Sunday 28 April 2013

Weekly Outlook

Nifty may consolidate at higher levels and trade in the range of 5850 -- 5950
during the coming week ahead of the Reserve Bank of India's policy meet
scheduled on May 3rd.

While the market is expecting a minimum of 25 bps rate cut, RBI may choose
to postpone the possibility of any rate cut till the arrival of monsoon.

Thursday 25 April 2013

Global Economic Parameters

Country                              Industrial Production        Consumer Confidence

Brazil                                         -3.20                                  114.30
China                                          8.90                                  108.20
India                                           0.60                                  121.00
Russia                                        2.60                                    -7.00
France                                       -2.80                                    83.51
Germany                                    -1.80                                   36.30
Spain                                         -8.50                                   52.10
UK                                            -2.20                                  -26.00                      
Euro Area                                  -3.10                                  -22.30
Japan                                        -10.50                                  44.80
US                                              3.50                                   59.70




       

Sunday 21 April 2013

Weekly Outlook

The positive sentiment is likely to continue for the coming week.

Resistance     2     5875
Resistance     1     5850
Support          1     5740
Support          2     5700

Outlook         :     Positive.

Thursday 18 April 2013

Too Little, Too Late

Some fairly good results from corporates like IndusInd Bank,  MRF Tyres,
TCS,  HCL Tech,  Yes Bank, etc. coupled with the continuing downfall in
prices of crude oil may have caused Nifty to rally further in today's session.

The govt. at the centre has come out today with its Annual Supplement to
the Foreign Trade Policy.    Amongst other measures,  the govt. has widened
the Interest Subvention Scheme to cover 134 more subsectors of engineering
sector.    It further extended the scheme upto 31st Mar., 2013.
These measures may be termed as,  ' too little, too late'.

Tuesday 16 April 2013

Market Review

Just a couple of days back, Infosys had disappointed the markets.
But now, with positive inflation numbers, fall in gold, crude and some other
commodities' prices, sentiment has turned around.    The same has been
reflected in today's trade, with Nifty closing with strong gains.

If Reliance Industries Limited comes out with good Q4 numbers today,
the prevailing positive sentiment will receive a further boost causing Nifty to
possibly rally more in the coming sessions.

Friday 12 April 2013

Market Review

Just a couple of days back, car sales number contracted by 6.7% as per SIAM.
This number shows that car sales have contracted first time in over a decade.

Now, Infosys has come out with its Q4 results.    The numbers have absolutely
disappointed the markets with its net up by only 3% YoY.    No wonder, Infy
shares crashed by 20% intraday.    What is more concerning is its annual guidance,
projecting a 6% - 10% growth in revenues.    This is far below industry standards.
If Infy results are a harbinger of what is going to follow in the earnings season, then,
an earnings downgrade is inevitable and imminent.

Industrial output (IIP) numbers for the month of February has come out at 0.6%.
Barring consumer goods, all other constituents of industrial output basket have declined.

Things are looking very gloomy for Nifty.    Hope FIIs don't turn bearish at this crucial
juncture.


Monday 8 April 2013

Market Review

Nifty seems to be evenly poised at 5550 odd levels.

With earnings season ahead, market players will be keeping their
fingers crossed.    However, the consensus in the market seems to be
suggesting that the earnings season is likely to remain muted.

Thursday 4 April 2013

Market Synopsis

Globally, Japan has announced a major monetary easing policy surprising
the markets with regard to the intensity of the policy action.
Bank of Japan has pledged to double its govt. bond holdings in two years
and also to buy more of equity ETFs. (exchange traded funds).
BoJ has also decided to extend the average maturity of bonds to around
seven years from around three years currently.

Locally, speculations about early elections, policy inaction on the part of
the govt. and almost no positive triggers in the immediate future,  have
haunted the markets.    In such a scenario, volatility may remain high
for some time.