Market Outlook India Research June 13, 2011: Angel Broking,

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Dealer’s Diary
The market slipped into the red after turning positive for a brief period after a
subdued start. The Sensex trimmed losses after hitting fresh intraday low in
morning trade. However, the key benchmark indices soon extended losses to hit
fresh intraday lows in mid-morning trade after the latest data showed a
slowdown in industrial production growth in April 2011. The market trimmed
losses in early afternoon trade and traded range-bound in afternoon trade. The
markets witnessed a steep fall in mid-afternoon trade to hit a two week low. The
markets then trimmed losses in late afternoon trade. The Sensex and Nifty
closed with marginal losses of 0.6% each. The Mid-cap index lost 0.3% while
small-cap index closed with losses of 0.5%. Among the front runners, Maruti
Suzuki, Hindalco Industries, ONGC and TCS gained 0–1% while DLF, ITC, L&T,
Reliance Infra and Tata Steel lost 1–2%. Among mid-caps, Fresenius Kabi,
Shoppers Stop, Pantaloon Retail, Trent and Hindustan Const gained 5-14%
while, Indian Metals, Sterling Intl, Monsanto India, KGN Industries and
Educomp Solutions lost 3-6%.
Markets Today
The trend deciding level for the day is 18,283/5,488 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,384–18,500/5,519–5,552 levels. However, if NIFTY
trades below 18,283/5,488 levels for the first half-an-hour of trade then it may
correct up to 18,168–18,067/5,455–5,424 levels