Markets opened on a subdued note traded in a narrow band throughout the day with negative bias to close marginally in red. On the sectoral front IT and Capital goods ended on the losing side where as Consumer Durable and FMCG ended on the gainers side. The advance decline ratio was in favour of declining counters (Advances = 799/ Declines=906).
Pattern Formation: On the Daily chart, I'm observing an inside day narrow range body formation which indicates indecisiveness prevailing at current level.
Future Outlook: The current price action on the daily chart suggests weakness going forward. However the hourly chart are in an oversold zone hence a bounce up to 5587 – 5610 – 5640 cannot be ruled out. On the other hand if nifty trades below 5530 spot levels then 5500- 5470 could be tested.
Since the trend remains down traders are advised to adopt cautious approach in this market.
Data Alert From India –
ADB to release Asian Development Outlook 2013
Data Alert From Overseas -
German Trade Balance m/m at 11:30 pm
French Trade Balance at 12:15 pm
Domestic Stock Specific News –
Chidambaram says projects stalled on environ issues, lack of fuel linkages
RIL-BP, ONGC, GAIL, Petronet in race for 25% in Mundra LNG terminal
Source says states against compensating RPower on Sasan unit FX loss
India Mar power generation up 3.0% on yr; FY13 up 4.0%
BHEL FY13 provisional net profit 64.85 bln rupees
Union Bank of India aims to raise $500 mln via MTN
Gammon Infra MD says 6 projects stalled due to land, environment issues
V-Guard Ind FY13 net turnover over 13.5 bln rupees, up 40% on year
Jaiprakash Power starts commercial ops at 2nd unit at Bina plant
Ramco Systems inks 10 deals in aviation sector in FY13
Adani Enterprises starts coal production at Chhattisgarh mine
Bajaj Electricals FY13 provisional turnover 34.2 bln rupees, up 10%
JSW Steel FY13 crude steel production 8.52 mln tn, up 15% on year
TVS Motor in tech tie-up with BMW Motorrad for sub 500 cc bikes
SC to next hear Bharti’s plea on 3G roaming pact case Apr 11
International News -
German February Industrial Production at 0.5% vs -0.6%.
Open Interest of derivative segment increased to Rs 79559.14 Cr vs Rs 77824.28 Cr.
FIIs net sellers in index future to the amount of Rs 324.92 Cr and in index options net buyers to the amount of Rs 192.08 Cr.
Put-Call Ratio at 0.87 vs 0.90. (Bullish).
Future Levels for Bears
Well.......Today's Below.................5549.00 Nifty Future, may try to hit : 5523.00 and than...5503.00 too in Today's Trading Session..
More Downside will be there, but Only and Only Below...5500.00 Mark, Below that Level, NIFTY FUTURE, may try to hit, 5480.00 and than..5450.00 too in Days to come............
After All, It's Results Season : And, WE May See : Lots of UPs and Downs in Days to come.........
Future Levels for Bulls
Well.......Today's Above........................5578.00 , hold ur longs for a Target of 5630.00 and than...5670.00.......................Above, that Level... BULLS Likely to HIT, that Level, VERY SMOOTHLY........
When Market is Volatile : Play with Leader.................
Levels for RIL Last Close : 789.15
Well : Today's Above......793.00 Mark, Reliance Industries, Likely to RALLY More and Above, that Level, RIL May Try to hit, 805.00 and than........815 too in Today's Trading Session......(Levels for Bulls)
Well : As Far as BEARS are Concerned..........RIL , Likely to See : Huge, Downside, but Seems, Only and Only Below : 778.00 Mark, Below that Mark, Chart Showing, HUGE-DOWNARD Pattern, and below that Level, RIL May try to hit, 768.00 and than..763 too in Today's Trading Session...............
(Watch It, Carefully)
Pattern Formation: On the Daily chart, I'm observing an inside day narrow range body formation which indicates indecisiveness prevailing at current level.
Future Outlook: The current price action on the daily chart suggests weakness going forward. However the hourly chart are in an oversold zone hence a bounce up to 5587 – 5610 – 5640 cannot be ruled out. On the other hand if nifty trades below 5530 spot levels then 5500- 5470 could be tested.
Since the trend remains down traders are advised to adopt cautious approach in this market.
Data Alert From India –
ADB to release Asian Development Outlook 2013
Data Alert From Overseas -
German Trade Balance m/m at 11:30 pm
French Trade Balance at 12:15 pm
Domestic Stock Specific News –
Chidambaram says projects stalled on environ issues, lack of fuel linkages
RIL-BP, ONGC, GAIL, Petronet in race for 25% in Mundra LNG terminal
Source says states against compensating RPower on Sasan unit FX loss
India Mar power generation up 3.0% on yr; FY13 up 4.0%
BHEL FY13 provisional net profit 64.85 bln rupees
Union Bank of India aims to raise $500 mln via MTN
Gammon Infra MD says 6 projects stalled due to land, environment issues
V-Guard Ind FY13 net turnover over 13.5 bln rupees, up 40% on year
Jaiprakash Power starts commercial ops at 2nd unit at Bina plant
Ramco Systems inks 10 deals in aviation sector in FY13
Adani Enterprises starts coal production at Chhattisgarh mine
Bajaj Electricals FY13 provisional turnover 34.2 bln rupees, up 10%
JSW Steel FY13 crude steel production 8.52 mln tn, up 15% on year
TVS Motor in tech tie-up with BMW Motorrad for sub 500 cc bikes
SC to next hear Bharti’s plea on 3G roaming pact case Apr 11
International News -
German February Industrial Production at 0.5% vs -0.6%.
Open Interest of derivative segment increased to Rs 79559.14 Cr vs Rs 77824.28 Cr.
FIIs net sellers in index future to the amount of Rs 324.92 Cr and in index options net buyers to the amount of Rs 192.08 Cr.
Put-Call Ratio at 0.87 vs 0.90. (Bullish).
Future Levels for Bears
Well.......Today's Below.................5549.00 Nifty Future, may try to hit : 5523.00 and than...5503.00 too in Today's Trading Session..
More Downside will be there, but Only and Only Below...5500.00 Mark, Below that Level, NIFTY FUTURE, may try to hit, 5480.00 and than..5450.00 too in Days to come............
After All, It's Results Season : And, WE May See : Lots of UPs and Downs in Days to come.........
Future Levels for Bulls
Well.......Today's Above........................5578.00 , hold ur longs for a Target of 5630.00 and than...5670.00.......................Above, that Level... BULLS Likely to HIT, that Level, VERY SMOOTHLY........
When Market is Volatile : Play with Leader.................
Levels for RIL Last Close : 789.15
Well : Today's Above......793.00 Mark, Reliance Industries, Likely to RALLY More and Above, that Level, RIL May Try to hit, 805.00 and than........815 too in Today's Trading Session......(Levels for Bulls)
Well : As Far as BEARS are Concerned..........RIL , Likely to See : Huge, Downside, but Seems, Only and Only Below : 778.00 Mark, Below that Mark, Chart Showing, HUGE-DOWNARD Pattern, and below that Level, RIL May try to hit, 768.00 and than..763 too in Today's Trading Session...............
(Watch It, Carefully)
