BankNifty going strong at 5371, hold for target

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Buy and Hold NIFTY Oct Fut at 3390 with SL 3320 hold for target 3500-3650 - Hold for 7days.

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Market alert :

Nifty strong support at 3200 from where it has bounced back, and may even touch to 3600-3700 levels in coming days. Fresh shorts should be done only below 3200 levels.

Our both pri makret ideas buy RANBAXY and MARUTI upby 2%, book some profit

Our call on BankNifty going strong at 5351, hold for targets

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Our HDFC Bank Fut going strong at 1095, hold for targets

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HRT: Buy BankNifty Oct Fut at 5315 with SL 5249.90 hold for target of 5394 ,5424 and 5500 plus Hold for week

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BUY HDFC BANK Oct Fut at 1068, with SL 1048 and hold for target of 1100 and 1120 plus

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LNT : Our delivery call given at 900, trading strong at 959.90, HOLD for targets ///

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SBIN: Our delivery call going strong upby 5% at 1422.90, target achived

Our SMS on Friday was ...

""Delivery Call : Buy SBIN around and below 1300, SL 1269.90 hold for short term target Rs1347.90 and 1374.90 plus""

TARGET ACHIVED

Indian panel on Liquidity to meet at 3:30 pm today - report

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Axis Bank Q2 profit at Rs403cr (up 77%)

Axis Bank Q2 Total income at Rs3240cr (up 57%)

Axis Bank has posted a net profit of Rs 402.91 Cr Vs Rs 227.82 Cr (YoY); Total Income has increased from Rs 2059.37 Cr to Rs 3239.45 Cr (YoY); results better than expectations

HRT: Buy Ranbaxy for intraday, for good returns.

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ICICI Bank sharply recovered by over 6% after hitting 52-week low of Rs327.

The stock plummeted by over 20% at Rs364 the most since its trading debut in September 1997. The scrip touched an intra-day high of Rs423 and a low of Rs326 and recorded volumes of over 1,00,00,000 shares on BSE.

The RBI and FM, P Chidambaram in the previous week issued statements reassuring investors that the bank has enough capital. ICICI’s Joint Managing Director, Chanda Kochhar reassured investors stating that the bank enough liquidity.

Pri Market Commentary ..

Today, we expect the market to open mix, as Indian equities continued to get hammered out of shape following the unprecedented carnage in the global markets and surprisingly weak domestic economic data. Globally also, all efforts to bail out the financial system remained inadequate. Back home, an aggressive CRR cut could not stop the bear onslaught.


On Friday, US markets recouped most of their early losses and ended only modestly lower. The Nasdaq actually ended in the green. The smart recovery on Wall Street could give some hopes to the bulls, after the benchmark BSE Sensex and the NSE Nifty lost 16% and 14% respectively last week. But we are not convinced that the correction has ended. The turmoil in the global credit markets is still far from over, and it's possible that FIIs would continue to stay away from emerging markets for some time to come. We continue to advise caution at this stage. Investors should stay on the sidelines till the global markets stabilise. One should not get carried away if there is any kind of a bounce back, as further selling is expected.

Positive & Negative Breakouts

Positive Breakouts (BSE-200)
Ranbaxy Labs
OBC
Union Bank India
Power Grid Corp

Negative Breakouts (BSE-200)
BPCL
NTPC
GTL
National Alumin
Indian Bank

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Asian markets open in green this morning ...

On Friday, After with the technology-laden Nasdaq even managing a positive finish. What's more, major Asian markets that are open today for trading this morning (barring China and Taiwan) are well in the green. The Japanese markets are shut for a holiday. The Dow Jones Industrial Average futures are up over 200 points.

Pre Market Ideas !!

Buy Ranbaxy at Rs 293
SL 284.90 Tgt of Rs 304.90

Buy Maruti at Rs 679
SL 668.90 Tgt 694.90



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FIIs were net sellers of Rs25.13bn

FIIs were net sellers of Rs25.13bn (provisional) in the cash segment on Friday while the local institutions pumped in Rs17.45bn. In the F&O segment, the foreign funds were net buyers at Rs1.62bn. On Thursday, FIIs were net sellers of Rs8.48bn in the cash segment, taking their total outflows this year to more than $10bn.

We continue to advise caution at this stage.

Considering the unprecedented carnage in the global financial markets and uncertainty over the fate of the US and other major economies, we would like to refrain from giving any intra-day trading ideas. We continue to advise caution at this stage.

Investors should stay on the sidelines till the global selloff abates and markets stabilise. One should not get carried away if there is any kind of a relief rally, as further selling is expected. Any advance in Indian stocks can only be sustained if global markets recover.