Monday, 10 June 2013

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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Sunday, 9 June 2013

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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Sunday, 2 June 2013

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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