HOLD FOR NEXT
TARGET AT 217
TRAIL SL COST TO COST
Tuesday, December 22, 2009
F&O Ideas ...
Buy DISH TV INDIA Dec Future at Rs41
for the target price of Rs44
and stop loss 39.90 [Lot size: 5,150.]
Remarks: Net maximum profit of Rs15,450
and net maximum loss Rs7,725.
"
Crude oil for January delivery fell 89 cents to settle at $72.47 a barrel.
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Reliance Infrastructure is on track to commission over Rs100bn worth of infrastructure projects in the next seven months. (BS)
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Fortis Healthcare, post-acquisition of 10 hospitals from the Wockhardt group, will spend around Rs2.5bn to complete the ongoing hospitals in Mumbai,
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TVS Motor plans to launch diesel auto-rickshaws as part of its strategy to grow in the domestic market. (ET)
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FIIs were net sellers in the cash segment on Monday at Rs2.92bn on a provisional basis. The local funds were net buyers of Rs3.54bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs517.2mn. FIIs were net buyers of Rs834mn in the cash segment on Friday.
Pre Market Intraday Idea ..
Buy NTPC at Rs204 stop loss Rs194
target Rs211 & 217
BUY Sasken at Rs181
SL 144 HOLD
for Target Rs197
& 204
Pre Market Commentary ..
Today,we must thank to firm global cues, we expect a higher opening and another choppy day. Can’t call it Christmas shopping, though! On the whole, the current lackluster trend is expected to continue. The Nifty will find some support and could surpass the 5000 mark again. The near-term trading range may be between 4900-5100. The right thing appears to be really on a long holiday. The key indices have gone nowhere in the past 3-4 weeks and the trend has been extremely dull.
Traded volume too has tapered off and is likely to remain low in the face of the upcoming holidays.Volatility will prevail given the murky outlook and F&O expiry next week. Stock centric action will continue based on the news flow. Short term traders are likely to take profit at every rise. A major break down is ruled out for now but avoid risky bets. Don’t read too much into what goes in the market these days as bulls and bears both seem to be lacking conviction.
Monday, December 21, 2009
RELIANCE : first target achived at 1033 hold for next target of 1077
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RIL : no jai no viru.... CLOSE to first target
Our morning call
Buy RIL is going strong
at 1027
HOLD FOR
TARGET
Axis bank's overseas bond issue put on hold, to wait for spreads to narrow. (BS)
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NTPC proposes power project in Ghana in exchange for LNG. (Mint)
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FIIs were net sellers in the cash segment on Friday at Rs2.07bn on a provisional basis. The local funds were net buyers of Rs3.31bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs6.22bn. FIIs were net buyers of Rs4.89bn in the cash segment on Thursday. Mutual Funds were net sellers of Rs272mn on the same day.
Pri Market Commentary ...
Today, the outlook is a flat to tad higher opening. Asian markets are mixed. US market got a boost from technology on Friday. Banks pulled down Europe. Christmas is upon us, and the countdown to 2010 has begun. After a stellar year for equities (following a disastrous 2008), some fatigue has set in. So, a wait-and-watch mode is the order for now. The market will continue to consolidate in the remaining sessions, and perhaps even beyond that. Since there will be two extended weekends, volume could dip and volatility might rise. Overall, the market will be insipid.
The near-term trigger will be how the policymakers execute their ‘exit’ strategies. In India, the fear is for an early reversal in loose money policy given the spike in inflation. Earnings will be watched as well, though the focus is now on FY11. Budget will also have a bearing on sentiment.Dollar’s movement and Fed’s action will be crucial for world markets. Liquidity is not an issue for India, but it is time to be selective.
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