Monday, November 24, 2008
Our call on Nifty going strong at 2724, hodl for target
Buy and Hold SBI for short term delivery with SL 1177 and target of 1266, 1294 and 1300 plus
Buy and Hold Bank Nifty for short term for good returns..
]Buy Bank Nifty at 4300, SL 4207 hold for target of 4350, 4377 and 4400 plus
Subex ..
Nagarjuna Construction ..
Dabur India
Rs2bn in an all-cash deal.(TOI)
Reliance Power
the 600 MW Rosa Power project by September 2009, six months
Sun Pharma ..
to the US FDA warning on its quality standards.(ET)
US markets will be shut on Thursday due to Thanksgiving Day, and will have only half-day on Friday.
Asian market update:
Hang Seng index down 149 points, Shanghai Index down 31 points, Taiwan down 71 points and Kospi down 28 points
FIIs were net sellers of Rs7.05bn
FIIs were net sellers of Rs7.05bn (provisional) in the cash segment on Friday while the local institutions pumped in Rs462.2mn. In the F&O segment, foreign funds were net buyers of Rs3.23bn. On Thursday, FIIs were net sellers at Rs6.5bn in the cash segment. Mutual Funds net sold Indian shares worth Rs987mn on the same day.
Pri Market Commentary ...
The bulls may have enjoyed the strong bounce back on Friday after a seven-day rout. Don’t accept it as yet though we could see a few hundred point gains intra-week for the Nifty. This week may be a bit heavy in terms of news flow. Trading may be a lot more volatile given the F&O expiry on Thursday and anxiety over the Q2 GDP data, to be unveiled on Friday.
Though stocks may have fallen to attractive levels, the pain in the real economy could last much longer than one can imagine. Long-term investors can, however can dabble in stocks from time to time (and take home money in the short term too). Opportunities to buy will be many over the next few months.
Event calendar
26-Nov Amar Remedies AGM
27-Nov AIA Engineering Interim Dividend
27-Nov Empee Distilleries AGM/Dividend
27-Nov IMP Powers AGM
04-Dec NRC Ltd AGM
11-Dec Gufic Biosciences AGM/Dividend
12-Dec Colgate Palmolive Interim Dividend
12-Dec Garden Silk Mills AGM/Dividend
12-Dec Jyothy Laboratories Split
Positive & Nagative Breakouts
Indian Oil
BPCL
National Alumin
Ambuja Cements
ITC
Negative Breakouts
IDBI Bank
PNB
Bharti Airtel
Infosys Tech
Hero Honda
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