Technical: Wait & Watch & Good time to Switch

Nifty future has broken its crucial supports of 7640 & 7530. The markets may fall further and Nifty may hover between 7300-7450. At these levels, 7300 is a strong support and can be broken only if there is a very strong negative event.

We reiterate that lower levels will offer an attractive investment opportunity for equities. Immediate market movements are based on risk aversion and escalation in tensions in Middle East. Money is moving from risk assets to safety of gold. The hike in Rail fares has increased fears of inflationary trend & interest rates have moved up by 20 basis points in the last one week.

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Coal India slips after weak Q4 results!

Equity benchmarks remained under pressure with the Nifty trading below the 7300 level on expiry day, weighed down by heavyweights like Infosys, Reliance Industries and HDFC twins. Hindalco Industries rebounded, gaining nearly 3 percent after fourth quarter earnings.  The barometer index, the S&P BSE Sensex, close at 24234.15 and down 321.94 points or 1.31%, off close to 294.05 points from the day's high and up about 27.65 points from the day's low.

Who Moved and Why

1) Alphageo (India) hits the roof on turnaround Q4 numbers.
2) Coal India slips after weak Q4 results.
3) Hindalco reverses intraday fall after declaring Q4 result.
4) Bajaj Electricals slumps after reverse turnaround in Q4.
5) IOC gains after Q4 results.
6) Excel Crop Care spurts after robust Q4 earnings.
7) Escorts slips after weak quarterly earnings.
8) Tata Global Beverages drops after weak Q4 results.
9) Nalco declines after weak Q4 outcome.
10) Hero MotoCorp slips after Q4 results. 

Read detail analysis report here: - http://rrfinance.com/Reserch/Pdf/07-July/DMR/29_may_equity_closing_update.pdf

Maruti Suzuki aims to grow at 10% in FY15 on rural boost

The 50-share Nifty index is expected to open higher on Friday, following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to reclaim its crucial psychological level of 7,300 in trade today. Stocks in news are UCO Bank, MCX, JSW Steel, Spice Jet, Renuka Sugars, Sks MicroFinance, Reliance Comm, Infosys and SBIN.

 Today’s Headlines

1) Maruti Suzuki aims to grow at 10% in FY15 on rural boost.
2) Isuzu Motors launches 'D Max' in Kerala.
3) IDFC seeks RBI nod for Rajiv Lall as chief of its proposed bank.
4) Everstone Capital picks up 51% stake in Indonesian franchise of Domino's Pizza.
5) Oil & gas cos hope govt will let market decide gas pricing.
6) Teva Pharmaceutical recalls 38,858 bottles of drugs made by Emcure Pharmaceuticals in US market.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Market Outlook-Nestle India's Q1 net drops 7 per cent!

The 50-share Nifty index is likely to open higher on Wednesday following positive trend seen in SGX Nifty.  Tracking the momentum, the index is expected to reclaim its crucial psychological level of 7,150 in trade today. Stocks in news are HCL Tech, BHEL, Tata Comm, L&T, Castrol India, Bank of Baroda, Nestle India, Repco Fin, Reliance Ind, and ONGC.

Today’s Headlines

1) Nestle India's Q1 net drops 7 per cent.
2) Dr Reddy's Q4 profit up 25% lags estimates.
3) Tata Group launches first 'Design Studio' in UK.
4) Honda Motorcycle & Scooter India sets target to sell 45 lakh units in FY'15.
5) Bharat Benz's VRV Sriprasad to be Volvo India's managing director.
6) Helion invests Rs 25 crore in enterprise mobility co Rapid Value.

Read full analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Portfolio Performance-Equity Recommendation

Portfolio Performance- 8.4% (absolute) ROI in April versus 0.3% of Nifty in the same period

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