Nifty at a support of 4450 and 4372 with resis at 4610 and 4725
Markets at a support of 14678 & 14786 and resistance at 15151 & 15351 levels
Buy : Ongc at dips
Buy : RIL at dips
Buy : HLL & ITC
Buy : LT at dips
Buy : Nalco & MTNL at dips
Dark Horse : ONGC , Kohinoor , RIL , LT , ITC & HLL
Corporate Front Page
ICICI Bank and ICICI Lombard have come under the scanner of fair trade practices body MRTPC for imposing “unfair and unjust” conditions on the insurance cover provided to the credit card customers.
Tata Steel may raise ~Rs40bn through an issue of non-fungible GDRs.
JSW Steel Group has signed a $2bn deal with a Japanese shipping firm for transportation of coal over ten years.
JSW Steel inaugurated a 1mn ton capacity cold rolling mill complex at its Vijayanagar works.
Expert Committee on Infrastructure development and Miscellaneous Projects has granted the Coastal Regulation Zone clearance to Reliance Power’s its 4,000 MW Krishnapatnam ultra mega power project in Andhra Pradesh.
China Light and Power Holdings has emerged the lowest bidder for setting up the 1,326 mw power generation project at Jhajjar in Haryana, ahead of Lanco Infratech.
BPCL has been slapped a penalty of Rs330mn by the income tax department (Mumbai) for non-payment of proper advance taxes for 2006-07.
Tata BP Solar, a venture of Tata Power and BP Solar have signed an agreement with Calyon Bank, BNP Paribas and others to raise US$78mn for expansion.
Godrej Industries has received shareholders approval for further investing up to Rs3.6bn in Godrej Consumer Products.
Dubai-based Emaar Properties is planning to launch private residences designed by Giorgio Armani.
Future Group is picking up a 70% stake in Aadhaar, Godrej Group’s rural retailing initiative.
ACC, Ambuja Cement and Lafarge are looking at buying the closed manufacturing facilities of Cement Corporation of India.
With the Ministry of Civil Aviation not indicating a fresh date for shifting of operations the new Rajiv Gandhi International Airport, the GMR Hyderabad International Airport is set to incur significant losses.
Delhi-based Selan Exploration Technology has roped in Malaysia-based Kejuruteraan Samudra Timur (KSTB) to provide land drilling rig services in Ahmedabad, Gandhinagar and Mehsana districts in Gujarat.
Union Bank of India has readied a reverse mortgage loan product, which will be launched in couple of weeks.
The Chhattisgarh government has denied that it has ever signed any pact with NTPC to draw water from the state’s resources for its 2,980-Mw Sipat power project in Bilaspur district.
In a strongly-worded letter, the CPI (M) has sought Prime Minister Manmohan Singh’s urgent intervention to shore up BSNL’s mobile capacity.
High coffee bean prices have affected the profit margins of Hindustan Unilever’s (HUL) beverage segment.
The steel ministry is considering withdrawal of SAIL and Rashtriya Ispat Nigam from the JV with NMDC for setting up a 4mn ton steel plant in Chhattisgarh.
Russian conglomerate, Sistema plans to invest as much as US$5bn in India over the next three years.
DHL Express plans to open 1,000 retail points across the country by 2010 up from current 150 centers.
Signet Solar Inc, manufacturers of silicon thin film photovoltaic (PV) modules, will set up its first manufacturing plant at Sriperumbudur at an investment of Rs20bn and has signed an MoU with the Tamil Nadu government.
West Bengal Govt. plans to set up Rs4bn retail chain.
Economic News
Private equity and overseas venture capital investments in Indian Companies could soon be included in FDI caps for each sector.
After RBI, it is now the income tax authorities who have put banks and companies disclosing losses in their foreign exchange derivative structures under the scanner.
Non-food credit offtake in the fortnight ended February 29, 2008, has risen up by Rs400bn to Rs22,069bn, as against Rs7.9bn in the previous fortnight.
ok
IIP’s Feb data may show manufacturing slump in February, as the output increase rate and new orders have been weakest in the last six months.
The number of POIs (points of interconnection) with congestion has fallen to 315 during the three-month period ended December 2007, compared with 348 registered during the same period ended September 2007.
The government has said that the country will have electricity on demand by 2012 and it needs nuclear energy to meet future demand.
The country’s power shortage rose to its highest level at 12.8% in January 2008 as compared to 12.51% in January 2007.
The scope of the Rs600bn farm loan waiver package will be extended and dry-land farmers having more than five acres will also be able to benefit from the scheme.
The Congress government in Andhra Pradesh today announced loan waiver for weaker sections, physically challenged persons, minorities and women, amounting to Rs16.9bn and covering about 4.38mn beneficiaries.
In a relief to direct-to-home (DTH) operators facing exorbitant pricing of channels from the broadcasters, the Punjab and Haryana High Court has directed the sector regulator Trai to decide on the pricing issue within eight weeks.
According to the Solvent Extractors Association of India (SEA), edible oil imports increased to 0.43mn tons against 0.15mn tons during the same period a year ago.
The Andhra Pradesh Cabinet on Monday approved the lowering of sales tax from 33% to 4% on ATF.
Telecom Regulatory body TRAI will impose a fine of up to Rs20,000 on service providers for non-compliance of its directive regarding unsolicited tele-marketing calls and messages.
China has authorized coal exports of 31.8mn tons in 2008.
JGS Investments is a home of expert stockmarket analysts, and premier source for technical analysts research and information on Indian Stock Markets.Just join us at Yahoo Messenger sheth_jg@yahoo.com OR Email at sheth_jg@yahoo.com
Tuesday, March 18, 2008
Monday, March 17, 2008
ZIG-ZAG MOVEMENT Expected Today ,ONLY BLOOD ON STREET
Sell on opening for new low later half
Due to Collapse in ASIAN & American Market , the Stock May Open 6 to 7% Lower from It's Friday's Close.
But, in the Late Trade , We're Expecting, Sharp Recovery in this Counter.
RELIANCE IND
LAST CLOSE on Friday Was : 2321
Around 6 to 7% LOWER in Today Trade : 2160 to 2170
Then, Start Buying Around 2160 to 2180 level with New Stop Loss of 2103 , for 3 to 4% Gain in Today's Trade. The Stock is Bound to bounce back from here
Our market is likely to open on a weak note.
Traders are advised to assume long positions if Nifty holds 4600
levels. Else, short positions can be assumed below 4580 levels
for downside targets of 4500 and 4450 levels
Nifty March Futures have shed 23 lakh shares in open and
turned into a premium of 1.15 points from a discount of 26.30
points suggesting closure of short positions in Index Futures.
The overall market witnessed a shed off of 0.38% in open
interest with an increase in average cost of carry from -10.41%
to 2.84% indicating closure of short positions in majority of Stock
Futures. On the Options front Majority of Nifty Call and Put
options have seen writing while a Put options of lower strikes
seen closure of long positions suggesting that market may
remain rangebound with positive bias
1.) REL: REL Futures have shed 19.86 percent in open interest along with a decrease in cost of carry from -12.27
percent to -19.86 percent indicating closure of long positions which are stuck at higher levels. Short positions can be
assumed in the stock below 1250 levels for immediate targets of 1220 and 1190 levels with a stop loss placed above
1285 levels.
2.) RPower: The stock shed 6.35 percent in open interest with significant increase in cost of carry from -24.23
percent to -0.83 percent indicating closure of short positions in the stock from lower levels. Short positions can be
assumed in the stock below 330 levels for targets of 320 and 312 levels with final stop loss placed above 328 levels.
3.) JP Associate: JP Associate Futures have seen closure of short positions in Friday’s session. The stock shed
3.61 percent in open interest with the cost of carry turning into positive at 7.14 percent from -5.36 percent. However,
the stock is likely to witness fresh build up of short positions in line with the market. Short positions can be assumed
in the stock below 230 levels for immediate targets of 224 and 216 levels with a stop loss placed above 236 levels.
4.) DLF: DLF witnessed fresh accumulation of short positions in Friday’s trade. The stock has seen 6.77 percent
addition in open interest with a steep fall in cost of carry from -19.78 percent to -50.47 percent. Short positions can
be assumed in the stock below 640 levels form targets of 620 and 605 levels with a final stop loss placed above 655
levels.
5) SBIN: The stock shed 5.10 percent in open interest with an increase in cost of carry from -1.38 percent to 6.97
percent indicating closure of short positions in the stock. Long positions can be assumed in the stock if it holds above
1580 levels for targets of 1650 and 1700 levels with a final stop loss placed below 1550 levels.
6) RPL: RPL Futures have added 3.95 percent in open interest with a recovery in cost of carry from -1.67 percent to
10.34 percent suggesting closure of short positions and addition of fresh long positions in the stock. The stock has
support placed at 150 levels and if this level is sustained, one may see upsides in the stock. Long positions can be
assumed around 150 levels for immediate targets of 160 and 165 levels with a stop loss placed at 143 levels.
8) ONGC: ONGC Futures have shed 7.28 percent in open interest with an improving cost of carry from -8.06
percent to 1.82 percent suggesting closure of short positions in the stock. The stock has an immediate support
placed at 950 levels and if it sustains above that, long positions may be taken. Long positions can be assumed
around 890 levels for immediate targets of 950 and 1000 levels with a stop loss placed at 830 levels.
Due to Collapse in ASIAN & American Market , the Stock May Open 6 to 7% Lower from It's Friday's Close.
But, in the Late Trade , We're Expecting, Sharp Recovery in this Counter.
RELIANCE IND
LAST CLOSE on Friday Was : 2321
Around 6 to 7% LOWER in Today Trade : 2160 to 2170
Then, Start Buying Around 2160 to 2180 level with New Stop Loss of 2103 , for 3 to 4% Gain in Today's Trade. The Stock is Bound to bounce back from here
Our market is likely to open on a weak note.
Traders are advised to assume long positions if Nifty holds 4600
levels. Else, short positions can be assumed below 4580 levels
for downside targets of 4500 and 4450 levels
Nifty March Futures have shed 23 lakh shares in open and
turned into a premium of 1.15 points from a discount of 26.30
points suggesting closure of short positions in Index Futures.
The overall market witnessed a shed off of 0.38% in open
interest with an increase in average cost of carry from -10.41%
to 2.84% indicating closure of short positions in majority of Stock
Futures. On the Options front Majority of Nifty Call and Put
options have seen writing while a Put options of lower strikes
seen closure of long positions suggesting that market may
remain rangebound with positive bias
1.) REL: REL Futures have shed 19.86 percent in open interest along with a decrease in cost of carry from -12.27
percent to -19.86 percent indicating closure of long positions which are stuck at higher levels. Short positions can be
assumed in the stock below 1250 levels for immediate targets of 1220 and 1190 levels with a stop loss placed above
1285 levels.
2.) RPower: The stock shed 6.35 percent in open interest with significant increase in cost of carry from -24.23
percent to -0.83 percent indicating closure of short positions in the stock from lower levels. Short positions can be
assumed in the stock below 330 levels for targets of 320 and 312 levels with final stop loss placed above 328 levels.
3.) JP Associate: JP Associate Futures have seen closure of short positions in Friday’s session. The stock shed
3.61 percent in open interest with the cost of carry turning into positive at 7.14 percent from -5.36 percent. However,
the stock is likely to witness fresh build up of short positions in line with the market. Short positions can be assumed
in the stock below 230 levels for immediate targets of 224 and 216 levels with a stop loss placed above 236 levels.
4.) DLF: DLF witnessed fresh accumulation of short positions in Friday’s trade. The stock has seen 6.77 percent
addition in open interest with a steep fall in cost of carry from -19.78 percent to -50.47 percent. Short positions can
be assumed in the stock below 640 levels form targets of 620 and 605 levels with a final stop loss placed above 655
levels.
5) SBIN: The stock shed 5.10 percent in open interest with an increase in cost of carry from -1.38 percent to 6.97
percent indicating closure of short positions in the stock. Long positions can be assumed in the stock if it holds above
1580 levels for targets of 1650 and 1700 levels with a final stop loss placed below 1550 levels.
6) RPL: RPL Futures have added 3.95 percent in open interest with a recovery in cost of carry from -1.67 percent to
10.34 percent suggesting closure of short positions and addition of fresh long positions in the stock. The stock has
support placed at 150 levels and if this level is sustained, one may see upsides in the stock. Long positions can be
assumed around 150 levels for immediate targets of 160 and 165 levels with a stop loss placed at 143 levels.
8) ONGC: ONGC Futures have shed 7.28 percent in open interest with an improving cost of carry from -8.06
percent to 1.82 percent suggesting closure of short positions in the stock. The stock has an immediate support
placed at 950 levels and if it sustains above that, long positions may be taken. Long positions can be assumed
around 890 levels for immediate targets of 950 and 1000 levels with a stop loss placed at 830 levels.
Friday, March 14, 2008
RECOVERY TO A CERTAIN
YESTERDAY WE BOUGHT NIFTY, IBR,RANBAXY,JP
For more kindly visit http://www.freewebs.com/jgs-investments/marketwhisper.htm
AGAIN THIS MONTH,OUR CLIENTS HAVE EARNED IN TONNES,BEFORE BUDGET WE TOLD YOU TO SHORT
We expect the markets to bounce back to a certain, Nifty expected to play between 4540 - 4780. Break of any which side will create momentum.
On its upmove likely to face resistance at 4680 and 4710 break of this can take to 4780.
On the downside we find a immediate support at 4605 break of this can take to 4580 and then finally a good one at 4540.
At current 15,357.35, Sensex trades at a PE multiple of 14.62 to 15.35, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.
As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 108.50 crore on Thursday, 13 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 56.44 crore on that day.
FIIs were net buyers of Rs 242.82 crore in the futures & options segment on Thursday, 13 March 2008. They were net sellers of index futures to the tune of Rs 85.43 crore and bought index options worth Rs 85.82 crore. They were net buyers of stock futures to the tune of Rs 238.73 crore and bought stock options worth Rs 3.70 crore
The market may advance today on firm global cues. However high volatility cannot be ruled out. The next trigger for the market would come from the figures of advance tax payment by corporates for the fourth installment, which falls due on 15 March 2008.
Another major trigger for the market is outcome of the US Federal Reserve meeting on 18 March 2008 to review interest rates. A cut in interest rate, as expected by the street may provide some support to the markets. Fed Chairman Ben Bernanke had signaled a readiness to cut interest rates again to prevent further damage to the weak US economy, even as he took note of rising inflation risks.
For more kindly visit http://www.freewebs.com/jgs-investments/marketwhisper.htm
AGAIN THIS MONTH,OUR CLIENTS HAVE EARNED IN TONNES,BEFORE BUDGET WE TOLD YOU TO SHORT
We expect the markets to bounce back to a certain, Nifty expected to play between 4540 - 4780. Break of any which side will create momentum.
On its upmove likely to face resistance at 4680 and 4710 break of this can take to 4780.
On the downside we find a immediate support at 4605 break of this can take to 4580 and then finally a good one at 4540.
At current 15,357.35, Sensex trades at a PE multiple of 14.62 to 15.35, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.
As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 108.50 crore on Thursday, 13 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 56.44 crore on that day.
FIIs were net buyers of Rs 242.82 crore in the futures & options segment on Thursday, 13 March 2008. They were net sellers of index futures to the tune of Rs 85.43 crore and bought index options worth Rs 85.82 crore. They were net buyers of stock futures to the tune of Rs 238.73 crore and bought stock options worth Rs 3.70 crore
The market may advance today on firm global cues. However high volatility cannot be ruled out. The next trigger for the market would come from the figures of advance tax payment by corporates for the fourth installment, which falls due on 15 March 2008.
Another major trigger for the market is outcome of the US Federal Reserve meeting on 18 March 2008 to review interest rates. A cut in interest rate, as expected by the street may provide some support to the markets. Fed Chairman Ben Bernanke had signaled a readiness to cut interest rates again to prevent further damage to the weak US economy, even as he took note of rising inflation risks.
Thursday, March 13, 2008
Fall of 200 points and more at opening
Forget USA even India is slowing down
Sell Steel sector stock( Tata steel, Sail,Hindlco)
Visit for more details at
http://www.freewebs.com/jgs-investments/marketwhisper.htm
We need fall today 200+, We advised bindaas short Opening
BTST NIFTY PUT WILL ROCK TODAY,We will advise clients when to buy for upmove today
We expect the market to open soft in the wake of the weakness in US and Asian markets. The trend thereafter will partly hinge on global cues. Tomorrow, we will get the weekly inflation data. A fresh spike there could deal another blow to the sentiment.
Indian ADRS closed in red. Satyam, Infosys and Wipro fell by (9.37%), (3.60%) and (2.21%) respectively. ICICI bank and HDFC bank dropped by (5.35%) and (3.05%) respectively.
The FIIs on Wednesday stood as net seller in equity. The gross equity purchased was Rs4,610 Crore while the gross equity sold stood at Rs5,782.40 Crore.
Therefore, the net investment of equity reported was (Rs172.40 Crore).Today, Nifty has support at 4,712 and resistance at 4,914 and BSE Sensex has support at 15,534 and resistance at 16,286.
V Guard Industries having issued shares at Rs 82 per share, is likely to list at Rs 90, and profit booking is advised above this level.
Corporate Front Page
Vedanta Resources to set up a large aluminum complex at Bihanbag, Asansol, at an investment of Rs200bn. (ET)
DLF REIT to raise Rs20bn from a clutch of PE investors. (ET)
TCS forms JV with Thai Re-Insurance Public Corporation to offer IT outsourcing services on an ASP model to insurance providers in Thailand. (BL)
Bharti Airtel signs a US$100mn investment agreement with the Board of Investment of Sri Lanka to begin operations there. (ET)
Ashok Leyland plans to invest Rs60bn to shore up CV business in the next few years. (ET)
NTPC Board approves an investment of Rs73.4bn in 1,920 MW Barh super thermal power project stage-II in Bihar. (FE)
Tata Steel to source chrome ore from Iran for its upcoming ferro chrome plant in South Africa. (BS)
IOC to invest Rs5bn in R&D during the 11th five-Year plan ending 2012. (BL)
M&M’s arm, Mahindra Intertrade opens an electrical steel plant in Vadodara, Gujarat. (BL)
Alok Industries has taken 50% stake in Ashford Infotech through a 100% subsidiary for joint development of realty projects. (BS)
Hikal to invest Rs2bn to set up four new manufacturing facilities in Bangalore and Mumbai and a R&D centre in Pune. (BS)
Gujarat Gas Company expects 10% drop in the availability of natural gas from Panna-Mukta-Tapti source from April. (BL)
Voltas eyes 20% share in AC market by adding 1,000 new channel partners to the distribution network. (DNA)
Gayatri Projects to enter the urban infrastructure and water treatment business segments. (DNA)
Everonn Systems plans to raise US$50mn to carry forward the expansion in the virtual classroom segment. (ET)
Tanla Solutions is in acquisition talks with 3-4 US-based firms with annual revenues in the range of US$30-70mn. (DNA)
Godfrey Phillips launches ‘Fundamint’ brand of mouth freshner. (DNA)
Goldstone Tech plans to roll-out IPTV services in 11 countries by the end of FY09. (BS)
Mumbai-based property developer, Oberoi Constructions, is planning Rs40bn IPO by the year end. (BS)
Piaggio eyes 5-fold increase in its Ape Truk (sub-one-tonne light CV) sales. (BS)
Shriram Properties to invest Rs5bn to develop mid-income housing projects across India over next 2-3 years. (ET)
Blackstone has picked up minority interest in Titagarh Wagons at Rs672/share. (ET)
Economic News
The Government has notified new FDI norms for sectors including PSU oil refineries, industrial parks, credit information companies, titanium mining, commodity exchanges and civil aviation. (BL)
Royalty on iron ore mining may be changed to an ad Valorem rate of 10% from the current fixed rate of Rs13-27/ton. (ET)
Cement sales for the month of February were up 13% yoy. (BL)
Indian battery industry is set to double by 2011, says Exide Industries. (BL)
India's Travel & Tourism revenues are estimated at US$100bn in 2008 and may increase to US$276bn by 2018. (ET)
Global PC shipments to grow 12.8% this year, as per IDC. (BL)
Sell Steel sector stock( Tata steel, Sail,Hindlco)
Visit for more details at
http://www.freewebs.com/jgs-investments/marketwhisper.htm
We need fall today 200+, We advised bindaas short Opening
BTST NIFTY PUT WILL ROCK TODAY,We will advise clients when to buy for upmove today
We expect the market to open soft in the wake of the weakness in US and Asian markets. The trend thereafter will partly hinge on global cues. Tomorrow, we will get the weekly inflation data. A fresh spike there could deal another blow to the sentiment.
Indian ADRS closed in red. Satyam, Infosys and Wipro fell by (9.37%), (3.60%) and (2.21%) respectively. ICICI bank and HDFC bank dropped by (5.35%) and (3.05%) respectively.
The FIIs on Wednesday stood as net seller in equity. The gross equity purchased was Rs4,610 Crore while the gross equity sold stood at Rs5,782.40 Crore.
Therefore, the net investment of equity reported was (Rs172.40 Crore).Today, Nifty has support at 4,712 and resistance at 4,914 and BSE Sensex has support at 15,534 and resistance at 16,286.
V Guard Industries having issued shares at Rs 82 per share, is likely to list at Rs 90, and profit booking is advised above this level.
Corporate Front Page
Vedanta Resources to set up a large aluminum complex at Bihanbag, Asansol, at an investment of Rs200bn. (ET)
DLF REIT to raise Rs20bn from a clutch of PE investors. (ET)
TCS forms JV with Thai Re-Insurance Public Corporation to offer IT outsourcing services on an ASP model to insurance providers in Thailand. (BL)
Bharti Airtel signs a US$100mn investment agreement with the Board of Investment of Sri Lanka to begin operations there. (ET)
Ashok Leyland plans to invest Rs60bn to shore up CV business in the next few years. (ET)
NTPC Board approves an investment of Rs73.4bn in 1,920 MW Barh super thermal power project stage-II in Bihar. (FE)
Tata Steel to source chrome ore from Iran for its upcoming ferro chrome plant in South Africa. (BS)
IOC to invest Rs5bn in R&D during the 11th five-Year plan ending 2012. (BL)
M&M’s arm, Mahindra Intertrade opens an electrical steel plant in Vadodara, Gujarat. (BL)
Alok Industries has taken 50% stake in Ashford Infotech through a 100% subsidiary for joint development of realty projects. (BS)
Hikal to invest Rs2bn to set up four new manufacturing facilities in Bangalore and Mumbai and a R&D centre in Pune. (BS)
Gujarat Gas Company expects 10% drop in the availability of natural gas from Panna-Mukta-Tapti source from April. (BL)
Voltas eyes 20% share in AC market by adding 1,000 new channel partners to the distribution network. (DNA)
Gayatri Projects to enter the urban infrastructure and water treatment business segments. (DNA)
Everonn Systems plans to raise US$50mn to carry forward the expansion in the virtual classroom segment. (ET)
Tanla Solutions is in acquisition talks with 3-4 US-based firms with annual revenues in the range of US$30-70mn. (DNA)
Godfrey Phillips launches ‘Fundamint’ brand of mouth freshner. (DNA)
Goldstone Tech plans to roll-out IPTV services in 11 countries by the end of FY09. (BS)
Mumbai-based property developer, Oberoi Constructions, is planning Rs40bn IPO by the year end. (BS)
Piaggio eyes 5-fold increase in its Ape Truk (sub-one-tonne light CV) sales. (BS)
Shriram Properties to invest Rs5bn to develop mid-income housing projects across India over next 2-3 years. (ET)
Blackstone has picked up minority interest in Titagarh Wagons at Rs672/share. (ET)
Economic News
The Government has notified new FDI norms for sectors including PSU oil refineries, industrial parks, credit information companies, titanium mining, commodity exchanges and civil aviation. (BL)
Royalty on iron ore mining may be changed to an ad Valorem rate of 10% from the current fixed rate of Rs13-27/ton. (ET)
Cement sales for the month of February were up 13% yoy. (BL)
Indian battery industry is set to double by 2011, says Exide Industries. (BL)
India's Travel & Tourism revenues are estimated at US$100bn in 2008 and may increase to US$276bn by 2018. (ET)
Global PC shipments to grow 12.8% this year, as per IDC. (BL)
Wednesday, March 12, 2008
WE WILL REACH OUR TARGET 4950
OUR BTST WILL ZOOM TODAY
Despite Weak Global Market In past we are earning in market
Everyday, We People are Trying Hard to Deliver You , Excellent TRADING CALLLS
We're Expecting our this FRIENDSHIP , LIFE LONG
Visit for today update at http://www.freewebs.com/jgs-investments/marketwhisper.htm
BSE Sensex is likely to gain no less than 500 points today
Gap up open ,Majority of the beaten down stocks are likely to see action and as said the two close above the technical level
OUR TRADING CALL OF JP ASS
ALSO FLARED LIKE AGNI MISSILE AND HIT 257 MARK, OH GOD, WHAT A GAIN, WHAT A GAIN.
Shares of Rural Electrification Corp. (REC) will get listed today. The public sector term lender for rural power projects had fixed the issue price at Rs105 per share. The issue was subscribed by nearly 28 times amid dire times for the primary market. The stock may benefit from the general feel-good and good prospect for the power sector.
FIIs were net sellers of Rs5.39bn (provisional) in the cash segment yesterday while local funds pumped in Rs3.03bn. In the F&O segment, foreign funds were net buyers of Rs6.22bn yesterday. On Monday, FIIs were net sellers to the tune of Rs11.38bn in the cash segment. Mutual funds were net buyers of Rs3.36bn on the same day.
Corporate Front Page
Reliance Entertainment plans to launch 20 television channels. (Mint)
NTPC expected to sign agreement with NHPC, PFC and TCS to form a second electricity exchange in India. (Mint)
GMR Infrastructure has confirmed closure of commercial operations of the Begumpet airport in Hyderabad from March 16. (Mint)
Marico has sold its processed food division, SIL, to Denmark’s Good Food group. (Mint)
Tata Steel’s third quarter profit including that of Corus group stood at Rs14bn. (Mint)
ING Vysya bank seeks to double deposit base and raise customer base over five times in two years. (Mint)
Government says the proposed JV of BHEL and NTPC to be called NTPC-BHEL Power Projects. (BS)
Bajaj Hindustan plans foray into molasses based chemical business. (BS)
Gail plans new arm for city gas supply, to be set up in 2-3 months. (BS)
TCS targets US$2bn revenues from emerging markets by 2011-12. (BS)
Essar group may not pitch for stake in Prize Petroleum. (BL)
Exide Industries to double capacity in two years. (BL)
Nicholas Piramal rechristened Piramal Healthcare. (BL)
ONGC to seek further extension for Bengal offshore drilling. (BL)
Celebrity Fashions enters pact with Jeans Knit for plant sale. (BL)
Bongaigaon Refinery gets shareholders' approval for merger with IOC. (BL)
BSNL repays Rs30bn government loan. (BL)
Satyam in pursuit of Oracle based deals in area of government, civil aviation and financial services. (BL)
United Spirits to increase focus on premium brands; aims at 100mn cases in two years. (BL)
Apollo Tyres’ diversification plans in Kerala hits roadblock. (BL)
Allied Digital to acquire 51% stake in Bangalore-based Digicom for Rs200mn. (ET)
Nicholas Piramal looking for acquisition opportunities in US and Europe to expand its contract manufacturing biz. (ET)
Nicholas Piramal may sell small stake in its research company to private equity funds. (ET)
Rodere Holdings, the Cyprus-based private equity investor, to invest Rs2bn in Orbit Corp. (ET)
Ratnagiri Gas & Power plans to raise funds via IPO. (ET)
Delhi-based realty firm BPTP outbids DLF to bag largest land deal worth Rs50.06bn in Noida. (ET)
PNB plans to sell nearly 26% stake in its subsidiary PNB Housing Finance. (ET)
SBI may raise US$200-500mn in bonds denominated in Malaysia ringgits for international operations. (ET)
Bajaj Auto to change name to Bajaj Holdings and Investments and will exit from benchmark Sensex and Nifty from March 14. (FE)
Centrum, Future Holdings enters in a strategic partnership. (FE)
Tata Chemicals to invest Rs7.5bn in the next three to four years to foray into Ethanol sector. (FE)
Economic News
Banks operating in India had US$3.16tn of derivatives on their books as on December 2007. (Mint)
Unions resort to non-cooperation to protest grounding of old airports. (Mint)
Government mulls lower user fees at new private airports. (BS)
DoT to keep landline, internet services revenue out; while calculating spectrum fee. (ET)
RBI may ban hiring of loan recovery agents by banks. (ET)
Government to act on a proposal to attach securities lying in frozen Demat accounts of investors if PAN not submitted. (ET)
Commerce and Industry minister would provide some relief to sectors hit by rupee appreciation in the forthcoming Foreign Trade Policy (FTP). (FE)
Government may opt for public private partnership model in housing sector. (FE)
In House :
Nifty at a resistance at 5050 and 5370 levels.
Cash : Buy REL above 1288 TGT 1390 with S/L 1265
Cash : Buy Infosys above 1429 TGT 1474 with S/L 1406.
Future : Buy Tata communication above 484 TGT 500 with S/L 478
Future : Buy REL above 1290 TGT 1350 with S/L 1270
Reliance , Rel capital TISCO and L & T looks good.
Out House :
Markets at a support of 15786 & 15858 and resistance at 16543 & 16661 levels .
Buy : Tisco and Sail
Buy : RPL & MRPL
Buy : Hindalco & Nalco
Buy : RIL & RelCap
Buy : Sterlite & ITC
Buy : LT & Titan
Buy : IBulls & JPAsso
Dark Horse : RIL , ITC , SBIN , LT , Aban , Sail , Sterlite , Noida & HLL
BSE Bullet : LKPMerc & Coreproject
All the emerging markets ended sharply higher. The Bovespa in Brazil surged 3.95% to 62,367 while the IPC index in Mexico jumped 4.5% to 29,466. The RTS index in Russia was up 2.3% at 2058 while the ISE National-30 index in Turkey soared 5% to 53,884.
Bulls hope to build on gains
After being on the receiving end for several trading sessions, markets staged a recovery on Tuesday with the 30-share benchmark Sensex gaining 1.2% ending above the 16k mark. Major laggards were the telecom companies, Bharti Airtel and Tata Communications, Maruti Suzuki and Satyam. The IT sector as a whole was under pressure. The NSE Nifty closed at 4,865 gaining 65 points. Among the 50-stocks of Nifty index, Tata Power, GAIL and Siemens were the top gainers, spurting over 6% each.
Overall about 2,101 stocks advanced, 611 stocks declined while 35 stocks remained unchanged. Among the BSE 30 index 20 stocks advanced while 10 stocks declined. RIL, L&T and DLF were among the major gainers, while; ICICI Bank, HDFC and Bharti were among the major laggards.
BEML rallied by over 5% to Rs1178 as reports stated that it would finalise its German JV to make wagons and other railway components by end-March. The scrip touched an intra-day high of Rs1194 and a low of Rs1097 and recorded volumes of over 18,000 shares on NSE.
GAIL surged by over 7% to Rs421 after the company said that it would spend Rs23bn this financial year. The scrip touched an intra-day high of Rs437 and a low of Rs391 and recorded volumes of over 28,00,000shares on NSE.
L&T surged by over 7% to Rs2916 after the company said that it secured Scada Systems contract from ONGC. The scrip touched an intra-day high of Rs2950 and a low of Rs2650 and recorded volumes of over 14,00,000 shares on NSE.
JSW Steel slipped by a percent to Rs910. According to reports, the company would issue one equity share for every 22 held in Southern Iron and Steel Company for merger of the two companies. The scrip touched an intra-day high of Rs948 and a low of Rs909 and recorded volumes of over 5,00,000 shares on NSE.
Lanco Infratech surged by over 4% to Rs390. The company on Monday announced that it awarded Rs500mn contract to a unit of Punj Lloyd Ltd to build a facility in the southern city of Hyderabad. The scrip touched an intra-day high of Rs404 and a low of Rs352 and recorded volumes of over 19,00,000 shares on NSE.
REL gained by 2% ton Rs1287 after reports stated that 35 lakh shares of REL change hands on BSE at Rs1247. The scrip touched an intra-day high of Rs1308 and a low of Rs1211 and recorded volumes of over 47,00,000 shares on BSE.
After staging a gradual come back on Tuesday, bulls would hope to hang on to their gains. Global scenario also looks a bit supportive with the Asian markets closing on a positive note and the European markets also hanging on to their gains. For tomorrow, markets may carry on the momentum. However, one should not over leverage their positions and be cautious as you never know what can hit you from which part of the world while you are sleeping.
Despite Weak Global Market In past we are earning in market
Everyday, We People are Trying Hard to Deliver You , Excellent TRADING CALLLS
We're Expecting our this FRIENDSHIP , LIFE LONG
Visit for today update at http://www.freewebs.com/jgs-investments/marketwhisper.htm
BSE Sensex is likely to gain no less than 500 points today
Gap up open ,Majority of the beaten down stocks are likely to see action and as said the two close above the technical level
OUR TRADING CALL OF JP ASS
ALSO FLARED LIKE AGNI MISSILE AND HIT 257 MARK, OH GOD, WHAT A GAIN, WHAT A GAIN.
Shares of Rural Electrification Corp. (REC) will get listed today. The public sector term lender for rural power projects had fixed the issue price at Rs105 per share. The issue was subscribed by nearly 28 times amid dire times for the primary market. The stock may benefit from the general feel-good and good prospect for the power sector.
FIIs were net sellers of Rs5.39bn (provisional) in the cash segment yesterday while local funds pumped in Rs3.03bn. In the F&O segment, foreign funds were net buyers of Rs6.22bn yesterday. On Monday, FIIs were net sellers to the tune of Rs11.38bn in the cash segment. Mutual funds were net buyers of Rs3.36bn on the same day.
Corporate Front Page
Reliance Entertainment plans to launch 20 television channels. (Mint)
NTPC expected to sign agreement with NHPC, PFC and TCS to form a second electricity exchange in India. (Mint)
GMR Infrastructure has confirmed closure of commercial operations of the Begumpet airport in Hyderabad from March 16. (Mint)
Marico has sold its processed food division, SIL, to Denmark’s Good Food group. (Mint)
Tata Steel’s third quarter profit including that of Corus group stood at Rs14bn. (Mint)
ING Vysya bank seeks to double deposit base and raise customer base over five times in two years. (Mint)
Government says the proposed JV of BHEL and NTPC to be called NTPC-BHEL Power Projects. (BS)
Bajaj Hindustan plans foray into molasses based chemical business. (BS)
Gail plans new arm for city gas supply, to be set up in 2-3 months. (BS)
TCS targets US$2bn revenues from emerging markets by 2011-12. (BS)
Essar group may not pitch for stake in Prize Petroleum. (BL)
Exide Industries to double capacity in two years. (BL)
Nicholas Piramal rechristened Piramal Healthcare. (BL)
ONGC to seek further extension for Bengal offshore drilling. (BL)
Celebrity Fashions enters pact with Jeans Knit for plant sale. (BL)
Bongaigaon Refinery gets shareholders' approval for merger with IOC. (BL)
BSNL repays Rs30bn government loan. (BL)
Satyam in pursuit of Oracle based deals in area of government, civil aviation and financial services. (BL)
United Spirits to increase focus on premium brands; aims at 100mn cases in two years. (BL)
Apollo Tyres’ diversification plans in Kerala hits roadblock. (BL)
Allied Digital to acquire 51% stake in Bangalore-based Digicom for Rs200mn. (ET)
Nicholas Piramal looking for acquisition opportunities in US and Europe to expand its contract manufacturing biz. (ET)
Nicholas Piramal may sell small stake in its research company to private equity funds. (ET)
Rodere Holdings, the Cyprus-based private equity investor, to invest Rs2bn in Orbit Corp. (ET)
Ratnagiri Gas & Power plans to raise funds via IPO. (ET)
Delhi-based realty firm BPTP outbids DLF to bag largest land deal worth Rs50.06bn in Noida. (ET)
PNB plans to sell nearly 26% stake in its subsidiary PNB Housing Finance. (ET)
SBI may raise US$200-500mn in bonds denominated in Malaysia ringgits for international operations. (ET)
Bajaj Auto to change name to Bajaj Holdings and Investments and will exit from benchmark Sensex and Nifty from March 14. (FE)
Centrum, Future Holdings enters in a strategic partnership. (FE)
Tata Chemicals to invest Rs7.5bn in the next three to four years to foray into Ethanol sector. (FE)
Economic News
Banks operating in India had US$3.16tn of derivatives on their books as on December 2007. (Mint)
Unions resort to non-cooperation to protest grounding of old airports. (Mint)
Government mulls lower user fees at new private airports. (BS)
DoT to keep landline, internet services revenue out; while calculating spectrum fee. (ET)
RBI may ban hiring of loan recovery agents by banks. (ET)
Government to act on a proposal to attach securities lying in frozen Demat accounts of investors if PAN not submitted. (ET)
Commerce and Industry minister would provide some relief to sectors hit by rupee appreciation in the forthcoming Foreign Trade Policy (FTP). (FE)
Government may opt for public private partnership model in housing sector. (FE)
In House :
Nifty at a resistance at 5050 and 5370 levels.
Cash : Buy REL above 1288 TGT 1390 with S/L 1265
Cash : Buy Infosys above 1429 TGT 1474 with S/L 1406.
Future : Buy Tata communication above 484 TGT 500 with S/L 478
Future : Buy REL above 1290 TGT 1350 with S/L 1270
Reliance , Rel capital TISCO and L & T looks good.
Out House :
Markets at a support of 15786 & 15858 and resistance at 16543 & 16661 levels .
Buy : Tisco and Sail
Buy : RPL & MRPL
Buy : Hindalco & Nalco
Buy : RIL & RelCap
Buy : Sterlite & ITC
Buy : LT & Titan
Buy : IBulls & JPAsso
Dark Horse : RIL , ITC , SBIN , LT , Aban , Sail , Sterlite , Noida & HLL
BSE Bullet : LKPMerc & Coreproject
All the emerging markets ended sharply higher. The Bovespa in Brazil surged 3.95% to 62,367 while the IPC index in Mexico jumped 4.5% to 29,466. The RTS index in Russia was up 2.3% at 2058 while the ISE National-30 index in Turkey soared 5% to 53,884.
Bulls hope to build on gains
After being on the receiving end for several trading sessions, markets staged a recovery on Tuesday with the 30-share benchmark Sensex gaining 1.2% ending above the 16k mark. Major laggards were the telecom companies, Bharti Airtel and Tata Communications, Maruti Suzuki and Satyam. The IT sector as a whole was under pressure. The NSE Nifty closed at 4,865 gaining 65 points. Among the 50-stocks of Nifty index, Tata Power, GAIL and Siemens were the top gainers, spurting over 6% each.
Overall about 2,101 stocks advanced, 611 stocks declined while 35 stocks remained unchanged. Among the BSE 30 index 20 stocks advanced while 10 stocks declined. RIL, L&T and DLF were among the major gainers, while; ICICI Bank, HDFC and Bharti were among the major laggards.
BEML rallied by over 5% to Rs1178 as reports stated that it would finalise its German JV to make wagons and other railway components by end-March. The scrip touched an intra-day high of Rs1194 and a low of Rs1097 and recorded volumes of over 18,000 shares on NSE.
GAIL surged by over 7% to Rs421 after the company said that it would spend Rs23bn this financial year. The scrip touched an intra-day high of Rs437 and a low of Rs391 and recorded volumes of over 28,00,000shares on NSE.
L&T surged by over 7% to Rs2916 after the company said that it secured Scada Systems contract from ONGC. The scrip touched an intra-day high of Rs2950 and a low of Rs2650 and recorded volumes of over 14,00,000 shares on NSE.
JSW Steel slipped by a percent to Rs910. According to reports, the company would issue one equity share for every 22 held in Southern Iron and Steel Company for merger of the two companies. The scrip touched an intra-day high of Rs948 and a low of Rs909 and recorded volumes of over 5,00,000 shares on NSE.
Lanco Infratech surged by over 4% to Rs390. The company on Monday announced that it awarded Rs500mn contract to a unit of Punj Lloyd Ltd to build a facility in the southern city of Hyderabad. The scrip touched an intra-day high of Rs404 and a low of Rs352 and recorded volumes of over 19,00,000 shares on NSE.
REL gained by 2% ton Rs1287 after reports stated that 35 lakh shares of REL change hands on BSE at Rs1247. The scrip touched an intra-day high of Rs1308 and a low of Rs1211 and recorded volumes of over 47,00,000 shares on BSE.
After staging a gradual come back on Tuesday, bulls would hope to hang on to their gains. Global scenario also looks a bit supportive with the Asian markets closing on a positive note and the European markets also hanging on to their gains. For tomorrow, markets may carry on the momentum. However, one should not over leverage their positions and be cautious as you never know what can hit you from which part of the world while you are sleeping.
Tuesday, March 11, 2008
Intra-day volatility still exist
Intra-day volatility may see the market swing both ways and hold back the local players from taking fresh positions. The market may slip initially following overnight slump in the US markets and weak Asian indices in morning trades. As the overall sentiment remains bearish, the market may not overcome from early weakness. The Nifty may witness resistance at 5100 on the upside while the near-term support at 4620 is seen on the downside. The Sensex has a likely support at 15700 and could witness resistance at 16150.
Despite a sharp fall in the early trades, markets staged a stellar come back. The benchmark Sensex recovered over 500 points and Nifty index recouped over 150 points from their days low. This swift recovery was seen after the momentum stocks like RPL, Bharti, ACC, Bajaj Auto and Rcom witnessed buying interest. Also a recovery in the Hang Seng index in Hong Kong lifted to sentiments partially. Finally, the 30-share Sensex closed at 15,923 losing 51 points. While the NSE Nifty added 29 points to close at 4,800.
Overall about 753 stocks advanced, 1,910 stocks declined while 44 stocks remained unchanged. Among the BSE 30 index 16 stocks advanced while 14 stocks declined.
Among the BSE Sectoral indices; BSE Metal index (up 2.2%), BSE Oil & Gas index (up 2%) and Auto index (up 0.5%). However, the BSE Capital Good index (down 4.8%) and the BSE Power index (down 2%).
Ceat rallied by over 12% to Rs140 after the company said that it would sell Mumbai Land for Rs1.3bn and would develop 6.91 acres of land with Ashford Infotech in Mumbai. The scrip touched an intra-day high of Rs150 and a low of Rs115 and recorded volumes of over 40,000 shares on BSE.
L&T plummeted by over 8% to Rs2728 after media reports stated that the company’s overseas arm may incur a loss of rs2bn from commodity trading. The scrip touched an intra-day high of Rs2950 and a low of Rs2610 and recorded volumes of over 34,00,000 shares on NSE.
Hindustan Zinc slipped by 3.5% to Rs575. The company announced that it increased lead prices by Rs1,300, or 0.9%, to Rs149,600 per metric ton from March 8. The price of zinc was left unchanged at Rs127,300 a ton. The scrip touched an intra-day high of Rs600 and a low of Rs558 and has recorded volumes of over 1,00,000 shares on NSE.
Mastek slipped by 0.5% to Rs264 as the company on March 08, 2008 announced that it acquired Systems Task Group (STG) International Ltd. This acquisition is the second such initiative by Mastek during the current financial year, and follows the acquisition of another insurance-focused IT Company Vector Insurance Services in July 2007. The scrip touched an intra-day high of Rs264 and a low of Rs247 and recorded volumes of over 15,000 shares on NSE.
Gitanjali Gems slipped by over 6% to Rs264. The company announced that it acquired "Renaissance Retail Venture Pvt Ltd" (RRVPL) through its wholly owned subsidiary Gitanjali Lifestyle Ltd. The company announced that it set up subsidiary for gold loans. The scrip has touched an intra-day high of Rs273 and a low of Rs258 and recorded volumes of over 2,00,000 shares on NSE.
UTV Software gained by 1.5% to Rs810 after the company announced that its founder Screwvala has raised stake in the company. The scrip touched an intra-day high of Rs810 and a low of Rs785 and recorded volumes of over 77,000 shares on NSE.
BEML also recovered by almost 3% from its lows and ended down by only 1% to Rs1118 after the company said that it would set up Assembly plant in Brazil for Earthmoving gear and its German Venture will build rail coaches, equipment. The scrip touched an intra-day high of Rs1150 and a low of Rs1072 and recorded volumes of over 16,000 shares on NSE.
KEC International jumped by over 13% to Rs770 after the company said they won US$120.7mn contract from Saudi Electric. The scrip has touched an intra-day high of Rs815 and a low of Rs617 and recorded volumes of over 16,000 shares on NSE.
Dr Reddy’s Lab gained by a percent to Rs575 after the company said that it entered into drug discovery collaboration with 7TM Pharma. The scrip touched an intra-day high of Rs579 and a low of Rs476 and recorded volumes of over 1,00,000 shares on NSE.
Gujarat Fluorochemicals surged by over 8% to Rs207 after the company said that it would consider buyback of shares ion March 21. The scrip touched an intra-day high of Rs220 and a low of Rs183 and recorded volumes of over 74,000 shares on NSE.
Aban Offshore was down by over 5% to Rs3461. The company said that it would raise Rs1.94bn selling shares. The scrip touched an intra-day high of Rs3612 and a low of Rs3399 and recorded volumes of over 1,00,000 shares on NSE.
Whats In
Private oil Companies, Reliance Industries, Essar Oil and Shell India, have filed a joint petition against the PSU oil companies for indulging in unfair and restrictive trade practices in the sale of transportation fuels.
Bajaj Auto Finance may spin off two-wheeler financing business as a subsidiary of Bajaj Auto.
Aban Offshore plans to raise funds to the tune of Rs1.94bn through issue of securities under private placement basis.
Videocon Industries is making an initial investment of Rs60bn for rolling out GSM services.
JSW Steel will issue one equity share for every 22 held in Southern Iron and Steel Co. for their merger .
Tata Chemicals plans to borrow US$850mn to fund purchase of US based General Chemical Industrial Products Inc.
Sobha Developers plans to take up 12 million square feet of development during fiscal 2008-09 for about Rs22bn.
The Mukesh Ambani-controlled Navi Mumbai SEZ has been charged with indulging in illegal land-filling activity.
Cals Refineries is in talks with BP for a crude supply and product offtake deal.
Triton Corp is close to acquiring a UK based IT &Telecom services firm for a consideration of ~Rs4.8bn.
TVS Motor has re-launched Flame, a 125cc motorbike, with a single-spark plug ignition system.
Reliance Energy's Board has approved the change of the company’s name to Reliance Infrastructure Ltd.
The move to withdraw tax holiday to new refineries will result in lowering of profitability of IOC’s Rs240bn Paradip refinery.
Shah Alloys is reported to be in talks with Posco’s Indian subsidiary, Posco India, for a possible tie-up.
Ferro Silicon and Indsil Electrosmelts have entered into a JV with GoodEarth Group of companies to operate a mine in Indonesia.
M&M group is close to finalizing a JV with an international fresh produce supply-chain heavyweight through Mahindra ShubhLaabh Services.
Electrotherm, an Ahmedabad-based manufacturer of steel and electric bikes, is embarking on a Rs3bn expansion plan.
Ceat expects to hike raise tyre prices by 2-3% in April to offset higher raw material prices.
Maruti Suzuki India has inked a pact with Shriram City Union Finance.
Country Club India is contemplating merging or acquiring its associate companies
Royal Orchid Hotels is all set to open the first Ramada hotel brand in India next month.
RCF plans to earn carbon credits from phospho-gypsum, a by-product of its manufacturing process.
Reliance General Insurance, the third largest player in terms of gross premium, clocked a 125% growth in business last year.
Taj-GVK Hotels would open a star hotel in Chennai, fifth for the Group, in May.
Congnizant has signed a US$05mn agreement with AstraZeneca.
Economic News
The amount of loans to small and marginal farmers that commercial banks, cooperatives and regional rural banks have been asked to waive is likely to be slightly over Rs230bn less than half that estimated by Finance Minister P Chidambaram in his Budget speech.
Tractor manufacturers in north India have decided to increase prices in the next financial year.
The petroleum ministry has asked the finance ministry for clarification on the proposal to withdraw the 7-year income tax holiday on production of oil and gas with effect from April 1.
Telecom Minister A Raja has told Parliament that there is no “contractual agreement” between government and telecom operators to allot spectrum beyond 6.2 MHz.
The RBI has directed banks to permit customers of one bank free use of ATMs of other banks for all transactions from April 1, 2009.
Japan has extended a Rs70.7bn long-tenure loan at low-interest to fund India’s infrastructure investments.
New consumer price index is likely to be launched by May 2009.
Finance Minister P Chidambaram has said he will inform the Parliament on Friday how the government would compensate banks for the losses incurred on account of the farm loan waiver worth Rs600bn.
The Government has postponed the last date of bidding for oil and gas blocks offered under the latest round of Nelp to April 25.
The Government is planning to fund the farm loan waiver package over the next 24 months and at least 25% of the total Rs600bn package will be met through government borrowings.
India's leading GSM-based mobile operators added 5.9mn users in February 2008.
tax holiday for software technology parks is unlikely to be extended beyond March 2009.
Sugar production during Oct-Feb’08 remained almost flat at 16.9mn tons.
Despite a sharp fall in the early trades, markets staged a stellar come back. The benchmark Sensex recovered over 500 points and Nifty index recouped over 150 points from their days low. This swift recovery was seen after the momentum stocks like RPL, Bharti, ACC, Bajaj Auto and Rcom witnessed buying interest. Also a recovery in the Hang Seng index in Hong Kong lifted to sentiments partially. Finally, the 30-share Sensex closed at 15,923 losing 51 points. While the NSE Nifty added 29 points to close at 4,800.
Overall about 753 stocks advanced, 1,910 stocks declined while 44 stocks remained unchanged. Among the BSE 30 index 16 stocks advanced while 14 stocks declined.
Among the BSE Sectoral indices; BSE Metal index (up 2.2%), BSE Oil & Gas index (up 2%) and Auto index (up 0.5%). However, the BSE Capital Good index (down 4.8%) and the BSE Power index (down 2%).
Ceat rallied by over 12% to Rs140 after the company said that it would sell Mumbai Land for Rs1.3bn and would develop 6.91 acres of land with Ashford Infotech in Mumbai. The scrip touched an intra-day high of Rs150 and a low of Rs115 and recorded volumes of over 40,000 shares on BSE.
L&T plummeted by over 8% to Rs2728 after media reports stated that the company’s overseas arm may incur a loss of rs2bn from commodity trading. The scrip touched an intra-day high of Rs2950 and a low of Rs2610 and recorded volumes of over 34,00,000 shares on NSE.
Hindustan Zinc slipped by 3.5% to Rs575. The company announced that it increased lead prices by Rs1,300, or 0.9%, to Rs149,600 per metric ton from March 8. The price of zinc was left unchanged at Rs127,300 a ton. The scrip touched an intra-day high of Rs600 and a low of Rs558 and has recorded volumes of over 1,00,000 shares on NSE.
Mastek slipped by 0.5% to Rs264 as the company on March 08, 2008 announced that it acquired Systems Task Group (STG) International Ltd. This acquisition is the second such initiative by Mastek during the current financial year, and follows the acquisition of another insurance-focused IT Company Vector Insurance Services in July 2007. The scrip touched an intra-day high of Rs264 and a low of Rs247 and recorded volumes of over 15,000 shares on NSE.
Gitanjali Gems slipped by over 6% to Rs264. The company announced that it acquired "Renaissance Retail Venture Pvt Ltd" (RRVPL) through its wholly owned subsidiary Gitanjali Lifestyle Ltd. The company announced that it set up subsidiary for gold loans. The scrip has touched an intra-day high of Rs273 and a low of Rs258 and recorded volumes of over 2,00,000 shares on NSE.
UTV Software gained by 1.5% to Rs810 after the company announced that its founder Screwvala has raised stake in the company. The scrip touched an intra-day high of Rs810 and a low of Rs785 and recorded volumes of over 77,000 shares on NSE.
BEML also recovered by almost 3% from its lows and ended down by only 1% to Rs1118 after the company said that it would set up Assembly plant in Brazil for Earthmoving gear and its German Venture will build rail coaches, equipment. The scrip touched an intra-day high of Rs1150 and a low of Rs1072 and recorded volumes of over 16,000 shares on NSE.
KEC International jumped by over 13% to Rs770 after the company said they won US$120.7mn contract from Saudi Electric. The scrip has touched an intra-day high of Rs815 and a low of Rs617 and recorded volumes of over 16,000 shares on NSE.
Dr Reddy’s Lab gained by a percent to Rs575 after the company said that it entered into drug discovery collaboration with 7TM Pharma. The scrip touched an intra-day high of Rs579 and a low of Rs476 and recorded volumes of over 1,00,000 shares on NSE.
Gujarat Fluorochemicals surged by over 8% to Rs207 after the company said that it would consider buyback of shares ion March 21. The scrip touched an intra-day high of Rs220 and a low of Rs183 and recorded volumes of over 74,000 shares on NSE.
Aban Offshore was down by over 5% to Rs3461. The company said that it would raise Rs1.94bn selling shares. The scrip touched an intra-day high of Rs3612 and a low of Rs3399 and recorded volumes of over 1,00,000 shares on NSE.
Whats In
Private oil Companies, Reliance Industries, Essar Oil and Shell India, have filed a joint petition against the PSU oil companies for indulging in unfair and restrictive trade practices in the sale of transportation fuels.
Bajaj Auto Finance may spin off two-wheeler financing business as a subsidiary of Bajaj Auto.
Aban Offshore plans to raise funds to the tune of Rs1.94bn through issue of securities under private placement basis.
Videocon Industries is making an initial investment of Rs60bn for rolling out GSM services.
JSW Steel will issue one equity share for every 22 held in Southern Iron and Steel Co. for their merger .
Tata Chemicals plans to borrow US$850mn to fund purchase of US based General Chemical Industrial Products Inc.
Sobha Developers plans to take up 12 million square feet of development during fiscal 2008-09 for about Rs22bn.
The Mukesh Ambani-controlled Navi Mumbai SEZ has been charged with indulging in illegal land-filling activity.
Cals Refineries is in talks with BP for a crude supply and product offtake deal.
Triton Corp is close to acquiring a UK based IT &Telecom services firm for a consideration of ~Rs4.8bn.
TVS Motor has re-launched Flame, a 125cc motorbike, with a single-spark plug ignition system.
Reliance Energy's Board has approved the change of the company’s name to Reliance Infrastructure Ltd.
The move to withdraw tax holiday to new refineries will result in lowering of profitability of IOC’s Rs240bn Paradip refinery.
Shah Alloys is reported to be in talks with Posco’s Indian subsidiary, Posco India, for a possible tie-up.
Ferro Silicon and Indsil Electrosmelts have entered into a JV with GoodEarth Group of companies to operate a mine in Indonesia.
M&M group is close to finalizing a JV with an international fresh produce supply-chain heavyweight through Mahindra ShubhLaabh Services.
Electrotherm, an Ahmedabad-based manufacturer of steel and electric bikes, is embarking on a Rs3bn expansion plan.
Ceat expects to hike raise tyre prices by 2-3% in April to offset higher raw material prices.
Maruti Suzuki India has inked a pact with Shriram City Union Finance.
Country Club India is contemplating merging or acquiring its associate companies
Royal Orchid Hotels is all set to open the first Ramada hotel brand in India next month.
RCF plans to earn carbon credits from phospho-gypsum, a by-product of its manufacturing process.
Reliance General Insurance, the third largest player in terms of gross premium, clocked a 125% growth in business last year.
Taj-GVK Hotels would open a star hotel in Chennai, fifth for the Group, in May.
Congnizant has signed a US$05mn agreement with AstraZeneca.
Economic News
The amount of loans to small and marginal farmers that commercial banks, cooperatives and regional rural banks have been asked to waive is likely to be slightly over Rs230bn less than half that estimated by Finance Minister P Chidambaram in his Budget speech.
Tractor manufacturers in north India have decided to increase prices in the next financial year.
The petroleum ministry has asked the finance ministry for clarification on the proposal to withdraw the 7-year income tax holiday on production of oil and gas with effect from April 1.
Telecom Minister A Raja has told Parliament that there is no “contractual agreement” between government and telecom operators to allot spectrum beyond 6.2 MHz.
The RBI has directed banks to permit customers of one bank free use of ATMs of other banks for all transactions from April 1, 2009.
Japan has extended a Rs70.7bn long-tenure loan at low-interest to fund India’s infrastructure investments.
New consumer price index is likely to be launched by May 2009.
Finance Minister P Chidambaram has said he will inform the Parliament on Friday how the government would compensate banks for the losses incurred on account of the farm loan waiver worth Rs600bn.
The Government has postponed the last date of bidding for oil and gas blocks offered under the latest round of Nelp to April 25.
The Government is planning to fund the farm loan waiver package over the next 24 months and at least 25% of the total Rs600bn package will be met through government borrowings.
India's leading GSM-based mobile operators added 5.9mn users in February 2008.
tax holiday for software technology parks is unlikely to be extended beyond March 2009.
Sugar production during Oct-Feb’08 remained almost flat at 16.9mn tons.
Monday, March 10, 2008
Subscribe to know more Add sheth_jg@yahoo.com
NIFTY DAILY BASED :RESI.-4815-4997-5180-5360 SUPORT-4635-4460-4295
NIFTY WEEKLY BASED-RESI-4790-5180-5573 SUPPORT-4395-4020
NIFTY MONTHLY BASED:RESI-4956-5423 SUPPORT-4491--3925
Market is on a deciding level... 4710 - 4720 ....
Break of 4710 and trade below this will be a highly alert signal....
On the downside after break of 4710 I see a minor support at 4630 break of this take can take Nifty to 4400 in near term
On the upside we find a resistance at 4863 break of this can take to 4950
Trading Strategy --- Not necessary to trade everyday to be safe better avoid the day, because tomorrow may take any side. In both the cases (buy or sell) you can be trapped, if playing either Hedge it
Pick No 1 - Suzlon (CMP 247.45) --- Wait for the market to stable first market, and then look to buy around 244 - 245.. final stop loss and target only to clients.
Pick No 2 - Hindustan Construction (CMP 147.55) --- Wait for the market to stable first market, and then look to buy around 145 - 146.. final stop loss and target only to clients.
Indian Markets continued the slide given the weak global markets and lack of retail participation and We expect a bounce back today after an initial slide.Nifty March
Futures have witnessed addition of fresh short positions. March
Futures added 14 lakh shares in open interest along with a
significant increase in discount from 17.30 points to 45.35 points.
On the Options front, both Call and Put options witnessed fresh
buying keeping the direction undetermined. However, Nifty 4700
Put and Call options have seen highest addition of open interest
at 4.65 and 4.72 lakh shares respectively along with an increase
in implied volatility
We have a Volatile view on Nifty; we recommend a Long Straddle strategy
o Buy One Nifty Mar 4700 CE @ 210 – 215
o Buy One Nifty Mar 4700 PE @ 190-195
o UBEP: 5110; LBEP: 4290; SL: 250 (total premium)
o Investment: Rs. 20500
o Time Frame: Expiry
Stock in Action -
1.) ICICI Bank: ICICI bank Feb Futures witnessed closure of long position and fresh build up of short position in the
last trading session. The stock had seen 2.29 percent addition in open interest with cost of carry turned negative to
4.90 percent from 3.28 percent. Short positions can be assumed in the stock at 895-902 levels with a stop loss
placed at above 915 for targets of 870 and 850 levels.
2.) SBIN: The stock shed -2.83 percent in open interest along with a decrease in cost of carry from 7.76 percent to -
0.94 percent indicating closure of long positions. Short position can be assumed in the stock below 1840 levels for
targets of 1800 and 1770 levels with final stop loss placed at 1862 levels.
3.) Rel Capital: Rel Capital Futures have witnessed 7.31 percent decrease in open interest along with a decrease in
cost of carry from 6.37percent to -8.37 percent indicating closure of long positions and fresh build up of short
positions. Short positions in the stock can be assumed at 1410-1425 levels for targets of 1350 and 1310 levels with a
final stop loss placed above 1450 levels
4.) RPower: RPower has witnessed fresh build up of short positions in Friday’s trade. The stock has seen 19.15
percent addition in open interest with a steep fall in cost of carry from -5.74 percent to -44.16 percent. The stock
made it life time low at 330 levels in the last trading session. Short position can be assumed in stock below 330
levels for targets of 315 and 305 levels with a final stop loss placed above 342 levels.
5) REL: The stock shed 0.45 percent in open interest and fell by 13 percent in last trading session suggesting
closure of long positions in the stock. Short positions can be assumed in stock if it doesn’t hold 1250 levels for
downside targets of 1200 and 1180 levels with final stop loss placed at 1280 levels.
6) Maruti: The stock witnessed fresh build up of long positions in Friday’s trade. The stock has seen 3.62 percent
addition in open interest with cost of carry remained flat. Long position can be assumed in the stock on correction at
895-902 levels for upside targets of 920 and 935 levels with a final stop loss placed at 880 levels.
7) Bajaj Auto: Bajaj Auto had witnessed fresh accumulation of short positions in Friday’s trading session. The stock
has seen 9.40 percent addition in open interest with decrease in cost of carry from 0.47 percent to -3.77 percent.
Short position can be assumed in stock at 1890-1910 levels for downside targets of 1830 and 1800 levels with final
stop loss placed above 1950 levels.
8) Sterlite: STER has seen fresh build up of long position in last trading session. The stock had seen 5.96 percent
addition in open interest with cost of carry decreased marginally to 1.57 percent. Long position can be assumed in
stock at 730-740 for targets of 765 and 780 levels with final stop loss placed at 715 levels.
NIFTY WEEKLY BASED-RESI-4790-5180-5573 SUPPORT-4395-4020
NIFTY MONTHLY BASED:RESI-4956-5423 SUPPORT-4491--3925
Market is on a deciding level... 4710 - 4720 ....
Break of 4710 and trade below this will be a highly alert signal....
On the downside after break of 4710 I see a minor support at 4630 break of this take can take Nifty to 4400 in near term
On the upside we find a resistance at 4863 break of this can take to 4950
Trading Strategy --- Not necessary to trade everyday to be safe better avoid the day, because tomorrow may take any side. In both the cases (buy or sell) you can be trapped, if playing either Hedge it
Pick No 1 - Suzlon (CMP 247.45) --- Wait for the market to stable first market, and then look to buy around 244 - 245.. final stop loss and target only to clients.
Pick No 2 - Hindustan Construction (CMP 147.55) --- Wait for the market to stable first market, and then look to buy around 145 - 146.. final stop loss and target only to clients.
Indian Markets continued the slide given the weak global markets and lack of retail participation and We expect a bounce back today after an initial slide.Nifty March
Futures have witnessed addition of fresh short positions. March
Futures added 14 lakh shares in open interest along with a
significant increase in discount from 17.30 points to 45.35 points.
On the Options front, both Call and Put options witnessed fresh
buying keeping the direction undetermined. However, Nifty 4700
Put and Call options have seen highest addition of open interest
at 4.65 and 4.72 lakh shares respectively along with an increase
in implied volatility
We have a Volatile view on Nifty; we recommend a Long Straddle strategy
o Buy One Nifty Mar 4700 CE @ 210 – 215
o Buy One Nifty Mar 4700 PE @ 190-195
o UBEP: 5110; LBEP: 4290; SL: 250 (total premium)
o Investment: Rs. 20500
o Time Frame: Expiry
Stock in Action -
1.) ICICI Bank: ICICI bank Feb Futures witnessed closure of long position and fresh build up of short position in the
last trading session. The stock had seen 2.29 percent addition in open interest with cost of carry turned negative to
4.90 percent from 3.28 percent. Short positions can be assumed in the stock at 895-902 levels with a stop loss
placed at above 915 for targets of 870 and 850 levels.
2.) SBIN: The stock shed -2.83 percent in open interest along with a decrease in cost of carry from 7.76 percent to -
0.94 percent indicating closure of long positions. Short position can be assumed in the stock below 1840 levels for
targets of 1800 and 1770 levels with final stop loss placed at 1862 levels.
3.) Rel Capital: Rel Capital Futures have witnessed 7.31 percent decrease in open interest along with a decrease in
cost of carry from 6.37percent to -8.37 percent indicating closure of long positions and fresh build up of short
positions. Short positions in the stock can be assumed at 1410-1425 levels for targets of 1350 and 1310 levels with a
final stop loss placed above 1450 levels
4.) RPower: RPower has witnessed fresh build up of short positions in Friday’s trade. The stock has seen 19.15
percent addition in open interest with a steep fall in cost of carry from -5.74 percent to -44.16 percent. The stock
made it life time low at 330 levels in the last trading session. Short position can be assumed in stock below 330
levels for targets of 315 and 305 levels with a final stop loss placed above 342 levels.
5) REL: The stock shed 0.45 percent in open interest and fell by 13 percent in last trading session suggesting
closure of long positions in the stock. Short positions can be assumed in stock if it doesn’t hold 1250 levels for
downside targets of 1200 and 1180 levels with final stop loss placed at 1280 levels.
6) Maruti: The stock witnessed fresh build up of long positions in Friday’s trade. The stock has seen 3.62 percent
addition in open interest with cost of carry remained flat. Long position can be assumed in the stock on correction at
895-902 levels for upside targets of 920 and 935 levels with a final stop loss placed at 880 levels.
7) Bajaj Auto: Bajaj Auto had witnessed fresh accumulation of short positions in Friday’s trading session. The stock
has seen 9.40 percent addition in open interest with decrease in cost of carry from 0.47 percent to -3.77 percent.
Short position can be assumed in stock at 1890-1910 levels for downside targets of 1830 and 1800 levels with final
stop loss placed above 1950 levels.
8) Sterlite: STER has seen fresh build up of long position in last trading session. The stock had seen 5.96 percent
addition in open interest with cost of carry decreased marginally to 1.57 percent. Long position can be assumed in
stock at 730-740 for targets of 765 and 780 levels with final stop loss placed at 715 levels.
Subscribe to:
Posts (Atom)