Markets opened on a subdued note traded in a narrow range throughout the day to close marginally in green. On the sectoral front Capital Goods, FMCG ended with decent gains whereas Auto and Realty ended on the losing side. The advance decline ratio was in favour of advancing counters (Advances = 1403/ Declines=1301).
Pattern Formation: On the Daily chart, after a breakout from the downward sloping channel we are observing a Doji candlestick pattern. This reflects indecisiveness prevailing at current level.
Future Outlook: In view of the above formation it is evident that markets a circumspect at current level. However, the hourly chart is still maintaining a higher top highs bottom formation. In coming trading session if nifty for first hour trades and sustain above 5145 level then it may test 5200 – 5220 level. On the downside 5060 – 5020 may act as support for the day. Since inflation data is going to be announced today we are likely to witness volatile session.
Data Alert From India –
• WPI inflation for May, to be detailed by commerce and industry ministry.
Data Alert From Overseas -
• Core Consumer Price Index m-o-m of US at 6.00 pm.
• Unemployment Claims of US at 6.00 pm.
Domestic Sector News –
• BANKING: Government may exempt state-owned banks from paying dividend as part of its move to set up a single holding company to meet their capital requirements.
• CAPITAL GOODS: Government will soon restrict import of used plant and machinery to safeguard the productivity and competitiveness of Indian manufacturers.
• COAL: Coal ministry has said it would review the output of coal companies on a monthly basis instead of once every two months.
• FERTILIZERS: Cabinet Committee on Economic Affairs will discuss the proposal to hike urea price by 10%. Domestic Stock Specific News -
• CARBORUNDUM UNIVERSAL: Has entered into a technical collaboration with UK-based Sheffield Refractories and Anderman Ceramics to manufacture and supply refractory solutions and aerospace components
• COAL INDIA: Company's arm, South Eastern Coalfields has suspended supply to Unit-2 of LANCO INFRATECH's Amarkantak power project in Chhattisgarh, on the ground that the company has not signed any long-term power purchase agreement with any state distribution company.
• HOTEL LEELAVENTURE: Lenders have approved company's 43-bln-rupee loan restructuring package.
• MOSER BAER INDIA: Is seeking restructuring of its foreign currency convertible bonds worth $150 mln, which are due for maturity on Jun 21.
International News -
• In May 2012, consumer prices in Germany were up 1.9% on May 2011.
• Moody's Investors Service cut Spain's debt rating by three notches to Baa3.
Securities in Ban For Trade Date 14-06-2012
ABAN, ABGship, Coreedutec, Suzlon, Jetairways.
Today’s Result –
Atharv Enter, Cigniti Tech .
EX- Dividend + Board Meeting -
EX- Dividend - Axis Bank, Bank of Maharashtra, BOB, Canara Bank, ING Vysya Bank, JSW energy, Nakoda, PNB, Punjab & Sind Bank, Torrent Power, United Bank, Videocon Inds. Board Meeting (Purpose) – Jayant Merc (Increase in Authorised Capital), Valiant Comm (General).
Pattern Formation: On the Daily chart, after a breakout from the downward sloping channel we are observing a Doji candlestick pattern. This reflects indecisiveness prevailing at current level.
Future Outlook: In view of the above formation it is evident that markets a circumspect at current level. However, the hourly chart is still maintaining a higher top highs bottom formation. In coming trading session if nifty for first hour trades and sustain above 5145 level then it may test 5200 – 5220 level. On the downside 5060 – 5020 may act as support for the day. Since inflation data is going to be announced today we are likely to witness volatile session.
Data Alert From India –
• WPI inflation for May, to be detailed by commerce and industry ministry.
Data Alert From Overseas -
• Core Consumer Price Index m-o-m of US at 6.00 pm.
• Unemployment Claims of US at 6.00 pm.
Domestic Sector News –
• BANKING: Government may exempt state-owned banks from paying dividend as part of its move to set up a single holding company to meet their capital requirements.
• CAPITAL GOODS: Government will soon restrict import of used plant and machinery to safeguard the productivity and competitiveness of Indian manufacturers.
• COAL: Coal ministry has said it would review the output of coal companies on a monthly basis instead of once every two months.
• FERTILIZERS: Cabinet Committee on Economic Affairs will discuss the proposal to hike urea price by 10%. Domestic Stock Specific News -
• CARBORUNDUM UNIVERSAL: Has entered into a technical collaboration with UK-based Sheffield Refractories and Anderman Ceramics to manufacture and supply refractory solutions and aerospace components
• COAL INDIA: Company's arm, South Eastern Coalfields has suspended supply to Unit-2 of LANCO INFRATECH's Amarkantak power project in Chhattisgarh, on the ground that the company has not signed any long-term power purchase agreement with any state distribution company.
• HOTEL LEELAVENTURE: Lenders have approved company's 43-bln-rupee loan restructuring package.
• MOSER BAER INDIA: Is seeking restructuring of its foreign currency convertible bonds worth $150 mln, which are due for maturity on Jun 21.
International News -
• In May 2012, consumer prices in Germany were up 1.9% on May 2011.
• Moody's Investors Service cut Spain's debt rating by three notches to Baa3.
Securities in Ban For Trade Date 14-06-2012
ABAN, ABGship, Coreedutec, Suzlon, Jetairways.
Today’s Result –
Atharv Enter, Cigniti Tech .
EX- Dividend + Board Meeting -
EX- Dividend - Axis Bank, Bank of Maharashtra, BOB, Canara Bank, ING Vysya Bank, JSW energy, Nakoda, PNB, Punjab & Sind Bank, Torrent Power, United Bank, Videocon Inds. Board Meeting (Purpose) – Jayant Merc (Increase in Authorised Capital), Valiant Comm (General).
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.