MARKET SUMMARY FOR 12 JUNE 2015

Nifty remained below 8000, Sensex was up 64 points at 26435, whereas the Nifty up 19 points, or 0.3 per cent, at 7,985 and made a low of 7932.and bank nifty up 1.3 percent at 17502 and made a low of 17140. Today metal, realty, healthcare, auto, and capital goods leading the fall and Banking & financials, select auto and oil stocks led the market higher while the selling in IT and FMCG stocks capped the upside. After day’s consolidation, the market ended with marginal gains. The 30-share was up 54 points at 26425 and the 50-share gained 17 points at 7982. Nifty edged higher in a choppy session on Friday, while still on course for a third consecutive weekly decline, as gains in Reliance Industries after its annual shareholder meeting, overpowered falls in IT exporters for the day.

Monsoon is clearly causing disappointments but the fact remains despite a few rate cuts since the beginning of the year, credit growth has not responded and is languishing below 10 percent. In addition,

the RBI commentary suggests there aren't going to be further cuts. Fear has gripped the Indian market and traders are exiting long positions as their hopes of a faster economic recovery have got dashed amid weak corporate earnings, and prospects of sub-par monsoon. The breaching of 8,000 support on the Nifty is making bears more confident of further declines in the coming days. The Sensex was down over 60 points in early trade today as investors started scaling down their positions ahead of IIP and inflation data to be released later in the day amid sustained capital outflows.Near-2%-fall of the Nifty has thoroughly negated the prior day’s rally. However, one last citadel for the bulls still remains - it is the potentially strong support zone between 7956 and 7935 - this range held out in the last session but the moot point is that would it act as a floor for the market or even it would also give in; over the next few weeks, we do expect much lower levels than the above support zone yet for today it needs to be watched very closely since it still is a very significant support area. In case, it gives way then even a level close to 7850 may come soon.

DAILY RESISTANCE FOR NIFTY: 8008, 8031,8092

PIVOT POINT: 7970

DAILY SUPPORT FOR NIFTY :  7947, 7909, 7848

WEEKLY RESISTANCE FOR NIFTY: 8093, 8227, 8433

PIVOT POINT: 8021

WEEKLY SUPPORT FOR NIFTY :  7887, 7815, 7609

 TOP GAINERS AND LOSERS ARE:

Sectors	Change %	Top Gainer/losers Company
Finance	1.9 %	H D F C
Capital Goods - Electrical Equipment	2.1 %	B H E L
Telecomm-Service	1.1 %	Bharti Airtel
Banks	2.6 %	ICICI Bank
Cement	1.8 %	UltraTech Cem.
Automobile	3.2 %	Bajaj Auto
Non Ferrous Metals	-1.9 %	Hindalco Inds.
IT - Software	-1.9 %	TCS
Mining & Mineral products	-1.7 %	NMDC
Infrastructure Developers & Operators	-0.3 %	Larsen & Toubro