S&P ends at record but off day's high on Ukraine worries

All three major indexes closed out the month with strong gains, however. The Dow scored its best monthly percentage gain since January 2013, while the S&P 500 had its best month since October.

The S&P 500 ended at another record close on Friday but well off the day's highs as worries about tensions in Ukraine caused investors to take profits ahead of the weekend. All three major indexes closed out the month with strong gains, however. The Dow scored its best monthly percentage gain since January 2013, while the S&P 500 had its best month since October. Early in the session, the S&P 500 hit an intraday record for a second time this week as consumer confidence and other data bucked the recent trend of weaker economic reports. But indexes turned negative after Ukraine's acting president accused Russia of open aggression and said Moscow was following a similar scenario to the one before it went to war with Georgia in 2008. "There's chatter about Russia's (involvement) in the Ukraine, and that's getting people all jittery," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "It's sell first, and ask questions later on a Friday afternoon. You don't know what's going to happen over the weekend, so people are going to lock in profits." The Nasdaq remained in negative territory for the session, and tech shares including Apple and Salesforce.com Inc were among the biggest drags on the S&P 500. The Dow Jones industrial average rose 49.06 points or 0.3 percent, to 16,321.71, while the S&P 500 gained 5.16 points or 0.28 percent, to 1,859.45, a record close. The S&P 500 hit an intraday record of 1,867.92. The Nasdaq Composite dropped 10.814 points or 0.25 percent, to 4,308.119. For the month, the Dow rose 4 percent, the S&P 500 gained 4.3 percent and the Nasdaq advanced 5 percent. For the week, the Dow was up 1.4 percent, the S&P 500 was up 1.3 percent and the Nasdaq was up 1 percent. Strong gains this week have come from retailers, with the S&P 500 retail index up 4.5 percent for the week following upbeat results from Home Depot and others. Federal Reserve Chair Janet Yellen bolstered the market on Thursday when she said harsh weather seems to be to behind recent US economic softness. Also helping the market was data showing consumer sentiment rose more than expected, while the Chicago Purchasing Managers Index was also ahead of expectations. However, the US government slashed its estimate for fourth-quarter economic growth. Among the day's top percentage gainers, Monster Beverage shares rose 5 percent to USD 74 a day after reporting results. Salesforce.com shares fell 5.8 percent to USD 62.37, a day after it raised its full-year revenue forecast but its profit forecast was largely below estimates. Other business software makers also fell, including Workday, down 4.8 percent at USD 109.92, and Netsuite, down 3.8 percent at USD 115.09. Advancers beat decliners on the NYSE by 1,818 to 1,186 while on the Nasdaq decliners beat advancers by 1,408 to 1,188. About 7.7 billion shares changed hands on U.S. exchanges, above the 7 billion average this month, according to data from BATS Global Markets.

Weekly wrap: Nifty, Sensex rise 2%; global cues to set near term mood

Equity benchmarks gained 2 percent during the week, mainly helped by benign newsflow in global markets even as many experts cautioned that US equities may have peaked out. Brokers say global cues will decide near term trend, and a sell-off in the US could spell bad news for emerging markets including India. US Fed chairperson Janet Yellen said the central bank was likely to keep trimming monthly bond purchases, even as macro data would be watched to check if recent weakness in the economy was temporary. The BSE Sensex ended the week at 21,120.12, up 419.37 points over last Friday, and the Nifty rose 121.50 points to 6,276.95. Capital goods shares were the star performers as investors appear to be anticipating a recovery in the capex cycle. The BSE Capital Goods index rose 5.3 percent, boosted by an 11.4 percent gain in BHEL shares. Third quarter GDP growth of 4.7 percent released post market hours Friday, however, was way short of the 5.2 percent growth that the Finance Minister had predicted for the December and March quarters, in his Interim Budget Speech last week. In key developments during the week, BJP leader Narendra Modi addressed industry captains at the India Economic Convention 2014 in New Delhi, assuring them of simpler laws and speedier decision making . But market experts said a NDA win was largely discounted by the market, though there could be poll-related volatility between now and till the results are out. The BSE Pharma and BSE Auto indices rose 4.5 percent and 3.5 percent respectively. But the surprise gainer was the CNX PSU Bank index, which rose 2.5 percent even as many experts see a crisis looming in the banking sector because of rising bad loans. The BSE Power index fell 1.3 percent, weighed down by a 15 percent decline in NTPC, which was also the worst Nifty loser for the week. The Central Electricity Regulatory Commission’s ruling last weekend is seen denting the company’s earnings prospects. Maruti shares fell 5 percent as the company’s latest clarifications over the transfer of the Gujarat plant to a Suzuki subsidiary spooked investors. Analysts now are worried that the deal will hurt Maruti’s operating margins. Metal share were mixed with Hindalco gaining 8 percent, and Tata Steel falling by a similar margin. Notable Nifty gainers included Dr Reddy’s Laboratories, Bank of Baroda, ONGC Tata Motorts, TCS, Lupin and Bajaj Auto - up 3-6 percent.

Q3 FY14 GDP at 4.7% vs 4.4% Y-o-Y

The Q3 growth is slightly higher by 0.2 percent on a year-on-year basis, but has shown a degrowth quarter-on quarter (4.7 percent versus 4.8).

The gross domestic product (GDP) for Q3 FY14 came in at 4.7 percent, up from its Q3 FY13 growth of 4.4 percent (YoY), but down from it previous quarter growth of 4.8 percent. A CNBC-TV18 poll had expected the growth to be around 4.8 percent. The Central Statistics Office (CSO) had estimated a growth of 4.9 percent. The agricultural sector grew at only 3.6% versus 4.6% quarter-on-quarter. The manufacturing growth saw a negative trend coming in at - 1.9% versus 1% quarter-on-quarter. The mining sector too reflected the slowdown growing by -1.6 percent versus -2 percent (YoY). Electricity, gas and water supply grew at 5 percent versus 7.7 percent Data services, meanwhile grew by 7.6 percent, up 1 percent on a year-on-year basis while trade, hotels, trans growth, that represent the unorganised sector, came in at 4.3 percent versus 5.9 percent (YoY). A GDP growth of 4.9 percent for FY13, as targeted by the CSO, now seems more and more unlikely.

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Nifty ends at 6200 ahead of Feb F&O expiry; Wipro soars 3%.

Shares of Wipro jumped 3 percent, touching 14-year high at Rs 595.15 per share as it bagged a 10-year IT and BPO contract from UK's Carillion. It was the top gainer.

Equity benchmarks gained for the third consecutive session on Tuesday with the support from technology, capital goods and HDFC group stocks. Though it was a volatile session ahead of expiry of February derivative contracts on Wednesday, the 50-share NSE benchmark Nifty closed at 6200-mark, up 14 points. The 30-share BSE Sensex climbed 41.03 points to 20852.47. The consistent upmove in the market was due to the fact that market is expecting a stable government at the Centre post the Lok Sabha elections and therefore, the flows are improving and overall sentiment is also looking up, Dipan Mehta, member, BSE and NSE said. He believes the market is discounting a favourable opinion poll (which came out over a weekend) and is expecting Narendra Modi-led NDA to form the government. Foreign institutional investors bought nearly Rs 3,000 crore worth of shares in the last eight consecutive sessions. Shares of Wipro jumped 3 percent, touching 14-year high at Rs 595.15 per share as it bagged a 10-year IT and BPO contract from UK's Carillion. It was the top gainer. Its rivals TCS and Infosys gained 0.5 percent and 0.8 percent, respectively. State-run capital goods major BHEL was up 2 percent on top of a 4 percent upmove in previous session while its rival Larsen & Toubro rose 0.6 percent. Telecom operator Bharti Airtel rebounded with 1.6 percent gains after falling more than 4 percent in previous two sessions on losing Nigerian court case. Shares of Bajaj Auto, Cipla and Hindalco Industries gained 1-2 percent. However, Tata Steel, Coal India, Tata Power and GAIL were down between 1.5-2 percent. NTPC shares slipped another 1 percent in addition to 11 percent fall in previous session on Central Electricity Regulatory Commission (CERC) final regulations for FY15-19 which provide no respite for it. The norms will fix tariffs for the power sector for the next five years. Sesa Sterlite dropped 2 percent after agencies report suggests that Directorate of Revenue Intelligence has conducted raids in company's office in Goa. ICICI Bank, Reliance Industries, State Bank of India, Dr Reddy’s Labs and Sun Pharma were under pressure with marginal loss.

Godrej Properties – Long term Buy. Bottoming Out

Godrej Properties Technical View:

• The stock has been in a downtrend for the last many months.
• Recently the stock has seen an increase in volumes and a falling wedge pattern being formed.
• A falling wedge pattern indicates a major long term trend change. Sustaining above 170 would be the confirmation of a breakout.
• Accumulate Godrej Properties at 155-160 with a stoploss of 145 and a target price of 200-250 in medium term.

BANK NIFTY WEEKLY STUDY

Now with the current chart we can see that bank nifty able to face resistance at upper level, and given a good fall last session.
Given a bearish gap down pattern on chart, this can indicate that market will still try to move more down side near to the support levels.
As per levels we can see support at 10600-700 range and resistance at 11250 ranges.
If market able to close below 10600 level for 2 trading session the good fall to see, but after taking support, bank nifty able to give green candle on chart then we can even hope for good recovery till resistance levels.
Calls for current weeks
Buy DABUR above 165 sl 159 target 170-175
Buy IPCA lab above 770 sl 750 target 790-815
Buy BHARTI INFRATEL above 176 sl 170 target 182-187
Sell CANBK below 247 sl 260 target 235-220
Sell PFC below 136 sl 150 target 120-100
Sell PNB below 580 sl 625 target 550-510
We can see many heavy weight scripts falling too like LT, RELIANCE, and ALL BANKING STOCK TOO.
Till the time we can see any support in this scripts one should avoid buying in a market. Wishing you Luck.