MARKET VIEW FOR 13TH JULY 2011

WEAK GLOBAL & DOMESTIC CUES TRIGGERED HEAVY SELLING PRESSURE IN THE MARKET CLOSING NIFTY DOWN 5526(DOWN 26 POINTS)& SENSEX AT 18412(DOWN 310 POINTS).BOTH BSE MID-CAP AND SMALL-CAP INDEX WERE DOWN. MARKET BREADTH WAS POOR AND FIIs WERE NET SELLERS WHILE DIIs WERE NET BUYERS.INDIAN STOCK MARKET STARTED THE SESSION WITH THE GAP DOWN FOLLOWING THE SUBDUED GLOAL CUES,DISAPPOINTING INFOSYS NUMBERS AND LOWER THAN EXPECTED IIP NUMBERS SPOILED THE SENTIMENT.LATER AFTER SOME RECOVERY ON CABINET REJIG WITH HOPE THAT THERE WILL BE SOME POLICY ACTION BUT EUROPE LED THE FALL MAKING THE SENTIMENT TOO POOR.HENCE MARKET ENDED IN DEEP RED.THE MAIN CAUSE OF WORRY AMONG THE FIIs AND INSTITUTIONS IS OF SLOW-DOWN OF ECONOMIC GROWTH DUE TO CONTINUOUS RISE IN INTEREST RATE BY RBI.

AS THERE IS NO VERY SHORT TERM(2-5 DAYS) DOMESTIC TRIGGER, EXCEPT RBI MEET ON 26TH JULY, INDIAN STOCK MARKET IS LIKELY TO TRADE ON GLOBAL CUES. BHARTI AIRTEL, ITC, ABB(CMP:876.60 TGT:890-900), AXISBANK, GLENMARK PHRAMA(CMP:313.60 TGT:320-325), LUPIN LOOKS GOOD IN SHORT TO MEDIUM TERM

YESTERDAY THE BEARS WERE DOMINATED THE ENTIRE MARKET. NOW NIFTY IS EXPECTED TO GET A STRONG SUPPORT NEAR 5440. IF NIFTY BREACHES 5440 IT MAY GO DOWN TO TAKE SUPPORT NEAR 5300. HOWEVER THE SHORT TERM CRUCIAL RESISTANCE OF NIFTY LIES AT 5745, ABOVE WHICH NIFTY MAY TEST 5900, HENCE 5440 SHOULD BE THE STOP-LOSS FOR ALL LONG POSITIONS OF TRADERS, SPECULATORS & MOMENTUM PLAYERS IN INDICES AND STOCKS.

FOR TODAY(WEDNESDAY): NIFTY HAS SUPPORT AT 5500 AND RESISTANCE NEAR 5565. IF NIFTY BREAKS 5500 THEN 5470 AND THEN 5440 SHALL BE THE CRUCIAL SUPPORT ON THE OTHER HAND  IF NIFTY SUSTAINS ABOVE 5565, THE LEVEL OF 5610 & 5650 WILL BE THE TARGET.

ASTROLOGICALLY: THE RISING SIGN ON 13TH JULY 2011, AT 9.00AM AT MUMBAI (NSE) IS LEO 4deg 8 min IN THE STAR OF KETHU AND SUB OF MOON. MOON SIGNIFYING 4TH AND 12TH. SHOWS, death for speculators and traders(as 5th denotes speculation-12th from 5th is 4th) and it shows negative for speculators. 12th itself denotes deception and uncertainity. Moon, a fast moving planets shows changes, and 4th itself denotes lackluster trades. To sum-up from the SUB LORD of Ascendant basis: The bias of the market will keep on changing and there will be slack trade and lack of participation. Today traders and speculators will see DECEPTION(i.e market will move against the public sentiment and trade and confuse both BULL & BEAR)

2.APPLYING ASPECT OF TRINE (120degree aspect) by MOON & JUPITER TO ASCENDANT SHOWS SUDDEN RISE/SPIKES IN INDICES AND OPPOSITION ASPECT(180degree aspect) OF NEPTUNE TO ASCENDANT SHOW SUDDEN FALL IN INDICES. Hence traders are advised to stay away from the market today also. However BUYING MAY EMERGE AT THE END OF THE DAY. BUYING OF THE CE5500 &CE5600 SHALL CERTAINLY GIVE PROFITS  BY NEXT 2-5 DAYS   

Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.

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This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.