Markets opened up with a gap traded in a narrow band and witnessed selling tin the latter half of the session to close in red. On the sectoral front Capital Goods, Health Care, and Realty led the fall whereas Consumer Durable and FMCG ended up with minor gains. The advance decline ratio was in favour of advancing counters (Advances = 1447/ Declines=1260).
Pattern Formation: On the Daily chart, we are observing that prices breached the downward sloping channel on intraday basis but close marginally below the 200-day SMA (5066).
Future Outlook: After a six days rally we are witnessing a bear candle which has marginally closed 200-day SMA (5066). At present hourly chart are still in a higher top higher bottom formation. In coming trading session 5077 is crucial level for upside momentum to continue .Hence if nifty for first hour trade above 5077 level then it may retest 5100 – 5120 levels. On the downside, 5010 – 4964 may act as support for the day.
Data Alert From India –
• Index of Industrial Production for Apr, by CSO.
Data Alert From Overseas -
• French Final Non-Farm Payrolls q-o-q at 11:0 am.
• US Import Prices m-o-m at 6:00 pm.
• US Federal Budget Balance at 11:30 pm.
Domestic Sector News –
• AUTOMOTIVE: Society of Indian Automobile Manufacturers may downgrade sales growth projections for 2012-13 (Apr-Mar) for the passenger vehicles segment in its quarterly review in July.
• TELECOM: Empowered Group of Ministers on telecom spectrum is unlikely to reduce the reserve price of airwaves in the upcoming second-generation mobile telephony spectrum auctions.
Government may allow incumbent players to bid for only one slot of 1.25 Mhz spectrum in the upcoming second generation mobile telephony spectrum auction, while there will be no such cap on new players.
Domestic Stock Specific News -
• AUROBINDO PHARMA: Promoter P. Suneela Rani has pledged 5 mln shares of the company.
• CMC: Received an order from UK's Forth Ports to provide terminal operations solutions at London Container Terminal
• DLF: Has completed sale of arm DLF Hotels & Hospitality to a Kolkata-based consortium.
• EVERONN EDUCATION: JM Financial Products' stake in the company rises to 5.04% from 4.86% earlier.
• OIL AND NATURAL GAS CORP: Has extended its pact with Hinduja Group's Ashok Leyland Project Services for sourcing liquefied natural gas from Iran and other West Asian countries by another year
International News -
• In April 2012, manufacturing output decreased in volume (-0.7%). It had strongly increased in March (+1.4%). Macro Economic Calendar Date
Securities in Ban For Trade Date 12-06-2012
ABAN, ABGship, Coreedutec, Suzlon
Today’s Result –
Gufic Bio, Shri Dinesh
EX- Dividend + Board Meeting -
EX- Dividend - Indo Rama Syn, Ratnabali Cap. Board Meeting (Purpose) – Gufic Bio (Dividend), Shri Dinesh (Dividend), Zyden Gentec (Consolidation of Shares)
Pattern Formation: On the Daily chart, we are observing that prices breached the downward sloping channel on intraday basis but close marginally below the 200-day SMA (5066).
Future Outlook: After a six days rally we are witnessing a bear candle which has marginally closed 200-day SMA (5066). At present hourly chart are still in a higher top higher bottom formation. In coming trading session 5077 is crucial level for upside momentum to continue .Hence if nifty for first hour trade above 5077 level then it may retest 5100 – 5120 levels. On the downside, 5010 – 4964 may act as support for the day.
Data Alert From India –
• Index of Industrial Production for Apr, by CSO.
Data Alert From Overseas -
• French Final Non-Farm Payrolls q-o-q at 11:0 am.
• US Import Prices m-o-m at 6:00 pm.
• US Federal Budget Balance at 11:30 pm.
Domestic Sector News –
• AUTOMOTIVE: Society of Indian Automobile Manufacturers may downgrade sales growth projections for 2012-13 (Apr-Mar) for the passenger vehicles segment in its quarterly review in July.
• TELECOM: Empowered Group of Ministers on telecom spectrum is unlikely to reduce the reserve price of airwaves in the upcoming second-generation mobile telephony spectrum auctions.
Government may allow incumbent players to bid for only one slot of 1.25 Mhz spectrum in the upcoming second generation mobile telephony spectrum auction, while there will be no such cap on new players.
Domestic Stock Specific News -
• AUROBINDO PHARMA: Promoter P. Suneela Rani has pledged 5 mln shares of the company.
• CMC: Received an order from UK's Forth Ports to provide terminal operations solutions at London Container Terminal
• DLF: Has completed sale of arm DLF Hotels & Hospitality to a Kolkata-based consortium.
• EVERONN EDUCATION: JM Financial Products' stake in the company rises to 5.04% from 4.86% earlier.
• OIL AND NATURAL GAS CORP: Has extended its pact with Hinduja Group's Ashok Leyland Project Services for sourcing liquefied natural gas from Iran and other West Asian countries by another year
International News -
• In April 2012, manufacturing output decreased in volume (-0.7%). It had strongly increased in March (+1.4%). Macro Economic Calendar Date
Securities in Ban For Trade Date 12-06-2012
ABAN, ABGship, Coreedutec, Suzlon
Today’s Result –
Gufic Bio, Shri Dinesh
EX- Dividend + Board Meeting -
EX- Dividend - Indo Rama Syn, Ratnabali Cap. Board Meeting (Purpose) – Gufic Bio (Dividend), Shri Dinesh (Dividend), Zyden Gentec (Consolidation of Shares)
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