Nifty witnessed the correction today from the levels of 5400 to 5420 & in the end closed near to the level of 5370. The next support for nifty future seems to be at the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. For the trading we recommend that traders should watch out the level of 5350, if it hold this level then one may go for long in nifty future for the targets of 5410, 5440 in near run. If it broken the level of 5350 & sustain below it for a while then one may go for sell in it with the slop loss around 5375 for the targets of 5305, 5260 in near run.
Friday, July 30, 2010
Sensex Trend
Sensex witnessed the correction today and closed in the end in red zone. Now the next short term support seems to be at the levels of 17350 to 17400. Closing below this support zone may slip it till the lower levels of 17100 to 17150 in near run. Technically we might expect the bounce in sensex from the support levels & may continue it's up trend.
Thursday, July 29, 2010
NSE Nifty Trend and Outlook
Nifty witnessed the upside consolidation phase today. Overall it was high volatile sessions due to futures and options (F&O) expiry. Technically nifty still holding it's up trend & maintaining the upward rising channel on long time frame charts. In the downside it is getting the strong short term support close to the level of 5350.
We recommend that traders may go for buy on dips in nifty future for the targets of 5450, 5500 in near run.
BSE Sensex Trend and Tips
Sensex was highly volatile for the whole day & in the end closed in the marginal green. The immediate support for it seems to be at the level of 17850. Closing below this support may drag it till the lower levels of 17350 to 17400 in near run.
Technically the overall trend of the sensex is looking bullish & after some positive consolidation in the market we might expect fresh up rally.
Wednesday, July 28, 2010
Nifty Tips for Intraday Trading
Nifty witnessed the profit booking on higher levels & in the end closed in the red zone. In the lower side it is having the crucial short term support around the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty future still looking bullish and after some consolidation phase in the market we might expect the one more up rally in it.
For intra day trading we recommend that traders may go for buy on dips in it until it close below 5350 for the targets of 5450, 5500 in near term.
Technical Recommendation on Sensex for July 29th
Sensex witnessed the correction from the higher levels & in the end of the day closed below the level of 18000. The next support for sensex seems to be at the level close to 17850. Closing below this support may slip it till the lower levels of 17350 to 17400 in near run.
Repo Rate and Reverse Repo rate hike by RBI and its affect on Indian Stock Market - Should investors buy, sell or hold
Recently RBI hiked repo rate and reverse repo rate from 5.5% to 5.75% (‘25 basis points’ is another way of saying ‘0.25%’) and the reverse repo rate from 4 to 4.5% and investors are thinking should they buy, sell or hold stocks. First of all let us understand why did RBI hiked repo and reverse repo rate and the obvious answer is to keep the inflation under control. As we all know that access of liquidity in the financial system causes inflation but the main reasons this time were:
1. Reduction in the repo and reverse repo rates by the RBI during the downturn in 2008 and 2009
2. Continuous inflow of large sums of FII money into the Indian stock markets
3. Larger inflow of remittances from NRIs into India (due to the economic downturn in Europe and USA)
A crash in stock market is unlikely. The hike in the repo and reverse repo rates were already ‘discounted’ – which means that it was within expected limits.
1. Reduction in the repo and reverse repo rates by the RBI during the downturn in 2008 and 2009
2. Continuous inflow of large sums of FII money into the Indian stock markets
3. Larger inflow of remittances from NRIs into India (due to the economic downturn in Europe and USA)
A crash in stock market is unlikely. The hike in the repo and reverse repo rates were already ‘discounted’ – which means that it was within expected limits.
Should investors buy, sell or hold
Answer to this question depends on individual invesotrs and traders. Here, I would like to say that it is not favourable for bull market, as it raises the cost of doing business and affects profitability.
My recommendation here for traders who want to buy is to select only fundamentally strong stocks with a track record of flourishing through several bull and bear phases. If you already have such stocks in your portfolio, hold with trailing stop-losses and ride the bull. Book profits in any second or third rung stocks that you may own.
There is no reason to sell in a panic as long as the Sensex trades above a rising 200 day EMA, we are in a bull market. Setting stop-losses will save portfolios from getting destroyed.
Tuesday, July 27, 2010
Share Market: technical View on Nifty, Tips for July 28th
Nifty witnessed the high volatile sessions today
& in the end closed with the marginal gain. The main thing which is
technically vital is that still it is holding the higher levels &
rising towards the higher level of 5500. In the downside two short term
support seems to be at the levels of 5400, 5350. Closing below the
support of 5350 may slip it till the lower levels of 5290 to 5300 in
near run. For intra day trading we have already recommended in our
previous reports that one may go for buy on dips in nifty future until
it close below 5350 for the targets of 5500, 5550 in near run.
Share market: Technical View Sensex, Tips for 28th July
Sensex may get the next short term support close to the level 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run. Overall sensex is looking to continue its up trend & might make more upmoves after some time consolidation.
Free Share Market Review and Tips July 27th, 2010
Indian Market:
30-share BSE Sensex closed at 18,020.05, down 110.93 points or 0.61% and the 50-share NSE Nifty fell 30.50 points or 0.56% to 5,418.60. Sensex shed 111 points on Monday, dragged by SBI, Maruti, Hero Honda, Reliance Industries,. It closed just above the 18000 level, after witnessing volatility throughout the session. Equity benchmarks looked weak in the last couple of hours today.
Oil & Natural Gas Corp., India's biggest energy explorer, plans to spend $5 billion to develop nine offshore natural gas discoveries that will boost the company's output by almost 60 percent in the next six years.
All eyes are on the Reserve Bank of India's (RBI's) July 27 meeting for the quarterly monetary policy review. As the country's inflation rate galloped to 10.55 per cent in June, up from 10.16 per cent in May, a hike in interest rates is being widely expected. So, expect EMIs to go up.
Global Cues:
Asian stocks rose on Monday, 26 July 2010, as most European banks passed stress tests, boosting optimism over the health of the global economy. The key benchmark indices in Hong Kong, Japan, South Korea, and Taiwan were up by between 0.28% to 1.2%.
U.S. stock-index futures fell, indicating the Standard & Poor's 500 Index will retreat for the first time in three days, before a government report that may show new-home sales remained near the lowest level on record.
Anglo Platinum Ltd., the world's largest producer of the metal, tempered its production plans for this year following the European debt crisis led by Greece and a weaker outlook for the global economic recovery.
News Summary: Share Market
- Maruti Suzuki, India's top carmaker, reported a surprise 20 percent fall in net profit in the quarter to June, hit by high raw material costs, an increase in royalty payments, and a weakening of the euro which hurt export revenues.
- India's Fortis Healthcare will be debt-free following the sale of its stake in Singapore healthcare firm Parkaway Holdings.
- Godrej Consumer Products reported a 67 percent rise in first quarter net profit on sales that rose 47 percent .
- Vodafone Group Plc may sell its minority stake of 4.39 percent in Bharti Airtel that is valued at 52 billion rupees ($1.1 billion) at current market price.
- The Indian rupee rose to its highest level in more than a week on Monday as dollar sales by some exporters in early trade helped, but traders will watch stocks and the dollar's moves versus majors for further cues.
- The Indian government has grudgingly accepted the central bank will likely lift interest rates on Tuesday, but is not convinced conditions warrant further tightening therea.
- The Indian government has grudgingly accepted the central bank will likely lift interest rates on Tuesday.
- The Prime Minister's Economic Advisory Panel, forecast 8.5% growth in GDP in the fiscal year that ends in March 2011 It expects 4.5% growth.
- The combination of growing confidence in Europe's economy and mounting evidence of a slowdown in the U.S. is driving euro bears into hiding.
- Gold, little changed in London today, may gain on speculation physical demand for the metal will increase.
- Oil declined for a second day in New York on speculation that the global recovery may stall and crimp fuel consumption.
- The yen rose against the dollar and the euro, reversing earlier losses, as a decline in stocks supported demand for a currency investors perceive as a refuge.
Monday, July 26, 2010
Techncial View on NSE NIFTY for 27th July
Nifty witnessed the range bound movement with negative biasness in the whole day of trading. In the downside it is having the crucial support near to the level of 5350. Closing below this support level may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty still holding the higher levels & getting good buying support on lower side. We recommend that traders may consider every dip as buying opportunity & should focus on buy on dips until it close below 5350 for the targets of 5500, 5550 in near run.
BSE SENSEX Tips for Today
Sensex is sustaining at higher levels of 18000 & the next resistance range for it seems to be at the levels of 18300 to 18350. Closing above this resistance range may lead it towards the levels of 18800 to 18900 in near run. Technical indicators are also showing some more strength in the market.
Read : Articles on Share Market
Friday, July 23, 2010
Today's Tip: Buy on Dips in Nifty Futures
Nifty today hold the higher levels & in the end closed on flat notes. Still technically we are looking well set to touch the mark of 5500, 5550 in near run. In the downside nifty has the vital support zone close to the levels of 5290 to 5300, until it made decisive closing below this support zone one should focus on long side in nifty future. Technical indicator like rsi is also showing some more strength in it.
We recommend that traders may go for buy on dips in nifty future for the targets of 5500, 5550.
We recommend that traders may go for buy on dips in nifty future for the targets of 5500, 5550.
BSE Sensex Today
Sensex made the closing above the higher levels of 18050 to 18100, now the next resistance for it seems to be at the range of 18300 to 18350. In the downside the immediate support for it seems to be at the levels of 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run.
Share Market Review and Tips
Indian Market:
Nifty closed at a new 30-month high on Thursday, tracking strength in global markets ahead of results of Stress Tests of 91 European banks on July 23. Finally it broke that 5350-5400 range, which had been for last seven and half sessions and managed to see a highest closing at 5442 since February 2008. Even the Sensex ended above 18000 level.
The fuel price index rose 14.27 percent in the year to July 10, while the food price index climbed 12.47 percent, government data released on Thursday.
Hotel chains Indian Hotels and EIH Ltd are expected to report a rise in April-June net profit, helped by higher occupancy levels on the back of increased domestic tourist.
Global Cues:
Most Asian stocks fell, dragging the MSCI Asia Pacific Index lower for the first time in three days, after Federal Reserve Chairman Ben S. Bernanke said the U.S. economic outlook remains “unusually uncertain.”
U.S. stock futures rallied, indicating the Standard & Poor’s 500 Index may rebound from yesterday’s late selloff, as EBay Inc. reported better-than- estimated earnings and Qualcomm Inc. raised its profit forecast. The Dow Jones industrial average fell 109.43, or 1.1%, to 10,120.53. The Standard & Poor's 500 index fell 13.89, or 1.3%, to 1,069.5.
Nokia Oyj, the world’s biggest maker of mobile phones, posted a steeper-than-expected 40 percent drop in second-quarter profit on competition from Apple Inc.’s iPhone and devices based on Google Inc.’s Android.
Thursday, July 22, 2010
Technical View on Nifty for 23rd, July
Nifty futures sky-rocketed after crossing it's main supply zone of 5416 today to make a intraday high of 5459 and has also give strong closing, the momentum may continue tomorrow too and the next major targets for nifty would be 5490,5540.
Free Share Market Review and Tips
Indian Market:
Nifty recouped previous day's losses and closed just one point short of the 5,400 level led by technology, metal, oil & gas, auto, cement and realty companies' shares.
State Bank of India, the nation's largest lender, started marketing five-year bonds denominated in U.S. dollars.
India may consider buying BP Plc's stake in a natural gas field in Vietnam after the British company battling the worst U.S. oil spill agreed to sell assets as part of a plan to raise funds to meet liabilities.
Global Cues:
Most Asian stock markets rose Wednesday following a modest rise on Wall Street on Tuesday. The key benchmark indices in Hong Kong, Indonesia, South Korea, Japan, Taiwan were up by 0.28% to 0.62%. But, Key benchmark indices in Singapore and China fell by between 0.04% to 0.14%.
US stocks rose for a second consecutive day on Tuesday, 20 July 2010, led higher by gains in shares of Goldman Sachs and strength in beaten-down homebuilders and raw materials companies. The Dow Jones Industrial Average rose 75.53 points, or 0.74% to 10,229.96.
The ADB also stuck to its China's forecast at 9.6% but marginally revised that for the Asian region to 7.9%. International Monetary Fund (IMF) has upgraded India's growth projection to as high as 9.5% from 8.8% estimated earlier.
Wednesday, July 21, 2010
Daily Technical View on Nifty
Nifty is trading in the horizontal trading range from last few trading sessions. In the downside it is getting good support close to the level of 5350. Closing below this support may further create some weakness in it. Still technically it is looking strong & one may expects the up trend to continue in the market.
For trading strategy we already recommend that one should buy nifty future at every dips until it close below 5300 for the targets of 5450, 5500.
Technical View on BSE - Sensex for July 21st, 2010
Sensex is getting the good intra day support close to the level of 17850. Closing below this support may drag it till the lower levels of 17300 to 17400. In the upside it is facing the stiff resistance close to the higher levels of 18000 to 18050. From few trading sessions it is making the horizontal trading ranges in charts.
Free Indian Share Market Review and Tips
Indian Market:
Nifty closed marginally lower on Tuesday, after witnessing consolidation for the sixth consecutive session around 5350-5400 level. Indices may be eyeing for earnings of heavyweights.
Software services firm NIIT Technologies Ltd said on Tuesday its quarterly net profit more than doubled although currency risks remained a challenge in coming quarters.
The Asian Development Bank urged the region's economies, including China, to allow greater currency strengthening to help cope with capital inflows and enable a more gradual pace of interest-rate increases that can support growth.
Global Cues:
Most Asian stocks rose on Tuesday as banks and resource companies got support from Wall Street gains overnight. The key benchmark indices in Hong Kong, China, Taiwan and Indonesia were up by 0.15% to 1.28%. But, the key benchmark indices in South Korea and Japan fell by between 0.27% to 1.2%.
US stocks rose on Monday, spurred by optimism ahead of earnings from key technology companies and after Dow component Boeing announced strong orders. The Dow Jones Industrial Average added 56.53 points, or 0.56% to 10,154.43. Dow and Nasdaq futures were down nearly 1% each.
British mobile email software developer Synchronica said it agreed to buy Canadian peer iseemedia for about 5.3 million pounds ($8.1 million) in an all-stock deal to expand in India and South-East Asia.
Top News : Indian Share Market
- Sunil HiTech said on Tuesday it got orders worth 1.73 billion rupees in the first quarter, including a construction job secured by a consortium for the Maharshtra Airport Development Corp.
- Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail arm of Vishal Retail Ltd after private equity investor Texas Pacific Group (TPG) takes charge of its wholesale division.
- Geodesic Ltd said on Tuesday it has signed a strategic deal with Zee Entertainment Enterprises;ZEE to launch real time entertainment applications for mobile and internet-enabled devices.
- The Indian rupee fell to its lowest level in a month and half on Tuesday, weighed down by defence-related import payments and demand for dollars from some companies.
- India may start using new wholesale price index (WPI) series from next month, Industry Secretary R.P. Singh said on Tuesday.
- Indian federal bond yields and swap rates inched up on Tuesday, tracking U.S. Treasury yields and as domestic cash levels remained tight.
- India is looking to rejig its subsidy mechanism, Cabinet Secretary K.M. Chandrasekhar told reporters on Tuesday, indicating the government's intent in slashing its fiscal deficit.
- China on Tuesday branded a group of U.S. lawmakers as protectionist for seeking to block an investment by the country's fourth-largest steel maker on national security grounds.
- The yen fell for a second day against the dollar on speculation the Bank of Japan will intervene to weaken the currency after it climbed to a seven- month high last week.
- Oil climbed to $77 on Tuesday as forecasts for a fourth consecutive weekly drop in U.S. crude inventories bolstered the positive influence of rising stock markets in most of Asia.
Tuesday, July 20, 2010
Techncial View on NSE-Nifty for tomorrow
Nifty witnessed the correction from the higher levels & in the end closed near to the support zone of 5350 to 5355. In the downside the next crucial support zone seems to be around the levels of 5290 to 5300. Decisive closing below this support zone may drag it till the lower levels of 5200 to 5205 in near term.
We recommend that until it close below 5300 one may go for buy on dips in it for the upside targets of 5450, 5500 in near term.
Technical View on BSE - Sensex today
Sensex witnessed the correction from the higher levels, in near run sensex may drag it till the lower levels of 17300 to 17400. In the upside the next key resistance zone seems to be around the higher levels of 18050 to 18150. Decisive closing above this resistance zone may further confirm up trend in the market.
Share Bazaar Review and Tips
Indian Market:
Nifty has continued its consolidation for fifth consecutive day and closed flat with negative bias on Monday. FMCG, realty, auto, private power and capital good.
Tata Steel Ltd., , began talks with lenders including Citigroup Inc. to refinance as much as 3.5 billion pounds ($5.4 billion) in loans for its U.K. unit.
Sun Pharmaceutical said a U.S. court had denied its motion to reverse a jury verdict of infringement against the Indian firm on Pfizer's Protonix acid reflux drug patent that the jury.
Global Cues:
Asian stock markets fell on Monday, 19 July 2010, in the wake of a Friday sell-off on Wall Street triggered by weak economic data. The key benchmark indices in Hong Kong, Taiwan, Indonesia and South Korea were down by 0.07% to 0.94%. But, China's Shanghai Composite rose 0.25%.
US stocks on Friday, 16 July 2010, driving down major indexes more than 2%. General Electric Co, Bank of America Corp and Citigroup Inc joined the list of major companies that beat Wall Street's expectations, but investors unloaded some shares of all three after the companies reported a drop in quarterly revenues. The Dow Jones Industrial Average dropped 261.41 points, or 2.52% to 10,097.90.
European borrowers are selling more of their bonds in dollars than at any time since the euro's record low in 2000 as issuers lose faith in the common currency.
Nifty has continued its consolidation for fifth consecutive day and closed flat with negative bias on Monday. FMCG, realty, auto, private power and capital good.
Tata Steel Ltd., , began talks with lenders including Citigroup Inc. to refinance as much as 3.5 billion pounds ($5.4 billion) in loans for its U.K. unit.
Sun Pharmaceutical said a U.S. court had denied its motion to reverse a jury verdict of infringement against the Indian firm on Pfizer's Protonix acid reflux drug patent that the jury.
Global Cues:
Asian stock markets fell on Monday, 19 July 2010, in the wake of a Friday sell-off on Wall Street triggered by weak economic data. The key benchmark indices in Hong Kong, Taiwan, Indonesia and South Korea were down by 0.07% to 0.94%. But, China's Shanghai Composite rose 0.25%.
US stocks on Friday, 16 July 2010, driving down major indexes more than 2%. General Electric Co, Bank of America Corp and Citigroup Inc joined the list of major companies that beat Wall Street's expectations, but investors unloaded some shares of all three after the companies reported a drop in quarterly revenues. The Dow Jones Industrial Average dropped 261.41 points, or 2.52% to 10,097.90.
European borrowers are selling more of their bonds in dollars than at any time since the euro's record low in 2000 as issuers lose faith in the common currency.
Monday, July 19, 2010
Technical View on Sensex
Sensex made the consolidation close to the level of 18000, in the downside the next support seems to be around the levels of 17300 to 17400. Closing below this support zone may drag it till the lower levels of 16900 to 17000 in near run.
One might expect the more consolidation close to sensex until it made decisive closing above 18150.
One might expect the more consolidation close to sensex until it made decisive closing above 18150.
Nifty Futures Trading Tips for July 20th, 2010
Nifty witnessed the range bound movement with negative biased & in the end closed in the red. In the downside it is getting good support close to the levels of 5350 to 5360. Closing below this support zone may slide it till the lower levels of 5300 to 5305 in short term. In the upside closing above 5450 to 5455 may lead it towards the higher level of 5500 in near run.
For trading we recommend buy on dips until it close below 5350 for the targets of 5450, 5500.
Saturday, July 17, 2010
Weekly Equity Market Review
Indian Market:
Nifty consolidated for the third consecutive day and closed with modest gains on Friday, led by technology, telecom, realty, select oil & gas and financial companies' shares.
The government on Thursday adopted a new symbol for the rupee that shall be used henceforth to represent the Indian currency in all written and electronic communication worldwide.
Mitsubishi Motors and India's Hindustan Motors both denied being in talks for the Japanese firm to pick up a stake in the Indian car maker on Friday.
Nifty consolidated for the third consecutive day and closed with modest gains on Friday, led by technology, telecom, realty, select oil & gas and financial companies' shares.
The government on Thursday adopted a new symbol for the rupee that shall be used henceforth to represent the Indian currency in all written and electronic communication worldwide.
Mitsubishi Motors and India's Hindustan Motors both denied being in talks for the Japanese firm to pick up a stake in the Indian car maker on Friday.
Global Cues:
Most Asian stocks fell on Friday after US manufacturing contracted and wholesale prices dropped, fueling concern an economic recovery may be faltering. Technology stocks declined after Google Inc. earnings missed estimates. The key benchmark indices in China, Indonesia, Taiwan, Japan and South Korea fell by between 0.05% to 1.6%.
U.S. stock-index futures swung between gains and losses as disappointing earnings from Google Inc. overshadowed Goldman Sachs Group Inc.'s settlement of a federal government fraud lawsuit.
General Electric Co. profit increased 14 percent from April through June, snapping seven quarters of declines, as its finance unit stabilized and the health-care division improved.
Friday, July 16, 2010
Technical View on Nifty for Next Week
Nifty is getting a strong support close to the levels of 5355 to 5370. Today overall, it was in the range bound movement in the market with high volatility. Nifty is still holding its up trend & may continue it. In the upside the next resistance seems to be around the levels of 5445 to 5455. Closing above this resistance may take up it till the higher level of 5500 in near term. We had already mentioned in our previous report that traders may go for long in nifty future with the Stop Loss around 5345 for the targets of 5450,5500. So for Monday session traders should focus on buy on dips in nifty future.
Daily Technical View on Sensex (for Monday, 19th July)
Sensex is making a slight bearish pattern on long time frame charts. In the upcoming trading sessions one may expect the range bound movement to continue with negative biasness. But if it do not break the support zone of 17300 to 17400 in few trading sessions & hold it these levels then it may make some upside moves. Sensex may face the next resistance close to the higher levels of 18100 to 18150. Closing above this resistance zone may further confirm more hike in it & may take it up till the higher levels of 18300 to 18350 in near term.
Share Market Review Today
Indian Market:
Nifty closed the session on a flat note, after trading in a narrow range of 5370-5399 for the whole day. PSU oil & gas, capital goods, telecom and realty companies' to close with negative bias.
Indian Oil Corp., the country's second-biggest refiner, plans to acquire oilfields in Africa as part of a $1 billion overseas investment plan, its chairman said.
Mid-cap Indian drug makers are likely to post healthy quarterly earnings on rising sales across geographies but a strong rupee against the dollar through two-third of April-June period might shave off margins for some.
Global Cues:
Asian stocks were mixed on Thursday after early fall triggered by concerns about the global economic recovery. The latest data showed US retail sales declined. The Federal Reserve cut its growth forecast for the US economy. The key benchmark indices in China,Singapore, Hong Kong, Taiwan rose by between 0.09% to 0.44%.
US stocks ended flat on Wednesday, 14 July 2010 after the Federal Reserve suggested additional measures may be needed to combat a weakening economy. Minutes of the Fed's June meeting showed officials are more concerned with the pace of economic recovery.
China's economic growth eased in the second quarter after the government succeeded in tempering credit expansion, investment spending and property speculation.
Nifty closed the session on a flat note, after trading in a narrow range of 5370-5399 for the whole day. PSU oil & gas, capital goods, telecom and realty companies' to close with negative bias.
Indian Oil Corp., the country's second-biggest refiner, plans to acquire oilfields in Africa as part of a $1 billion overseas investment plan, its chairman said.
Mid-cap Indian drug makers are likely to post healthy quarterly earnings on rising sales across geographies but a strong rupee against the dollar through two-third of April-June period might shave off margins for some.
Global Cues:
Asian stocks were mixed on Thursday after early fall triggered by concerns about the global economic recovery. The latest data showed US retail sales declined. The Federal Reserve cut its growth forecast for the US economy. The key benchmark indices in China,Singapore, Hong Kong, Taiwan rose by between 0.09% to 0.44%.
US stocks ended flat on Wednesday, 14 July 2010 after the Federal Reserve suggested additional measures may be needed to combat a weakening economy. Minutes of the Fed's June meeting showed officials are more concerned with the pace of economic recovery.
China's economic growth eased in the second quarter after the government succeeded in tempering credit expansion, investment spending and property speculation.
Thursday, July 15, 2010
BSE Sensex Recommendation for 16th July, 2010
Sensex is consolidating close to the higher levels of 17900 to 18000. In the downside the next crucial short term support seems to be around the levels of 17300 to 17400. Closing above this support zone may drag it till the lower levels of 16900 to 17000 in near term.
One may expect the upside consolidation to continue in the market for a while.
Read NSE Nifty Recommendation here.
NSE Nifty Recommendation with Stop Loss and Target
Nifty witnessed the overall volatile session after the flat opening in the morning. Overall it is holding the higher levels & maintaining the short term support of 5350 to 5355. Closing below this support zone may drag it till the lower levels of 5290 to 5300 in near term.
We still recommend that traders may go for long in nifty future with the stop loss around 5345 for the targets of 5450, 5500 in near term.
We still recommend that traders may go for long in nifty future with the stop loss around 5345 for the targets of 5450, 5500 in near term.
Equity Market Review
Indian Market:
Equity benchmarks snapped four days winning streak on the back of profit booking and closed below their psychological levels, as they looked overbought. The Nifty was very strong since the opening trade today following strong US and Asian cues but profit booking & weak European cues in last half an hour of trade dragged it lower.
Coal India Ltd., the world's largest producer, plans to invest in its first port terminal to handle imports to help meet increasing demand for the fuel, a company official said
India's government and two states plan to sell 20 percent of Manganese Ore (India) Ltd., the nation's largest producer of the ore, a government official with direct knowledge of the matter said.
Global Cues:
Asia's stock markets climbed on Wednesday, 14 July 2010, as better-than-expected results from US chip maker Intel injected life into Asian technology shares. The key benchmark indices in China, Indonesia, Singapore, Japan, Hong Kong, Taiwan and South Korea rose by between 0.67% to 2.83%.
Singapore's economy expanded at a 26% annual pace in the second quarter after a record surge the previous three months, spurring the nation's currency and adding to evidence of Asia's resilience to the European crisis.
Singapore's growth for the first quarter was revised to 45.9%, the fastest since records began in 1975, the trade ministry said today
Equity benchmarks snapped four days winning streak on the back of profit booking and closed below their psychological levels, as they looked overbought. The Nifty was very strong since the opening trade today following strong US and Asian cues but profit booking & weak European cues in last half an hour of trade dragged it lower.
Coal India Ltd., the world's largest producer, plans to invest in its first port terminal to handle imports to help meet increasing demand for the fuel, a company official said
India's government and two states plan to sell 20 percent of Manganese Ore (India) Ltd., the nation's largest producer of the ore, a government official with direct knowledge of the matter said.
Global Cues:
Asia's stock markets climbed on Wednesday, 14 July 2010, as better-than-expected results from US chip maker Intel injected life into Asian technology shares. The key benchmark indices in China, Indonesia, Singapore, Japan, Hong Kong, Taiwan and South Korea rose by between 0.67% to 2.83%.
Singapore's economy expanded at a 26% annual pace in the second quarter after a record surge the previous three months, spurring the nation's currency and adding to evidence of Asia's resilience to the European crisis.
Singapore's growth for the first quarter was revised to 45.9%, the fastest since records began in 1975, the trade ministry said today
Wednesday, July 14, 2010
Bank Nifty Futures Call
Bank nifty future is in the key juncture the next crucial resistance zone seems to be around the higher levels of 10025 to 10050. Closing above this resistance zone may take up it till the higher levels of 10300 to 10350 in quick time. So one may initiate long position in it above 10050 with the stop loss around 9990.
BSE Sensex Technical View (July 15, 2010)
Sensex today witnessed the correction from higher levels, as in the last prediction we mentioned in our previous report that it is making double top pattern on long time frame chart, & might witness some correction till the lower levels of 17300 to 17400. Closing below this support zone may drag it till the lower levels of 16900 to 17000.
Technical View on Nifty (July 15th, 2010)
Nifty witnessed the correction from the higher levels & in the end closed in the red. The next downside support for it seems to be around the levels of 5340 to 5350. Closing below this support zone may drag it till the lower levels of 5290 to 5300 in short run. We recommend that traders may go for sell in nifty future below 5350 for the target of 5300 for intra day trading.
Market Trend
Indian Market:
Nifty continued its uptrend for fourth consecutive session and managed to close above 5400 mark for the first time since February 5, 2008, led by heavyweight Reliance Industries (RIL). Financial, realty, metal, power and capital goods companies' shares also supported the markets to end in green.
India, the world's second-biggest vegetable oil consumer after China, may boost imports of palm and soybean oils in the three months to October to meet rising demand during festivals amid a drop in domestic inventories.
State Bank of India, the nation's largest lender, plans to meet investors in Europe, Asia and the U.S. from July 15 ahead of a potential dollar bond sale.
Global Cues:
Asian stocks made modest gains on Tuesday, as investors took heart from Alcoa's stronger-than-expected quarterly profit reported after the close of US trade on Monday, 12 July 2010. The key benchmark indices in Hong Kong, Singapore, Indonesia, Taiwan, Japan and South Korea rose by between 0.06% to 0.58%
U.S. stock-index futures rose, indicating the Standard & Poor's 500 Index may extend the longest winning streak in three months, after Alcoa Inc. reported earnings that topped analysts estimate.
European banks, rattled by investor uncertainty about their ability to withstand a sovereign-debt crisis, are poised to win a reprieve in Basel, Switzerland, this week as regulators from 27 countries shape new capital rules.
Tuesday, July 13, 2010
NSE Nifty Trend and Tips for Today
Nifty made the upside breakout today and made the closing above 5400. The up trend in nifty future may continue and the next key resistance seems to be around the higher level of 5500. In the upcoming trading sessions we might see some more upside in it & one should focus on buy on every decline in it. The short term support for nifty future seems to be around the levels of 5290 to 5300.
Indian Stock Market Review and Research Reports (July 13, 2010)
Indian Market:
Nifty rallied for third consecutive day and closed at 30-month high, led by buying interest in technology, financial, realty, metal and select capital goods companies' shares.
Cash conditions in the banking system will return to comfortable levels by the end of July, the chairman of State Bank of India the country's largest lender, said on Monday.
India's industrial output rose at its slowest pace in seven months in May, but the slower-than-forecast growth is not expected to stop the Reserve Bank of India (RBI) from raising interest rates later this month.
Global Cues:
Asian stocks kicked off a new week on Monday with modest gains, after Wall Street closed out its best week in a year on Friday, 9 July 2010. Japan's stocks wobbled after the government lost an upper house election at the weekend. The key benchmark indices in Hong Kong, Indonesia, China, Taiwan, Singapore, Japan and South Korea rose by between 0.07% to 0.41%.
Wall Street closed out its best week in a year on Friday 9 July 2010, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season. The Dow Jones Industrial Average was up 59.04 points
Britain's economy grew at the same pace as previously estimated in the first three months of this year, but the recession that preceded it was deeper than previously thought, the Office for National Statistics said on Monday.
Nifty rallied for third consecutive day and closed at 30-month high, led by buying interest in technology, financial, realty, metal and select capital goods companies' shares.
Cash conditions in the banking system will return to comfortable levels by the end of July, the chairman of State Bank of India the country's largest lender, said on Monday.
India's industrial output rose at its slowest pace in seven months in May, but the slower-than-forecast growth is not expected to stop the Reserve Bank of India (RBI) from raising interest rates later this month.
Global Cues:
Asian stocks kicked off a new week on Monday with modest gains, after Wall Street closed out its best week in a year on Friday, 9 July 2010. Japan's stocks wobbled after the government lost an upper house election at the weekend. The key benchmark indices in Hong Kong, Indonesia, China, Taiwan, Singapore, Japan and South Korea rose by between 0.07% to 0.41%.
Wall Street closed out its best week in a year on Friday 9 July 2010, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season. The Dow Jones Industrial Average was up 59.04 points
Britain's economy grew at the same pace as previously estimated in the first three months of this year, but the recession that preceded it was deeper than previously thought, the Office for National Statistics said on Monday.
Monday, July 12, 2010
Intraday Stock Tips : Nifty Tips (for 13th July, 2010)
Nifty future today lead towards the higher level of 5400, as we already mentioned in our earlier report that decisive closing above 5345 to 5350 may continue the upward trend for a while. Still nifty future did not break the 5400 level, but overall looking strong on charts. In the downside the short term floor for nifty future is seems to be around the levels of 5290 to 5300.
Traders should focus on buy on dips in nifty future until it close below 5300.
For Premium Tips on Intraday Trading Click Here.
Saturday, July 10, 2010
Bank Nifty Futures Call
Resistance Zone: It has first resistance close to the higher level of 9750 & after it could face the resistance close to the higher level of 9900.
Support Zone: It has first support close to the level of 9560 & after it could get the support close to the level of 9470.
Support Zone: It has first support close to the level of 9560 & after it could get the support close to the level of 9470.
News which affects Share Market
- Reliance Industries Ltd., owner of the world's largest refinery, raised $1 billion in loans from banks.
- Largest motorcycle PTC India Ltd., the nation's largest power trader, is in talks with investors including Hong Kong- based SAIF Partners Ltd. on selling a stake in unit PTC India Financial Services Ltd.
- Pipavav Shipyard Ltd the Golden Ocean Group Ltd along with its two associate companies has withdrawn the arbitration proceedings against the company.
- Titagarh Wagons said a commercial court in France has declared the company as 'winner' of a bid for acquisition of assets and business of a French wagon.
- The Indian rupee continued to trade stronger in the afternoon session on Friday, tracking gains in domestic shares and the dollar's losses against major currencies overseas, especially the euro.
- The IMF raised India's growth forecast for 2010 to 9.5%, stating that favourable financing conditions and robust corporate profits will accelerate economic expansion. The IMF expects India's economy to grow 8.5% in 2011.
- Indian federal bond yields edged higher on Friday afternoon on jitters ahead of the results of the 120 billion rupee bond sale expected later in the day.
- The U.S. pledged to monitor China's undervalued yuan in the next three months for signs that Asia's fastest-growing market is living up to its commitments to help rebalance the global economy.
- The yen traded near a two-week low against the euro as stocks rose on signs the global economy will weather Europe's debt crisis, damping demand for the relative safety of Japan's currency. The dollar may rise to 90 yen, the highest level since June 23.
- Crude oil advanced in New York, heading for its biggest weekly gain since May, as equities rose in Asia and Europe, bolstering optimism that fuel demand may increase.
Summarized in association with Indian Share Market Blog.
Weekend Market Review
Indian Market:
Nifty has maintained uptrend for second consecutive day, led by global cues and closed above 5350 on Friday, for the first time since June 21, 2010. Telecom, technology (barring TCS), financial, metal, realty and auto companies' shares helped the Sensex to rally 182 points.
Bharti Airtel India's leading mobile operator, rose more than 10 percent on Friday Credit Suisse upgraded Credit Suisse, which upgraded Bharti to "outperform" from "neutral", said tariffs had been stable in the last eight months and high cost for 3G mobile spectrum had crimped mobile operators' ability to go for further price war.
The Maharashtra Chamber of Housing Industry (MCHI) said it was considering filing a writ petition in Court, challenging the State Government's decision to levy service tax on properties under construction.
Most Asian stock markets rose on Friday after an encouraging US jobs report helped Wall Street extend gains. The key benchmark indices in Hong Kong, Indonesia, China, Taiwan, Singapore, Japan and South Korea rose by between 0.07% to 0.59%.
Wall Street rose for a third straight day on Thursday, 8 July 2010, as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales. The Dow Jones Industrial Average was up 120.71 points, or 1.20% at 10,138.99.
Japanese stocks rose, driving the Nikkei 225 Stock Average to its biggest weekly gain this year, after a drop in U.S. jobless claims stoked optimism in the global economy
Friday, July 9, 2010
NSE Nifty Technical View and Tips
Nifty today broken the short term resistance zone of 5350 to 5360 but could not be able to continue the upper rally and got consolidated around the higher levels. It was overall the positive trading session for market. Now in upcoming trading sessions the key resistance zone seems to be around 5395 to 5400. Closing above this resistance zone may further confirm the price hike in market. In the downside closing below 5300 to 5305 may drag it till the lower levels of 5230 to 5235 in near term.
We recommend that traders should watch out the 5400 level if it does not break then one may go for sell on rise for the targets of 5230,5200.
We recommend that traders should watch out the 5400 level if it does not break then one may go for sell on rise for the targets of 5230,5200.
Indian Equity Market Trend and Review
Indian Market:
Nifty traded above 5300 since the beginning of trade but profit booking in last half an hour of trade forced index to end below that level. It has been in range of 5200-5300 for last three weeks, as a part of consolidation.
India's car sales growth will probably slow by half this year as new emissions rules push up vehicle prices and interest rates increase.
SEBI issued a circular saying that the exposure margin would be higher of 5% or 1.5 times the standard deviation of the notional value of the gross open position in single stock futures and gross short open position in stock options in a particular underlying. The revised exposure margin requirement would be effective from 15 July 2010.
Global Cues:
Asian stocks surged on Thursday as US retail sales grew at the fastest pace in four years and as investors speculated European banks will pass stress tests. The key benchmark indices in China, Hong Kong, Indonesia, Taiwan, Singapore, Japan and South Korea rose by between 0.02% to 2.67%.
US stocks logged their best one-day gain in about six weeks on Wednesday, 7 July 2010 after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level. The Dow Jones Industrial Average rose 274.66 points, or 2.82% to 10,018.28. The Standard & Poor's 500 Index gained 32.21 points, or 3.13% to 1,060.27.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
Nifty traded above 5300 since the beginning of trade but profit booking in last half an hour of trade forced index to end below that level. It has been in range of 5200-5300 for last three weeks, as a part of consolidation.
India's car sales growth will probably slow by half this year as new emissions rules push up vehicle prices and interest rates increase.
SEBI issued a circular saying that the exposure margin would be higher of 5% or 1.5 times the standard deviation of the notional value of the gross open position in single stock futures and gross short open position in stock options in a particular underlying. The revised exposure margin requirement would be effective from 15 July 2010.
Global Cues:
Asian stocks surged on Thursday as US retail sales grew at the fastest pace in four years and as investors speculated European banks will pass stress tests. The key benchmark indices in China, Hong Kong, Indonesia, Taiwan, Singapore, Japan and South Korea rose by between 0.02% to 2.67%.
US stocks logged their best one-day gain in about six weeks on Wednesday, 7 July 2010 after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level. The Dow Jones Industrial Average rose 274.66 points, or 2.82% to 10,018.28. The Standard & Poor's 500 Index gained 32.21 points, or 3.13% to 1,060.27.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
Thursday, July 8, 2010
Intraday Trading Tips : Free Techncial View on NSE - Nifty for 9th July, 2010
Nifty holding the 5300 level & today it was overall the high side consolidation in nifty after the positive gap up opening. In the upside the short term resistance seems to be around the levels of 5345 to 5350. Closing above this resistance zone may lead towards the levels of 5380 to 5400 in near term. In the upcoming trading session we may expect the high volatility in market. For the trading one may go for sell on rise in it until it closes above 5350 for the target of 5200.
Indian Equity Market Trend and Review
Indian Market:
Nifty retreated nearly all its Tuesday's gains and closed below 5250 level, dragged by oil & gas, financial, metal, auto, realty and select infrastructure companies' shares. This pull down was mainly led by negative global cues.
Brazil, Russia, India and China -- the so-called BRIC group of emerging powers -- have gained clout over the past decade as their economies grew faster than those of developed countries.
The government on Tuesday took a tentative step towards opening up the organised retail sector to foreign companies but steered clear of suggesting a specific investment cap.
Global Cues:
Asian stocks fell for the first time in three days on Wednesday after American service industries expanded at a slower pace than expected, adding to concern the global recovery will weaken. The key benchmark indices in China, Hong Kong, Indonesia, Taiwan, Japan and South Korea fell by between 0.57% to 1.46%.
U.S. stock-index futures fell, indicating the Standard & Poor's 500 Index will resume last week's losses after yesterday's rebound, on lingering concern that the economic recovery may have peaked
Vodafone Group Plc, France Telecom SA and Bharti Airtel Ltd., which spent at least $18 billion on deals in Africa and the Middle East in the last two years, may face lower margins in the world's fastest-growing phone markets.
Nifty retreated nearly all its Tuesday's gains and closed below 5250 level, dragged by oil & gas, financial, metal, auto, realty and select infrastructure companies' shares. This pull down was mainly led by negative global cues.
Brazil, Russia, India and China -- the so-called BRIC group of emerging powers -- have gained clout over the past decade as their economies grew faster than those of developed countries.
The government on Tuesday took a tentative step towards opening up the organised retail sector to foreign companies but steered clear of suggesting a specific investment cap.
Global Cues:
Asian stocks fell for the first time in three days on Wednesday after American service industries expanded at a slower pace than expected, adding to concern the global recovery will weaken. The key benchmark indices in China, Hong Kong, Indonesia, Taiwan, Japan and South Korea fell by between 0.57% to 1.46%.
U.S. stock-index futures fell, indicating the Standard & Poor's 500 Index will resume last week's losses after yesterday's rebound, on lingering concern that the economic recovery may have peaked
Vodafone Group Plc, France Telecom SA and Bharti Airtel Ltd., which spent at least $18 billion on deals in Africa and the Middle East in the last two years, may face lower margins in the world's fastest-growing phone markets.
Wednesday, July 7, 2010
Nifty : Opening and Closing Levels of Today
Nifty witnessed the yet another correction from the higher levels, nifty facing strong resistance at 5310 and if trades below 5225 we may see some more correction in nifty in coming days, and on the upside any sustained move above 5320 may take it to 5350- 5380 levels.
BSE Sensex Today
Sensex after facing strong resistance at 17650 saw correction up to 17450 levels, now major support on the downside is 17400 below which we may see sensex going down to 17200 levels and on the upside move above 17650 we may see upward movement to 17800 levels.
Tuesday, July 6, 2010
Techncial View on NIFTY for Wednesday, July 07, 2010
Nifty witnessed the yet another strong session above 5260 saw rally up to 5310 levels. Now next crucial hurdle to watch out will be 5325, any sustained move above this level can take nifty future to 5350 - 5380 in short term. 5260 and 5225 will act as strong supports in short term.
Technical View on BSE - Sensex
Sensex also witnessed the yet another strong session above 17520 saw rally upto 17643 levels. Now next crucial hurdle to watch out will be 17680, any sustained move above this level can take sensex to 17720 - 17800 in short term. 17520 and 17400 will act as strong supports in short term .
Saturday, July 3, 2010
Indian Share Market Analysis and Review July 03, 2010
Indian Market:
Nifty closed marginally lower, after witnessing a range bound trade for the whole day. It was ranged at 5230-5270 and closed below 5250 level.
India, the world's second-largest cotton grower and exporter, will end curbs on overseas sales in the new crop year amid forecasts for a record harvest, said a government.
India's largest tractor maker by sales Mahindra & Mahindra reported an increase of 19.84% in auto sales to 27,562 units in June 2010 over June 2009. Despite the annual shutdown in the first week of June, the auto division had posted strong growth rates.
Global Cues:
Most Asian stocks rose on Thursday led by commodity producers, after Australian Prime Minister Julia Gillard reached an agreement with mining companies on a resources tax. The key benchmark indices in Taiwan, South Korea, Japan, Singapore and Indonesia rose by between 0.34% to 1.13%.
US stocks fell on Thursday as manufacturing and labor market data heightened fears of a double-dip recession before Friday's key employment report. The Dow Jones Industrial Average dropped 41.49 points, or 0.42% to 9,732.53.
China on Friday revised up 2009 gross domestic product growth to 9.1 percent from 8.7 percent on the back of higher output from industry and services.
Nifty closed marginally lower, after witnessing a range bound trade for the whole day. It was ranged at 5230-5270 and closed below 5250 level.
India, the world's second-largest cotton grower and exporter, will end curbs on overseas sales in the new crop year amid forecasts for a record harvest, said a government.
India's largest tractor maker by sales Mahindra & Mahindra reported an increase of 19.84% in auto sales to 27,562 units in June 2010 over June 2009. Despite the annual shutdown in the first week of June, the auto division had posted strong growth rates.
Global Cues:
Most Asian stocks rose on Thursday led by commodity producers, after Australian Prime Minister Julia Gillard reached an agreement with mining companies on a resources tax. The key benchmark indices in Taiwan, South Korea, Japan, Singapore and Indonesia rose by between 0.34% to 1.13%.
US stocks fell on Thursday as manufacturing and labor market data heightened fears of a double-dip recession before Friday's key employment report. The Dow Jones Industrial Average dropped 41.49 points, or 0.42% to 9,732.53.
China on Friday revised up 2009 gross domestic product growth to 9.1 percent from 8.7 percent on the back of higher output from industry and services.
Friday, July 2, 2010
Share Market Review
Indian Market:
30-share BSE Sensex closed at 17,509.33, down 191.57 points or 1.08% and the 50-share NSE Nifty declined 61.10 points or 1.15% to settle at 5,251.40. However, the broader indices remained quiet after looking at market breadth. About 1543 shares advanced while 1588 shares declined on BSE. Nearly 193 shares remained unchanged.
Hyundai Motor India Ltd, the country's second largest car manufacturer and the largest passenger car exporter, continued to be on a growth trajectory with the domestic sales growing by 18.9 percent in June 2010 over the same month last year. domestic sales in June 2010 was 27,366 as opposed to 23,016 in the same period in 2009.
Indian government signed 31 Product Sharing Contracts (PSCs) for 31 oil and gas blocks awarded to 23 companies in the eighth round of auction, under the New Exploration Licensing Policy (NELP) on Wednesday.
Global Cues:
Asian stocks fell on Thursday after Chinese manufacturing growth slowed and Moody's Investors Service placed Spain's credit rating on review for a possible downgrade, fueling concern over the strength of the global economy. The key benchmark indices in China, Taiwan, South Korea, Japan, Singapore and Indonesia and fell by between 0.12% to 1.94%.
US stocks staggered to the end of a dismal second quarter on Wednesday in another low volume session as investors found little reason to take on risk after conflicting economic data. The Dow Jones Industrial Average dropped 96.28 points, or 0.98% to 9,774.02.
Manufacturing growth in China, South Korea and Australia slowed in June, indicating the economic rebound has peaked in a region that has led the global recovery.
30-share BSE Sensex closed at 17,509.33, down 191.57 points or 1.08% and the 50-share NSE Nifty declined 61.10 points or 1.15% to settle at 5,251.40. However, the broader indices remained quiet after looking at market breadth. About 1543 shares advanced while 1588 shares declined on BSE. Nearly 193 shares remained unchanged.
Hyundai Motor India Ltd, the country's second largest car manufacturer and the largest passenger car exporter, continued to be on a growth trajectory with the domestic sales growing by 18.9 percent in June 2010 over the same month last year. domestic sales in June 2010 was 27,366 as opposed to 23,016 in the same period in 2009.
Indian government signed 31 Product Sharing Contracts (PSCs) for 31 oil and gas blocks awarded to 23 companies in the eighth round of auction, under the New Exploration Licensing Policy (NELP) on Wednesday.
Global Cues:
Asian stocks fell on Thursday after Chinese manufacturing growth slowed and Moody's Investors Service placed Spain's credit rating on review for a possible downgrade, fueling concern over the strength of the global economy. The key benchmark indices in China, Taiwan, South Korea, Japan, Singapore and Indonesia and fell by between 0.12% to 1.94%.
US stocks staggered to the end of a dismal second quarter on Wednesday in another low volume session as investors found little reason to take on risk after conflicting economic data. The Dow Jones Industrial Average dropped 96.28 points, or 0.98% to 9,774.02.
Manufacturing growth in China, South Korea and Australia slowed in June, indicating the economic rebound has peaked in a region that has led the global recovery.
Important Stock Market News
- Kesoram Industries Lt plans to invest 11.25 billion rupees on capex in FY11.
ICICI Bank , India's No. 2 lender, has set its base rate for loans at 7.5 percent effective Thursday, as part of a new rule to set minimum lending rates.
TVS Motor Co Ltd said on Thursday its June two-wheeler sales rose 36 percent from the same period a year earlier to 156,685 units.
India's Fortis healthcare along with its founders have made an open offer for all of Parkway Holdings for S$3.21 billion (US$2.3 billion).
Steel Strips Wheels June sales rise 31.7 pct.
The Indian rupee dropped to its lowest level in more than three weeks on Thursday, weighed down by falling stocks and the dollar's gains versus major currencies.
India's May exports rose for the seventh straight month in May, growing an annual 35 percent to $16.1 billion, the government said on Thursday.
Indian bond yields dropped on Thursday on hopes tight cash conditions will ease sooner than expected in the new quarter.
India's gem and jewellery exports are expected to rise atleast 5 percent year-on-year in FY11.
Manufacturing growth from China to the euro-region slowed in June, suggesting the global export-led recovery is losing strength.
Gold, little changed in London today, may extend its best quarterly advance since the end of 2007 as concern over the economic recovery spurs demand for bullion as a means of protecting wealth.
The euro and dollar's share of global foreign-exchange reserves both fell in the first quarter as central banks increased holdings of currencies from other economies, the International Monetary Fund said.
Thursday, July 1, 2010
Free Technical View and Trading Tips
Nifty witnessed the yet another highly volatile session and in the end close on red. Now in the downside the short term support zone seems to be around 5200 to 5220. Closing below this may drag it till the lower levels of 5100 to 5110 in near term. For short term trading one may go for sell in nifty future on every high until it close above 5360.
Indian Share Market Review and Tips
Indian Market:
Sensex recouped more than half of Tuesday's losses by gaining 167 points while the Nifty closed above 5300 level, led by positive global cues and short covering. Equity benchmarks were volatile with negative bias in first half of trade while second half of trade was the recovery period for the markets.
30-share BSE Sensex closed at 17,534.09, down 240.17 points or 1.35% and the 50-share NSE Nifty shed 77.35 points or 1.45% to settle at 5,256.15.
Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world's third-fastest-growing major economy.
Global Cues:
Asian stocks fell for a second day on Wednesday as a slump in US consumer confidence fueled concerns about the strength of the global economy. The key benchmark indices in Taiwan, China, Hong Kong, South Korea, Japan, Indonesia and Singapore fell by between 0.55% to 2.13%.
The International Monetary Fund is working to develop new lending instruments for economies hit by crises that are not of their own making, IMF Managing Director Dominique Strauss-Kahn said.
A World Trade Organization report on aid for European plane maker Airbus, expected to condemn the European Union for illegal subsidies, will be published later on Wednesday, trade sources said.
Sensex recouped more than half of Tuesday's losses by gaining 167 points while the Nifty closed above 5300 level, led by positive global cues and short covering. Equity benchmarks were volatile with negative bias in first half of trade while second half of trade was the recovery period for the markets.
30-share BSE Sensex closed at 17,534.09, down 240.17 points or 1.35% and the 50-share NSE Nifty shed 77.35 points or 1.45% to settle at 5,256.15.
Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world's third-fastest-growing major economy.
Global Cues:
Asian stocks fell for a second day on Wednesday as a slump in US consumer confidence fueled concerns about the strength of the global economy. The key benchmark indices in Taiwan, China, Hong Kong, South Korea, Japan, Indonesia and Singapore fell by between 0.55% to 2.13%.
The International Monetary Fund is working to develop new lending instruments for economies hit by crises that are not of their own making, IMF Managing Director Dominique Strauss-Kahn said.
A World Trade Organization report on aid for European plane maker Airbus, expected to condemn the European Union for illegal subsidies, will be published later on Wednesday, trade sources said.
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