Tuesday, 20 November 2012
Sensex slips into red...Realty, Metal stocks down
BSE Sensex was trading at 18288, down 50 points over the previous close. It had earlier touched a day's high of 18467 and a day's low of 18280. It opened at 18422.
The NSE Nifty was quoting at 5,556, down 15 points over the previous close. It earlier touched a day’s high of 5,613 and a day’s low of 5554. It opened at 5,604.
The BSE Small-Cap index and BSE Mid- Cap index was trading down 0.09% and 0.17%.
RIL, Wipro, TCS, Tata Power,ICICI Bank, Tata Steel, Coal India, ONGC, Maruti, HDFC Bank,BHEL,M&M, L&T,SBI, Dr Reddys Lab, HDFC, Tata Motors are among gainers in Sensex and Nifty.
Infosys, Sun Pharma, Bharti Airtel, NTPC are among losers in Sensex and Nifty.
Realty and Metal are the biggest losers down by 2 and 1% followed by Teck, CG, IT Oil and Gas , HC, PSU,HC,Bankex, FMCG, CD, Power while Auto is the only gainer
European markets are lower today with shares in London off the most.
Mood in Europe is somber after Moodys lowered its debt rating of France. France prior to the cut hasa a debt rating of AAA which was lowered one notch by the rating agency.
The FTSE 100 is down 0.29% while France's CAC 40 is off 0.19% and Germany's DAX is lower by 0.07%
NATURAL GAS TREND
The open interest is not increasing with trend.Positionally Support for the Naturalgas is 201-194. Immediate resistance for Naturalgas is 213.
SILVER TREND
The Silver is in perfect uptrend .BUY signal For short term The current position is BUY .Positionally Support for the Silver is 60750-60550-58904.Immediate resistance for Silver is 61917
Crude down on profit-taking, French rating cut
Crude was down in Asia today as traders took profits and ratings agency Moody's downgraded the French government bond rating.
New York's main contract, light sweet crude for delivery in January, shed 31 cents to USD 88.97 a barrel and Brent North Sea crude for January delivery fell 18 cents to USD 111.52.
Crude surged more than USD 2 yesterday as violence intensified in the Israel-Gaza conflict, sparking fresh concern about supplies from the crude-rich Middle East.
Israeli strikes killed 32 Palestinians yesterday, taking the Gaza death toll to 109 as UN chief Ban Ki-moon joined efforts to end the worst violence in four years.
In Europe, France came under fresh pressure after Moody's became the second of the three major ratings agency to downgrade its top rating.
GOLD TREND
The Gold is in perfect uptrend .The Gold is now trading in overbought level.In last 1 month volatality is very less and fresh Buy can be considered in the Gold if it close above 32065 or buy with strict stop at 30245.Positionally Support for the Gold is 31500-31234-30840. Immediate resistance for Gold is 32065.
CRUDEOIL TREND
Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .Positionally Support for the Crudeoil is 4766-4716-4690.Resistance for the Crudeoil is 4989-5016.
COPPER TREND
Currently Copper is showing some up move after small correction and trend is strong and supported with good volume.BUY signal For short term Copper is in HOLD LONG position and closed above 3 week high with volume signals up breakout.Positionally Support for the Copper is 420-417.Resistance for the Copper is432-435.
ALUMINIUM TREND
The Aluminium is in long- medium- short-medium- short- term bull phase .Currently Aluminium is moving sideways .In last 1 month volatality is very less and fresh Buy can be considered in the Aluminium if it close above 110 or buy with strict stop at 103.Positionally Support for the Aluminium is 107-104.Immediate resistance for Aluminium is 110 .
NICKEL TREND
Overall trend of the Nickel is bearish for medium-long term .Currently Nickel is in strong uptrend and the trend is supported with good volume.Cautious point is buying at higer levels seems decreasing.Positionally Support for the Nickel is 879-875-874.Resistance for the Nickel is 909-915-919.
RBI bans bank loans to buy gold
The Reserve Bank today directed banks not to give loans for purchase of gold in any form, including primary gold, bullion and jewellery, to dissuade people from indulging in speculative activity.
"...it is advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold mutual funds," RBI said in a notification.
No advances should be granted by banks against gold bullion to dealers or traders in gold if, in their assessment, such advances are likely to be utilised for purposes of financing gold purchase at auctions or speculative holding of stocks and bullion, it said.
However, it said banks can provide finance for genuine working capital requirements of jewellers.
The decision was taken in view of significant rise in imports of gold in recent years putting pressure on currentaccount deficit.
In the 2011-12 fiscal, India's gold imports stood at USD 60 billion and the quantum of import was 1,067 tonnes.
In the April-June quarter of the current fiscal, however, gold imports had contracted by 18.4 percent year-on-year to Rs 71,912 crore (USD 13 billion).
The Monetary Policy Statement of April 2012 announced the constitution of a Working Group to study issues relating to gold imports and gold loans by Non-Banking Financial Companies (NBFCs) in India.
The Working Group, submitted its draft report in August 2012, suggested that other than working capital finance, banks are not permitted to finance purchase of gold in any form.
NIFTY TREND ANALYSIS
Nifty was on very slight bear trend to close at 5571. So today the first resistance for nifty is at 5604-08 level. Next resistance ranges are at 5634-39,5652-56 levels.On downside first support is at 5539-35 level. Next supports are at 5507-02,5475-70 level.Nifty is currently in a negative territory so today if nifty is below 5535 be very alert and below 5500 sellers can strike with more strength and on up side chance of covering is only above 5640 level.
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