Markets opened on a gap-up note supported by positive global cues, but once again indices unable to sustain at higher level and closed in red. On the sectoral front IT, TECk and CD ended on the gainers side whereas metal and bankex ended on the losing side. The advance decline ratio was in favour of declining counters (Advances = 1082/ Declines=1565).
Pattern Formation: On the Daily chart, we are witnessing market failed to cross bullish engulfing
candle high which is at 4957.
Future Outlook: In view of the above pattern formation, it is evident that the momentum on the upside would continue only if nifty trades above the bullish engulfing pattern which is at 4957. Hence in coming trading session if nifty trades above 4920 level then only it is likely to test 4950-4980 level. On the downside, 4820-4780-4750 may act as support for the day. We maintain our previous view unless high of Bullish engulfing pattern is not crossed which is at 4957, one should adopt cautious approach towards the market.
FII & DII activity on 22-05-2012 – FII net buyers in index future to the amount of Rs 571.92 cr , in index options net buyers to the amount of Rs 30.41 Cr, in stock futures net buyers to the amount of Rs 247.39 Cr & in stock options net buyers to the amount of Rs 13.42 Cr. Overall FIIs were net buyers by Rs 863.14 Cr.
Capital Market Segment – FII trading activity net sellers of Rs 283.34 Cr & DII trading activity net buyers of Rs 207.60 Cr
Data Alert From Overseas -
• Japan Monetary Policy Statement and BOJ Press Conference.
• EU Economic Summit.
• US Crude Oil Inventories at 8:00 pm.
Domestic Sector News –
• AVIATION: Government is considering mass sacking of Air India's striking pilots, and a partial shutdown of the airline.
• CEMENT: The government has extended the anti-dumping duty on white cement imported from Iran and United Arab Emirates till Apr 11, 2013.
• FERTILIZER: Government's new investment policy for urea will see a major dilution due to the rise in natural gas prices in the international market.
• OIL & GAS: Petroleum Minister S. Jaipal Reddy has said there is an immediate need to hike fuel prices owing to depreciation of rupee against the dollar.
• TELECOM: Department of Telecommunications has said bilateral investment treaties invoked by three foreign telecom investors in the license cancellation matter will not apply as the cancellation came by an order of the Supreme Court.
Domestic Stock Specific News -
•Rupee falls to new all-time low of 55.20 vs 55.03 Mon end
• Pranab says global slowdown led to rupee fall, decline in exports
• Official says SBI may recast 37-bln-rupee loans given via consortium.
• ONGC, Oil India, GAIL to bear 181-bln-rupee subsidy burden Jan-Mar.
• Phillips 66 to provide gasification technology to RIL Jamnagar unit.
• Thomas Cook Group to sell 77% in India arm at 50 rupees/share
• India FY12 FDI equity inflow at record $36.5 bln, up 88% on year
• Govt says retrospective changes in tax laws not to hit FDI inflows
• RComm to begin road shows for FLAG telecom listing next week
International News -
• Fitch downgrade Japan to A+, outlook negative.
Today’s Result –
Amdind, Batliboi, BHEL, Canbk, Chennpetro, Cosmofilms, Dhanuka, Dharsugar, Dskulkarni, Elgirubco, FCSsoft, Gkwlimited, Grindwell, Gtntex, HGS, Hondapower, Indramedco, Jbchepharm, Jyothylab, Lakpre, Laxmimach, Microtech, MRPL, Mukandengg, Munjalshow, Nelcast, NRC, Patspinltd, Peacockind, RBL, RECLtd, Seinv, Stel, Subex, Sundrmbrak, Tataglobal, Tdpowersys, Techm, Uniply, Vaswani, Vinylindia, Wabcoindia.
Results Announced on 22-05-2012 -
•Power Finance Corp Jan-Mar net profit 818.30 cr rupees vs 607.53 cr rupees (Y-o-Y).
• Tata Comm Jan-Mar net profit 38.20 cr rupees vs 25.17 cr rupees (Y-o-Y).
• Gitanjali Gems Jan-Mar net profit 45.25 cr rupees vs 66.29 cr rupees (Y-o-Y).
• Wockhardt Jan-Mar net loss 191.64 cr rupees vs 161.83 cr rupees PAT (Y-o-Y).
• Opto Circuits Jan-Mar consol net profit 209.34 cr rupees vs 111.05 cr rupees (Y-o-Y).
• Tata power Jan-Mar consol net loss 629 cr rupees vs 625 cr rupees Profit (Y-o-Y).
Board Meeting (Purpose) - Honda Siel Power (Dividend), Premier Expl (Dividend), AMD Inds (Dividend), Rane Brake (Dividend), REC (Dividend), Indraprastha Med (Dividend), Jyothy Lab (Dividend), SE Investments (Dividend), BHEL (Dividend), Sentinel Tea (Dividend), Lakshmi Mach (Dividend), Lakshmi Prec (Dividend), Sundaram Brake (Dividend), Cosmo Films (Dividend), T D Power Systems (Dividend), Dhanuka Agri (Dividend), Mangalore Ref (Dividend), TATAGLOBAL (Dividend), Dharani Fin (Dividend), Tech Mahindra (Dividend), Dharani Sugars (Dividend), DS Kulkarni (Dividend), Microsec Fin Serv (Dividend), Modern India (Dividend), Munjal Showa (Dividend), Nelcast (Dividend), Vinyl Chemicals (Dividend), Grindwell Nor (Dividend), Paraan (Dividend), Hinduja Glob (Dividend).
Pattern Formation: On the Daily chart, we are witnessing market failed to cross bullish engulfing
candle high which is at 4957.
Future Outlook: In view of the above pattern formation, it is evident that the momentum on the upside would continue only if nifty trades above the bullish engulfing pattern which is at 4957. Hence in coming trading session if nifty trades above 4920 level then only it is likely to test 4950-4980 level. On the downside, 4820-4780-4750 may act as support for the day. We maintain our previous view unless high of Bullish engulfing pattern is not crossed which is at 4957, one should adopt cautious approach towards the market.
FII & DII activity on 22-05-2012 – FII net buyers in index future to the amount of Rs 571.92 cr , in index options net buyers to the amount of Rs 30.41 Cr, in stock futures net buyers to the amount of Rs 247.39 Cr & in stock options net buyers to the amount of Rs 13.42 Cr. Overall FIIs were net buyers by Rs 863.14 Cr.
Capital Market Segment – FII trading activity net sellers of Rs 283.34 Cr & DII trading activity net buyers of Rs 207.60 Cr
Data Alert From Overseas -
• Japan Monetary Policy Statement and BOJ Press Conference.
• EU Economic Summit.
• US Crude Oil Inventories at 8:00 pm.
Domestic Sector News –
• AVIATION: Government is considering mass sacking of Air India's striking pilots, and a partial shutdown of the airline.
• CEMENT: The government has extended the anti-dumping duty on white cement imported from Iran and United Arab Emirates till Apr 11, 2013.
• FERTILIZER: Government's new investment policy for urea will see a major dilution due to the rise in natural gas prices in the international market.
• OIL & GAS: Petroleum Minister S. Jaipal Reddy has said there is an immediate need to hike fuel prices owing to depreciation of rupee against the dollar.
• TELECOM: Department of Telecommunications has said bilateral investment treaties invoked by three foreign telecom investors in the license cancellation matter will not apply as the cancellation came by an order of the Supreme Court.
Domestic Stock Specific News -
•Rupee falls to new all-time low of 55.20 vs 55.03 Mon end
• Pranab says global slowdown led to rupee fall, decline in exports
• Official says SBI may recast 37-bln-rupee loans given via consortium.
• ONGC, Oil India, GAIL to bear 181-bln-rupee subsidy burden Jan-Mar.
• Phillips 66 to provide gasification technology to RIL Jamnagar unit.
• Thomas Cook Group to sell 77% in India arm at 50 rupees/share
• India FY12 FDI equity inflow at record $36.5 bln, up 88% on year
• Govt says retrospective changes in tax laws not to hit FDI inflows
• RComm to begin road shows for FLAG telecom listing next week
International News -
• Fitch downgrade Japan to A+, outlook negative.
Today’s Result –
Amdind, Batliboi, BHEL, Canbk, Chennpetro, Cosmofilms, Dhanuka, Dharsugar, Dskulkarni, Elgirubco, FCSsoft, Gkwlimited, Grindwell, Gtntex, HGS, Hondapower, Indramedco, Jbchepharm, Jyothylab, Lakpre, Laxmimach, Microtech, MRPL, Mukandengg, Munjalshow, Nelcast, NRC, Patspinltd, Peacockind, RBL, RECLtd, Seinv, Stel, Subex, Sundrmbrak, Tataglobal, Tdpowersys, Techm, Uniply, Vaswani, Vinylindia, Wabcoindia.
Results Announced on 22-05-2012 -
•Power Finance Corp Jan-Mar net profit 818.30 cr rupees vs 607.53 cr rupees (Y-o-Y).
• Tata Comm Jan-Mar net profit 38.20 cr rupees vs 25.17 cr rupees (Y-o-Y).
• Gitanjali Gems Jan-Mar net profit 45.25 cr rupees vs 66.29 cr rupees (Y-o-Y).
• Wockhardt Jan-Mar net loss 191.64 cr rupees vs 161.83 cr rupees PAT (Y-o-Y).
• Opto Circuits Jan-Mar consol net profit 209.34 cr rupees vs 111.05 cr rupees (Y-o-Y).
• Tata power Jan-Mar consol net loss 629 cr rupees vs 625 cr rupees Profit (Y-o-Y).
Board Meeting (Purpose) - Honda Siel Power (Dividend), Premier Expl (Dividend), AMD Inds (Dividend), Rane Brake (Dividend), REC (Dividend), Indraprastha Med (Dividend), Jyothy Lab (Dividend), SE Investments (Dividend), BHEL (Dividend), Sentinel Tea (Dividend), Lakshmi Mach (Dividend), Lakshmi Prec (Dividend), Sundaram Brake (Dividend), Cosmo Films (Dividend), T D Power Systems (Dividend), Dhanuka Agri (Dividend), Mangalore Ref (Dividend), TATAGLOBAL (Dividend), Dharani Fin (Dividend), Tech Mahindra (Dividend), Dharani Sugars (Dividend), DS Kulkarni (Dividend), Microsec Fin Serv (Dividend), Modern India (Dividend), Munjal Showa (Dividend), Nelcast (Dividend), Vinyl Chemicals (Dividend), Grindwell Nor (Dividend), Paraan (Dividend), Hinduja Glob (Dividend).
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