Nifty Unlikely To See 6200 Again This Year !

Open Calls :

RISKY CALL BUY NIFTY FUTURE @ 5065--5075, SL 5035 ON CLOSING BASIS, TGT 5125--5148--5178--5208--5258 FOR 2-3 DAYS ! Close @ 5083.40 !

INVESTMENT BUY IRB @ 159--160.50, SL 155, TGT 164--168--175-178 FOR 1-2 DAYS ! Close @ 158.05 !

Market Updates : 

Sensex provisionally down 0.55% after roller coaster ride.

Nifty hopes rest on FOMC meet, else 4700 is next stop : Says Experts !

On the reversal of trend, Datta sees 5,170-5,225 as the first zone of resistance, followed by 5,325-5,350, which will be the second resistance zone. "If it pulls back to about 5,225, it will probably test 5,325. Also, If the Feds policy meet springs positive surprises, then the market could go to around 5,325-5,350. However, anything above that is quite unlikely," he adds

World stocks hit a 11-month low on Tuesday, entering bear market territory as it fell more than 20% since hitting a three-year high in May.

Sensex ends 132 pts down, FOMC meet holds key Today !

Europe: The European markets witnessed an extremely choppy session, partly because of visible cracks in the Eurozone leadership. Germany has officially opposed enlarging the European Financial Stability Facility or EFSF to aid struggling nations like Italy and Spain. The European Commission had sought a massive increase in the fund's lending capacity. The EFSF can currently lend USD 628 billion dollars.

Meanwhile, the ECB president Jean-Claude Trichet is playing down the central bank's move to buy Italian and Spanish bonds. Trichet said that the move does not represent a shift in strategy for the ECB, and that it was just a measure aimed at helping the transmission of monetary policy.

Marico leads gainers in 'A' group.

Mahindra & Mahindra, Apollo Tyres, Torrent Power and Financial Technologiesare among the other gainers.

Marico jumped 5.19% to Rs 162.25. The stock topped the gainers in the BSE's 'A' group. The company announced on 27 July 2011 that consolidated net profit rose 15.3% to Rs 85 crore on 33.6% rise in total income to Rs 1057.59 crore in Q1 June 2011 over Q1 June 2010.

Mahindra & Mahindra gained 4.29% to Rs 694.60. The stock was the second biggest gainer in 'A' group. M&M during market hours on Monday, 8 August 2011, reported 7.6% rise in net profit to Rs 604.90 crore on 28.8% increase in gross revenue & other income to Rs 7294.30 crore in Q1 June 2011 over Q1 June 2010. M&M said profit before tax (PBT)rose 12.9% to Rs 814.30 crore. M&M said there was a sharp increase in non-cash charge arising from amortization of ESOPs granted in earlier years, at Rs 26.50 crore in Q1 June 2011 from Rs 0.90 crore in Q1 June 2010. Excluding this charge, PBT growth was 16.5% in Q1 June 2011, M&M said.

M&M said despite a relentless increase in material costs the profit grew in the first quarter due to tight control on expenses and good volumes in both auto and tractor segments. Since prospects for agricultural and services sectors growth remain reasonably robust, the outlook for the company for the remaining part of the year remains positive but watchful, M&M said.

Apollo Tyres rose 4.2% to Rs 69.50. The stock was the third biggest gainer in 'A' group. The company will announce Q1 result on 11 August 2011.

Torrent Power gained 4.05% to Rs 225. The stock was fourth biggest gainer in 'A' group. The company announced on 29 July 2011 that consolidated net profit rose 14.8% to Rs 343.57 crore on 14.1% rise in total income to Rs 2098.15 crore in Q1 June 2011 over Q1 June 2010.

Financial Technologies rose 3.39% to Rs 781.95. The stock was fifth biggest gainer in 'A' group. The company will announce Q1 results tomorrow, 10 August 2011.

August (2011) : 
Open : 5544.45
High : 5557.10
Low : 4951.00
Close: 5083.40
Avg. : 5283.99

Yearly (2011) : 
Open : 6202.10
High : 6209.90
Low : 4951.00
Close: 5083.40
Avg. : 5611.60

NIFTY FUTURE 

R5 : 5208
R4 : 5178
R3 : 5140
R2 : 5125
R1 : 5095

CMP: 5083.40

S1 : 5072
S2 : 5058
S3 : 5032
S4 : 5012
S5 : 5000

Sensex, Nifty at 14-month closing lows as FIIs press heavy sales.

Data showing recent heavy selling by foreign institutional investors (FIIs) and growing fears of another recession in the US, the world's biggest economy, pushed Indian shares lower for the sixth day in a row. The barometer index BSE Sensex and the 50-unit S&P CNX Nifty reached 14-month closing lows. High intraday volatility was witnessed for the second day in a row. NSE's volatility index, India VIX, surged to 34.88% from its close of 28.78% on Monday, 8 August 2011.

The Nifty regained the psychological 5,000 level after falling below that mark at the onset of the trading session. The Sensex fell below the psychological 17,000 mark after regaining that level for a brief period in afternoon trade. The Sensex shed 132.27 points or 0.78%, up 425.91 points from the day's low and off 277.13 points from the day's high.

Foreign institutional investors (FIIs) sold shares worth net Rs 1109.70 crore on Monday, 8 August 2011, compared to an outflow of Rs 1609.60 crore on Friday, 5 August 2011, data released by the Securities & Exchange Board of India (Sebi) showed. FII outflow in August 2011 totaled Rs 4211.50 crore (till 8 August 2011). FIIs had bought shares worth a net Rs 8030.10 crore in July 2011. FII inflow in calendar 2011 totaled Rs 6489 crore (till 8 August 2011).

The Sensex has tumbled 2,013.38 points or 10.66% in eleven trading sessions from a recent high of 18,871.29 on 25 July 2011. The barometer index has lost 17.8% in calendar 2011.

India's third largest software services exporter Wipro fell 2.41% to Rs 350. The stock had hit a 52-week low of Rs 337.75 in intraday trade on Monday, 8 August 2011. Wipro's ADR plunged 8.26% to $10.11 on Monday.

India's second largest software services exporter Infosys was down 3.61% to Rs 2379, after falling to a 52-week low of Rs 2350 in intraday trade today, 9 August 2011. Infosys sees fears of another recession in the US. Infosys' ADR slumped 6.97% to $53.39 on Monday.

India's largest truck maker by sales Tata Motors lost 4.28% to Rs 796 after sliding to a 52-week low of Rs 785.65 in intraday trade today, 9 August 2011. Tata Motors' ADR tumbled 10.54% to $17.15 on Monday.

India's largest small car maker by sales Maruti Suzuki India rose 1.39%. Bike makers reversed initial decline. India's largest bike maker by sales Hero MotoCorp shed 0.05%. India's second largest bike maker by sales Bajaj Auto surged 1.95%.

India's largest commercial bank by branch network State Bank of India rose 0.82%. The bank reportedly expects to raise Rs 23000 crore through a rights issue to fund loan growth.

India's largest private sector bank by net profit HDFC Bank rose 1.51%, reversing intraday fall.

India's largest private sector bank by net profit ICICI Bank was down 1.47% to Rs 938.10 after falling to a 52-week low of Rs 912.65 in intraday trade today, 9 August 2011.

Tata Power and Rural Electrification Corporation unveil Q1 results on Wednesday, 10 August 2011. Tata Motors, Reliance Infrastructure, Reliance Power, Castrol India and Shipping Corporation of India unveil quarterly results on Thursday, 11 August 2011.

Tata Steel, Hindalco Industries, Coal India, National Aluminium Company, Jaiprakash Associates, Unitech and HPCL unveil Q1 results on Friday, 12 August 2011. State Bank of India, Aditya Birla Nuvo, Reliance Communications, Reliance Capital and Shipping Corporation of India unveil Q1 results on Saturday, 13 August 2011.

Standard & Poor's on Friday, 5 August 2011, downgraded the US long-term debt rating to AA+ from AAA with a negative outlook, meaning it can be lowered again within two years.

US index futures dropped in intense volatility in pre-market US trading on Tuesday, 9 August 2011. Futures on the Dow Jones Industrial Average were down 57 points at last check after surging more than 300 points earlier. Dow futures had slumped more than 200 points initially.

The Hong Kong Monetary Authority Tuesday said the city's markets have ample liquidity and are able to withstand market volatility amid a decline in the local currency and stocks.

China today, 9 August 2011, said its July consumer price index inflation hit 6.5%, accelerating from a 6.4% year-on-year rise in June.

US stocks tumbled on Tuesday, dragging the benchmark indices to their biggest slump since December 2008, amid concern that a downgrade of the nation's credit rating by Standard & Poor's may worsen an economic slowdown. The Dow Jones Industrial Average tanked 5.55% or 634.76 points at 10809.85. The Nasdaq Composite fell 6.9% or 174.72 points at 2357.69 and the Standard & Poor's 500 declined 6.66% or 79.92 points at 1119.46.

Note : Data From Capital Market.com.

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