CESC ON CHART

Earlier recommended in Report Dated 15.05.13 when Closing was 316 level, made High 341.
Prices had given clear breakout above the Neckline level of Inverted Head & Shoulder Pattern with
Neckline breakout point at 308, creating Upward target point of approximately 55points from such
neckline breakout point. Last four trading sessions prices managed to trade n close above this Neckline
level. Prices have retraced well & maintained the said support zone by closing. Now enter on
retracements
BUY on retracements till closing is above 331 level with Stop below its previous Support zone,
mentioned. Book Profit near resistance zones.
CMP – 336.
RESISTANCE – 342, 346, 356
SUPPORT – 331, 326, 321

CORP BANK WITH CHART

Prices have formed an Inverted Head & Shoulder Pattern with Neckline breakout point at 425 level,
creating an upward target of 50points. Closing is maintained above 200DMA level 410. Till closing above
it, looks Buy with strict Stops. Now enter on retracements.
BUY till trades & closes above 425 level with Stop below its previous Support zone, mentioned. Book
Profit near resistance zones.
CMP – 429.
RESISTANCE – 432, 437, 443
SUPPORT – 424, 418, 415

NIFTY VIEW

Today Nifty Future seems to be open around 6080 below

Suppose Today Nifty Future will cross 6113 level then it will cross over 6125-6140 level

Crucial Support  for today 6067-6053

Avoid long trading position .

Nifty futures opened negative and traded range bound for entire trading session, to finally close down by 0.40% at 6085.
Overall breadth is negative as there were 34 advances vs. 114 declines in F&O segment.
Nifty futures may trade range bound in short term. Nifty future supports lies at 6040. While resistance lies at 6130.
Among major sector indices, Banknifty futures closed down by 0.87% while Cnxit futures closed down by 0.87%. Among Nifty Heavyweight stocks, Tatamotors and Sunpharma witnessed long buildup.
Put Call Ratio (Volume) is at 1.07.
Volatility index closed at 17.86 up by 4.32%.
Among Nifty options data of May series, significant buildup among put strike is seen at 6000, which may act as support.
Among Nifty May series call options, 6100-6200 strikes witnessed OI buildup.
Among Nifty May put options, 5900-6000 strikes witnessed OI buildup.
Infrastructure sector closed down by 3.2%, losses were contributed by Gmrinfra, Irb and Ivrclinfra.
Metals sector stocks have witnessed selling. Major losses were witnessed in Hindzinc, Jindalstel, Jswsteel, Sail, Sesagoa, Ster and Tatasteel.
Automobile, Cement, Media, Pharma and Textile sector stocks witnessed maximum OI action.

CURRENCY VIEW

The yen strengthened against the dollar and the euro after Bank of Japan Governor Haruhiko Kuroda said a stable financial system is important as the central bank adds unprecedented stimulus to the economy.
Japan’s currency climbed against all but one of its 16 major peers as the nation’s Topix index of stocks rose a second day and benchmark 10-year bond yields climbed. Sweden’s krona advanced after a report showed the nation’s economy expanded more in the first quarter than analysts forecast. The Australian dollar fell to the weakest level versus its U.S. counterpart since October 2011 after the International Monetary Fund cut its growth forecast for China.
The Japanese currency appreciated 1.2 percent to 101.10 per dollar at 7:04 a.m. New York time. It was 0.4 percent stronger at 131.04 per euro. Europe’s shared currency gained 0.8 percent to $1.2960.
Japan’s Topix index gained 0.9 percent at the close of trading in Tokyo after climbing 1.2 percent yesterday.
The Bank of Japan in April pledged to double bond buying in an attempt to increase inflation to 2 percent and end 15 years of deflation. Board member Ryuzo Miyao said yesterday the central bank has taken all necessary steps for now.
Upward pressure on the yen may also be coming from an increase in Japanese bond yields, Sonja Marten, a currency strategist at DZ Bank AG in Frankfurt, wrote in a note to clients today.
The yield on Japan’s benchmark 10-year government bond rose three basis points today to 0.933 percent, the highest close since April 19, 2012.