Market Overview And Technical Outlook

Markets opened up with a gap and traded with extreme volatility to close in green. On the sectoral front Realty, IT and Bankex ended with decent gains whereas Power, Metal and PSU ended with marginal losses. The advance decline ratio was in favour of advancing counters (Advances = 886/ Declines=796). 



Future Outlook:.  In coming trading session 5620 – 5650  zone is immediate resistance for nifty spot . Any sustainable up move above the mentioned level would lead indices to test 5680 – 5700 levels. On the downside 5542 – 5500 spot levels may act as support for the day.  
                              
                                                           My view that the trend remains down and rallies are likely to attract selling pressure. Traders are advised to adopt cautious approach in this market.



Data Alert From India –
 Industrial output data for February, to be detailed by CSO.
 CPI combined rural, urban inflation data for March, detailed by CSO.

Data Alert From Overseas -
 German WPI m/m at 11:30 pm
 Europe Industrial Production m/m at 1:30 pm
 US Producer Price Index m/m at 6:00 pm
 US Retail Sales m/m at 6:00 pm
 Fed Chairman Bernanke Speaks at 10:00 pm

Domestic Stock Specific News –
 RBI Khan says initiating action against bks in money laundering case
 RBI Khan says likely to issue inflation-indexed bonds within a month
 SC orders Bharti not to add users via 3G roam pact; hearing on May 9
 2G court adjourns hearing in excess spectrum case to Apr 16
 Govt source says Hind Aeronautics IPO for 10% divest seen by Nov-Dec
 Kawasaki helping Bajaj Auto improve motorcycles, aiding vendors too
 Union source says M&M Igatpuri workers demand recall of their leader
 Jayant Agro says Arkema to buy around 25% stake in co arm Ihsedu
 Crompton Greaves, US co in technology licensing pact for LED pdts
 Tata Steel to merge Tata Metaliks, subsidiary with self
 Steel secy says POSCO may be able to start work on Odisha unit in a yr
 Sterlite Technologies gets orders worth 6.30 bln rupees

International News -
 US Unemployment Claims fell by 42K to 346K vs 388K. 

Macro Economic Calendar Date 

Indian IIP Data 12th April 2013 
Indian Inflation Data 15th April 2013 
Indian Monetary Policy 03rd May 2013 
Indian GDP Data 31st May 2013


 Open Interest of derivative segment increased to Rs 87915.46 Cr vs Rs 85171.18 Cr.
 FIIs net buyers in index futures to the amount of Rs 267.51 Cr and in index options net buyers to the amount of Rs 1179.43 Cr.
 Put-Call Ratio at 0.98 vs 0.88. (Bullish).



Future Levels for Bulls

Above........................5623.00 >>> 5648/5670


Future Levels for Bears
Below.................5570.00  >>> 5540/5520/5500