Daily Market Outlook View & Report as on :- 12 March 2010

It was another dull and flat day that ended mildly  positive in the last

minutes of trade. All this market action on very low volumes. Sensex shut

shop at 17167, up 69 points and Nifty is at 5133, up 17 points from the

previous close. CNX Midcap index was down 0.29% and BSE Smallcap

index was down 0.50%. The market breadth was negative with advances at

430 against declines of 854 on the NSE. Top Nifty gainers ABB, Sun Pharma

and GAIL while losers were HUL, Idea and Power Grid.  

Tomorrow is expected to be a crucial trading day as

IIP figures will be announced.

Nifty (5133): Nifty Crucial Support is at 5105 and stiff resistance at 5150.

Nifty trading range is 5090-5150. On the daily chart, the Nifty is trading

above its 20 daily moving average (DMA) and 40 daily exponential moving

average (DEMA) pegged at 4934 and 4971 respectively, which are its near-

term supports. The momentum indicator (KST) has given positive crossover

and is trading above the zero line.

Sensex (17167):  The crucial support on the Sensex on the downside is

17000 and resistance at 17200-17250.

Stock Watch: BRFL, BATAINDIA, Satyam

Market GupShup:

•  Patni Computer gains as it gets set to open a new IT delivery centre

in Queretaro, Mexico

•   Simplex Projects surges on bagging order worth Rs 40 crore

•   Suprajit Engineering touches the roof on fixing record date for stock

split

•   Bharti Airtel advances on foraying into media and entertainment

•   India Infoline rises on its arm getting nod for Singapore Exchange

memberships

Buy AIAENG above 369-372 

Target 388/392

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