Nifty View

Markets opened on a positive note and traded with choppiness to close in green. On the sectoral front Realty, Capital Goods and Power ended with decent gains whereas Metal and Auto ended on the losing side. The advance decline ratio was in favour of advancing counters (Advances = 1874/ Declines=869). 


Pattern Formation: On the Daily chart, I'm observing a positive divergence on the Elliot Oscillator which suggests a bounce from current level.

 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 5721 levels then it may test 5750 – 5790 levels. On the downside, 5670 – 5640 spot  levels may act as support for the day.



Data Alert From India –
 N.A.

Data Alert From Overseas -
 Spanish Unemployment Change at 12:30 pm
 Spanish Manufacturing PMI at 12:45 pm
 Italian Manufacturing PMI at 1:15 pm
 Europe Unemployment Rate at 2:30 pm
 US Factory Orders m/m at 7:30 pm

Domestic Stock Specific News –
 SC rejects Novartis' plea seeking patent for cancer drug Glivec
 India Mar HSBC manufacturing PMI at 52.0, lowest in 16 months
 India Feb key core inds growth (-)2.5% vs 7.7% year ago
 L&T gets 56.89-bln-rupee EPC order for Rajasthan thermal power unit
 PSU cos' Apr 1-15 loss on subsidised fuel sale 3.49 bln rupees/day
 PSU cos' FY14 loss on subsidised fuel sale seen dn 34%
 Export body official says India exports seen up 15-20% in FY14
 SBI head says "significant reduction" in NPAs in Jan-Mar
 Jindal Steel to raise prices across pdt categories from Tue
 Ranbaxy resumes supply of generic Lipitor to US after recall in Nov
 ITD Cementation got orders worth 15 bln rupees in Jan-Mar
 KEC Int’l gets 9.14-bln-rupee orders from India, global mkts
 M&M Mar total automotive sales 51,904 units, up 11%
 Hyundai India hikes car prices by 575-2,830 rupees
 GMR Group concludes stake sale in GMR Energy Singapore
International News -
 US March ISM Manufacturing PMI drops to 51.3 from 54.2




 Open Interest of derivative segment increased to Rs 66758.61 Cr vs Rs 63701.41 Cr.
 FIIs net sellers in index future to the amount of Rs 417.56 Cr and in index options net buyers to the amount of Rs 469.05 Cr.
 Put-Call Ratio at 0.96 vs 0.84. (Bullish).


Nifty future 5660 vry gud support on dwnside