Stock Tips-11/06/2013

Markets closed on a flat note hovering around the same consolidation zone of last week and weakened rupee also negated the market sentiments. Nifty future is finding strong support around 50% retracement of 5860. If it holds below this level then next major support is seen near 5770 in the coming sessions. While 38.2% retracement of 5950 will indicate some strength in markets above which 6000-6030 will act as resistance range.

TREND: SIDEWAYS
SUPPORT : 5850 & 5800
RESISTANCE: 5940 & 6000
Major Market News:

• BSE Sensex ends flat; rupee weak, realty drag.
• Nikkei marks best day since March 2011 on US jobs boost, GDP data.
• Yes Bank gets shareholder nod to raise USD 500 mn.
• NMDC signs MoU for mineral projects in Zimbabwe.
• JSW Steel plans to raise up to $700 million via bonds.

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Weekly Forex tips

Currency Weekly Report for 10/june/2013 – 14/june/2013

The Indian rupee has been the worst performing currency against the Asian basket in the last one month. It depreciated 5.5% against the US dollar in May and extended its underperformance in the month of June as well. The rupee breached 57 per dollar today and was just a few paise short of record lows of 57.32 which it hit in June 2012. While the global cues are all over the place, things back home lack clarity and are weighing on the rupee. The concerns on high Current Account Deficit and weak equities are impacting the currency.

Domestic Forex Updates:

• Indian rupee falls most in a week on heavy dollar demand.
• Rupee may plunge further to 57.80 driven by domestic, global factors.
• Yuan flat even as midpoint at new peak, market finds equilibrium.

USDINR

USDINR on weekly charts is exhibiting higher highs and higher lows since last six consecutive weeks. Immediate crucial mark seen is 57.5200 ahead surpassing which it will lead towards new highs near 58.0000. However, If some correction took place then on lower side 56.5000 is seen as strong support below which 55.5500 will act as next important support.

EURINR
EURINR after giving closing above 73.5500 last week continued its bull rally this week also and resisted near 76.0000 level. On continuation of this rally it may lead towards new highs. On any correction support is found in the range of 74.8500-74.4000.
Global Forex Updates:

• Dollar Strengthens as U.S. Jobs Data Back Fed Taper Speculation.
• Pound Surges Most in 3 Years on Signs U.K. Economy Strengthening.
• Canadian Dollar Has Biggest Gain Since 2011 on Surge in Jobs.

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Stock Tips-03/06/2013

Markets started the June series on a disappointing note on account of weak GDP data and immense selling pressure was seen for the whole session. Nifty future closed at crucial mark of 6000 and certain correction may be seen below this mark. If it holds below 5970 then next important support is seen around 5930. While, on other hand it needs to maintain above 6050 to gain strength and may lead towards resistance range of 6070-6090.

TREND: SIDEWAYS
SUPPORT  :  5960 & 5930
RESISTANCE  :  6050 & 6090
Major Market News:

• Sensex crashes 455 pts; Realty, oil & gas worst hit.
• GMR Infra turns to profit in Jan-Mar quarter.
• pto Circuits consolidated Q4 profit plunges 94%.
• Indian Hotels Q4 swings to loss in Jan-Mar quarter.
• RIL KG-D6 gas output drops to fresh low, below 15 mmscmd.

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Stock Tips-27/05/2013

Markets continued its losing streak but were able to recover in the second half of session and settled on a flat note below their strong support levels. Nifty future is finding its major support at 5930 on daily charts surpassing which further bearishness may drag it towards the next important support of 5860. While resistance is seen in the range of 6030-6060. Overall, selling pressure is expected to be seen on rallies.

TREND: SIDEWAYS
SUPPORT: 5930 & 5880
RESISTANCE: 6030 & 6080
Major Market News:

• Sensex ends 30 points higher; Tata Steel surges.
• MRPL swings to loss in Q4.
• Karur Vysya Bank Q4 profit up 8%.
• Fortis to divest entire stake in Australian arm for AUD 270 mn.
• Karnataka High Court allows UB Holdings sell shrs to Diageo.

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Stock Tips-20/05/2013

Benchmark Indices hold near to their crucial levels last week and is continuing the bull rally and settled on a strong note. Nifty future resisted at 6210 in the previous session while 6150 acted as strong support. On daily charts, higher highs are seen since last four sessions and if it holds above 6210 then only it may lead towards new highs while any correction will find support in the range of 6150-6110.
TREND: SIDEWAYS
SUPPORT  :  6150 & 6110                           
RESISTANCE:   6250 & 6290
Major Market News:
           

• Sensex ends slightly higher; power, capital goods jump.
• ITC Q4 net rises 19%; non-cigarette FMCG biz breaks even.
• Sun TV Q4 net profit up 12% at Rs 178cr.
• Ambuja Cements asked to deposit $21 mn fine by CCI.
• Motherson Sumi Q4 net profit rises marginally to Rs 195.80 cr.

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Stock Trend-16/05/2013

Market rallied to their highest point and it maintained its positive momentum from the beginning of the session and closed above its strong resistance marks. Nifty future gave breakout of its strong level of 6120 and settled above it around 6160. Now, it seems to test its next psychological level of 6210 surpassing which 6250 is seen as next resistance. On lower side, support range is seen around 6000-5960.

TREND: SIDEWAYS
SUPPORT : 5960 & 5920
RESISTANCE: 6050 & 6090
Major Market News:

• Sensex spurts 491 points to close above 20,200.
• Eurozone economy shrinks in Q1, marks longest recession.
• Tata Motors global sales fall 7% in Apr’13.
• Karnataka Bank Q4 profit slips 19%, asset quality improves.
• Bajaj Finance Q4 net spikes 52%, shares hit 52-wk high.

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Stock Tips-15/05/2013

Benchmark Indices settled on a flat note despite of favored WPI Inflation nos. and traded around their support range. Nifty future if continues to trade around this support range of 6000-5980 then we can expect further correction towards the deeper support of 5920. On the other hand, to again gain strength it needs to close above 6050 from where it may lead towards the near term resistance of 6100.
TREND: SIDEWAYS
SUPPORT : 5960 & 5920
RESISTANCE: 6050 & 6090
Major Market News:

• Sensex continues to trade higher; GAIL, ONGC rise.
• Dr Reddy’s consolidated Q4 profit jumps 66.6%.
•  United Bank Q4 profit plunges 79.1% on higher provisioning.
•  RInfra consolidated Q4 profit surges 76.2%.
• Muthoot Finance Q4 profit falls 6.4%.
• Aptech Q4 profit jumps 86.2%.

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