RELIANCE ON CHART

Prices have consolidated earlier, for a long time within a Bullish Pattern, Symmetrical Triangle & have given a breakout {last month’s closing was above such breakout zone of 820}. Prices have given a breakout above another bullish pattern, Inverted Head & Shoulder Pattern with Neckline breakout point above 882 level & Upward target of 215 points, from such neckline level. Script have already made high of 955 levels {decent return}, now due for correction. SO enter on retracements.
BUY on retracements when fills GAP near 903 level with Stop below its previous Support zone,
mentioned. Book Profit near resistance zones.
CMP – 920.
RESISTANCE – 926, 934, 938 SUPPORT – 903, 894, 885

BHARTIARTL WITH CHART

Prices in the previous week have given breakout above the Neckline level of Inverted Head & Shoulder Pattern with Upward target of more than 100points from such level. In the current week prices have taken support of such neckline level & have risen Up. Now enter on retracements near support levels.
BUY on retracements, near Support Levels mentioned below. Use Stop below its previous Support zones. Book
Profit near resistance zones mentioned, below.
CMP – 357.
RESISTANCE – 359, 363, 384     SUPPORT – 352, 348, 345

TECHNICAL CURRENCY VIEW

Currency Headlines
Yen Gains From 2 1/2-Year Low as Stocks Drop
The yen strengthened from its weakest level against the dollar since June 2010 as Bank of Japan (8301) officials started a two-day policy meeting.

Japan’s currency has declined 5.9 percent versus the greenback in the past month on speculation the BOJ, under pressure from the government of new Prime Minister Shinzo Abe, will boost stimulus to lift the economy out of recession. Technical indicators signaled the yen’s drop may have been overdone and data showed traders became the least bearish on the currency in eight weeks. The Swiss franc advanced versus all but one of its 16 major peers.

“It’s hard to see what the BOJ could say tomorrow that would exceed market expectations,” said Daragh Maher, a currency strategist at HSBC Holdings Plc in London. “It’s a natural positioning ahead of the Bank of Japan’s meeting given the yen decline.”
The yen appreciated 0.7 percent to 89.51 per dollar at 6:43 a.m. New York time after depreciating to 90.25, the weakest since June 23, 2010. Japan’s currency gained 0.8 percent to 119.07 per euro. The dollar was little changed at $1.3302 per euro and the franc advanced 0.4 percent to 1.2398 per euro.

Pound Little Changed Versus Dollar as House Prices Rise
The pound snapped a three-day decline versus the euro after a report showed U.K. house prices rose for the first time in three months in January.
Sterling was little changed against the dollar, halting a six-day slide, before a report this week that analysts said will show the U.K. economy contracted in the fourth quarter of last year, tipping it back toward recession. Rightmove Plc said asking prices advanced 0.2 percent this month after dropping 3.3 percent in December. Gilts fell before the Debt Management Office sells 1.75 billion pounds ($2.8 billion) of 4 percent bonds due 2022 tomorrow.

“We’re seeing a bit of respite for the pound today,” said Melinda Burgess, a currency strategist at Royal Bank of Scotland Group Plc in London. “Although we still see weak fundamentals for sterling, we do think it will perform slightly better than the euro.”
The pound rose 0.1 percent to 83.83 pence per euro at 10:09 a.m. London time, after falling to 84.07 pence, the weakest since March 13. Sterling traded at $1.5882 after dropping to $1.5838, the lowest since Nov. 16.

TECHNICAL INSIGHT
USD INR (Jan 13 – Expiry)
The pair witnesses selling pressure on rise. Thus it is prudent to Sell on Rise.
Sell 54.02 SL 54.20 TGT 53.88/53.55

EUR INR (Jan 13– Expiry)
EURUSD has shown early signs of weakness. Given weakness in USDINR, EURINR can also be Sold on rise.
Sell 71.98 SL 72.12 TGT 71.7/71.4

GBP INR (Jan 13 – Expiry)
GBPINR is in weak trend. Let the initial dust get settle, then initiate any trade.

JPY INR (Jan 13 – Expiry)
JPYINR remains the weakest of 4 pairs. But given the very High “Beta” and it has gap Up OR Gap Down opening. Its moves are directly impacted by USDINR trend

TECHNICAL VIEW

TECHNICAL  VIEW

USD INR (Jan 13 – Expiry)
Buy USDINR @53.70 target 53.85/95/98/54.01 sl 53.65
The down move has been very sharp. The trend remains weak. But the chances are of "Gap Up" OR "Gap Down" openings.
We are not recommending any trade Pre-Open for today due to very high volatility expectations, when market opens.

EUR INR (Jan 13– Expiry)
EURUSD seems in strong uptrend. However, the bearish sentiments in USDINR will impact EURINR also.
Positions can be taken, once USDINR settles for a trend after 1st hour of trade.

GBP INR (Jan 13 – Expiry)
GBPINR is in weak trend. Let the initial dust get settle, then initiate any trade.

JPY INR (Jan 13 – Expiry)
JPYINR remains the weakest of 4 pairs. But given the very High “Beta” and it has gap Up OR Gap Down opening. Its moves are directly impacted by USDINR trend

ITC Ltd news

KOLKATA: Cigarettes-to-hotels conglomerate ITC LtdBSE 0.67 % said third-quarter net profit jumped 20.6 per cent year-on-year to Rs 2,051.85 crore on the back of strong growth in its FMCG and agricultural businesses.

ITC said on Friday net sales for the quarter-ended December rose 23.1 per cent from a year ago to Rs 7,627.07 crore. Net sales from its FMCG business grew 30 per cent while revenue from its agri-business was up 43 per cent.

Investors cheered the news, pushing ITC's shares up to Rs 289.7 in intra-day trade on the Bombay Stock Exchange on Friday. The scrip closed 0.67 per cent higher at Rs 287.05.

"The FMCG business and agribusiness is going to drive ITC's growth next quarter as well, since we do not expect any significant improvement in the cigarette business volume or the hotel business," said Kaustubh Pawaskar, research analyst
Revenue of the company's flagship cigarette business grew by more than 13 per cent to Rs 3,657.36 crore, despite a steep hike in taxation, which has led to 10-17 per cent increase in cigarette prices over the last two quarters.

In volume terms, ITC's cigarette business grew by 1.25 per cent, according to Religare Institutional Research.

Sharekhan's Pawaskar attributed the growth in revenue from the cigarette segment to the price hike and ruled out any significant jump in volumes in the next quarter.

ITC said its sub-65 mm cigarettes, launched to fight illegal trade and offer an entry-level pricing, has received favorable response and the company is now planning a nationwide rollout.

Net sales of the company's noncigarette FMCG business, which comprises packaged food and personal-care products, grew 30 per cent to Rs 1,782.70 crore. The segment reduced losses by 50 per cent to Rs 23.98 crore during the quarter.

ITC said sales growth of its packaged food business was led by its biscuit brand Sunfeast, Sunfeast Yippee! noodles and Bingo! range of snacks.

In personal care, the company strengthened its presence in soaps with a premium range and also launched newer products in the deodorants, body lotion, hand moisturiser and skin toner segments.

However, ITC's hotel business failed to make a significant recovery during the quarter. The company attributed this to the continuing weakness in the domestic and global economy and a significant addition of rooms in several markets.

Sales in this segment grew 11 per cent to Rs 309.46 crore, while profitability was down 45 per cent to Rs 55.49 crore.

Relaince Industries news--> 19 jan 2013

                                     



                                                                                                                                                                                              
India's largest company by market value Reliance IndustriesBSE 1.05 % could well see renewed interest from investors soon after a sustained period when the stock was languishing after the company cut back on its gas production and analysts were skeptical about its earnings growth. Its results for the quarter to December 2012 exceeded analysts expectations by a wide margin, powered by its refining business .
At Rs 5,502 crore, RIL's net profit in the third quarter was its third-best ever. That, too, when there has been an overall weakness in refining margins for the December quarter. RILBSE 1.05 % went on to post its highest-ever profits from this segment at Rs 3,615 crore. The gross refining margin was an impressive $9.6 per barrel. This not only bettered its year-ago number of $6.8, which was on expected lines, but also beat its September 2012 quarter number of $9.5, when most analysts had pegged their forecasts between $8.5 and $9 for the quarter.
In comparison, the performance of its two other major segments — petrochemicals and oil and gas — were dismal, just in line with market expectations. The petrochemicals segment faced margin pressure and posted a lower profit of 10% inspite of a 11% spurt in revenues. But the declining natural gas production from KG-D 6 led to a 32% drop in revenues and 54% drop in profits from the oil and gas segment.
The quarter was also marked by a reduced importance of other income in the overall profit of the company. From an average of 33% of pre-tax profits in the April-September 2012 period, the proportion of other income has dropped to 25%. A reduced tax provisioning at 19.7% of pre-tax profit compared to 22.6% in the year-ago period also contributed to the stellar performance.
RIL was also debt-free at end December 2012, with cash of . 80,962 crore, way higher than its Rs 72,266-crore debt. This despite using Rs 3,085 crore of cash for its share buyback programme. Analysts are not certain if this performance can be sustained.
For RIL's investors, the 24% y-o-y jump in net profit is a welcome breather after a fall in profits for the last four consecutive quarters. The December quarter show may well be the trigger for renewed investor interest in the company.

currency call update of 18 jan 2013

our currency usd sell call given @54.03 made low of 53.8225
20++ paisa profit  in intraday only

&

EURO sell call all target done, call given @72.23 made low 71.85
38++ paisa profit in intraday only


Total profit 58 paisa .

Example : If trade in only 10 lots in both USDINR & EURO  =>

USDINR => 10 lot *20 paisa =Rs. 2000 /-
EUROINR => 10 lot *38 paisa = Rs. 3800/-

                                                         TOTAL PROFIT =2000+3800 
                                                                                        =RS. 5800/-

TECHNICAL CURRENCY VIEW FOR INTRADAY

TECHNICAL Impact
USD INR (JAN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 54.0300 with a SL 54.1700 possible targets of 53.6700/53.5500/53.4300.

EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.2325 with a SL 72.3300 possible targets of 72.1200/72.1025/71.9200.
OR
Buy above 72.3300 with a SL 72.2325 possible targets of 72.4325/72.5700/72.7000.

Currency Headlines
Yen is gathering momentum before BOJ meet.
Yen is gathering momentum for an either side movement before Bank of Japan meet which might come up with strict reform to support their tumbling economy. One-week implied volatility on the dollar-yen rate, derived from option premiums, reached 16.9 percent, the highest since August 2011. It jumped 26 basis points to 16.54 percent. The yen touched 90.21 per dollar, the weakest since June 23, 2010, before trading at 89.93, 0.1 percent below the close yesterday. It sank as much as 0.4 percent to 120.71 per euro, the lowest since May 4, 2011. The European currency was at $1.3381 after climbing 0.7 percent to $1.3376.

Nifty view today-->18 jan 2013

Among Nifty options data of Jan series, maximum buildup among call strikes is witnessed at 6200 levels, which may act as resistance.
Nifty Jan 6000 Put strike witnessed short build-up.
Among Nifty Jan series options, short covering witnessed in 6000 & 6100 Call strike, while put writing is witnessed at 5800 strike.
Technology sector was up by 1.8% as stocks HCLTECH, INFY, TECHM & WIPRO witnessed long build-up.
Oil & Gas sector was up by 2.1%, long build-up witnessed in BPCL, HINDPETRO, IOC, ONGC & RELIANCE.
Automobile, Cement, Oil & Gas, Technology and Telecom sector witnessed maximum OI action.

Currency Headlines--->18 jan 2013

Currency Headlines
Euro Advances as Spain Sells Government Bonds While Yen Weakens
The euro advanced toward a 10-month high against the dollar as Spain’s borrowing costs fell at a 4.5 billion-euro ($6 billion) sale of bonds, underscoring demand for the region’s higher-yielding assets.

Europe’s shared currency climbed against all 16 of its major peers amid signs investors are returning to markets they deserted in 2012, with foreign investors buying more than 60 percent of the debt Italy sold two days ago. The yen fell after Economy Minister Akira Amari said his comments earlier this week that excessive weakening of the yen was harmful had been misinterpreted.

The euro appreciated 1.7 percent to 119.48 yen. Japan’s currency declined 1.1 percent to 89.36 per dollar.
Spain sold 2.409 billion euros of 3.75 percent 2015 notes at an average yield of 2.713 percent, down from 3.358 percent at the previous sale in December. It also auctioned securities maturing in 2018 and 2041 at lower yields.

Pound Falls to Nine-Month Low Versus Euro on Economic Outlook
The pound weakened to a nine-month low against the euro as investors favored assets in the 17- member currency region, betting the struggling U.K. economy will weigh on sterling.
Gilts fell for the first time in five days as the Debt Management Office sold 1 billion pounds ($1.6 billion) of inflation-linked securities maturing in 2029. The yield on U.K. 10-year index-linked gilts climbed from a record low. Bank of England policy makers held their target for bond purchases at 375 billion pounds last week. The central bank will publish new forecasts for growth and inflation next month that will inform their February decision.

Sterling depreciated 0.5 percent to 83.41 pence per euro at 11:44 a.m. London time, after reaching 83.46 pence, the weakest since April 3. The pound rose 0.2 percent to $1.6032, after dropping to $1.5976 yesterday, the least since Nov. 28.
The 10-year gilt yield climbed four basis points, or 0.04 percentage point, to 2.04 percent after falling to 1.98 percent yesterday, the lowest level since Jan. 3. The 1.75 percent securities maturing in September 2022 dropped 0.35, or 3.50 pounds per 1,000-pound face amount, to 97.485.

TECHNICAL INSIGHT
USD INR (Jan 13 – Expiry)
USDINR has shown weakness, as the pair broke 54.55 support. Though at lower level below 54.30, buying was seen. 17 Jan low of 54.26, is crucial support.
Sell near 54.85 SL 55 TGT 54.65/54.45/54.30 OR Buy near 54.30 SL 54.15 TGT 54.45/54.65/54.85

EUR INR (Jan 13– Expiry)
EURUSD seems in strong uptrend. However, the pressure of USDINR is seen on EURINR.
Sell near 72.98 SL 73.15 TGT 72.72/72.41 OR Buy near 72.28 SL 72.09 TGT 72.52/72.86/72.98

GBP INR (Jan 13 – Expiry)
GBPINR saw sharp slide. Though, some recovery was seen from lower levels. It remains under performer, among Western currencies.
Sell near 87.55 SL 87.70 TGT 87.25/87.02/86.75

JPY INR (Jan 13 – Expiry)
JPYINR remains the weakest of 4 pairs. But given the very High “Beta” and it has gap Up OR Gap Down opening.