Category Archives: Intraday Trading

Overseas Market View – FII Activity

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European shares ended Thursday’s volatile session sharply lower as European Central Bank President Mario Draghi disappointed investors who had been expecting some bold actions since his pledge last week to do ‘whatever it takes’ to defend the euro. Investors, who had pushed stocks higher before Draghi’s comments on hopes of some concrete policy support, rushed to dump equities, with the FTS Euro first 300 index closing 1.2 percent lower at 1,055.34 points, Spain’s IBEX slumping 5.2 percent and Italy’s FTSE MIB falling 4.6 percent, the biggest one-day decline in nearly four months.

On the flip side, U.S. stocks on Thursday retreated for a fourth day after the European Central Bank failed to live up to its advance billing, offering only conditional moves in tackling Europe’s debt crisis. The slide in U.S. equities followed a global rout after ECB President Mario Draghi indicated the ECB plans to unite with governments in purchasing bonds in large enough quantities to curb the euro land’s debt trouble, although he conceded Germany’s Bundes bank was not fully on board with the concept. Among the individual stocks, Knight Capital Group Inc. shares nose-dived nearly 63 per cent to USD 2.58 a piece after pegging losses at USD 440 million from a trading glitch and saying it was looking at strategic options.

The three main indices closed in red in choppy trading session. The Dow Jones Industrial Average dipped 92.18 points, or 0.71 percent, to 12,878.88 at the close. The Nasdaq Composite Index fell 10.44 points, or 0.36 percent, to end at 2,909.77 and Standard & Poor’s 500 Index edged down 10.32 of a point, or 0.75 percent, to 1,365.00.

Crude oil ended the session 2.0 per cent lower at USD 87.20 per barrel. Natural gas closed into negative terrain with 7.9 per cent loss at USD 2.92 per MMBtu.

Following the crude’s footsteps, Gold closed the day’s trading with 1.0 per cent loss at USD 1590.50 per ounce. Silver also settled with a 1.9 per cent loss at USD 26.99 per ounce.

On Thursday, the FIIs continued to support Indian equity and debt market as a result they turned net buyer in both the markets.

Gross equity purchased stood at Rs. 2212.10 Crore and gross debt purchased stood at Rs. 787.00 Crore, while the gross equity sold stood at Rs. 1581.20 Crore and gross debt sold stood at Rs. 519.60 Crore.

Therefore, the net investment of equity and debt reported were Rs. 630.90 Crore and Rs. 267.40

Market Outlook: Nifty Levels for 02 August’2012

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The Bse Index Closes on Wednesday at 17257 up 21 Points or +0.12% and the Nifty fasten store at 5240, up 11 points from the previous close or +0.22%. The CNX Midcap index was up 0.9% while the BSE Small cap index gains 1.1% in Yesterdays Trade. The market breadth was positive with advances at 947 against declines of 490 on the NSE.

The markets clogged with restrained gains today with healthcare, capital goods and realty being the biggest gainers. Metal and oil & gas closed with significant losses. Top Gainers in Yesterday’s Trade were Cipla, Kotak Mahindra Bank, Ambuja Cement and JP Associates & Losers were Coal India, Sesa Goa,Ongc and Hero Motocorp.

Stock Cipher:

  • Delta Corp Q1 cons net profit at Rs 16.1 cr vs Rs 11.8 cr (YoY); cons net sales at Rs 72 cr vs Rs 91.2 cr (YoY).
  • Karvy has filed a forgery case against Deccan Chronicle.
  • IDBI Q1FY13 YoY Net Profit at Rs.427.3 Cr vs Rs.335 Cr; NII at Rs.1270.6 Cr Vs Rs.1211 Cr.
  • Godrej Properties will be developing 1.85 lakh sq ft Ghatkopar Township.
  • 3i Infotech has allotted 2.14 cr shares at Rs 19.74/share as per CDR (Corporate Debt Restructure) package to various lenders.
  • EID Parry Q1FY13 YoY Consolidated Net Profit at Rs.106 Cr Vs Rs.95.5 Cr; Net Sales at Rs.2,666.3 Cr Vs Rs.2,489 Cr.
  • Uninor decides to auction its mobile services business and ancillary operations in various circles; Unitech nominees on the board have opposed the auction.
  • State-owned oil companies hike ATF prices by average Rs 2876.75/kl.
  • Maruti Suzuki July total sales up 9.2% at 82,234 Units (YoY). Domestic Sales at 71,024 Units Vs 66,504 Units (YoY). Exports at 11,210 Units Vs 8,796 Units (YoY). Dzire Sales at 11,413 Units Vs 3,021 Units (YoY).
  • Orissa Minerals Development Company is planning for a bonus share issue and stock split on August 9. The company is looking forward for meger of Bisra Stone Lime with itself on August 9.
  • PVR Q1 cons net profit at Rs 7.6 cr vs loss Rs 13.2 cr (QoQ); cons net sales at Rs 176 cr vs Rs 117.7 cr (QoQ).
  • Adani Power Q1 cons net loss at Rs 810 cr Vs Rs 181 cr profit (YoY); cons net sales at Rs 1,502 cr Vs Rs 855 cr (YoY).
  • M&M July Sales: Total Sales at 47,059 Vs 39,633 units (YoY).
  • Cipla has got US FDA nod for Insomnia drug ambient generic.
  • July Auto Sales Tata Motors:
    Total Sales (GU)15% at 74,159 at units (YoY)
    Domestic Sales (GU)18% at 68,627 at units (YoY)
    PV Sales (GU)53% at 26,240 at units (YoY)
    Nano Sales at 5,485 at units Vs 3,260 at units (YoY)
    Exports at 5,532 at units Vs 6,512 at units (YoY)
  • Orient Paper Q1 net profit at Rs 48.9 cr vs Rs 59.4 cr (YoY); net sales at Rs 657 cr vs Rs 524 cr (YoY)
  • Jaypee Infra Q1 net profit at Rs 209 cr vs Rs 238 cr (YoY); net sales at Rs 678 cr vs Rs 617 cr (YoY),
  • CEAT Q1 cons net profit at Rs 29 cr vs loss of Rs 41 cr (YoY); cons net sales at Rs 1,225 cr vs Rs 1,110.5 cr (YoY).
  • Eicher Motor July Auto Sales: Total Bus, Truck Sales (Reduced) 13.2% at 3,602 Units (YoY).
  • GSK Consumer Q2 net profit at Rs 106.6 cr Vs Rs 82.5 cr, net sales at Rs 729.7 cr Vs Rs 653.4 cr (YoY).

Last Close at 5240 up 11 points, Last High at 5246 Low at 5212, Weekly High at 5246 and low at 5032 and 5 DMA at 5162, 20 DMA at 5213, 50 DMA at 5128 and 200 DMA at 5105.

5-Days Relative Strength Index at 68 and 14-Days Relative Strength Index at 56. It Indicates Nifty Placed in BULLISH precinct.

NIFTY: RESISTANCE @ It has the First resistance close to the level 5244 and above the level marks the track point at 5266 later zooper levels at 5288 marks.

SUPPORT@ It has the first support close to the level of 5222 and below this level mark next support is seen at 5200 later dipping levels near 5155 marks.

NIFTY FUT MOMENTUM CALLS FOR 02 Aug’2012:

Buy Nifty August Future above 5266 Sl 5244 Tgt 5288-5311 {Or} Sell Nifty August Future below 5222 Sl 5244 Tgt 5200-5177.

Market Outlook: Nifty Levels for 01 August’2012

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The Bse Index Closes on Tuesday at 17236 up 92 Points or +0.54% and the Nifty fasten store at 5229, up 29 points from the previous close or +0.56%. The CNX Midcap index was up 0.4% while the BSE Small cap index gains 0.1% in Tuesday’s Trade. The market breadth was positive with advances at 741 against declines of 657 on the NSE.

The markets finished a smart recovery in the afternoon to close with temperate gains and barring consumer durables, banking and power, all sectoral indices closed positive. Oil & gas, realty and metal were the biggest gainers in yesterday’s session and IT and healthcare, too, gained significantly. Top Gainers in Yesterday’s Trade were Grasim, Ongc, Dlf and Sterlite Industries & Losers were Bharti Airtel, Hero Motocorp, Jindal Steel and Bank of Baroda.

Stock Cipher:

  • Hexaware Q2 net profit at Rs 89 cr vs Rs 88.4 cr (QoQ).
  • Competition Commission of India (CCI) has imposed a penalty of Rs 397.5 cr on Shree Cement for indulging in restrictive trade practices.
  • Deccan Chronicle has pledged 14.5% stake of the company to Religare Finvest. Earlier, it had pledged 54% to Future Capital.
  • Coal India board will be meeting on Tuesday to discuss FSAs (fuel supply agreement) with Power companies.
  • First source Solutions Q1 net profit up 25.6% at Rs 29 cr (QoQ); Revenues up 8.6% at Rs 675.2 cr vs Rs 621.8 cr (QoQ).
  • Bharti Airtel is planning to issue new shares to the public or Qualified Foreign Investors (QFI).
  • Gulf Oil India has signed a development agreement with Hinduja Estates for 76 acre Hyderabad land.
  • Rare Enterprises buys 25 lakh shares of SpiceJet; stock up 8%.
  • Suzlon Energy has bagged orders of worth 247 million Euro.
  • Sun TV in distribution pact with Arasu Cable.
  • Zydus Cadila receives tentative US FDA nod for Aripiprazole tablets.
  • Karur Vysya Bank Q1 Net Profit at Rs 146 cr Vs Rs 117 cr (YoY).
  • Titan Q1 net profit at Rs 156 cr vs 143.3 cr (YoY); total income at Rs 2,231 cr vs Rs 2,020 cr (YoY).
  • Petronet LNG Q1 Net Profit at Rs 271 cr Vs Rs 245.1 cr (QoQ).
  • Cipla Q1 net profit at Rs 400.7 cr vs Rs 253 cr (YoY); net sales at Rs 1917.4 cr vs Rs 1591 cr (YoY).
  • RBI leaves the Repo Rates as it is.

Last Close at 5229 up 30 points, Last High at 5234 Low at 5154, Weekly High at 5234 and low at 5032 and 5 DMA at 5136, 20 DMA at 5216, 50 DMA at 5119 and 200 DMA at 5103.

5-Days Relative Strength Index at 61 and 14-Days Relative Strength Index at 55. It Indicates Nifty Placed in BULLISH precinct.

NIFTY {5229}: RESISTANCE @ It has the First resistance close to the level 5244 and above the level marks the track point at 5266 later zooper levels at 5288 marks.

SUPPORT@ It has the first support close to the level of 5200 and below this level mark next support is seen at 5177 later dipping levels near 5155 marks.

NIFTY FUT MOMENTUM CALLS FOR 01 Aug’2012:

Buy Nifty August Future above 5245 Sl 5222 Tgt 5266-5288 {Or} Sell Nifty August Future below 5200 Sl 5222 Tgt 5177-5155.

Multibagger Stocks – Polaris Financial Technology, Selan Explorations Technology Ltd.

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BUY:  CMP @ 112

TARGET:  150

TIME FRAME: 12 MONTHS

TRADE: NSE/BSE

  • Polaris Financial Technology, formerly Polaris Software Lab, is a prominent player in BFSI space, being the outsourcing partner for 9 of top 10 global banks and 7 of top 10 global insurance companies.
  • Established in 1993, company is headquartered in Chennai and operates two business segments (i) Banking Financial Services and Insurance (BFSI) which accounts for close to 95% of consolidated revenues and (ii) Emerging verticals.
  • The company offers solutions in the retail and corporate banking, risk and treasury, capital markets, life and non-life insurance spaces. Serving over 250 customers across geographies, it has an employee count of 13,718 as of 30th June 2012
  • Its equity base of Rs. 49.73 crore comprises of 9.95 crore shares of face value Rs. 5 each, as of 30th June 2012. Of this, promoter holding stands at 29.15%, foreign institutional holding at 19.70% while domestic institutional is 11.45%, leaving 39.70% as float among resident Indian shareholders.
  • For FY12, on a consolidated basis, company posted very healthy set of financial performance with sales crossing the Rs. 2,000 crore-mark, at Rs. 2,052 crore, up 36% from FY11’s Rs. 1,511 crore. PAT for FY12 stood at Rs. Rs. 220, up 9% from FY11’s 203 crore, while EPS for Rs. 22.17.
  • During Q1FY13, company reported consolidated revenue of Rs. 569 crore, up 9% sequentially. In dollar terms, revenue rose 4% QoQ to US $ 107.6 million, from US $ 103.5 million. Besides addition of 14 new clients during the quarter, company had 75 billed days, highest in its last 5 quarters.
  • Capacity utilization of 80.5%, one of the highest among peers, lead to 8% QoQ higher EBITDA to Rs. 91 crore from Rs. 84 crore. In dollar terms, EBITDA was up 14% QoQ during the first quarter of the current fiscal. PAT for Q1 stood at Rs. 61 crore, leading to EPS of Rs. 6.13.
  • As of 30th June 2012, company had reserves of about Rs. 1,264 crore, translating to networth of Rs. 1,313 crore and BVPS of Rs. 132. It has cash and equivalents of Rs. 329 crore, translating to cash per share of Rs. 33.
  • The company is also having large chunk of realty/land at Chennai, which is likely to get monetized in the current financial year, which will improve its book value and profitability of FY 13 further.
  • The company’s exposure to Europe is relatively limited, constituting about 1/4th of its geographic mix.
  • Management is confident in its guidance of Rs. 25.50 EPS for FY13. This translates in PE multiple of 4.43 times, based on yesterday’s closing price of Rs. 113 and current year profitability. PE multiple, adjusting for cash per share of Rs. 33, translates into barely 3.13 times. On PBV basis, share is quoting at a multiple of 0.86 times.
  • Thus, this mid-cap IT company is available at attractive valuations with current market cap of Rs. 1,137 crore and trading in mid-single digit PE multiple, and below book value.

 

SELAN EXPLORATIONS TECHNOLOGY LTD

BUY:  CMP @ 265

TARGET:  445

TIME FRAME: 9-12 MONTHS

TRADE: NSE/BSE

 

  • Selan Exploration is into exploration & production of oil & gas. It currently operates 5 small fields in Cambay onshore-Lohar, Bakrol, Indrora, Ognaj and Karjisan. These oil fields were awarded to the company in 1995 under a Production Sharing Contract (PSC) with 100% participating interest by the Government of India. Selan was subsequently awarded two more fields in Gujarat namely Ognaj Oilfield and Karjisan Gas field. In-place resource stands at 73 mmbbl (million barrels)& 7 mmbbl in Bakrol & Lohar respectively. Production level is currently at ~660 bpd (barrels per day). The company sells its Crude output Brent to Indian oil at a discount of 5% to Brent. Five points to qualify Selan exploration as a great medium to long term buy.1) As of now, the company is producing oil from only 2 fields, Bakrol & Lohar. Management has also indicated that Indrora Oilfield contain far larger quantities of recoverable oil than Bakrol. Let us conservatively assume 100 Million Barrels of Oil Reserves under Selan.  At $ 70 per barrel, Selan’s reserve could be valued at Rs. 33,000 Cr.2) Previously, the technology recovery rate of exploration activities was ranging from 10-20% from the total potential reserves in Gujarat. But with the latest technology implementation of 3D contour mapping this recovery rate has gone up to as high as 50-60% for the similar fields. Contour mapping is just like a magnetic resonance imaging (MRI) scan of a human body. Stunning management quality and they are committed to make huge amount of shareholders wealth in the coming years. It buybacks, it allots warrants, it generates huge amount of cash, it has got a wonderful under leveraged balance sheet. Selan is one sure shot winner for the longer run.3) Selan started conducting exploratory activities in its fields during FY10 to establish additional reserves, and to maximize production. These activities are expected to be completed any day now (or may have recently completed).The company had completed data acquisition in these fields earlier. Numbers has been flattish so far over the last couple of years as it was consolidating its resources and investing a lot in its proven fields. Over the next few quarters the company would actually be in a position to ramp up production massively and deliver an EPS of 65-70(2013-13).Value it as per the sector and the valuation would be in 4 digits. Even if at the present juncture we see the valuation of selan; EV/reserves of 1.1, marketcap to sales of around 7 with a row of over 35%,its the cheapest oil exploration company in the bourses.4) Selan’s production cost is $11 per barrel, which is reasonably low. Company pays $5 per barrel as Royalty to the government. The stock has delivered an annualized return of over 30% from 2000 to till date, much superior to the broader market. Hell, it’s even higher than what “Warren Buffet Sahab”s berkshire Hathaway delivered in the same period .In my view creating and delivering shareholder value has been well handled by Selan. Selan is now all set to start the process of returning value to shareholders while they continue the value creation process. An EV of 5% of 2P Reserves could lead to market capitalization of Rs.1650 Cr which results in a value of over 1000 bucks.5) Crude oil demand is projected to increase to about 1700 mn barrels per year by 2014. Rising global crude oil prices have triggered increased domestic exploration and production activity. Gas demand is expected to reach 400 mscmd by 2012-13.All this factors makes selan a big beneficiary and helps one to have a lot of conviction on the stock. Selan posses robust fundamentals, amazing pedigree quality, mind boggling prospects, low business risk and which is poised to benefit from a strong macro-economic environment. Selan also has fat cash on books worth rs 70 per share. Selan is a stock which can be kept for lifetime.

Market Outlook: Nifty Levels for 30 JULY’2012

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The Bse Index Closes on Friday at 16839 up 199 or +1.20% and the Nifty shut shop at 5100, up 57 points from the previous close or +1.13%. The CNX Midcap index was down 0.6% while the BSE Small cap index lost 1% in Friday’s trade. The market breadth was negative with advances at 478 against declines of 961 on the NSE.

The markets closed with noteworthy gains on Friday with metal, FMCG and IT being the lead gainers. Auto and banking, too, gained significantly while realty, capital goods and healthcare closed with moderate declines. Top Gainers in Friday’s Trade were Sterlite Industries, Tata Steel, Tata Motors and Hdfc Bank & Losers were Punjab National Bank, State Bank of India, Bank of Baroda and Jai Prakash Associates.

Stock Cipher:

  • Wockhardt has sold its nutrition business to Dannone for Rs 1280 cr.
  • SBI has raised USD 1.25 billion through a dollar- denominated bond issue.
  • Onmobile Global has given the permission to Avendus to assess its value. Atleast, two shareholders are looking to sell stake.
  • Fitch has downgraded Tulip Telecom to ‘A-‘ from ‘A+’. The Co has still not tied up funds for USD 97million FCCB (foreign currency convertible bond) redemption.
  • Sun TV tanks 20% on possible CBI charge sheet against Marans.
  • Punjab National Bank Q1 Net Profit at Rs 1,246 Cr Vs Rs 1,105 Cr (YoY); NII at Rs 3,695 Cr Vs Rs 3115 Cr (YoY).
  • Dena Bank Q1 net profit at Rs 238.63 cr vs Rs 168.09 cr (YoY); NII at Rs 612.24 cr vs Rs 446.55 cr (YoY).
  • Union Bank Q1 net profit at Rs 512 cr vs Rs 464 cr (YoY); NII at Rs 1822 cr vs Rs 1590 cr (YoY).
  • ICICI Bank Q1 Net Profit at Rs 1815 Cr Vs Rs 1,332 Cr (YoY); NII at Rs 3,193 Cr Vs Rs 2,410.9 Cr (YoY).
  • HCC Q1 net loss at Rs 30.9 cr vs profit of Rs 3 cr (YoY); total income at Rs 969.4 cr vs Rs 1,058 cr (YoY).
  • Bank of India Q1 Net Profit at Rs 887.4 Cr Vs Rs 517.5 Cr (YoY); NII at Rs 2,044 Cr Vs Rs 1,841 Cr (YoY).
  • TVS Motor Q1 Net Profit at Rs 51 Cr Vs Rs 58.8 Cr (YoY); Revenue at Rs 1,819.8 Cr Vs Rs 1,746 Cr (YoY).
  • NTPC Q1 Net Profit at Rs 2,499 Cr Vs Rs 2,076 Cr (YoY); Net Sales at Rs 15,960 Cr Vs Rs 14,171 Cr (YoY).
  • Dewan Housing Q1 net profit at Rs 77.8 cr vs Rs 93.7 cr (YoY); revenue at Rs 738 cr vs Rs 720 cr (YoY).
  • MRPL Q1 net loss at Rs 1,521 cr vs Rs 172.7 cr profit (yoy); GRM at (-) USD 4.15/bbl vs USD 3.72/bbl (yoy).

Last Close at 5099 up 56 points, Last High at 5149 Low at 5077, Weekly High at 5257 and low at 5032 and 5 DMA at 5100, 20 DMA at 5223, 50 DMA at 5106 and 200 DMA at 5101.

5-Days Relative Strength Index at 38 and 14-Days Relative Strength Index at 43. It Indicates Nifty Placed in BEARISH precinct.

SENSEX {16,840}: RESISTANCE @ It has the First resistance close to the level 16995 and above the level marks the track point at 17150 later zooper levels at 17306 marks.

SUPPORT @ It has the first support close to the level of 16663 and below this level mark next support is seen at 16484 later dipping levels near 15329 marks.

NIFTY {5100}: RESISTANCE @ It has the First resistance close to the level 5192 and above the level marks the track point at 5284 later zooper levels at 5377 marks.

SUPPORT@ It has the first support close to the level of 5025 and below this level mark next support is seen at 4950 later dipping levels near 4858 marks.

NIFTY FUT MOMENTUM CALLS FOR 30 Jul’2012:

—————————————————————

Buy Nifty August Future above 5155 Sl 5133 Tgt 5177-5199 {Or} Sell Nifty August Future below 5111 Sl 5133 Tgt 5089-5066.

Market Weekly Outlook

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  • The week begins on a cynical note as financial uncertainties in Euro zone continued to preoccupy the investors. We had mentioned a key support of 5159 level in our previous report. As expected, a breach of this level had triggered immense selling pressure and indices plunged drastically on Thursday’s session to test the mentioned support level of 5041. On Friday’s session, surprisingly, indices opened significantly higher on the back of strong closing from European and US markets after the ECB president, Mario Draghi, said that the European Central Bank would do “Whatever it Takes” to ensure the survival of the Euro. However, indices pared most of their early gains during the second half the session on Friday to close at the 5100 mark. We witnessed strong selling pressure in the Midcap and Small Cap counters during the last two trading sessions of the week. On the sectoral front, Capital Goods, Banking, Metal and realty sectors counters plunged during the week; whereas FMCG was the only sector to close in the positive territory. The Sensex closed with a loss of 1.86%; whereas Nifty lost 2.02% vis-à-vis the previous week.
  • Despite strong global cues, our benchmark indices faced immense selling pressure near day’s high on Friday’s session. The selling pressure was mainly seen in PSU Banks and other midcap counters. Indices are now hovering around the strong support zone of ‘200-day SMA’ and 50% Fibonacci retracement level, which is around 5100 – 5032, respectively. We are also observing a positive crossover in the daily ‘Stochastic’ oscillator. Hence, the possibility of a bounce back from current levels cannot be ruled out. The immediate resistance for the market is seen at 5150 level. If indices manage to sustain above this level, then the indices may rally further towards 5257 – 5300 levels. On the downside, last week’s low of 5032 would act as a strong support level for the markets. A breach of this level would augment pessimism and indices are likely to test 4991 – 4950 levels The coming week is likely to be volatile on account of RBI Monetary policy announcement on Tuesday’s session. Hence, we advise traders to stay light on the positions and avoid taking undue risks prior to the policy announcement.

Nifty Fibo Fans:

As we discussed previous Fibonacci fans are a magnificent tools to find Swing Top and Swing Bottom of Nifty. As Shown above 5043 seems to be swing bottom as Fibo charts.

Nifty Fibo Retracement:

 

Nifty Fibonacci Retracements from 4770-5350 are drawn above chart. Closer look at the same gives that Nifty has been consolidating in the range of 50% retracement at 5060 and 61.8% retracement at 5127.

Nifty Weekly Chart:

 

Contracting Triangle with resistance at 21 Week ema at 5152 and trading between a parallel channel with HAMMER Candle Stick Formation which is a reversal pattern, close above 5152 will give more weight age to this pattern.

 

Rising Wedge pattern on Weekly Charts, which became active with breakdown below 5285 and eventually touching 5043 as we saw the following up action once 5169 got broken.

Market Outlook: Nifty Levels for 27 JULY’2012

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The Bse Index Closes at 16640 down 206 or -1.22% and the Nifty shut shop at 5043 down 67 points from the previous close or -1.30%. The CNX Midcap index was down 2% while the BSE Small cap index lost 2.1%. The market breadth was negative with advances at 331 against declines of 1133 on the NSE.

Achilles’ heel in banking took its toll on the markets today with both benchmark indices closing with noteworthy losses. All sectoral indices closed in the red and along with banking, realty, capital goods, IT and metal, too, closed with substantial declines. Top Gainers in Yesterday Trade were Ambuja Cement, Ntpc, Bajaj-Auto and Grasim Industries & Losers were Pnb, Dlf, Tata Power, and Tata Motors.

Stock Cipher:

  • Biocon Q1 cons net profit at Rs 79 cr vs Rs 70 cr (YoY); cons total revenue at Rs 593 cr vs Rs 443 cr (YoY).
  • JSW Ispat Steel Q4 net profit at Rs 478 cr vs loss of Rs 1130 cr (YoY); net sales at Rs 2,855 cr vs Rs 2,412 cr (YoY)HCL Tech Q4 net profit at Rs 854 cr vs Rs 603 cr (QoQ).
  • India Bulls Real Estate Q1FY13 (QoQ) revenue down 52% at Rs 214.6 cr vs 445.2 cr; PAT down 38% at Rs 37.7 cr vs 56 cr.
  • Raymond Q1FY13 Consolidated YoY Cons net loss of Rs 35 Cr vs profit of Rs 10.7 Cr; Cons income from operations at RS 867 cr.
  • Atul Q1FY13 YoY Net profit at Rs 37.5 Cr vs Rs 18.5 Cr; Net Sales at Rs 495 Cr vs Rs 404 Cr.
  • Orissa Minerals Development Company has merged Bisra Stone Lime with itself. It may also consider a bonus issue.
  • Lupin is planning to launch generic version of GSK’s USD 8 billion dry powder inhaler, Advair.
  • Reliance Media Works has got the nod to raise Rs 600 cr via rights issue.
  • SRF has agreed for Rs 42.9 cr capex in Dahej fluorinated specialty plant.
  • JSW Steel said that it will merge Ispat with itself once Ispat becomes profitable, reports PTI.
  • Apollo Hospitals has allotted 32.7 lakh warrants to promoters at Rs 476.46/share.
  • ITC Q1 PAT likely to grow 19% to Rs 1,581 cr.
  • BHEL Q1 net profit at Rs 921 cr; sales at Rs 8326.2 cr.
  • Thermax Q1 net profit at Rs 67.2 cr vs Rs 80 cr (YoY); net sales at Rs 973 cr vs Rs 1,044 cr (YoY).
  • Venus Remedies has got US patent for antibiotic product Potentox.
  • Bajaj Electricals Q1 net profit at Rs 12 cr vs Rs 11.1 cr (YoY); net sales at Rs 664 cr vs Rs 544 cr (YoY)
  • Subex has allotted 1.74 cr shares on FCCB (foreign currency convertible bonds) conversion to two Mauritius PE (private equity) funds.
  • Alstom India Q1 net profit at Rs 13 cr Vs Rs 6.3 cr (YoY); net sales at Rs 440 cr vs  Rs 279.6 cr (YoY)
  • Ambuja Cements Q2 net profit at Rs 469 cr vs Rs 347.5 cr (YoY); net sales at Rs 2,566 cr vs Rs 2,173 cr (YoY). EBITDA Margin at 28.2% Vs 26.8% (YoY)
  • Arvind Q1 cons net profit at Rs 32.4 Cr Vs rs 61 Cr (YoY); cons net sales at Rs 1,177 Cr Vs rs 1,190.2 Cr (YoY).
  • Rupee at close: Rupee ends at 55.52 to the dollar vs 56.16 on Wednesday.

Last Close at 5043 down 66 points, Last High at 5126 Low at 5032, Weekly High at 5527 and low at 5032 and 5 DMA at 5121, 20 DMA at 5232, 50 DMA at 5102 and 200 DMA at 5099.

5-Days Relative Strength Index at 16 and 14-Days Relative Strength Index at 36. It Indicates Nifty Placed in OVERSOLD precinct.

SENSEX {16,640}:

RESISTANCE: It has the First resistance close to the level 16960 & above the level marks the track point at 17280 later zooper level at 17600 marks.

SUPPORT:  It has the first support close to the level of 16462 & below this level mark next support is seen at 16284 later dipping level near 15964 marks.

NIFTY {5043}:

RESISTANCE: It has the First resistance close to the level 5066 & above the level marks the track point at 5111 later zooper level at 5133 marks.

SUPPORT:  It has the first support close to the level of 5022 & below this level mark next support is seen at 5000 later dipping level near 4977 marks.

Market Outlook: Nifty Levels for 26 JULY’2012

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The Bse Index Closes at 16846 down 72 or -0.43% and the Nifty shut shop at 5110 down 19 points from the previous close or – 0.36%. The CNX Midcap index was down 0.7% while the BSE Small cap index lost 0.8%. The market breadth was negative with advances at 460 against declines of 972 on the NSE.

Maruti Suzuki India told they are not having any stock of Swift and D-Zire in factory (Manesar plant) with these competitors is hoping to make hay when the sun is shining. We also got to perceive sound from National Australia Bank saying, we imagine Greece will exit the single currency.

The recent past the National Stock Exchange decided to remove 51 stocks from F&O segment, which also had an impact on the equity market.

Stock Cipher:

  • Jindal Steel topes the selling list, falling more than 4% after disappointing numbers in Q1.
  • Hindalco, Sterlite Industries and Tata Steel were down 1.7%-2.4%.
  • HCL Tech Q4 net profit at Rs 854 cr vs Rs 603 cr (QoQ).
  • Infosys has failed to settle the case with Jack Palmer. The case will now go into trial on August 20.
  • Jindal Steel & Power has bought Canada’s CIC for Rs 600 cr
  • Wipro and Cognizant have bagged a contract worth approx. USD 250 m from Netherlands based Royal Philips Electronics.
  • Bosch is planning to shut Jaipur plant for 10 days to avoid inventory pile-up.
  • Eicher Motors forms joint venture with US-based Polaris Ind. to produce personal vehicles by 2015
  • Ultratech Cement has bought 100% stake in Gotan Lime Stone, no other details have been disclosed.
  • NIIT Q1 net profit at Rs 11.5 cr vs 5.5 cr (YoY); cons revenue at Rs 227.5 cr vs Rs 219 cr (YoY). EBITDA at Rs 11.4 cr Vs Rs 16.7 cr (YoY).
  • Alstom India has got an order of worth Rs 344.5 cr from NTPC.
  • Power Grid Q1 net profit at Rs 870 cr vs Rs 705 cr (YoY); total income at Rs 2,888.2 cr vs 3,080 cr (YoY)
  • Jubilant Foodworks Q1 net profit at Rs 32 cr vs Rs 283.2 cr (YoY); total income at Rs 314.5 cr vs Rs 29.3 cr (YoY)

Last Close at 5109 down 19 points, Last High at 5121 Low at 5076, Weekly High at 5527 and low at 5076 and 5 DMA at 5161, 20 DMA at 5237, 50 DMA at 5099 and 200 DMA at 5098

5-Days Relative Strength Index at 24 and 14-Days Relative Strength Index at 42. It Indicates Nifty Placed in Bearish Zone.

RESISTANCE: It has the First resistance close to the level 5133 & above the level marks the track point at 5155 later zooper level at 5177 mark.

SUPPORT:  It has the first support close to the level of 5088 & below this level mark next support is seen at 5066 later dipping level near 5044 mark.

Market Outlook: Nifty Levels for 11 JULY 2012

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Past a subdued performance yesterday, the markets spring up as the bulls outclassed the
bears. The European markets shot up with the decision of EU council to speed $123 billion aid to Spanish banks boosting the Indian markets. Also Spain’s 10year bond rose above 7% threshold that prompted bailouts in Greece, Ireland & Portugal. However Chinese markets touched a 6month low due to slow growth in exports and extravagant rise in imports which had a drastic impact on the Asian markets as they performed negatively. Oil prices fell for the 3rd time in 4days as the strike in Norway about the halt in production ended today. Optimism led market rally as industrial output accelerated to a modest pace of 1.8% YoY in May which will have a positive impact on industrial sector. The RBI’s policy review draws closer, expectations are building up that key rates are unlikely to be moved this time.

The Bse Index closes at 17618 up 226 points or +1.30% & Nifty closes at 5345, up 70 points from the previous close or +1.33%. CNX Midcap index was up 0.8% and the BSE Small cap index was up 0.8%. The market breadth was positive with advances at 953 against declines of 483 on the NSE.

Markets however showing positive signs they have not yet broken out of the range (5400-
5200). So still not a crystal clear time to enter and it’s better to wait patiently.

Last Close at 5345 up 70 points, Last High at 5348 Low at 5284, Weekly High at 5348 and low at 5557 and 5 DMA at 5313, 20 DMA at 5193, 50 DMA at 5059 and 200 DMA at 5085

5-Days Relative Strength Index at 73 and 14-Days Relative Strength Index at 68. It Indicates Nifty Placed in Bullish Zone.

RESISTANCE: It has the First resistance close to the level 5355 & above the level marks the track point at 5377 later zooper level at 5399 mark.

SUPPORT:  It has the first support close to the level of 5311 & below this level mark next support is seen at 5288 later dipping level near 5266 mark.

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Market Outlook: Nifty Levels for 06 JULY 2012

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The markets traded array bound throughout the day and closed with moderate gains. Midcap and small cap counters outperformed large cap stocks. Banking, FMCG, power and capital goods were the biggest gainers in yesterday’s session while realty and metal lost significantly.

The Bse Index closes at 17539 up 76 points or +0.43% & Nifty closes at 5327, up 25 points from the previous close or +0.47%. CNX Midcap index was up 0.8% and the BSE Small cap index was up 1.6%. The market breadth was positive with advances at 1079 against declines of 401 on the NSE.

Any Close Below 5155 will drag more Downside

Last Close at 5327 up 25 points, Last High at 5333 Low at 5288, Weekly High at 5333 and low at 5095 and 5 DMA at 5295, 20 DMA at 5158, 50 DMA at 5053 and 200 DMA at 5081

5-Days Relative Strength Index at 89 and 14-Days Relative Strength Index at 70. It Indicates Nifty Placed in Over Bought Zone.

RESISTANCE: It has the First resistance close to the level 5333 & above the level marks the track point at 5355 later zooper level at 5399 mark.

SUPPORT:  It has the first support close to the level of 5311 & below this level mark next support is seen at 5288 later dipping level near 5244 mark.