NIFTY-4757
CRUDE OIL-Rs3235 / barrel
GOLD-Rs16045 / 10 gram
Rs/$-Rs46.56/$
MARKET ROUND UP:
30 Share Sensex slumped 442 points or 2.7% to close at 15915 during the week ended 6th February, 2010. On the other hand Nifty moved down by 124 points or 2.55% to close at 4757 during the same period.
Selling pressure was seen across the board. FII were the major sellers in the market due to the global equity meltdown. The concern for this came from Europe where the Sovereign Debt of the country like Greece, Portugal and Spain has moved to very high level. Investors were seen moving out of the riskier asset to more secure asset during the week.
However market on special trading session on Saturday bounced back as buying emerged at the lower level.
Settlement of the Special trading session of 90 min on Saturday will be done on Tuesday.
Inflation: Food inflation inched up to 17.56% for the week ended January 23, on account of rising prices of potato and pulses. The wholesale price-based food inflation was 17.40% in the previous week.
MAJOR SECTORAL GAINERS:
MAJOR SECTORAL LOSERS:
AUTO |
-1.28% |
BANKEX |
-3.93% |
CAPITAL GOODS |
-1.63% |
FMCG |
-0.56% |
HEALTH CARE |
-0.25% |
IT |
-2.66% |
METAL |
-2.22% |
OIL&GAS |
-2.46% |
POWER |
-2.84% |
PSU |
-3.02% |
REALTY |
-5.16% |
TECK |
-2.44% |
MAJOR GAINERS IN NIFTY:
BPCL |
8.09% |
GAIL |
7.04% |
HERO HONDA |
1.48% |
MAJOR LOSERS IN NIFTY:
RANBAXY |
-10.17% |
SBI |
-7.00% |
JP ASSOCIATES |
-6.60% |
TREND IN THE INDICES:
|
NIFTY |
|
|
SENSEX |
|
|
VALUE |
% CHANGE |
|
VALUE |
% CHANGE |
1 WEEK |
4882 |
-2.50% |
|
16357 |
-2.70% |
1 MONTH |
5277 |
-9.85% |
|
17686 |
-10% |
3 MONTH |
4765 |
-0.20% |
|
16849 |
-5.50% |
6 MONTH |
4694 |
1.35% |
|
15903 |
0.10% |
1 YEAR |
2843 |
67.32% |
|
9090 |
75% |
TREND IN GLOBAL MARKET DURING THE WEEK:
DJI |
-1.07% |
NASDAQ |
-1.74% |
S&P500 |
-1.69% |
NYSE COMPOSITE |
-2.50% |
FTSE 100 |
-1.65% |
CAC 40 |
-3.39% |
NIKKEI 225 |
-1.38% |
HANG SENG |
-2.27% |
SSE COMPOSITE |
-1.67% |
BSE |
-2.70% |
FII TREND DURING THE WEEK:
Fig in crores
1/2/2010 |
197.5 |
2/2/2010 |
-48.8 |
3/2/2010 |
19.9 |
4/2/2010 |
485.7 |
5/2/2010 |
-42.5 |
FII were net buyers during the week to the tune of Rs 611.8 crores.
Eyes will be set on the certain US economic data releases are:
Tuesday
ICSC-Goldman store sales
Wholesale trade
Wednesday
International Trade
Treasury Budget
Thursday
Retail sales
Jobless claim
Business Inventories
Friday
Consumer sentiment
Fundamental Picks of the Week:
IGL Target Rs 260
GLORY POLYFILMS Target Rs 27
BASF Target Rs 405
KEY EVENTS DURING THE WEEK:
Government is likely to approve an additional equity infusion of Rs 800 crore into cash strapped Air India next week.
As sugar price is still hovering above Rs 40 per Kg, the centre has extended till September the stock limit order, under which the states are empowered to take action against the hoarders and black marketers.
PM told the states that they should use all instruments in their command to make available essential commodities to the poor.
Jobless claim in US rose by 8000 during the week ended 5th February,2010.
The Bank of England paused its GBP 200 billion bond purchase plan and left open the option to buy more as official gauge the health of UK`s recovery. The bank has also kept the benchmark interest rate at record low of 0.5%.
Retail sales in Germany increased in December. Sales rose 0.8% on MoM basis.
Japan wages slumped at record pace in December. Monthly wages slipped 6.1%.
TECHNICALS:
S3 |
S2 |
S1 |
NIFTY |
R1 |
R2 |
R3 |
4590 |
4620 |
4700 |
4757 |
4850 |
4880 |
4910 |
NIFTY is likely to face resistance at 4850-4900 level. However if it slipped below 4700 it may test 4500 level. Mid-term 50DMA of Nifty is currently above Short term 20DMA which clearly is a negative sign. We expect Nifty will trade with downward bias.
CONCLUSION:
We expect volatility to rise at this level where uncertainty is very high. Investor should wait for good valuation to emerge. Traders should wait and watch at this level as stop loss are expected to get triggered at this point due to huge volatility in the market.
SHARETIPSINFO Team
www.sharetipsinfo.com
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