Friday, March 18, 2011
INTRADAY MARKET
Markets to open in GREEN
&
Likely to bounce back
Keep Stocks Specific Approach
Mid-Small Cap stocks may in limelight
Nifty & Sensex Levels
| Nifty / Sensex | F & O Close Rate | R-1 | R-2 | S1 | S2 |
| NIFTY | 5479 | 5514 | 5568 | 5441 | 5401 |
| SENSEX | 18149 | 18340 | 18502 | 18040 | 17880 |
Buy Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| CAIRN | 340 | 353 | 357 | 542 |
| ORCHIDCHEM | 290.75 | 296 | 301 | 286 |
| RANBAXY | 468 | 477 | 486 | 460 |
| RELINFRA | 655.9 | 670 | 685 | 638 |
| KOTAKBANK | 430 | 436 | 443 | 421 |
| RCOM | 106.9 | 108.9 | 112 | 103.7 |
NIFTY FO CLOSED @ 5466 AS ON 17.03.2011
NIFTY FO has resistance @ 5488 - 5509; above which other resistance levels are @ 5517 -5530. In down side support levels are @ 5447 - 5430 levels; below which other support levels are @ 5419 - 5409 levels in MARCH - 2011.
�I am positive for next week above 5530 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.
Thursday, March 17, 2011
NIFTY FO CLOSED @ 5529 AS ON 16.03.2011
NIFTY FO has resistance @ 5555 to 5573
above which other resistance levels are @ 5588 - 5610.
In down side support levels are @ 5509 - 5497
levels; below which other support levels are @ 5481 - 5471
levels in MARCH - 2011. I am positive for next week above 5610 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.
Wednesday, March 16, 2011
Market Commentary ..
Although the nuclear cloud still looms large over Japan there has been some relief with radiation levels dropping. The IAEA says the situation is not alarming. A UN weather agency adds that winds are blowing radioactive material towards the ocean. For the time being, stocks in Japan and other Asian markets have bounced back from a two-day rout. US stocks too closed off session lows after the Fed upgraded its economic assessment. European markets ended sharply lower.
A higher start for India and a relatively calm session appears in store; perhaps a positive finish, provided the overseas markets don’t experience any fresh turbulence. Yet, stay cautious and don’t tell get brave as yet; overall things still remain fragile and volatile.
Meanwhile, crude oil has cooled off even as the turmoil in the Middle-East has deepened with Bahrain declaring a state of emergency. In Libya, Gaddafi forces are in control.
Back home, advance tax numbers appear fine though not spectacular. Cabinet has cleared the GST Bill and the RBI is most likely to hike rates by 25 bps.
NIFTY FO has resistance @ 5488 to 5497
above which other resistance levels are @
above which other resistance levels are @
5508 - 5517. In down side support levels are @
5447 - 5433 levels; below which other
support levels are @
support levels are @
5413 - 5390 levels in MARCH - 2011. I am positive for
next week above 5517 level
next week above 5517 level
but be with the trend. Let the market decide further moves.
As we are saying from many days
As we are saying from many days
Buying is suggested in falls only...
and its still a better strategy in the given scenario......
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.
that's the way we tend to be, in this market.
Corporate Snippets
± BHEL gets US certification for Trichy nuclear plant. (FE)
± BHEL said its board has deferred a decision on the plan to establish a non-banking finance company. (ET)
± SAIL said it will file the RHP in May for its forthcoming FPO, which is expected to hit the market in the first quarter of the next fiscal. (ET)
± Wipro Consumer Care & Lighting, FMCG division of Wipro, has dragged V3 Engineers (P) to court for infringement of their registered designs. (FE)
± Bharti Airtel has indicated that it will move the appellate telecom tribunal if any telecom operator refuses to pay it SMS termination charges. (FE)
± Mahindra Satyam has bagged a multi-million dollar, multi-year contract from Aspire Zone, Qatar. (ET)
± Suzlon Energy’s promoter holding has reduced to 54.8% after two promoter group entities together sold around 2.3% of the paid-up capital though share market transactions. (ET)
± Adani Power had proposed to set up a 1200-Mw power plant in Sarguja district, about 350 Km north of Chhattisgarh capital. (BS)
Tuesday, March 15, 2011
sell..................sell
Renuka Sugars (SELL, below Rs70, Target Rs63): On the daily chart, Renuka Sugars is trading near the triangle resistance line, which suggest that the likelihood of further upside over the short-term has diminished. For now, the risk/return of establishing long positions is less than ideal. Renuka Sugars has thrice run into the falling resistance line of the Triangle formation and fallen back, and yesterday’s session was a fourth attempt to close above the resistance line. Moreover, appearance of falling tops signifies the bulls inability to form higher highs. Based on above mentioned technical evidences, we recommend traders to short Renuka Sugars March Futures below Rs70 with stop loss of Rs73 for target of Rs63.
Market Commentary ..
The worse fears of a major nuclear catastrophe in Japan seem to be coming true following a new explosion which has struck Japan’s embattled Fukushima nuclear power plant. Japanese prime minister has confirmed high risk radiation leak from the Fukushima plant and has urged people to stay calm.
We are set for a gap-down start in India. European and US stock futures have also tumbled. Markets around the world are bracing for another jittery trading day. Japan's Nikkei ended morning trade down 6.5%, falling below 9,000. Other Asian markets, which had been down marginally, have seen accelerated losses.
How the global markets cope with the latest bad news from Japan remains to be seen. Indian markets will be at the mercy of developments in Japan and trend in other overseas markets. The situation appears to be highly volatile. Long term investors can look at blue-chip companies in small quantities.
Brace for some panic selling early on even as Japan struggles against the nuclear meltdown. Hopefully, there will be some improvement in the global sentiment as the day wears on.
NIFTY FO CLOSED @ 5555 AS ON 14.03.2011
NIFTY FO has resistance @ 5573 - 5588; above which other resistance levels are @ 5597 -5610. In down side support levels are @ 5517 - 5503 levels; below which other support levels are @ 5497 - 5487 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
± Maruti Suzuki has inked a MoU with professional engineering society, Society of Automotive Engineers, to promote and help young automobile engineers in conceiving, designing and fabricating Formula-1 style sports cars. (ET)
± ONGC has made a significant gas discovery in Tripura but did not give reserves the latest find may contain. (BS)
± ONGC Videsh Ltd, the overseas arm of ONGC, has lost bid to buy US energy major Exxon Mobil's 25% stake in deep-sea oil block in Angola. (ET)
± SAIL is continuing a joint feasibility study with Japan's Kobe Steel for a steel plant and a 1,000 megawatt gas-based power plant in north India. (ET)
± SAIL has started the process of developing Chiria reserves in Jharkhand and also appointed a global consultant to prepare detailed project execution report. (BS)
± SEBI has not yet cleared Vedanta group's open offer for Cairn India, a mandatory requirement for conclusion of London-based mining group's US$9.6 billion acquisition to foray into oil sector. (ET)
± Educomp said its ICT division 'Edureach' has bagged an order worth Rs680mn from Maharashtra government for implementing its solutions. (FE)
± Religare Enterprises plans to raise up to Rs25bn for expansion, including investments in insurance business besides acquisitions. (ET)
Monday, March 14, 2011
Market Commentary ..
Japan has been rattled by a natural calamity of monumental proportion. Expectedly, Japanese shares have taken a severe beating despite the BOJ injecting $86bn to stabilize markets. After the double whammy of quake and Tsunami, Japan is now staring at a potential nuclear disaster.
But, other Asian markets have managed to avert a steep fall as did the US markets. Oil prices have softened, with Nymex futures below $100 a barrel. Brent is still hovering around $112.
Meanwhile, the political turmoil in the Middle-East continues amid a call by the Arab League for a no-fly zone over Libya and Yemen.
We expect a nervous start but no major cuts are in the offing. Apart from the offshore cues, markets will focus on the February inflation data. It is likely to slip below 8%. The RBI will meet on March 17. Before that the Fed will take up a review on Tusday.
The market will continue to be rangebound; the key indices are still trading below 200-DMA. Only a breakout above 5650 will bring some semblance of order.
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