Markets opened down with a gap but recovered from day’s low to close marginally in green. On the sectoral front Consumer Durable and FMCG ended with decent gains whereas Oil & Gas, Realty and Capital goods ended on the losing side. The advance decline ratio was in favour of declining counters (Advances = 1290/ Declines = 1459).
Future Outlook : The current price action on the daily chart suggests prices are heading towards the demand zone of 5500 – 5550 ( spot ) levels. Further, I'm observing that the curve of the 200-day is still rising inspite of fall in the prices. Hence I ve opinion that 5500- 5600 zone is crucial support zone and a bounce cannot be ruled out. In coming trading session if nifty trades and close above 5665 levels then we may witness a bounce up to the resistance levels of 5700 – 5750.
Traders are advised to adopt cautious approach towards the markets.
Data Alert From Overseas -
German Retail Sales m/m at 12:30 pm
German Unemployment Change at 2:25 pm
US Unemployment Claims at 6:00 pm
US Final GDP q/q at 6:00 pm
US Chicago PMI at 7:15 pm
Domestic Stock Specific News –
LIC might have bought 72% of 240.4 mln SAIL shares in offer for sale
Airports Authority says mull JV with pvt cos for ATF supply at airports
Cos not meeting public holding norm to face action, warns SEBI head
Civil aviation minister says 'no problem' with Air Asia-Tata JV
Govt says achieved 67% cable TV digitisation in 38 cities in phase 2
FIPB OKs 6 FDI proposals worth 7.33 bln rupees
NTPC to add 1,875 MW under FY14 MoU signed with government
TCS gets revenue management order from Southern Water
Sonata Software says US-based co to provide social networking platform
Bharti Airtel arm raises $500 mln via 10-year bonds at 5.044%
Tata Motors to shut Jamshedpur unit Mar 27-Apr 6 for maintenance
IRB Infra arm inks concession pact with NHAI for Karnataka project
Open Interest of derivative segment increased to Rs 105111.98 Cr vs Rs 101329.54 Cr.
FIIs net sellers in index future to the amount of Rs 385.09 Cr and in index options net sellers to the amount of Rs 1301.99 Cr.
Put-Call Ratio at 0.80 vs 0.96. (Bullish).
Future Outlook : The current price action on the daily chart suggests prices are heading towards the demand zone of 5500 – 5550 ( spot ) levels. Further, I'm observing that the curve of the 200-day is still rising inspite of fall in the prices. Hence I ve opinion that 5500- 5600 zone is crucial support zone and a bounce cannot be ruled out. In coming trading session if nifty trades and close above 5665 levels then we may witness a bounce up to the resistance levels of 5700 – 5750.
Traders are advised to adopt cautious approach towards the markets.
Data Alert From Overseas -
German Retail Sales m/m at 12:30 pm
German Unemployment Change at 2:25 pm
US Unemployment Claims at 6:00 pm
US Final GDP q/q at 6:00 pm
US Chicago PMI at 7:15 pm
Domestic Stock Specific News –
LIC might have bought 72% of 240.4 mln SAIL shares in offer for sale
Airports Authority says mull JV with pvt cos for ATF supply at airports
Cos not meeting public holding norm to face action, warns SEBI head
Civil aviation minister says 'no problem' with Air Asia-Tata JV
Govt says achieved 67% cable TV digitisation in 38 cities in phase 2
FIPB OKs 6 FDI proposals worth 7.33 bln rupees
NTPC to add 1,875 MW under FY14 MoU signed with government
TCS gets revenue management order from Southern Water
Sonata Software says US-based co to provide social networking platform
Bharti Airtel arm raises $500 mln via 10-year bonds at 5.044%
Tata Motors to shut Jamshedpur unit Mar 27-Apr 6 for maintenance
IRB Infra arm inks concession pact with NHAI for Karnataka project
Open Interest of derivative segment increased to Rs 105111.98 Cr vs Rs 101329.54 Cr.
FIIs net sellers in index future to the amount of Rs 385.09 Cr and in index options net sellers to the amount of Rs 1301.99 Cr.
Put-Call Ratio at 0.80 vs 0.96. (Bullish).
