While global markets go ga ga, Dalal Street sees a soft opening

US Markets had a field day on Thursday as worries about Ireland's debt situation eased and better than expected jobless claims data.

Asian markets are trading higher on Friday on global cues. Barring Dalal Street rest of the global markets clocked decent gains on Thursday. Looking at Singapore Nifty at 07:00 AM IST today, the cues suggest another volatile day and traders are cautious to take positions to the upside.

Yesterday's rocky session caught traders on the wrong foot and we advice investors to stay put and cherry pick stocks at lower levels. While the current sell-off is not driven by any fundamental reasons, the year-end profit booking seems to have advanced and Chinese rate hike fears is just an excuse.

Midcaps to stay weak

During the current conditions Midcaps and Smallcaps will be out of favour and action will be more focussed on Largecap stocks. It is indeed a good time to add quality midcap stocks.

Inflation data is softening and thats good news for investors. The data will relieve RBI from considering another rate hike in the near term. FIIs were net sellers in Index Futures, Index Options and in Cash segment.

We expect market to open flat despite amazing global cues and staying short at these oversold levels might be a little tricky but certainly momentum is not showing any bullish moves.

Nikkei, the only Asian market weathering the storm

Bears are likely to dictate terms in the early session when Dalal Street opens for trade on Thursday morning on weak Asian cues.

Except for Japanese market Nikkei, rest of the Asian markets were hit really hard in the past one week. Wall Street closed the day flat on good retail sales numbers.

Traders eyeing technicals

While Nifty has huge support at 5970 level the next major support stands at 5840, we still believe that Bulls have an out and out chance in today's trade to protect the major support level today.

Traders should keep an eye on next week's F&O expiry. For now the "Max Pain" for Nifty stands at 6000 levels and it is worth noticing that FIIs were net buyers in Index options and Index Futures on Wednesday.

Chinese rate hike fears are overblown and we expect things to settle down soon. Investors are adviced to start adding stocks to their kitty but avoid buying at a single price inorder to tackle market corrections

Calm after storm, Dalal Street to open flat

Mumbai stocks are most likely to open marginally in the green after Asian markets are trading positively on Ireland bail out news. Japan's gross domestic product grew 0.9% in the July-September quarter, picking up from 0.4% growth in the previous three months, pushing Japanese stocks higher.

Irish Bailout

While till yesterday Irish officials were denying EU bailout, Germany pushed to accept a bailout and help reverse a bond sell-off across the euro-region’s periphery.

Dalal Street - Subdued open on cards

We expect Indian markets to open in the green after severe battering in the last two trading sessions. It is not advisable to go short at higher levels atleast for today. One should be cautious with commodity stocks along with Banking stocks.

While Finance minister's comments about 9 pct growth might not bring too much cheer from the market, dead cat bounce might bring in some gains to the market. We believe the trend would be clear only after Wednesday and one should be cautious in the next three trading sessions.

We do not have a second thought in saying this correction is just a passing cloud and Indian markets will be back on track soon

GMR might sell Intergen stake to China's Huaneng Power

Dalal Street might be heading for another gap down open despite of flattish global cues on the the last trading day for the weak, thanks to hectic selling in Index futures by the FIIs.

Wall Street received a jolt in the form of Cisco's weak estimates but recovered from the lows of the day. Asian markets are trading down marginally.

GMR to sell Intergen stake

Chinese utility company Huaneng Power emerged the highest bidder for the purchase of 50 per cent stake in InterGen, which was put on the block by GMR. Investment banking sources say Huaneng one of the largest power companies in China is known to have put in a bid for as much as $1.5 billion.

GMR bought the stake for $1.1 billion in October 2008.

Intensive Selling

Yesterday's afternoon session reminded the days of Euro crisis and we witnessed a big round of basket selling. We believe the selling is something related to domestic factors and nothing to do with global crisis or Kospi's slide in yesterday's trade. Year end profit booking is one thing we can think of and slow down of inflows due to holiday season might added weight to the selling.

Current selling should be treated as a good oppurtunity for adding fundamentally sound counter

Diwali boosts October car sales, US Dollar loses steam

Wall Street closed marginally higher on wednesday as the US Dollar slipped from one month highs against other major global currencies. The Fed’s plan to buy U.S. bonds in a bid to push interest rates down to spur spending and bank lending has had the dollar weakening against other currencies, making U.S. exports less expensive to holders of other currencies.

Asian markets are trading in the green with Nikkei leading the way on weaker Yen. Australia's unemployment rate unexpectedly rises to 5.4%, a little above estimates.

October car sales surge

October sales increased 38% to 182,992 vehicles from 132,615 a year earlier, according to data issued Wednesday by the SIAM (Society of Indian Automobile Manufacturers), an industry lobby group. October was the fifth-straight month of record car sales, outpacing the previous high of 169,082 sales in September.

In other news IT giant Infosys Technologies Ltd , India's second-largest outsourcing firm, said on Wednesday it was looking for acquisitions in Japan.

Nifty - News highs a teaser

Markets are finding it tough to spike from the last three trading sessions. We believe the cheap dollars will continue to flow into Dalal Street and it is just a matter of time we see new highs. A strong Realty and Infrastructure stock rally is round the corner. Place your bets here.

Expect Indian markets to trade positively today and volatility might die down

Tata Motors stellar Q2 likely to push Indices higher

Dalal Street is likely to open in the green today and make an attempt to conquer new highs after Tata Motors announced excellent Q2.

Wall Street suffered a rare pullback on Tuesday as bank stocks dropped and worries about Europe's debt mess continue to resurface, sparking heavy selling of the closely-watched euro.

Asian markets are trading in the green and is likely to boost Dalal Street.

Tata Motors - Superb Q2

Tata Motors reported its highest-ever quarterly profit, boosted by a 43% jump in revenue at the Jaguar Land Rover unit in the UK, topping analysts forecasts. Shares zoomed nearly 3% to a record high of Rs 1,271 on the BSE. The company announced the results after market hours.

Tata Motors saw its total revenue increase 37% to Rs 28, 782 crore in the quarter. Tata Motors CFO C Ramakrishnan attributed the increase in earnings to strong volume growth across trucks, buses and cars, price increases and continued cost reduction efforts.

Hindaclo's Q2 - Inline with expectations

India’s largest aluminum producer Hindalco Industries posted a 26% increase in standalone net profit due to higher realisations from aluminum during the second quarter. The company’s net profit jumped to Rs434 crore in the July-September quarter as against Rs344 crore a year earlier.

Stock might witness a cool-off in today's trade.

Markets - All time highs ?

Markets are all set to conquer all time highs and might even shoot up further in the coming days. After the final hour push into the positive territory, Nifty looks strong for an upmove. Realty and Infrastructure are the two dark horse sectors on the street. Keep an eye

SBI Q2 below estimates, Bank stocks might witness pressure

Dalal Street is likely to open marginally in the negative territory on account of flattish global cues and below par Q2 numbers from the banking giant State Bank of India.

Wall Street closed flat on Monday as US Dollar rose sharply against a basket of currencies.

Officials from several countries have criticized the Fed's bond-buying program amid concerns that it will spark asset bubbles in emerging economies. Representatives in Germany, Brazil, South Africa and China have voiced objections to the plan and argued that it could lead to a surge in commodity prices.

Asian markets are trading in marginally the red on Tuesday morning.

State Bank of India disappoints

State Bank of India's Q2 net profit turned was at Rs 2,501.37 crore, up from Rs 2,490.04 crore a year earlier. The poor show was due to meeting higher provisioning norms. Both the treasury and corporate banking faired poorly.

The dismal show might hit the banking sector badly and one should wait and see how the street takes the numbers.

All time highs in question ?

With poor results from SBI, it would be a herculean task for the markets to cross the highs now. We believe only one stock should make the difference and it is none other than Reliance Industtries which is looking terrific on charts. Other stock that grabbed our attention yesterday was Unitech on the positive side.

We believe it is only a matter of time before the Markets conquer new highs. Stay invested