Tuesday, November 25, 2008
Buy & hold Siemens on dips around Rs285-293 with SL of Rs279 for target of Rs311, 315 plus
HRT: Sell Sesa Goa around Rs64.90, SL 67.90 hold for tgt 54.90 and below
Bharti Airtel
Shares of Bharti Airtel gained by 2.7% to Rs636 after reports stated that DoT would allot spectrum to the company in 10 days. The scrip touched an intra-day high of Rs645 and a low of Rs598 and recorded volumes of over 8,00,000 shares on BSE.
SBI
SBI would hold 74% and IAG would hold 26% of the equity in the new company. The scrip touched an intra-day high of Rs1222 and a low of Rs1115 and recorded volumes of over 19,00,000 shares on BSE.
Siemens, Balarampur Chini and Fedders Lloyd will announce their quarterly results today.
Positive & Nagative Breakouts
Gujarat Gas
ITC
Spicejet
DCHL
IVRCL Infra
Negative breakout
MTNL
Siemens
Titan
Infosys
Vijaya Bank
Pri Market Commentary ...
Today, Indian Market may open 3-4% up, the bulls banked on the government and for a change they can deposit their worries somewhere. The US markets welcomed the current regime's rescue effort to rid banking giant Citigroup of its ills and avert a major worldwide catastrophe. For a second successive session, US stocks rallied, as president-in-waiting Barack Obama officially announced his economic team. The twin bit of good news had a soothing effect across global equity markets, with European stocks joining the bull party.Meanwhile, Finance minister P Chidambaram has asked the country to perish the thought of recession and cherish hopes of a rebound by the middle of next year.
Emerging markets too notched up pretty decent gains, with the Bovespa in Brazil surging over 9% and Russian stocks rising more than 7%. The global rally in equities also seemed to rub off on commodities, with crude oil climbing 9% and gold rallying hitting a five-week high. It remains to be seen though, whether the euphoria can be converted into a sustained year-end rally. For that to happen, we need an end to the almost daily dose of negative news from across the globe.
Event calendar
27-Nov AIA Engineering Interim Dividend
27-Nov Empee Distilleries AGM/Dividend
27-Nov IMP Powers AGM
04-Dec NRC 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
15-Dec Entegra AGM
Delivery Calls !!
Buy ITC
Buy JP Associates
Buy India Bulls Real estate

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