NIFTY: Pre Budget Technical Analysis

TECHNICAL VIEW:

Nifty is in an uptrend and has immediate support at 7700 and resistance at 7860. A break above 7860 may take it to 261.8% Fibonacci level of 8100.

Below 7700, Nifty has very strong support at 7500.

We expect Nifty to move between 7500 – 7800 with an upward bias till budget and go further up after budget.

It may be difficult for Nifty to breach 7500 unless there is a geopolitical major negative or the budget is anti-markets.

Markets may be volatile and the levels 7500 – 7800 for the Nifty may be tested pre-budget.

We recommend investing before budget and holding existing equities.

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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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YES Bank Q4 net seen up 12%, asset quality may be stable!

Market has entered oversold zone and cautious trading is recommended and investors should partly book profits in their long positions. Aggressive new longs are not advised. But at the same time short positions should also be avoided. Opening is likely to be flat.  Stocks to watch are Glaxo, Sesa, and Zensar Technologies. Global markets are positive and due to lack of any major events, the expiry may remain less volatile. 

Today’s Headlines

1) Miners don't see Goa mining restart before 1-2 years
2) Zensar Q4 net jumps 41.3% to Rs 55.25 cr
3) Novartis transforms drug biz via deals with GSK and Lilly
4) YES Bank Q4 net seen up 12%, asset quality may be stable
5) NSE ready to extend currency trading hours; awaits SEBI nod
6) Fuel demand grows by 0.7% in FY14; slowest in 12 years
7) Ultratech Cement Q4 PAT may fall 16% to Rs 610 cr: Poll

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

Market Outlook- UK fund invests $16 million in MFI Equitas!

The 50-share Nifty index is expected to open lower on Friday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological support level of 6100-6120 in trade today. Stocks in news are SBIN, Infosys, Reliance Industries, Bajaj Electricals, Essar Steel, JSPL, Adani Power, HDFC, IDFC and Coal India.

Today’s Headlines

1) UK fund invests $16 million in MFI Equitas.
2) After SBI, HDFC cuts lending rates for loans up to Rs 75 Lakh.
3) NCC close to selling its thermal power assets to Sembcorp.
4) Quadria Capital, DEG and Swedfund invest Rs 400 cr in Medica Synergie.
5) Ready to run Male airport if Maldivian govt invites us: GMR.

Read full story here: - http://www.quora.com/Rahul-Prasad-12/Posts/Market-Outlook-UK-fund-invests-16-million-in-MFI-Equitas

Banks raising overseas capital for tier-I part under Basel-III !

The 50-share Nifty index is expected to open higher on Friday following mixed trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological level of 6,100 in trade today ahead of crucial GDP data. Stocks in news are Heidelberg Cements, Idea, BHEL, L&T, Nevyeli Lignite Corporation, Arvind, TCS, United Bank of India, Wipro and Sugar Stocks.

Today’s Headlines

1) RBI begins probe into UBI over mounting bad debts.
2) IKEA looks to scale up furniture sourcing from India.
3) Kristal Spirits eyes 10% share in Indian premium vodka market.
4) Telcos migrating to IP backbone on rising data usage: NSN chief.
5) Banks raising overseas capital for tier-I part under Basel-III.

Read detail analysis report here: - http://www.quora.com/Rahul-Prasad-12/Posts/Banks-raising-overseas-capital-for-tier-I-part-under-Basel-III

The index is expected to touch its psychological level of 6250 in trade today!

The 50-share Nifty index is expected to open higher on Wednesday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to rally past its crucial psychological level of 6250 in trade today. Stocks in news are NTPC, Ranbaxy Laboratories, Bharti Airtel, Reliance Indu, Tata Steel, Shriram Transport Finance, Alstom India, Supreme Industries, Lupin DLF and Infosys.

Today’s Headlines

1) Vodafone to raise Indian unit stake to 100% for Rs 10,141 crore.
2) Tata Sky reduces price of HD set top box to Rs 2,000.
3) JSW Steel to raise $600 million from overseas market.
4) Coal blocks auction may be delayed further to March.
5) Government to ask RIL to give up 80% of D6 gas block.
6) Local incorporation not necessary for Citibank, StanChart, HSBC and Deutsche Bank.

Read full detail here: - http://www.quora.com/Rahul-Prasad-12/Posts/The-index-is-expected-to-touch-its-psychological-level-of-6250-in-trade-today

Max Life posts 11% growth in new business premium in H1!

The 50-share Nifty index is expected to open higher on Tuesday tracking positive trend seen in other Asian markets, while investors will keep a close eye on the Reserve Bank of India (RBI) which is scheduled to hold its second-quarter review of monetary policy today. Stocks in news are Ashok Buildcon, Delta Corp, Jai Corp, JM Financial, JSW Steel, Jubilant Sciences, Mahindra Holidays, Marico, NTPC, Ranbaxy Laboratories and Pidilite Industries.

Today’s Headlines

1) Not considering change in ownership structure: Federal Bank.
2) Max Life posts 11% growth in new business premium in H1.
3) Oil ministry to ask RIL to surrender 5 KG-D6 gas finds.
4) Mumbai airport's main runway shutdown delayed by 3-4 days.
5) Petrol may be cheaper by Rs 1.50 before Diwali.

For detail analysis report: - http://www.quora.com/Rahul-Prasad-12/Posts/Max-Life-posts-11-growth-in-new-business-premium-in-H1