Nifty Future Daily View – Support at 5870-5877 zone & No worry for bulls above 5840 for short term trend.

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Nifty Future

(Updated at 07.40 AM)

On Friday written that sharp retracement

not ruled out from 5930-5940 zone.

Nifty spot moved down to 5860.50 and closed at 5871.45.

Trading view for  Today………

No worry for bulls above 5840 for short term trend.

Support at 5870-5877 zone.

If trades below 58770-5865 for 15 minutes

then see slide up to 5854-5844.

Crucial support at 5840 & major support @ 5800.

Above 5892 see rally up to 5900-5908.

If trades above 5908 and not breaking below 5888 then

see blast up to 5929-5941-5955.

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End of Day Commentary and Corp. Result Out Today.

We had mentioned today that Nifty would see correction below support at 5899-5885. Nifty moved down to 5860.

Now Below 5850 Nifty may touch 5835. Next support at zone is at 5850-5833.

Key equity benchmarks closed in red on the first day of the new derivatives expiry. Indices have gained over 6 percent in the last fortnight and seems like traders have lightened their positions in the realty and banking stocks ahead of the monetary policy review on May 3.

Maruti Suzuki was the top gainer on the Nifty followed by Bharti Airtel, Bajaj Auto, GAIL and Larsen. HCL Tech, Jindal Steel, Reliance Industries, Jaiprakash Associates and HUL were top losers.

Maruti Suzuki’s fourth quarter standalone net profit rose significantly by 80 percent year-on-year to Rs 1,148 crore, sending its stock surging to a new 52-week high of Rs 1,693 on NSE. Revenue was up 14 percent to Rs 13,304 crore in this quarter. The stock closed up 5 percent at Rs 1673.0

LIC Housing Fin

247.85  15.50 (6.67%)  Vol :9.63m

LIC Housing Finance’s Q4 net profit grew by 24%(beating analysts’ forecast) YoY to Rs 316 crore.

Idea Cellular

122.40  5.95 (5.11%)  Vol :14.87m

Idea’s Q4 consolidated net profit grew by 34.7% QoQ to Rs 308 crore, helped by strong subscriber additions.

Delta Corp

63.60  -7.05 (-9.98%)  Vol :2.11m

Delta Corp reported a consolidated net loss of Rs 13.28 crore in the fourth quarter.

Biocon

278.85  -10.60 (-3.66%)  Vol :981.32k

Biocon’s Q4 consolidated profit grew 2.5 times YoY to Rs 249 cr, boosted by one time exceptional income of Rs 202 crore.

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Banknifty Spot Intraday View

BANK-NIFTY

Banknifty Spot

(Updated at 12.00 PM)

Currently trading at 12547.

Likely to take support at 12509-12480 zone.

Suppose to hold the support then again may

retest higher levels at 12598-12620.

If sustains above 12620 for 15

minutes then see 12650-12680.

Now 12509-12480 zone is crucial support and

breaking below this may take up to 12433-12399.

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Nifty Spot Daily View support at 5899-5885 & Hurdle at 5933-5950

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Nifty Spot

(Updated on 26.04.13 at 08.30 pm)

support @ 5899-5885

Hurdle @ 5933-5950.

If trades above 5924 with sustained vol

then see upside up to 5943-5950.

Unwinding of long position due to profit

booking likely at 5940-5960 zone

Need to be cautious at this zone in Longs.

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Closing bell Analysis For Subscribers

Closing bell

Key benchmark indices extended gains to hit fresh intraday high in early afternoon trade as gains in Asian stocks boosted sentiment. The S&P BSE Sensex was up 170.92 points to 19350.28. The CNX Nifty was up 60.85 points to 5897.75. The market breadth was positive. The Prime Ministers Economic Advisory Council has projected 6.4% growth in Indias GDP for FY14 higher than an estimated 5% growth for FY13. In 2013-14 the headline WPI inflation is expected to be around 6% compared with provisional figure at 5.96% at the end of 2012-13 the PMEAC said. Net FDI inflow is expected at $24 billion in 2013-14 from an estimated $18 billion in 2012-13. In contrast FII inflows are seen sliding to $18 billion in 2013-14 from an estimated $24 billion in 2012-13 it said. The RBI will announce the Monetary Policy Statement 2013-14 on May 3 2013. The RBI cut its repo rate by 25 basis points to 7.5% after a mid-quarter monetary policy review on March 19 2013. Inflation based on the monthly wholesale price index (WPI) eased the lowest level in 40 months at 5.96% in March 2013 and sharply lower than 6.84% in February 2013 data showed.

 Nifty spot For Tomorrow

Nifty Spot has resistance at 5940-5970.

Above 5884 No worry for bulls.

Above 5924 see 5933-5945

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Share Tips- Banknifty Support at 12480-12439

BANK-NIFTY

Banknifty Spot

No worry for bulls above 12426 for short term trend.

Support at 12480-12439.

Break below 12407 see slide up to 12247.

L&T fin

L&T Finance

Broken out consolidation

Buyers may enter  above 78.50-79.25

target = 83-85

Exit  below 77.70 for intraday

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