Monthly Snap Snapshot – Nifty 50
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CONTENTS Latest Updates Technical Analysis • Moving average • Fibonacci Retracement • Pivot Point Daily & Weekly charts
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Latest Updates 5th Aug• Ranbaxy Laboratories has announced its second quarter results. The company's Q2 net profit was down 25% at Rs 243 crore versus Rs 326 crore. Its net sales were down 4.41% at Rs 2,055 crore versus Rs 2,150 crore
4Th Aug• ACC has reported a fall of 6% (YoY) in profits for the first quarter of CY11. During the period, consolidated profit after tax of the company declined to Rs 328 crore as against Rs 349.5 crore in the corresponding quarter last fiscal. Net sales jumped 17% to Rs 2,539 crore from Rs 2,167 crore year-on-year. EBITDA in the April-June quarter was Rs 547.5 crore versus Rs 551 crore in the year ago period.
3rd Aug• Bharti Airtel, country's largest telecom operator, has reported a fall of more than 13% (QoQ) in profits for first quarter of FY12. During the period, consolidated net profit of the company declined to Rs 1,215 crore as against Rs 1400.7 crore in the previous quarter. Consolidated net sales increased over 4% to Rs 16,975 crore from Rs 16,260 crore quarter-on-quarter.
2nd Aug• Grasim Industries has reported a sales turnover of Rs 1,043.94 crore and a profit
of
Rs
314.13
crore
for
the
quarter
ended
Jun
net
'11.
For the quarter ended Jun 2010 the sales turnover was Rs 964.47 crore and net profit was Rs 223.83 crore
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1st Aug• Federal Bank has reported its results for the quarter ended Jun '11. Interest earned for the quarter was Rs 1,244.71 crore and net profit was Rs 146.16 crore. For the quarter ended Jun 2010 the interest earned was Rs 951.79 crore and net profit was Rs 131.86 crore.
29th July • Ambuja Cements has reported a sales turnover of Rs 2,189.07 crore and a net profit of Rs 347.50 crore for the quarter ended Jun '11. The sales turnover was Rs 2,088.39 crore and net profit was Rs 391.21 crore.
• Shares of JSW Steel, Sesa Goa and NMDC crashed after the Karnataka Lokayukta indicted these companies for dubious practices in mining iron ore in the state.
28th July • Cigarettes to hotels major ITC beat analysts’ expectations as first quarter net profit rose 24.5% year-on-year to Rs 1,332.72 crore.
26th July • RBI raises repo rates by 50 basis points to 8% & reverse repo rate by 50 basis points to 7%.
25th July • Reliance Industries has reported a sales turnover of Rs 81,018.00 crore and a net profit of Rs 5,661.00 crore for the quarter ended Jun '11.
23rd July • Axis Bank’s first quarter (April-June) net profit surged 27% year-on-year to Rs 942 crore, beating analysts’ estimates by a wide margin. Net interest income, the
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difference between interest earned and interest paid—climbed 14% to Rs 1724.1 crore, driven by a healthy growth in the loan book.
21st July • Dr Reddy's Labs has reported a 21.5% fall in its first quarter. FY12 net profit came to be Rs 263 crore against Rs 335 crore in the previous quarter. As per IFRS Net sales too declined nearly 2% to Rs 1,978 crore from Rs 2,017 crore quarter-on-quarter.
• Hero Honda Motors' first quarter net profit rose 13.5% from a year ago to Rs 557.89 crore, boosted by strong growth in sales volumes. Revenue of India’s largest two-wheeler maker accelerated 32% year-on-year to Rs 5,683.33 crore.
19th July • HDFC bank’s first quarter (April-June) net profit rose more than 33% to Rs 1,085 crore, compared to the same period last year. Net interest income in the AprilJune period jumped 18.6% year-on-year to Rs 2,848 crore from Rs 2,401 crore a year back.
15th July• India's largest software services exporter Tata Consultancy Services (TCS) has reported net profit of Rs 2,380 crore in the quarter ended June 2011, which was better than expectations as against Rs 2,380.9 crore in previous quarter, as per International Financial Reporting Standards. However, earnings before interest and tax (EBIT) was down by 1.7% at Rs 2,826 crore from Rs 2,875.7 crore on quarter-on-quarter basis. EBIT margin grew at 26.2% - less as compared to 28.3% in previous quarter.
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TECHNICAL VIEW Moving averages Moving Averages
20 Day
50 Day
100 Day
200 Day
Daily Weekly
5524 5594
5512 5705
5591 5415
5662 4839
Fibonacci retracement levels (Weekly) SCRIPT
0.0%
23.6%
38.2%
50.0%
61.8%
100.0%
NIFTY
6338.50
4887.26
4438.97
3990.67
3436.03
2538.45
Weekly Pivot SCRIPT
R4
R3
R2
R1
P
S1
S2
S3
S4
Nifty
6601
6165
5729
5470
5293
5034
4857
4421
3985
Daily Pivot SCRIPT
R4
R3
R2
R1
P
S1
S2
S3
S4
Nifty
5525
5412
5299
5255
5186
5142
5073
4959
4846
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Daily & Weekly CChart of S&P Nifty Daily Analysis
On the daily chart of Nifty, In July Nifty followed its upward channel and took resistance resi of its resistance trendline line drawn from its peak and reversed to en end at 5211.25 past week. In the end, it has made a broader symmetrical triangle break out past week driven
by
negative tive
global
cues,
fears
of
U.S
economy
going
in
recession after its rating downgarded to AA+ by S&P S&P. European debt crisis played their part and dragged Nifty ifty to its lowest level since July 2010. In the coming month, If Nifty sust sustains the level of 5180 and trades above it for most part of the coming week then can see some pullback and ret retrace back to the level of 54005 5500 to test its long standing resistance line drawn from peak of 6338. 6338 The trading range for Nifty would be 5240 to 55 5500. On the other Side, If Nifty breaks break the level of 5150 and trades below it then ca can further correct to 4950 and then the trading range r for Nifty would be 5180 – 4950 for the coming month.
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Weekly Analysis
If we look at a broader chart of Nifty, we can see it is working quite well with retracement of its rally started from 2 2540 (March 2009) to its peak at 6338 (Nov ( 2010). Niftyy consolidated at the retracement level of 23.6% and has given a closing below this retracement, also, it has been taking support of its long standing support trendline drawn from troughs of July 2008 and has been giving closing above it for the past one year. Last week Nifty gave a closing before its crucial trendline and if in coming weeks it trades below it and gives a closing b below elow this trendline; then we can see further downside and it may test the retracement level of 38.2% % which comes around 4900. But, If Nifty sustains the level of 52 5200 in the coming week and manages man to give a closing above 5300,, then we can ssee ee a short term pullback rally to 5500 where it could resist its upward resistance line drawn from peak of 6338.
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