NIFTY-4375
CRUDE OIL-$70.2/barrel
GOLD-$937.25/troy
Rs/$-Rs48.51/$
MARKET ROUND UP:
30 Share Sensex moved up by 243 points or 1.67% to close at 14764 during the week ended 26th June, 2009. Other hand Nifty surged by 62 points or 1.43% to close at 4375 during the same period.
We have in the last report said that market undertone looks bullish at least till the budget. Market exactly mimicked our expectation in the last week.
On Monday market mood was negative it touched the high of 4352 but soon it slipped into red to touch the low of 4221. It closed the day at 4235. Market came down on heavy profit booking at higher level. Global clues were also negative.
Tuesday saw lackluster trading it closed flat. Market touched the low of 4143 and high of 4267 while closing flat at 4247.
On Wednesday market looked as if it was building for up move. It inched up undertone looked very positive. Nifty touched the high of 4307 and low of 4218. It closed at 4292.
On Thursday some profit booking is witnessed. Negative outlook on monsoon also made the market participant bit cautious on taking any long position. Nifty touched the high of 4337 and low of 4241. It closed the day at 4241 in negative zone.
Sustained buying in Index heavy weight pulled the market up. Hope and expectation before budget and positive global market were the major reason for the spectacular show of Friday. Nifty surged on Friday by 133 points or 3.15% to close at 4375.
MAJOR SECTORAL GAINERS:
BANKEX |
|
|
2.52% |
CONSUMER DURABLE |
0.25% |
FMCG |
|
|
1% |
IT |
|
|
3.01% |
POWER |
|
|
2.55% |
REALTY |
|
|
2.32% |
MAJOR SECTORAL LOSERS:
MAJOR GAINERS IN SENSEX:
JP ASSOCIATES |
10.50% |
L&T |
|
7.70% |
ACC |
|
6.40% |
HDFC |
|
6.10% |
GRASIM |
|
5.80% |
ICICI BANK |
5.70% |
BHEL |
|
5.30% |
TCS |
|
4.20% |
MAJOR LOSERS IN SENSEX:
SUN PHARMA |
-13.20% |
RANBAXY |
-8.90% |
TATA STEEL |
-5.80% |
M&M |
|
-5.40% |
HDFC BANK |
-3.80% |
TREND IN INDICES:
|
NIFTY |
|
|
SENSEX |
|
|
|
VALUE |
% CHANGE |
VALUE |
%CHANGE |
1 WEEK |
4313 |
1.40% |
|
14521 |
1.70% |
|
1 MONTH |
4116 |
6.30% |
|
13589 |
8.60% |
|
3 MONTH |
3082 |
41.95% |
|
9739 |
51.60% |
|
6 MONTH |
2857 |
53.12% |
|
9328 |
58.30% |
|
1 YEAR |
4315 |
1.40% |
|
14421 |
2.40% |
|
FII TREND DURING THE WEEK:
FII were net seller during the week to the tune of Rs2521 crore.
KEY EVENTS OF THE WEEK:
Pfizer alleges Sun Pharma for patent infringement in generic version of Lyrica.
ONGC has struck oil and gas in three new blocks.
Aircel to sell its towers.
Firstsource bags Rs145 crore Idea deal.
The fiscal deficit for the first month of current financial has shot up to Rs54100 crore or 16.3% of the projected deficit for the entire year.
QIBs (Qualified institutional buyers) may have to pay 25% upfront for IPO bids.
MET confirms below normal rainfalls.
TATA Motors puts future product plan on hold.
KK Modi Group may buy Hong Kong Tobacco Company.
Soon after Mr. Nilekani was appointed chairman of Unique Identification Authority of India, he resigned as co-chairman of the board of directors at Infosys.
Tata Steel net drops 60% on slow US, Europe economy.
India cement to invest Rs1500 crore over 2 years.
TECHNICALS:
S3 |
S2 |
S1 |
NIFTY |
R1 |
R2 |
R3 |
4240 |
4270 |
4290 |
4375 |
4450 |
4480 |
4510 |
The NSE Nifty moved in a range of 209 points. The Nifty is likely to move up as it has breached Short term 20EMA of 4335 and medium term 50EMA of 4322. We expect the market to touch 4650 during the week.
The 14 day RSI is also in the mid at 54.
CONCLUSION:
Undertone of the market till budget remains bullish. We expect every eye will be on budget. Post budget market is likely to see some correction. We are fearful bull at this moment, a bull with caution. Investor should book profit on every rally.
SHARETIPSINFO Team
www.sharetipsinfo.com
Investors should book profit at every rise..
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