Market outlook for the day | 25-04-2012

Fundamental Daily Market Roundup Key benchmark snapped two-day losing streak as firm European stocks supported sentiment. After a volatile morning trade market gained momentum in the pre-afternoon trade and remained firm. Market moved in a range in the afternoon trade and key indices able to closed in a green at the end of the session. IT major TCS jumped over 13% after good Q4 results and positive FY 2013 outlook. Other IT stocks also gained after positive outlook from TCS. FMCG stocks extended recent gains after Farm Secretary said that India is likely to have normal monsoon in 2012. Telecom shares dropped across the board. The market breadth was negative. On BSE, 1,401 shares fell and 1,331 shares rose. A total of 113 shares were unchanged. Technical Analysis

• AFTER TWO CONSECUTIVE FALLS, INDEX RECOVERED MARGINALLY IN TODAY'S SESSION ON THE BACK OF REBOUND IN INDEX MAJORS. THOUGH IT SLIPPED BELOW 5200 MARK IN THE FIRST HALF BUT MANAGED TO SUSTAIN ABOVE THE SAME IN THE END INDICATING EXISTENCE OF STRONG SUPPORT ZONE. KEEPING IN MIND THE OVERALL FORMATION, WE MIGHT SEE RISE IN VOLATILITY AHEAD OF F&O EXPIRY SO ONE SHOULD PLAN STRATEGY ACCORDINGLY.  • STOCKS WITH BULLISH BIAS FOR THE NEXT TRADING SESSION BGRENERGY, HCLTECH, JINDALSAW & SRTRANSFIN  • STOCKS WITH BEARISH BIAS FOR THE NEXT TRADING SESSION BEL & CIPLA • ADVANCE/DECLINE NUMBERS (NSE)  ADVANCE – 646  DECLINE – 793  • SECTORS PERFORMANCE AMONG SECTORIAL INDICES, IT AND TECK PIVOT WERE THE TOP GAINERS; UP BY 4.93% & 3.34% RESPECTIVELY WHILE MAJORITY ENDED ON FLAT NOTE.  • GLOBAL MARKET UPDATE (*at 4:00 pm IST) US MARKETS - POSITIVE  EUROPEAN MARKETS - POSITIVE  ASIAN MARKETS - MIXED  NIFTY INTRADAY LEVELS Sup – 5185-5160    Res – 5255-5290  Future n Options Nifty Futures Outlook -  • Nifty future opened positive, traded in the narrow range of 40 points throughout the day. Nifty May future made a high of 5274, low of 5222 and it closed at 5261. • Nifty spot closed at 5222.65 up by 22.05 points. • Bank Nifty closed at 10215.15 down by 28 points. • CNX IT closed at 5928.40 up by 248.25 points. • Nifty May future closed with 38.30 points premium.  • Nifty heavyweight stocks such as LT and BAJAJ-AUTO witnessed short build-up. • Nifty heavyweight stocks such as TCS, NTPC and ITC witnessed long build-up. • Volatility India index VIX closed at 19.25 down by 10.76%. • PCR (Volume) is at 0.99.  • Nifty April 5400 - 5500 Call strikes witnessed short covering. • Nifty April 5200 Put strike witnessed short build-up. • Cement sector witnessed short build-up as stocks ACC, AMBUJACEM, GRASIM, INDIACEM, JPASSOCIAT and ULTRACEMCO were down by 1.7%, 4.7%, 1.9%, 3.1%, 0.7% and 3.2% respectively. • Capital Goods sector was up by 0.7% as stocks APIL, BGRENERGY, CROMPGREAV, PUNJLLOYD, STRTECH and VOLTAS were up by 2%, 3.8%, 4%, 2.8%, 1.8% and 3.8% respectively. • Realty sector led by DLF, HDIL, IBREALEST, SOBHA and UNITECH was up by 1.1%. • Cement, FMCG, Oil & Gas, Technology and Banking sector witnessed maximum OI action. • Nifty rollover is at 44.80%.  • Nifty rollover is at premium of 36.60 points as the spread between the two contracts is positive.  Today`s Recommendations                                                                STER LTP RS 105.75 BUY BETWEEN RS 105-105.50 STOP LOSS RS 103 TARGET RS 112 (SPOT LEVELS) FOR 5-8 TRADING SESSIONS