Markets opened on a subdued note and momentum on the upside gradually intensified as the day progressed which led the indices to close in green. On the sectoral front Metal, Oil & Gas, Capital Goods and Health Care led the rally. The advance decline ratio was in favour of advancing counters (Advances = 1953/ Declines=827).
Pattern Formation: On the Daily chart, I'm observing that RSI is gaining momentum this suggests that the momentum on the upside is likely to continue.
Future Outlook: In view of the above formation it is evident that momentum on the upside is likely to continue. In coming trading session if nifty spot trades above 5754 levels then it may test 5800 - 5850 levels. On the downside, 5700 - 5660 levels may act as support for the day.
don't panic @ lower levels
Data Alert From India –
Services PMI and composite PMI for March, by HSBC.
Data Alert From Overseas -
Europe CPI Flash Estimate y/y at 2:30 pm
US ADP Non-Farm Employment Change at 5:45 pm
US ISM Non-Manufacturing PMI at 7:30 pm
US Crude Oil Inventories at 8:00 pm
Domestic Stock Specific News –
RComm in 12-bln-rupee fibre optic sharing pact with RIL arm
SC quashes 2010 HC order for closure of Sterlite's Tuticorin unit
NTPC signs 3 loan pacts worth 18.70 bln rupees to part fund capex
GAIL plans to acquire additional gas assets in US in near future
Sterlite Ind cuts provisional basic price on pdts by over 3% for Apr
NMDC's iron ore output down 1% at 27.0 mln tn in FY13
Strides Arcolab's 2.1 mln pledged shares released by HDFC on Thu
Infosys in innovation, gain-share pact with European co RWE Supply
Karnataka Bk eyeing 28.7% loan growth, 26.2% deposit growth in FY14
Escorts Mar total tractor sales 6,159 units vs 5,888 units yr ago
L&T Construction unit gets orders worth 37 bln rupees in March
ISMA says India produced 23.05 mln tn sugar in Oct-Mar, dn 1.7% YoY
International News -
Italian Manufacturing PMI falls to a seven month low of 44.5 from 45.8.
Europe Feb Unemployment Rate unchanged at 12%.
Macro Economic Calendar Date
Indian IIP Data 12th April 2013
Indian Inflation Data 15th April 2013
Indian GDP Data 31st May 2013
Indian Monetary Policy To be announced
Open Interest of derivative segment increased to Rs 70500.05 Cr vs Rs 66758.61 Cr.
FIIs net buyers in index future to the amount of Rs 137.93 Cr and in index options net buyers to the amount of Rs 1428.48 Cr.
Put-Call Ratio at 0.92 vs 0.96. (Bullish).
Buy Reliance ind in range of 780-790 keep 777 s/l
Levels for Bulls
5783.00 > 5799.....5820 ( future )
Levels for Bears
5750.00 > 5733.00 ......5718 ( future )
Watch out these CAREFULLY.........
Pattern Formation: On the Daily chart, I'm observing that RSI is gaining momentum this suggests that the momentum on the upside is likely to continue.
Future Outlook: In view of the above formation it is evident that momentum on the upside is likely to continue. In coming trading session if nifty spot trades above 5754 levels then it may test 5800 - 5850 levels. On the downside, 5700 - 5660 levels may act as support for the day.
don't panic @ lower levels
Data Alert From India –
Services PMI and composite PMI for March, by HSBC.
Data Alert From Overseas -
Europe CPI Flash Estimate y/y at 2:30 pm
US ADP Non-Farm Employment Change at 5:45 pm
US ISM Non-Manufacturing PMI at 7:30 pm
US Crude Oil Inventories at 8:00 pm
Domestic Stock Specific News –
RComm in 12-bln-rupee fibre optic sharing pact with RIL arm
SC quashes 2010 HC order for closure of Sterlite's Tuticorin unit
NTPC signs 3 loan pacts worth 18.70 bln rupees to part fund capex
GAIL plans to acquire additional gas assets in US in near future
Sterlite Ind cuts provisional basic price on pdts by over 3% for Apr
NMDC's iron ore output down 1% at 27.0 mln tn in FY13
Strides Arcolab's 2.1 mln pledged shares released by HDFC on Thu
Infosys in innovation, gain-share pact with European co RWE Supply
Karnataka Bk eyeing 28.7% loan growth, 26.2% deposit growth in FY14
Escorts Mar total tractor sales 6,159 units vs 5,888 units yr ago
L&T Construction unit gets orders worth 37 bln rupees in March
ISMA says India produced 23.05 mln tn sugar in Oct-Mar, dn 1.7% YoY
International News -
Italian Manufacturing PMI falls to a seven month low of 44.5 from 45.8.
Europe Feb Unemployment Rate unchanged at 12%.
Macro Economic Calendar Date
Indian IIP Data 12th April 2013
Indian Inflation Data 15th April 2013
Indian GDP Data 31st May 2013
Indian Monetary Policy To be announced
Open Interest of derivative segment increased to Rs 70500.05 Cr vs Rs 66758.61 Cr.
FIIs net buyers in index future to the amount of Rs 137.93 Cr and in index options net buyers to the amount of Rs 1428.48 Cr.
Put-Call Ratio at 0.92 vs 0.96. (Bullish).
Buy Reliance ind in range of 780-790 keep 777 s/l
Levels for Bulls
5783.00 > 5799.....5820 ( future )
Levels for Bears
5750.00 > 5733.00 ......5718 ( future )
Watch out these CAREFULLY.........
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