JAN MONTH LOSSERS DONT MISS THE LAST OPPORTUNITY.BECAUSE THIS WEEK MKT VERY IMPORTANT TRADING FEB 11 AND AFTER SO SUBSCRIBE NOW
Asian markets continued to plunge on Monday morning with Austrialia dropping 1.7% on the Central Bank warned of higher inflation, raising fears of increase in interest rates. Kospi, the South Korean stock exchange plummetted 3,6% while Singapore is currently trading down 1%. Japanese markets are closed today
Listing of Reliance Power is the major event, the market is looking for a direction from the last fortnight. Indian Markets are simply following global markets or at the behest of FII's, trying to build major short positions in the absence of coutner buying from MF's and domestic Institutions, with many preferring to sit on the sidelines. We believe Reliance Power to list at a premium of Rs.100 - Rs.130 and might go either way. It is definitely hard to pick the direction and with the kind of sentiment the market is witnessing the odds are in favour of bears but given the "Power" of Reliance it would be too early to take a call.
Midcap stocks are beaten down the most giving more and more opputunities for medium to long term investors. This market is definitely not a trader's paradise but a long term investors blessing in disguise.
As I always say technically the market has not given clear trend yet. So be careful at higher level.I don't mean to book profits at higher levels but keep trailing stop loss.
On the up move I see a immediate resistance at 5143 and 5175.. watch these levels.
Once we are able to successfully break and trade above for 5175 for few minutes we will be able to see 5380 - 5400 on screen.On the downside support is seen 5070 and 5020.5020 is consider to be good support. If this break then we could see 4900 on screen.We expect positive move then selling . Our strategy quick buying and quick selling.
STOCK IN NEWS - Indiabulls, Moser Baer, Essar group, Bank of India, SCI, Geojit, Gammon, Tata Motors and many more stocks hit the headlines today.
Tata Motors is likely to export Nano to Europe in 4 years.
Geojit Financial Services is likely to hive off commodities business in a bid to let BNP Paribas buy stake in financial firm.
World's Largest Manufacturer of Optical and Magnetic Storage Moser Baer is planning to invest $1.5 bn in solar power
Shipping Corporation of India (SCI) is planning to foraying into logistics space, to buy eight carriers.
Gammon Infrastructure, a subsidary of Gammon India Ltd has decided to proceed IPO despite of negative news flow from the primary market
PSU bank Bank of India is planning to acquire a overseas bank, to foray into insurance and Mutual funds.
Essar group is likely to foray into financial sector soon with interests in asset management to broking and insurance.
Promoters of Indiabulls Financial Services increased their stake from 20.32 percent to 27 percent from the open market
News Snippets:
The RBI is not in favour of the government subscribing to the SBI rights issue through bonds.
ONGC plans to offer 22 marginal fields, mainly onshore, in current calendar year to service contractors for development.
DoT has approved the government’s proposal to auction the surplus land of VSNL worth over Rs100bn.
The government may rule against Eicher Motors in its attempt to invoke Press Note 1 to stop the Daimler-Hero group JV.
Reliance Communications to invest Rs8bn to enhance its managed global Ethernet services footprint for enterprises.
Textile and apparel manufacturer Raymond plans to set up 950 stores across the country by 2010.
SCI plans to spend US$500mn for acquisition of bigger vessels.
Tata Steel has consolidated its stake in Tata Metaliks to over 50%, making it its subsidiary.
Ceat will invite international players as equity partners for its two greenfield projects costing Rs8bn.
Coal Ventures International, the PSU coal SPV, is likely to secure its first block in Mozambique.
Rural Electrification Corporation plans to raise US$200mn from export credit agencies in overseas markets.
The Hinduja group and ONGC Videsh hope to reach a general agreement with Iran to develop oil and gas fields in that country.
Aditya Birla Group is planning to form a JV with a foreign company to make products for the export market.
Usha Martin has entered the realty business with a new unit Usha Breco Realty Pvt Ltd.
Tata Power plans an entry into the infrastructure sector.
ACC has transferred its ready mix concrete business to a wholly-owned subsidiary ACC Concrete Ltd.
The K Raheja group has shown interest in setting up a Rs10bn IT park in Orissa.
Tata Motors takeover of Jaguar-Land Rover may be delayed as labour union of the target companies raised concern over employment security and future of the brands.
Economic News
The Union Budget may reduce the dividend distribution tax rate from 15% to 12.5%.
The industry sold 113,899 cars in January, registering a 9% growth as compared to last year.
Government says it would no longer permit new IT units to be set up within industrial parks.
The Sixth Pay Commission estimates 150% salary increase for civil services.
The RBI is planning to bring in new risk disclosure norms for banks selling forex derivatives products to corporates.
DoT has indicated that it is open to the idea of auctioning of 2G radio frequencies.
TRAI may set FDI norms for broadcasting and cable services.
Government may allow FDI in specific retail sectors if an expert body foresees no impact on neighbourhood stores.
The ministry of shipping, road transport and highways has proposed a Rs12bn fund to upgrade highways.
Government de-reserves 79 items from the SSI list.
Commerce Ministry has opposed FTA with China until it becomes a market economy