RIL Q1 net slumps 21 per cent
Reliance Industries' quarterly net profit fell 21% as
natural gas output dropped and the slowdown in Europe
and China squeezed refining margins, but earnings beat
market expectations and the company signaled that the
numbers would bounce back as new investments in
Jamnagar bear fruit.
Rupee falls on global risk aversion; policy
The partially convertible rupee closed at 55.32/33 per
dollar, as per the SBI closing rate, weaker than its close
of 55.12/13 on Thursday. The local currency fell 0.3
23RD JULY 2012
percent during the week.
HSBC raises Jet rating to overweight; target
price Rs 550/share
HSBC has raised its rating on Jet Airways to overweight
from neutral citing strong earnings recovery led by
Nifty down at 5216.25.
robust operating performance and upward fare revisions
as the reason.
Bank Nifty down 108 pts
Microsoft reports first quarterly loss since
Microsoft Corp reported its first quarterly loss as a public
company on Thursday as it took a previously
announced hit for writing down the value of its ailing
online unit, but held up better than expected in the face
of stagnant computer sales.
Technically the market has shown signs of weakness. There is some loss of momentum and so it is logical to presume that
the market is going downwards. The close price is close to 200 mark and we expect a resistance of 5350 in the week to
From a trading point of v iew we would trade the short side of the market as long as 5050 holds as 5050 is a crucial
support to work with.
NIFTY WEEKLY PIVOTS
NIFTY BANK NIFTY
Nifty looks bearish Bank Nifty looks bearish
Strategy: Sell on rise. Strategy: Sell on rise
Support: 5100 Support: 10487
Resistance: 5330 Resistance: 10930
NIFTY WEELY PIVOTS
NIFTY WEEKLY CHART
WEEKLY BANK NIFTY CHART
GAINERS AND LOOSERS
WEEKLY NIFTY GAINERS
WEEKLY NIFTY LOOSERS
PR. CLOS E
Bank of Baroda
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