SENSEX 15543.93 -183.92
NIFTY 4646.25 -59.55
USD/INR 0053.05 +00.17
|
UPDATEDTIME 09.28 PM 29 DECEMBER 2011
|
The National
Stock Exchange's Nifty ended December series below important support levels
after witnessing sharp selling pressure in the last hour of trade.
According to analysts, the short to medium term trend remains bearish due to unfavourable economic situation globally and back home. This is likely to put pressure on the benchmarks
"There is nothing which has changed on the horizon. Things are as hazy as they have been for last at 3-4 months. Initial part of 2012, I do not think there would be any difference. At least on the domestic side till the time you have these assembly elections out of the way. Europe obviously is a simmering problem. It is very difficult to take a call as to how that event will unfold.
If you see, the dollar index has gone up which definitely puts the pressure on rupee also. Without RBI intervention, rupee looks like in a little bit of a problem till the time you have the global dollar positive environment which continues. One has to wait through all these things. Second half of CY12 as of now should be a bit healthier and promising.
Benchmarks had opened on weak note extending overnight losses. After moving in a narrow range for most of the day the benchmarks gave in to selling pressure towards the close.
The Bombay Stock Exchange's Sensex closed at 15543.93, down 183.92 points or 1.17 per cent. The 30-share index touched intraday low of 15515.44 and high of 15724.60.
The Nifty ended at 4646.25, down 59.55 points or 1.27 per cent. The broader index touched a high of 4701.80 and low of 4639.05 in trade today.
According to technical analysts, Nifty has failed to sustain above 200-week moving average and is likely to move to lower levels.
"The important point this month has been that we have now conclusively closed below the 4770 mark, which was the 200-week moving average. Now we are set up basically to take out 4530, which was a strong support. Once that gets taken out, easily a thumb rule type target could be closer to 4200-4250.
Why that will happen, what events will trigger it, the time will tell. Clearly the market after several attempts of getting past this 4770-4800 zone has failed and should move to lower levels.
BSE Midcap Index was down 0.35 per cent and BSE Smallcap Index moved 0.74 per cent lower.
Amongst the sectoral indices, BSE Oil&gas Index was down 2.62 per cent, BSE Capital Goods Index slipped 2.39 per cent, BSE Realty Index declined 1.66 per cent and BSE Power Index slipped 1.43 per cent. BSE Metal Index was up 0.23 per cent and BSE Healthcare Index edged 0.19 per cent higher.
Reliance Communications (-5.42%), Tata Power (-4.57%), Reliance Infrastructure (-4.45%), BHEL (-4.01%) and Reliance Industries (-4%) were major Nifty losers.
Reliance Industries is in "advanced talks" with American defence giant Raytheon to create a joint venture that will pursue opportunities in homeland security in India and abroad.
Jindal Steel (2.18%), SAIL (1.63%), Grasim Industries (1.61%), Reliance Power (1.11%) and Hindustan Unilever (1.01%) were amongst the gainers pack.
Shares of Bharatiya Global Infomedia, Tijaria Polypipes, Taksheel Solutions, RDB Rasayans, Onelife Capital Advisors, Brooks Laboratories and PG Electroplast were witnessing selling pressure after the Securities and Exchange Board of India banned their promoters, accusing them of misusing IPO proceeds, performing shoddy due-diligence process, and aiding promoters to prop up prices on listing day.
Meanwhile, the food articles inflation for the week ended December 17 has slipped to 0.42 per cent vs 1.81 per cent a week ago. Primary articles inflation has dipped to 2.7 per cent vs 3.78 per cent. Fuel group inflation has eased a little to 14.37 per cent as compared to 15.24 per cent a week ago.
According to analysts, the short to medium term trend remains bearish due to unfavourable economic situation globally and back home. This is likely to put pressure on the benchmarks
"There is nothing which has changed on the horizon. Things are as hazy as they have been for last at 3-4 months. Initial part of 2012, I do not think there would be any difference. At least on the domestic side till the time you have these assembly elections out of the way. Europe obviously is a simmering problem. It is very difficult to take a call as to how that event will unfold.
If you see, the dollar index has gone up which definitely puts the pressure on rupee also. Without RBI intervention, rupee looks like in a little bit of a problem till the time you have the global dollar positive environment which continues. One has to wait through all these things. Second half of CY12 as of now should be a bit healthier and promising.
Benchmarks had opened on weak note extending overnight losses. After moving in a narrow range for most of the day the benchmarks gave in to selling pressure towards the close.
The Bombay Stock Exchange's Sensex closed at 15543.93, down 183.92 points or 1.17 per cent. The 30-share index touched intraday low of 15515.44 and high of 15724.60.
The Nifty ended at 4646.25, down 59.55 points or 1.27 per cent. The broader index touched a high of 4701.80 and low of 4639.05 in trade today.
According to technical analysts, Nifty has failed to sustain above 200-week moving average and is likely to move to lower levels.
"The important point this month has been that we have now conclusively closed below the 4770 mark, which was the 200-week moving average. Now we are set up basically to take out 4530, which was a strong support. Once that gets taken out, easily a thumb rule type target could be closer to 4200-4250.
Why that will happen, what events will trigger it, the time will tell. Clearly the market after several attempts of getting past this 4770-4800 zone has failed and should move to lower levels.
BSE Midcap Index was down 0.35 per cent and BSE Smallcap Index moved 0.74 per cent lower.
Amongst the sectoral indices, BSE Oil&gas Index was down 2.62 per cent, BSE Capital Goods Index slipped 2.39 per cent, BSE Realty Index declined 1.66 per cent and BSE Power Index slipped 1.43 per cent. BSE Metal Index was up 0.23 per cent and BSE Healthcare Index edged 0.19 per cent higher.
Reliance Communications (-5.42%), Tata Power (-4.57%), Reliance Infrastructure (-4.45%), BHEL (-4.01%) and Reliance Industries (-4%) were major Nifty losers.
Reliance Industries is in "advanced talks" with American defence giant Raytheon to create a joint venture that will pursue opportunities in homeland security in India and abroad.
Jindal Steel (2.18%), SAIL (1.63%), Grasim Industries (1.61%), Reliance Power (1.11%) and Hindustan Unilever (1.01%) were amongst the gainers pack.
Shares of Bharatiya Global Infomedia, Tijaria Polypipes, Taksheel Solutions, RDB Rasayans, Onelife Capital Advisors, Brooks Laboratories and PG Electroplast were witnessing selling pressure after the Securities and Exchange Board of India banned their promoters, accusing them of misusing IPO proceeds, performing shoddy due-diligence process, and aiding promoters to prop up prices on listing day.
Meanwhile, the food articles inflation for the week ended December 17 has slipped to 0.42 per cent vs 1.81 per cent a week ago. Primary articles inflation has dipped to 2.7 per cent vs 3.78 per cent. Fuel group inflation has eased a little to 14.37 per cent as compared to 15.24 per cent a week ago.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
No comments:
Post a Comment