Morning Note 12 MAY 2011

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DATA MATRIX OF LAST SESSION FIRST LIGHT HEADINGS

Mcleod Russel’s subsidiary incorporates subsidiary in Dubai
INDEX Close %Chg
FIIs stood as net buyers in equities on May 11, 2011: SEBI
Sensex 18585 0.39 Indian Bank likely to raise $1 billion in FY12
Nifty 5565 0.43 GEI Industrial Systems enters into a technical tie-up with Innospin
Midcap 6907 0.55 Talwalkars Better Value opens new health club in Agra
Smallcap 8425 0.73 Power ministry releases Rs 4,029 crore for taking up new projects under R- APDRP
ABB reports stellar Q1 numbers
VALUE TRADED (Rs Crs) %Chg
BSE 2793 10.97 MARKET INSIGHT
NSE 9581 10.58 On Wednesday 11 May 2011, The domestic bourses snapping two days losing streak finally
F& O Total 76360 -22.87 showcased some optimism despite gyrating in a narrow band lacking any directional cues. It was the
Total Volume 88734 -19.47 fears of inflation which distressed the markets for yet another session. Also some investor's preferred
staying on the sidelines ahead of the election results on Friday. The election results in the state of West
NET INFLOWS (Rs Crs) %Chg
Bengal, Kerala, Tamil Nadu, Puducherry and Assam on Friday may set the tone for the market as it
FIIs 125 400.00 will determine the strength of the ruling party Congress and its allies. Investors were also wary ahead
DIIs 89 -32.06 of the release of the industrial output data for the month of March. As per the street expectation, the

FII OPEN INTEREST (Crs) %Chg Industrial output probably rose by 3.8 percent in March from a year earlier, helped by strong exports
and infrastructure output but weighed by a high base effect. However, unlike the last two trading
FII Index Futures 18850 -0.52
session, the benchmark did not slip into consolidation mood and managed to held on to their
FII Index Options 47449 1.29
momentum as the investors preferred buying stocks at these “oversold levels”, which gave the
FII Stock Futures 30299 0.58
required cushion to the ailing equity markets. The surge in the index heavyweights such as Reliance
FII Stock Options 545 11.47
Industries, HDFC, HDFC Bank and ICICI Bank, also aided the markets to climb higher.
World Indices %Chg The BSE Sensex gained 59.59 points or 0.32% and settled at 18,572.36. The index touched a high and
Dow Jones 12630 -1.02 a low of 18,622.44 and 18,454.93 respectively. 22 stocks advanced against 7 declining one's, while 1
Nasdaq 2845 -0.94 stock remained unchanged on the index (Provisional). The BSE Mid-cap was up 0.60% and Small-
FTSE 100 5976 -0.71 cap indices were up by 0.71% respectively. (Provisional) On the BSE Sectoral front, Realty up
1.34%, Auto up 1.00%, Metal up 0.98%, IT up 0.59% and Health Care up 0.59% were few gainers.On
Commodity %Chg
the flip side Capital Goods down 0.16% was the only loser.
Crude (US$/bl) 114.0 1.27
Gold (US$/oz) 1505 -1.12 ?India VIX, a gauge for market's short term expectation of volatility lost 2.29% at 21.24 from its
previous close of 21.74 on Tuesday. The S&P CNX Nifty gained 20.75 points or 0.37% to settle
Top 5 Movers Close Price %Chg at 5,562.00. The index touched high and low of 5,574.70 and 5,525.00, respectively. 34 stocks
RANBAXY 478 6.14 advanced against 16 declining ones on the index. (Provisional)
HEROHONDA 1775 3.56
?Most of the Asian equity indices finished the day's trade in the positive terrain on Wednesday on
DLF 227.55 2.52
the back of rising global commodity prices, but many of the indices were off their morning highs
RELINFRA 607.85 2.11
after inflation data in China indicated further tightening measures from Beijing. Chinese Shanghai
TATAMOTORS 1211 2.09
edged lower in the trade as the country's consumer price inflation consumer price inflation (CPI)
Top 5 Loser Close Price %Chg missed market forecasts for a decline to 5.2 percent. The headline CPI slowed to 5.3 percent in April
from a 32-month high of 5.4 percent in March. However, Japanese Nikkei gained about half a
NTPC 176 -2.52
percent as companies reported improving earnings and a weaker yen boosted exporters' prospects.
TATAPOWER 1223.3 -1.88
LT 1520 -1.42 ?Meanwhile, India and New Zealand have concluded very successful the two day talks on the
IDFC 133.05 -1.33 roadmap to propel forward trade and economic relationship between the two nations and
ONGC 300.25 -1.33 accelerate the process of Free Trade agreement (FTA) negotiations.

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Morning Note
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MARKET OUTLOOK- CAUTIOUSLY OPTIMISTIC

TODAY'S MARKET LEVELS

Index Support 2 Support 1 Previous Close Resistance 1 Resistance 2 Trend
SENSEX 18305 18415 18585 18715 18845 Rangebound
NIFTY 5460 5505 5565 5595 5645 Rangebound
QUANTITATIVE ANALYSIS: Both the benchmark indices registered modest gains. The 30 share index -Sensex-on Bombay Stock Exchange
(BSE) after touching a high of 18,622.44 witnessed some profit booking as cautious investors' preferred booking out profit at higher levels and
settled comfortably above 18500 mark and at sniffing distance of 18600 mark. Meanwhile, the 50 scrip Index-Nifty- on National Stock Exchange
(NSE) settled comfortably above the 5500 level. The broader indices too performed well and ended up in green with gains above 0.50% each. The
market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1605:1190 while 129 scrips remained unchanged.
FAVORED SCENARIO: Remember we have said that any break down below 5680 could open the flood gates and we might see 5555-5545 in a
short pan of time . Exactly to our expectation spot index manages to sustain around this level though we feel sentiments remain shaky in
upcoming sessions. Moreover trend line drawn adjoining two significant bottoms 5177 and 5232 , next level of support could be around 5430
level where possibility of bounce back couldn't be rule out. Hence clients are advised to remain cautious and use ‘Buy on Dip’ strategy on
any substantial correction.
VARIED SCENARIO: On the flip side such sharp drifts usually encountered by aggressive retracements . In that case 5760-5770 (200 DMA)
could be the key resistance zone where we might see some selling pressures. Any closing above this level with substantial volumes may
boost the traders sentiment however 5945-5960 could be the next resistance zone. HAPPY TRADING......

Index Support 2 Support 1 Previous Close Resistance 1 Resistance 2 Trend

BANK NIFTY 10715 10890 11039 11295 11360 Rangebound

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Morning Note
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INTRA DAY TECHNICAL RECOMMENDATIONS

Scrip CMP Buy Near Stop Loss Target 1 Target 2 Trend

NORTHGATE 12.25 12.15 12 12.3 12.6 Rangebound

Scrip CMP Buy Near Stop Loss Target 1 Target 2 Trend

SKS MICRO 328.5 320 310 330 340 Rangebound

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Morning Note
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INTRA DAY TECHNICAL RECOMMENDATIONS

Scrip CMP Buy Near Stop Loss Target 1 Target 2 Trend

FARMAX 4.85 4.75 4.5 5 5.25 Rangebound

Scrip CMP Sell Near Stop Loss Target 1 Target 2 Trend

ACROPETAL 30.8 32 33 31 30 Rangebound

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Morning Note
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Vikram Singh Research Analyst vikram_research@moneysukh.com

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-Entry/exit will be on the basis of price or time priority
-Use strict stop loss at 15% from your average acquisition price
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Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002 PMS Regn No. INP000002387
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