossover from oversold zone indicating that any fall now is likely to witness good buying interest.
Outlook and strategy:
Strong resistance at 11600 zone; breach and sustenance would lead to up move continuing towards 11800 whereas failure to sustain would lead to selling pressure creeping in pushing prices lower towards 11350-11300.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nifty traded with a positive bias edging higher towards 5750 zone. Nifty has been moving up in a rising channel with the up move of last three days. As long as the rising trend line at 5720 holds, the index could edge higher towards 5800 levels. If however the rising trend line at 5720 is breached, the index could correct the recent rise edging lower towards 5670-5650 levels. Daily momentum has given a positive crossover from oversold zone indicating that any fall now is likely to witness good buying interest.STOCK MARKET FREE TIPS
Outlook and strategy:
As long as support at 5720 holds, up move to continue towards 5800 levels.
Bank Nifty traded with a positive bias edging higher towards 11600 zone. For the day, resistance at 11600 zone is crucial; failure to breach past would lead to the index correcting the run up of last 3 days towards 11350-11300. On the lower side breach of support at 11500 would be first sign of weakness creeping in. If however the index is able to breach and sustain above 11600, the ongoing rally could extend towards 11800 levels. Daily momentum has given a positive crossover from oversold zone indicating that any fall now is likely to witness good buying interest.
Outlook and strategy:
Strong resistance at 11600 zone; breach and sustenance would lead to up move continuing towards 11800 whereas failure to sustain would lead to selling pressure creeping in pushing prices lower towards 11350-11300.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Apr 02, 2013, 10.07 AM IST
Rupee lower, bunched-up inflows seen
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"There could be some supply initially on weekend inflows, but bids should emerge later during the day," says a private bank dealer.
Indian forex markets were shut on Friday and Monday for holidays.
The pair tipped to be in a 54.25-54.55 band for the session.FREE TIPS
The yen shot to a one-month high against the dollar on Tuesday after softer-than-expected US manufacturing data prompted investors to sell the greenback.
India said on Thursday it would do what was needed to tackle its current account deficit, after heavy oil and gold imports together with muted exports drove the gap to a record high in the December quarter.
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Apr 02, 2013, 09.47 AM IST
Sensex sluggish; autos under pressure on weak March sales
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The Sensex was at 18875, up 11 points and the Nifty at 5702, down 2 points.
Mahindra & Mahindra was an exception to the bearish trend in the auto space, with the stock slightly up over its previous close. M&M reported a 7 percent rise in March sales. Brokerage house JP Morgan has retained its 'overweight' rating on the stock, while cautioning on risks from "a sharper-than-expected increase in competition in the SUV segment; a delayed recovery in tractor segment sales; any delays in a turnaround at its two-wheeler and CV subsidiaries."
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Laggards in the Sensex included Tata Motors, Bajaj Auto, Idea Cellular and United Spirits, down 1-2 percent.
Select midcap and small cap shares were in demand, but brokers said the outlook on the broader market remained wary.
"There will not be much cheer for the next six months in terms of corporate earnings; the focus will be on incremental government announcements on reforms," said Sandeep Bhatia of Kotak Securities, in an interview to CNBC-TV18.
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Apr 01, 2013, 09.39 AM IST
Sensex starts steady; BHEL, ABB lead early gainers
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The Sensex was up 46 points at 18,881, and the Nifty up 11 points at 5693.
India was among the better performers in Asia this morning, and brokers said the recovery was being driven partly by technical factors.
Hindustan Copper, BHEL and ABB were among the big gainers in early trade, rising around 3 percent each. Auto shares will be in focus as the companies announce their sales for March. Most analysts are not expecting any major surprise in sales numbers, which has been under pressure for the last couple of months.
JSW Steel, Havells India, Sterlite Industries and Sesa Goa were among the big laggards, down around 3-4 percent.STOCK MARKET FREE TIPS
Dhiraj Agarwal of Standard Chartered Securities expects the market to remain challenging near term. He says the earnings performance for the January-March quarter may not meet market expectations. Also, the macro-economic situation has been worsening despite the reform measures by the government.
However, Saurabh Mukherjea of Ambit Capital is of the view that the overall mood in the market is so negative that many investors are missing signs of improvement in the economy.He does not expect the Nifty to fall below 5500, and says that the economy is turning around. This and a declining interest rate environment should provide a solid base for the market to rally here on, he says.
Technical analyst Sudarshan Sukhani is bullish on Reliance Industries and Coal India and is recommending his clients to go long on these stocks. He says the correction in Reliance Industries is done for now, and expects the stock to rise to Rs 785 near term. Sukhani has a target of Rs 320 for Coal India. He is very bearish on Tata Motors, saying that the technical chart indicates weakness. He is advising clients to sell the stock with a target of Rs 255.
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Apr 01, 2013, 09.10 AM IST
S&P 500 sets new record closing on positive data
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Cues from EuropeEnd March with 10 straight months of gains
German retail sales up 0.4% in February
Unemployment levels risen in Germany
Cues from Europe - Latest on CyprusBanks reopened on Thursday after 2 weeks
No signs of panic withdrawal
Italy: Fears Continue Negotiations to form coalition failed on Fri
Data Cues this week
Monday: ISM report
ThursdayBoJ policy meeting
BoE bank rate & asset purchase decision
ECB interest rate announcement
Friday US Non farm payroll
Unemployment rate for March
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Mar 29, 2013, 09.14 AM IST
Asia trading mixed; Shanghai Composite up, Nikkei flat
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Japan's Nikkei was flat at 12,331.44.
South Korea's Seoul Composite gained 0.67% or 13.45 points at 2,006.97.
Taiwan's Taiwan Weighted rose 0.29% or 22.55 points at 7,889.43.FREE TIPS
Straits Times and Hang Seng shut today.
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Mar 26, 2013, 10.19 AM IST
India's wall of worry: Can bulls leap over it this time?
Bad macro data, political uncertainty, inflation, strong dollar and renewed problems in Eurozone are the key factors playing on investors' minds for now, says a strategy report by Morgan Stanley.
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Bad macro data: There has been little respite from bad data, be it GDP growth, the CAD or CPI. Market participants appear unwilling to be forward-looking.
Election blues: The political backdrop is uncertain, creating doubt about the ongoing fiscal consolidation, since history suggests that the government expenditure rises in election years.
CPI (consumer inflation): The CPI is the symptom of the ills that the Indian economy has accumulated via policy choices. Even though these policies are unwinding, the problem is that consumer inflation expectations are so well entrenched that the CPI may take its own sweet time to decelerate.
QE and DXY (dollar index): QE has been an important starting point of the market’s move in 2012. A threat of decreasing QE and the associated appreciation of the U.S. dollar worries the market.
European woes: The CAD is still high and growth and share prices will not be able to tolerate a serious risk-off (adverse global news hurting money flows into equities).
And yet, the long list of worries could well turn out to be an opportunity in diusguise, point out Morgan Stanley strategists Ridham Desai, Sheela Rathi, and Utkarsh Khandelwal.
"As usual when share prices are falling, the positives take a back seat-but it is worth pointing out that valuations are attractive, the growth cycle is at an inflexion point, and that bad sentiment is a good contra-indicator for stock returns," say the trio in their strategy note.
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Mar 26, 2013, 09.59 AM IST
Nifty to trade with downward bias: Magnum
Magnum Research has come out with its report on Indian markets. According to the research firm, Nifty is expected to trade between 5680-5580 range with downward biasness.
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Indian markets fell for a seventh consecutive session on Monday to its lowest close in four months as blue chips such as ICICI Bank were hit by worries that other allies would remove support from the ruling coalition after the DMK party's withdrawal last week. NSE Nifty fell 0.31 percent, or 17.50 points, to end at 5.633.85, touching its lowest close since November 27 and falling 4.7 percent over the past seven sessions, its longest losing streak since an eight-session fall that ended on November 21, 2011.
Now Nifty is hovering just above its 200-day moving average, even as Asian markets rallied on Monday after Cyprus clinched a last minute bailout deal. Domestic factors continue to remain crucial for shares after the RBI last week stuck to its cautious stance on future rate cuts and key ally Dravida Munnetra Kazhagam (DMK) withdrew from the ruling coalition. The twin developments raised fears about economic growth and about the government's fiscal reform agenda and are further pressuring the Nifty that is already down 4.6 percent for the year. Political concerns have been aggravated by recent media reports suggesting Samajwadi Party (SP) could also withdraw its support to the ruling coalition.STOCK MARKET FREE TIPS
European shares erased their early gains to finish in negative territory Monday, pressured by banks, after comments from the head of the Eurogroup who said a Cyprus bailout deal could be a new template for resolving euro zone banking problems. US Stocks bounced off their worst levels but still ended in negative territory Monday, as initial euphoria over Cyprus fizzled. Global cues are subdued today with them SGX Nifty is showing 28 points cut in morning trade, Nifty is expected to trade between 5680 and 5580 with downward biasness.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 25, 2013, 10.01 AM IST
Rupee near one-week high on debt rules, risk sentiment
The rupee is near a one-high in line with positive global risk sentiment and on the government move to allow investment in debt by foreigners, traders said. The pair at 54.09/10 versus 54.33/34 Friday close, hitting its lowest level since March 19 in trade.
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India will ease restrictions for foreign institutional investors in government and corporate bonds next month to attract inflows and help fund a widening current account deficit, Finance Minister P. Chidambaram said on Saturday.
The euro rose broadly on Monday after Cyprus clinched a deal with international lenders for a bailout aimed at saving the country from financial meltdown.
Mar 25, 2013, 09.44 AM IST
BSE Sensex leaps 120; realty, oil & gas lead early gainers
Equity benchmarks surged in early trade after six consecutive sessions of decline. Market experts attributed the recovery mainly to technical factors, as shares were beginning to look oversold, and also due to the firm trend in global markets. However, they are skeptical if the recovery can be sustained.
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The BSE Sensex was up 121 points at 18856, and the Nifty was up 37 points at 5688.
Realty, oil & gas, and banking shares were among the notable gainers in early trade. State-owned oil marketing companies are trading firm following the hike in diesel prices over the weekend.STOCK FREE TRAILS
"India is like an uninvited guest at the global party at the moment," said Samir Arora of Helios Capital, who expects the mood to remain subdued for a while.
He says that India's fundamentals may appear good relative to some other BRIC markets, but that is not good enough to attract sustainable money flows into shares.
This is a truncated trading week, with the market closed for trading on Wednesday and Friday for Holi and Good Friday respectively.
ONGC is the top gainer among frontline shares, up around 3 percent. Other key gainers at this hour include Core Projects, GMR and United Breweries, up around 3 percent each.
Anu Jain of IIFL says a short term pullback on the Nifty is very much on the cards, but traders should be cautious once the index moves into the 5730-5780 range.
Hemant Thukral of Aditya Birla Money says the market could rise on short covering of derivative positions. He says rollover of positions has been lower than average as the cost of rollover has increased. This could prompt many short sellers to cover up their positions rather roll them forward.
On the downside, Thukral sees 5650 as a strong support for the Nifty.
Independent investment advisor SP Tulsian sees SAIL stabilising close to Rs 60, as investors will be uncomfortable at the fact that a sizeable chunk of the offer-for-sale issue has been picked up by domestic institutions.
Among state-owned oil marketing companies, Tulsian is bullish on HPCL. He is bearish on Delta Corp, and feels the stock will not be able to sustain Friday's pullback. That is a view shared by technical analyst Sudarshan Sukhani, who is recommending selling the stock short. Among oil marketing companies, Sukhani is bullish on BPCL.
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Mar 22, 2013, 09.58 AM IST
Live Market Updates: Sensex, Nifty up a bit; M&M up 2% on SUV excise cut hope
Sluggish start to the session, with the Sensex and Nifty choppy in early trade. The indices have been falling for four consecutive sessions, and buyers are still apprehensive in the absence of any positive fundamental trigger.
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The indices have been falling for four consecutive sessions, and buyers are still apprehensive in the absence of any positive fundamental trigger.
Sensex up 25 points at 18818, and the Nifty up 11 points at 5670.
Gautam Trivdei of Religare sees the market bouncing back, even if the pullback could be shortlived. He sees 5615 as a key support for the Nifty.
M&M up 2 percent on speculation that higher excise duty on Sports Utility Vehicles (SUVs) imposed in the Budget, may be reversed.NSE BSE TIPS
Pidilite, Dabur, Marico, Jet other key gainers at this hour, up around 2 percent each.
MMTC top loser, down 5 percent on concerns of the offer-for-sale price being at a steep discount to the market price.
SKS Microfinance up 6 percent after steep fall Thursday. But PN Vijay says while microfinance itself is a good concept, this is not the right environment to be investing in that sector.
Karun Mutha of HSBC Direct Invest is advising clients to shun the midcap space and go long on banking and IT shares. His F&O strategy is to buy Nifty 5700 call option and sell Nifty 5600 put option.
Technical analyst Sudarshan Sukhani is advising clients to focus on individual stocks and not take a call on the Nifty as it has been too volatile. He says the index is in a downtrend and even if it manages to pullback briefly, 5750 would be a difficult level to pierce on the upside.
Sukhani is bearish on ICICI Bank and is advising a short sell with a target of 980. He is bullish on SKS Microfinance and Bajaj Auto.
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Mar 22, 2013, 09.23 AM IST
Below 5688 Nifty may fall to 5619-5578: Angel Broking
Angel Broking has come out with its report on Indian markets. According to the research firm, if Nifty trades below 5688 levels for the first half-an-hour of trade then it may correct up to 5619-5,578 levels.
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Indian markets are expected to open in the red tracking negative opening trades in SGX Nifty and most of the Asian markets. The US markets moved mostly lower on Thursday, offsetting the gains posted in the previous session. The correction came as worries about the situation in Cyprus overshadowed a batch of largely upbeat US economic data. The major averages ended the day in negative territory but off their lowest levels of the session. Meanwhile the European markets also finished in negative territory on Thursday.NSE FREE TIPZ
Uncertainty surrounding Cyprus continued to weigh on investor sentiment after the country's lawmakers blocked a bank tax and the ECB gave the country an ultimatum. Weaker-than-expected European economic data also contributed to the negative mood Indian shares ended a volatile session lower on Thursday amid worries that the ongoing political uncertainty may derail reforms. Investors fear that the government may resort to populist measures with an eye on elections scheduled in early 2014. Global cues were subdued, further dampening investor sentiments.
Markets Today:
The trend deciding level for the day is 18,859/5,688 levels. If Nifty over this level during the first half-an-hour of trade then we may witness a further rally up to 18,962-19,131/5,7285,798 levels. However, if Nifty trades below 18,859/5,688 levels for the first half-an-hour of trade then it may correct up to 18,69018,588/5,6195,578 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 21, 2013, 10.03 AM IST
Live Market Updates: BSE Sensex opens in green; Bharti Airtel up 3%
The benchmark index BSE Sensex opened in green after the US Federal Reserve maintained its commitment to a very accommodative monetary stance, and market nerves over the Cyprus bailout wrangling calmed.
The benchmark index BSE Sensex
opened in green today following positive global cues. The US Federal
Reserve yesterday maintained its commitment to a very accommodative
monetary stance and the wrangling market nerves calmed on the back of
Cyprus rejecting the terms of the European Union bailout. The Sensex
seems to have recovered on the back of global positivity.
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Selective buying was seen in metal and banking stocks. Auto stocks continue their downward journey on worries of slowdown in sales.
Top gainers in the Sensex were beaten down stocks like Bharti Airtel, ICICI Bank, Jindal Steel, Tata Steel and Tata Power. Full list
Tata Motors was the top loser in the Sensex followed by Mahindra and Mahindra, ONGC, ITC and Hero Motocorp. Full list
Buzzing Stocks
SAIL will remain in focus today. The government will divest 5.82 percent stake which will be offloaded via offer-for-sale (OFS) issue tomorrow. The EGoM, headed by finance minister P. Chidambaram will decide the floor price of OFS today. The stock was down 1 percent.
HDIL hit a fresh 52-week low in morning trade. The stock was down 2% amid high volumes. The realty major cracked more than 20% in yesterday’s trade on concerns of downgrade by rating agency CARE. Over 1.8 crore shares were delivered on both exchanges.
Manappuram General Finance shed its early morning gains after the company's management guided an under-recovery of Rs 250 crore in the fourth quarter of financial year 2013. I. Unnikrishnan, executive director, told CNBC-TV18 "We expect a loss of Rs 50 crore in the fourth quarter."
STOCK MARKET FREE TIPS
The Cabinet Committee on Investment (CCI) cleared Reliance Industries Limited’s (RIL) KG-D6 block and gas discovery area NEC-25 along with 3 other areas. The stock was trading flat.
Global Cues Positive
US stocks added to gains after the Federal Reserve said it was pressing forward with aggressive efforts to stimulate the economy. Asian shares inched higher and the dollar was underpinned on Thursday.
Indian Rupee flat
The Indian rupee opened almost flat at 54.29 per dollar against the Wednesday's close of 54.36.
The euro strengthened from a four- month low against the dollar as Cyprus sought alternatives to the European Union plan to help the nation avoid a banking collapse and the Federal Reserve maintained stimulus measures. The dollar index slipped below the 83 mark.
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Mar 21, 2013, 09.32 AM IST
Nifty may rally upto 5732-5770: Angel Broking
Angel Broking has come out with its report on Indian markets. According to the research firm, the trend deciding level for the day is 5707 levels. If Nifty trades above this level during the first half-an-hour of trade then may witness a further rally up to 5732-5770 levels.
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Indian markets are expected to open flat to positive tracking positive opening in most of the Asian markets, backed by better than expected manufacturing data from China with its PMI index for March coming in at 51.7 from 50.4 in February. US stocks ended higher over the course of the day yesterday after the Federal Reserve said it would continue to support the US economy. The FOMC decided to keep the target range for the federal funds rate at zero to 0.25% and said it would continue its asset purchase program at a pace of US$85bn a month.NIFTY FREE TRADING TIPS
In his subsequent press conference, Federal Reserve Chairman Ben Bernanke expressed confidence in the economic recovery but indicated that the central bank would maintain its quantitative easing program for the foreseeable future. Also, market gained early strength as Cyprus' parliament rejected a proposed Cyprus European Union bailout plan that would tax bank deposits. Indian markets extended losses yesterday on continued political uncertainty despite Finance Minister P Chidambaram dismissing reports of threat to the government in the aftermath of the withdrawal of support to the ruling UPA coalition by the DMK over the issue of alleged human rights violations of Sri Lankan Tamils. Worries about situation in Cyprus also kept investor sentiment subdued.
Markets today-
The trend deciding level for the day is 18,916/5,707 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,996 19,108/5732-5770 levels. However, if Nifty trades below 18,916/5,707 levels for the first half-an-hour of trade then it may correct up to 18,805-18,725/5,669-5,644 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 20, 2013, 09.53 AM IST
Nifty likely to trade in 5800-5700 range: Magnum
Magnum Research has come out with its report on Indian markets. The research firm says Nifty is likely to trade between 5800-5700 with downward biasness.
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Indian markets fell the most this month on Tuesday after the DMK's withdrawal from the ruling UPA coalition raised doubts about the fate of the government's reforms and the RBI stuck to a cautious stance on monetary policy. BSE Sensex fell 1.48 percent, or 285.10 points, to 19,008.10, its lowest close since March 4 and biggest fall since Feb 28. NSE Nifty fell 1.53 percent, or 89.30 points, to 5,745.95. The RBI lowered the repo rate by 25 basis points on Tuesday for the second time this year in a bid to help revive growth in Asia's third-largest economy, but warned that the scope for further easing is limited.
The rate cut was overshadowed by a political crisis in the governing coalition when a key ally quit, raising fresh doubts about Prime Minister Manmohan Singh's ability to push through a late burst of reforms and win back investors' confidence. In its mid-quarter policy review, the Reserve Bank of India lowered its policy repo rate to 7.50 percent as expected. The reverse repo rate is now at 7.50 percent. It also left the cash reserve ratio for banks unchanged at 4.00 percent, in line with expectations. The uncertainty over the political and economic outlook comes as a radical bailout for Cyprus is roiling global markets, raising concerns about foreign investor inflows.FREE TRIALS NIFTY
European shares closed lower on Tuesday as markets await the outcome of a critical vote in Cyprus to tax bank deposits. US Stocks cut their losses in the final hour of trading to close narrowly mixed Tuesday, after lawmakers in Cyprus overwhelmingly voted against the controversial bank bailout deal. Global cues are not positive today with them SGX Nifty is showing 18 point cut in morning trade indicating that Indian market would open little soft today and Nifty is likely to trade between 5800 and 5700 with downward biasness.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 20, 2013, 09.48 AM IST
Nifty may retest recent low of 5663: Angel Broking
Angel Broking has come out with a technical report on Indian markets. According to research firm, indices may re-test recent swing low of 18760 / 5663.
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The report says, "Yesterday, during the opening trade indices tested the mentioned resistance zone of 19396 / 5861 and immediately drifted lower to test Monday’s low of 19232 / 5814. High volatility was seen just before the announcement of ‘RBI Monetary’ policy. However, the RBI policy was overshadowed as the market witnessed a sudden fall after DMK chief M Karunanidhi quit the congress-led UPA government expressing disappointment on India’s stand over Sri Lanka at the UNHRC (United Nation Human Right Council). This triggered immense pessimism in the market and indices tested March 05, 2013 low of 18943 / 5722 to close marginally above day’s low."
NIFTY FREE TIPZ
"Going forward, if indices sustain below 18930 / 5712 (high on March 04, 2013), then we may witness continuation of the current down move. In this case, indices may re-test recent swing low of 18760 / 5663. On the flipside, 17179 19244 / 5791 5817 levels would act as intraday resistance in coming trading session," the report added.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 19, 2013, 09.56 AM IST
Nifty has strong support around 5800: Way2Wealth
Way2Wealth has come out with its derivative report. According to the research firm, for today Nifty will continue to see strong support around 5800 levels. From those levels short covering coupled with fresh buying is expected that may take nifty towards 5900-5950 levels in short term.
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On back of weak global indices, Indian bourses opened on negative note but on lower side found support around 5800 levels and saw recovery from those levels. However indices failed to sustain above 5850 levels and saw selling pressure in last hour of trading and finally closed around 5835 levels down by almost 37 points.
FREE TRIALS
After yesterdays profit booking session, for today Nifty will continue to see strong support around 5800 levels. From those levels short covering coupled with fresh buying is expected that may take nifty towards 5900-5950 levels in short term.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 19, 2013, 09.49 AM IST
BSE Sensex flat ahead of RBI policy, ICICI gains
After a weak closing on Monday, benchmarks opened stable ahead of Reserve Bank of India's mid-quarter monetary policy review, suggesting a rate cut has been factored in.
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Technology and banking were lending support to the market. Top gainers on the Sensex were Bajaj Auto, ICICI Bank, Maruti Suzuki and GAIL adding over 1 percent each.
The midcap index gained around 0.2 percent while the lead gainers included Balrampur Chini, Bank of Maharashtra and Orchid Chemcial.NIFTY FREE TIPS
However, on the losing side were Coal India, TCS, BHEL and Dr Reddy’s lab slipping just about 1 percent each.
Manappuram Finance lost 7.95 percent, Steel Authority of India dipped 3.77 percent while Jet Airways fell 1 percent.
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Mar 18, 2013, 09.52 AM IST
Live Market Updates: Sensex opens down 160 pts, Coal India crashes 4%
The market has opened on a weak note as global cues were not supportive. The Sensex lost 159.36 points at 19268.20 while the Nifty was down 47.15 points or 0.80% at 5825.45.
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Biggest losers on the Sensex were Coal India (down 4.3 percent), Bharti Airtel (down 2.3 percent) and Hindalco (down 1.9 percent).
Investors of Coal India were reacting negatively to government's plan to divest 10 percent in the company. The government hopes to mop up Rs 20,000 crore helping to reach atleast half of the divestment target of Rs 40,000 crore in FY 14.
NSE BSE TIPS
Bharti Airtel is likely to face another show cause notice for sharing its 3G airwaves with Vodafone and Idea, telecom department officials said.
Oil and gas (index down 1.1 percent) along with rate sensitive like BSE Bankex (down 1.2 percent) and BSE Realty (down 1.6 percent) were on the downside. Investors seem to be cautious ahead of the Reserve Bank of India's mid-quarter monetary policy on March 19.
Among the banking stocks, ICICI Bank (down 1.8 percent), Axis Bank (down 2.8 percent) and HDFC Bank (down 0.8 percent) were still reeling under the money laundering expose.
Meanwhile, FMCG and technology stocks seemed to be supporting the market. On the gainers side were HUL (up 1 percent), Sun Pharma and Cipla.
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Mar 18, 2013, 09.21 AM IST
Nifty has support at 5820-5800: Nirmal Bang
Nirmal Bang has come out with its technical report on Indian market. According to the research firm, Nifty has an immediate support at 5820-5800 levels on the downside and on a decisive close expect declines to 5750-5720 levels. There is a strong resistance at 5920 levels and one should maintain a sell on rise approach.
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Market Review:
Indian markets settled lower with benchmark indices falling over 1% during the week. IIP data came in above expectations and the core inflation also fell below the 4% mark. However, rise in CPI and WPI inflation remains is a cause of concern. Domestic markets underperformed the global markets. On sectoral front, Consumer durables, Bankex and Auto were badly hit over the week. The 30-share index, Sensex declined 255.67 points or 1.30% over previous week to 19,427.56. On the other hand, the broad based NSE Nifty dipped 73.10 points, or 1.23%, to 5,945.7. Meanwhile, BSE Midcap and Smallcap index declined 1.56% and 2.44% respectively
Nifty Technical Outlook:
There is an immediate support at 5,820-5,800 levels on the downside and on a decisive close expect declines to 5750 & 5720 levels. There is a strong resistance at 5920 levels and one should maintain a sell on rise approach as most of indicators have generated a sell signal.NIFTY SURE FREE TIPS
Bank Nifty:
The Bank Nifty faces strong resistances around the 11,780 levels on the upside expect selling pressure to continue at higher levels. There is an Immediate Support at 11,700 levels on the downside and on close below expect decline to 11,620 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 15, 2013, 10.03 AM IST
Nifty has immediate resistance at 5920-5940: Nirmal Bang
Nirmal Bang has come out with its technical report on Indian markets. According to the research firm, Nifty has immediate resistance at 5920-5940 levels on the upside and support resides at 5870-5850 levels on the downside. One can expect trending action only on breach of either side, till then expect ranging action to continue in the near term.
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Market Review:
Indian markets moved up sharply ending three-day losing streak on Thursday led by banking and real estate stocks on hope the fall in core inflation could provide RBI some room to ease rates on Mar. 19. At the close, the benchmark 30-share index, BSE Sensex gained 207.89 points or 1.07% at 19,570.44 with 23 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 59.30 points or 1.01% at 5,910.50 with 40 components registering rise.
Nifty Technical Outlook:
There is an immediate resistance at 5,920-5,940 levels on the upside and support resides at 5,870-5,850 levels on the downside. One can expect trending action only on breach of either side, till then expect ranging action to continue in the near term.
Bank Nifty:
The Bank Nifty faces strong resistance around the 12,120 levels on the upside and on a decisive close above expect rise to 12,280 & 12,400 levels. There is an Immediate Support at 11900 levels on the downside.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 15, 2013, 09.39 AM IST
Nifty may test 5980-6030: Aditya Birla
According to derivative report by Aditya Birla Money, India VIX corrected 10percent at 14.66, receding from highs of 17.1 (with recent high 17.5), closing below15 levels, we have to watch for next level 14‐13.5 if it moves below 14 levels, bulls will be back in business, and Nifty may retest at 5980‐6030 levels.
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Nifty PCR_OI correct at 1.18, with 6100 CE saw addition of 6.13 lakh shares, total OI 67 lakh shares. On other hand 6000 PE saw addition of 5.6 lakh shares with total OI at 72 lakh shares (PCR‐OI of 5900 still above 1 at 1.05) implying immediate short term Nifty will find support at 5850‐5910. India VIX corrected 10percent at 14.66, receding from highs of 17.1 (with recent high 17.5), closing below15 levels, we have to watch for next level 14‐13.5 if it moves below 14 levels, Bulls will be back in business, and Nifty may retest at 5980‐6030 levels. NFITY FREE TIPS
.FIIs buyers in Nifty Fut. Rs 45 Cr. (some short covering seen.); selling was also seen in INDEX Options total quantum 2240 Cr (hedging unwinding as VIX failing to sustain above 17 levels, and closing below 15 ), stock futures saw some selling 269 Cr; continue to be buyers in cash to the tune of 607 Cr. positive flows continue on cash front, on F & O front also hedging in Nifty getting unwind, expecting to VIX to come down, implying some pull back in Nifty can be seen 5980‐6030 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 14, 2013, 10.13 AM IST
Rupee lower ahead of inflation data
The rupee opens lower, tracking the global dollar's strength, says dealers. The pair is at 54.35/36 versus Wednesday's close at 54.30/31.
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The US dollar hovered at seven-month highs against a basket of currencies on Thursday as investors warmed to the greenback following bullish economic data.
The ent is likely to scale back the size of the its planned auction of shares in National Aluminium Co Ltd ( NALCO ), two sources with direct knowledge of the matter said.
February inflation, due 12 p.m., will be closely watched with any reading of below 6.5 percent likely to cement rate cut hopes.
The RBI chief comments on budget a positive trigger for rate cut hopes, though he said inflation remains high and stubborn.
Lower end of the perceived consolidation range of 54.00-55.20 held well on Wednesday as the market traded within the Fibo levels at either end (55.18 and 54.02).
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Mar 14, 2013, 10.07 AM IST
Rupee down 10 paise Vs dollar in early trade
The rupee today weakened by 10 paise to 54.40 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from oil importers.
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Forex dealers said besides dollar's gains against other currencies overseas on strong US retail sales data, increased demand from oil importers for the American currency also put pressure on the rupee.
The rupee had lost 12 paise to close at 54.30 against the US dollar yesterday due to fall in local stock markets and renewed dollar demand.NIFTY TIPS
Meanwhile, the BSE benchmark Sensex recovered by 46.29 points, or 0.24 per cent, to 19,408.84 in early trade today.
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Mar 13, 2013, 09.48 AM IST
BRIC pack will be history; big sell-off ahead: First Global
Brokerage house First Global sees the Emerging Markets story collapsing over the next few months, with the BRIC pack (Brazil Russia India China) faring the worst.
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"Global markets are headed for a big fall, but it is emerging markets, within which the BRIC pack, which will get decimated . Much like what happened in 2008," says the First Global strategy note, provocatively titled ‘The BRIC pack will soon be on the History Channel.’
First Global is highly bearish on financials and metals, and says these sectors could bear the brunt of the sell-off. The report takes potshots at market strategists who are betting on a recovery in BRIC market.
FREE TIPS
"Speaking of Strategists, if you thought Brazil, Russia, China and India have done badly and hence, are due for a rally, based on the views generally being expressed by these Strategists (beats me who pays for the nonsense written by these guys, consistently over the years), then go take a cold shower. And follow that up with another cold shower," says the note, adding that the next few months are going to every bit as exciting as 2008 was, for global equities.
Mar 13, 2013, 09.28 AM IST
Nifty may slip to 5888-5862: Angel Broking
Angel Broking has come out with its report on Indian market. According to the research firm, if Nifty trades below 5920 levels for the first half-an-hour of trade then it may correct up to 5888-5862 levels.
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Indian markets are expected to open in the red tracking negative trade in the major Asian Indices like Hangseng, Shanghai and Nikkei which are lower by 0.3percent to 0.6percent. SGX Nifty too is currently trading lower by ~0.3percent. US markets were weak on Tuesday after having a strong rally over the past few trading sessions. The modest weakness on Wall Street is attributable to profit booking by traders after the strong rally. US markets will keenly await the release of key reports during the week on industrial production and consumer price inflation. European markets were mixed on Tuesday as weaker than expected British industrial production data led to some negative investor sentiment in certain markets.
However, positive news flows from US resulted in gains for other markets. Meanwhile India’s Key benchmark indices fell on Tuesday for second consecutive day. There was a positive news on the macro economic front, as the IIP for the month of January 2013 improved to 2.4percent yoy as compared to de-growth of 0.5percent yoy in December 2012 and 1.0percent yoy growth in January 2012. However, the hopes of rate cut announcement in RBI quarterly review receded as retail inflation in February 2013 accelerated to 10.91percent vs. 10.79percent in January 2013.
Markets Today-
STOCK TRADING TIPS
The trend deciding level for the day is 19,589/5,920 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,673-19,782/5,946-5,978 levels. However, if Nifty trades below 19,589/ 5,920 levels for the first half-an-hour of trade then it may correct up to 19,481 19,397/5,888-5,862 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 12, 2013, 09.51 AM IST
Rupee higher on selling interest; factory output data eyed
The rupee higher in opening trades, tracking gains in Asian FX, positive regional stocks. The pair is at 54.26/27 versus last close at 54.41/42.
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Private dealer says good selling interest seen with likely trading range in 54.05-54.45 band for the session.
January factory data likely to show 1.2 percent growth, Euro's recovery from Friday's slide also helping INR.
Share sales inflows will be watched with National Aluminium Co likely to fetch $260 million for the government later this week.
Financial Express reports the government may raise foreign fund limit in debt to $100 billion, a move if happens will be INR positive.
Mar 12, 2013, 09.25 AM IST
Sensex has resistance at 19730-19810: ICICIdirect.com
ICICIdirect.com has come out with its report on Indian markets. According to the research firm, the Sensex has supports at 19580-19460 and resistances at 19730-19810.
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Indian markets are expected to open flat to positive on the back of positive global cues. The markets witnessed partial profit booking on Monday to eventually close in the negative territory amid a volatile trading session. The market sentiment was subdued ahead of the key IIP data due for release today. The market sentiment was also subdued on the back of a steep decline in the domestic passenger sales volume in February 2013. According to the data released by Siam, domestic passenger car sales fell 25.7% YoY to 1,58,513 units in February 2013. The fall in the market was, however, limited on the back of better-than-expected export data.
SHARE TIPS
Indian exports continued their growth momentum and rose 4.25% YoY to US$26.3 billion in February 2013. Modest buying interest was seen in real estate, capital goods & healthcare sector stocks while selling pressure was witnessed in consumer durables, metals & IT sector stocks. The Sensex closed at 19646.2, down by 37 points while the Nifty ended at 5942.4, down by 3.3 points. The Sensex has supports at 19580 and 19460 and resistances at 19730 and 19810. The Nifty spot has supports at 5930 and 5900 and resistances at 5971 and 6010.
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Mar 11, 2013, 09.52 AM IST
Rupee opens lower on global dollar
The rupee opens lower, tracking global dollar gains against majors. Pair at 54.36/37 versus 54.42 open, 54.285/295 Friday close.
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USD hovered near a 3-1/2-year high against the yen and held an upper hand against other major currencies on Monday after remarkable growth in US employment added to optimism over recovery in the world's largest economy.
STOCK MARKET TIPS
A private bank dealer expects a 54.18-54.57 range for the session.
Trade data will be watched for export performance.
Share sales inflows that will be eyed later this month include Steel Authority of India Ltd that could raise USD 600 million and National Aluminium Co which could fetch USD 880 million.
Economic Times report on government likely to ease, remove FDI sectoral limits INR positive.
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Mar 11, 2013, 09.48 AM IST
Positive momentum to continue in Nifty: Dolat Capital
Dolat Capital has come out with its derivative report. OI unwinding was seen in ATM/OTM CE’s in last two trading sessions of the week because of which Nifty PCR has risen to 1.32 from 1.00. Expect positive momentum to continue.
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Nifty has risen by 4% since expiry. PSU Banks, pharma, power have seen major short covering. Longs were added in Tech, oil&gas, auto. Major PE writing was seen in 5700-5800 PE’s since expiry as a result of which both the strikes are now holding more than 9 mn shares suggesting good support. OI unwinding was seen in ATM/OTM CE’s in last two trading sessions of the week because of which Nifty PCR has risen to 1.32 from 1.00. We expect positive momentum to continue.NSE TIPS
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Mar 08, 2013, 09.21 AM IST
See profit booking in Nifty at higher levels: Way2Wealth
Way2Wealth has come out with its derivative report. According to the research firm, on higher side Nifty will face stiff resistance around 5940 levels and can see some profit booking from those levels in second half of session.
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Yesterday, Nifty opened on flat note and thereafter for most part of the day indices were trading in narrow band of 15-20 points with no clear direction. However in last hour of trading sharp short NIFTY FREE TIPScovering coupled with fresh buying was seen across the board that helped indices to recover early losses and close at day’s high level of 5863 up by almost 45 points.
Markets are expected to open on flat note and will continue to see short covering from lower levels. However, on higher side Nifty will face stiff resistance around 5940 levels and can see some profit booking from those levels in second half of session.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 08, 2013, 09.15 AM IST
Markets may open flat to positive: ICICIdirect.com
ICICIdirect.com has come out with its report on Indian market. The research firm says, Indian markets are expected to open flat to positive on the back of positive global cues.
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Indian markets are expected to open flat to positive on the back of positive global cues. The markets opened on a weak note on Thursday morning but gained momentum towards the end of the trading session to eventually close in the positive territory. The market sentiment was subdued in early trade ahead of the crucial interest rate decision by the Bank of Japan and the European Central Bank. The markets, however, returned to the green post the positive opening of the European markets.NSE AND BSE TIPS
Modest buying interest was seen in real estate, capital goods and IT sector stocks while some selling pressure was witnessed in consumer durables and metal sector stocks. The Sensex closed at 19413.5, up by 160.9 points while the Nifty ended at 5863.3, up by 44.7 points. The Sensex has supports at 19320 and 19250 and resistances at 19510 and 19590. The Nifty spot has supports at 5830 and 5805 and resistances at 5890 and 5920.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 07, 2013, 09.50 AM IST
Nifty to find support at 5670-5730: Aditya Birla
Aditya Birla Money has come out with its derivative report. The research firm says total OI 49 and 58 lakh shares on other hand 5700 PE and 5800 PE saw further addition of 10 and 14 lakh shares with total OI at 94 and 70 lakh shares implying immediate Nifty will find support in band of 5670-5730 in short term.
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Nifty PCR_OI increased at 1, with 5800 and 5900 CE saw unwinding of 1 and 2 lakh shares, total OI 49 and 58 lakh shares on other hand 5700 PE and 5800 PE saw further addition of 10 and 14 lakh shares with total OI at 94 and 70 lakh shares (PCR‐OI of 5800 sustaining above 1 at 1.7) implying immediate short term Nifty will find support in band of 5670-5730.
India VIX was flat 2% at 13.09, corrected from 6 mth high, well below 14 levels, we have to watch this level carefully if it remains below 14.5‐15 levels and moves back to 13.5, Bulls will have upper hand and Nifty technical rebound materialize till 5830-5850.
MCX AND NCDEX TIPS
FIIs continue to be buyers in Nifty Fut. Rs 191 Cr. (buying continues in Index Fut. some fresh longs seen); buying continues in INDEX Options 912 Cr (hedging starts as VIX back below 14 levels, 2770 Cr. worth options bought ), stock futures continue to be buyers 607 Cr; continue to be buyers in cash to the tune of 2524 Cr. volumes and participation increasing in cash front, on F & O front also some fresh longs in Nifty seen, implying pull back will face resistance in range 5830-5850 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 07, 2013, 09.18 AM IST
Nifty may rally upto 5833-5848: Angel Broking
Angel Broking has come out with its report on Nifty. According to the research firm, the trend deciding level for the day is 5814 levels. If Nifty trades above this level during the first half-an-hour of trade then may witness a further rally up to 5833-5848 levels.
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The Indian market is expected to open in the red today, mirroring negative opening trades in the SGX Nifty and mixed opening in the Asian markets. After moving notably higher over the course of Tuesday’s session, US stocks turned in a relatively lackluster performance during trading on Wednesday, amid uncertainty about the near-term outlook for the markets, following recent strength. The majority of the European markets ended Wednesday's trading session in negative territory.
STOCK TIPS
The markets were up in early trade, adding to the strong rally of the previous session. The better-than-expected private sector employment data released in the afternoon also provided support. However, those early gains began to erode in late trading. Investors will watch out for Thursday's announcement from the ECB, as well as the US jobs report on Friday. Meanwhile, Indian shares rose on Wednesday, mirroring strong global cues, with upbeat economic data from the United States and continued hopes for easy monetary policy in Japan and elsewhere underpinning sentiment.
Markets Today-
The trend deciding level for the day is 19,247/5,814 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,299 -19,345/5,833-5,848 levels. However, if Nifty trades below 19,247/ 5,814 levels for the first half-an-hour of trade then it may correct up to 19,201-19,149/5,800-5,780 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 06, 2013, 10.08 AM IST
Upward move to continue in Nifty above 5790: Magnum
Magnum Research has come out with its report on Nifty. The research firm says on technical front Nifty has shown smart pullback on its daily chart yesterday and is indicating that if it is moves above 5790 then it is likely to continue its upward momentum again today.
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Indian market posted on Tuesday its biggest daily percentage gains this year on growing hopes the Reserve Bank of India will cut interest rates later this month, which boosted rate-sensitive stocks such as ICICI Bank and Tata Motors. BSE Sensex rose 1.4 percent, or 265.21 points, to end at 19,143.17, posting their biggest single daily gains since November 29. Gains come a day after indices end near the lowest close since November, hit on last Thursday. The broader Nifty rose 1.5 percent, or 85.75 points, to end at 5,784.25.
The gains were in line with global shares that rebounded sharply, reclaiming most of the previous day's steep losses, as investors bet major central banks would decide to keep monetary policy loose at meetings this week. However, India's record-high current account deficit remains a key worry as it is increasing the dependence on foreign investments, making the country vulnerable to a sudden stop and reversal in fund inflows. On technical front Nifty has shown smart pullback on its daily chart yesterday and is indicating that if it is moves above 5790 then it is likely to continue its upward momentum again today.
STOCK MARKET FREE TIPS
Europe's top equity indexes bounced up to multi-year highs on Tuesday, buoyed by the breach of key technical levels, a crop of upbeat corporate outlooks and prospects of continued stimulus from global central banks. Almost four years after the bear-market low, the Dow Jones Industrial Average pierced through levels last seen in 2007 to close at a record high of above 14,200 on Tuesday.
Global cues are positive today with them SGX Nifty is showing 26 points up move in morning trade indicating that Indian market would open positive today and Nifty is expected to trade between 5840 and 5750 with positive biasness.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 04, 2013, 09.51 AM IST
Nifty may trade in 5760-5660 range: Magnum
According to report on Nifty by Magnum Research, Nifty is expected to trade between 5760-5660 with downward biasness.
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Indian markets rose on Friday, rebounding from three-month lows as blue chips such as HDFC seen as oversold rose, and after the finance ministry clarified it would not question the validity of tax residency certificates held by foreign investors. The budget is raising concerns about whether the Reserve Bank of India will have scope to cut interest rates, given signs of fiscal consolidation had been seen as a key criteria for the central bank. Sensex rose 0.3 percent, or 56.98 points, to end at 18,918.52, recovering after hitting its lowest close since November, 2012 on Thursday. The index fell 2.1 percent for the week, falling for a fifth week in a row. The broader Nifty rose 0.47 percent, or 26.55 points, to end at 5,719.70, ending down 2.2 percent for the week.STOCK MARKET TRADING TIPS
The indexes, however, ended lower for a fifth consecutive week after the budget on Thursday disappointed investors by financing increased revenues in part by raising taxes on some companies and high-earners. On technical front Nifty has just paused its downward move on Friday but is still looking weak on its daily charts. It’s indicating that if Nifty moves below 5679 then it may again start its downward journey in coming days European shares edged lower on Friday, impacted by weaker bank and mining stocks, and traders expected equities to stay trapped in a tight range this month with uncertainty over Italian elections denting sentiment.
US Stocks finished in positive territory on the first trading day of March, with the Dow within 100 points of hitting an all-time closing high. Global cues are mixed today, with them SGX Nifty is showing 31 points cut in morning trade indicating that Indian market would open little soft today and Nifty is expected to trade between 5760 and 5660 with downward biasness.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Mar 01, 2013, 09.47 AM IST
India Budget 2013: Nifty flat post expiry, midcaps steady; Tech Mah up 2.32%
Post the steep correction on Thursday, which coincided with expiry, benchmark indices opened flat led by technology and infrastructure stocks.
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At 09.32 AM, the Sensex was up 6.57 points at 18868.11, and the Nifty moved up 3.55 points at 5696.60. Power Grid was the top gainer with 2.78 percent gains, followed by Jindal Steel. In the IT space, Wipro rose 1.40 percent, Infosys was up close to 1 percent, Tech Mahindra jumped 2.32 percent and Mahindra Satyam rose 1.7 percent. TCS, Howver, was down 1.04 percent. Mphasis was disowned after it reported lower-than-expected quarterly numbers.
The midcap index opened inNSE BSE FREE TIPS the green and beaten down stocks like GMR, Lanco, Core Eductaion etc made U-turn from their previous levels.
Whilst GAAR has been postponed by two years, the necessity of a Tax Residency Certificate (TRC) to avail the DTAA benefits also spooked investors. Top losers on the index at the moment are Lupin, DLF, ONGC, Cairn , Sun Pharma, Ranabxy Hindalco and NTPC.
Global markets were trading mixed. Dow, though stood within the striking distance of its all time high level of 14164.5, dropped its pace to close below the high point of the day. Investors lost interest towards the end of the day on dissapointing GDP numbers.
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Thu, Feb 28, 2013 at 10:03
Jet Air up 6% as Etihad deal gets closer
Shares of Jet Airways climbed over 6 percent to Rs 569 after Etihad bought over three of its slots at Heathrow Airport for USD 70 million, which can be considered a step towards closing its proposed investment plans in the carrier.
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Though deal talks are on since September last year, there has been no conclusion on it as yet and both parties are in final stage of negotiations.
Etihad and Jet, both have said that discussions on the deal are still on.
Read This: Buy Jet Airways for long term: PN Vijay
According to CNBC-TV18 sources, Jet Air is learnt to have revised certain clauses pertaining to the Etihad deal. The airline has agreed to give four seats to Etihad on its Board.
Jet Air may also be open to price negotiations as well. The Jet-Etihad deal valuation is likely to be revised, said exclusive sources.
Earlier, the deal was stuck when Etihad said that instead of two it would want four members of Jet’s board. It had also said that in future
The deal was likely toSHARE MARKET FREE TIPS be announced last week, but Hamed bin Zayed al-Nahayan, chairman of Etihad Airways, told media that there were certain issues to be dealt with, before signing agreement with Jet Air.
Since September last year, reports of likely Jet-Etihad started doing rounds and it was only in December that Jet confirmed about it, saying that it is still in negotiation phase. “As and when the deal will happen, we will make an announcement,” it had said.
Etihad is keen to pick up 24 percent stakes in Jet Air at around USD 330 million. Both parties still need to discuss issues related to Board composition and revenue sharing model.
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Thu, Feb 28, 2013 at 09:46
Live Market Updates: Nifty gains 38 points, Strides Acrolab loses 9%
As the market approaches the Budget presentation by the Finance Minister P Chidambaram, investors look hopeful. However, the market seemed to be losing early gains. The Sensex was up 128.33 points at 19280.74 while the Nifty gained 35.20 points at 5832.10.
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Catch all the Budget action here http://www.moneycontrol.com/budget2013/
Top gainers on the Sensex are ONGC, L&T and Coal India adding more than 2%. On the losing side are Dr Reddy’s Labs, Maruti Suzuki and ITC (down around 0.5% each).
Strides Acrolab lost 9% (CMP at Rs 893.95 on the BSE) as it announced to sell Agila specialties division to Mylan inc. for USD 1.6bn in cash and potential additional consideration of up to USD 250 million.
Atul Suri, trader warns that the Nifty may sink to 5500 if the current levels are not hold. He suggests looking for the next leadership in the market. According to Suri, IT and Oil & Gas may hold the trump card.
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Wed, Feb 27, 2013 at 09:53
Nifty may face stiff resistance at 5840-5930: Aditya Birla
Aditya Birla Money has come out with its derivative report. According to the research firm, India VIX moved up 4percent at 17.36, at a new 6 mth high, still well above 15 levels, we have to watch this level carefully if it remains above 14.5‐15.5 levels, Bears will have upper hand and Nifty may face stiff resistance at 5840-5930.
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Nifty PCR_OI decline at 0.83, with 5800 and 5900 CE saw addition of 22 and unwinding of 10 lakh shares; total OI 41 and 79 lakh shares. On other hand 5800 PE saw unwinding of 7.4 lakh shares with total OI at 63 lakh shares (PCR‐OI of 5800 still above1 at 1.7) implying immediate short term Nifty range shifted south in band of 5735-5840.
India VIX moved up 4percent at 17.36, at a new 6 mth high, still well above 15 levels, we have to watch this level carefully if it remains above 14.5‐15.5 levels, Bears will have upper hand and Nifty may face stiff resistance at 5840-5930.
STOCK MARKET TRADING TIPS
FIIs continue to be sellers in Nifty Fut. Rs 1271 Cr. (selling intensify in Index Fut. last three sessions 2355 Cr., some fresh shorts seen); buying resumes in INDEX Options 685 Cr ( 1182 Cr. sold in last 2 sessions, hedging starts again), stock futures continue to be buyers 408 Cr; continue to be buyers in cash to the tune of 74 Cr. volumes and participation coming down in cash front, on F & O front hedging starts again, implies VIX expected to rise again from six month highs, implying Nifty will face stiff resistance in range 5850-5930 levels. over all CE writers continue to form aggressive positions, Index will find resistance 5880-5930 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Wed, Feb 27, 2013 at 09:42
Nifty to trade weak towards 5700-5650: Aditya Birla Money
According to technical report on Nifty by Aditya Birla Money, resistance is seen near 5820 in Nifty, it could continue to trade weak towards 5700-5650 in the short-run.
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Nifty opened on a weak note and sold off steadily thereafter to settle at 5761, with a loss of 94 points last session. • As the index breached the key support level of 5820 decisively yesterday, it could continue to trade weak and drift further lower towards the next major support (200-day EMA) near 5650 in the short-run. • Momentum in the 14-day RSI and MACD (12/26/9) is weak and would be supportive for the same. •On the higher side, break down zone of 5820/5840 will act as immediate resistance. •Only an immediate close above it could turn the sentiment mixed to positive negating further weakness.
Outlook and strategy:
Resistance is seen near 5820, Nifty could continue to trade weak towards 5700-5650 in the short-run.
NSE BSE TIPS
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Tue, Feb 26, 2013 at 10:11
See Nifty between 5700-5900 if Budget a non-event: Dalton
According to UR Bhat, managing director of Dalton Captial Advisors, the market may experience some turbulence ahead, mainly due to global pressures.
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In an interview to CNBC-TV18, Bhat explained that the market could trend lower for the next few weeks due to global concerns. With the Eurozone crisis rearing its head again, and a possible pullback of the US Federal Reserve’s quantitative easing program, investors are opting to pull out their money and stay on the sidelines. “Market could correct sharply in case of a risk-off trade on EU issues,” he added.
However, Bhat believes there is no reduction in the foreign institutional inflows (FIIs) into India.
Speaking about the upcoming Union Budget 2014, Bhat says that the market is likely to experience a bounce back in case the Budget surprises positively. “Otherwise, if the Budget is a non-event, the Nifty will consolidate between 5,700-5,900,” he said.
Below is an edited transcript of his interview with Udayan Mukherjee and Mitali Mukherjee. Also watch the accompanying video.
Q: Rough cues globally over the last couple of days. Do you think we are setting into a global correction?
A: In the short term, maybe, because I think the position in the US on the debt ceiling negotiation between the Republicans and Democrats is sort of hardening. News from Europe continues to be quite bad, with the Italian election results causing more confusion and the downgrading of UK. All these seem to suggest that there are volatile times ahead at least for the next few weeks.
NSE BSE FREE TIPS
But at the same time, it is not as if the quantitative easing stance that developed markets have will be withdrawn anytime soon. So money would probably keep coming, but there would certainly be some trepidation because of all the events in the US, UK and the rest of Europe.
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Tue, Feb 26, 2013 at 09:41
Nifty has strong resistance at 5900-6000: Way2Wealth
Way2Wealth has come out with its derivative report. According to the research firm, on lower side put writing at 5800 levels will act as strong support for Nifty whereas on higher side call writing has been seen at 5900-6000 levels and that will continue to be a stiff resistance for indices in short term.
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Indian bourses started the weak on flat note but thereafter were quite volatile through out the session. Selling pressure was seen at higher levels that dragged nifty in negative zone but in second half of session selected short covering helped indices to recover all the losses and finally it closed around 5855 levels up by 4 points.
On back of weak global indices, today STOCK MARKET FREE TIPS domestic markets are expected to open on negative note and will continue to see selling pressure at higher levels. On lower side put writing at 5800 levels will act as strong support for indices whereas on higher side call writing has been seen at 5900 and 6000 levels and that will continue to be a stiff resistance for indices in short term.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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