Market Updates on 13 july 2011

SUN TV NETWORK ANNOUNCED ITS NEW CEO………..

Sun TV Network Ltd declared K Vijay Kumar as it’s new CEO. K Vijay Kumar the COO of the Company had been promoted  to the post of Chief Executive Office. New CEO will handle the work from 12th july 2011.

US MARKET WENT DOWN ON TUESDAY..

US market on Tuesday closed in red as the weak global market. Moody's has downgraded the Ireland's ranking to the junk rating after the Portugal DLF Ltd may get the HCL support. According to a report HCL Group may pay Rs4.5 bn for a 74% stake in DLF’s insurance venture DLF Pramerica Life Insurance Co.

Maruti Suzuki has denied Suzuki motors stake rising news….

Maruti Suzuki India Ltd. Chief Financial Officer Ajay Seth has denied reports of parent Suzuki Motor Corp. raising its stake in the Indian unit.

China’s number supported the market….

China's annual gross domestic product growth alleviated to 9.5 in the second quarter of 2011 from 9.7% in the previous quarter, but it was better than the expected 9.4%. Industrial output for the second quarter rose 15.1% in June from a year earlier. This news supported the Asian market heavily and the Asian market seen trading firm.

stock to watch for tomorrow 13 july 2011

buy wockhardt above 430 tg 434,439 stop loss 424.45

Capital Stars: sell indian bank below 207 tg 204.50,201 stop loss 210.45

Capital Stars: sell iob below 138 tg 136.50,134 stop loss 140.25

Bank nifty futures : 13 July 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10805 to 11270. Bank nifty futures can go down till the level of 10805 once it breaks the level of 10900. On the opposite side once breaking the level of 11125, it is expected to go upward till the level of 11270. Bank nifty will be trading between the narrow range of 10900 to 11125

Nifty spot level : 13 july 11

Market was down due to the weak global market. Us market went down badly on Monday and European market is also trading in red as investors again started to worry about the worsening debt crisis.

Tomorrow nifty is expected to trade between the strong levels of 5410 to 5600. If the market breaches the level of 5555on the upper side then the next resistance level will be 5600. But if nifty breaches the support level of 5480 then it may go down till the level of 5410. Nifty tomorrow is strongly expected to trade between the narrow range of 5480 to 5555.