Market discounted RBI policy.Market could not sustain at higher levels Nifty closed below 5950.

Indian equity market has already discounted the most awaiting influential event, that is RBI Credit policy. Nifty failed to sustain above 6000 mark and ended at 5943.45 after ebbing 55.9 points whereas Sensex ended at 19576.58 after shedding 159.19 points. 
Reserve Bank of India cut its policyinterest rate by 25 basis points on Friday for the third time since January, as expected, as growth slows and inflation ebbs, but said there is little room to ease monetary policy further. The Reserve Bank of India trimmed the repo rate to 7.25 percent, its lowest since May 2011, and kept the cash reserve ratio (CRR) for banks unchanged at 4 percent, also in line with expectations.
Among NSE Sectoral Indices, PSU Bank Index Banknifty was the major loser by 3.28% followed by the Banknifty index by 2.57%. The IT index was the top gainer by just 0.39%.
In Nifty50 stocks, Jindalstel was the top gainer by 3.81%, ended at 318.45 and Tatamotors was the top loser by 3.99% which ended at 285.6
Rcom was the turnover topper by the traded quantity and SBIN was by the traded value today on NSE.
Advance / Decline ratio was negative at 1.8:1 as 312 stocks gained and 564 stocks declined on NSE today.

Nifty Outlook : 
Nifty Fut. failed to sustain above 6030 which will be considered as a resistance on weekly chart. Consider 5870 is a near support. Any sustainable movement above or below these levels will lead the direct to the direction accordingly.
Immediate Support : 5870
Immediate Resistance : 6030

Nifty closed on a month high. Hit 5794.35.

After Govt.'s declaration, that exports hit $300 billion for the fiscal year ended March, rate sensitive stocks surged and overall buying seen in the last session of the market hours hoping rate cut further. Nifty ended at 5774.75 with a gain of 86.05 points and Sensex rallied 255.18 points and ended at 18986.34. Nifty hit 5794.35 as a day high in the last half an hour just because of short covering. In NSE Sectoral Indices, BankNifty was the top gainer which gained 2.56% followed by Auto index, up by 2.32%. CNX IT was the only loser by 0.05%.
In Nifty50 stocks, Indusindbk rose the most by 7.71% and ended at 451.95 whereas NMDC was the top loser by 2.48%, ended at 123.85. Rcom was the turnover topper by the traded  quantity and TCS was by traded value on NSE today.
Advance/Decline ratio was positive to 1.69 : 1 as 597 stocks gained and 353 stocks declined today on NSE.

Nifty Outlook :
In this week Nifty Fut. has gained 238.6 points on closing basis.The weekly low was 5503 and high was 5796.7. As expected Nifty Fut has completed it's bounce-back and crossed the resistance of around 5775 but failed to close above the same. It is advisable to book profits at higher levels.Any closing above 5780 level lead the rally to test 5860-5880 levels.
Immediate Support : 5720 / 5660 / 5630
Immediate Resistance : 5796 / 5830 / 5880

Infy snatched but FMCG and Banking seized the market

Closing Market Updates 12th Apr.2013

As expected, Infy triggered the market sentiment and lead to gap down opening. Nifty opened 74 points on the down side and unable to recover the losses. Banking and other major stocks stopped market to slide below 5500 mark and Nifty ended at 5522.05 with a loss of 71.95 points and Sensex ended at 18224.47 with a fall of 317.73 points.
FMCG index gained by 1.91% and was the top gainer among sectoral indices on NSE followed by PSU Bank index. Whereas IT index tanked the most by 11.74.
In Nifty50 stocks, JPAssociat gained the most by 4.67% and ended at 70.6. Infy was the top loser by 22.07% and ended at 2273.05.
Advance/decline ratio was negative as 526 stocks gained and 752 stocks declined today on NSE.

Nifty Outlook : Nifty Apr Fut may struggle to go beyond the range of 5620 and 5580 levels.
Support : 5480/ 5455 / 5360
Resistance : 5580 / 5620 / 5660

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Market failed to sustain at higher levels. Nifty below 5600 mark and Sensex below 18500.

Weekly Blog 5th Apr. 2013 16:17
Today, spot Nifty could not cross its previous close, i.e. 5574.75 and it reflects the market strength and the sentiment.Nifty ended at 5545, down by 29.75 points and Sensex dropped by 86.41 points to end at 18423.29.
Among BSE sectoral indices, Oil&Gas was the major gainer and Bankex was the top gainer.
In Nifty50 stocks, Maruti was the top gainer by 7.18% and ended at 1405.25 whereas NMDC was the top loser by 4.94%, ended at 124.1.
Renuka was the turnover topper by the quantity traded and Mcdowell-n by the traded value on NSE.
Advance/Decline ratio was negative as 696 stocks gained and 748 stocks declined today on NSE.

Nifty Fut. Outlook :

As stated in our previous blog, Nifty Fut. bounced back upto 5773.35 this week but could not sustain above 5770 and closed below 5600 today. Nifty Fut. has major support at 5380-5360 levels. We can not ignore the immediate support of 5550 as it is not broken today and which was tested on 20th Nov.2012 before making high of 6120. Next week, results session will lead the market sentiment. Infy will declare their Q4 results on Friday,12th Apr. It may influence the market.

Support : 5550 / 5455 / 5360
Resistance : 5595 / 5660 / 5775

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Nifty closed at 5650, first time after Nov.26

A volatile session ended slightly with pessimism as Nifty failed to cross and close above 5700 mark.
Nifty closed 5651.35, 7 points below previous close. Sensex lost 57.27 points to settle at 18735.6.
In Nifty50 stocks, IDFC was the top gainer by 6.19 %, closed at 145 whereas DLF was the top loser by 3.17% and closed at 231.85. Unitech was the turnover topper by the quantity traded and HDFCBank by the value traded today on NSE.

Nifty Outlook : 
Nifty Fut. has broken its' all major technical supports like 5755 and 5690. Now it is in bearish hands for longer term viewing 5380-5140 levels but any bounce back upto 5770 to 5840 levels will give opportunity to exit long if any. In coming weeks, expiry of March 2013 contracts and a result session thereafter will be the interesting factors which may influence the market. Also political uncertainty may become a cause of worry for investors.
Immediate Support : 5650/5620/5550
Immediate Resistance : 5720/5770/5840

Nifty in bullish mode

8th March, 2013 

Market continued its upward journey for the forth day. Nifty ended at 5945.7 after gaining 82.4 points and Sensex gained 252.32 points to end at 19665.86.
In Nifty50 stocks, Jindalstel gained the most by 5.7% to end at 367.15 whereas Maruti was the top loser by 1.29% which ended at 1430.6.

Nifty Outlook : 

As Nifty (Mar.Fut.) has given a breakout above 5892 and ended at 5965.85. Thus, the short term positional trend became bullish and can lead to make a new high in coming months.Immediate levels to watch are 5980  and 6140 to sustain above. The downside is protected to 5690 as a weekly closing.

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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