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Short Term Calls : Future Calls

Ttml Looks Strong Above 21.60, Tgt 22.50--24, With SL Of 20.

Sre Infra Seems Buzzling Counter Above 45.35, SL Of 43, Tgt 47--48--51--55 For Coming Week.

Zee Ltd, Showing Some Weakness In Counter If Falls Below 122, We May C Selling Pressure Below That Level For Tgt Of 120--118.50--116, SL 124.

Go Long In Ultratech Cement Above 1003, SL 970, Tgt 1015--1028--1065, For 1 Week.

Past Perfomances :

NCC Showing Weakness, But Trend Can Move Upside To 82--85.50--89.50--95 Or More CMP @ 79.65, SL 77 (C.B.) May Be Jack Pot Call. High Made 81.40, Close @ 80.15.

Positional Call Buy Bank Nifty @ 11085--11095, SL 10925, Tgt 11200--11450---11600 For 2-3 Days.High 11405, Close @ 11246.15. Revised SL 11150.

Tech Mah Looks Good Above 760, With SL 745, Tgt 768--775--782--795. In Coming Days. Not Triggered.

Volume Buzz :

Adanipower Can Buy With SL 102, Tgt 111--115--119--123, CMP @ 107.85., CLOSE @ 109. Call Triggered Our 2 Tgt Hit, High 115.10, Close @ 114.05.

Market Updates :

Markets lost significantly during the week, mainly due to Infosys' quarterly results, which were below expectations. Negative global cues also played their role in dampening the sentiments. The Sensex was down 1.6% while the Nifty lost 1.4% during the week. The CNX Midcap Index gained 0.7% while the BSE IT lost 5.6% over the week. The BSE Metal was down 2.3% and BSE OilGas gained 1.1% during the week.

Market snaps two-day gains :

Key benchmark indices edged lower, snapping gains in the preceding two trading sessions, on caution ahead of the weekend. The BSE Sensex was provisionally down 67.53 points or 0.36%, up close to 35 points from the day's low. Index heavyweight Reliance Industries (RIL) edged higher. The market breadth was negative. Realty stocks reversed initial gains. Auto stocks were mixed.

TCS rose after CEO and Managing Director N Chandrasekaran said at the time ofannouncing Q1 June 2011 results on Thursday, 14 July 2011, that TCS continues to see steady demand flow for its services. Metal stocks declined as metal prices fell on the London Metal Exchange on Thursday, 14 July 2011. Tyre stocks rose. Bank stocks were mixed. FMCG stocks declined.

The Sensex jumped more than 1000 points at the onset of the trading session, thanks to weird quotes in many Sensex stocks. The key benchmark indices slipped into the red to hit fresh intraday lows in morning trade. The market trimmed losses in mid-morning trade as Asian stocks rose in volatile trade. The market hovered in the red in early afternoon trade. Weakness continued in afternoon trade as European stocks declined in early trade on caution ahead of the release of European bank stress tests results. The market trimmed intraday losses in mid-afternoon trade as index heavyweight RIL rose. The market moved in a tight range in the negative terrain in late trade.

FMCG stocks fell on profit taking. Dabur India, Hindustan Unilever, ITC, United Spirits and Marico shed by between 0.31% to 2.89%.

Bank stocks were mixed. India's largest commercial bank by branch network State Bank of India (SBI) fell 0.04% to Rs 2465.30, off the day's high of Rs 2959.65. The stock hit 52 week low of Rs 1973.15 today. SBI recently raised base rate by 25 basis points (bps) from 9.25% per annum to 9.50% per annum. The bank has revised the Benchmark Prime Lending Rate upwards by 25 bps from 14% to 14.25%. The bank has also revised upwards deposit rates on some maturities by up to 100 basis points.

India's largest private sector bank by net profit ICICI Bank fell 0.81% to Rs 1060.0. The stock hit 52 week high of Rs 1282.65 today. ICICI Bank raised its base rate by 25 basis points to 9.5% per annum with effect from 4 July 2011. The private sector bank also raised its benchmark prime lending rate (BPLR) and its floating reference rate (FRR) for consumer loans, including home loans. BPLR and FRR are used for determining interest rates on loans and advances sanctioned up to 30 June 2010.

Auto shares were mixed after two-wheeler major Bajaj Auto's Q1 results on Thursday, 14 July 2011, lagged market expectations. Hero Honda Motors, declined 1.11%.

Tyre stocks bucked the weak market. CEAT, MRF and Apollo Tyres rose by between 1.57% to 3.31%.

HDFC Bank, Ashok Leyland and Crompton Greaves report Q1 results on 19 July 2011. Wipro, Dr Reddy's Lab and Exide Industries are set to announce Q1 results on 20 July 2011. Zee Entertainment Enterprises, JSW Energy, Biocon, Hero Honda, Hindustan Zinc and Kotak Mahindra Bank unveil Q1 results on 21 July 2011. Private sector bank Axis Bank reports Q1 results on 22 July 2011. Godrej Consumer Products reports Q1 earnings on 23 July 2011. Sterlite Industries and Rural Electrification Corporation will announce Q1 results on 25 July 2011. Car major Maruti Suzuki, steel major JSW Steel, decorative paints major Asian Paints and Shriram Transport Finance Company are set to unveil Q1 results on 26 July 2011.

The global outlook obviously remains negative and that will have a pulling impact on thedomestic index. The nifty July future added significant short position through out the weekand on Friday it added 1.13 lakh shares in open interest (OI) to take its total OI to 2.17 crore shares. Overall for the week the nifty July series future shed 8 lakh shares in OI as compared to the previous week. The nifty July future remained at premium throughout the week and on Friday it closed at a premium of 5.85 points at 5586.95. The average volume in the F&O segment during the week rose to Rs 117341.46 crore as compared to the average volume of Rs 78888.63 crore witnessed during the previous week. The domesticinflation still remains a major concern, while the global market mood is absolutely negative. Not much of upward surprise is expected from the ongoing earnings season. As a result the market is expected to trade with a downward bias.

July Month :    
Open : 5700.20 
High : 5751.60
Low : 5502.15
Close: 5586.95
Avg. : 5635.23

Yearly (2011) :       
Open : 6202.10       
High : 6209.90      
Low : 5175.10      
Close: 5586.95
Avg. : 5793.51

NIFTY FUTURE     

R5 : 5668
R4 : 5649
R3 : 5636
R2 : 5616
R1 : 5598

CMP: 5586.95

S1 : 5564
S2 : 5548
S3 : 5528
S4 : 5512
S5 : 5492

Investors will continue to watch the progress of the monsoon rains. Weather officials expect an improvement in the rainfall next week. Monsoon rains were above average in June 2011, but dropped to 3% below average after slowing in the first week of July. Rainfall between July 7 and July 13 was 19% below average, while it was 25% below average between June 30 and July 6. As per reports, the rainfall distribution so far has been good except for areas in the country's extreme northwest and southeast, mainly inGujarat's Saurashtra region and the Andhra Pradesh coast. While Gujarat is India's largest groundnut and cotton producer, Andhra Pradesh is a key rice-producing region.

The central state of Chhattisgarh and the Vidarbha region in Maharashtra are also rainfall-deficient, but the gap is expected to be bridged over the next few days. The grainbowl northern states of Punjab and Haryana, as well as parts of Uttar Pradesh, have all received above normal to normal rains, while eastern rice-growing states, including key producer West Bengal, have received good rains. Oilseed-growing regions in central India have also been lashed by abundant rains.

Rainfall in the month of July is considered crucial as sowing of a number of crops starts in June and good July rains determine the soil moisture and ensure proper development of the crops planted in June.

Note : Data From Capital Market.com.

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