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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Stock prices dropped 3rd day in succession. All these drops shows typical Doji pattern where opening &
closing is almost at same level indicating indecisiveness on the part of market participants. There is lot of
selling on rise but market is absorbing the same & is in no mood to move down substantially from the
current level during last 3 sessions. The trading volume in F&O rose sharply yesterday on short covering.
Nifty April futures closed at a 13-point premium to spot mainly due to short covering from bears. May
futures added 89 lakh shares in OI & closed at 5911, a 30-point premium to April futures. April series will
be expiring to-morrow & this will cause volatility. Individual stock prices will continue to react to result
announcements. The upcoming RBI's monetary policy next week will also decide future course. Nifty Spot
closed down 6 point at 5868. Nifty has been consolidating between 5700 & 5900 & is currently up less
than 1% from March expiry. FIIs have been sellers of around Rs 3150 Cr in April Nifty futures. Rollover of
positions picked up yesterday & cost has been good at around 30 points & it indicates a bullish bias. Nifty
has strong support around 5750 where the 200-DMA is positioned. If it continues to trade above 200
DMA (5741) breakout higher to 6061 or 6289 is possible in the medium-term. This positive medium-term
view will be no more valid on a close below 5700. Subsequent supports are 5650 & 5580. In the shortterm
it face resistance from the zone around 5900-5960 & inability to surpass this can pull it down to
5850, 5800 or 5700. Target above 5960 is 6061. Overall, 5900 proved to a strong resistance as it failed to
close above it so far. HCL Tech, Bharti & L&T are likely to go up. Market is likely to open in Green but will
be volatile. We have a bullish bias on the market. Trade with caution.
Surging food prices could push millions of
people in Asia into extreme poverty &
threaten the durability of the region's worldleading
economic recovery, the Asian Development
Bank (ADB) said yesterday.
Domestic food price inflation in developing
Asia averaged about 10% in the first 2
months of 2011, while international prices
were up more than 30% in annual terms,
the Manila-based ADB said in a report. A
sustained 10% rise in domestic food prices
could push an additional 64 million people -
- or nearly 2% of Asia's 3.3 billion people --
below the poverty line of $1.25 a day. "Fast
& persistent increases in the cost of many
Asian food staples since the middle of last
year, coupled with crude oil reaching a 31-
month high in March, are a serious setback
for the region which has rebounded rapidly
and strongly from the global economic
crisis," the ADB report said. Food and fuel
prices have added to price pressures in
Asian economies, and earlier this month the
ADB said some emerging economies were
showing signs of overheating. The ADB
said if a 30% increase in global food prices
persisted in 2011, growth in some foodimporting
countries could be cut by up to
0.6 percentage points. It also said if the
level of oil and food price increases seen
early this year continues, growth in developing
Asia in 2011 "could be reduced by up
to 1.5 percentage points." "Food prices
have become highly volatile, and the Asian
food system's vulnerability to price shocks
and natural calamities has increased significantly,"
the report said. While countries had
taken short-term measures such as cuts in
import duties or sales taxes, subsidies & aid
programs, the ADB said the frequency of
food price shocks highlighted the need for
long-term solutions such as more investment
& higher agricultural productivity to
secure food supplies.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Stock prices dropped 3rd day in succession. All these drops shows typical Doji pattern where opening &
closing is almost at same level indicating indecisiveness on the part of market participants. There is lot of
selling on rise but market is absorbing the same & is in no mood to move down substantially from the
current level during last 3 sessions. The trading volume in F&O rose sharply yesterday on short covering.
Nifty April futures closed at a 13-point premium to spot mainly due to short covering from bears. May
futures added 89 lakh shares in OI & closed at 5911, a 30-point premium to April futures. April series will
be expiring to-morrow & this will cause volatility. Individual stock prices will continue to react to result
announcements. The upcoming RBI's monetary policy next week will also decide future course. Nifty Spot
closed down 6 point at 5868. Nifty has been consolidating between 5700 & 5900 & is currently up less
than 1% from March expiry. FIIs have been sellers of around Rs 3150 Cr in April Nifty futures. Rollover of
positions picked up yesterday & cost has been good at around 30 points & it indicates a bullish bias. Nifty
has strong support around 5750 where the 200-DMA is positioned. If it continues to trade above 200
DMA (5741) breakout higher to 6061 or 6289 is possible in the medium-term. This positive medium-term
view will be no more valid on a close below 5700. Subsequent supports are 5650 & 5580. In the shortterm
it face resistance from the zone around 5900-5960 & inability to surpass this can pull it down to
5850, 5800 or 5700. Target above 5960 is 6061. Overall, 5900 proved to a strong resistance as it failed to
close above it so far. HCL Tech, Bharti & L&T are likely to go up. Market is likely to open in Green but will
be volatile. We have a bullish bias on the market. Trade with caution.
Surging food prices could push millions of
people in Asia into extreme poverty &
threaten the durability of the region's worldleading
economic recovery, the Asian Development
Bank (ADB) said yesterday.
Domestic food price inflation in developing
Asia averaged about 10% in the first 2
months of 2011, while international prices
were up more than 30% in annual terms,
the Manila-based ADB said in a report. A
sustained 10% rise in domestic food prices
could push an additional 64 million people -
- or nearly 2% of Asia's 3.3 billion people --
below the poverty line of $1.25 a day. "Fast
& persistent increases in the cost of many
Asian food staples since the middle of last
year, coupled with crude oil reaching a 31-
month high in March, are a serious setback
for the region which has rebounded rapidly
and strongly from the global economic
crisis," the ADB report said. Food and fuel
prices have added to price pressures in
Asian economies, and earlier this month the
ADB said some emerging economies were
showing signs of overheating. The ADB
said if a 30% increase in global food prices
persisted in 2011, growth in some foodimporting
countries could be cut by up to
0.6 percentage points. It also said if the
level of oil and food price increases seen
early this year continues, growth in developing
Asia in 2011 "could be reduced by up
to 1.5 percentage points." "Food prices
have become highly volatile, and the Asian
food system's vulnerability to price shocks
and natural calamities has increased significantly,"
the report said. While countries had
taken short-term measures such as cuts in
import duties or sales taxes, subsidies & aid
programs, the ADB said the frequency of
food price shocks highlighted the need for
long-term solutions such as more investment
& higher agricultural productivity to
secure food supplies.
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