Morning Note

23 MAY 2012

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DATA MATRIX OF LAST SESSION

INDEX Sensex Nifty Midcap Smallcap Close 16026 4861 5854 6275 %Chg -0.97 -0.92 -0.59 -0.66

FIRST LIGHT HEADINGS

VALUE TRADED (Rs Crs)

BSE NSE F& O Total Total Volume 1855 9031 123622 134508

%Chg
220.38 15.59 26.20 26.48

MARKET INSIGHT
On Tuesday 22 May 2012, Back on the home turf, freefall of Indian currency acted as the main mood dampener for the Dalal Street. Selling pressure was evident in Indian equity markets by foreign funds after the rupee fell to record low levels to 55.39 per US dollar despite the Reserve Bank arbitrage measures to support the falling domestic currency. On the BSE sectoral chart, weakness was witnessed in 10 out of 13 sectoral pivotal, high beta Metal stocks combined with Banking and Power, prompted turbulent times for bourses. Auto stocks also lost ground as decline in rupee impacts their royalty payments and import cost. Top car maker Maruti Suzuki tumbled 4% while M&M, Hero Motocorp and Bajaj Auto were down 0.5-1%. However, Information Technology got blessing in disguise an rallied with rupee deprecation as software exporters derive lion share of their revenue in dollars. Additionally, Oil Marketing companies stocks such as BPCL, HPLC, Indian Oil gathered steam on building hopes of petrol price hike. Empowered group of ministers, led by finance minister Pranab Mukherjee, will meet after the end of the current session of Parliament and the UPA II's third anniversary on May 22, 2012, to consider fuel price hikes. The oil ministry is likely to propose an increase of Rs 3 per litre in the price of diesel and Rs 50 in domestic LPG cylinders, apart from recommending a cut down in the supply of LPG cylinders to higher income groups.

NET INFLOWS (Rs Crs)

FIIs DIIs (283.3) 207.6

%Chg
256.00 39.14

FII OPEN INTEREST (Crs)

FII Index Futures FII Index Options FII Stock Futures FII Stock Options 11824 43896 21871 1366

%Chg
-2.29 0.57 -0.58 -3.71

World Indices
Dow Jones Nasdaq FTSE 100 12503 2839 5403

%Chg
-0.01 -0.28 1.87

Commodity
Crude (US$/bl)

%Chg
91.2 1559.9 -1.51 -1.98

Gold (US$/oz) Top 5 Movers TCS HCLTECH TATAMOTORS CAIRN SAIL

Close Price
1,239.00 490 265.9 328.05 92.1

%Chg
2.46 2.2 1.55 1.33 1.21

The BSE Sensex lost 151.03 points or 0.93% and settled at 16,032.23.The index touched a high and a low of 16,366.72 and 16,000.84 respectively. Only 5 stocks advanced against 25 declining ones on the index (Provisional).The BSE Mid-cap index lost 0.51% while Small-cap index was down by 0.65%. On the BSE Sectoral front, IT up by 0.56%, TECk up by 0.22%, CD up by 0.21%, however Metal down by 1.71% Bankex down by 1.55%, Power down by 1.37%, Realty down by 1.21% and CG down by 1.14% were the top losers. (Provisional) India VIX, a gauge for market's short term expectation of volatility gained 1.96% at 24.39 from its previous close of 23.92 on Monday. The S&P CNX Nifty lost 45.55 points or 0.93% to settle at 4,860.50. The index touched high and low of 4,956.35 and 4,849.90 respectively.15 stocks advanced against 35 declining on the index. (Provisional) Sentiments remained bullish in the Asian region and all the Asian equity indices rallied on Tuesday ahead of European Union summit to be held on May 23, 2012. Hong Kong and China shares rose 0.62% and 1.06% respectively, supported by Chinese growth proxies on report that Beijing will fast-track investment approvals in infrastructure space to battle lethargic conditions in the world's second-largest economy. Moreover, Japanese Nikkei and South Korean KOSPI Composite surged 1.10% and 1.64% respectively to extend Monday's rebound.

Top 5 Loser
SESAGOA TATAPOWER MARUTI STER SUNPHARMA

Close Price
183.65 90.55 1,147.90 95.8 573.2

%Chg
-5.38 -5.33 -5.04 -4.01 -3.65

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Mansukh Securities and Finance Ltd

Morning Note
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MARKET OUTLOOK- CAUTIOUSLY OPTIMISTIC

TODAY'S MARKET LEVELS

Index
SENSEX NIFTY

Support 2
15660 4778

Support 1
15815 4812

Previous Close
16026 4861

Resistance 1
16366 4909

Resistance 2
16489 4966

Trend
Rangebound Rangebound

QUANTITATIVE ANALYSIS: Halting three sessions' gaining streak, Indian equity markets petered out early gains to the snap the volatile session with colossal loss of over a percentage point on Tuesday. Double whammy of faltering rupee and global risk off environment led boisterous bulls surrender fort. After starting the session on a promising note, barometer gauges went off offloading gains, to end the day in red. Intense selling pressure witnessed in the second half of the session took the markets into red, even though leads from European region remained positive. The 30 scrip sensitive index, after starting the session above the 16300 fortress, offloaded over hundred and fifty points, to end sub 16100 bastion. Similarly, the widely followed index, Nifty, after knocking off over fifty points, ended sub 4900 psychological level. . Conclusively we expect more downside in upcoming sessions however next level of support could be around 4810-4820. On the flip side any consolidation around 4950-5100 level may create some slight possibility of bounce back though any rally would be used to create fresh shorts.

Index
BANKNIFTY

Support 2
8636

Support 1
8832

Previous Close
9175

Resistance 1
9321

Resistance 2
9590

Trend
Rangebound
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Morning Note
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NAME
Varun Gupta Pashupati Nath Jha Vikram Singh

DESIGNATION
Head - Research Research Analyst Research Analyst

E-MAIL
varungupta@moneysukh.com pashupatinathjha@moneysukh.com vikram_research@moneysukh.com

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Website: www.moneysukh.com