The Indian market fell sharply during the day on selling pressure triggered as world stocks touched 2 and half months low on fear of further leakages from Japan’s nuclear plants. Technically Indian share market is undergoing a sideways mode of trading with stiff resistance being seen at 5530-5670 and strong support exists at 5300. Now the next trigger will come in form of the news on advance tax payments by companies and the outcome of RBI's monetary policy review meeting on 17 Mar where we are expecting another round of 25 basis points hike and thus to make money one can trade in sure call every day and be a sure winner in the market irrespective of the prevailing trend in the market. Japanese disaster may not have very high impact on Indian market as India-Japan bilateral trade is meagre $10 billion in 2009-10 while imports from Japan accounted for only 2% of India’s total imports. However read the full story to know the real risk to Indian industry.
Due to Japan crisis, we may see sector- or company-specific impact on Indian companies like Maruti Suzuki fell 5 percent on fear of rising Yen as Yen surged after reports of rising radiation near Tokyo. Moreover Maruti Suzuki India Ltd. sources 25% of auto parts from Japan and a prolonged disruption in supplies could lead to a parts shortage. Another sector where some pain may be felt is Capital goods companies which may face delays in the import of equipment from Japan.
On the sunny side where every difficulty presents an opportunity we may see Indian steel companies could see increased demand to fill the gap in view of Japan re-building process. However we should be equally ready if Japan based funds undertake redemption to meet their home demands and thus one can not be away from the reality and we should be ready for the eventuality as these funds will like to see in liquid markets such as India to meet redemption pressures at home. Reports said the Bank of Japan has injected another 8 trillion yen to insulate markets from the devastating impact of the massive earthquake and tsunami that struck the north-eastern part of the island nation last week.
Back home Sensex closed at 18167, down 271 points from its previous close, and Nifty shut shop at 5449, down 81 points. The market breadth was negative with advances at 216 against declines of 1090 on the NSE.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5300 | 5530-5620 |
| Sensex | 17735 | 18500-18752 |
| Stock | Profit (Rs) |
| Tip | 1630 (Rs 50,000 Trading) |
| Share | Gains (Rs) |
| Tips | 31870 |
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 47860 |
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Strong future shares at National stock exchange
Chennai Petro, MRF, Concor, Apollo Tyre, Central bank
Weak future stocks at NSE
Petronet, IGL, BEML, Voltas, Mcleod Russell, Escorts, Dish TV, Jet Airways
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