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BEARS STAND STRONG AT 6000 LEVEL!!
WEEK WRAP
Indian equity benchmarks shattered after the IT bellwether Infosys' disappointing earnings per share guidance for FY12 and spike up in inflation numbers on
Friday. Unwinding pressure and build up of shorts halted the Wednesday's surprised rally by erasing more than 75% of gains on the Nifty in today's trade.
Indian equity benchmarks shattered after the IT bellwether Infosys' disappointing earnings per share guidance for FY12 and spike up in inflation numbers on
Friday. Unwinding pressure and build up of shorts halted the Wednesday's surprised rally by erasing more than 75% of gains on the Nifty in today's trade.
In smallcap space, Uflex, Timken, C Mahendra Exports, Gemini Comm and Balaji Telefilm rallied 10-13%. However, Prraneta Inds, Banco Products, Atlanta, Infinite
Computer and Kanani Industries lost 6-11%.
Hong Kong's Phoenix TV, citing an unnamed source, reported higher-than-expected increases in Chinese retail sales and industrial output, but also said inflation
in the world's second biggest economy had accelerated.
Singapore's central bank also allowed an immediate rise in the value of its currency to help tackle inflation, which it said would likely stay elevated. The
Singapore dollar -- the world's 12th most
US MARKET
Stocks that outperform in a weak economy helped the Dow and S&P 500 eke out gains on Thursday as concerns about faltering growth and inflation prompted
investors to seek out less volatile names.
“GDP forecasts are continuing to fall, so (bets on defensives) are a safety trade," said Peter Boockvar, equity strategist at Miller Tabak & Co in New York.
The core U.S. Producer Price Index rose faster than expected in March as fuel prices rose strongly, adding to concerns about inflation
Advancing stocks outnumbered declining ones on the NYSE by 1,600 to 1,358, while on the Nasdaq, 1,455 stocks rose and 1,121 fell.
The 10-year bond yield raised 7 basis points from early levels to 8 percent after the data, while the 1-year swap rate climbed 8 basis points to 7.62 percent. The
5-year swap rate moved up 11 basis points to 8.21 percent.
India, Iran seeking to settle oil payments in non-euro currencies: India and Iran are talking to non-euro countries and territories to settle payments for Iranian oil
imports to the Asian nation, a senior government official told media on Thursday.
SECTORIAL INDICES
Indices Open High Low Close
GAINERS LOSERS
Scrip GAINERS
Current Close Change Chg % Scrip Current Close Change Chg %
Kanoria Chemical 41.20 34.30 20.12 Alembic Ltd. 70.40 22.25 68.39
IVP Limited 42.90 51.50 20.05 Kwality Dairy 147.25 120.50 18.17
GMR Ferro Alloys 110.45 127.55 15.48 Lords Chemicals 205 172.30 15.95
Thangamayil Jeweller 158.65 180.15 13.55 Asahi Infrastructure 12.99 11.03 15.09
15Apr--2011 - - -
TECHNICALS
Properties Values
Support 1 5750
Support 2 5695
Resistance 1 5925
Resistance 2 6000
The Nifty futures closed and settled finally at 5825, down by 113.10 points or 1.90 %. It looking bearish in the coming trading
session if it manages to trade below the support level of 5750 else above resistance level of 5925 it would be in an upward
trend.
TECHNICALS
Properties Values
Support 1 11530
Support 2 11335
Resistance 1 12050
Resistance 2 12480
Figure: Bank Nifty Weekly
Bank Nifty Futures shut stop at 11770 down by -133.10 points or -1.90%. It looking bearish in the coming trading session if it
manages to trade below the support level of 11530 else above resistance level of 12050 it would be in an upward trend.
DEWAN HOUSING FINANCE IS IN CONSOLIDATION PHASE FROM LAST FEW TRADING SESSION. .IF IT MANAGES TO SUSTAIN
ABOVE 281 IT WILL TAKE UP MOVE .WE RECOMMEND TO BUY DEWAN HOUSING FINANCE IN CASH ABOVE 281 TARGET 291,298
WITH STOP LOSS OF 269.
Price `277
Change `2.35
Volume 200659
52 Week High 348.50
% From High -20 %
Day High 279.35
EPS 23.77
KEY STATISTICS
Primary Factors
Almost 35% increase in Q o Q Earnings.
Sources: Sihl.in
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