Friday, April 15, 2011
DABUR trading strong at 104.50, HOLD for 106++
Our DABUR last week call given at 96 now
1&2nd target achieved hold for next target.
BANG ON TARGET
1&2nd target achieved hold for next target.
BANG ON TARGET
NIFTY FO CLOSED @ 5944 AS ON 13.04.2011
NIFTY FO has resistance @ 5973 to 5988 above which other resistance levels are @ 5997 to 6006. In down side support levels are @ 5913 to 5909 levels; below which other support levels are @ 5887 - 5870 levels in APRIL - 2011. I am positive for next week above 5988 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, April 13, 2011
Sell Essar oil (137.50) with s/L 139.90 tgt 133, 131
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Corporate Snippets
± NTPC and RIL will soon enter into a complex deal to ensure supply of more gas to Andhra Pradesh power projects. (BS)
± SAIL has obtained environmental clearance for the McLellan Iron Ore Mining Project, exclusively for Budhaburu lease. (BL)
± The mini-refinery of ONGC at Tatipaka in East Godavari has started producing mineral turpentine oil. (BL)
± The corporate R&D unit of BHEL in Hyderabad has developed a maintenance-free solar thermal sun tracker for solar photovoltaic modules that requires no external electro mechanical fittings. (BS)
± Sun Pharma and Merck to form a JV to sell generic drugs in Asia Pacific, Latin America, Eastern Europe, West Asia and Africa. (ET)
± Maruti Suzuki India will hire at least 2,300 people, mainly for its upcoming two new plants in Manesar, within next two years. (BS)
± Bharti Airtel would launch Apple's iPhone 4 in India in the coming months. (BS)
Buy and Hold....
Dabur (BUY, between Rs99.5-100.5, Target Rs106): Dabur on the weekly chart has signaled breakout from the inverted head and shoulder pattern above the levels of Rs101 with spurt in volumes. Such a breakout also coincided with prices moving above the 200 DMA thus corroborating new uptrend in the counter. The amplitude of Inverted H&S suggest the upside projection of Rs115 in the near term with stock considered as defensive at the time volatility in the broader markets. The volumes too have been expanding in the up tick which supports buying argument in the counter. We advise buying stock in the range of Rs99.5-100.5 with stop loss of Rs97.75 for target of Rs106.
NIFTY FO CLOSED @ 5803 AS ON 11.04.2011
NIFTY FO has resistance @ 5819 to 5830 above which other resistance levels are @ 5847 to 5858. In down side support levels are @ 5783 - 5770 levels; below which other support levels are @ 5757 - 5730 levels in APRIL-2011. I am positive for next week above 5858 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.
Market Commentary ..
There is no choice but to relax and wait for some clear trend. The indices seem to have lost their winning ways in recent times. The truncated week is only adding to the lack of interest. On Monday, sentiment was dampened to an extent after industrial growth slowed down to 3.6% in February compared with 15.1%expansion in same month last year. Poor performance by manufacturing and mining were the culprits here.
Another weak start is in store for the day. Global cues are not encouraging at all. The Hang Seng Index is down for the third day. The Nikkei is little changed. Crude oil for May delivery fell on Tuesday by 3.3% to $106.25 a barrel in New York, the lowest settlement since March 30. It has weakened further to $105.62 a barrel in electronic trading on the New York Mercantile Exchange.
US indices closed lower following a sell-off in energy stocks. Sentiment was further hurt after Japanese officials raised the threat level at the Fukushima nuclear plant to the same as the 1986 incident at Chernobyl.
The dollar rose against the British pound, but fell against the euro and the Japanese yen. Gold futures for June delivery fell $14.50 to settle at $1,453.60 an ounce.
Monday, April 11, 2011
Sector Avoid: Realty, Telecom, OMC, Aviation, Tyre
Market to open in RED &
may in under pressure
Small & mid cap stocks
may continue in lime light
INTRADAY MARKET
Nifty & Sensex Levels
| Nifty / Sensex | F & O Close Rate | R-1 | R-2 | S1 | S2 |
| NIFTY | 5842 | 5865 | 5900 | 5815 | 5785 |
| SENSEX | 19451 | 19510 | 19600 | 19372 | 19295 |
Buy Call
Buy Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| BHARTI AIRTEL | 361.25 | 365 | 370 | 357 |
| AXISABANK | 1448.65 | 1458 | 1472 | 1434 |
| L & T | 1681 | 1695 | 1709 | 1668 |
| HIND ZINC | 144.50 | 147 | 149 | 142 |
| BHEL | 2205 | 2219 | 2234 | 2190 |
NIFTY FO CLOSED @ 5854 AS ON 8.04.2011
NIFTY FO has resistance @ 5873 - 5888 above which other resistance levels are @ 5897 - 5909. In down side support levels are @ 5830 - 5817 levels; below which other support levels are @ 5808 - 5790 levels in APRIL - 2011. I am positive for next week above 5909 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.
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