Reliance

Reliance confirms that it has submitted to LyondellBasell a preliminary non-binding offer to acquire, for cash, a controlling interest in LyondellBasell upon its emergence from Chapter 11 pursuant to its plan of reorganization. The offer is preliminary and subject to customary conditions including conduct of due diligence, documentation and receipt of sufficient creditor support.

Reliance is reviewing a number of global opportunities for growth in its core business. This review is ongoing and there can be no assurance of the outcome with respect to any of the opportunities under review, including with respect to LyondellBasell, or that any approach made in connection with such opportunities will result in a transaction.

SEBI has asked Reliance Industries why it should not be barred from accessing the stock markets under rules governing fraudulent and unfair trade practices. (BS)

Shares of Bharti Airtel lost further ground hitting is lowest level in over half a year after the tariff war in the mobile telecom space got fiercer. Bharti Airtel hits its new 52-week low after the company cut roaming rates by as much as 60% to match offers by newcomers including NTT DoCoMo Inc.

On Monday, the stock slipped 4% to Rs275. The stock opened at Rs289 and made an intra-day high of Rs290 and a low of Rs275. Total traded volumes stood at 4.2mn shares.

Shares of Aban Offshore have gained by 0.5% to Rs1357 after the company announced that it raised Rs6.98bn selling shares to institutional investors. The stock opened at Rs1380 and made an intra-day high of Rs1403 and a low of Rs1367. Total traded volumes stood at 0.3mn shares.

Shares of Essar Oil gained by 2% to Rs139 after reports stated that Royal Dutch Shell Plc is in talks to acquire a 10% stake in the company.

FIIs were net sellers in the cash segment on Monday at Rs1.68bn on a provisional basis. The local funds were net buyers of Rs1.3bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs3.94bn. FIIs were net sellers of Rs1.26bn on Friday. FIIs' net investments in Indian stocks this year have crossed $15bn.

Pre Market Intraday Idea

Sell Titan above 1357,
sl 1377 hold for target 1325

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Pre Market Commentary ...

Today, keep your goals reasonable and don’t forget to take some gains home. Overall, the sentiment is positive. So, ride the momentum but some selloff is not ruled out as the market is near a year’s high. We expect a cautious start due to mixed Asian cues. As usual, trading will be volatile ahead of F&O expiry.

The Nifty could take a shot at 5200 though it may not surpass it. It may find support near 5075-5080 in case the market dips. The undertone will continue to hinge on global developments. A slew of economic reports are due in the US, which will have a truncated week due to the traditional start to the holiday season. Local event to watch out for is the release of Q2 GDP data.

Risk appetite seems to be up again after showing signs of a fatigue last week. Gold has hit a new record. Other risky assets have also advanced at the cost of the dollar. The underlying feeling is that central banks are unlikely to reverse the extraordinary stimulus anytime soon. This means the dollar will remain under pressure.

Pre Market Ideas

Buy Axis Bank at 994 and
Hold for target of Rs 1025
and 1045 plus

Buy and Hold Hotel Leela at 39
sl 34.90 hold for 44 plus

सेन्सेक्स (17180.18) 158.33 अंक चढ्कर, नीफ़्टी (5103.55) 51.10 अंक चढ्कर, बंद..

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European markets update: CAC Index up 1.3%,DAX Index up 1.6% and FTSE Index up 1.4%

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RIL : Our delivery call trading very strong on news flow, hold for next targt of 2200 and plus

Intraday : Sell India Info at 144 SL 147 Tgt 141,137.

Intraday :
Sell India Info
at 144 SL 147
Tgt 141,137.

Market Commentary ..

Today, bulls will hope for a bounce back at regular intervals during the interim rough patch being seen on the bourses. At the same time bears will continue to scout for money making opportunities. One should remain on guard as volatility could escalate ahead of Thursday’s F&O expiry. Don’t get hurt while the bull-bear tussle is on.

The Nifty is likely to oscillate between 5100 and 4900 depending on the news flow and fund flows. With the key indices up smartly from March lows, the upside may be limited from here on. There are some concerns on the pace of the rally amid a somewhat murky outlook but no need to panic as such. Globally, risk appetite may start easing a bit as we approach the year end. Demand for defensive plays may shoot up. Dollar’s movement will continue to determine the near-term fate of global equities. Economic data will of course continue to have a bearing on sentiment. The overseas Christmas holiday season will also be keenly followed. For India, the big event will be Q2 GDP data.

Pre Market Intraday Call !!

Buy Suzlon
Buy PFC




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NALCO is in talks with an Islamic bank in Indonesia for a loan to revive its Rs100bn Iran project. (BS)

Tata Steel to switch 56% of securities into convertible bonds. (BL)

ICICI Bank raises US$750mn through overseas bond issue. (BL)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS


INFOSYS
HERO HONDA
GSPL
WIPRO
SESA GOA


NEGATIVE BREAKOUTS


MPHASIS
BHARTI AIRTEL
RELIANCE INFRA
TATA TEA
INDIAN OIL

FIIs were net sellers in the cash segment on Friday at Rs4.64bn

FIIs were net sellers in the cash segment on Friday at Rs4.64bn on a provisional basis. The local funds were net buyers of Rs184.6mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs2.98bn. FIIs were net sellers of Rs3.34bn on Thursday. Mutual Funds were net sellers of Rs1.77bn in the cash segment on the same day. FIIs' net investments in Indian stocks this year have crossed $15bn.

NIFTY (5052) SUP 4952 RES 5152

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