MARKET TECHNICAL OUTLOOK
Markets opened on a positive note but were unable to sustain earlyhour gains as selling emerged at higher level which led the indices toclose marginally in red. On the sectoral front Metal and Auto
contributed to the fall whereas Oil & Gas and Consumer Durable ended with marginal gains. The Advance decline ratio was in favour of declining counters (Advances = 1239/ Declines=1524).
Pattern Formation: On the Daily chart, for two consecutive trading sessions we are witnessing narrow range body formation. Further the 20-day EMA and the 200-day SMA is on the verge of giving a negative crossover. This is sign of weakness.
Future Outlook: In view of the above formation on the daily chart, it is evident that market is cautious at current level. In coming trading session 4950 is crucial support if breached then nifty may test 4900 –4870 level. On the flip side if for first hour nifty manages to close above 4990 level then we may witness a pullback rally up o 5050 – 5070 level.
Data Alert From India –
• Index of Industrial Production for March by CSO.
Data Alert From Overseas –
• Producer Price Index Input m-o-m of Britain at 2:00 pm.
• Core Producer Price Index m-o-m of US at 6:00 pm.
Domestic Sector News –
• BANKING: RBI has asked banks to draft a board-approved policy regarding takeover of loan accounts from another bank.
• COAL: Ministry has directed coal companies to supply coal topower plants commissioned until Mar 31 as well as those to becommissioned in 2012-13 (Apr-Mar).
• ENERGY: Competition Commission of India has rejected cartelisation charges leveled against state-owned oil retailers in bio-diesel purchases.
• PHARMACEUTICALS: Several drug manufacturers, accused of colluding with the Drug Controller General of India and medical experts to allegedly violate approval norms, have denied the
charges.
• TELECOM: Supreme Court will today hear the Presidentialreference seeking its opinion on various issues arising out of the judgment that found auction was the best suited route for
allocation of natural resources.
Domestic Stock Specific News -
• India's exports return to positive territory; Apr exports up 3.2%.
• RBI says 50% of FX account balances must be converted into rupees.
• India Apr car sales up 3.4% on year at 168,351 units.
• Govt says not yet received SC notice on RIL KG-D6 arbitration.
• Kingfisher's Delhi ATR pilots report sick on non-payment of salary.
• Suzlon arm REpower gets order for 19 wind turbines in Poland.
• Head says MTNL has proposed returning broadband wireless spectrum.
International News -
• U.K. manufacturing output rose 0.9 % from February, when it fell a downwardly revised 1.1 %.
The FII total buying on 10-05-2012 is Rs 317.42 cr while DII total selling Rs 143.53 cr.
Today’s Result –
Abcil, Greavescot, MTNL, Ahleast, Gslnova, Nandanexim, Astrazen, Hathway, Nilkamal, Avanti, ICRA, OFSS, Balajitele, Indianb, Patintlog, Cebbco, Jdorgochem, Salonacot, Dalmiasug, Kanorichem, Shaktipump, Dcmsrmcons, Kcpsugind, Smobility, DRREDDY, Krishnaeng, Tanla, Elforge, Kwality, Tcifinance, Essaroil, Lakshmiefl, Thermax, FEDERALBNK, Libertshoe, Torntpower, Graphite, Lloydeleng.
Results Announced on 10-05-2012 -
•Prism cement Jan-Mar net profit 36.54 cr rupees vs 35.69 cr rupees (YoY).
• Apollo tyres Jan-Mar net profit 72.25 cr rupees vs 66.19 cr rupees (YoY).
• Jubilant Foodworks Jan-Mar net profit at 29.33 cr rupees vs 19.32 cr rupees (YoY).
• NTPC Jan-Mar net profit 2593.44 cr rupees vs 2781.84 cr rupees (YoY).
• Cadila Healthcare Jan-Mar cons net profit 170.88 cr rupees vs 178.97 cr rupees (YoY).
• Dewan Housing Finance Jan-Mar net profit 93.76 cr rupees vs 58.65 cr rupees (YoY).
• Usha Martin Jan-Mar net profit at 7.6 mln rupees vs 330.3 mln rupees (YoY).
• Escorts Jan-Mar PAT 18.12 cr rupees vs 73.22 cr rupees (YoY).
• Cipla Jan-Mar net profit 291.74 cr rupees vs 214 cr rupees (YoY).
• HEG Jan-Mar net profit 4.99 cr rupees vs 34.36 cr rupees (YoY).
• Lupin Jan-Mar net profit 248.89 cr rupees vs 243.75 cr rupees (YoY).
• Canara Bank of India Jan-Mar net profit at 829.09 cr rupees vs 898.90 cr rupees (YoY).
• Century Plyboards Jan-Mar cons net profit at 698.69 cr rupees vs 514.92 cr rupees (YoY).
EX- Dividend + Board Meeting -
EX- Dividend – Bosch.
Board Meeting (Purpose) – ABC Bearings (Dividend), Greaves Cotton (Dividend), Nitta Gelatin (Dividend), Oracle Fin 1(Dividend), Aeonian Invest (Dividend), Asian Hotels (Dividend), ASM Tech (Dividend), Hatsun Agro (General), Balaji Tele (Dividend), ICRA (Dividend), Indian Bank (Dividend), Shantivijay Jew (Dividend), Daiichi Kark (Dividend), DALMIASUG (Dividend), Sungold Cap (General), DCM Shriram Cons Dividend, Kanoria Chem Dividend, KCP Sugar Dividend, Dr Reddys Lab (Dividend), Thermax (Dividend), Torrent Power (Dividend), Federal Bank (Dividend), Transcorp Intl (Dividend), Graphite India (Dividend), Nilkamal (Dividend).
Markets opened on a positive note but were unable to sustain earlyhour gains as selling emerged at higher level which led the indices toclose marginally in red. On the sectoral front Metal and Auto
contributed to the fall whereas Oil & Gas and Consumer Durable ended with marginal gains. The Advance decline ratio was in favour of declining counters (Advances = 1239/ Declines=1524).
Pattern Formation: On the Daily chart, for two consecutive trading sessions we are witnessing narrow range body formation. Further the 20-day EMA and the 200-day SMA is on the verge of giving a negative crossover. This is sign of weakness.
Future Outlook: In view of the above formation on the daily chart, it is evident that market is cautious at current level. In coming trading session 4950 is crucial support if breached then nifty may test 4900 –4870 level. On the flip side if for first hour nifty manages to close above 4990 level then we may witness a pullback rally up o 5050 – 5070 level.
Data Alert From India –
• Index of Industrial Production for March by CSO.
Data Alert From Overseas –
• Producer Price Index Input m-o-m of Britain at 2:00 pm.
• Core Producer Price Index m-o-m of US at 6:00 pm.
Domestic Sector News –
• BANKING: RBI has asked banks to draft a board-approved policy regarding takeover of loan accounts from another bank.
• COAL: Ministry has directed coal companies to supply coal topower plants commissioned until Mar 31 as well as those to becommissioned in 2012-13 (Apr-Mar).
• ENERGY: Competition Commission of India has rejected cartelisation charges leveled against state-owned oil retailers in bio-diesel purchases.
• PHARMACEUTICALS: Several drug manufacturers, accused of colluding with the Drug Controller General of India and medical experts to allegedly violate approval norms, have denied the
charges.
• TELECOM: Supreme Court will today hear the Presidentialreference seeking its opinion on various issues arising out of the judgment that found auction was the best suited route for
allocation of natural resources.
Domestic Stock Specific News -
• India's exports return to positive territory; Apr exports up 3.2%.
• RBI says 50% of FX account balances must be converted into rupees.
• India Apr car sales up 3.4% on year at 168,351 units.
• Govt says not yet received SC notice on RIL KG-D6 arbitration.
• Kingfisher's Delhi ATR pilots report sick on non-payment of salary.
• Suzlon arm REpower gets order for 19 wind turbines in Poland.
• Head says MTNL has proposed returning broadband wireless spectrum.
International News -
• U.K. manufacturing output rose 0.9 % from February, when it fell a downwardly revised 1.1 %.
The FII total buying on 10-05-2012 is Rs 317.42 cr while DII total selling Rs 143.53 cr.
Today’s Result –
Abcil, Greavescot, MTNL, Ahleast, Gslnova, Nandanexim, Astrazen, Hathway, Nilkamal, Avanti, ICRA, OFSS, Balajitele, Indianb, Patintlog, Cebbco, Jdorgochem, Salonacot, Dalmiasug, Kanorichem, Shaktipump, Dcmsrmcons, Kcpsugind, Smobility, DRREDDY, Krishnaeng, Tanla, Elforge, Kwality, Tcifinance, Essaroil, Lakshmiefl, Thermax, FEDERALBNK, Libertshoe, Torntpower, Graphite, Lloydeleng.
Results Announced on 10-05-2012 -
•Prism cement Jan-Mar net profit 36.54 cr rupees vs 35.69 cr rupees (YoY).
• Apollo tyres Jan-Mar net profit 72.25 cr rupees vs 66.19 cr rupees (YoY).
• Jubilant Foodworks Jan-Mar net profit at 29.33 cr rupees vs 19.32 cr rupees (YoY).
• NTPC Jan-Mar net profit 2593.44 cr rupees vs 2781.84 cr rupees (YoY).
• Cadila Healthcare Jan-Mar cons net profit 170.88 cr rupees vs 178.97 cr rupees (YoY).
• Dewan Housing Finance Jan-Mar net profit 93.76 cr rupees vs 58.65 cr rupees (YoY).
• Usha Martin Jan-Mar net profit at 7.6 mln rupees vs 330.3 mln rupees (YoY).
• Escorts Jan-Mar PAT 18.12 cr rupees vs 73.22 cr rupees (YoY).
• Cipla Jan-Mar net profit 291.74 cr rupees vs 214 cr rupees (YoY).
• HEG Jan-Mar net profit 4.99 cr rupees vs 34.36 cr rupees (YoY).
• Lupin Jan-Mar net profit 248.89 cr rupees vs 243.75 cr rupees (YoY).
• Canara Bank of India Jan-Mar net profit at 829.09 cr rupees vs 898.90 cr rupees (YoY).
• Century Plyboards Jan-Mar cons net profit at 698.69 cr rupees vs 514.92 cr rupees (YoY).
EX- Dividend + Board Meeting -
EX- Dividend – Bosch.
Board Meeting (Purpose) – ABC Bearings (Dividend), Greaves Cotton (Dividend), Nitta Gelatin (Dividend), Oracle Fin 1(Dividend), Aeonian Invest (Dividend), Asian Hotels (Dividend), ASM Tech (Dividend), Hatsun Agro (General), Balaji Tele (Dividend), ICRA (Dividend), Indian Bank (Dividend), Shantivijay Jew (Dividend), Daiichi Kark (Dividend), DALMIASUG (Dividend), Sungold Cap (General), DCM Shriram Cons Dividend, Kanoria Chem Dividend, KCP Sugar Dividend, Dr Reddys Lab (Dividend), Thermax (Dividend), Torrent Power (Dividend), Federal Bank (Dividend), Transcorp Intl (Dividend), Graphite India (Dividend), Nilkamal (Dividend).
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