सेन्सेक्स (16719.83) -174.42 अंक गिरकर, नीफ़्टी (4987.70) -54.05 अंक गिरकर, बंद..

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Pre Market Commentary ..

Today, we see the market opening in the red on the back of overnight losses on Wall Street. A disappointing outlook from FedEx added to concerns over unemployment. Asian markets too are all down. Stocks fell in Europe too following Greece’s downgrade.It’s raining holidays in the coming weeks and the bourses have decided to wish investors Happy New Year by remaining closed on Jan 1. So far the plan is to usher in 2010 by starting at 9 am on Jan 4. But all this is few days away.

Trading has been anemic over the past 2-3 weeks. Globally too, stocks have struggled as the dollar has been inching up. Sovereign debt concerns have added to the pressure. Economic outlook remains murky though overall the world seems better placed. For India, the immediate worry is the soaring food prices. That rates will rise and ‘exit’ strategies will gradually be executed is a given. Expect some action from the RBI in the coming days. Given this backdrop, we would urge some caution.

Trading volume could take a hit in the next few weeks due to a few holidays.

Pre Market Intraday Call !!

Buy Polaris

Buy Cromton Greaves

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Tata Motors’ global sales soar 62% in November 2009. (ET)

Wipro has entered into a partnership for an out-tasking of testing services with Telefonica, Germany. (BL)

GAIL has requested the Government to allow levy of marketing margin on APM gas. (BL)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS


CROMPTON GREAVES
GTL
HCL TECH
WIPRO
GUJ NRE


NEGATIVE BREAKOUTS


JINDAL SAW
GMR INFRA
IB REAL ESTATE
ICICI BANK
BPCL

FIIs were net buyers in the cash segment on Thursday at Rs1.92bn

FIIs were net buyers in the cash segment on Thursday at Rs1.92bn on a provisional basis. The local funds were also net buyers of Rs1.33bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs3.59bn. FIIs were net sellers of Rs1.39bn in the cash segment on Wednesday. FIIs' net investments in Indian stocks this year have crossed $16bn.

NIFTY(5041) SUP 4941 RES 5141

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सेन्सेक्स (16894.25) -18.52 अंक गिरकर, नीफ़्टी (5041.75) -0.30 अंक गिरकर, बंद..

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KEC International wins orders worth Rs5.5bn

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Intraday Call : Buy Tata Steel at 563 SL 556 Tgt 570.

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Market Commentary ..

Today, we expect another muted start as global markets remain indecisive. The Fed has not done nothing unexpected nor has it made any surprise statements. Rates in the US will remain at record low for quite some time, though the fire-fighting steps may gradually be reversed. Sovereign debt default scare still remains with S&P now downgrading Greece.

Gurus of market have spoken about the time in the market which is important rather than timing the market. Investors sure will benefit with the extended trading hours. Come Friday, those directly and indirectly linked to the stock market will start early as trading begins at 9 am.Though economic recovery is well underway, data points are likely to be erratic. Valuations are not cheap and there is concern that liquidity may be lower next year as central banks start unwinding the monetary stimulus.

Technically, the Nifty will find support near 5000 levels. With bulls and bears in holiday mood, expect the indices to remain in a narrow range for now. Have a nice time, in the market and outside the market.

Pre Market Intraday Call !!

Buy Ster

Buy Sterling Bio

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Orchid Chemicals has sold of its generic injectable Pharma business for US$400mn to fund its debt repayments and pursue new growth opportunities. (ET)

Bharti Airtel may buy 70%v stake in Bangladesh’s Warid Telecom for US$300mn. (ET)

DLF consolidated debt to rise by Rs22bn on arm integration. (BL)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

RANBAXY
IDEA
WIPRO
BHEL
BAJAJ AUTO


NEGATIVE BREAKOUTS

JINDAL SAW
CAIRN INDIA
GLENMARK
GSPL
HUL

FIIs were net sellers in the cash segment on Wednesday at Rs3.55bn

FIIs were net sellers in the cash segment on Wednesday at Rs3.55bn on a provisional basis. The local funds were net buyers of Rs2.75bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs10.71bn. FIIs were net buyers of Rs1.14bn in the cash segment on Tuesday. FIIs' net investments in Indian stocks this year have crossed $16bn.

NIFTY(5042) SUP 4942 RES 5142

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सेन्सेक्स (16912.77) 35.61 अंक चढ्कर, नीफ़्टी (5042.05) 9.00 अंक चढ्कर, बंद..

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India planning stimulus steps for some exporters

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Bhushan Steel to start orrisa plant in Jan 2010

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Asian Market Update: Nikkei Up 0.93%, Hang Seng down 0.8% and Shanghai Index down 0.4%

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BSE extends trade timings by 10 minutes Now opening bell at 9.45

The Bombay Stock Exchange (BSE) has extended trading timings in equity and equityderivatives segments by 10 minutes. The move would be effective from this Friday.Trading in these segments will commence from 9.45 am onwards, instead of the present timing of 9.55 am onwards.Consequently, the continuous trading session in both segments will be from 9.45 a.m. to 3.30 pm on all business days. There will be no change in timings of any other session in both the segments.

Pre Market Intraday Call !!

Buy Jindal Hotel

Buy Think Soft

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Pre Market Commentary ..

Today again we expect a soft opening with US markets in the red and a flat finish in Europe. Asian markets are mixed. We don’t expect any major move (on either side) till a big influential event takes place. So, keep your eyes and ears open.What we have is Dhoni & Co. in fine touch. What we want is bulls to be in better form. After hitting the year’s high in mid-October, the market has turned turtle. Though the Nifty did make a new high recently, it has since retraced back to sub-5100 level. The broad range for the Nifty is expected to be 4900-5200 and the overall market trend will remain choppy.

The immediate event to keep track of is today’s outcome of the Fed meeting. It’s a no-brainer that the Fed will keep rates steady. What the markets are keenly awaiting is some hints on its ‘exit’ strategy. Back home, the RBI is expected to reverse its easy money policy, but the timing is uncertain. It may opt to do it earlier than its scheduled January-end meeting.

BHEL is planning to acquire Hungary-based boiler maker TGR to establish a manufacturing facility in Europe. (FE)

RIL’s efforts to buy a controlling stake LyondellBasell has got a bit complicated, as the company has submitted a new reorganisation plan to a court in the US. (ET)

M&M has forayed into the aerospace business by acquiring majority stakes in two Australian companies, Aerostaff Australia and Gippsland Aeronautics. (BS)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

BAJAJ AUTO
GTL
INFOSYS
RANBAXY
UNITED BREWERIES


NEGATIVE BREAKOUTS

SUZLON
GAIL
BIOCON
TITAN
TATA MOTORS

FIIs were net sellers in the cash segment on Tuesday at Rs61.4mn

FIIs were net sellers in the cash segment on Tuesday at Rs61.4mn on a provisional basis. The local funds were net buyers of Rs38.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs10.80bn. FIIs were net buyers of Rs1.74bn in the cash segment on Monday. FIIs' net investments in Indian stocks this year have crossed $16bn.

NIFTY (5033) SUP 4933 RES 5133

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सेन्सेक्स (16877.16) -220.39 अंक गिरकर, नीफ़्टी (5033.05) -72.65 अंक गिरकर, बंद..

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European market update: FTSE Index down 0.35%, CAC Index and DAX Index trading flat

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Infosys pays Q3 income tax of Rs400cr vs Rs150cr (yoy)
ICICI Bank pays Q3 income tax at Rs301cr vs Rs625 cr (yoy)
ACC pays Q3 income tax of Rs110cr vs Rs125cr (yoy)

Our morning call Buy Think Soft target achieved at 289.90.

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Our morning call Buy Think Soft is going strong at 287.

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POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

AMBUJA CEMENT
HPCL
SIEMENS
SAIL
CROMPTON GREAVES


NEGATIVE BREAKOUTS

GSPL
CANARA BANK
TATA STEEL
STERLITE IND

FIIs were net buyers in the cash segment on Monday at Rs622.

FIIs were net buyers in the cash segment on Monday at Rs622.7mn on a provisional basis. The local funds were net buyers of Rs1.09bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs1.18bn. FIIs were net buyers of Rs3.42bn in the cash segment on Friday. FIIs' net investments in Indian stocks this year have crossed $16bn.

Pre Market Intraday Call !!

Buy Think Soft

Buy Ashok Leyland

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Pre Market Commentary ..

Today, the same holds true for stocks right now. The bulls appear to be suffering from some fatigue following a stellar rally from March lows. Notwithstanding the euphoria surrounding the Dubai bailout and US banks repaying federal aid, the market is likely to remain choppy. The Nifty will continue to struggle to pierce 5200, at least for the time being. It may however manage to cross that barrier before the F&O expiry. In short, the consolidation phase is likely to prevail in the near term with a positive bias. Future advance will face hiccups at regular intervals as bulls lack conviction.

Stay tuned to the latest events – local as well as global. Stick to stock-centric action. The advance tax numbers will have impact on specific stocks. We see a flat to cautious start as Asian markets are subdued. Trading will swing to the beat of global cues. The Fed will start a two-day policy meeting today. Industrial output data for the US will be released later today. The UK CPI report is also due out today.

NIFTY(5105) SUP 5005 RES 5205

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सेन्सेक्स (17097.55) -21.48 अंक गिरकर, नीफ़्टी (5105.70) -11.60 अंक गिरकर, बंद..

PTC to acquire coal assets abroad. (FE)

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PNB plans to open 100,000 biometric ATMs by 2013. (BS)

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DLF is set to merge the real estate investment trust DLF Assets into itself. (FE)

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Tata Power to commission first unit of Dagachhu in 2013. (BS)

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FIIs were net sellers in the cash segment on Friday at Rs3.38bn on a provisional basis. The local funds were net sellers of Rs71.7mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs4.83bn.

Pre Market Intraday Idea

Buy IGL AT 184.90 SL 181
TARGET 203 PLUS

Buy APIL AT 574.90 SL 559.90
TARGET 607,611 PLUS


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Pre Market Commentary ..

Today, there is no solution to the lack of clear direction in the market. The fact is we will remain at the mercy of global cues and foreign money. Any domestic booster is usually intra-day in nature. Don’t press the panic button in case of any fresh bad news. Stay alert and stick to a stock centric approach. This week’s trend will hinge on what the Fed says at the end of its policy meeting on Wednesday. Till then, we expect the key indices to remain sideways. The Nifty will continue to trade in a 5000-5200 range.

There will surely be few more speed bumps ahead in some form or the other. The recovery in several parts of the world will be a ‘stop-and-go’ affair. It is taking different shapes across the globe. The crucial event to watch will be the Fed’s ‘exit’ strategy. This will then decide the fate of the dollar, whose weakness has been driving up the risk appetite.