Essar oil ONGC BPCL GMR REL ENGY shall be good for Intraday traders,go positive in these counter.
JOIN TO KNOW MORE ADD sheth_jg@yahoo.com
Market still looks positive to me as long as market stays above 5120
Break of 5120 can drag the market down to 5035 and break of this to 4940
And especially 4940 is not expected to broken.
On the upside market faces immediate resistance at 5180 and a good resistance at 5235
Break of 5235 successfully and trade above this can take us to 5270 and then finally a good resistance zone between 5330 - 5350 followed by another good resistance zone at 5410 - 5420.
Always remember the zone between 5330 - 5350 and 5410 - 5420 have proved to be hard for the nifty to break and the reversal had many times near these levels
Pick No 1 - K S Oils - Our clients are holding this call, you can also look to buy around 85. Good for intraday and delivery. Stop loss and target only for clients. Clients will get proper target and proper stop loss of it. Remember don't execute any calls at hurry, wait for market to settle and don't buy in negative trend
Pick No 2 - Essar Oil - Again showing some positive sign, look to buy around the level of 240 and keep stop loss 233. Clients will get proper target and proper stop loss of it. Remember don't execute any calls at hurry, wait for market to settle and don't buy in negative trend
Indian Markets appear more concerned about US Economy, than the Wall Street. Any negative news across the globe is taken as advantage by the market players to short the market heavily. This implies we have a show on the cards with shorts still in play and any major upswings will push the Sensex wildly further. But technicals will support the rally only above 19.240, till then it is a cat and mice play.
Rupee is getting weaker and this augurs well for Technology stocks and other export oriented stocks like Textiles and Auto ancillaries. Yesterday's weak trade shows the promise in these sectors. Midcap IT showed strength on Tuesday and were silent yesterday. Today we expect them to fire again. PE funds are looking actively looking in the logistics space (Blackstone buys 10 percent stake in Allcargo). We like another stock here(Leader in Logistics).
Markets are likely to trade up with minor bouts of volatility and with strength appears tilting towards Bulls
Stock in news - ABB, Tata Motors, Reliance Capital, Accential Tech, Omnitech, Wockhardt and many more are the stocks in news today.
ABB is in talks for Rs2,000 crore orders from power companies
SBI and Canara bank reduced the benchmark prime lending rates (PLRs) by 25 basis points, second time in less than one week.
Wockhardt posted a 23 per cent jump in net profit to Rs 106.9 crore in the fourth quarter ended December 31, 2007, courtesy acquisitions and European business
Reliance Energy today outbid Reliance Industries consortium to win the prestigious Rs 6,000-crore trans-harbour link project in Mumbai.
ADAG led Reliance Capital (RCL) on Tuesday got the Reserve Bank of India’s nod to venture into the asset reconstruction business.
Orchid gets nod from USFDA for Cefuroxime Axetil tablets
Mumbai based Omnitech InfoSolutions, today said it planned to raise $35 million from overseas markets to fuel its domestic expansion.
The much hyped Tata Motors' Nano car is likely to roll out production in October 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
Thursday, February 21, 2008
Wednesday, February 20, 2008
Nifty opening down and might recover -Join to know more
Add sheth_jg@yahoo.com onmessenger or mail to know more
Indian Markets are likely to witness another dull day after a lacklustre Monday and Tuesday, though volatility is not ruled out. Midcaps are likely to outshine largecaps though broad based rallies cannot be expected given the macro economic scenarion. Expectations on the budget are likely to start building up and Textiles, Infrastructure, Power and IT sectors are likely to benefit from the same. FDI in Cable TV and more sops to agriculture sector are in the pipeline.
Crude closed at $100 per barrel for the first time ever. Wall street lost all the gains to end the negative zone with Dow Jones losing 11 points to close at 12,377 and Nasdaq closing at 2,306 down 15 points. Zurich-based Credit Suisse, Switzerland's second-biggest bank, today announced a USD 2.85 billion in writedowns blaming on the credit turmoil. After hours Hewlett-Packard declared street beating results and raised the outlook.
Japanese markets are currently trading down 77 points on the weak global cues. We beleive Japanese markets have already bottomed out just below 13,000 levels 10 days back. We do not expect big losses in Japanese markets in the coming days.
Govt in a surprising move today extended tax sops to exporters covering transport and storage of goods. Taxes will be refunded back to the exporters. Logistics companies are likely to benefit from this move. Gateway Distriparks, Container Coporation, Patel Integrated Logistcs are few listed players in this segment.
Reuters reports that government is likely to levy 10 percent export tax on Iron Ore exporters, courtesy powerful Steel Industry lobbying. Sesa Goa is likely to take the hit. Rupee hits a 5-month low on shortage of dollars, in conjunction with other International currencies against the greenback(USD). IT Stocks started looking up with midcap stocks picking up steam. Though IT Stocks tried to come back many times in the last 4-5 months, many a time turned out to be one day wonders. This time weak Rupee is working to their advantage.
OnMobile Global surprised the street with better than expected listing on the bourses. Bang Overseas Ltd & Shriram EPC Ltd are listing on BSE today. On the IPO front REC(Rural Electrification Corporation), the govt. owned power finance corporation subscribed in the first 30 mins of its opening.
Stock in News -Nagarjuna Constructions, Polaris, Indus Indbank, BEML, L&T, Punj Lloyd and many more are the stocks in news today.
Nagarjuna Constructions is likely to sell its stake in subsidiaries NCC
Infrastructure Holdings Ltd and NCC Urban Infrastructure Ltd to PE Firms in the next 2 years.
Orderbook of BEML(Bharat Earth Movers limited) is expected to cross Rs.4,000-crore mark in the current fiscal, compared to the current order book of Rs.3,200 crore
Anil Ambani-led Reliance Power complained to market regulator SEBI about the possibility of a manipulation of its stock price immediately on its listing on February 11.
Mint reports that the central intelligence unit of Indian customs here has launched a series of cases alleging import duty evasion by nine infrastructure firms including listed firms like Punj Lloyd, Era Constructions, Gammon India and Maytas Infra Pvt. Ltd.
Polaris Software Lab has entered into a strategic partnership with City Networks, a software and services developer for the treasury, securities and derivatives markets. Under the agreement, Polaris will provide product development and support services to City Networks.
CNI Research Ltd has signed a consulting agreement with Wakabayasbi Fund, LLC, a Japanese limited liability company, a corporation formed under the laws of the Japan. The agreement is for liaison of capital funding and institutional relationship (non exclusive in India and overseas). The alliance would improve the topline of CNI Research Ltd.
Larsen and Toubro bagged a contract worth $431 million as part of an upgrade of two of Kuwait's three refineries for environment-friendly products.
ET reports one of the country’s largest banks, Canara Bank is reportedly eyeing an Indonesian bank to expand its international footprint.
Private sector bank IndusInd Bank has decided to sell up to 10 per cent of its existing equity capital.
The finance ministry today extended the service tax refund scheme for exporters to three more services : Goods transportation agencies and transport of export consignments by rail containers to sea ports, airports and inland container depots
News Snippets:
- Ranbaxy board approves de-merger of its R&D unit. The swap ratio has been fixed at 4:1.
- Reliance Capital gets RBI approval for ARC business.
- British Gas (BG) picks up stake in ONGC’s two deep water exploration blocks.
- M&M is targeting revenues worth US$3bn over the next ten years from deals in the defense space involving supply of land equipment systems to the armed forces.
- NTPC selects three foreign companies for a 40% stake in its renewable energy JV with ADB.
- Reliance Communications likely to place an order for 5mn set top boxes for its proposed DTH broadcasting venture.
- Bajaj Auto gets High Court approval for the proposed de-merger.
- Bhel and Alstom bids for 740MW gas power project by ONGC Tripura Power Corporation.
- BEML order book to increase by 25% this fiscal.
- Satyam Computers sets up a 350-seater delivery centre in Hyderabad.
- JSW Steel top increase its galvalume steel capacity to 0.6mtpa by October 2008.
- Tata Group invests an undisclosed sum in Singapore-based private jet operator, BJETS.
- UB Group to expand its product basket by launching about 80 wine brands including imported brands this year.
- BEML signs agreements with different companies to manufacture defence equipment in India.
- Bharat Electronics signs MoU with Israel’s defence equipment maker for making missile electronics and missile guiding systems for Indian military.
- Stand-alone tower companies such as Essar Telecom Tower, GTL Infra, Quipo, Xcel Telecom and TowerVision are planning to consolidate their businesses to compete with existing big three tower companies.
- Parsvnath Hotels, a subsidiary of Parsvnath Developers, has formed a JV with Royal Orchid Hotels which will develop ten hotels at an investment of Rs5bn.
- Biocon acquires majority 70% stake in Germany-based AxiCorp Pharmaceuticals for Euro 30mn.
- Patel Engineering in a JV with KNR Constructions has bagged a Rs2.1bn NHAI contract.
- Bhushan Steel sings an agreement with MP Government for setting-up coke and cement plants with an investment of Rs30bn.
- Coal India and IL&FS to form a JV to undertake project development for mine, power and other coal-based projects.
- 3i Infotech plans a JV with Chinese company for servicing its domestic clients.
- Sun TV to launch FM Radio stations in Kerala and Karnataka on February 20th and 21 respectively.
- Government may cut excise and custom duties on petroleum products.
- Rupee hits a 5-month low of Rs39.95 against the US Dollar.
- Large power projects including UMPPs may soon get a total duty waiver for purchasing equipments without going through international competitive biding.
- Railway freight earnings up 12.3% to Rs383bn in April’07-January’08.
- Finance Ministry extends the service tax refund scheme for exporters to include three more services - couriers, goods transport agencies and container transportation by rail.
Indian Markets are likely to witness another dull day after a lacklustre Monday and Tuesday, though volatility is not ruled out. Midcaps are likely to outshine largecaps though broad based rallies cannot be expected given the macro economic scenarion. Expectations on the budget are likely to start building up and Textiles, Infrastructure, Power and IT sectors are likely to benefit from the same. FDI in Cable TV and more sops to agriculture sector are in the pipeline.
Crude closed at $100 per barrel for the first time ever. Wall street lost all the gains to end the negative zone with Dow Jones losing 11 points to close at 12,377 and Nasdaq closing at 2,306 down 15 points. Zurich-based Credit Suisse, Switzerland's second-biggest bank, today announced a USD 2.85 billion in writedowns blaming on the credit turmoil. After hours Hewlett-Packard declared street beating results and raised the outlook.
Japanese markets are currently trading down 77 points on the weak global cues. We beleive Japanese markets have already bottomed out just below 13,000 levels 10 days back. We do not expect big losses in Japanese markets in the coming days.
Govt in a surprising move today extended tax sops to exporters covering transport and storage of goods. Taxes will be refunded back to the exporters. Logistics companies are likely to benefit from this move. Gateway Distriparks, Container Coporation, Patel Integrated Logistcs are few listed players in this segment.
Reuters reports that government is likely to levy 10 percent export tax on Iron Ore exporters, courtesy powerful Steel Industry lobbying. Sesa Goa is likely to take the hit. Rupee hits a 5-month low on shortage of dollars, in conjunction with other International currencies against the greenback(USD). IT Stocks started looking up with midcap stocks picking up steam. Though IT Stocks tried to come back many times in the last 4-5 months, many a time turned out to be one day wonders. This time weak Rupee is working to their advantage.
OnMobile Global surprised the street with better than expected listing on the bourses. Bang Overseas Ltd & Shriram EPC Ltd are listing on BSE today. On the IPO front REC(Rural Electrification Corporation), the govt. owned power finance corporation subscribed in the first 30 mins of its opening.
Stock in News -Nagarjuna Constructions, Polaris, Indus Indbank, BEML, L&T, Punj Lloyd and many more are the stocks in news today.
Nagarjuna Constructions is likely to sell its stake in subsidiaries NCC
Infrastructure Holdings Ltd and NCC Urban Infrastructure Ltd to PE Firms in the next 2 years.
Orderbook of BEML(Bharat Earth Movers limited) is expected to cross Rs.4,000-crore mark in the current fiscal, compared to the current order book of Rs.3,200 crore
Anil Ambani-led Reliance Power complained to market regulator SEBI about the possibility of a manipulation of its stock price immediately on its listing on February 11.
Mint reports that the central intelligence unit of Indian customs here has launched a series of cases alleging import duty evasion by nine infrastructure firms including listed firms like Punj Lloyd, Era Constructions, Gammon India and Maytas Infra Pvt. Ltd.
Polaris Software Lab has entered into a strategic partnership with City Networks, a software and services developer for the treasury, securities and derivatives markets. Under the agreement, Polaris will provide product development and support services to City Networks.
CNI Research Ltd has signed a consulting agreement with Wakabayasbi Fund, LLC, a Japanese limited liability company, a corporation formed under the laws of the Japan. The agreement is for liaison of capital funding and institutional relationship (non exclusive in India and overseas). The alliance would improve the topline of CNI Research Ltd.
Larsen and Toubro bagged a contract worth $431 million as part of an upgrade of two of Kuwait's three refineries for environment-friendly products.
ET reports one of the country’s largest banks, Canara Bank is reportedly eyeing an Indonesian bank to expand its international footprint.
Private sector bank IndusInd Bank has decided to sell up to 10 per cent of its existing equity capital.
The finance ministry today extended the service tax refund scheme for exporters to three more services : Goods transportation agencies and transport of export consignments by rail containers to sea ports, airports and inland container depots
News Snippets:
- Ranbaxy board approves de-merger of its R&D unit. The swap ratio has been fixed at 4:1.
- Reliance Capital gets RBI approval for ARC business.
- British Gas (BG) picks up stake in ONGC’s two deep water exploration blocks.
- M&M is targeting revenues worth US$3bn over the next ten years from deals in the defense space involving supply of land equipment systems to the armed forces.
- NTPC selects three foreign companies for a 40% stake in its renewable energy JV with ADB.
- Reliance Communications likely to place an order for 5mn set top boxes for its proposed DTH broadcasting venture.
- Bajaj Auto gets High Court approval for the proposed de-merger.
- Bhel and Alstom bids for 740MW gas power project by ONGC Tripura Power Corporation.
- BEML order book to increase by 25% this fiscal.
- Satyam Computers sets up a 350-seater delivery centre in Hyderabad.
- JSW Steel top increase its galvalume steel capacity to 0.6mtpa by October 2008.
- Tata Group invests an undisclosed sum in Singapore-based private jet operator, BJETS.
- UB Group to expand its product basket by launching about 80 wine brands including imported brands this year.
- BEML signs agreements with different companies to manufacture defence equipment in India.
- Bharat Electronics signs MoU with Israel’s defence equipment maker for making missile electronics and missile guiding systems for Indian military.
- Stand-alone tower companies such as Essar Telecom Tower, GTL Infra, Quipo, Xcel Telecom and TowerVision are planning to consolidate their businesses to compete with existing big three tower companies.
- Parsvnath Hotels, a subsidiary of Parsvnath Developers, has formed a JV with Royal Orchid Hotels which will develop ten hotels at an investment of Rs5bn.
- Biocon acquires majority 70% stake in Germany-based AxiCorp Pharmaceuticals for Euro 30mn.
- Patel Engineering in a JV with KNR Constructions has bagged a Rs2.1bn NHAI contract.
- Bhushan Steel sings an agreement with MP Government for setting-up coke and cement plants with an investment of Rs30bn.
- Coal India and IL&FS to form a JV to undertake project development for mine, power and other coal-based projects.
- 3i Infotech plans a JV with Chinese company for servicing its domestic clients.
- Sun TV to launch FM Radio stations in Kerala and Karnataka on February 20th and 21 respectively.
- Government may cut excise and custom duties on petroleum products.
- Rupee hits a 5-month low of Rs39.95 against the US Dollar.
- Large power projects including UMPPs may soon get a total duty waiver for purchasing equipments without going through international competitive biding.
- Railway freight earnings up 12.3% to Rs383bn in April’07-January’08.
- Finance Ministry extends the service tax refund scheme for exporters to include three more services - couriers, goods transport agencies and container transportation by rail.
Tuesday, February 19, 2008
YOU ARE LOOSING BY NOT SUBSCRIBING NOT ME
Add sheth_jg@yahoo.com on messenger or mail me to know more
The market is expected to open on a positive note today; traders are
advised to assume intraday long if Nifty manages to hold above
5300 for upside targets of 5380 and 5420 levels. Alternatively,
short positions can be assumed if Nifty fails to breach and hold
5400 levels with final stop loss placed at 5425 levels. Lower
supports of 5200 may as well be utilized to assume intraday
long positions
Nifty Feb futures have witnessed
closure of long positions; Feb futures have shed 1 lakh shares
in open interest with discount decreasing to 4.45 points from
11.65 points. The overall market has witnessed 0.90% addition
in open interest with average cost of carry at 1.67% suggesting
fresh build of long positions in stock futures. On the options
front, Nifty higher strike Call options have witnessed fresh
buying suggesting possible upsides from the current levels.
We have a moderately bullish view on Reliance; we recommend a Bull Call Spread strategy
o Buy One Reliance Feb 2700 CA @ 24 - 26
o Sell One Reliance Feb 2800 CA @ 14 - 16
o BEP: 2710
o Tgt: 2800
o Investment: Rs.48,000 (Approx)
o Time Frame: 6 - 8 Days
With lack of global cues Indian markets are likely to trade in a range with a positive bias. Yesterday's trade clearly indicates a tough fight between bulls and bears and the indecision is likely to continue today too.
A business newspaper reports that Indian tax department can now probe in Mauritius and this might act as a minor dampener to the sentiments. Coming to the positive front Government is likely to extend the sops for the 100% EOU's for another year. In another interesting development government today announced the issue of '7.95 per cent Fertilizer Companies Government of India Special Bonds, 2026’ for Rs 3,610 crore (nominal) to 23 fertiliser companies as compensation towards fertiliser subsidy during the current financial year. Chambal Fert, Magalore Fert, Nagarjuna Fert, RCF, Tata Chemicas, Deepak Fertiizers are reported to be eligible for the above mentioned bonds.
Crude continued to surge due to continued tensions between Venezuela and oil major Exxon Mobil. Cues from Asian markets are positive today with US markets closing on account of President's day. Midcap strength is a postiive sign and the big question is whether the small and midcaps take off??
We expect a pre-budget rally and technically crossing Sensex 19,250 is definitely a huge task. We do not see immediate resistances after Sensex 19.250 levels. There will be trading oppurtunities available today though taking quick profits is advisable to counter volatility. Have a great trading
Stock in news - Reliance Industries, NTPC, Essar Steel, India Bulls, United Phosporus, IT companies and other stocks hit headlines today
ET reports Reliance Industries is in advanced talks with the New York-based Vornado Realty Trust, one of the world’s top five real estate asset managers, to float a $1-billion plus fund
Government is likely to extend income-tax incentives for 100% EOU's for another one year.
Indiabulls Financial Services launched chartered aviation services after successful foray into financial services, broking, real estate, retail and power ventures.
Essar Steel plans a 6-million-tonne slab unit in Brazil reports Business Standard.
NTPC is likely to partner MCX’s power exchange.
Fortis Healthworld, a Rambaxy group company has tied up with Godrej Adhaar to extend its reach to rural India.
United Phosphorus Ltd (UPL) has purchased 100% stake through its subsidiary of Evofarms group of Companies (Evofarms), a major Marketing Company of generic products in the crop protection industry headquartered in Bogota, Colombia.
Everest Kanto Cylinder has granted an In Principle approval for acquisition of all the assets of a large manufacturing Company in the United States of America in a similar line of business, for approximately USD 70 million
1.) Sesa Goa: has witnessed fresh accumulation of long position in yesterday’s session. The stock had
seen 9.88 percent addition in open interest along with increase in cost of carry from 9.66 percent to 14.28 percent.
The stock surged by 5.80 percent to close above it resistance of 3300 levels. Long position can be assumed in stock
above 3335 levels for targets of 3400 and 3450 with final stop loss placed at 3300
.
2.) Tata Steel: Tata Steel futures have seen 9.55 percent addition in open interest along with increase in cost of
carry from 12.87 percent to 16.89 percent indicating fresh build of long position. Long positions can be assumed in
stock if it sustains above 820 levels for immediate targets of 830 and 845 levels with final stop loss placed at 810
levels.
3.) STER: STER futures have witnessed addition of long positions in yesterday’s trade; the stock has seen marginal
increase in open interest with cost of carry remained flat to spot levels. Long positions can be assumed in stock from
lower support of 765 levels with final stop loss placed at 750 levels.
4.) Reliance: Reliance has witnessed closure of short position and fresh build of long position in yesterday’s session.
The stock has seen 1.70 percent addition of open interest with cost of carry turned positive -1.03 percent to 9.29
percent. Long position can be assumed in stock at 2520-2530 with final stop loss placed at 2495 levels for immediate
targets of 2580 and 2600 levels.
5.) BPCL: BPCL futures have witnessed fresh build of long positions; the stock has seen 1472 percent addition in
open interest with cost of carry increasing from -7.18 percent to -4.30 percent. Long positions can be assumed in
stock above 460 levels for immediate targets of 480 and 490 levels with final stop loss placed at 450 levels.
6.) ONGC: ONGC has witnessed fresh build of short positions; ONGC futures have witnessed 1.24 percent addition
in open interest along with decrease in cost of carry to -13.58 percent from -4.49 percent. The stock immediate
support placed at 1000 levels where one can witness short covering. Long position can be assumed in stock it hold
above 1000 levels for immediate targets of 1025 and 1040 levels.
7.) DLF: DLF has witnessed closure of long position on account of profit taking; DLF futures have shed -1.07 percent
additions in open interest with slight decrease in cost of carry from 7.65 percent to 3.39 percent. Long position can
be assumed in stock at 850 levels for upside targets of 865 and 880 levels.
The market is expected to open on a positive note today; traders are
advised to assume intraday long if Nifty manages to hold above
5300 for upside targets of 5380 and 5420 levels. Alternatively,
short positions can be assumed if Nifty fails to breach and hold
5400 levels with final stop loss placed at 5425 levels. Lower
supports of 5200 may as well be utilized to assume intraday
long positions
Nifty Feb futures have witnessed
closure of long positions; Feb futures have shed 1 lakh shares
in open interest with discount decreasing to 4.45 points from
11.65 points. The overall market has witnessed 0.90% addition
in open interest with average cost of carry at 1.67% suggesting
fresh build of long positions in stock futures. On the options
front, Nifty higher strike Call options have witnessed fresh
buying suggesting possible upsides from the current levels.
We have a moderately bullish view on Reliance; we recommend a Bull Call Spread strategy
o Buy One Reliance Feb 2700 CA @ 24 - 26
o Sell One Reliance Feb 2800 CA @ 14 - 16
o BEP: 2710
o Tgt: 2800
o Investment: Rs.48,000 (Approx)
o Time Frame: 6 - 8 Days
With lack of global cues Indian markets are likely to trade in a range with a positive bias. Yesterday's trade clearly indicates a tough fight between bulls and bears and the indecision is likely to continue today too.
A business newspaper reports that Indian tax department can now probe in Mauritius and this might act as a minor dampener to the sentiments. Coming to the positive front Government is likely to extend the sops for the 100% EOU's for another year. In another interesting development government today announced the issue of '7.95 per cent Fertilizer Companies Government of India Special Bonds, 2026’ for Rs 3,610 crore (nominal) to 23 fertiliser companies as compensation towards fertiliser subsidy during the current financial year. Chambal Fert, Magalore Fert, Nagarjuna Fert, RCF, Tata Chemicas, Deepak Fertiizers are reported to be eligible for the above mentioned bonds.
Crude continued to surge due to continued tensions between Venezuela and oil major Exxon Mobil. Cues from Asian markets are positive today with US markets closing on account of President's day. Midcap strength is a postiive sign and the big question is whether the small and midcaps take off??
We expect a pre-budget rally and technically crossing Sensex 19,250 is definitely a huge task. We do not see immediate resistances after Sensex 19.250 levels. There will be trading oppurtunities available today though taking quick profits is advisable to counter volatility. Have a great trading
Stock in news - Reliance Industries, NTPC, Essar Steel, India Bulls, United Phosporus, IT companies and other stocks hit headlines today
ET reports Reliance Industries is in advanced talks with the New York-based Vornado Realty Trust, one of the world’s top five real estate asset managers, to float a $1-billion plus fund
Government is likely to extend income-tax incentives for 100% EOU's for another one year.
Indiabulls Financial Services launched chartered aviation services after successful foray into financial services, broking, real estate, retail and power ventures.
Essar Steel plans a 6-million-tonne slab unit in Brazil reports Business Standard.
NTPC is likely to partner MCX’s power exchange.
Fortis Healthworld, a Rambaxy group company has tied up with Godrej Adhaar to extend its reach to rural India.
United Phosphorus Ltd (UPL) has purchased 100% stake through its subsidiary of Evofarms group of Companies (Evofarms), a major Marketing Company of generic products in the crop protection industry headquartered in Bogota, Colombia.
Everest Kanto Cylinder has granted an In Principle approval for acquisition of all the assets of a large manufacturing Company in the United States of America in a similar line of business, for approximately USD 70 million
1.) Sesa Goa: has witnessed fresh accumulation of long position in yesterday’s session. The stock had
seen 9.88 percent addition in open interest along with increase in cost of carry from 9.66 percent to 14.28 percent.
The stock surged by 5.80 percent to close above it resistance of 3300 levels. Long position can be assumed in stock
above 3335 levels for targets of 3400 and 3450 with final stop loss placed at 3300
.
2.) Tata Steel: Tata Steel futures have seen 9.55 percent addition in open interest along with increase in cost of
carry from 12.87 percent to 16.89 percent indicating fresh build of long position. Long positions can be assumed in
stock if it sustains above 820 levels for immediate targets of 830 and 845 levels with final stop loss placed at 810
levels.
3.) STER: STER futures have witnessed addition of long positions in yesterday’s trade; the stock has seen marginal
increase in open interest with cost of carry remained flat to spot levels. Long positions can be assumed in stock from
lower support of 765 levels with final stop loss placed at 750 levels.
4.) Reliance: Reliance has witnessed closure of short position and fresh build of long position in yesterday’s session.
The stock has seen 1.70 percent addition of open interest with cost of carry turned positive -1.03 percent to 9.29
percent. Long position can be assumed in stock at 2520-2530 with final stop loss placed at 2495 levels for immediate
targets of 2580 and 2600 levels.
5.) BPCL: BPCL futures have witnessed fresh build of long positions; the stock has seen 1472 percent addition in
open interest with cost of carry increasing from -7.18 percent to -4.30 percent. Long positions can be assumed in
stock above 460 levels for immediate targets of 480 and 490 levels with final stop loss placed at 450 levels.
6.) ONGC: ONGC has witnessed fresh build of short positions; ONGC futures have witnessed 1.24 percent addition
in open interest along with decrease in cost of carry to -13.58 percent from -4.49 percent. The stock immediate
support placed at 1000 levels where one can witness short covering. Long position can be assumed in stock it hold
above 1000 levels for immediate targets of 1025 and 1040 levels.
7.) DLF: DLF has witnessed closure of long position on account of profit taking; DLF futures have shed -1.07 percent
additions in open interest with slight decrease in cost of carry from 7.65 percent to 3.39 percent. Long position can
be assumed in stock at 850 levels for upside targets of 865 and 880 levels.
Monday, February 18, 2008
Our BTST will rock today watch out ..........
Today picks - Rpower,Utv,JP Ass,
Join to know more Dont miss our call
Nifty started entering a bullish phase.. but now once again we need to always be
careful of higher level because of two reason...
==> Budget month
==> Nifty again coming near to the level of 5400. Where previously it found difficult to cross. But as of now this level as per the charts has increased to 5415.
On the upside I see a clear upword move upto 5415. 5415 should act as good resistance.If cross 5415 successfully and trade above it successfully can take Nifty to 5650 in few days
Dalal Street is expected to continue its upward journey on Monday morning. The cues from all the Asian markets are positive with Nikkei rising more than 1.3 percent. We see a positive overall with broad based buying across the board.
Mid Caps are likely to participate actively in the upmove, as they have been beaten down hard in the recent carnage. Some significant events that might be the talk of the town today are, bonus issue announced by ADAG to the shareholders of Reliance Power, RBI nod to IndiaBulls for setting up an NBFC and reports of Disney picking up a stake in UTV Software.Investment bank UBS has pegged the Sensex level at 22,600 by the end of the year.
We advise our visitors to hold on to the positions and given a chance add some quality companies to your portfolios. Unless some shocking news rocks the boat and dampens the sentiment, the markets are definitely looking healthier than ever in 200 Expect a 1.5 to 2 percent up move in the Sensex with select mid caps stealing the show
Stocks in news - Canara Bank, Gammon India, Ess Dee Aluminium, Orient Express, UTV Software and many more
Canara Bank, Gammon India, Ess Dee Aluminium, Orient Express, Reliance Power, PFC, UTV Software and many more stocks hit the headlines over the weekend.
Canara Bank is all set to enter the booming broking business, to launch online trading soon.
Ess Dee Aluminium is reported to acquire reeling India Foils soon.
Nicholas Piramal signs agreement with US-based Eli Lilly to develop and commercialise latter’s certain pre-clinical drug products.
Reliance Power proposes bonus shares to non-promoters, board to meet on 24th Feb
UTV Software is reportedly selling 17.15% stake to Disney for a whopping Rs.1300 crores
Gammon India is floating a logistics firm and is investing Rs 300 cr in the venture.
US equity firm Clear Trade is in talks with PFC to sell stake in $12-bn fund
Tech Reliance, the information technology company being floated by Reliance Communications (RComm) is likely to tie up with Accenture
Madras high court barred the sale and manufacture of its Flame motorbike, ruling to affect TVS Motors
JSW group is likely to foray into ports, airports & shipyards
Join to know more Dont miss our call
Nifty started entering a bullish phase.. but now once again we need to always be
careful of higher level because of two reason...
==> Budget month
==> Nifty again coming near to the level of 5400. Where previously it found difficult to cross. But as of now this level as per the charts has increased to 5415.
On the upside I see a clear upword move upto 5415. 5415 should act as good resistance.If cross 5415 successfully and trade above it successfully can take Nifty to 5650 in few days
Dalal Street is expected to continue its upward journey on Monday morning. The cues from all the Asian markets are positive with Nikkei rising more than 1.3 percent. We see a positive overall with broad based buying across the board.
Mid Caps are likely to participate actively in the upmove, as they have been beaten down hard in the recent carnage. Some significant events that might be the talk of the town today are, bonus issue announced by ADAG to the shareholders of Reliance Power, RBI nod to IndiaBulls for setting up an NBFC and reports of Disney picking up a stake in UTV Software.Investment bank UBS has pegged the Sensex level at 22,600 by the end of the year.
We advise our visitors to hold on to the positions and given a chance add some quality companies to your portfolios. Unless some shocking news rocks the boat and dampens the sentiment, the markets are definitely looking healthier than ever in 200 Expect a 1.5 to 2 percent up move in the Sensex with select mid caps stealing the show
Stocks in news - Canara Bank, Gammon India, Ess Dee Aluminium, Orient Express, UTV Software and many more
Canara Bank, Gammon India, Ess Dee Aluminium, Orient Express, Reliance Power, PFC, UTV Software and many more stocks hit the headlines over the weekend.
Canara Bank is all set to enter the booming broking business, to launch online trading soon.
Ess Dee Aluminium is reported to acquire reeling India Foils soon.
Nicholas Piramal signs agreement with US-based Eli Lilly to develop and commercialise latter’s certain pre-clinical drug products.
Reliance Power proposes bonus shares to non-promoters, board to meet on 24th Feb
UTV Software is reportedly selling 17.15% stake to Disney for a whopping Rs.1300 crores
Gammon India is floating a logistics firm and is investing Rs 300 cr in the venture.
US equity firm Clear Trade is in talks with PFC to sell stake in $12-bn fund
Tech Reliance, the information technology company being floated by Reliance Communications (RComm) is likely to tie up with Accenture
Madras high court barred the sale and manufacture of its Flame motorbike, ruling to affect TVS Motors
JSW group is likely to foray into ports, airports & shipyards
Friday, February 15, 2008
Will Indian markets change gears?
Subscribe to know more add sheth_jg@yahoo.com
As we told you 2 days back when nifty was 4850, that certain signals are showing that we are on a bullish trend and you could see what happen after that Nifty at 5200
Nifty looks minor bullish for tomorrow as long as it stays above 5235, but the direction is not clear yet.
The only concern was global clues which are down,On the downfall nifty finds a support at 5180 and then 5120.
5120 should act as a very good support any break below this can target 4940 on nifty
On upside we find immediate resistance at 5235 break past this level can take Nifty to 5400
Pick No 1 - buy jai prakash (cmp 273.55) - Looks set for rally looks a good buy at this level or upto 276 keep a stop loss of 268. Final target and final stop loss only to clients.
Pick No 2 - wwil (cmp - 46.35) - Wits on its way for another breakout. Can buy around 46 - 47. Ideal stop loss would be 44. Final target and stop loss only for clients.
Indian Markets as usual with no local news will try to bank on the global news with bears trying to take advantage. But we started late how can we go down tamely? We do not expect any major losses in the Indices today though subdued movement with wild swings not ruled out. Sensex has gained nearly 1200 points in the last two trading sessions and it requires a consolidation. Huge short interest build up is a definite positive for the Bulls.
Power sector was in the limelight yesterday after beaten down due to the R Power debacle. Technology stocks which held their nerve in the last one month took a back seat yesterday. Pre-budget expectations are likely to start building up some time next week. Textile is likely to be the major beneficiary from the budget this year. As per a pink paper report Central Govt is expected to raise allocation to two key support schemes for the industry, the Technology Upgradation Fund Scheme (TUFS) and Scheme for Integrated Textiles Parks (SITP), in the coming Budget. Financial Technologies is likely to be in the limelight on the news that New York Stock Exchange (NYSE) will pick up 5% stake in Multi Commodity Exchange (MCX).
Financial Technologies, PFC, Pyramid Saimira, NTPC, Lanco Infra, Wipro, Renaissance Jewellery, Parsvnath Developers are the stocks that hit the headlines today.
Renaissance Jewellery aquires JBR Inc for Rs 160 crore. JBR Inc's major clients include US retail gaints like JC Penny, Sears and others.
Pyramid Saimira is reportedly in talks with a theatre chain in UK for a potential take over. The company is planning to raise $400 million in funds for the said proposal.
Power Finance Corporation Ltd (PFC) is planning to raise $4 bn in 2009.
Parsvnath Developers is likely to be the front runner for land facing Citigroup Inc.’s office in Mumbai’s Bandra-Kurla area.
Parsvnath Developers is one of at least three Indian developers considering bids for land facing Citigroup Inc.’s office in Mumbai’s Bandra-Kurla area, undeterred by the city doubling the reserve price, bowing to the pressure from the Ministry of Commerce.
NTPC is planning to invest $40 b over next 5 years to to spread out operations across Asia and Africa. The company plans to set up power plants abroad is eyeing a 50,000 MW-plus capacity by 2012.
Lanco Infratech is planning to set up one of the country’s largest wind turbines manufacturing facilities in Karnataka
Wipro Infotech has won a five-year Rs 200 crore worth IT outsourcing contract from Pantaloon Retail (India) Ltd
News Snippets:
LN Mittal and Farallon Capital invest Rs15.8bn for 28.6% stake in Indiabulls Power Services.
NTPC to invest US$40bn over the next five year, to transform itself into an integrated regional energy player.
Mastek likely to buy a US-based IT firm System Task Group International for US$30mn.
Satyam Computer to add 3,000 employee’s by March end.
L&T Infotech has put its IPO plans on hold.
L&T wins an order from Qatar worth Rs3.11bn.
Haldia Petrochemicals is set to buy L&T 51% stake in HPL Cogeneration.
TCS plans to reach revenue of US$800mn-US$1bn from domestic market.
IOC to launch its marine fuel business globally.
Nirma set to mop up Rs15bn via QIP.
BHEL gets Rs2bn order from ONGC.
Wipro Infotech bags US$50mn 5 year outsourcing contract from Pantaloon retail.
Spanco Telesystems acquires Great IT for an undisclosed amount.
Orchid Chemical gets US FDA nod for Granisetron Hydrochloride tablets.
Sun Pharma receives tentative approval from US FDA for generic Depakote.
DE Shaw Valence picks up 5.7% stake in Orient Express Hotels.
Wipro may buy a German based company in next 6 months.
Tata’s and Boeing enter into a JV, to outsource and manufacture defence-related aero space component work in India.
HPCL to shut gas oil unit at its Vizag refinery for 10 days.
Kirloskar Brothers is looking to buy a European based pump manufacturing and marketing companies.
Shree Cement plans to set up a cement plant of 2MT per annum at a cost of Rs20bn.
EID Parry buys 51% stake in Phytoremedies.
Jubilant Energy discovers Oil and Gas in Cauvery basin.
Maruti Alto has crossed 1mn production mark.
PFC to enter financial advisory services.
Economy Front Page
The Government hikes petrol and diesel prices by Rs2 per litre and Re1 per litre respectively.
Steel companies agree to roll back price hike with immediate effect.
The DoT plans to change spectrum usage charges levied on telecom companies, to a fix percentage of revenue for each category circles.
PM panel suggest reduction in import duty from 10% to 5% in machinery and introduction of mechanism for textile sector.
PM says Indian can sustain 9% GDP growth.
RBI denies a rate cut in short-term citing high inflation.
Agriculture ministry has proposed 1%cess on direct taxes and 2% on indirect taxes.
Export from IT and ITES based SEZ to double in FY09
As we told you 2 days back when nifty was 4850, that certain signals are showing that we are on a bullish trend and you could see what happen after that Nifty at 5200
Nifty looks minor bullish for tomorrow as long as it stays above 5235, but the direction is not clear yet.
The only concern was global clues which are down,On the downfall nifty finds a support at 5180 and then 5120.
5120 should act as a very good support any break below this can target 4940 on nifty
On upside we find immediate resistance at 5235 break past this level can take Nifty to 5400
Pick No 1 - buy jai prakash (cmp 273.55) - Looks set for rally looks a good buy at this level or upto 276 keep a stop loss of 268. Final target and final stop loss only to clients.
Pick No 2 - wwil (cmp - 46.35) - Wits on its way for another breakout. Can buy around 46 - 47. Ideal stop loss would be 44. Final target and stop loss only for clients.
Indian Markets as usual with no local news will try to bank on the global news with bears trying to take advantage. But we started late how can we go down tamely? We do not expect any major losses in the Indices today though subdued movement with wild swings not ruled out. Sensex has gained nearly 1200 points in the last two trading sessions and it requires a consolidation. Huge short interest build up is a definite positive for the Bulls.
Power sector was in the limelight yesterday after beaten down due to the R Power debacle. Technology stocks which held their nerve in the last one month took a back seat yesterday. Pre-budget expectations are likely to start building up some time next week. Textile is likely to be the major beneficiary from the budget this year. As per a pink paper report Central Govt is expected to raise allocation to two key support schemes for the industry, the Technology Upgradation Fund Scheme (TUFS) and Scheme for Integrated Textiles Parks (SITP), in the coming Budget. Financial Technologies is likely to be in the limelight on the news that New York Stock Exchange (NYSE) will pick up 5% stake in Multi Commodity Exchange (MCX).
Financial Technologies, PFC, Pyramid Saimira, NTPC, Lanco Infra, Wipro, Renaissance Jewellery, Parsvnath Developers are the stocks that hit the headlines today.
Renaissance Jewellery aquires JBR Inc for Rs 160 crore. JBR Inc's major clients include US retail gaints like JC Penny, Sears and others.
Pyramid Saimira is reportedly in talks with a theatre chain in UK for a potential take over. The company is planning to raise $400 million in funds for the said proposal.
Power Finance Corporation Ltd (PFC) is planning to raise $4 bn in 2009.
Parsvnath Developers is likely to be the front runner for land facing Citigroup Inc.’s office in Mumbai’s Bandra-Kurla area.
Parsvnath Developers is one of at least three Indian developers considering bids for land facing Citigroup Inc.’s office in Mumbai’s Bandra-Kurla area, undeterred by the city doubling the reserve price, bowing to the pressure from the Ministry of Commerce.
NTPC is planning to invest $40 b over next 5 years to to spread out operations across Asia and Africa. The company plans to set up power plants abroad is eyeing a 50,000 MW-plus capacity by 2012.
Lanco Infratech is planning to set up one of the country’s largest wind turbines manufacturing facilities in Karnataka
Wipro Infotech has won a five-year Rs 200 crore worth IT outsourcing contract from Pantaloon Retail (India) Ltd
News Snippets:
LN Mittal and Farallon Capital invest Rs15.8bn for 28.6% stake in Indiabulls Power Services.
NTPC to invest US$40bn over the next five year, to transform itself into an integrated regional energy player.
Mastek likely to buy a US-based IT firm System Task Group International for US$30mn.
Satyam Computer to add 3,000 employee’s by March end.
L&T Infotech has put its IPO plans on hold.
L&T wins an order from Qatar worth Rs3.11bn.
Haldia Petrochemicals is set to buy L&T 51% stake in HPL Cogeneration.
TCS plans to reach revenue of US$800mn-US$1bn from domestic market.
IOC to launch its marine fuel business globally.
Nirma set to mop up Rs15bn via QIP.
BHEL gets Rs2bn order from ONGC.
Wipro Infotech bags US$50mn 5 year outsourcing contract from Pantaloon retail.
Spanco Telesystems acquires Great IT for an undisclosed amount.
Orchid Chemical gets US FDA nod for Granisetron Hydrochloride tablets.
Sun Pharma receives tentative approval from US FDA for generic Depakote.
DE Shaw Valence picks up 5.7% stake in Orient Express Hotels.
Wipro may buy a German based company in next 6 months.
Tata’s and Boeing enter into a JV, to outsource and manufacture defence-related aero space component work in India.
HPCL to shut gas oil unit at its Vizag refinery for 10 days.
Kirloskar Brothers is looking to buy a European based pump manufacturing and marketing companies.
Shree Cement plans to set up a cement plant of 2MT per annum at a cost of Rs20bn.
EID Parry buys 51% stake in Phytoremedies.
Jubilant Energy discovers Oil and Gas in Cauvery basin.
Maruti Alto has crossed 1mn production mark.
PFC to enter financial advisory services.
Economy Front Page
The Government hikes petrol and diesel prices by Rs2 per litre and Re1 per litre respectively.
Steel companies agree to roll back price hike with immediate effect.
The DoT plans to change spectrum usage charges levied on telecom companies, to a fix percentage of revenue for each category circles.
PM panel suggest reduction in import duty from 10% to 5% in machinery and introduction of mechanism for textile sector.
PM says Indian can sustain 9% GDP growth.
RBI denies a rate cut in short-term citing high inflation.
Agriculture ministry has proposed 1%cess on direct taxes and 2% on indirect taxes.
Export from IT and ITES based SEZ to double in FY09
Thursday, February 14, 2008
Valentine’s Day….No bears please!
Indian Markets ready for a blast, midcaps to join the feast.
See what we wrote yesterday.
Market likely to show positive movement from now on words. Some positive sign are ---
Market Oversold
FNO Low open interest
Budget around the corner
No more IPO
(How true we were in this)
Market still looking positive,Be careful at higher levels.
The immediate good resistance market finds between 4940 followed by 5020.On successfully crossing this level of 5020 market should test 5115 - 5130.Market find a good support at 4820 and 4740.
Indian Markets are likely to jump on the positive global news and this time we expect the midcaps to participate in the rally today after a likely hesitant start. IT, Media, Banks, Metals and Infrastructure are likely to participate in the rally with IT and Banks likely to fight for the leadership.
Andhra Pradesh Govt announced a reduction in sales tax on aviation turbine fuel (ATF) from the existing 33% to 4%. GOvt is likely to take a hit of Rs 50-60 crore, to be shared between the airlines. We expect majority of the states to follow suit. This is definitely positive for listed airline companies Deccan Aviation, Spice Jet and Jet Airways.
Satyam is reported to bag eight deals worth nearly $50 million. We are extremely positive on IT companies going forward. Though we do not have any resistance levels till 19,240 for Sensex a lot depends on today's session. A upside movement of 500-600 points on a closing basis for Sensex is likely to trigger more short covering and then followed by a pre-budget rally is likely to bring comfort levels to investors.
Reliance Industries on wednesday said it has discovered natural gas at a deepwater block in Krishna basin, which is north of country’s largest natural gas reserve Krishna Godavari (KG) basin. Today is likely to be a day-trader's paradise and we hope to see the smiles back
Pick No 1 - buy Essar Oil (cmp 184) - Clients already have a holding of it from 169 level. It still look good at this level of 184. Can look to buy with a stop loss of 178 for a good target of 19*. Full target only to clients,
Pick No 2 - Buy ITC (cmp 195.95) - Looks a good buy at this level ideal stop loss would be below 193. Momentum expected to get stronger once crosses 199 successfully. Final target and stop loss only to clients.
Stock in news
DLF Limited, Indbank, ONGC, Zensar, Mastek, ICICI Bank and many more are stocks in news today.
Indbank Merchant Banking opened first 'trading cafe' for stock trading in Chennai. It plans to open another 20 such cafes and 18 new branches during 2008-09 across the country.
ICICI Bank is reportedly getting ready to offload their non-performing home loans to the Asset Reconstruction Company (India) Ltd (Arcil).
Consumer products company Hindustan Unilever Ltd (HUL) reported its highest quarterly growth in the last nine years, with net sales growing by as much as 16.8% in the December quarter.
DLF bags title sponsorship rights of IPL Twenty20 at Rs 200 cr for a period of 5 years
Zensar Technologies, a Pune-based IT and BPO services firm is close to making two acquisitions in Germany and Switzerland.
Axis Bank became the first private sector bank to cut its benchmark prime lending rate (BPLR) 25 basis points to 14.75% effective thursday.
Mastek Ltd is likely to acquire two companies one company each in the US and UK. The company has set aside $40 million for acquisitions.
Russia’s Rosneft has expressed interest in participating in ONGC’s proposed liquefied natural gas (LNG) terminal in Mangalore. ONGC is planning to set up a five-million-tonne-per-annum LNG terminal at Mangalore
News Snippets:
Reliance Infratel commits to Rs78bn exports in eight years.
Elder Healthcare to market VLCC’s male grooming products.
HUL’s net profit rises by 24% yoy in quarter ended December 2008.
Jain Irrigation signs pact with Israel water firm Mekorot Water Company for infrastructure projects in India.
DLF wins title sponsorship rights of IPL Twenty20 for Rs2bn for five years.
Hero Honda expects flat sales for FY08 on account of financing issues.
NTPC’s US$250mn project in Sri Lanka to begin next year.
Gail signs pact with ITERA Oil and Gas Company of Russia for cooperation in hydrocarbon sector.
Jubilant Group to grow retail presence in southern cities.
Paramount Airways in talks to buy wide-body aircraft.
Bharti Airtel consumer base reaches 60mn.
Air India and Jet Airways plan to buy 60 Boeing wide-body aircrafts.
Gujarat State Petroleum Corporation (GSPC) seeks permission for exploration in Saurashtra-Kutch region.
Eicher Motors’ January 2008 sales decline by 17% yoy.
Satyam Computers may win eight orders worth US$50mn.
Ranbaxy Laboratories to consider turning its research unit into a separate company.
Parsvnath and Indiabulls Real Estate to jointly bid for 10 prime locations offered by India Railways.
TVS Motor launches its first electric scooter for an ex-showroom price of Rs32,500.
PVR enters into an agreement with Thailand-based Cineplex Group for lifestyle entertainment.
Tata Communication, formerly known VSNL, to invest $2bn over the next three years to expand its submarine cable business.
Essar Shipping board approved merger of Mauritius-based Indian Shipping with the company.
Axis Bank reduces its benchmark prime lending rate by 25bps and mortgage reference rate has reduced by 50bps.
Japanese major NEC Electronics selects Wipro for semiconductor design services.
Fitch Ratings and PNB signs a MoU for bank loan ratings.
Crompton Greaves acquires 40% stake in their Indonesian joint venture PT Pauwels Trafo for US$10.7mn.
Mastek to raise US$40mn to fund its acquisition in US and UK before June 2008.
Reliance Money commences operations on the Dubai Gold and Commodity Exchange from Wednesday.
NTPC agrees to invest Rs4.75bn in Ratnagiri Gas & Power to increase capacity charge.
Gail plans to complete natural gas pipeline project, Vijaypur-Dadri and from Dadri to Bawana pipeline in best 24 months.
Economic News
Mandatory for art funds to register with SEBI.
Exports from SEZs grow 200% in two years.
DoT to impose one time entry fee for all spectrum allocation beyond 6.2Mhz.
Chandrasekhar Bhave to takeover as next chairman of SEBI.
Steel minister and steel manufacturers to meet on Feb 14, 2008 to discuss possibility of partial roll back in steel prices.
Pharma industry seeks extension of export related tax incentive for another five years.
The six key infrastructure industries production slips to 4% in December 2007, less than half 9% achieved a year ago.
The Cabinet Committee on Political affairs likely to consider raising petrol and diesel prices today
See what we wrote yesterday.
Market likely to show positive movement from now on words. Some positive sign are ---
Market Oversold
FNO Low open interest
Budget around the corner
No more IPO
(How true we were in this)
Market still looking positive,Be careful at higher levels.
The immediate good resistance market finds between 4940 followed by 5020.On successfully crossing this level of 5020 market should test 5115 - 5130.Market find a good support at 4820 and 4740.
Indian Markets are likely to jump on the positive global news and this time we expect the midcaps to participate in the rally today after a likely hesitant start. IT, Media, Banks, Metals and Infrastructure are likely to participate in the rally with IT and Banks likely to fight for the leadership.
Andhra Pradesh Govt announced a reduction in sales tax on aviation turbine fuel (ATF) from the existing 33% to 4%. GOvt is likely to take a hit of Rs 50-60 crore, to be shared between the airlines. We expect majority of the states to follow suit. This is definitely positive for listed airline companies Deccan Aviation, Spice Jet and Jet Airways.
Satyam is reported to bag eight deals worth nearly $50 million. We are extremely positive on IT companies going forward. Though we do not have any resistance levels till 19,240 for Sensex a lot depends on today's session. A upside movement of 500-600 points on a closing basis for Sensex is likely to trigger more short covering and then followed by a pre-budget rally is likely to bring comfort levels to investors.
Reliance Industries on wednesday said it has discovered natural gas at a deepwater block in Krishna basin, which is north of country’s largest natural gas reserve Krishna Godavari (KG) basin. Today is likely to be a day-trader's paradise and we hope to see the smiles back
Pick No 1 - buy Essar Oil (cmp 184) - Clients already have a holding of it from 169 level. It still look good at this level of 184. Can look to buy with a stop loss of 178 for a good target of 19*. Full target only to clients,
Pick No 2 - Buy ITC (cmp 195.95) - Looks a good buy at this level ideal stop loss would be below 193. Momentum expected to get stronger once crosses 199 successfully. Final target and stop loss only to clients.
Stock in news
DLF Limited, Indbank, ONGC, Zensar, Mastek, ICICI Bank and many more are stocks in news today.
Indbank Merchant Banking opened first 'trading cafe' for stock trading in Chennai. It plans to open another 20 such cafes and 18 new branches during 2008-09 across the country.
ICICI Bank is reportedly getting ready to offload their non-performing home loans to the Asset Reconstruction Company (India) Ltd (Arcil).
Consumer products company Hindustan Unilever Ltd (HUL) reported its highest quarterly growth in the last nine years, with net sales growing by as much as 16.8% in the December quarter.
DLF bags title sponsorship rights of IPL Twenty20 at Rs 200 cr for a period of 5 years
Zensar Technologies, a Pune-based IT and BPO services firm is close to making two acquisitions in Germany and Switzerland.
Axis Bank became the first private sector bank to cut its benchmark prime lending rate (BPLR) 25 basis points to 14.75% effective thursday.
Mastek Ltd is likely to acquire two companies one company each in the US and UK. The company has set aside $40 million for acquisitions.
Russia’s Rosneft has expressed interest in participating in ONGC’s proposed liquefied natural gas (LNG) terminal in Mangalore. ONGC is planning to set up a five-million-tonne-per-annum LNG terminal at Mangalore
News Snippets:
Reliance Infratel commits to Rs78bn exports in eight years.
Elder Healthcare to market VLCC’s male grooming products.
HUL’s net profit rises by 24% yoy in quarter ended December 2008.
Jain Irrigation signs pact with Israel water firm Mekorot Water Company for infrastructure projects in India.
DLF wins title sponsorship rights of IPL Twenty20 for Rs2bn for five years.
Hero Honda expects flat sales for FY08 on account of financing issues.
NTPC’s US$250mn project in Sri Lanka to begin next year.
Gail signs pact with ITERA Oil and Gas Company of Russia for cooperation in hydrocarbon sector.
Jubilant Group to grow retail presence in southern cities.
Paramount Airways in talks to buy wide-body aircraft.
Bharti Airtel consumer base reaches 60mn.
Air India and Jet Airways plan to buy 60 Boeing wide-body aircrafts.
Gujarat State Petroleum Corporation (GSPC) seeks permission for exploration in Saurashtra-Kutch region.
Eicher Motors’ January 2008 sales decline by 17% yoy.
Satyam Computers may win eight orders worth US$50mn.
Ranbaxy Laboratories to consider turning its research unit into a separate company.
Parsvnath and Indiabulls Real Estate to jointly bid for 10 prime locations offered by India Railways.
TVS Motor launches its first electric scooter for an ex-showroom price of Rs32,500.
PVR enters into an agreement with Thailand-based Cineplex Group for lifestyle entertainment.
Tata Communication, formerly known VSNL, to invest $2bn over the next three years to expand its submarine cable business.
Essar Shipping board approved merger of Mauritius-based Indian Shipping with the company.
Axis Bank reduces its benchmark prime lending rate by 25bps and mortgage reference rate has reduced by 50bps.
Japanese major NEC Electronics selects Wipro for semiconductor design services.
Fitch Ratings and PNB signs a MoU for bank loan ratings.
Crompton Greaves acquires 40% stake in their Indonesian joint venture PT Pauwels Trafo for US$10.7mn.
Mastek to raise US$40mn to fund its acquisition in US and UK before June 2008.
Reliance Money commences operations on the Dubai Gold and Commodity Exchange from Wednesday.
NTPC agrees to invest Rs4.75bn in Ratnagiri Gas & Power to increase capacity charge.
Gail plans to complete natural gas pipeline project, Vijaypur-Dadri and from Dadri to Bawana pipeline in best 24 months.
Economic News
Mandatory for art funds to register with SEBI.
Exports from SEZs grow 200% in two years.
DoT to impose one time entry fee for all spectrum allocation beyond 6.2Mhz.
Chandrasekhar Bhave to takeover as next chairman of SEBI.
Steel minister and steel manufacturers to meet on Feb 14, 2008 to discuss possibility of partial roll back in steel prices.
Pharma industry seeks extension of export related tax incentive for another five years.
The six key infrastructure industries production slips to 4% in December 2007, less than half 9% achieved a year ago.
The Cabinet Committee on Political affairs likely to consider raising petrol and diesel prices today
Wednesday, February 13, 2008
ADAG PACK TO SHOW ITS FUN ??????
SUBSCRIBER'S WIll BENEFIT ADD sheth_jg@yahoo.com for paid service
Market likely to show positive movement from now on words. Some positive sign are ---
Market Oversold
FNO Low open interest
Budget around the corner
No more IPO
The market facing good support at 4740. On break of this we can see 4500.
The immediate good resistance market finds between 4930 - 4950..
On successfully crossing this level market should test 5020 and then 5070
Something which I would like to share with you got from... BUT FOR MEMBERS ONLY
Pick No 1 - Buy Unitech (cmp 309.5) - Looks good at this level. can take stop loss at 304. Good for intraday and also good for positional. Final target only to clients. Clients will be informed about the final target and stop loss through SMS only.
PICK NO 2 - BUY HDFC BANK - Clients will be informed about the final target and stop loss through SMS only.
SEBI is reported to be considering to implement circuit filters for the stocks traded in the F&O segment. SEBI should have proactively come up with this solution last Novemeber when we started witnessing 50% gains in stocks traded in F&O in a single day. Better late than never.
Media stocks appear to have bottomed out compared to other sectors looking at the trading patterns yesterday. Likes of Balaji Tele, Sun TV, UTV Software, Zee Enterprises have gained in a choppy trade. Other prominent gainers yesterday include Axis Bank. Nitin Fire, Reliance capital, Educomp solutions.
Markets are expected to open in green today and the trade is likely to be choppy with bouts of volatility. As mentioned number of times long term investors are adviced to pump money into the markets. There will be no better times than these to invest in Indian Equities. Pre-budget rally along with short covering is imminent and likely to emerge in the next 10 days though the magnitude of the upmove might be less.
STOCK IN NEWS
India Infoline, UTV Software, HDFC Bank and other stocks hit the headlines today.
HDFC Bank has signed a $7.4 million deal,spanning three years with Symantec for IT compliance, enterprise security and storage management solutions.
UTV Software as per reports finalized the strategic partner for its broadcasting venture.
India Infoline will be raising Rs 555 crore through allotment of 37 lakh shares on preferential basis to Orient Global Tamarind Fund Pte Ltd, a Singapore-based private investment company
PVR bounced slipped 3.5% to Rs227. The company agrees to entertainment venture with major Cineplex group. The scrip touched an intra-day high of Rs242 and a low of Rs224 and recorded volumes of over 3, 000 shares on BSE.
News Snippets:
Bajaj Auto says the feasibility study on a possible JV for its small car project would be completed by early March.
NTPC is in talks with GE, Kyushu Electric Power Co. of Japan and Brookfield Power Corp of Canada for a JV in renewable power generation.
M&M to sign a pact with Sri Lanka government to set up US$100mn IT SEZ.
TCS plans to reorganise its global operations into integrated, customer-centric units to enhance customer focus, drive operational agility and address growth opportunities.
L&T bags Rs14.4bn order from Netherlands to supply eight lift vessels.
Domestic airlines to increase air fares, in anticipation of a steep 40% rise in airport charges in Bangalore, Hyderabad, Delhi and Mumbai.
IOC will invest Rs35bn to lay 2,080 km crude oil and petroleum product pipeline by 2011-12.
JSW Steel is focusing on improving efficiency and profitability levels of the three companies it acquired recently in Texas, US.
ICICI Bank, HDFC Bank and IDFC in the race to acquire Sabre Capital's stake in Centurion Bank of Punjab.
Indus Tower, a JV between Bharti, Vodafone and Idea to tap capital markets in 3 years.
Thermax is strengthening its presence in the water treatment business; plans to look at opportunities in cities, SEZs and municipal facilities.
Thermax enters into a technical collaboration with Babcock & Wilcox Power Generation Group to foray into utility boilers of up to 800MW.
NMDC is expecting iron ore prices to gain up to 50% by April 2009.
Asset Reconstruction Company (Arcil) has disposed of Rs39.2bn of securitised bad loans portfolio to Deutsche Bank.
Kingfisher may replace Deccan’s peak-hour flights on metro routes as part of the route rationalization program.
Air Deccan and Kingfisher swap deal to be finalized by April.
Indo Tech Transformers has commissioned a plant to manufacture 220Kv and 400Kv class power transformers near Kancheepuram.
McNally Bharat wins an order worth Rs6.9bn from SAIL.
Pipavav Shipyard will deliver its first Panamax vessel to a Greek firm by March 2009
GMDC plans to set up three plants to generate 4,500MW and invest around Rs200bn.
Wockhardt to launch Azithromycin anti infection tablets in US.
Hinduja Group plans to set up 1,600MW power plant in Vishakapatnam.
Vivemed buys UK based company for US$21.1mn.
Pyramid Samaria to acquire a UK theatre chain company.
Economic NEWS:
CBDT has sought an amendment to Section 115 AD of the I-T Act so that all FIIs pay capital gains tax on their profits in India.
The steel ministry’s meeting with major steel producers on price cut ended inconclusively. The two sides are expected to meet again.
The FM has asked PSBs to implement the interest-free loan package for sugar mills in letter and spirit and submit a report by Feb 22.
The government has told TDSAT that it would allot spectrum to all players with LoIs for starting telephone services, but a lot depends on defense services vacating radio frequencies for civilian use.
The FM has asked PSBs to lend more to housing and consumer durables borrowers at affordable cost.
RBI may regulate currency futures trading.
IIFCL may get US$250mn from forex reserve for funding infrastructure.
Government may use forex reserves to create price stabilization fund for petroleum products.
Container freight rates from Indian ports to key European ports will increase by US$100 per TEU from March 1.
The finance ministry has proposed withdrawing direct tax benefits to offshore banking units (OBU) on the profits earned from SEZs.
India’s exports to the US in steel containers fell 5.7% in the first 11 months of 2007 over the same period in 2006.
Finance ministry is considering cutting duty to 8% from 16% on packaging material.
Market likely to show positive movement from now on words. Some positive sign are ---
Market Oversold
FNO Low open interest
Budget around the corner
No more IPO
The market facing good support at 4740. On break of this we can see 4500.
The immediate good resistance market finds between 4930 - 4950..
On successfully crossing this level market should test 5020 and then 5070
Something which I would like to share with you got from... BUT FOR MEMBERS ONLY
Pick No 1 - Buy Unitech (cmp 309.5) - Looks good at this level. can take stop loss at 304. Good for intraday and also good for positional. Final target only to clients. Clients will be informed about the final target and stop loss through SMS only.
PICK NO 2 - BUY HDFC BANK - Clients will be informed about the final target and stop loss through SMS only.
SEBI is reported to be considering to implement circuit filters for the stocks traded in the F&O segment. SEBI should have proactively come up with this solution last Novemeber when we started witnessing 50% gains in stocks traded in F&O in a single day. Better late than never.
Media stocks appear to have bottomed out compared to other sectors looking at the trading patterns yesterday. Likes of Balaji Tele, Sun TV, UTV Software, Zee Enterprises have gained in a choppy trade. Other prominent gainers yesterday include Axis Bank. Nitin Fire, Reliance capital, Educomp solutions.
Markets are expected to open in green today and the trade is likely to be choppy with bouts of volatility. As mentioned number of times long term investors are adviced to pump money into the markets. There will be no better times than these to invest in Indian Equities. Pre-budget rally along with short covering is imminent and likely to emerge in the next 10 days though the magnitude of the upmove might be less.
STOCK IN NEWS
India Infoline, UTV Software, HDFC Bank and other stocks hit the headlines today.
HDFC Bank has signed a $7.4 million deal,spanning three years with Symantec for IT compliance, enterprise security and storage management solutions.
UTV Software as per reports finalized the strategic partner for its broadcasting venture.
India Infoline will be raising Rs 555 crore through allotment of 37 lakh shares on preferential basis to Orient Global Tamarind Fund Pte Ltd, a Singapore-based private investment company
PVR bounced slipped 3.5% to Rs227. The company agrees to entertainment venture with major Cineplex group. The scrip touched an intra-day high of Rs242 and a low of Rs224 and recorded volumes of over 3, 000 shares on BSE.
News Snippets:
Bajaj Auto says the feasibility study on a possible JV for its small car project would be completed by early March.
NTPC is in talks with GE, Kyushu Electric Power Co. of Japan and Brookfield Power Corp of Canada for a JV in renewable power generation.
M&M to sign a pact with Sri Lanka government to set up US$100mn IT SEZ.
TCS plans to reorganise its global operations into integrated, customer-centric units to enhance customer focus, drive operational agility and address growth opportunities.
L&T bags Rs14.4bn order from Netherlands to supply eight lift vessels.
Domestic airlines to increase air fares, in anticipation of a steep 40% rise in airport charges in Bangalore, Hyderabad, Delhi and Mumbai.
IOC will invest Rs35bn to lay 2,080 km crude oil and petroleum product pipeline by 2011-12.
JSW Steel is focusing on improving efficiency and profitability levels of the three companies it acquired recently in Texas, US.
ICICI Bank, HDFC Bank and IDFC in the race to acquire Sabre Capital's stake in Centurion Bank of Punjab.
Indus Tower, a JV between Bharti, Vodafone and Idea to tap capital markets in 3 years.
Thermax is strengthening its presence in the water treatment business; plans to look at opportunities in cities, SEZs and municipal facilities.
Thermax enters into a technical collaboration with Babcock & Wilcox Power Generation Group to foray into utility boilers of up to 800MW.
NMDC is expecting iron ore prices to gain up to 50% by April 2009.
Asset Reconstruction Company (Arcil) has disposed of Rs39.2bn of securitised bad loans portfolio to Deutsche Bank.
Kingfisher may replace Deccan’s peak-hour flights on metro routes as part of the route rationalization program.
Air Deccan and Kingfisher swap deal to be finalized by April.
Indo Tech Transformers has commissioned a plant to manufacture 220Kv and 400Kv class power transformers near Kancheepuram.
McNally Bharat wins an order worth Rs6.9bn from SAIL.
Pipavav Shipyard will deliver its first Panamax vessel to a Greek firm by March 2009
GMDC plans to set up three plants to generate 4,500MW and invest around Rs200bn.
Wockhardt to launch Azithromycin anti infection tablets in US.
Hinduja Group plans to set up 1,600MW power plant in Vishakapatnam.
Vivemed buys UK based company for US$21.1mn.
Pyramid Samaria to acquire a UK theatre chain company.
Economic NEWS:
CBDT has sought an amendment to Section 115 AD of the I-T Act so that all FIIs pay capital gains tax on their profits in India.
The steel ministry’s meeting with major steel producers on price cut ended inconclusively. The two sides are expected to meet again.
The FM has asked PSBs to implement the interest-free loan package for sugar mills in letter and spirit and submit a report by Feb 22.
The government has told TDSAT that it would allot spectrum to all players with LoIs for starting telephone services, but a lot depends on defense services vacating radio frequencies for civilian use.
The FM has asked PSBs to lend more to housing and consumer durables borrowers at affordable cost.
RBI may regulate currency futures trading.
IIFCL may get US$250mn from forex reserve for funding infrastructure.
Government may use forex reserves to create price stabilization fund for petroleum products.
Container freight rates from Indian ports to key European ports will increase by US$100 per TEU from March 1.
The finance ministry has proposed withdrawing direct tax benefits to offshore banking units (OBU) on the profits earned from SEZs.
India’s exports to the US in steel containers fell 5.7% in the first 11 months of 2007 over the same period in 2006.
Finance ministry is considering cutting duty to 8% from 16% on packaging material.
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