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Indian Market
Indian equity markets were down 0.32% Nifty down by 19.60 pts and settle at 6094.50 Sensex down by 49.37 pts at 20062.24 Bank Nifty down by 58.20 pts at 13008.20
Global Market
European markets were down with FTSE down by 16.75 closed at 6787 ,CAC down by 20.76 closed at 4015 and DAX down 23.06 closed at 8449 Dow future was up by 17 closed at 15372.00
HEADLINES
Competition Commission looking into Jet-Etihad deal Dhanlaxmi Bank plans to raise Rs 100cr to strengthen CAR HPCL aims to restart 60,000 bpd fire-hit Vizag crude unit See mere 4-5% growth for paint industry in 2013: Akzo Nobel
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MARKET ANALYSIS:
Key benchmark indices edged lower as weakness in European markets weighed on sentiment adversely. Weak Q4 results announced during market hours today, 22 May 2013 by engineering and construction major, L&T also dampened sentiment. L&T tumbled nearly 6% after reporting poor Q4 results. The barometer index, the S&P BSE Sensex and the 50-unit CNX Nifty, both, trimmed losses after hitting their lowest level in over a week. The Sensex was provisionally down 32.78 points or 0.16%, off close to 140 points from the day's high and up about 75 points from the day's low. The market breadth, indicating the overall health of the market, was weak. Indian stocks fell for the third straight day today, 22 May 2013. Index heavyweight and cigarette major ITC edged higher. Another index heavyweight Reliance Industries (RIL) declined. Most bank stocks declined. Zee Entertainment Enterprises declined after Q4 results. The market edged higher in early trade on firm Asian stocks. It hovered in positive terrain in morning trade. It continued to hover in positive terrain in mid-morning trade. It regained strength after trimming intraday gains to hit fresh intraday low in early afternoon trade. Key benchmark indices pared further gains to slide to intraday low in afternoon trade as European markets edged lower in early trade. It slipped into the red to hit fresh intraday low in mid-afternoon trade. It trimmed losses after hitting fresh intraday low in late trade.
FII DII
21-May-13 21-May-13
2837.79 686.14
2158.35 1552.84
679.44 -866.7
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EXPERT OPINION
NIFTY
Nifty looks Bearish Strategy: Sell on rise Support: 6040 Resistance: 6130
BANK NIFTY
Bank Nifty looks Bearish Strategy: Sell on rise Support: 12900 Resistance: 13100 460
1.37
.0 PREVIOUS PERFORMANCE
TYPE SCRIP ANDHRA BANK IDFC TATA MOTORS ALLAHBAD BANK B/S RESULT
B S S B
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MARKET CALLS
6
SCRIPS ANDHRA BANK IDFC ACTION SELL SELL LEVEL 89.50 158.00
CASH
1ST TARGET 89.00 157.00 2ND TARGET 88.50 156.00 STOP LOSS 90.00 159.00
FUTURE
SCRIPS . TATA MOTORS SELL 292.00 290.00 288.00 294.00 ACTION LEVEL 1
ST
TARGET
ND
TARGET
STOP LOSS
ALLAHBAD BANK
SELL
124.00
123.00
122.00
125.00
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