Daily Equity Newsletter: Indian Market
Daily Equity Newsletter: Indian Market
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Indian Market
Indian equity markets were down 0.19% Nifty down by 10.30 pts and settle at 5542.95 Sensex down by 12.45 pts at 18437.78 Bank Nifty down by 86.25 pts at 11012.70
Global Market
European markets were up with FTSE up by 16.94 closed at 6266 ,CAC up by 26.68 closed at 3690 and DAX up 28.44 closed at 7687 Dow future was 14517.00 up by 33 closed at
HEADLINES
BHEL FY13 prov net profit beats estimates, stock up 2.6% Power Grid approves 7 investment proposals worth Rs 3451cr Anti-Sterlite call evokes good response at Tuticorin MTNL up 3% on buzz of revival plans
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MARKET ANALYSIS:
Key benchmark indices registered small losses after swinging between positive and negative zone throughout the day. The barometer index, the S&P BSE Sensex, was provisionally down 8.96 points or 0.05%, up about 40 points from the day's low and off close to 60 points from the day's high. FMCG stocks gained on reports of likely normal monsoon this year. Index heavyweight Reliance Industries (RIL) edged higher. Another index heavyweight and cigarette maker ITC reversed intraday losses in late trade. The market breadth turned negative from positive in late trade. IT stocks edged lower on weak US economic data. Metal stocks edged lower as LMEX, a gauge of six metals traded on the London Metal Exchange, dropped 0.63% on Friday, 5 April 2013. Bharti Airtel and Idea Cellular rose after the Supreme Court allowed Bharti Airtel, Vodafone India and Idea Cellular to continue 3G pacts, allowing them to offer 3G services outside their licensed zones, until the next hearing on 11 April 2013. A bout of volatility was witnessed in early trade as key benchmark indices regained positive zone and hit fresh intraday high after slipping into the red for a brief period after opening higher. The Sensex once again slipped into the red and hit fresh intraday low in morning trade. The Sensex continued to alternately move between gains and losses in mid-morning trade. The market extended intraday losses to hit fresh intraday low in early afternoon trade. Key benchmark indices turned positive in afternoon trade led by strong opening in European markets. The market retained positive terrain in mid-afternoon trade. The market once again slipped into the red later.
FII DII
8-Apr-13 8-Apr-13
1546.88 777.09
1710.83 564.37
-163.95 212.72
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EXPERT OPINION
NIFTY
Nifty looks Bearish Strategy: Sell on rise Support: 5500 Resistance: 5600
BANK NIFTY
3.83 3.26
Bank Nifty looks Bearish Strategy: Sell on rise Support: 10950 Resistance: 11100 460
.0 PREVIOUS PERFORMANCE
TYPE SCRIP B/S RESULT
CASH CASH
B B B S
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MARKET CALLS
6
SCRIPS ADANI POWER ARVIND ACTION BUY BUY LEVEL 46.80 80.00
CASH
1ST TARGET 47.00 80.50 2ND TARGET 47.30 81.00 STOP LOSS 46.60 79.50
FUTURE
SCRIPS . ALLAHBAD BANK SELL 125.90 124.90 123.90 126.90 ACTION LEVEL 1
ST
TARGET
ND
TARGET
STOP LOSS
CANARA BANK
SELL
389.50
387.50
385.50
391.50
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