New at 8 week low; Nifty took support at 5850

Closing Market Updates 15th Feb. 2013  17:33

Market remained volatile and ended in red for the third week consecutively. Today, spot Nifty ended first time at 5876.75 after 28th Dec,12; declined by just 20.20 points after making a low of 5853.9 whereas Sensex ended at 19435.21 with 61.97 points in negative. February Nifty future ended at 5884.1 with a premium of 7.35 points.
Among BSE Sectoral Indices, Oil&Gas index was the top loser by 0.83% and Auto index was the top gained by 0.43%.
In Nifty50 stocks, Tatamotors gained the most by 2.52% and ended at 304.7. DrReddy was the top loser by 3.22 % which ended at 1814.Suzlon was the turnover topper by the quantity traded and SBI by the traded value today on NSE.
Advance/Decline ratio was negative at 1.54 : 1 as 915 stocks declined and 595 stocks gained today on NSE.

Nifty Outlook : As mentioned in our previous weekly blog in the same topic, Nifty near month Future took support near 5860 and bounced back smartly in the last session upto 5909. We recommend not to go short around 5850-5860 levels but buy on dips for the relief rally targeting 5990-6040 levels. Consider 5850-5820 levels are major support. Look for the stock specific opportunity ahead of Budget announcement time or book daily profits.

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Nifty closed at year low for 2013; lower GDP forecast threatened the sentiment

8th February 2013 :  Closing market updates 17:00

The investor's sentiments were dampened after India's economic growth rate this fiscal is estimated to be sharply lower at 5% announced yesterday. This will be the lowest GDP growth rate in a decade for India.

Nifty dropped 44.35 and ended at 5894.45, below 5900 mark first time after Dec.27,2012 and Sensex ended at 19466.23, lost 114.09 points.
Among BSE sectoral indices, Metal index was the top loser by 1.7 followed by PSU banks,Realty,Auto,Oil&Gas and HC.IT was the top gainer by 0.86%.
In Nifty50 stocks, TCS gained the most by 2.23% closed at 1418.10 and Ambujacem tanked the most by 5.5% and ended at 188.95.
Advance/Decline ratio was negative at 2.65 : 1 as 397 stocks gained whereas 1052 declined today on NSE.

Nifty Outlook :

As recommended in the last week's Nifty Outlook topic, as soon as Nifty Feb.Fut cracked the support of 6020 on 4th Feb, it failed to recover and today it collapsed to 5900. Now it will be interesting to watch whether it will take support at 5860. Buy in dips with a strict sl of 5855 on closing basis. Hold derivative short positions in BankNifty also for target of 12121.

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Nifty Fut. below 6000 mark

Today premium between Nifty and Nifty Feb.Fut. eroded as Fut.Nifty closed at 5994.4 and Spot Nifty closed at 5987.25.Premium is just 7.15 points and which was 37.2 points on Friday. OI was at 13938500 with a rise in 10.73 % to Friday's OI.
Tomorrow, bounce back expected in Nifty Feb.Fut. upto 6020. I recommended to carry shorts with a trail sl of 6016.

Nifty ended below 6000 mark at 3 week low.

1st Feb. 2013 Closing Market Updates 17:30

Market discounted the RBI rate cut and also the better results' session.
Nifty closed below 6000 mark for the first time after 11th Jan, 2013. Today at the last day of the week and the very first day of the February expiry as well as first day of the second month of the calender year, Nifty closed at 5998.9, down by 35.85 points and Sensex slipped by 113.79 points to settle at 19781.19.
Among BSE Sectoral Indices, Consumer durables gained the most by 1.77 whereas Realty Index was the top loser.
In Nifty50 stocks, BPCL gained the most by 2.96% to end at 422.6 and JP Associat was the top loser as dropped by 4.14% and closed at 83.35.
Suzlon was the turnover topper by the traded quantity and Bhartiartl was by the traded value on NSE today.
Advance/Decline ratio was negative to 1.36 : 1 as 859 stocks declined and 633 stocks gained today on NSE.

Nifty Outlook :

Spot Nifty has broken an important support of 6010 which may initiated short positions but to confirm the trend, two consecutive closings should be below the support level.
Nifty near month fut is trading in a very narrow range of 6020 and 6080.Any sustainable closings above or below these levels should be considered as decisive. Downside is protective at around 5920-5840 levels. Any dip up to 5920 would be proved as a healthy correction for the rally ahead.

Recommended Stocks for short term investments. 

Bankbaroda with a stop of 831
Glenmark abv 535 or at 465
Hindpetro with a stop of 317
IDBI with a stop of 105
Indhotel abv 63
LICHsgFin with a stop of 277 or 270
RCOM with a strict stop of 77
SAIL with stop of 86 for short term target of 97
Tatchem with a stop of 353
Tiatn above 288 on a closing basis.


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