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MORNING NOTE 17 JAN 2011

DATA MATRIX OF LAST SESSION FIRST LIGHT HEADINGS

INDEX Close Chg Chg Steel Authority of India fixes record date (Jan 20,2011) for dividend payment
Sensex 18860 -323 -1.68% Core Projects and Technologies allots 51,008 equity shares under ESOS
Nifty 5655 -97 -1.69% Amara Raja Batteries fixes record date( Jan 31,2011) for one-time special dividend
Midcap 7224 -86 -1.18% SEBI) bans Reliance Infra and Reliance Natural Resources (RNRL) from making
Smallcap 8994 -94 -1.03% investments in secondary market of listed securities until December 2012 .
Reliance Industries has decided to foray into the cement sector
VALUE TRADED (Rs Crs) Chg PVR Pictures, a film distribution and production house and a 60 per cent subsidiary
BSE 3148 -11.67% of the listed PVR, is set to invest around Rs 100-125-crore in FY12
NSE 12744 -9.96% HDFC's Q3 net profit up by 32.72%.
F&O Total 210495 37.96% Tata Coffee, India's largest Coffee Producing Company has entered into a non
binding Memorandum of Understanding (MOU) with Starbucks Coffee
NET INFLOWS (Rs Crs) Chg International
FIIs (749) 200% MARKET INSIGHT
DIIs 290 20% On Friday Jan 14 2011, Earlier the equity markets started the trade on a flat note tracking
weak global cues. The benchmarks indices drifted lower well in the start as after IT
FII OPEN INTEREST (Crs) Chg bellwether Infosys, it was Steel Authority of India (SAIL) that had reported a decline of more
FII Index Futures 12039 1.25% than 30% in its Q3 net profit indicating the start of nasty earning season. The equities were
FII Index Options 50357 3.32% unable to gain momentum as the traders preferred staying on the sidelines ahead of the
FII Stock Futures 33473 -1.80% December Inflation data as this was to being speculated to decide the action of RBI's in its
forthcoming policy review which is scheduled to be held on January 25, 2011.The increasing
FII Stock Options 615 15.48%
monthly inflation data in the early afternoon broke the back of the markets as the investors
hit the panic button in all the rate sensitive sectors which edged lower in trade, barring
World Indices Chg Information Technology, Consumer Durables, Technology space which kept up its
Dow Jones 11787 0.47% momentum. However, in the early noon session, the markets recouped some of its losses on
Nasdaq 2755 0.72% emergence of buying as investors felt a long spell of selling was overdone, which led to the
FTSE 100 6002 -0.36% benchmark indices stage a smart recovery and enter in the green terrain. Further, the markets
while entering the last leg of trade again nosedived in red as the selling pressure gripped the
Commodity Chg rate sensitive's with auto taking the lead. The 50 share index-Nifty--on NSE after touching the
Crude Oil (US$/bl) 98.0 0.43% physiological level of 5800 breached even the crucial level of 5700 mark to close at 5,647.25,
while the 30 share index-Sensex--on BSE also witnessed a free fall as it too by then tanked
Gold (US$/oz) 1361.0 -1.09%
over 300 points breaching its 19,000 mark.

Top Movers Close Price Chg

The broader indices imitating the larger counterpart were down by 1.30% (Midcap
WIPRO 462.05 1.87 index) and 1.07% Small cap index respectively. On the BSE Sectoral front, no space was
TATAPOWER 1375 1.82 spared, worst among the bad were the stocks from the Realty, Bankex, Metal, Auto and
HCLTECH 470.05 1.14 Capital goods space. The BSE Sensex tumbled 345.08 points or 1.80% to settle at
RANBAXY 567.8 0.73 18,837.74 (Provisional).The index touched a high and a low of 19,447.82 and 18,811.96
DRREDDY 1650 0.47 respectively (Provisional). There were 8 stocks advancing against 22 declines on the
index(Provisional). The S&P CNX Nifty decreased by 106.25 points or 1.85% to 5,645.65
(Provisional). The index touched a high and a low of 5,833.65 and 5,639.65, respectively
Top Losers Close Price Chg
(Provisional).
SAIL 161 -6.56
AXISBANK 1206.1 -4.69 The BSE Mid-cap and small cap too nosedived in red as they had lost 1.30% and 1.07%
STER 175 -4.42 respectively (Provisional). There was no gainer on the BSE Sectoral space, Realty down
HDFCBANK 2052 -4.25 by 3.22%, Metal down by 2.78%, Bankex down by 2.54%, Auto down by 2.19% and
HDFC 639 -4.25 Capital goods down by 1.95% were the worst hit.

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Morning Notes
make more, for sure.
MARKET OUTLOOK- CAUTIOUSLY OPTIMISTIC

TECHNICALLY SPEAKING: Indian equity markets continuing its downward trend have again ended the week on weak note as the
markets slumped for fourth day out of the five days trading session, with disappointing results from software services bellwether Infosys
Technologies adding to investor's gloom over rising prices and the prospect of tighter monetary policy stance in the forthcoming policy
review scheduled on January 25.

FAVORED SCENARIO: Remember we have said 5680 could be crucial support to watch. Yesterday spot index shattered this levels with
substantial volumes. Now at current juncture sentiments seems to be eroded though next level of support could be around 5580-5600 (200
dma). Any closing below this level may open the flood gates and we might see some new lows of current fiscal near to 5400-5450.

VARIED SCENARIO: On the flip side any bounce back from current levels may reap indices towards 5800 level where we might see
some sort of consolidation. Any break out above this may generate some suggestive buying opportunities though 6000-6050 might be the
next ress zone. HAPPY TRADING......
T O D A Y 'S M A R K E T L E V E L S
In d e x S u p p o rt 2 S u p p o rt 1 P re v io u s C lo s e R e s is ta n c e 1 R e s is ta n c e 2 T re n d
SEN SEX 18290 18525 18860 19145 19300 R ang ebo und
N IF TY 5580 5605 5655 5710 5760 R ang ebo und

Index Support 2 Support 1 Previous Close Resistance 1 Resistance 2 Trend

BANK NIFTY 10180 10330 10461 10720 10880 Rangebound
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Morning Notes
make more, for sure.

NAME DESIGNATION E-MAIL

Varun Gupta Head - Research [email protected]
Pashupati Nath Jha Research Analyst [email protected]
Vikram Singh Research Analyst [email protected]

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