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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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