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DAILY EQUTY REPORT BY EPIC RESEARCH-29 June 2012
1. Daily Equity Report (29JUN 2012)
Highlights
Indian market
ï§ Indian equity markets up 0.14%.
ï§ Nifty up 7.25 pts and settle at 5149.15.
ï§ Sensex was up 23.00 pts at 16990.76.
ï§ Bank Nifty down 13.95 pts at 10003.85.
Global market
ï§ European markets were down with FTSE down by 67.82 pts at 5456.10, CAC down
by 28.31 pts at 3034.81 and DAX down 107.96 pts at 6121.03
ï§ Dow future down 87.00 pts at 12466.00.
ï§ S&P/CS Composite-20 HPI y/y is 2.0M & previous 1.7M
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Market Analysis:
The 30-share BSE Sensex traded at the lowest point of the day in quiet trade Thursday.
The Nifty index also slipped below the 5,150 mark, but the rupee pulled back below the
57 mark to the dollar. This is the third straight day of lacklustre trade in Indian stocks.
Markets were uncharacteristically flat ahead of the derivatives expiry. At 1 p.m., the
Sensex rose 25 points or 0.15% higher at 16,993, while the Nifty index advanced 6 points
to 5,148
European markets were flat, while Asian stocks saw mixed trade today. Japa n's Nikkei
index soared 1.65% on the back of positive data from the US, where pending home sales
rose in May .
Auto stocks (-0.5%) saw selling pressure, mainly on account of the underperformance in
Tata Motors (-1.6%), which fell for the second straight day..
Banking stocks were down on the back of large block deals in private sector lender Axis
(-2.3%) and Y es Bank (-2.2%). State Bank of India (-1.2%), India's biggest lender, also
saw selling pressure.
On the Nifty, 29 of the 50 stocks traded higher. Infra major Jaiprakash Associates
(1.5%) was the top gainer, followed by engineering goods manufacturer Siemens India
(1.5%)..
The market breadth was neutral with 50% stocks managing to advance on the broader
BSE 500 index .
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News you can use:
ï§ In a bid to check rupee's free falling against the US dollar, the Reserve Bank of
India (RBI) on Monday hiked the limit of external commercial borrowing (ECB) by
USD 10 billion. Moreover, the regulator also increased the limit of overseas
investment in government bonds by USD 5 billion to USD 20 billion.
ï§ Monsoon rains 18 per cent below average in week to June 27 reflecting a lull phase over
oilseed-growing areas of central India
ï§ HSBC disposes of Non core investment in India-The sales of 4.73% in Axis Bank
limited and 4.74% in Yes Bank Limited were undertaken on BSE and NSE of India
respectively.
Fiis & Diis
CATAGERY DATE BUY SELL NET
FII 28-Jun-2012 3805.31 4917.94 -1112.63
DII 28-Jun-2012 1858.24 1085.87 772.37
NIFTY Daily pivots
Pivot R4 R3 R2 R1 PP S1 S2 S3 S4
Nifty 5257 5219 5181 5165 5143 5127 5105 5067 5029
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Daily Nifty Gainers
COMPANY CURR.RATE VOL(000) PREV.CL NET CHANGE CHANGE%
JP Associate 71.5 14372.75 69.45 2.05 2.95
Ambuja Cem. 173.55 2867.63 170.1 3.45 2.03
Tata Steel 429.05 4935.43 420.7 8.35 1.98
NTPC 157.6 3775.06 155.1 2.5 1.61
ACC 1223.4 388.26 1204.4 19 1.58
Daily Nifty Losers
COMPANY CURR.RATE VOL(000) PREV.CL NET CHANGE CHANGE%
Sesa Goa 185.85 2653.12 191.45 -5.6 -2.93
GAIL India 345.9 2008.34 354.7 -8.8 -2.48
Sterlite Inds. 97.5 7002.03 99.8 -2.3 -2.30
HCL Tech. 459.05 2038.93 469.75 -10.7 -2.28
Axis Bank 978.6 5658.99 1000.95 -22.35 -2.23
Stock in ban period Stocks to watch
ïŒ ABAN ïŒ ABAN
ïŒ COREEDUTECV ïŒ CANARA BANK
ïŒ DLF
ïŒ PANTALOON
ïŒ COAL INDIA
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Nifty Daily Chart
INDEX OPEN HIGH LOW CLOSE CHANGE %CHANGE
Nifty 5154 5159 5121 5149 9.35 0.18
ANALYSIS:
Nifty looks bearish
Strategy: Sell on rise
Support:5010
Resistance:5200
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Bank Nifty Daily Chart
INDEX OPEN HIGH LOW CLOSE CHANGE %CHANGE
Bank Nifty 10025 10044 9935 10003 3.85 0.04
ANALYSIS
Bank Nifty looks bearish
Strategy: Sell on rise
Support: 9940
Resistance:10060
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MARKET CALLS
CASH
SCRIPS B/S LEVEL SL1 T1 T2 T3
ABAN B 388 385 392 396 401
DLF B 195 192 197 199 203
FUTURE
SCRIPS B/S LEVEL SL1 T1 T2 T3
CANARA BANK S 404 407 401 398 395
PENTALOON S 175 177 173 171 169
PREVIOUS PERFORMANCE
TYPE SCRIPS B/S LEVEL TARGET
CASH RIIL BUY 412 415.40
CASH SRTRANSFIN BUY 513 518.50
FUTURE RANBASY SELL 484 NOT EXE.
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INVESTORSâ GUIDE
We head into a derivative contracts expiry week, with stock markets having climbed the
conventional âWall Of Worryâ syndrome. The week ahead will be volatile with a âBullish Biasâ
as sentiment has started to turn positive on the back of low oil prices and expectation of better
government performance on the back of the expected ârejigâ on key posts being filled due to
Presidential elections.
Markets surprisingly did not react negatively to the âStatus Quoâ on rates announced by the RBI,
rating agencies downgrade threats and also ignored poor global cues to end the week up
marginally. The only âJoker in the Packâ continues to be the Rupee, which is limiting inflows by
touching new lows despite being very heavily oversold. The same was the sole reason for RBI
not cutting rates and easing money supply. Also oil marketing companies in their fortnightly oil
price revision stated the same reason for not cutting petrol prices. Rating agencies are also going
overboard in threats of downgrade to âSpeculative gradeâ purely due to the sharper than expected
fall in the Rupee.
The Nifty now seems set to test the100 dma (day moving average) at 5198 and the Right
shoulder @ 5240/50, with support now @ 5074 which is the 200dma. The high Beta âBank
Niftyâ has again started to outperform the Nifty & will test the 100dma @ 10095 & the right
shoulder @ 10300.
Smart money continues to buy quality with the broader market now showing positive divergence
& mid cap stocks recording smart gains. This also indicates that purely by default how much
Indiaâs fundamentals tend to improve on the back of low Oil prices & which will actually see
Smart Money buy stocks with a longer term horizon. High Beta sector/stocks are being chased
with Defensiveâs continuing to underperform.
Globally markets continue to be âHauntedâ by rising yields on Spanish, Italian & Portuguese
debt, which is seeing equities underperform. However the sharp commodity sell off has also seen
Gold lose some of its sheen & it ended near 1 month lows. The same is indicating that the
relative outperformance of Gold as an asset class may be over & we could see smart money re-
entering Equities.
The other factor being watched closely is the progress of Rains/Monsoon & the also in the US
certain disruption in Oil supplies due to seasonal Tropical Storms which will see Oil prices react.
With most of Europe now actually watching the Euro cup more than tracking the Euro, expect
rangebound moves globally & our own markets should see some more optimism with
prices/stocks seeking higher levels.
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Factors to watch:
ï Rupee to stop falling?
ï Progress of rains/US storm impact on Oil Prices.
ï Low Bond yields expecting out of turn action by RBI?
ï Volatility ahead of F&O expiry.
ï Government Rejig: Who will be the FM?
ï Nifty support @ 5070 & resistance @ 5240.
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