Technical Outlook for 5th June 2013

Nifty (Spot): 5919.45 Analysis:

Nifty ended with a bearish shooting star just at crucial neck line support placed at 5920. We have repeatedly pointed out this probable movement which failed to hold its early morning gain till 5981. We still hold our stand and expect Nifty to touch down 4850-4860 levels in coming sessions. So recommend every trader to stay bearish

Choppiness Will Continue To Trouble The Day Traders. - Religare Securities Ltd


In today’s trade, Nifty opened in green and tested 5980+ level in first hour of the session but failed to hold around that level on the back of gradual selling pressure across the board. By the end, it not only retraced the morning gains but also slipped below the yesterday’s low confirming the bearish bias in control. In line with closing i

Further Ddecline Likely Till 5855 - 5810 Range - GEPL Capital Ltd

The market closes in red territory. The Sensex ends the day at 19545.78 down 64.70 points while the Nifty slips 19.85 points to close at 5919.45 .Tata Motors and SBI are the top losers in the Sensex. Dr Reddy's Labs, Cipla, Wipro, L&T and M&M are key gainers. RBI has tightened norms for gold import by nominated agencies. The central bank has said that all letters of credit for go

Expect Selling Pressure To Continue at Higher Levels - Nirmal Bang Ltd.

Market Review:

Indian equity continued Friday’s negative momentum today. The markets ended down around 0.80% today lead by the Oil & Gas stocks. The overall HSBC Manufacturing Purchasing Managers' Index (PMI) decreased to 50.1 in May from 51.0 in April. It was the third straight monthly fall in PMI. The 30-share benchmark index, Sensex down -149.8 po

We might see rebound or sideways move in index but the overall bias would remain negative


In continuation to last trading session, Nifty opened on flat note and resumed the declining bias in early trade which dragged index below 5940 level as the day progressed. It tried to trim losses in last hour of the session but failed to cross above 5950 mark & ended down by close to one percent. On same line, market breadth remained under pressure

Technical Outlook for 4th June 2013

Nifty (Spot): 5939.30 Analysis:

Nifty ended with a loss of 46 points on the board with a bearish marubozu candle. It exactly touched our 5920 as we predicted in our last post and, reverted back from day’s low of 5916. Previously, we had discussed about an on-going “bearish Head Shoulder Pattern” formation so, needless to say we are still very muc

Nifty May Further Correct Till 5855 - 5810 - GEPL Capital Ltd

Equity benchmarks extended losses amid weak European cues, as investors preferred taking more profits out. From the last month, it has been seen that whenever the BSE Sensex tried to hold the 20000-level it has always seen profit booking. The Sensex slipped another 150 points, to close at 19610.48, after shedding 455 points in previous session. The Nifty lost 46.65 points, to end below 5950

Sector In Focus Information Technology (IT) - GEPL Capital Ltd

Q4FY13 results reflects some issues

In Q4FY13, the BFSI vertical showed muted performance (vs. strong performance last quarter) at the same time Energy &
Utilities and Healthcare led the growth. Geographically, European markets continued its higher growth rate as compared to the US market, which expanded at a moderate rate. EBITDA margins were under pr

Nifty Has an Immediate Support at 5,940 - Nirmal Bang Ltd.

Market Review:

Indian equity ended down more than 2% on Friday. The expectation for the RBI rate cut decrease sharply as the fourth quarter GDP data which is declared today was in?line with expectations at 4.8 per cent. With this the GDP growth for the FY 2012?13 is pegged at 5 per cent which is the lowest in the last decade. The 30-share benchmark index, Sensex d

Technical Outlook for 3rd June 2013

Nifty (Spot): 5985.95 Analysis:

It is a splendid 138 points smash down in a single day to end the week with a perfect “long legged bearish shooting star”. If you remember, on 27th May we discussed about the bearish engulfing pattern seen on weekly chart and, also mentioned sudden bear attack could spoil the party even if this pull back gets stretched t

Nifty Likely To Hold 5920. - Microsec Ltd

After starting with a positive session, the NSE-50 share  index, benchmark Nifty continuously rose to make a weekly high of 6133.75 on  Thursday and then it fell to make a low of 5975.55 on Friday. At last it ended the week with a net gain of 0.04%. On the sectoral front, some buy  interest was witnessed FMCG, Power, Consumer durable, Auto and Oil & gas stocks. However, se

Breakdown of 5940 Level will Trigger Fresh Downside Momentum. - Religare Securities Ltd


After the three consecutive range bound sessions, Nifty witnessed gap down opening and fizzled below the lower band of the consolidation range i.e. 6070 level in first hour of the session. Though it tried to regain that level but failed miserably on the back of selling pressure across the board and subsequently slipped below the psychological mark of 60

Nifty May Further Correct Till 5850 - 5800 - GEPL Capital Ltd.

Markets ended a weak session of trade in the red on the back of selling pressure witnessed in rate-sensitive sectors. Adding to the pessimism was the statement by the Reserve Bank of India's governor on Thursday after he hinted at upside risks to retail inflation. The Sensex crashed in the last hour of trade and ended down 455 points at 19,760. Nifty slumped 138 points at 5,986.The gover

Nifty has an Immediate Support at 6,050 By Nirmal Bang Ltd

Market Review:

Indian equity settled higher on Thursday. The market remained lackluster for most part of the day due to F&O expiry. However, the recovery in the last hour of trade helped the markets to post modest gain. Auto, FMCG and power stocks saw buying interest, Realty and metal stocks fell sharply.

At the close, the benchmark 30-share index,

Technical Outlook for 31st May 2013

Nifty (Spot): 6124.05 Analysis:

After a choppy trading for the whole session, late session recovery led the Index to close at high. And finally shut shop at 6124.05 just below 6150. We still believe till the time it is trading below 6150, sudden bear attack could spoil the party. The high of last three daily candles suggests tough fight from Nifty bears below 6150

Expiration Of F&O Contract Also Failed To Provide The Needed Direction - Religare


For third consecutive session, Nifty traded range bound within 6070-6133 level and closed marginally in green in the end. Despite positive close in benchmark index, market breadth slipped on declining side which clearly indicates lack of buying interest in cash segment. On sectoral front, indices registered mixed closing ;Auto and FMCG attained top slot

Nifty still under the resistance of 6145 - GEPL Capital Ltd

Today's May F&O expiry was marked by a choppy session, like most expiries are. Markets danced several times on both sides of the line to finally end the day marginally in the green. Tomorrow will be the last day of announcement of March-end quarterly results and it is now clear that the results have been in-line or better than estimates for most companies. There are no doubt exceptio

Nifty has an Immediate Support at 6,050 - Nirmal Bang Ltd

Market Review:

Indian equities wrapped the volatile session on a flat note. Index heavyweight Reliance Industries (RIL) edged higher in volatile trade. Another index heavyweight ITC extended intraday gains in late trade. At the close, the Sensex was trading down 13.18 points or -0.07% at 20,147.6 meanwhile, the Nifty fell by 6.95 points or -0.11% at 6,111.25.

Technical Outlook for 30th May 2013

Nifty (Spot): 6104.30 Analysis:

Nifty ended on flat mode with a hanging man candle. Candle pattern suggest it is facing tough resistance on rise around 6150 levels. But, we should not forget last week we ended up with a Bearish engulfing pattern on weekly chart. So after a bounce back this could get stretched even till 6150, is ultimately going to frizzle out. So

We continue to see choppy move across the board - Religare


In line with expectation, Nifty traded range bound roughly within forty odd points (i.e. 6070-6110 level) and concluded almost flat in the end. On the other hand, market breadth remained under pressure on the back of selling pressure in cash segment and slipped on declining side. Due to erratic move across the board, sectoral indices closed mixed with H

The level of 6145 continues to serve as a stiff resistance - GEPL Capital Ltd

The BSE Sensex fell 0.07% to 20,147.64  while the 50-share Nifty ended down 0.11 percent to 6,104.3., snapping a three-day winning streak, as lenders such as ICICI Bank fell on caution ahead of quarterly economic growth data and the expiry of May derivative contracts later this week.
The Hang Seng Index fell 1.6 per cent to 22,554.93. The Hang Seng benchmark dippe

Nifty Has an Immediate Support at 6,050 - Nirmal Bang Ltd

Market Review:

Indian Market settles higher on Tuesday oil & gas, consumer durables, power and PSU stocks. At the close, the Sensex was trading up 130 points or 0.65% at 20,161 with 20 components gaining. Meanwhile, the Nifty was trading higher by 28 points or 0.46% at 6,111.25 with 27 components gaining.

Nifty Technical Outlook

Technical Outlook for 29th May 2013

Nifty (Spot): 6111.25 Analysis:

Nifty closed on extreme bullish note with a gain of 28 points, just below 6120 level. The way it reacted up from day’s low 6055 and ended, we expect 6120 will be cracked once again. So, staying bullish and following the ongoing trend is the strategy. Penetration of 6150 would take it towards 6220 once again. This looks quite p

Nifty May Face Severe Resistance At 6145 - GEPL Capital Ltd.

Nifty ended the day with a gain of 28 points at 6111. The expected bounce back has stretched a bit higher but the level of 6145 should serve as a severe resistance for Nifty. As long as it trades below the level of 6145 the index may come down till 6010 initially and below that 5950 is possible. In an alternate scenario any breach of 6145 would raise the possibility of a further upside till

One Should Concentrate On Curtailing Losses And Avoid Averleveraging. - Religare Securities Ltd


After strong rebound in last trading session, Nifty opened on flat note and witnessed erratic move throughout the day. Finally, it closed in green with market breadth inclined slightly on the advancing side. Importantly, it penetrated psychological mark of 6100 level and managed to sustain above the same as well. On gainers list, Oil&gas, Auto, PSU