Subscribe to know more before you loose money
The benchmark indices, Sensex and Nifty, are expected to commence on a firm note and witness significant rally during intra-day trades, as international markets backed by firm US and Asian indices may help the sentiment remain buoyant. Among the Asian majors, Nikkei has surged 166 points at 12646 while Hang Seng has scaled up 782 points at 21890. On the technical front, the Nifty could test in the 4680-4700 range on the upside and has support at 4500, while the Sensex has a likely support at 15065 and may face resistance at 15470.
US indices posted steady gains on Monday with the Dow Jones moving 187 points up to close at 12549, while the Nasdaq added 69 points to close at 2327.
All the Indian floats had a decent outing on the US bourses. ICICI Bank was the biggest gainer and rose 13.10% while Rediff scaled up 9.60%. VSNL, Satyam, Infosys HDFC Bank, Tata Motors and Wipro jumped over 6-8% each while Patni Computers gained over 3%.
Crude oil prices in the US market moved up, with the Nymex Light crude oil for May 08 delivery moving down by 98 cents to close at $100.86 a barrel. In the Commodity segment, the Comex gold for April series lost $1.30 to settle at $918.70 a troy ounce.
Nifty 4610 Supp 4400 Res 4700
Buy Tata Motors (662) SL 657 Target 675, 680
Buy ACC (805) SL 798
Target 818, 823
Buy ICICI Bank (802) SL 795 Target 820, 825
Buy ITC (190) SL 186
Target 199, 203
Sell Century Tex (688) SL 695 Target 673, 669
FIIs were net buyers of Rs3.76bn (provisional) in the cash segment yesterday while local institutions pulled out Rs2.53bn. In the F&O segment, foreign funds were net buyers to the tune of Rs18bn yesterday. On March 19, FIIs were net buyers of Rs5.37bn in the cash segment while Mutual Funds offloaded shares worth Rs2.91bn on the same day.
Volatility to continue
It was strong start to the first session of the week. After coming back from one of the longest breaks Indian markets have taken in recent years, bulls staged a strong start despite weak cues from the Asian markets. Markets lost ground in the mid afternoon trades as selling pressure in the Metal and the Realty stocks dragged the benchmark Sensex to low of 15,056. However, staged a strong come back towards the fag end of the session, the index heavyweights like HDFC, Wipro, ICICI Bank and Hindustan Unilever led from the front
Finally, the BSE benchmark Sensex added 294 points to 15,289 and the Nifty index added 35 points to close at 4609. Overall about 563 stocks advanced; 2,121 stocks declined while 33 stocks remained unchanged. Among the 50 Nifty, 31 stocks ended in positive territory. On the other hand, 18 stocks ended in red.
GTL Ltd gained by half a percent to Rs236 after Vanu Inc on March 20, 2008 announced a strategic alliance with GTL LTD to address the Shared Active Infrastructure Services Market in India. The Company and Vanu Inc, is the leading software radio innovator for the wireless infrastructure industry. The scrip touched an intra-day high of Rs239 and a low of Rs230 and recorded volumes of over 56,000 shares on BSE.
Shree Cement was down by over 3% to Rs966. The company said that they have expanded clinker production capacity. The scrip touched an intra-day high of Rs989 and a low of Rs948.
Micro Technologies lost over 5% to Rs181. The company announced the launch of new and unique one pack solution of Premises Security product called the Micro ISS (Intelligent Surveillance System). The scrip touched an intra-day high of Rs191 and a low of Rs177 and recorded volumes of over 25,000 shares on BSE.
Great Offshore was down by a percent to Rs591. The Company said that they would consider buyback of shares on March 31. The scrip touched an intra-day high of Rs651 and a low of Rs573 and recorded volumes of over 27,000 shares on BSE.
Aurobindo Pharma edged lower by 0.2% to Rs248. The company announced that it signed agreement with TAD Italy. The scrip touched an intra-day high of Rs259 and a low of Rs241 and recorded volumes of over 85,000 shares on BSE.
Marico bounced back and gained by 1.2% to Rs62. The stock had initially slipped after the company said that they would discontinue distribution alliance with Indo Nissin. The scrip has touched an intra-day high of Rs63 and a low of Rs60 and recorded volumes of over 83,000 shares on BSE.
Petron Engineering advanced by 3% to Rs199 after the company announced that it secured Rs33.7mn contract. The scrip touched an intra-day high of Rs195 and a low of Rs184 and recorded volumes of over 49,000 shares on BSE.
Corporate News
Reliance Industries has decided to shut down all the petroleum retail outlets owned by it directly.
Reliance Industries is evaluating a plan to set up its third refinery at Jamnagar to reach a total capacity of 100mmtpa.
The Indian JV of Fiat and Tata Motors plans to invest Rs23.4bn in its Ranjangaon facility in Pune, taking the total investment to Rs40.4bn.
Oil India plans to go ahead with its IPO despite the stock market falling more than 29% from its peak in January.
Petronet LNG is keen to join existing coal bed methane projects in Australia and plans to bid for gas blocks in the next auction.
BPCL and GAIL will float a joint venture — God’s Own Gas Company (Go Gas) — for marketing CNG and piped gas in Kerala and Karnataka.
ICICI Bank has entered into a Rs11.5bn equity-cum-debt deal with Jaypee Infratech for the 165km Taj Expressway
Ranbaxy, Cipla and Aurobindo Pharma are in the race for the US$200mn South African government tender to supply anti-HIV drugs.
The NPPA has asked Cipla to pay Rs628.5mn as interest on alleged unpaid overcharged amounts in respect of four drugs
Cipla is developing a basket of combination-drugs, including medicines for allergic rhinitis, asthma and cardiac-problems for developed markets.
Cipla is set to launch the world’s first triple drug combination inhaler for patients of chronic obstructive pulmonary disease in India.
TCS has been selected to provide its flagship electronic signature platform for US-based Prudential Financial Inc.
The USFDA has asked the US subsidiary of Sun Pharma to withdraw many batches of its generic Metformin Hydrochloride tablets.
Tata Motors and Ford are expected to complete the Jaguar-Land Rover deal on March 26
Eicher Motors will replace its existing Skyline and Cruiser buses with a new range that will meet all specifications of the Indian bus-code.
Future group is all set to tie up with Cisco Systems to implement RFID technology across all its retail formats.
Emami Group, now in the midst of an expansion-diversification mode, plans to spend Rs2.5bn on its edible oils unit in Haldia.
GHCL’s Board has accorded an in-principle approval to spin off its home textile and retail businesses into separate units.
Punjab National Bank plans to raise fresh capital of Rs5bn by issuing upper tier-II bonds on a private placement basis.
Rain Group is expanding the capacity of its cement plant in Kurnool, by adding 1.5mn tons by May, besides augmenting its CPC production.
Madras Cements plans to expand cement capacity to 10 MTPA by Q2 FY09 and to increase grinding capacity by 1MTPA each at Kolaghat, Chennai and Salem facilities with an investment of Rs15.2bn.
Gulf Oil Corp has announced the launch of four-stroke motorcycle oil Gulf Pride 4T Plus 10W-30, a synthetic blend oil.
Allcargo Global Logistics has purchased a 650 ton capacity Leibherr-LR-1650 crawler crane and ordered 10 more crawler and telescopic cranes having 150-400 ton capacity.
Aarvee Denims is expecting to almost double its turnover in 2008-09 on the back of its Rs700mn expansion plan.
LIC has increased its stake in Reliance Communications to over 5%.
Nicholas Pharma has launched a pilot project in Rajasthan to take its drugs to rural areas where there is no proper public health system.
Raheja Developers will foray into hospitality sector with the Indian Hotels Company.
GMR group is diversifying in the real estate sector with a Rs33bn deal.
Aries Agro is targeting a turnover of Rs2bn during FY10 on the back of its proposed capacity expansion plans.
BP is likely to enter into a strategic tie-up with Cals, a Spice Energy holding company, for its proposed US$1bn refinery at Haldia.
Hyundai Motor plans to sell buses in India from 2009.
National Dairy Development Board has started the process of merging Mother Dairy Fruit & Vegetable and Dhara Vegetable Oil & Foods Co.
UK-based Cobra Beer targets to sell 20 mn cases in India by 2012 and will infuse US$80mn in setting up and acquiring new breweries.
LG Electronics is targeting to sell around 1.5mn refrigerators in 2008.
Economic News
The Centre is contemplating amending the land acquisition law to ensure adequate compensation to people whose lands are acquired. The Government also says that no agricultural and irrigated land should be taken for SEZs.
According to telecom regulator TRAI, India is set to become the second largest wireless network in the world in April.
The Government will raise Rs960bn from the market in April-September by issuing securities to part-finance its expenditure in 2008-09.
TRAI may rethink on phasing out access deficit charge this year.
Banks and financial institutions have settled NPAs of about Rs30bn in 2007-08 through the auction route, which is 25% less than last year.
Five million DTH subscribers may be able to switch from their current service providers to new players by installing an add-on device.
The NHAI has projected an expenditure of Rs280bn for FY09 to complete its ongoing projects and the new projects announced under NHDP.
The Government warned telecom companies to put the required security system in place within 15 days or stop the Blackberry services.
Aluminium prices have been reduced by Rs10,000 per ton from March 20.
Coal production in the 11th Five Year Plan period is expected to increase by 680mn tons from 460mn tons.
Orthodox tea production during the next five years is expected to touch 130mn kg from 80mn kg.
The Government is considering cutting import duty on soya oil.
The Government is mulling the abolition of import duty on all grades of steel.
Steel manufacturers say they would reduce prices provided the excise duty on the alloy is brought down to a reasonable level
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 25, 2008
Monday, March 24, 2008
Welcome back…Nothing stable
It’s one of the longest breaks the Indian markets have taken in recent years. Hope you are recharged for a choppy week ahead.
For the day, we expect a positive start but trading will turn choppy ahead of Thursday's F&O expiry.
So, one still needs to be wary. And, though select buying can be done in quality scrips volatility and uncertainty are here to stay. The next set of earnings will be crucial. Interest rates may not soften due to high inflation. The Indian economy will slow down in FY09. So, the fight between the bulls and bears will continue.
The Indian Market is likely to have a positive opening today as he global markets are in favor. On Wednesday, pared most of its initial gains on the back of heavy profit booking across the sectoral indices towards the final trading hours of the session. The domestic market opened with a bang and created a rally across the sectoral indices on the back of favoring cues from the global markets like interest rate cut by US Federal Reserve and better than expected strong performance from- Goldman Sachs Group and Lehman Brothers Holdings, the two major investment banks. But the market was unable to sustained at higher levels and gave up most of its initial gains on the back of long holiday. The BSE Sensex closed higher by 161.37 points at 14,994.83 and NSE Nifty grew by 40.95 points to close 4573.95. We expect that the market may remain choppy during the trading session.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 261.66 points at 12,361.32. The S&P 500 (SPX) index grew by 31.09 points to close at 1,329.51 and NASDAQ Composite (RIXF) increased by 48.15 points to close at 2,258.11.
The Indian ADRS closed in positive. In technology sector, Wipro grew by (4%) along with Patni Computers by (3.75%), Satyam by (1.66%) and Infosys by (1.50%). In banking sector, HDFC bank and ICICI bank increased by (2.58%) and (1.21%) respectively. In telecommunication sector, Tata Communication and MTNL advanced by (3.47%) and (0.41%) respectively.
Today the major stock markets in Asia are trading firm. Taiwan Weighted is trading higher by 344.84 points at 8,869.83 along with Japan’s Nikkei trading up by 46.33 points at 12,528.90 and Singapore Strait Times trading at 2,891.02 up by 66.11 points. South Korea Seoul Composite is trading marginally higher by 7.26 points at 1,652.95.
The FIIs on Wednesday stood as net seller both in equity as well as debt. The gross equity purchased was Rs4,701.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs5,389.10 Crore and gross debt sold stood at Rs148.20 Crore. Therefore, the net investment of equity reported was (Rs687.80 Crore) and net debt was (Rs148.20 Crore).
The Wholesale Price index rose to an 11-month high of 5.92%. The WPI-based inflation increased sharply on account of spurt in prices across the board, with cereals (6.28%), milk (9.71%), vegetables (9.79%), dairy products (9.31%), cement (5.13%), iron and steel (20.87%) and edible oils (17.52%). By seeing this growth in inflation, the Indian government has reduced customs duty on rice and edible oils drastically to rein in their prices in domestic market. The customs duty on rice has been cut to nil from 70% earlier as well as duties on all crude and refined edible oils were also slashed from the existing levels of 52% and 75% to 20% and 27.5% respectively.
Today, Nifty has support at 4,471 and resistance at 4,708 and BSE Sensex has support at 14,623 and resistance at 15,312Buy : Ongc & Gail at dips
Buy : RIL & Relcap at dips
Buy : HLL & ITC
Buy : Geship & Balrampur
Buy : HDFC
Buy : Nalco
Dark Horse : Skumar , ONGC , Kohinoor , RIL , LT , ITC & HLL
Corporate Front Page
BSNL and MTNL get DoT approval to launch nationwide CDMA services
Coal India to invest Rs15bn to set up 28 washeries in its subsidiaries in the 11th plan
BHEL likely to invest Rs50bn over the next three years on its JV with NTPC and Nuclear Power Corporation
Time Warner promoted AOL may be selling its call centre business to the BPO arm of Essar group for US$100mn
NTPC to invest Rs44bn for setting up a 750MW coal-based thermal power project in Assam
Aban Offshore receives an order for rig deployment in the Middle East forUS$300mn
Maruti Suzuki to invest Rs90bn, mostly in non-vehicle manufacturing areas like R&D, logistics amongst others
GMR Infrastructure led consortium takes charge of Turkey’s Sabiha Gocken International airport for development
JSW Energy proposes to set up a 1,320MW power plant in Madhya Pradesh
Sun Pharmaceuticals gets FDA approval to market generic drug Cerebyx used during neuro-surgery
Ispat Industries promoted Global Steel Holdings signs up mining leases for iron ore and coal reserves in Brazil, Colombia and Mozambique
State owned NMDC in talks with Canada’s New Millennium Capital Corp for an US$3.5bn iron ore project
Telekom Malaysia to transfer its stake in Spice into a separate company, likely to be called Telekom International.
Cochin International Airport, which runs Kochi international airport, plans to raise Rs25bn through an IPO in 2009
Reliance Infrastructure plans strategic alliance with Indiabulls Real Estate for development of latter’s SEZ in Maharashtra
ArcelorMittal plans to develop coal mines; seeks JV with Coal India
Petronet LNG on the look out for stakes in Australian gas fields
Unitech may look to ‘monetize’ its upcoming hotel business within 2.5 years of operations; options include listing, sale of assets or hotel REIT
PNB expects to get Rs20bn from the government in the financial year beginning April for farm loan waiver
Power Grid Corp to get a US$600mn loan from the World Bank to strengthen its network
Elecon Engineering on look out for an acquisition in US or Europe in the range of Rs3-4bn
CALS Refineries, promoted by Spice group signs MoU with West Bengal Industrial Development Corp. and Haldia Development Authority for an Rs200bn refinery project in Haldia
Champagne Indage acquires Australian Vintage’s Loxton winery for Rs2.3bn
Blue Dart to increase warehousing capacity to 2mn sq.ft
Rajasthan government stops work on a Cairn India pipeline; says it would result in loss of tax revenues to the state
Amtek Auto to produce 5,000 railway wagons in a JV with a North American wagon supplier
Essar Communications Holdings arm to invest US$450mn to rollout telecom services in Kenya
Lehman Brothers and Deutsche Bank to invest US$500mn in Unitech SPV.
Ranbaxy suffers setback as a Canadian court upholds Pfizer patent for a molecule of cholesterol-lowering drug Lipitor
George Soros buys 2.5% stake in Indiabulls Real Estate for Rs2.8bn
Kribhco plans a Rs40bn power project in Bihar
Economic News
Inflation rises to eleven month high of 5.92%; government cuts import duty on edible oil and rice
DoT says all players can bid up to 10MHz of 3G spectrum rejecting TRAI’s recommendation on the same
Core sector growth halved to 4.2% in January with decline in crude production
Government may consider a proposal to levy 10% export duty on all grades of finished steel
Government proposes cess of up to 6% on coal with high ash content
India expected to attract FDI worth Rs1tn in mining exploration of gold and diamond
Sugar production in Uttar Pradesh is expected to drop by 15% to 7.2mn tons in current crushing season
Sixth Pay Commission recommendations are expected to be submitted to the finance ministry early next week
Non-food credit growth slows down to 21.8% during April-February 2007-08 compared with 29.6% a year ago
Central government staff may get a 50% pay hike
Fiscal deficit for quarter ended December declined to Rs776bn from Rs949bn a year ago
Domestic aviation growth in 2007 declines to 11.5% from more than 32% in the previous year
I&B Ministry considering TRAI proposals to lower license fees for DTH players from 10% to 6%.
Five SEZs projects get approval with four in the IT sector.
Insurance regulator IRDA may limit insurance companies’ investment in mortgage backed securities to 10%
For the day, we expect a positive start but trading will turn choppy ahead of Thursday's F&O expiry.
So, one still needs to be wary. And, though select buying can be done in quality scrips volatility and uncertainty are here to stay. The next set of earnings will be crucial. Interest rates may not soften due to high inflation. The Indian economy will slow down in FY09. So, the fight between the bulls and bears will continue.
The Indian Market is likely to have a positive opening today as he global markets are in favor. On Wednesday, pared most of its initial gains on the back of heavy profit booking across the sectoral indices towards the final trading hours of the session. The domestic market opened with a bang and created a rally across the sectoral indices on the back of favoring cues from the global markets like interest rate cut by US Federal Reserve and better than expected strong performance from- Goldman Sachs Group and Lehman Brothers Holdings, the two major investment banks. But the market was unable to sustained at higher levels and gave up most of its initial gains on the back of long holiday. The BSE Sensex closed higher by 161.37 points at 14,994.83 and NSE Nifty grew by 40.95 points to close 4573.95. We expect that the market may remain choppy during the trading session.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 261.66 points at 12,361.32. The S&P 500 (SPX) index grew by 31.09 points to close at 1,329.51 and NASDAQ Composite (RIXF) increased by 48.15 points to close at 2,258.11.
The Indian ADRS closed in positive. In technology sector, Wipro grew by (4%) along with Patni Computers by (3.75%), Satyam by (1.66%) and Infosys by (1.50%). In banking sector, HDFC bank and ICICI bank increased by (2.58%) and (1.21%) respectively. In telecommunication sector, Tata Communication and MTNL advanced by (3.47%) and (0.41%) respectively.
Today the major stock markets in Asia are trading firm. Taiwan Weighted is trading higher by 344.84 points at 8,869.83 along with Japan’s Nikkei trading up by 46.33 points at 12,528.90 and Singapore Strait Times trading at 2,891.02 up by 66.11 points. South Korea Seoul Composite is trading marginally higher by 7.26 points at 1,652.95.
The FIIs on Wednesday stood as net seller both in equity as well as debt. The gross equity purchased was Rs4,701.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs5,389.10 Crore and gross debt sold stood at Rs148.20 Crore. Therefore, the net investment of equity reported was (Rs687.80 Crore) and net debt was (Rs148.20 Crore).
The Wholesale Price index rose to an 11-month high of 5.92%. The WPI-based inflation increased sharply on account of spurt in prices across the board, with cereals (6.28%), milk (9.71%), vegetables (9.79%), dairy products (9.31%), cement (5.13%), iron and steel (20.87%) and edible oils (17.52%). By seeing this growth in inflation, the Indian government has reduced customs duty on rice and edible oils drastically to rein in their prices in domestic market. The customs duty on rice has been cut to nil from 70% earlier as well as duties on all crude and refined edible oils were also slashed from the existing levels of 52% and 75% to 20% and 27.5% respectively.
Today, Nifty has support at 4,471 and resistance at 4,708 and BSE Sensex has support at 14,623 and resistance at 15,312Buy : Ongc & Gail at dips
Buy : RIL & Relcap at dips
Buy : HLL & ITC
Buy : Geship & Balrampur
Buy : HDFC
Buy : Nalco
Dark Horse : Skumar , ONGC , Kohinoor , RIL , LT , ITC & HLL
Corporate Front Page
BSNL and MTNL get DoT approval to launch nationwide CDMA services
Coal India to invest Rs15bn to set up 28 washeries in its subsidiaries in the 11th plan
BHEL likely to invest Rs50bn over the next three years on its JV with NTPC and Nuclear Power Corporation
Time Warner promoted AOL may be selling its call centre business to the BPO arm of Essar group for US$100mn
NTPC to invest Rs44bn for setting up a 750MW coal-based thermal power project in Assam
Aban Offshore receives an order for rig deployment in the Middle East forUS$300mn
Maruti Suzuki to invest Rs90bn, mostly in non-vehicle manufacturing areas like R&D, logistics amongst others
GMR Infrastructure led consortium takes charge of Turkey’s Sabiha Gocken International airport for development
JSW Energy proposes to set up a 1,320MW power plant in Madhya Pradesh
Sun Pharmaceuticals gets FDA approval to market generic drug Cerebyx used during neuro-surgery
Ispat Industries promoted Global Steel Holdings signs up mining leases for iron ore and coal reserves in Brazil, Colombia and Mozambique
State owned NMDC in talks with Canada’s New Millennium Capital Corp for an US$3.5bn iron ore project
Telekom Malaysia to transfer its stake in Spice into a separate company, likely to be called Telekom International.
Cochin International Airport, which runs Kochi international airport, plans to raise Rs25bn through an IPO in 2009
Reliance Infrastructure plans strategic alliance with Indiabulls Real Estate for development of latter’s SEZ in Maharashtra
ArcelorMittal plans to develop coal mines; seeks JV with Coal India
Petronet LNG on the look out for stakes in Australian gas fields
Unitech may look to ‘monetize’ its upcoming hotel business within 2.5 years of operations; options include listing, sale of assets or hotel REIT
PNB expects to get Rs20bn from the government in the financial year beginning April for farm loan waiver
Power Grid Corp to get a US$600mn loan from the World Bank to strengthen its network
Elecon Engineering on look out for an acquisition in US or Europe in the range of Rs3-4bn
CALS Refineries, promoted by Spice group signs MoU with West Bengal Industrial Development Corp. and Haldia Development Authority for an Rs200bn refinery project in Haldia
Champagne Indage acquires Australian Vintage’s Loxton winery for Rs2.3bn
Blue Dart to increase warehousing capacity to 2mn sq.ft
Rajasthan government stops work on a Cairn India pipeline; says it would result in loss of tax revenues to the state
Amtek Auto to produce 5,000 railway wagons in a JV with a North American wagon supplier
Essar Communications Holdings arm to invest US$450mn to rollout telecom services in Kenya
Lehman Brothers and Deutsche Bank to invest US$500mn in Unitech SPV.
Ranbaxy suffers setback as a Canadian court upholds Pfizer patent for a molecule of cholesterol-lowering drug Lipitor
George Soros buys 2.5% stake in Indiabulls Real Estate for Rs2.8bn
Kribhco plans a Rs40bn power project in Bihar
Economic News
Inflation rises to eleven month high of 5.92%; government cuts import duty on edible oil and rice
DoT says all players can bid up to 10MHz of 3G spectrum rejecting TRAI’s recommendation on the same
Core sector growth halved to 4.2% in January with decline in crude production
Government may consider a proposal to levy 10% export duty on all grades of finished steel
Government proposes cess of up to 6% on coal with high ash content
India expected to attract FDI worth Rs1tn in mining exploration of gold and diamond
Sugar production in Uttar Pradesh is expected to drop by 15% to 7.2mn tons in current crushing season
Sixth Pay Commission recommendations are expected to be submitted to the finance ministry early next week
Non-food credit growth slows down to 21.8% during April-February 2007-08 compared with 29.6% a year ago
Central government staff may get a 50% pay hike
Fiscal deficit for quarter ended December declined to Rs776bn from Rs949bn a year ago
Domestic aviation growth in 2007 declines to 11.5% from more than 32% in the previous year
I&B Ministry considering TRAI proposals to lower license fees for DTH players from 10% to 6%.
Five SEZs projects get approval with four in the IT sector.
Insurance regulator IRDA may limit insurance companies’ investment in mortgage backed securities to 10%
Friday, March 21, 2008
Short selling to be effective from April
The Securities and Exchange Board of India (Sebi) on Wednesday said short-selling and securities lending and borrowing will be operationalised from April 21.
The circular asked stock exchanges and depositories to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the decision, bring the provisions of the circular to the notice of the member brokers/clearing members, depository participants and communicate to the Sebi the status of the implementation of the provisions of the circular in the monthly development report submitted to the market regulator.
Sebi had come out with a circular on December 20, 2007, specifying the broad framework for short selling by institutional investors and a full-fledged securities lending and borrowing scheme for all market participants.
For more subscribe mail us to sheth_jg@yahoo.com ,We provide calls on mobile,yahoo messenger,google,msn,hotmail,rediff,and even on our chat site.Better join to avoid loss and make profit
The circular asked stock exchanges and depositories to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the decision, bring the provisions of the circular to the notice of the member brokers/clearing members, depository participants and communicate to the Sebi the status of the implementation of the provisions of the circular in the monthly development report submitted to the market regulator.
Sebi had come out with a circular on December 20, 2007, specifying the broad framework for short selling by institutional investors and a full-fledged securities lending and borrowing scheme for all market participants.
For more subscribe mail us to sheth_jg@yahoo.com ,We provide calls on mobile,yahoo messenger,google,msn,hotmail,rediff,and even on our chat site.Better join to avoid loss and make profit
Wednesday, March 19, 2008
700 point gain on the Sensex today
Bulls may attempt another rally for more subscribe for paid calls add sheth_jg@yahoo.com
As mention Yesterday good global clues be long see today what will happen
A gap up opening is in store. The problem, as seen in recent times, is that markets open with a gap and hardly give a chance to pocket quick gains. Face it. After losing money quickly, who doesn’t want an opportunity to make some quick bucks? We won’t debate on whether greed is a moral or economic problem. The Nifty futures trading in Singapore point to a gap-up opening. The bulls will hope to have a blast before one of the longest weekends in the market. Remain guarded in approaching today's trade. We are not sure if this is a dead cat bounce or resumption of another bull phas
The Fed has lowered rates by 75 basis points or 0.75 percent, slightly lesser than what was expected. The interest rate now stands at 2.25%.
The US central bank has cut interest rates in a bid to restore confidence to nervous financial markets and boost the ailing economy. US Treasury Secretary Henry Paulson had admitted earlier on Tuesday that the US economy is facing a "sharp decline".
The Fed has lowered rates six times since September 2007 in a bid to boost the economy, which is reeling from the credit crisis triggered by a slump in the US housing market.
Corporate Front Page
ICICI Bank seeks additional collateral from corporate borrowers of offshore finance.
HDFC to raise Rs40bn debt to finance stake purchase in HDFC Bank.
TCS opens its largest delivery centre in the US at Ohio having a capacity of 1,000 people.
Jaypee Group leads race for ICICI’s 45% stake in exploration firm Prize Petroleum.
Ranbaxy has signed a pact with CD Pharma to market dental drug brand INERSAN in India and Nepal.
Reliance Communications to buy Europe-based specialty WiMax operator.
Maruti Suzuki to ramp-up its plant capacity in Manesar, Haryana, to 3lacs units per year by October 2008.
ICICI Bank has announced country’s largest securitization program of Rs58bn.
REL to hire more engineers and managers to execute contracts worth US$3.65bn.
Indiabulls Power, owned by Indiabulls Real Estate, has won the bid to set-up a 1,600MW Bhaiyathan power project in Chattisgarh.
RCF has lined up an investment plan of Rs76.4bn for setting up an ammonia-urea and phosphatic plant in Mozambique.
MTNL likely to offload 50% stake in Suntel, a Sri Lankan telco.
Reliance ADAG is setting up a cement unit in Madhya Pradesh.
L&T wins contract worth Rs1.7bn from a Chinese firm to supply gasification equipments.
Tata Motors to get US$3bn one-year bridge loan from Ctitgroup and JP Morgan to help finance potential purchase of Jaguar and Land Rover.
Vishal Retail signs an agreement with HPCL for opening stores at its selected outlets across the country.
Orient Global Tamarind has picked up nearly 1% in Axis Bank for Rs2.38bn in open market transactions.
Allied Digital to raise utpo US$100mn through issue of securities in domestic as well as international markets.
DCM Shriram acquires 49% stake in hybrid seeds business from its JV partner for US$13.3mn.
Sical Logistics plans to buy an Indian freight forwarding company.
Barings PE buys 12% in brokerage firm Sharekhan for Rs2.4bn.
Economic News
Corporate advance tax payments rise 110%.
GDP growth may slow down to 8% in 2008-09 says Mr. Montek Singh, Deputy Head of the planning commission.
MMRDA auctioned three plots in Bandra Kurla Complex for Rs13.2bn. The price was significantly lower than Rs27.9bn for a similar transaction three months back.
Government plans to scrap purchase preference policy from 1st April 2008 under which the CPSEs get 10% price preference for government contracts in various areas.
I&B Ministry favours 74% FDI limit for DTH.
Home loan rates have declined in last one year says FM.
Gems & jewelry exports grew 9.3% yoy during April-Feb 2008.
As mention Yesterday good global clues be long see today what will happen
A gap up opening is in store. The problem, as seen in recent times, is that markets open with a gap and hardly give a chance to pocket quick gains. Face it. After losing money quickly, who doesn’t want an opportunity to make some quick bucks? We won’t debate on whether greed is a moral or economic problem. The Nifty futures trading in Singapore point to a gap-up opening. The bulls will hope to have a blast before one of the longest weekends in the market. Remain guarded in approaching today's trade. We are not sure if this is a dead cat bounce or resumption of another bull phas
The Fed has lowered rates by 75 basis points or 0.75 percent, slightly lesser than what was expected. The interest rate now stands at 2.25%.
The US central bank has cut interest rates in a bid to restore confidence to nervous financial markets and boost the ailing economy. US Treasury Secretary Henry Paulson had admitted earlier on Tuesday that the US economy is facing a "sharp decline".
The Fed has lowered rates six times since September 2007 in a bid to boost the economy, which is reeling from the credit crisis triggered by a slump in the US housing market.
Corporate Front Page
ICICI Bank seeks additional collateral from corporate borrowers of offshore finance.
HDFC to raise Rs40bn debt to finance stake purchase in HDFC Bank.
TCS opens its largest delivery centre in the US at Ohio having a capacity of 1,000 people.
Jaypee Group leads race for ICICI’s 45% stake in exploration firm Prize Petroleum.
Ranbaxy has signed a pact with CD Pharma to market dental drug brand INERSAN in India and Nepal.
Reliance Communications to buy Europe-based specialty WiMax operator.
Maruti Suzuki to ramp-up its plant capacity in Manesar, Haryana, to 3lacs units per year by October 2008.
ICICI Bank has announced country’s largest securitization program of Rs58bn.
REL to hire more engineers and managers to execute contracts worth US$3.65bn.
Indiabulls Power, owned by Indiabulls Real Estate, has won the bid to set-up a 1,600MW Bhaiyathan power project in Chattisgarh.
RCF has lined up an investment plan of Rs76.4bn for setting up an ammonia-urea and phosphatic plant in Mozambique.
MTNL likely to offload 50% stake in Suntel, a Sri Lankan telco.
Reliance ADAG is setting up a cement unit in Madhya Pradesh.
L&T wins contract worth Rs1.7bn from a Chinese firm to supply gasification equipments.
Tata Motors to get US$3bn one-year bridge loan from Ctitgroup and JP Morgan to help finance potential purchase of Jaguar and Land Rover.
Vishal Retail signs an agreement with HPCL for opening stores at its selected outlets across the country.
Orient Global Tamarind has picked up nearly 1% in Axis Bank for Rs2.38bn in open market transactions.
Allied Digital to raise utpo US$100mn through issue of securities in domestic as well as international markets.
DCM Shriram acquires 49% stake in hybrid seeds business from its JV partner for US$13.3mn.
Sical Logistics plans to buy an Indian freight forwarding company.
Barings PE buys 12% in brokerage firm Sharekhan for Rs2.4bn.
Economic News
Corporate advance tax payments rise 110%.
GDP growth may slow down to 8% in 2008-09 says Mr. Montek Singh, Deputy Head of the planning commission.
MMRDA auctioned three plots in Bandra Kurla Complex for Rs13.2bn. The price was significantly lower than Rs27.9bn for a similar transaction three months back.
Government plans to scrap purchase preference policy from 1st April 2008 under which the CPSEs get 10% price preference for government contracts in various areas.
I&B Ministry favours 74% FDI limit for DTH.
Home loan rates have declined in last one year says FM.
Gems & jewelry exports grew 9.3% yoy during April-Feb 2008.
Tuesday, March 18, 2008
Mild Relief-Rally
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.
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.
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.
Subscribe to:
Posts (Atom)