Nifty Trend for 06/03/2012

Markets had a gap down opening for the week and remained negatively biased for the whole session. When European markets opened then sentiments worsened further and nifty future slipped below 5300 to make intraday low of 5295. Now, for the coming sessions in this week, 5300 will act as crucial level as it has given breakout on lower levels on daily charts from the consolidation so formed last week. Now, 5260 is seen as support while 5380 will act as resistance.

TREND: SIDEWAYS

SUPPORT: 5260 & 5180 RESISTANCE: 5380 & 5450

Major Market News-

·        Sensex plunges 274 points; Realty, Metal drag.

·        Adani Enterprises inks pacts with NTPC for supply of imported coal.

·        Tata Power in JV with Exxaro Resources.

·        Suzlon arm bags order worth Rs 3.67 bn.

·        Indian private sector output expands at a slightly slower pace in Feb.

·         IRB Infra denies over bidding in Ahmedabad project

Nifty Trend for 01/Mar/2012

Markets had a gap up opening on mixed global cues but not sustain on higher levels. Opening of European markets in green also not support Indian market, Nifty continuously made new lows and got support around 5400 mark. Today 5400 play vital role for nifty, on intraday if it is maintain above 5450 then we expect some positive movements towards level of 5520 otherwise it may find next support around 5320 Below this bears are more active and take nifty towards 5220.

TREND: SIDEWAYS

SUPPORT: 5380 & 5320 RESISTANCE: 5500 & 5565

Major Market News-

·        Sensex gives up gains; L&T, HDFC Bank, ICICI Bank drag.

·        GDP grows 6.1% in Dec-qtr, slowest in almost 3 years.

·        Essar retreats as Credit Suisse cuts rating.

·        Muthoot Finance to raise Rs 5 bn via NCD issue.

·        ACC to set up new clinker facility with 2.79 MTPA capacities.

·        ONGC stake sale on Mar 1; may fetch about Rs 120 bn.

Equity Tips- 13-12-2011

Dismal IIP data, European weakness & weak rupee took indices towards the strong support zone of 4800 and market breadth was negative for whole session. 4750 is now seen as the crucial point for Nifty future and if it sustains below these levels then it can slip towards the recent lows of 4630. In this bearish rally, any up move in the index will find 4885 as its resistance. If it crosses 4900 mark then 4950 will be acting as hurdle to move on higher side.
TREND: Down
SUPPORT : 4720 & 4630 
RESISTANCE: 4885 & 4940

• Dismal IIP, weak Europe double blow for mkt;Sensex shed 343 points.
• Barring IT, all sectoral indices closed negative with metal being the worst among them.
• Industrial output contracts 5.1% in October.
• CBI chargesheets Essar, Loop Telecom in 2G.
• Emami plunges 6% after AMRI Hospital fire incident.
• Rupee hits new record low of 52.77 per dollar.