The Market is likely to have negative opening, as the cues from global markets are not in favor. The market surged yesterday to hit new landmarks by creating a rally over the sectoral indices scrips on the back of heavy buying across the counters. Both the benchmark indices closed lifetime high with handsome gains.
Today, Nifty has support at 5,962 and resistance at 6,139 and BSE Sensex has support at 19,928 and resistance at 20,396
The Index of Industrial Production (IIP) data for October 2007 is due today, 12 November 2007. IIP had slumped 6.4% in September 2007 over 12% in September 2006. Industrial output moved down 9.2% in April-September 2007 compared with 11.1% in April-September 2006.
Stocks in News:
Wipro is looking to earn one-sixth of its global revenues by March 2009 from system integration business.
Pfizer's patent for new HIV follow up treatment drug Celzentry in India may face opposition from patient groups and NGOs.
Marico is currently test marketing hair oil, gel and shampoo for children.
ITC to provide supply solutions to help small stores place orders over mobile phones.
TV18 Group to buy a majority 53% stake in Infomedia India.
Ansal API receives UP government’s approval for two SEZs.
Jindal Drilling plans to divest 10% stake to fund expansion plans.
Nalco is investing Rs300bn over the next five years for setting up smelter and power plant in Indonesia.
SBI expects slowdown in personal loans by 5-10% in second half of FY08.
Shriram Transport Finance is looking at the replacement market to sustain its loan growth at 50% in H2 FY08.
Idea Cellular offers Rs16.5bn for additional 4.4MHz spectrum.
Reliance Industries to spend US$12bn to develop three gas basins.
IOC says it would stop fuel supply to the railways if the latter continues to insist on discounts.
United Phosphorus is set to bid for Australia's largest agriculture chemical company, Nufarm.
Tata Steel has entered into a joint venture with SODEMI for the developing Mount Nimba iron ore deposits in Ivory Coast in West Africa.
Suzuki announces that Maruti Suzuki India will make its next global car, the A-Star.
Mercator Lines raises about US$142.5mn from its listing at the Singapore stock exchange.
Reliance Industries sings contracts for exploration in two oil and gas blocks in Colombia.
Reliance Energy led consortium will contest Sea King while bidding for the Mumbai Trans-Harbour link.
Reliance Energy’s 4,000MW Shahapur project gets environment clearance.
L&T acquires 26% stake in New Delhi based consulting and engineering firm Feedback Ventures for Rs400mn.
JSW Energy invites bids for BoP package for its proposed 3x400MW coal fired power plant in Ratnagiri.
Commerce Minister Kamal Nath rules out any possibility of relaxation of land rules for SEZs.
The RBI may soon tighten norms for foreign exchange derivatives.
The Government is likely to extend Software Technology Parks of India scheme only to Indian ITES/BPO firms beyond 2009.
The Petroleum & Natural Gas Regulatory Board has urged the petroleum ministry to offer targeted subsidy on petrol, diesel, LPG and kerosene.
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
Wednesday, December 12, 2007
Tuesday, December 11, 2007
FII buying slows down
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
FOR OUR SUBSCRIBER'S ONLY
Today, Nifty has support at 5,908 and resistance at 6,039 and BSE Sensex has support at 19,773 and resistance at 20,278.The market is likely to open on a positive note tracking firm Asian markets in current trades and the gains in the US markets. The global crude oil prices trading near $88 and strong FII inflows may boost the market sentiment. Among the local , the Nifty could test 6,200 on the upside and may slip to 5,750 on the downside. The Sensex has a likely support at 19,300 and may face resistance at 21,000
Midcaps are flying across the board with new stocks joining them every day.Things continue to look bullish as the markets are in the hands of domestic operators and HNI's. Slowly getting into cash is not a bad idea
Breaking 20,000 appears to be a difficult task but it only a matter of days. A break will give us couple of thousand point rally in no time. Sugar, Hotels and Textiles are in the front seat in yesterday's midcap run.
Reliance likely to acquire a global retail chain
Alok Indutries jumped big time and we were bullish on this stock from last month
Alok Industries(Rs.91.25) is likely to shoot towards 125 levels. De-merger news is boosting the stock price.
HOT PICKS - RADICO KHAITAN,YES BANK,BILT,PVR
SUBSCRIBER NOW TO KNOW MORE
FOR OUR SUBSCRIBER'S ONLY
Today, Nifty has support at 5,908 and resistance at 6,039 and BSE Sensex has support at 19,773 and resistance at 20,278.The market is likely to open on a positive note tracking firm Asian markets in current trades and the gains in the US markets. The global crude oil prices trading near $88 and strong FII inflows may boost the market sentiment. Among the local , the Nifty could test 6,200 on the upside and may slip to 5,750 on the downside. The Sensex has a likely support at 19,300 and may face resistance at 21,000
Midcaps are flying across the board with new stocks joining them every day.Things continue to look bullish as the markets are in the hands of domestic operators and HNI's. Slowly getting into cash is not a bad idea
Breaking 20,000 appears to be a difficult task but it only a matter of days. A break will give us couple of thousand point rally in no time. Sugar, Hotels and Textiles are in the front seat in yesterday's midcap run.
Reliance likely to acquire a global retail chain
Alok Indutries jumped big time and we were bullish on this stock from last month
Alok Industries(Rs.91.25) is likely to shoot towards 125 levels. De-merger news is boosting the stock price.
HOT PICKS - RADICO KHAITAN,YES BANK,BILT,PVR
SUBSCRIBER NOW TO KNOW MORE
Monday, December 10, 2007
Markets to open flat to low
SUBSCRIBER NOW TO KNOW MORE
Nifty has support at 5940, 5880 and 5820 levels and will face resistance at 6040, 6065 and 6115. Closing above 6065 and also sustaining above the same may result in fireworks and change the picture in total favour of the bulls. On the downside, 5680 will be the critical level to watch out for
Foreign institutional investors' net sold equity worth Rs 253.84 crore on Friday while mutual funds were net buyers of equity worth Rs 339.64 crore, according to provisional data on NSE
Though the bulls managed to lift the Sensex and the Nifty above 20k and 6k, respectively, they could not hold those levels owing to some profit booking. The same scenario may play out this week as well. The undertone is largely positive, but the trend will remain choppy and the key indices are likely to consolidate after reaching new lifetime highs.
Today, we expect the key indices to be cautious to slightly higher at the opening bell, though the rally in small- and mid-cap shares may continue. But one has to be weary of the spurt in small- and mid-cap stocks, as a steep fall may leave one high and dry
Sensex appears to struggle to close above 20k and today might be the day of the record.IT stocks swung into action with the second rung stocks making come back after a long time
Fed is likely to go ahead with a 25 basis point cut next week and the same is factored in. Definitely the downsides appear to be capped and the major depends on the liquidity and with the holiday season coming up do not expect a run away rally
Reliance Power may be forced to push its initial public offering (IPO) to early next year, as the Securities and Exchange Board of India (Sebi) is still grappling with the fine print of the red herring prospectus.
Buying was observed in Royal Orchid(Rs.146.95)
OUR Picks STERLITE OPTICALS,ROLTA, NAGARJUNA FERTILIZERS,MARUTI,TRIVENI ENGG,ICICIBANK,RCOM
STILL THINKING FOR A REASON TO JOIN US
Nifty has support at 5940, 5880 and 5820 levels and will face resistance at 6040, 6065 and 6115. Closing above 6065 and also sustaining above the same may result in fireworks and change the picture in total favour of the bulls. On the downside, 5680 will be the critical level to watch out for
Foreign institutional investors' net sold equity worth Rs 253.84 crore on Friday while mutual funds were net buyers of equity worth Rs 339.64 crore, according to provisional data on NSE
Though the bulls managed to lift the Sensex and the Nifty above 20k and 6k, respectively, they could not hold those levels owing to some profit booking. The same scenario may play out this week as well. The undertone is largely positive, but the trend will remain choppy and the key indices are likely to consolidate after reaching new lifetime highs.
Today, we expect the key indices to be cautious to slightly higher at the opening bell, though the rally in small- and mid-cap shares may continue. But one has to be weary of the spurt in small- and mid-cap stocks, as a steep fall may leave one high and dry
Sensex appears to struggle to close above 20k and today might be the day of the record.IT stocks swung into action with the second rung stocks making come back after a long time
Fed is likely to go ahead with a 25 basis point cut next week and the same is factored in. Definitely the downsides appear to be capped and the major depends on the liquidity and with the holiday season coming up do not expect a run away rally
Reliance Power may be forced to push its initial public offering (IPO) to early next year, as the Securities and Exchange Board of India (Sebi) is still grappling with the fine print of the red herring prospectus.
Buying was observed in Royal Orchid(Rs.146.95)
OUR Picks STERLITE OPTICALS,ROLTA, NAGARJUNA FERTILIZERS,MARUTI,TRIVENI ENGG,ICICIBANK,RCOM
STILL THINKING FOR A REASON TO JOIN US
Friday, December 7, 2007
Time to buy or exit - only for Clients
Still waiting for subscriptions ?? great ??
OUR BTST - BHARATI AIRTEL
Nifty (5955) Sup 5902 Res 6036
The Sensex and the Nifty may close above 20k and 6k, respectively today. Trading will be choppy as investors may develop cold feet with the indices at new lifetime highs. Small-cap and Mid-cap stocks will continue to hog the limelight. We expect another strong start and hopefully, a better closing than yesterday.
FII Gross purchases Rs 5515 Cr, Gross sales Rs 4434 Cr, Net Buyers Rs 1081 Cr.
MF Gross Purchases Rs 1098 Cr, Gross Sales Rs 1290 Cr, Net Sellers Rs 192 Cr.
Stocks in News:
Eicher Motors could attract attention amid reports that it could form a JV with Swedish CV major Volvo.
Reliance Communications gets all-India GSM license from DoT. (ET)
Glaxo pulls-out patent applications of two anti-AIDS medicines in India. (ET)
Bank of England reduced interest rates indicating that Fed rate cut is almost on cards. Though the market is discouting 25 basis point cut Bull run always looks for an excuse for big jumps.
Unitech is another stock in limelight after the company announced the plans of major expansion and de-merger of the retail business
Gammon India(Rs.600.20) is in the buy list of savy funds. WE expect 700 levels soon
STOCK ON RADAR - IDEA,UNITECH,BHARATI,HTML GLOBAL.........
SUBSCRIBER NOW TO KNOW MORE
OUR BTST - BHARATI AIRTEL
Nifty (5955) Sup 5902 Res 6036
The Sensex and the Nifty may close above 20k and 6k, respectively today. Trading will be choppy as investors may develop cold feet with the indices at new lifetime highs. Small-cap and Mid-cap stocks will continue to hog the limelight. We expect another strong start and hopefully, a better closing than yesterday.
FII Gross purchases Rs 5515 Cr, Gross sales Rs 4434 Cr, Net Buyers Rs 1081 Cr.
MF Gross Purchases Rs 1098 Cr, Gross Sales Rs 1290 Cr, Net Sellers Rs 192 Cr.
Stocks in News:
Eicher Motors could attract attention amid reports that it could form a JV with Swedish CV major Volvo.
Reliance Communications gets all-India GSM license from DoT. (ET)
Glaxo pulls-out patent applications of two anti-AIDS medicines in India. (ET)
Bank of England reduced interest rates indicating that Fed rate cut is almost on cards. Though the market is discouting 25 basis point cut Bull run always looks for an excuse for big jumps.
Unitech is another stock in limelight after the company announced the plans of major expansion and de-merger of the retail business
Gammon India(Rs.600.20) is in the buy list of savy funds. WE expect 700 levels soon
STOCK ON RADAR - IDEA,UNITECH,BHARATI,HTML GLOBAL.........
SUBSCRIBER NOW TO KNOW MORE
Thursday, December 6, 2007
POWER STOCK IN DEMAND
SUBSCRIBER NOW TO KNOW MORE
OUR BTST - BANK NIFTY, POWERGRID, GAIL,
The market is expected to open on a positive note today;
traders are advised to assume long positions if Nifty sustains
above 5995 levels else from lower supports of 5940 for upside
targets of 6050 and 6125 levels.
FII Gross purchases Rs 3974 Cr, Gross sales Rs 3954 Cr, Net Buyers Rs 20 Cr.
MF Gross Purchases Rs 1028 Cr, Gross Sales Rs 1062 Cr, Net Sellers Rs 34 Cr
Nifty December futures witnessed long accumulation; it added 6 lakh shares in open
interest on the back of premium increasing significantly to 37.15
points. The overall market has seen addition of 2.84 percent of
open interest on the back of increasing cost of carry indicating
positive sentiments prevailing. On the options front call options
have seen fresh buying while put options have witnessed
shorting indicating limited downsides form the current levels.
We have a moderately bullish view on IDBI. We recommend a bull call spread strategy:
o Buy One IDBI Dec 180 CA @ 9.50 – 10.50
o Sell One IDBI Dec 190 CA @ 6.50 – 7.50
o BEP: 183
o Investment: Rs.1,30,000 (Approx)
o Time Frame: 5-6 Days
IDBI Buy at 175 sl 172.10 for target 183-185 for 5-6 Days
Watch for big moves from MTNL and Alok Industries soon
RED HOT STOCK POWER GRID,INDUSIND BANK ,DCB, GAIL NTPC,RNRL
STILL THINKING FOR A REASON TO JOIN US
OUR BTST - BANK NIFTY, POWERGRID, GAIL,
The market is expected to open on a positive note today;
traders are advised to assume long positions if Nifty sustains
above 5995 levels else from lower supports of 5940 for upside
targets of 6050 and 6125 levels.
FII Gross purchases Rs 3974 Cr, Gross sales Rs 3954 Cr, Net Buyers Rs 20 Cr.
MF Gross Purchases Rs 1028 Cr, Gross Sales Rs 1062 Cr, Net Sellers Rs 34 Cr
Nifty December futures witnessed long accumulation; it added 6 lakh shares in open
interest on the back of premium increasing significantly to 37.15
points. The overall market has seen addition of 2.84 percent of
open interest on the back of increasing cost of carry indicating
positive sentiments prevailing. On the options front call options
have seen fresh buying while put options have witnessed
shorting indicating limited downsides form the current levels.
We have a moderately bullish view on IDBI. We recommend a bull call spread strategy:
o Buy One IDBI Dec 180 CA @ 9.50 – 10.50
o Sell One IDBI Dec 190 CA @ 6.50 – 7.50
o BEP: 183
o Investment: Rs.1,30,000 (Approx)
o Time Frame: 5-6 Days
IDBI Buy at 175 sl 172.10 for target 183-185 for 5-6 Days
Watch for big moves from MTNL and Alok Industries soon
RED HOT STOCK POWER GRID,INDUSIND BANK ,DCB, GAIL NTPC,RNRL
STILL THINKING FOR A REASON TO JOIN US
Wednesday, December 5, 2007
Technical picks
MoserBaer - MoserBaer had made a double top earlier
around 340 levels, and slipped sharply
from the highs. It is currently trading
around the major support level which is
also a double bottom for the stock around
240 levels. The stock has found support
and has reverted back with an increase in
volumes, suggesting an excellent bottomfishing
opportunity in the stock. The
leading indicator like 14-day RSI has given
a strong buy signal, as it bottomed out
around the oversold territory. However,
the stock currently is trading below all the
major moving averages barring the 200-
day EMA, from where we had earlier seen
a bounce back in the stock. The stock may
face trouble around 280 levels on the
upsides above which it could witness a
unidirectional movement towards its all
time high levels of 350. This stock is an
excellent bottom fishing pick from the
current levels. All long positions in the
stock should be protected with a stop loss
placed below 238 levels on a closing basis
DLF - DLF had been consolidating lately around
its rock solid support zone of 850-900 levels.
The stock made a high of 999 in the recent
past. However, profit booking forced the
stock to test lower levels of 800. The stock
is currently consolidating around the 900
mark and a further decline in the stock is
largely ruled out. The 14-day RSI is hovering
around the oversold territory and hasgenerated a
strong buy signal from the current levels.
Immediate resistance isplaced at around the all time
high levels. A sustained close above that level will
induce fresh buying interest in thestock which might
guide it to test new highs of 1080-1100 levels.
The 50-day EMA level is placed at around 850
levels which is unlikely to be broken in the near term.
Investors are advised to assume long positions in the
stock in the range of 900-925 levels for a medium term
target of 1050 and 1100 levels. All long positions in the
stock should be protected with a stop loss placed below
840 levels on a closing basis.
Cinemax - declared its 2QFY08 resultswhich were lower
than our expectations.This was due to a delay in the
launch ofits new properties as compared to our
expectations. The delays have been due to mix of
late handing over of properties,delay in getting
the fit-outs done and getting the specific clearances
like no objection certificates from the municipal
authorities. The company has currently
15 properties under operation with 44
screens and 12,057 seats. The topline of
the company grew by 7.5%, while the bottomline rose
by 36.8% QoQ on account of larger number of
screens under operation. The company also
reported a 70% QoQ jump in its other income from
Rs.8.9 mn to Rs.15.1 mn, thereby aiding its bottomline
growth. As the company was listed in (2H FY07), the
corresponding figures of (2QFY07) are not available for
comparison. Moving forward, they now have pushed back
the launch of new properties on account of various reasons
as outlined. On an average, we now estimate that upcoming
properties may be delayed by a quarter. Hence, we have revised
our FY08E and FY09E topline numbers. Our FY08 sales
are revised downwards by 17% from Rs.1,580 mn to
Rs.1,306 mn, while FY09 sales from Rs.2,864 mn to
Rs.2,414 mn. Inspite of this reduction in our estimates,
we still rate Cinemax as a ‘BUY’ with a reduced price target
of Rs.168 against our previous target of Rs. 200. The
stock currently trades 15.2x FY08E and 8.7x FY09E. The
revised price target implies a 41% upside from the current
market price and is at 12.3x FY09 estimated earnings.
around 340 levels, and slipped sharply
from the highs. It is currently trading
around the major support level which is
also a double bottom for the stock around
240 levels. The stock has found support
and has reverted back with an increase in
volumes, suggesting an excellent bottomfishing
opportunity in the stock. The
leading indicator like 14-day RSI has given
a strong buy signal, as it bottomed out
around the oversold territory. However,
the stock currently is trading below all the
major moving averages barring the 200-
day EMA, from where we had earlier seen
a bounce back in the stock. The stock may
face trouble around 280 levels on the
upsides above which it could witness a
unidirectional movement towards its all
time high levels of 350. This stock is an
excellent bottom fishing pick from the
current levels. All long positions in the
stock should be protected with a stop loss
placed below 238 levels on a closing basis
DLF - DLF had been consolidating lately around
its rock solid support zone of 850-900 levels.
The stock made a high of 999 in the recent
past. However, profit booking forced the
stock to test lower levels of 800. The stock
is currently consolidating around the 900
mark and a further decline in the stock is
largely ruled out. The 14-day RSI is hovering
around the oversold territory and hasgenerated a
strong buy signal from the current levels.
Immediate resistance isplaced at around the all time
high levels. A sustained close above that level will
induce fresh buying interest in thestock which might
guide it to test new highs of 1080-1100 levels.
The 50-day EMA level is placed at around 850
levels which is unlikely to be broken in the near term.
Investors are advised to assume long positions in the
stock in the range of 900-925 levels for a medium term
target of 1050 and 1100 levels. All long positions in the
stock should be protected with a stop loss placed below
840 levels on a closing basis.
Cinemax - declared its 2QFY08 resultswhich were lower
than our expectations.This was due to a delay in the
launch ofits new properties as compared to our
expectations. The delays have been due to mix of
late handing over of properties,delay in getting
the fit-outs done and getting the specific clearances
like no objection certificates from the municipal
authorities. The company has currently
15 properties under operation with 44
screens and 12,057 seats. The topline of
the company grew by 7.5%, while the bottomline rose
by 36.8% QoQ on account of larger number of
screens under operation. The company also
reported a 70% QoQ jump in its other income from
Rs.8.9 mn to Rs.15.1 mn, thereby aiding its bottomline
growth. As the company was listed in (2H FY07), the
corresponding figures of (2QFY07) are not available for
comparison. Moving forward, they now have pushed back
the launch of new properties on account of various reasons
as outlined. On an average, we now estimate that upcoming
properties may be delayed by a quarter. Hence, we have revised
our FY08E and FY09E topline numbers. Our FY08 sales
are revised downwards by 17% from Rs.1,580 mn to
Rs.1,306 mn, while FY09 sales from Rs.2,864 mn to
Rs.2,414 mn. Inspite of this reduction in our estimates,
we still rate Cinemax as a ‘BUY’ with a reduced price target
of Rs.168 against our previous target of Rs. 200. The
stock currently trades 15.2x FY08E and 8.7x FY09E. The
revised price target implies a 41% upside from the current
market price and is at 12.3x FY09 estimated earnings.
Time for IT to move
STILL THINKING FOR A REASON TO JOIN US
OUR BTST JP ASSOCIATES watch out for today
Today, Nifty has support at 5,765 and resistance at 5,908 and BSE Sensex has support at 19,529.50 and resistance at 19,691.
Turnover in F&O segment rises
Nifty December 2007 futures were at 5889, at a premium of 30.65 points as compared to the spot closing of 5858.35.
The NSE's futures & options (F&O) segment turnover was Rs 56,330.05 crore, which was higher than Rs 54,816.50 crore on Monday, 3 December 2007.
Stock on radar HCC,ESSAR STEEL, BATA INDIA,TTML
Buy TTML for a target of 58 and above for 5 days
SUBSCRIBER NOW TO KNOW MORE
OUR BTST JP ASSOCIATES watch out for today
Today, Nifty has support at 5,765 and resistance at 5,908 and BSE Sensex has support at 19,529.50 and resistance at 19,691.
Turnover in F&O segment rises
Nifty December 2007 futures were at 5889, at a premium of 30.65 points as compared to the spot closing of 5858.35.
The NSE's futures & options (F&O) segment turnover was Rs 56,330.05 crore, which was higher than Rs 54,816.50 crore on Monday, 3 December 2007.
Stock on radar HCC,ESSAR STEEL, BATA INDIA,TTML
Buy TTML for a target of 58 and above for 5 days
SUBSCRIBER NOW TO KNOW MORE
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