Friday, April 29, 2011
Sell in May and go away?
The nature of the market is such that no seasonal strategies will work. If you followed the Sell in May adage, you may be right for few months and there are years when people came back from May holidays only to find the indices racing ‘while they were away.’
We have to live with this and this morning doesn’t look very pleasant to begin with. The indices have been week for most part this week and the Nifty came down almost a percent as monthly derivatives contracts expired.
The opening is likely to be subdued. The Nifty is hovering around its 200-DMA support levels. Expect a range-bound day as investors should adopt a defensive strategy in view of the result season and the upcoming RBI meet next week. Food inflation rose marginally to 8.76% for the week ended April 16. This has further raised expectations that RBI will raise rates by mostly a quarter percentage point on Tuesday.
INTRADAY MARKET
Nifty & Sensex Levels
| Nifty / Sensex | F & O Close Rate | R-1 | R-2 | S1 | S2 |
| NIFTY | 5784 | 5833 | 5865 | 5785 | 5758 |
| SENSEX | 19292 | 19225 | 19130 | 19409 | 19518 |
sell call,
Sell Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| HDFCBANK | 2338.05 | 2322 | 2301.00 | 2352.00 |
| TCS | 1158.45 | 1144 | 1132 | 1167 |
| DLF | 227.60 | 223 | 218 | 231 |
| HINDALCO | 174.95 | 171 | 166 | 178 |
Buy Call
Buy Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| SUNPHARMA | 449.85 | 456 | 464 | 442 |
| ONGC | 317.60 | 322 | 326 | 314.50 |
| BPCL | 634.25 | 641 | 652 | 625 |
| SESAGOA | 318.95 | 323 | 329 | 315 |
| BHARTIAIRTEL | 386.60 | 392 | 398 | 382 |
NIFTY FO CLOSED @ 5811 AS ON 28.04.2011
NIFTY FO has resistance @ 5833 to 5858 above which other resistance levels are @ 5873 to 5888. In down side support levels are @ 5793 to 5781 levels; below which other support levels are @ 5773 - 5757 levels in APRIL-2011. I am positive for next week above 5888 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
± Idea has enrolled 1 million 3G users in the first month of launch. (ET)
± Hindustan Lever has formed customer care teams that will study product demand and customer behavior at super markets. (ET)
± Monnet Ispat to raise Rs13bn from 20% stake sale in it power arm by June next year. (ET)
± Biocon is selling its stake in German drug distributor AxiCorp for a consideration of euro40mn. (ET)
± Raymond launches ‘Makers’ brand targeting the tier-II and tier-III cities. (ET)
± Welspun Infra Projects has acquired a 35% stake for Rs47bn in leading project development and contracting firm Leighton Contractors. (ET)
± RPG Life Sciences has started a division for hospital sales. (BL)
± Mphasis to open a delivery centre at Wroclaw in Poland to provide near-shore services to customers in UK and East Europe. (BL)
± Sesa Goa expects its iron-ore production to touch 23mn tons in the current financial year against 19mn tons in the previous year. (BL)
Thursday, April 28, 2011
INTRADAY MARKET
Nifty & Sensex Levels
| Nifty / Sensex | F & O Close Rate | R-1 | R-2 | S1 | S2 |
| NIFTY | 5836 | 5875 | 5909 | 5815 | 5785 |
| SENSEX | 19448 | 19560 | 19670 | 19385 | 19300 |
Buy Call
Buy Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| ASHOK LEY | 55.55 | 56.50 | 57.80 | 54.70 |
| HINDALCO | 220.30 | 223 | 226 | 217 |
| SBI | 2911 | 2930 | 2951 | 2895 |
| INFOSYSTCH | 2954 | 2972 | 2989 | 2933 |
| BHARTI AIRTEL | 384.20 | 388 | 394 | 380 |
| BPCL | 632.65 | 636 | 646 | 627 |
NIFTY FO CLOSED @ 5835 AS ON 27.04.2011
NIFTY FO has resistance @ 5858 � 5873 above which other resistance levels are @ 5881 � 5897. In down side support levels are @ 5808 - 5793 levels; below which other support levels are @ 5781 - 5770 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.
Wednesday, April 27, 2011
Sell Nifty May 2011 for Intraday
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Short HDFC May Fut in the range of Rs745-747 with stop loss of Rs760 for Target of Rs715
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NIFTY FO CLOSED @ 5875 AS ON 26.04.2011
NIFTY FO has resistance @ 5893 � 5910 above which other resistance levels are @ 5933 - 5960. In down side support levels are @ 5858 - 5830 levels; below which other support levels are @ 5817 - 5803 levels in APRIL - 2011. I am positive for next week above 5933 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.
Tata Motors @ 1261 > POSITIVE TREND @ 1253 WITH SL @ 1245 TARGET @ 1275 TO 1300!
TCS @ 1128 > NEGATIVE TREND @ 1197 WITH SL @ 1203 TARGET @ 1170 TO 1163..!!
LUPIN @ 419 > POSITIVE TREND @ 409 WITH SL @ 399 TARGET @ 426 TO 431 !!
Corporate Snippets
± Maruti Suzuki has put in place a new strategy to reduce its dependence on Japan for auto parts. It will source parts from new geographies such as Thailand and Germany. (BS)
± Sesa Goais also exploring options to build steel plants. (ET)
± JSW Steel has acquired 3.77% stake in Ispat Industries in an open offer, taking its total holding to 49.3%. (FE)
± Aditya Nath Jha, head of branding and corporate marketing at Infosys, has resigned.(BS)
± NTPC will allocate 500 mw of green energy to various states to help them meet the Renewable Energy Purchase Obligation as mandated in the National Tariff Policy. (FE)
± SBI intends to continue with the consolidation drive within the SBI Group and would initiate steps to gobble up an associate bank fully owned by it. (BL)
± Tata Motors has reduced production of all passenger vehicles, except the Nano compact, by 15-20 per cent in April. (BL)
± Thermax is setting up a greenfield plant at Kesurdi, near Shirwal, off the Pune-Ba ngalore highway for the manufacture of supercritical boilers in its 51:49 joint venture with Babcock and Wilcox. (ET)
± Power Finance Corporation will launch its share sale on May 10, marking a deal that could raise up to US$1.2bn. (ET)
Biocon
Biocon (BUY, above Rs384, Target Rs398): The stock had been consolidating in a range between the levels of Rs360-378 for last two weeks. On Tuesday, in a weak market, the stock broke past the upper-end of the trading range. The stock is witnessing strong accumulation at current levels, which suggest that it may eventually result into an upward breakout. Furthermore, the stock had been consolidating above its 200-DMA for last two weeks. A break above Rs340 could lead to a fresh directional move in the same direction. Keeping in mind the above-mentioned evidences, we recommend high risk traders to buy the stock above Rs384 with stop loss of Rs377 for target of Rs398.
Marke Commentary ..
Tuesday’s smart turnaround is likely to spill over into today’s session owing to robust global cues. US stocks rallied, spurred by strong earnings from top names such as Ford, UPS and 3M. A strong consumer confidence report added fuel to the fire. European equities too gained after UPS reported encouraging inflows from wealthy clients. Asian stocks are mostly higher, led by Japan.
We expect a positive opening for Indian indices. The focus will continue to be on corporate results. Dabur, Exide, Patni, UB and Wipro are among the leading companies declaring quarterly numbers today.
Volatility will prevail ahead of tomorrow’s F&O expiry. But, the big event to watch out for is the FOMC meeting and Ben Bernanke’s conference. Markets will pay attention to what the Fed chief says about his strategy once the QE2 ends. Meanwhile, the so-called carry trade is picking up amid expectations that the US and Japan will keep rates low. On the other hand, inflation continues to be the biggest problem.
Tuesday, April 26, 2011
European markets update: FTSE Index up 0.3%, CAC Index up 0.4% and DAX Index up 0.3%
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Monday, April 25, 2011
NIFTY FO has resistance @ 5930 � 5959 above which other
resistance levels are @ 5973 - 5981. In down side support levels
are @ 5881 - 5873 levels; below which other support levels are @
5858 - 5833 levels in APRIL - 2011. I am positive for next week above
5981 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.
resistance levels are @ 5973 - 5981. In down side support levels
are @ 5881 - 5873 levels; below which other support levels are @
5858 - 5833 levels in APRIL - 2011. I am positive for next week above
5981 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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