Market Outlook: Nifty Levels for 27 JULY’2012

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.