Monday, December 20, 2010
सेन्सेक्स (19888.88) +24.03 अंक चढ्कर, नीफ़्टी (5947.05) -1.70 अंक गिरकर, बंद.
Fantastic performance of our today's recommendation . . .
our friday call ................................bang bang ...bang..
Buy ICICI bank (1105.75) with s/L Rs 1100 target Rs 1115, 1120
Buy Tata motors (1347) with s/L Rs 1240 target Rs 1355, 1365
Buy SAIL (188.25) s/L 187 target 190, 191
Buy Navneet (60.75) with s/L 59 tgt 62, 63
Buy Hero Honda (1681.70) with s/L 1675 tgt 1700
Buy SAIL (188.25) s/L 187 target 190, 191
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± Videocon plans to sell stake in energy business. (ET)
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± Food inflation rose for the fourth week to 9.46% in the week ended December 4. (ET)
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Hold / Buy on dips
Cipla (BUY, above Rs360, Target Rs373): Cipla on the daily after being breakout from long term inverted head and shoulder pattern has been consolidating in a minor ‘symmetrical triangle’ for more than a week. The volumes have been shrinking as prices move towards the apex of the pattern. However as triangles are considered as a continuation pattern, the existing trend is likely to get continued after the breakout, which in this case remains up. The stock has also managed to close above its 10-DMA on Thursday’s trading session which is likely to ignite positive momentum in the near term. We advise buying the stock above Rs360 with stop loss of Rs353.
Market Commentary ..
With hardly any effort from the bulls to shore up sentiment, today’s start is likely to be flat to steady. Things could get better later on provided the external situation improves.
The eurozone debt issues coupled with the geo-political tension on the Korean peninsula could cloud the local sentiment. FIIs have taken some money off the table and may remain on the sidelines for a while.
It has been rather volatile of late as far as the Indian market is concerned and the trend might not change much for the remainder of December. While the Indian market has struggled post Diwali, the overseas markets seem to have held on well. Wall Street is currently at a two-year high. Even the European markets have gained this month, notwithstanding the sovereign debt problems. The much-dreaded rate hike from China hasn’t materialised either. Back home, the RBI has taken the much expected pause in rate tightening while announcing measures to ease the cash crunch. Advance tax numbers have raised hope of a strong Q3. Inflation seems to have softened but still remains a threat. The EGoM this week on diesel and LPG prices will be an important event to watch out for.
Corporate Snippets
± Tata Steel is in negotiations to dispose off its South African plant and assets to raise upwards of US$150mn in cash. (ET)
± ONGC approves stock split and a bonus share issue. (BS)
± NMDC’s proposed JV with Russia’s Severstal will give the latter direct access to the Indian steel market while also diversifying the local mining company into steelmaking to boost revenues. (ET)
± TCS bagged an Rs850mn three-year deal for implementing smart card-based Financial Inclusion Solution for Indian Bank. (ET)
± UK’s drug regulator asks Ranbaxy to recall three batches of Pravastatin, its anti-cholesterol tablets, on failure to update safety warnings in its information leaflets. (BS)
± Coal India has put in a bid to buy US-based Sydney complex, an arm of Massey Energy, for about US$1bn. (ET)
± Tata Steel is contemplating the possibility of bidding for Ispat Industries. (ET)
± Fitch says the asset quality of SBI remains an area of concern due to its high non-performing loans. (ET)
± MoEF has accused Adani Group’s Mundra Port and Special Economic Zone of destruction of mangroves in Gujarat. (ET)
± ONGC Videsh hopes to sign an agreement to take a stake in the Trebs and Titov in the Arctic. (ET)
Thursday, December 16, 2010
BUY ONCG, at 1318 ----------------bonus 1:1 + dividend + stock split
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DUE TO TRADING HOLIDAY TOMORROW (FRIDAY) ,BUYING/ SELLING might be seen at EOD.
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Book Profit in BTST TATA STEEL Dec Futs given yesterday
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Book Profit in Long ICICI Dec Futs given
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Sell DLF (278.15) with s/L 282 tgt 270, 268
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Punjab & Sind Bank IPO 3rd Day Subscribed 29.77 (average)
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Corporate Snippets
± Bhushan Steel will purchase coal from Boikarabelo mine of Australia based coal supplier Resource Generation for 20 years. (BL)
± Sterlite Industries & Hindalco are seeking a 76% increase in treatment and refining fees of copper.(FE)
± Tata Motors has announced a special finance scheme for its small car, Nano.(BS)
± Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines in the island-nation.(BL)
± Vedanta Resources Plc plans to use proceeds from the IPO of its Zambian copper business to part fund its US$9.6bn acquisition of Cairn India.(BS)
± Lanco Infra to buy Australia based Griffin Coal mining company & Carpenter Mine Management for US$750mn.(ET)
± SAIL follow on public offer is likely to hit market in mid-january 2011.(ET)
± The environment ministry has given Jindal Steel 15 more days to file a reply to its show-cause notice.(ET)
± Ashok Leyland to start a vehicle assembly plant in UAE. (BL)
Morning Call;
Buy Reliance Capital Dec Future in range of Rs640-643 for the target price of Rs660 with a stop loss placed at Rs630.
Lot size: 500 Remarks: Net maximum profit of Rs10,000 and net maximum loss of Rs5,000.
Market Commentary ..
The weather may be getting colder but the political scene remains heated in the wake of the 2G spectrum scam. The CBI continues its raid-spree and reports point to some consternation in the Congress-DMK alliance. The winter session of parliament has been a washout. One has to see what fate now awaits the crucial Budget session.
We see another tepid start on the back of mixed global cues. On Wall Street, the S&P 500 index's six-session winning streak came to an end. The dollar and the Treasury yields gained. European markets fell after Moody’s warned of a possible downgrade of Spain. Asian markets are rather listless.
The important event today will be the RBI’s mid-quarter review. The central bank is widely expected to keep policy rates steady as inflation has moderated. But, it could announce steps to ease the tight liquidity. In summary, the market is likely to remain choppy and rangebound.
Stick to a stock centric and guarded approach for the short-term.
Wednesday, December 15, 2010
Corporate Snippets
± Reliance Power will finalise loans of Rs50bn with Chinese banks for its 4,000 mw Sasan power project during the visit of the country’s Premier Wen Jiabao on Wednesday. (ET)
± The board of Power Grid Corporation has approved investing Rs55.4bn on five projects across the country. (BL)
± NCC Infra, a wholly-owned subsidiary of Nagarjuna Construction, is planning to rope in foreign partners to carry out large road projects worth over Rs100bn this financial year. (ET)
± Consolidated Construction Consortium has emerged the lowest bidder for constructing the St Thomas Mount Station for the Chennai Metro Rail project. (BL)
± Punjab National Bank has announced the completion of acquisition of 63.64% stake in JSC Dana Bank of Kazakhstan. (BL)
± British Telecom on Tuesday completed the sale of 5.5% stake in Tech Mahindra for Rs4.5bn. (ET)
± The environment ministry refused to lift its “stop-work” order on Lavasa Hill City project. (FE)
± Eveready Industries has increased the prices of some of its products by up to 9% due to high input cost. (ET)
± Bajaj Hindusthan signed a MoU with the state government for setting up a 1,980-Mw thermal power plant at Bargarh in Chitrakoot district. (BS)
Tuesday, December 14, 2010
Our Morning call; TATA STEEL 649, upby 2.5%
TATA STEEL
BANG ON TARGET.........................
ALL FO CLIENT MINTS MONEY!!
BANG ON TARGET.........................
ALL FO CLIENT MINTS MONEY!!
Buy Nifty Dec 6000 CE at Rs70-72 with a Sl of 59,for a Target of 90.
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Our Gold target achieved in SBI given on Friday
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Derivative strategies
Reliance Capital Dec Future in range of Rs666-668 for the target price of Rs680 with a stop loss placed at Rs659.Lot size: 500,Remarks: Net maximum profit of Rs7,000 and net maximum loss of Rs3,50
Corporate Snippets
± Sun Pharma is looking at acquire a US based company valued at US$300mn. (ET)
± Ashok Leyland has bagged an order for 600 vehicles worth Rs1.25bn from Hubli-based VRL Logistics. (BL)
± JSW Steel will issue global depository receipts (GDR) worth Rs4.6bn to Japanese steel major JFE Steel Corporation. (BL)
± The Tamil Nadu Electricity Board has paid the first instalment of Rs1bn to GMR Infrastructure as part of the Rs4.8bn settlement relating to a power purchase agreement. (BL)
± Everonn Education Ltd has transferred more than 3.9mn shares to SKIL Infrastructure Ltd to raise ~Rs2bn. (BS)
± The Supreme Court adjourned hearing of a special leave petition against the Madras High Court order to close down the Sterlite’s copper smelting plant in Tuticorin, Tamil Nadu, on alleged environment pollution to January. (BS)
± Hindalco will receive a dividend (return of capital) of US$1.7bn from its Canadian subsidiary Novelis Inc which recently announced plans to raise US$4bn through debt. (BL)
± Rcom become the first telecom operator to launch third-generation (3G) services in the metro cities of Delhi, Mumbai and Kolkata. (BS)
± Steel Strips Wheels (SSWL) issued and allotted 0.377mn equity shares of Rs10 each to South Korean company GS Global Corp. (BL)
± GlaxoSmithKline has agreed to buy protein drinks firm Maxinutrition for US$256mn from its private-equity owners to complement its Lucozade sports drinks franchise. (ET)
Monday, December 13, 2010
Book Profit today morning FO call...........SELL BANKNIFTY
Sell GIVEN ON
BANKNIFTY DEC FUT AT 11494
NOW TRADING AT 11325
BANG ON TARGET
BANKNIFTY DEC FUT AT 11494
NOW TRADING AT 11325
BANG ON TARGET
European market update: FTSE index up 0.3%, DAX index up 0.4%, CAC index up 0.5%
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We Re-initiate Long DLF Dec Futs at Rs286 with SL of Rs281 for a target of Rs296
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Book Profit today morning FO call...........
Target Achieved in Long Federal Bank Dec Fut
given today morning to paid clients
given today morning to paid clients
Sector Watch: Cement, Banking, Pharma & Oil Marketing Co.
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Market Commentary ..
The heat was on the bulls last week till the robust IIP numbers came to the rescue. Since then worries seem to have cooled down. In fact, the otherwise warm cities like Mumbai are beginning to feel the chill.
The start today to a truncated trading week is likely to be a positive one. Most Asian markets are trading up. Even the Chinese market has brushed aside concerns about a possible rate hike after inflation surged to a two-year high.
And talking of interest rates, the market will closely follow the policy meetings of the RBI (on Dec 16) and the US Federal Reserve (late tomorrow). Also, the latest monthly inflation figures (Dec 14) will be closely tracked.
While the market could well rebound after last week’s carnage, one should remain on guard, as FIIs have been net sellers in the past few sessions. Stick to Large Caps and “quality” mid-caps and avoid “dodgy” counters even if prices seem attractive. Complacency is the last thing one needs in an uncertain market. Wait for the market to stabilise and stay up for a few sessions before taking a decisive call.
BUY between Rs443-447, Target Rs470
Wipro (BUY between Rs443-447, Target Rs470): Wipro Ltd on the daily chart has signaled a breakout from inverted head and shoulder pattern on Friday trading session with neckline persisting at Rs442 and spurt in volumes. With MACD about to cross above the reference line and RSI rallying with ease, the momentum in the counter remains extremely strong. However it has been observed in the past that after a breakout, an attempt is retest the neckline, which in this case stands at R443. Expansion in volumes at the time of price increase corroborate uptrend in the counter. We advise buying stock in the range of Rs443-447 with stop loss of Rs437 for target of Rs467.
Corporate Snippets
± NTPC to soon approach the government for reconsideration of the decision to scrap the power producer's 600MW Loharinag Pala hydro-power project in Uttarakhand. (BS)
± Hindalco’s US subsidiary, Novelis plans to refinance its debt by raising US$4bn. (BS)
± Nuclear Power Corporation is in talks with Coal India on plans to enter the atomic power sector through a joint venture. (BS)
± HDFC Bank hikes deposit and lending rates by up to 75 basis points. (ET)
± Bank of Baroda hikes deposit rates by 25-75 basis points across various maturities. (BL)
± Reliance Infrastructure to have eight toll roads by March that will generate revenues of Rs10bn in fiscal 2012. (BL)
± ITC to resume cigarette manufacturing only after receiving a `formal notification' from the Government on the pictorial warnings that need to be used on such products. (BL)
± ONGC expects to ship the first 363 MW turbine built by General Electric for the proposed 726 MW (2x363 MW) gas-based ONGC Tripura Power Company by February. (BL)
± BHEL is close to wrapping up a JV agreement with Japan's Toshiba Corporation for manufacturing high-end transmission and distribution equipment. (BL)
Friday, December 10, 2010
Indias IIP for the month of Oct at 10.8%
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Reitrate Buy & hold ITC Ltd at Rs168.5 with stoploss of Rs 165 for Target Rs176
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Buy and Hold....
Buy ITC Ltd (Buy above Rs169.5, Target Rs178.5): ITC Ltd has been holding the support of Rs165 quiet well despite weakness in broader markets and managed to close in the green with spurt in volumes. On the upside immediate resistance is seen at levels of Rs169 above which a breakout from the triangle will be confirmed, which should take stock price towards Rs180.Adding to it being a defensive, it provides better diversification and better risk reward ratio at times of highest volatility in the markets. We advocate buying stock above Rs169.5 with stoploss of Rs165 for Target of Rs178.5.
Corporate Snippets
± Dabur launches hair oil in Nepal. (BL)
± Jindal Power is likely to launch a 70bn IPO by March 2011. (ET)
± Rallis India, a subsidiary of Tata Chemicals, has acquired a majority stake in Metahelix Life Sciences Ltd. (BL)
± Corporation Bank has increased the rate of interest on term deposits for six months to less than nine months. (BL)
± Central Bank has upped interest rates on fixed deposits by up to 175 bps on various maturities. (BL)
± Bata India bets on larger stores to give it a leg up. (BL)
± NMDC, Severstal to set up steel plant in Karnataka. (BS)
Thursday, December 9, 2010
Wednesday, December 8, 2010
Morning Call: Intraday Call Sell Nifty target achieved at 5007
BANG ON TARGET
BOOK PROFIT
DON\T REMAIN SHORT
BOOK PROFIT
DON\T REMAIN SHORT
STBT: TATA STEEL Dec Fut at 628.10
OUR YESTERDAY call Sell tomorrow buy today
TATA STEEL Dec Fut BOOK PROFIT at 628.10
CALL CLOSE,
TATA STEEL Dec Fut BOOK PROFIT at 628.10
CALL CLOSE,
Corporate Snippets
± Kotak Mahindra Bank raised its base rate and benchmark prime lending rate by 25 basis points with immediate effect. (BL)
± Religare Enterprises is close to buying 85% of the Ajay Piramal Group-promoted real estate fund Indiareit Fund Advisors, valuing the entire fund at around Rs2.5bn. (ET)
± Jet Airways and Air India, India’s two large carriers, are leasing 35 Airbus aircraft in a deal valued at US$5bn. (ET)
± United Phosphorus has firmed up plans to launch a clutch of new branded hybrid vegetable seeds, ranging from tomatoes to green peas, next year. (BL)
± CARE has reaffirmed its ‘AAA' rating of LIC Housing Finance's debt instruments. (BL)
± CESC plans to have 500 MW hydroelectric generation capacities — through greenfield ventures or acquisitions — in the North-East and North India in the next six years. (BL)
± Welspun Corporation has bagged contracts worth Rs16.7bn from international markets. (BS)
Tuesday, December 7, 2010
Intraday: Sell Nifty at 6007.90, first target achived, HOLD for NEXT tgt..
Nifty Dec Fut 5964...........book profit
bang on target................
bang on target................
Buy and Hold.... till RAIL BUDGET, buy on EVERY DIPS!!
Buy Titagarh Wagon
BUY Kalindee RAIL
Buy Kernex
Buy BEML
Buy and Hold.... till RAIL BUDGET,
buy on EVERY DIPS!!
BankNifty at 11775, weak....
± SBI has raised its deposit rates by up to 150 bps across various maturities, a move that will provide better returns to people with fixed deposits in the bank. (ET)
Reliance BOOK intraday profit at 1040
OUR BTST & MORNING INTRADAY
RELIANCE AT 1039.50
BANG ON TARGET
RELIANCE AT 1039.50
BANG ON TARGET
Market Commentary ..
Many market players appear to be taking it easy as the year draws to a close. As a result, the trend for the remainder of December is likely to be largely lackluster. But, there could be a minor-year-end “Santa Clause Rally”, provided the overseas markets are supportive. For now though we seem to have hit a speed breaker.
The Nifty failed to sustain beyond 50 DMA of 6066. It is likely to consolidate in the coming days with near-term support likely in the zone of 5900-5950. The upside appears capped with resistance likely at 6050-6100 in the near term.
October IIP and the mid-quarter RBI review are the big events to watch out for in the next few days. Globally, Eurozone debt woes will continue to unsettle investors.
Today’s start is expected to be flat to slightly negative on the back of lackluster global markets. The way the Indian market turned negative on Monday will only add to the anxiety. FIIs were net sellers and so were the domestic funds. Stick to a stock centric approach.
Buy and Hold....
Buy Hindalco Ltd Above Rs221 Target Rs 231.5: Hindalco Ltd continues to remain in steady uptrend with counter regaining its control over the short term moving average of 10 & 20 DMA with increase in volume activity. A white candle engulfing a bearish candle in yesterdays trading session can be conceived as positive development in the counter with levels of Rs216 acting as strong support from hereon. A positive crossover can also be witnessed in daily RSI and long term chart depicts breakout from inverted head and shoulder bottom whose target is yet to be met. We advise buying stock above Rs221 with stop loss of Rs216 for Target of Rs231.5
Corporate Snippets
± Suzlon Energy to merge its infrastructure and tower business divisions with itself. (ET)
± Coal India Ltd (CIL) has officially expressed interest in Kenya's Mui Basin. (BS)
± ONGC Videsh Ltd (OVL) will sign a formal agreement for taking a 25% stake in Kazakhstan’s Satpayev oilfield by the end of February 2011. (BS)
± Religare Enterprises is close to buying 85% of the Ajay Piramal Group promoted real estate fund Indiareit Fund Advisors, valuing the entire fund at around Rs2.5bn. (ET)
± Areva is likely to sign a framework agreement with NPCIL to build the first two of the six planned nuclear power reactors in Maharashtra. (ET)
± Glenmark along with its US-based partner has received US health regulator's nod to manufacture and market two oxycodone products, used for treating moderate to severe pain, in the American market. (ET)
± BPCL will file an execution petition against Kingfisher Airlines (KFA) to claim jet fuel dues. (BS)
± Opto Circuits has completed the acquisition of US-based Cardiac Science Corporation. (FE)
± Glenmark's US-based generics subsidiary and Lehigh Valley Technologies (LVT) have jointly announced that the US regulator has approved two New Drug Applications (NDAs) for a line of controlled-substance products containing Oxycodone Hydrochloride (Oxycodone). (BL)
± SBI has raised its deposit rates by up to 150 bps across various maturities, a move that will provide better returns to people with fixed deposits in the bank. (ET)
Monday, December 6, 2010
BOOK PROFIT IN SELL NIFTY AT 5994
INTRADAY CALL
BANG ON TARGET
book profit................................
Buy & Hold ITC Ltd at Rs169.7 with SL of Rs 166 for Target Rs177.5
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ICICI Bank; RSI and stock closing above its 50 DMA
Buy ICICI Bank Ltd in the range(Rs1,170-1174) Target Rs1235: After forming an inverted head & shoulder on the hourly chart, stock has signaled a breakout and has been sustaining above the breakout levels of Rs1160 quiet comfortably. The support trend line drawn from troughs of October 2010 is reinstated affirming the long term uptrend in the counter and with prevailing positive crossover in the RSI and stock closing above its 50 DMA, it has voided negative trend in the counter. One can also see a formation of H&S bottom in RSI which support buying argument in the counter.We advise buying stock in the range of (Rs1,170-1,174) with stop loss of Rs1,147 for Target of Rs1235.
Nifty looking strong on charts, hold for 6550
Nifty Target 6,550
Index composition of Nifty conducive for setting a record high with some of its components exhibiting enormous strength
With strength in IT and FMCG sector, the decline in Nifty has got arrested at 38.2% retracement while broader index like BSE 500 retraced nearly 50%. Hence the composition of Nifty and Sensex turned out to be better in assisting quick recovery and we feel that the stage is set for the key indices to surpass the January 2008 peak very soon.
Corporate Snippets
± HDFC hikes home loan rates by 75bps. (BL)
± Siemens will invest nearly Rs4bn in the development of wind turbines in the country in the next two year. (BL)
± Honda could end up selling its 26% stake to Hero Group at a substantial discount to the market price, but this will be offset by higher royalty payment till 2014. (BL)
± ICICI Bank announced increase in both lending and deposit rates. (BL)
± Nuclear Power Corporation and Areva would sign two agreements for developing a 10,000MW nuclear power project at Jaitapur in Maharashtra. (BS)
± M&M will invest Rs2bn to set up a tractor manufacturing plant in South India, the location of which will be decided in the next three months. (BL)
± DLF has sold 150 plots, garnering more than 5bn, in a township project at Gurgaon. (BS)
± ONGC plans to spend US$1.8bn over three years to replace ageing infrastructure and maintain production at onshore oilfields in Gujarat. (ET)
± Central Bank of India plans to raise Rs25bn through rights issue in the fourth quarter of the current fiscal to augment capital adequacy. (BL)
± Sun Pharmaceutical Industries is set to delist its troubled US-based subsidiary Caraco Pharmaceutical from the US bourses. (BS)
Friday, December 3, 2010
Reliance BOOK intraday profit at 1026.90
INTRADAY sms Buy GIVEN AT 1011.40
\\\ Target at 1026.90, BANG ON TARGET ///
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