Friday, March 4, 2011
Buy and Hold....
(Time period: 1-3 days)
Dena Bank (BUY, above Rs100, Target Rs106): Dena Bank has staged a sharp pullback from the support of its 20-DMA this week. Last week, the stock broke out from the downward sloping trendline with higher-than-average volumes. On Thursday, the stock sustained above its downward sloping breakout trendline, suggesting strength in the counter and any move past Rs100 is likely to accentuate buying momentum in the near term. RSI too has bounced back from the support levels of 45 which favors risk reward ratio on the bullish side. We recommend high risk traders to buy the stock above Rs100 with stop loss of Rs97 for Target of Rs106.
Market Commentary ..
Looks like the Supreme Court has decided to switch on to its ‘Ultra Active’ mode even as the UPA II remains in ‘Sleep’ mode. The latest setback to the Congress-led regime has come in the form of the quashing of CVC’s appointment by the apex court.
The post-Budget momentum may continue today as well, at least at the start. We may even go into the weekend without a “red” day, provided the global cues remain supportive.
The Nifty has managed to stay above 5500, and if all goes well it might re-test 5655 shortly, which corresponds to 200 DMA.
And, banks could pace the advance after the Cabinet cleared the Banking Laws Amendment Bill that seeks to align the voting rights in proportion with the shareholding.
In global action, Asian markets are mostly up, led by the Nikkei. US stocks had their best day in three months, spurred by a steep drop in weekly jobless claims. Oil too softened just a touch on reports of a possible truce in Libya. But, it remains fairly elevated. Watch out for the all-important monthly US payroll data due out on Friday.
NIFTY FO CLOSED @ 5544 AS ON 03.03.2011
NIFTY FO has resistance @ 5571 - 5588; above which other resistance levels are @ 5597 -5610. In down side support levels are @ 5519 - 5507 levels; below which other support levels are @ 5490 - 5477 levels in MARCH - 2011. �I am positive for next week above 5588 level but be with the trend. Let the market decide further moves. As we are saying from many days Buying is suggested in falls only... and its still a better strategy in the given scenario...... One can go for buy at those levels also, but in absence of that its time to BOOK PROFIT now. This is a pessimistic outlook but that's the way we tend to be, in this market.
Corporate Snippets
± IT major Wipro has scrapped the upfront payment of 75,000 towards employment bonds for new recruits. (ET)
± Infosys, Tech Mahindra vie for Telstra's back-office business. (BL)
± Cadbury India will launch Oreo cookies, a billion dollar brand owned by its US-based parent Kraft Foods. (ET)
± The cash subsidy to fuel retailers IOC, HPCL and BPCL for losses from selling auto and cooking fuel below cost will be capped at 40% of losses. (FE)
± TCS bags legal management services contract in UK. (BL)
± PFC may raise up to US$1bn in external debt. (ET)
± PNB will buy equity stake and enter into a corporate agency tie-up with one of the 10 life insurers it has shortlisted. (ET)
± Interest rates in India have peaked or are near a peak, says SBI Chairman, O P Bhatt. (ET)
± NMDC has concluded an agreement with a consortium comprising SVAI of Austria and Nagarjuna Construction for turnkey execution of a sinter plant complex, marking the first contract among the nine packages for the three-million-tonne steel plant it is setting up at Nagarnar. (BL)
Thursday, March 3, 2011
NIFTY FO CLOSED @ 5555 AS ON 1.03.2011
NIFTY FO has resistance @ 5567 - 5573; above which other resistance levels are @ 5599 -5610. In down side support levels are @ 5517 - 5503 levels; below which other support levels are @ 5481 - 5470 levels in MARCH - 2011. I am positive for next week above 5573 level but be with the trend. Let the market decide further moves. As we are saying from many days Buying is suggested in falls only... and its still a better strategy in the given scenario...... One can go for buy at those levels also, but in absence of that its time to BOOK PROFIT now. This is a pessimistic outlook but that's the way we tend to be, in this market.
Tuesday, March 1, 2011
Sector Watch:
Markets to open
flattish to negative
flattish to negative
Profit booking
is likely on every rise
Sector Watch: Bank, OMC, Fert.
Sector Avoid: Pharma, Retail, Textiles (Branded Garments)
is likely on every rise
Sector Watch: Bank, OMC, Fert.
Sector Avoid: Pharma, Retail, Textiles (Branded Garments)
Monday, February 28, 2011
FM says ....
India Proposes 20% Export Duty On All Grades Of Iron Ore
Plan to levy 1% tax on 130 consumer items
Plan to maintain rate on central excise duty at 10%
Plan to raise MAT to 18.5% from 18%
FM says FY12 deficit at 4.6% of GDP
PLan to spoend Rs520.6bn on education
Fertilizer Industry To Be Included In Infrastructure
FM propose a 5-fold strategy to deal with black money
Plan to create infra, debt funds
FM says to spend 23% more for infra in FY12
India to set up 15 more mega food parks
FM says to Raise Farm Credit To 4.75 Tln Rupees From 3.75 Tln
FM says To Strengthen Nabards Capital Base
Fm Proposes Infusing 30 Bln Rupees Into Nabard
State refiners rise after budget plan on kerosene subsidy
FM proposes Rs1bn micronance Equity fund
FM says RBI guidelines on pvt. Bank licenses by march-end
FM proposes additional Rs60bn for banks capital
FM says FII limit on corp bonds raised to $25 bln
FM says india sets asset-sale target at Rs400 bn
FM says Indian economy expected to grow at 9% in 2011-12
FM says India economy has shown remarkable resilience
India Manufacturing Grew 5.6% In Oct-Dec Quarter
India Trade, Hotels, Transport Grew 9.4% In Oct-Dec
India Finance, Insurance Grew 11.2% In Oct-Dec Quarter
FM Says India Economy Back To Pre-Crisis Growth Trajectory
FM says food inflation remains a concern
India Economy grew 8.2% in Oct-Dec quarter
Plan to levy 1% tax on 130 consumer items
Plan to maintain rate on central excise duty at 10%
Plan to raise MAT to 18.5% from 18%
FM says FY12 deficit at 4.6% of GDP
PLan to spoend Rs520.6bn on education
Fertilizer Industry To Be Included In Infrastructure
FM propose a 5-fold strategy to deal with black money
Plan to create infra, debt funds
FM says to spend 23% more for infra in FY12
India to set up 15 more mega food parks
FM says to Raise Farm Credit To 4.75 Tln Rupees From 3.75 Tln
FM says To Strengthen Nabards Capital Base
Fm Proposes Infusing 30 Bln Rupees Into Nabard
State refiners rise after budget plan on kerosene subsidy
FM proposes Rs1bn micronance Equity fund
FM says RBI guidelines on pvt. Bank licenses by march-end
FM proposes additional Rs60bn for banks capital
FM says FII limit on corp bonds raised to $25 bln
FM says india sets asset-sale target at Rs400 bn
FM says Indian economy expected to grow at 9% in 2011-12
FM says India economy has shown remarkable resilience
India Manufacturing Grew 5.6% In Oct-Dec Quarter
India Trade, Hotels, Transport Grew 9.4% In Oct-Dec
India Finance, Insurance Grew 11.2% In Oct-Dec Quarter
FM Says India Economy Back To Pre-Crisis Growth Trajectory
FM says food inflation remains a concern
India Economy grew 8.2% in Oct-Dec quarter
Pranab Increased Security Tax on Stocks?
What is courage?
Courage is what it takes to stand up and speak , courage is also what it takes to sit down and listen, all the investor, jobbers, arbitragers, speculators and day traders are courageous , who are paying high transaction cost, have they asked question to themselves that why they are paying so high transaction cost in the form of STT (security Transaction Tax) tax means we are paying some form our income to our country but we are not paying tax on our profitable transaction but also on loss transaction, because we are courageous, our positive (non violence) courage takes us to sit down and listen whatever is enforced on us by Finance Minister. Our negative courage(violence) takes us to not to stand up and speak up.
Now let us sit down and listen to the FM in this budget and accept the STT forced on us and generate more volume towards the betterment of our country even though you are not earning. I should salute all of you for showing your courage for today`s record high volume on F&O expiry of 24 feb 2011.
What we are getting in return protection on border or common wealth game scam and 3G scam or giving luxurious life to our politician
Regards
Kalpesh Patel, CEO Northpole s&c pvt ltd.
Courage is what it takes to stand up and speak , courage is also what it takes to sit down and listen, all the investor, jobbers, arbitragers, speculators and day traders are courageous , who are paying high transaction cost, have they asked question to themselves that why they are paying so high transaction cost in the form of STT (security Transaction Tax) tax means we are paying some form our income to our country but we are not paying tax on our profitable transaction but also on loss transaction, because we are courageous, our positive (non violence) courage takes us to sit down and listen whatever is enforced on us by Finance Minister. Our negative courage(violence) takes us to not to stand up and speak up.
Now let us sit down and listen to the FM in this budget and accept the STT forced on us and generate more volume towards the betterment of our country even though you are not earning. I should salute all of you for showing your courage for today`s record high volume on F&O expiry of 24 feb 2011.
What we are getting in return protection on border or common wealth game scam and 3G scam or giving luxurious life to our politician
Regards
Kalpesh Patel, CEO Northpole s&c pvt ltd.
Our Bata is going strong at Rs360.50, trail SL to cost
"Visit Daily www.NorthPole77.com , Join profit making community...Today!"
Market Commentary ..
It is Budget day again and disappointment should be less, as expectations are pretty low. India’s growth engine will continue to roll on at the current pace next year as well, but problem areas still persist. High inflation, a yawning fiscal gap, widening current account deficit, dwindling FDI, less-than-adequate infrastructure, policy logjam and corruption are among the critical ones.
Though all of these issues need urgent attention, it would be too much to expect from the FM in light of the upcoming assembly polls. Markets would also love to hear about the definite timelines on the rollout of GST and DTC. So, keep your fingers crossed and hope for the best.
The start is likely to be a subdued one amid some weakness in Asian markets. The US and European markets advanced on Friday as oil prices softened. From the technical perspective, 5550 will be a crucial level to watch on the Nifty. A decisive close above 5550 will signal potential reversal in trend. Till then, the trend is going to be volatile with a slightly negative bias.
Watch out for important data points like auto sales, cement volumes, PMIs, trade data, ECB rate decision and US jobs report.
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