Friday, November 19, 2010
Thursday, November 18, 2010
Intraday: Sell Nifty at 5937, first target achived, HOLD for NEXT tgt..
INTRADAY, 1ST TARGET achieved,
Cummins India
Cummins India (BUY, above Rs789, Target Rs815): On Tuesday, in a declining market, the stock advanced on decent volumes from the support of its critical 50-DMA. Since July 2009, this important moving average has provided good support to the stock on every decline. It now faces a resistance at Rs830 levels and should have a minimum upside till that level. Based on above technical evidences and a positive crossover in other momentum oscillators, we recommend traders to buy the stock above Rs789 with stop loss of Rs778 for a target of Rs815.
Corporate Snippets
± M&M plans to expand its automobile business in the US after it seals the acquisition of a majority stake in the South Korean automobile major Ssangyong. (ET)
± HUL admitted that it had committed a grievous breach of protocol at its mercury thermometer factory in Kodaikanal, nine years ago. (BL)
± Canara Bank to open 105 branches and ATM’s across the country. (BS)
± HCL Tech signs US$100mn deal for smart grid solutions in power sector. (BS)
± Zydus Cadila ties up with US-based Amarillo Bioscience for marketing its dietary supplement domestically and also in Nepal. (BL)
± Tamilnad Mercantile Bank has entered into MoU with Tata Motors for commercial vehicles financing. (BL)
± NTPC has argued for removal of its Dulanga coal block in Orissa from the list of areas barred for mining by the Union environment and forests ministry under its recent ‘No Go’ classification. (BS)
± Wipro to open a new data centre in Cleveland County, North Carolina, to support its growing IT infrastructure business. (FE)
± M&M and Andhra Pradesh Government are close to finalizing a deal that will pave the way for setting up of a tractor manufacturing base at Zaheerabad. (BL)
± Bharti Airtel expects to cross the 100mn mobile subscriber mark in Africa in the next two years, from the 40mn at present. (BS)
Buy & Hold TV-18 Nov Future in range of Rs76-77
Buy & Hold TV-18
Nov Future in range of Rs76-77
for the target price of Rs82
with a stop loss placed at Rs73.
[ Lot size: 4000 Remarks:
Net maximum profit of Rs24,000
and net maximum loss of Rs12,000.]
Market Commentary ..
It probably was a welcome break for the bulls considering the battering they have taken in recent days. But for Axis Bank it was business as usual, as the private bank snapped up the equity broking and investment banking operations of Enam. It would be interesting to see how the market reacts to the swap ratio.
The start today appears to be a better one as compared to the past few sessions. We are looking at a steady start at best. Things could turn choppy later on given the anxiety over Ireland’s fiscal woes and monetary tightening in China. The US data also remains more or less subdued, justifying the Fed’s decision to launch a $600bn QE2 to shore up a sluggish economy.
Asian markets are up marginally following a selloff earlier in the week. US markets closed flat while European benchmarks edged up.
The slowdown in FII inflows is a cause for some worry. Globally, the dollar remains firm while the euro is still under pressure owing to the eurozone fiscal woes. Commodities are soft as China has announced plans to rein in spiraling prices
Tuesday, November 16, 2010
Want to EARN one LAC ???? ONE LAC, BUY DABUR future
INVEST about 3 LAC, as FO margin of DABUR,
BUY 6 FO DABUR LOT [ 6LOT x 2000 = 12000]
Buy PRICE AT 97/98
SELL TARGET AT 107.50/109.50
TOTAL PROFIT = 12000x Rs10profit=120000/-
INVESTMENT 3 LACPROFIT 1.2 LAC
NORTHPOLE INVESTMENT CALL
A SURE SHOT!
DABUR trading strong at 99.50, HOLD for 107.50 and120 ++
OUR BTST given at 97
SURE SHOT, 107.50
120++++++PLUS
SAVE THIS MESSAGE
Corporate Snippets
± Tata group plans to foray in projects logistics segment in the next one year to tap Rs200bn market in India. (FE)
± HPCL lines up Rs130bn capex to double its capacity of its Vizag refinery to 15mn tons a year by FY14. (ET)
± Indian Oil Corporation (IOC) has planned a capex of Rs25bn for its marketing and distribution expansion. (ET)
± A consortium led by L&T and Galfar Engineering & Contracting has bagged the design and development order for the New Salalah International Airport in the Sultanate of Oman for US$764mn. (BS)
± NTPC would commence work on its first overseas project in Bangladesh by May ’11. (BS)
± MERC has received EoIs from Maharashtra Electricity Distribution Company (MahaVitaran), Torrent Power, DPSC Ltd, Lanco Infrastructure, GMR Energy, Indiabulls Power, The Tata Power Company, and Enzen Global Solution over the auctioning of power distribution licence. (BS)
± Tata Motors' global sales were up 18% at 86,705 units in October against the year-ago period. (BL)
± HCL Technologies has bagged a US$100mn ‘business services' outsourcing deal in the US. (BL)
Monday, November 15, 2010
Market Commentary ..
We are staring at a sluggish start; no great reason for the same though. Investors could still be feeling jittery after Friday’s big crash that was blamed partly on bleak IIP data and partly on a steep fall in China.
In terms of major news, Telecom Minister A Raja has finally resigned in connection with the much reported impropriety in the allocation of 2G licences. October’s inflation data will be out today.
Most world markets had a pretty bad week. Whether it brings about a rebound or fresh selling is now the question. No clear answers as we have to take each day as it comes and adopt a measured approach till the fog lifts on the near term direction of the market.
Chinese market is choppy while stocks in Japan are up on better than expected GDP report. The Kospi is in the green while the rest of the regional markets are in the red. US stocks closed down on Friday as did the European indices.
Corporate Snippets
± SCI plans to add 62 vessels in the 11th Five Year Plan. (BS)
± SCI is likely to come out with its follow-on public offer by end-November or early-December. (BS)
± Agro Tech Foods sold its Rath vanaspati brand to edible oils maker Cargill India for an undisclosed amount. (ET)
± Sun TV Group promoter Kalanithi Maran plans to take over as chairman of SpiceJet. (ET)
± Nestle India ties up with the National Diabetes. (ET)
± Amara Raja Batteries plans to double production capacity with Rs1.05bn investment in the next two years. (ET)
± The coalition government in the UK confirmed the 10-year contract for administration of the state pension scheme which is valued at Rs40bn to TCS. (ET)
± Hindalco Industries’ subsidiary, Novelis plans to raise its production capacity by 20% in the next three years. (ET)
± Coal India is in talks to acquire mines from two US companies. (ET)
± PTC India to hold 40% stake in the asset management company for India Energy infrastructure Fund while London-based emerging markets asset manager Ashmore would hold the balance 60%. (BS)
± Sterlite Energy has sought relaxation in special economic zone rules to benefit its power plant in Orissa. (ET)
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