LOTS OF OTHER INTRA-DAY , BTST CALLS FOR OUR SUBSCRIBER'S ONLY
WATCH R POWER OUR BTST
Watch the level of 4740 today break below successfully can create panic and can show 4400 in short term be careful
Market to be good should at least stay above 4900... around which resistance is seen
Successfully trade above this can take us to 5020 and then 5070 and then 5143 - 5170
As I always say technically the market has not given clear trend yet. So be careful at higher level.
Indian Markets are highly underperforming the global markets from the last one week. Reports of huge FII selling in the Futures & Options segment last week just added fuel to the fire. Reliance Power took the blame for yesterday's carnage but we simply see that as an excuse.
Why Mondays are chosen for hitting the nail in the coffin?
BSE Sensex lost more than 800 points three times in less than one month. Jan 21st, the first time when the markets went down coincides to be a Monday and so is yesterday. Taking the oppurtunity of limited global cues the market players ideally chose Monday or US Market holidays to tune it accordingly. Feb 18th(US Market holiday) is another day to watch out for and the players will try to use Feb 18th and Feb 19th trading days to their advantage. Might be a coincidence Jan 21st is a US market holiday and Jan 22nd too market tanked more than 800 points.
What made the world change their view on India?
There is absolutely no change in fundmentals except for marginally low GDP estimates though analysts and media always try to take reasons for the slide.
But lack of buying interest from all corners is taken to advantage by the players. Though buying do not come informed and bottoms cannot be predicted medium term investors should start buying stocks at these highly attractive levels. Lets take the example of Adlabs Films, during euphoria one was ready to pay Rs.1945 on Jan 07 2008 for this stock and now there is no buying support even at Rs.850 levels in less than one month.
What to look forward?
Investors should neglect these carnages and pickup stocks from the secondary market. Indian Govt. should encourage retail investors to start investing in the domestic stock markets to avoid dependance of FII's. Markets are likely to open weak only to recover in the later part of the day
Stock in News
IFCI, Biocon, SBI, Vivimed Labs, DLF Limited, TCS and many more stocks hit the headlines today.
Hyderabad based Vivimed Laboratories is acquiring James Robinson, a speciality chemicals manufacturer and subsidiary of UK-based global chemicals major Yule Catto & Co
DLF Ltd delayed listing a $1.5 billion property trust in Singapore by 3 months and expects the IPO to be launched in the second quarter of this year.
J Kumar Infraprojects, will be listed on the Bombay stock exchange today. The scrip code of the stock is 532940 and admitted to dealings in the 'B1' group.
Biocon Limited has picked up 70% stake in German pharma co AxiCorp for 30 million Euros
IFCI, is looking forward to re-structuring after calling off sale of 26% of its equity. The company is reported to be on look out for an angel investor and is willing to offer VRS to cut costs.
State Bank of India has cut prime lending rate by 25 bps. The rights issue of SBI will opens February 18 and closes March 18. Canara bank too has cut the prime lending rate by 25 bps.
Tata Consultancy Services, outsmarted many analysts , to hike pay by 15%, starts 2nd Hyd centre with 8,000 employee capacity, and is likely to hire 22,000 freshers
News Snippets:
The Bombay High Court will hear RIL-RNRL dispute on gas from Feb 25.
SBI and Canara Bank have cut their benchmark prime lending rate by 25bps.
Gayatri Projects is planning to offload up to 49% stake in its newly formed holding company Gayatri Infra Ventures Ltd.
Reliance Technology Ventures, a 100% subsidiary of Reliance Capital has acquired a 10% stake in French Wi-Max chipmaker Sequans Communications.
Nicholas Piramal is planning to become a leader in diagnostic products in the domestic market over the next two years.
Deccan is likely to scale down its metro operations. It has launched daily flights connecting Mumbai to Indore, Vishakhapatnam and Lucknow.
Vivimed Labs is acquiring James Robinson, a subsidiary of UK-based global chemicals major Yule Catto & Co.
Kingfisher Airlines will operate international flights between Bangalore and San Francisco, Bangalore-New York and Mumbai-London flights from August.
GHCL Global Sourcing, a 100% subsidiary of GHCL, has set a business target of over US$1bn in FY09.
SBI has received government approval to allot shares to its staff at Rs 1,590 a share, or the price of the bank’s rights issue offer.
Allahabad Bank plans to raise Rs3bn of perpetual bonds before end-March.
Everonn Systems has acquired Patna-based Toppers Tutorial that operates in the IIT-JEE and AIEEE entrance exam space.
Kansai Nerolac Paints has lined up a total of 45 ‘Impression Style Zones’ in Chennai, Bangalore and Hyderabad in six months.
NTPC has initiated a move to place letters of award for five projects with a total capacity of 5,300 mw.
Escorts Construction Equipment will enter the earth moving equipment business in FY09
IOC plans to invest Rs90bn on improving the quality of petrol and diesel.
Bank of India may acquire a mid sized foreign bank in the next 2-3 months.
ICICI Bank plans to sell its small ticket personal loans portfolio worth Rs20bn.
DLF expects to list its US $1.5bn property trust IPO in Singapore in the second quarter of this year.
Reliance Industries and ONGC may not get special R&D status for their 17 blocks in the K.K. basin.
The delay in forest clearance for Reliance Power’s Sasan project has impacted a related transmission project to be built by Power Grid Corp.
Indian Overseas Bank may cut select lending rates by up to 25bps, but will wait till March to reduce deposit rates.
Arcelor Mittal India has got provisional approval from the Orissa Government to acquire 7,750 acres of land for its steel plant.
Economic News
GSM based mobile industry added 6.19mn users in January, taking their total mobile subscriber base to 178.4mn.
The Indian biotech industry is set to grow and occupy 140 million square feet by 2010
The vanaspati industry has sought customs duty at Rs4,000 per ton for import of crude palm oil.
The DoT has mooted a proposal for increasing additional spectrum charges and has also suggested slashing of one-time fixed spectrum charges.
China is ready to join Pakistan and Iran to build a pipeline and purchase Iranian gas if India does not participate in the project.
The Tamil Nadu Government plans to incentivise industries to utilize captive power production units.
The current defence market for private sector firms in India is estimated to grow by 7% annually from the current US$700mn by 2010.
Power ministry has sought the Prime Minister’s intervention to get natural gas from PMT fields for NTPC’s power plants.
The aggregate revenue of the IT-BPO sector is expected to grow 33% to US$64bn in FY08according to Nasscom.
The Government is considering a proposal to have a representation of the steel ministry with the ministry of mines while allocating iron ore mines.
The finance ministry has said that exemption from STT should not be provided in the case of International Financial Service Centres.