morning call,
BUY and HOLD
BOB at 1220
sl 1211
TARGET 1233,1237
BUY and HOLD
BOB at 1220
sl 1211
TARGET 1233,1237
Wednesday, February 16, 2011
Corporate Snippets
± IOC share sale delayed to next fiscal, a delay of at least a few months from an earlier slated January launch on unfavourable market conditions. (BS)
± Tata Motors is redrawing distribution plans of its joint venture with Fiat as sales number of the Italian carmaker has not been up to expectations. (ET)
± TCS expects to generate US$1bn revenue over five years by providing technology solutions to small-and-medium business units. (ET)
± HCL Technologies unveiled its global enterprise mobility laboratory in Singapore. (FE)
± SBI is expected to launch the first tranche of its Rs100bn retail bond issue on Monday. (FE)
± The Central Bureau of Investigation questioned a top executive of Unitech as part of a probe into a telecom corruption scandal. (BS)
Tuesday, February 15, 2011
Book profit in Indian Bank at Rs220.5
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Book Profit in Hdfc Bank recommended on Friday at Rs2075
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Buy & hold Federal Bank at Rs387 with SL of Rs381 for target of Rs399, 403
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Allied Digital ; Our yesterday call BUYER CAP freeezzzzzzzz
buy call given at 77.90, target 155
hold.............save this message
hold.............save this message
Book profit ...bang on target
Sell Deccan Chronicle Ltd Feb Future in range of Rs80 - 81 for the target price of Rs75 with a stop loss placed at Rs83.
Lot size: 2000
Remarks: Net maximum profit of Rs12,000 and net maximum loss of Rs6,000.
Market Commentary ..
After a scary fall of last week, the Indian market has bounced back, and how! In just two trading sessions, the Nifty has rallied a whopping 250 points. We expect another positive start but there may be some softening later, as global markets seem to be taking a pause.
Immediate projection of a ‘falling wedge’ is placed at 5650 in the near term and 5350 will act as a strong support for the Nifty. The 200-DMS is placed at 5630.
Some moderation in inflation has offset another bad set of IIP data. End to the civil unrest in Egypt coupled with a drop in oil prices and the continuous strength in the US market have also aided the sentiment.
On the political front there seems to be some relief as well. The Government is likely to announce a JPC probe into the mega 2G scam shortly. As a result, the Budget session may not suffer the same fate as the winter one did.
Curtains will soon come down on yet another earnings season. Tata Steel will declare its Q3 results today.
NIFTY FO CLOSED @ 5455 AS ON 14.02.2011
NIFTY FO has resistance @ 5477 to 5483, above which other resistance levels are @ 5493 to 5510. In down side support levels are @ 5430 to 5409 levels; below which other support levels are @ 5390 to 5370 levels in FEBRUARY - 2011. I am positive for next week above 5510 level but be with the trend. Let the market decide further moves. As we are saying from many days Buying is suggested in falls only. and it�s still a better strategy in the given scenario. One can go for buy at those levels also, but in absence of that its time to BOOK PROFIT now. This is a pessimistic outlook but that's the way we tend to be, in this market.
Corporate Snippets
± Tata group has entered into a joint venture with the US aerospace and defence company Lockheed Martin Corp to make aircraft components for the C-130 transport planes. (BS)
± Reliance Infrastructure will buy back shares aggregating Rs10bn at up to 725 a share. (ET)
± Tata Motors subsidiaries, HV Transmissions and HV Axles, are set to merge to form TML Drivelines, in order to harness synergies and become a total driveline solutions provider. (FE)
± Bharti Airtel’s plans to delist its Zambian arm, Celtel Zambia, have hit a roadblock with the Lusaka Stock Exchange rejecting its application to delist reportedly for “procedural flaws”. (ET)
± Hero Motors sold a stake of 17.6% in Munjal Kiriu Industries, a joint venture with Japan’s Kiriu Corp, to the co-promoter. (BS)
± MoEF gave its conditional go-ahead to JSPL for its six mtpa integrated steel plant and 1,000 Mw captive power plant in Orissa. (BS)
± Fortis Hospitals has made its entry into Kerala with the launch of its first information centre at Thrissur. (BS)
± Cipla is discontinuing a clutch of veterinary medicines in the domestic market. (BL)
± Vijaya Bank might seek a second deadline extension for meeting the 70% provision coverage ratio (PCR) norm even as the pace of rise in its non-performing assets was falling. (BS)
± GlaxoSmithKline Pharmaceuticals would hire people to support the promotion of its products in the vaccine, branded generics and speciality segments, among others. (BL)
± Jain Irrigation Systems Ltd is now planning to commercially enter the green energy sector and offer its expertise to food processing and other companies to make them use solid bio-waste for power generation. (BL)
Monday, February 14, 2011
ICICIBANK; Our friday call upby 3.10% at 1037 .... hold
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HANUNG: Our friday call - freexxxxzzzzzzz buyer cap 235.60 BOOKPROFIT
UPBY 20%... JUST IN A TRADING DAY!!!!!!!!!!!!!
Allied Digital Services Ltd: ‘Selling overdone’ – BUY
CMP Rs78, Target Rs155, Upside 98.7%
± IT survey misconstrued as IT Raid; impact not material
± Results materially below expectation; business largely intact
± Strong selling pressure seems to have abated
± More than commensurate de-rating of valuation makes ADSL a strong value pick
Buy Indian Bank at Rs215 with SL of Rs212 for Target of Rs222
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Buy ICICI bank (1001.60) with s/L 990 tgt 1020, 1030
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Buy and Hold....
Patel Engineering Feb Future in range of Rs199 - 200 for the target price of Rs207 with a stop loss placed at Rs196.
Lot size: 1000
Remarks: Net maximum profit of Rs8,000 and net maximum loss of Rs4,000.
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