BELOW @ 4597 level, It will be in BEARISH TREND.
SELLING is suggested with SL of 4607 level
for the target @ 4407 to 4444 levels;
Regarding BULLISH TREND,
BUYING is suggested @ the level of 4607 with SL of 4597,
Target @ 4690 to 4730 levels.
BELOW @ 4597 level, It will be in BEARISH TREND.
SELLING is suggested with SL of 4607 level
for the target @ 4407 to 4444 levels;
Regarding BULLISH TREND,
BUYING is suggested @ the level of 4607 with SL of 4597,
Target @ 4690 to 4730 levels.
Buy Tata Steel
Buy Educomp
Buy STER
Buy Rel Cap
Buy Rpower
Buy
Buy Idea
Buy Hindalco
BELOW @ 4646 level, It will be in BEARISH TREND.
SELLING is suggested with SL of 4657 level
for the target @ 4607 to 4590 levels;
Regarding BULLISH TREND,
BUYING is suggested @ the level of 4657 with SL of 4646,
Target @ 4688 to 4697 levels.
FIIs were net buyers in the cash segment on Thursday at Rs7.86bn while the local institutions pumped in Rs5.58bn. In the F&O segment, the foreign funds were net sellers at Rs7.98bn. On Wednesday, FIIs were net buyers at Rs7.17bn in the cash segment. Mutual funds were net buyers at Rs9.49bn on the same day.
Today, after Thursday’s pullback, bulls are all set to rule again. We expect the Indian market to open higher and stay firm. IIP data for April will be out today. Expectations are of continued improvement. Besides, March’s dismal figure (-2.3%) may also be revised upwards. What’s more, inflows from both, foreign and local funds have been pretty strong despite a choppy week.
Global cues are encouraging, barring the surge in oil prices. Key global markets in the US and Asia have hit multi-month highs. Stocks in Europe ended up for a third successive day. The advance is largely on belief that the worst of the global recession is history. Economic reports from across the globe show that the severity of economic slump is easing. Unless we are hit by any nasty surprises, the positive trend in equity markets is likely to hold, though the speed of the rise may slow a bit.
The immediate issues confronting this rally are: rising bond yields, spike in commodity prices, a possible weak monsoon, budget disappointments, policy delays and corporate earnings missing estimates. Meanwhile, the WHO has declared swine flu a global pandemic.
Investors seem happy with the small changes in economy and great changes in the market. Looking at the choppy trades on Thursday, markets would continue to struggle for direction in the coming days. The 4,650 levels for Nifty would continue to be crucial, a break out above or below the vital mark on either side would be the trend decider. Market players would also be awaiting the release of the industrial production numbers to be released on Friday noon. The consensus forecast is for a flat IIP as against a drop of 2.3% in March.
FIIs were net buyers in the cash segment on Wednesday at Rs7.38bn while the local institutions pumped in Rs5.9bn. In the F&O segment, the foreign funds were net buyers at Rs10.67bn. On Tuesday, FIIs were net buyers at Rs9.9bn in the cash segment. Mutual funds were net buyers at Rs3.2bn on the same day.
Buy ACC
Buy HDFC
Sell DLF
Buy RIIL
Given the outstanding rally in the past two days and with the NSE Nifty shutting shop above the 4,650 levels, bulls will look to extend gains. However, will Nifty sustain above the crucial technical level has to be seen. One cannot rule out profit booking at higher levels.
BELOW @ 4567 level, It will be in BEARISH TREND.
SELLING is suggested with SL of 4573 level
for the target @ 4507 to 4488 levels;
Regarding BULLISH TREND,
BUYING is suggested @ the level of 4573 with SL of 4567,
Target @ 4597 to 4607 levels.
Buy GSPL
Parent GSPC getting ready to list : GUJARAT state energy minister “We are contemplating a IPO of GSPC . Merchant bankers are looking at IPO.”
Shares of Tech Mahindra rallied by over 25% to Rs744 after hitting an intra-day high of Rs758 and a low of Rs575 and recorded volumes of over 2.4mn shares on BSE.
Satyam shares were locked at 10% upper circuit at Rs66.80 after hitting an intra-day high of Rs66.80 and a low of Rs58.20 and recorded volumes of over 10mn shares on BSE.
FIIs were net sellers in the cash segment on Tuesday at Rs9.55bn while the local institutions pulled out Rs1.43bn. In the F&O segment, the foreign funds were net sellers at Rs3.41bn. On Monday, FIIs were net buyers at Rs2.95bn in the cash segment. Mutual funds were net sellers at Rs409mn on the same day.
Shares of Tech Mahindra rallied by over 25% to Rs744 after hitting an intra-day high of Rs758 and a low of Rs575 and recorded volumes of over 2.4mn shares on BSE.
Satyam Computer disclosed standalone unaudited financial results for the quarter ended December 31, 2008. The company’s Profit after tax for the October-December quarter stood at Rs1.81bn while the total income for the period was Rs22.06bn.
Operating profit (excluding other income) for the third quarter of FY09 is Rs3.64bn, while the operating profit margin is 15.87%. The PBIDT for the quarter stood at Rs2.76bn while the PBIDT margin was 12.51%.
The financial disclosure is part of the information Satyam had provided to select bidders, including Venturbay Consultants Pvt Ltd (the acquirer) and Tech Mahindra (the Person Acting in Concert), in connection with the bid process followed by the company to select a strategic investor. Satyam had provided access to certain non- public information to facilitate price recovery as the publicly available information about the company.
Satyam shares were locked at 10% upper circuit at Rs66.80 after hitting an intra-day high of Rs66.80 and a low of Rs58.20 and recorded volumes of over 10mn shares on BSE.
Kalpataru Power may come under pressure as the Maharashtra government may cancel a contract awarded to the company due to alleged shoddy work. Godfrey Phillips may soon launch Marlboro in India.
FIIs were net sellers in the cash segment on Tuesday at Rs9.55bn while the local institutions pulled out Rs1.43bn. In the F&O segment, the foreign funds were net sellers at Rs3.41bn. On Monday, FIIs were net buyers at Rs2.95bn in the cash segment. Mutual funds were net sellers at Rs409mn on the same day.
Today, one may be used to going to sleep after hearing a story. But the bulls seemed to have woken up after a shot nap on Monday with the PM confidently starting his story titled ‘India can get back to 9% GDP rate’. One story leads to another and the bulls are likely to hold sway on the bourses today as well, given the firm trend across Asian markets. US stocks ended mixed, with only the Nasdaq managing a small gain. European stock benchmarks also struggled for direction.
Back home, the broader market has witnessed some long-overdue easing in the past couple of days. Shares of several obscure companies with dodgy background had soared to astronomical levels. This is true not just for the Indian market but also overseas ones, sparking some concern about the sudden spurt in irrational exuberance.
After staging a thumping return on the bourses, the bulls will look to build don to their upswing provided the global markets support. However, one must not forget that most of the anticipated recovery has already been discounted; this reduces the scope for a huge further rally though the bias remains positive. Technically speaking, the Nifty could face crucial resistance at 4620-50 levels. Whereas, on the lower side, Nifty could get support at around 4375-4365 levels.
SEBI cleared the open offer for Satyam Computer Services by Tech Mahindra.The regulatory body asked Tech Mahindra to share with the company’s stakeholders the information Satyam had provided to the bidders. The open offer commences on June 12 and closes on July 1, 2009.
Just Pay Rs5500 for 6 Months
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GMR Infra, Power Finance Corp.
and Sundram Fasteners will announce
their results today.
Shares of Satyam Computer surged by over 7% to
Rs67 after hitting an intra-day high of Rs68 and a low of
Rs64 and recorded volumes of over 40mn shares on BSE.

After hitting the 15k, markets would enter into a consolidation phase which is seen in the past couple of trading sessions. While stocks may remain firm in the near term, one must stay guarded given the euphoric rally.
Buy on decline BEML
Buy ITC
Buy Balrampur Chini
Shares of BPCL erased early gains and slipped by 1.7% to Rs463. Reports stated that the company is open to Oman Oil hiking its stake in Bina refinery. The scrip touched an intra-day high of Rs492 and a low of Rs451 and recorded volumes of over 0.4mn shares on BSE.
Shares of Reliance Power erased early gains and declined by 3% to s178. According to reports twelve financial institutions sanctioned Rs16bn to Reliance Power to part-finance the first phase of a 600MW Group aptive Power Project (GCPP) at Butibori in Maharashtra. The scrip touched an intra-day high of Rs191 and a low of Rs175 and recorded volumes of over 5.8mn shares on BSE.
Shares of Cairn India declined by 5% to Rs245 after reports stated that tax issues may delay the company’s crude oil output from Barmer in Rajasthan. The scrip touched an intra-day high of Rs265 and a low of Rs243 and recorded volumes of over 1.9mn shares on BSE.
BELOW @ 4607 level, It will be in
BEARISH TREND. SELLING is suggested
with SL of 4617 level
for the target @ 4545 to 4507 levels;
Regarding
BULLISH TREND,
BUYING is suggested
@ the level of 4617 with SL of 4607,
Target @ 4646 to 4670 levels
Shares of Network 18 surged by over 3.5% to Rs160. The company announced that it would raise Rs1.2bn through preferential allotment of shares to Asian private equity firm SAIF Partners, stated reports. The scrip touched an intra-day high of Rs166.8 and a low of Rs145 and recorded volumes of over 0.3mn shares on BSE
Shares of GVK Power gained by 2% to Rs48 following the company’s announcement that it is planning to raise Rs25bn via the QIP route. The scrip touched an intra-day high of Rs50.4 and a low of Rs47 and recorded volumes of over 20.2mn shares on BSE.