सेन्सेक्स (17101.54) -84.14 अंक गिरकर, नीफ़्टी (5108.90) -22.80 अंक गिरकर, बंद..

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European markets update: FTSE Index down 0.3%, CAC Index down 0.4% and DAX Index down 0.4%

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Market Commentary ...

Today, we expect a soft opening as global equities are mixed. A close above the year’s high (around 5182) for a few days is needed for a further advance. Till then, the key indices will remain sideways and mostly subdued. Support may kick in at 5030-50. Further selling is not ruled out at higher levels but the same is unlikely to be too savage.Bourses are unlikely to see fireworks of the kind Brabourne Stadium witnessed on Thursday where India posted its highest single-day score in Tests. Stock markets are not for just a day’s record anyways. After a strong pull-back from last week’s selloff, the momentum appears to have dipped a little.

Every time, the bulls have tried to move towards the year’s peak, they have met with some resistance. Similarly, the market has found support after a small correction. In short, we are in a volatile consolidation phase after the astounding rally from the troughs of March. This trend is likely to prevail at least this month, with the sentiment driven mainly by global cues. The market will continue to move in a range of 4800-5200.

Pre Market Intraday Call !!

Buy Think Soft

Buy SCI

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SBI has signed a MoU with Honda Siel to provide retail financing to prospective customers. (BL)

ONGC Videsh to invest US$5.5bn in Farsi block in Iran. (DNA)

Infosys to hire 1,000 people in the US over the next 4-5 quarters, says CFO. (BL)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

YES BANK
AMBUJA CEMENT
R COM
TATA STEEL
MARUTI

NEGATIVE BREAKOUTS

HIL
JAIN IRRIGATION
ITC
ABAN OFF
EDUCOMP

FIIs were net buyers in the cash segment on Thursday at Rs3.34bn

FIIs were net buyers in the cash segment on Thursday at Rs3.34bn on a provisional basis. The local funds were net sellers of Rs1.99bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs1.06bn. FIIs' net investments in Indian stocks this year have nearly touched $16bn.

NIFTY (5131) SUP 5031 RES 5231

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सेन्सेक्स (17185.68) 15.77 अंक चढ्कर, नीफ़्टी (5131.70) 8.45 अंक चढ्कर, बंद..

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European market update: FTSE Index up 0.5%, CAC Index up 0.8%, DAX Index up 0.8%

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Pre Market Intraday Call !!

Buy Think Soft

Buy Bombay Rayon

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ABG Shipyard and Eleventh Land Developers Pvt. Ltd. (ELDPL) (a wholly owned subsidiary of ABG), announced the sale of 3.078mn shares of Great Offshore (being approximately 8.27% of current paid up shareholding of Great Offshore Ltd.) through a stock market sale. Consequent to this Transaction, the cumulative shareholding of ABG and ELDPL in Great Offshore Ltd. is Rs571 shares.

Pre Market Commentary ..

Today, Stock markets provide opportunities at all times. Last year’s crash was one of them. The current consolidation is no exception either. Today we expect a flat start due to subdued global markets. In the near-term, the key indices will continue to swing in a range, which is pegged at 4900-5200 on the Nifty. To ride out this volatility one needs to focus on one’s portfolio. Get rid of the laggards and bet on companies with good earnings visibility. As far as the global markets go, concerns about Dubai's debt troubles appear to be easing. World trade in equities continues to be driven by the US dollar’s weakness. Risky assets such as emerging market equities and currencies are being lapped up. Commodities too have benefited. Gold is hitting new highs every day.

But, the rise in risk appetite is being tempered by some degree of caution after the spectacular rally from the lows of March. From here on, incremental ‘good news’ has to be really strong for the current momentum to sustain. A big worry is on how the ‘exit’ strategies unfold.Though long-term prospects for India remain positive, a number of factors could pose a challenge. Among the key ones include an imminent hike in interest rates, spiraling inflation, a yawning fiscal deficit, anemic credit growth, bleeding exports and shrinking tax receipts.

Wipro to hire 5,000 employees in next couple of months. (ET)

DLF plans to list DLF Assets Ltd (DAL) in Singapore in June 201 to raise about US$1.2bn. (FE)

Tata Steel owned Corus is preparing for major re-branding initiative resulting into replacement of the eleven year old Corus badge with the Tata brand. (BS)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

AXIS BANK
GODREJ IND
GAIL
CIPLA
HPCL

NEGATIVE BREAKOUTS

BHEL
TECH MAH
GREAT OFFS
HUL
REL INFRA

FIIs were net buyers in the cash segment on Wednesday at Rs8.86bn

FIIs were net buyers in the cash segment on Wednesday at Rs8.86bn on a provisional basis. The local funds were net sellers of Rs2.14bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs2.51bn. FIIs were net buyers of Rs22.94bn on Tuesday. FIIs' net investments in Indian stocks this year have crossed $159bn.

NIFTY (5123) SUP 5023 RES 5223

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सेन्सेक्स (17169.91) -28.36 अंक गिरकर, नीफ़्टी (5123.25) 1.25 अंक चढ्कर, बंद..

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Our morning call Buy Kiri Dyes is going strong and target achieved at 539.90 !!!!!!

Delivery Call :

Buy Sail at 210
SL 199 Tgt 219,224.
Hold for 2 Weeks.

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Market Commentary ...

Today, we expect a steady start which might pick up if the Nifty crosses 5140. Some resistance is expected near 5200 and support will kick in at around 5000.Risk appetite seems to be alive and kicking despite a brief scare that was sparked by the Dubai debt crisis. Experts feel the crisis over the Dubai World debt default is not as serious as feared initially and will be mostly contained. For India, the big sentiment booster has come in the form of the Q2 GDP growth data. Monthly auto sales have only reinforced a growing view that the Indian economy is in a pink of health.

However, not all is hunky dory. Some concerns remain over high fiscal deficit, spiraling inflation, anemic loan growth, shrinking exports and subdued tax collections. Valuations too are not cheap. Loose monetary policy could soon be history and the fiscal stimulus too might be gradually withdrawn. Global recovery may also stall in the absence of emergency fire fighting steps.

In short, one must tread cautiously though the bias is positive.

Pre Market Intraday Call !!

Buy K S Oil

Buy Kiri Dyes

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Cipla is in talks with Pifzer and other leading companies for major supply contracts, but has denied any proposal for a stake sale. (BS)

SAIL is set to reduce prices of flat steel products sold in the spot market by up to 3% or Rs 800/tonne owing to mounting threat from low-priced imports. (ET)

Reliance Industries has stopped selling gasoline and gas oil to Iran since April. (FE)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

IDEA
AXIS BANK
MNM
LUPIN
STER

NEGATIVE BREAKOUTS

PUNJ LLYOD
TECH MAH
ABB
PATNI
MPHASIS

NIFTY (5122) SUP 5022 RES 5222

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सेन्सेक्स (17198.27) 272.05 अंक चढ्कर, नीफ़्टी (5122.00) 89.30 अंक चढ्कर, बंद..

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European markets update: FTSE Index up 1.3%, CAC Index and DAX Index up 1.6%

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Our morning call Buy Jindal Cotex at 114.90 & Tulip at 949.90 target achieved .

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Pre Market Commentary ...

Today, the bulls are enjoying the GDP growth music as India does an elephant dance. Sure, the stimulus measures are showing the desired effect. When sentiment turns bad we will revisit the deficit figures. For now the question is when will the RBI step in to suck out surplus liquidity by tightening monetary policy? We reckon it would be in January.



The country's GDP expanded by 7.9% in Q2. The growth for the first six months now stands at an impressive 7%. Upward revision of GDP growth will be the order of the day now. Services grew by over 9%. Agriculture, showed some growth but next quarter is most certain to be negative.



The opening may be just about in the green. Thereafter, the indices are expected to weaken. Profit booking could be seen in counters which ran too fast on Monday. Global cues during the day will be watched closely for direction. For now, the global signals are mixed. Asian markets are weak.

Pre Market Intraday Call !!

Buy Jindal Cotex

Buy Tulip

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M&M and British defence company BAE Systems on Monday singed an agreement to launch a joint venture company to focus on manufacturing land systems for security forces. (ET)

Essar Oil has extended its exclusive talks to acquire three European refineries of Royal Dutch Shell beyond end of November. (ET)

L&T and NPCIL tie-ups for atomic power components. (BS)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS


CESC
BHARTI AIRTEL
ACC
TATA COMM
SAIL


NEGATIVE BREAKOUTS


POWER GRID
PATEL ENG
ICICI BANK
RELIANCE POWER
ESSAR OIL

NIFTY (5032) SUP 4932 RES 5132

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सेन्सेक्स (16926.22) 294.21 अंक चढ्कर, नीफ़्टी (5032.70) 90.95 अंक चढ्कर, बंद..

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European markets update: FTSE Index up 0.2%, CAC Index up 0.3% and DAX Index up 0.6%

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Our morning call Buy Bharti Airtel target achieved at 299.90.

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Our morning call Buy Bharti Airtel is going strong at 293.

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Indian Construction Grew 6.5% In Second Quarter
India Electricity, Gas Output Grew 7.4% In Second Quarter
India Manufacturing Grew 9.2% In Second Quarter From Yr Ago
India Financing, Insurance, Real Estate Grew 7.7% In Q2
India Economy grew 7.9% in July-September Quarter

GSPL: Hold our delivery call for traget of 99 and 104 plus

Pre Market Commentary ...

Today,we expect a bounce back at start today. Some amount of domestic buying, especially in the large caps is likely after they were randomly beaten down last week. The GDP numbers expected later in the day could add to the sentiment if above expectations. There is bound to come some pain, surely as there are storms and falling rain; just believe that the one who holds the storms will bring the sun.



The bears seem to have found the perfect storm in the desert. For long they have been scouting for a reason to break the range-bound trade and the Dubai-debt issues seem to have done the trick. UAE authorities seem to be coming up with a solution; albeit temporary, and this could at least limit the collateral damage.Investors too may have pondered enough over the weekend and decide that the situation is not that bad after all for the time being. The Asian markets are staging a comeback recording decent gains.



The primary fears include that a bailout in Dubai may feed further bubbles. Beijing says it plans to continue its stimulus measures. Back home, the RBI says it is watching the situation closely. The event could delay the central bank’s exit measures for some time.

Pre Market Intraday Call !!

Buy Reliance

Buy Bharti Airtel

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TCS has said that it will recruit about 25,000 people in 2010-11. (BL)

ONGC finds traces of a new oil reserve in Gujarat which could increase the company’s total onshore oil production by about 20%. (BS)

Suzlon Energy's subsidiary REpower Systems receives an order from Saint-Laurent Énergies, Canada, for supply of 954MW of wind turbines ;deal size is estimated at about US$1bn. (BL)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS


ACC
SUZLON
CAN BANK
EIH
UNITED SPIRIT


NEGATIVE BREAKOUTS


RPOWER
BIOCON
PUNJ LLYOD
JSPL
HCC

NIFTY(4941) SUP 4841 RES 5041

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