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Newsletter
 
Market Outlook
DAILY MARKET REPORT
Date
3.9.2010
MARKET COMMENTARY The key benchmark indices hit fresh intraday lows in late trade as profit taking emerged ahead of a crucial economic data in the US later in the global day. US is the world`s biggest economy. The BSE Sensex was closed at 18221, down 16 points and NSE Nifty fell 6 points to settle at 5479. However, the broader indices outperformed benchmarks today a s well; gained nearly 1% each. The Nifty fell below the psychological 5,500 mark, after crossing that level at the onset of the trading session. Metal stocks fell. But, fertilizer, hotel, realty and auto stocks rose. According to a data released by GOI, the food inflation inched higher in the third week of August as did inflation for the Fuel group and the Primary Articles group. Inflation for the Food Articles group stood at 10.86% for the year to 21 August 2010, as against 10.05% in the previous week, the Commerce & Industry Ministry data showed. Higher prices of fruits and vegetables led to food inflation accelerating in the latest data. Inflation for the Primary Articles group also rose to 15.19% from 14.75% in the year through 14 August 2010. Inflation for the Fuel & Power group increased to 12.71% from 12.57% in the preceding week, according to the Commerce Ministry data. TECHNICAL VIEW Domestic indices traded in a narrow band and witnessed lackluster movement today. As we had already mention that 5350 is acting as a strong support. Markets have rebound from the very same level after kissing a low 5349 on 31 August 2010. On the downside strong support is placed at 5450-5385. On higher side, 5485-5500 are likely to be next immediate resistance levels.
 
Index Futures Recommendations
 
N I F T Y Index Futurses         3.9.2010
Last quoted
5481
Prevailing Trend Neutral
Trend Change Level (3.9.2010)
Initiated
Age
Bullish
Neutral
Bearish
5480
1
-
-
-
 
Notes:
 
NIFTY TRADING REPORT In long term, we were long from the level of 5501, which we covered at a stop loss of 5483. Thereafter we initiated a short position from the level of 5482 with no stop loss as of now. In short term, we went long at 5445, in which we booked 25% profit at the level of 5465 and 25% more profit at the level of 5480. Balance 50% position was covered at 5480. Currently we are neutral. As always please check with the trading desk before initiating any fresh position.
 
CNXIT Futures Recommendations
 
 
Cash Market   
SATURDAY SEPTEMBER 4,  2010
S.NO
ACTION
DATE
SCRIP
ENTRY
PRICE
(INR)
STOP
LOSS
TIME
FRAME
TARGET
PRICE1
(INR)
TARGET
PRICE2
(INR)
TARGET
HITS
1.
Buy
31.8.2010
KARURVYSYA
708-709
Up To 1 Week
730
750+
Yes
2.
Buy
30.8.2010
JINDALSWHL
1775-1776
More than 3 Months
2000
2200+
No
3.
Buy
26.8.2010
DLF
315-316
More than 3 Months
400
460+
No
4.
Buy
25.8.2010
Tatasteel 500 Call (Sept.)
20-20.5
Up To 1 Week
28
32+
Yes
5.
Buy
20.8.2010
Suryapharm
228-229
Up To 1 Week
280
300+
Yes
6.
Buy
19.8.2010
RELIANCE
980-981
More than 3 Months
1050
1100+
No
7.
Buy
9.8.2010
Tatachem
360-361
Up To 1 Week
390
420+
Yes
8.
Buy
4.8.2010
Herohonda (fut)
1830-1832
More than 3 Months
2000
2200+
No
9.
Buy
29.7.2010
Andhrabank
140-141
More than 3 Months
175
190+
No
10.
Buy
22.7.2010
Sanghvimov
186-186.50
More than 3 Months
210
230+
No
11.
Buy
14.7.2010
ELECON
94.50-94.80
More than 3 Months
130
160+
No
12.
Buy
9.7.2010
KSOILS
56-56.20
More than 3 Months
72
78+
No
13.
Buy
9.7.2010
GMRINFRA
59-59.50
More than 3 Months
76
83+
No
14.
Buy
28.6.2010
SREINTFIN
83-83.50
More than 3 Months
100
120+
No
15.
Buy
25.6.2010
BPCL
576-577
560
Up To 3 Months
620
650+
Yes
16.
Buy
25.6.2010
IOC
356-357
345
Up To 1 Week
385
425+
Yes
17.
Buy
25.5.2010
CAIRN
270-271
2 Months
300
320+
Yes
18.
Buy
11.5.2010
JMC Projects
178-182
Up To 3 Months
220
250
Yes
19.
Buy
5.5.2010
HDIL
240-244
Up To 1 Week
270
330
Yes
20.
Buy
3.5.2010
ILFS INVST MNGRS
44-46
More than 3 Months
55
65+
No
21.
Buy
13.4.2010
PNB
990-1000
Up To 3 Months
1200
1300
Yes
22.
Buy
26.3.2010
Ametkindia
69-69.10
65
Up To 3 Months
85
88
No
23.
Buy
23.3.2010
BAJAJAUTO
1850-1853
1800
Up To 1 Week
2030
2050
Yes
24.
Buy
17.3.2010
BHARTIAIRTEL
298-299
1-2 Weeks
320
330+
Yes
25.
Buy
12.3.2010
EVEREADY
63-63.10
59
2 Months
73
75
No
26.
Buy
9.3.2010
RELIANCE
990-992
970
2 Months
1130
1150
Yes
27.
Buy
2.3.2010
RNRL
61.60-61.70
59
1-2 Weeks
64
66
Yes
28.
Buy
26.2.2010
HEROHONDA
1750-1755
1700
2 Months
2030
2050
Yes
29.
Buy
11.2.2010
TEXMACOLTD
146-147
140
2-3 Weeks
160
170+
Yes
30.
Buy
1.2.2010
PRAKSHIND
185-188
160
2 Months
210
230+
Yes
31.
Buy
1.2.2010
GTOFFSHORE
410-414
380
3-4 Weeks
430
450+
Yes
32.
Buy
28.1.2010
YES BANK
245-246
More than 3 Months
270
300+
Yes
33.
Buy
15.1.2010
STAR
270-272
222
Up To 3 Months
350
400
Yes
34.
Buy
13.1.2010
JINDALSAW
204-206
190
2 Months
220
250
Yes
35.
Buy
12.1.2010
SUPREMEIND
384-386
Up To 1 Week
420
450+
Yes
36.
Buy
6.1.2010
BARTRONICS
155-159
135
Up To 3 Months
190
210+
No
37.
Buy
29.12.2009
APOLLOTYRE
48-48.10
Up To 1 Week
53
55+
Yes
38.
Buy
24.12.2009
ANSAL INFRA
68-70
55
More than 3 Months
90
120+
No
39.
Buy
23.12.2009
MANGALEMCEM
150-152
130
3-4 Weeks
165
180+
Yes
40.
Buy
22.12.2009
WELSPUNIND
90.50-91
More than 3 Months
110
120+
Yes
41.
Buy
21.12.2009
ICSA
170-172
180
2 Months
200
220+
No
42.
Buy
7.12.2009
ELECTCAST
43-43.15
2 Months
55
55+
Yes
43.
Buy
4.12.2009
ORIENTABRA
22.75-23
2 Months
300
30+
Yes
44.
Buy
2.12.2009
BHARTISHIP
170-170.50
2 Months
250
250+
Yes
45.
Buy
1.12.2009
GEODESIC
100-100.20
Up To 1 Week
120
120+
Yes
 
Notes:
 
New Page 1
STOCK NEWS 03 SEP 2010

Ashok Leyland reported a 56.35% jump in sales at 7,480 units in August 2010 over August 2009.

Mahindra Satyam has won a multi-million dollar technology services deal from a large health insurer.

Cipla turns ex-dividend today, 3 September 2010, for the payment of special interim dividend of 80 paise per share for the year ending March 2011 (FY 2011).

Nakoda plans to invest Rs 32.92 crore to set up a wind power project in Madhya Pradesh. The firm is setting up a plant in Jethana district with a total capcity of 5.25 megawatt (MW). This will raise its wind power capacity from 6.75 MW to 12 MW, the company said. Nakoda will enter into a power purchase agreement with Madhya Pradesh Electricity Board to supply around 11.2 million units per year at the rate of Rs 4.35 per unit for 13 years.

Apollo Hospitals Enterprise reportedly plans to invest Rs 1800 crore to set up 11 hospitals in the country over the next two years.

Asian Hotels (West) has acquired 16.38% stake in Inovoa Hotels and Resorts. Asian Hotels plans to acquire an additional 34.11% in Inovoa during the current fiscal following which the latter would become its subsidiary, it said.

GVK Power and Infrastructure reportedly plans to raise funds for its airports business by December 2010 via stake sale to private equity (PE) firms.

Transwarranty Finance's board will meet on 6 September 2010 to evaluate its subsidiary -- Vertex Securities' plan for entering into natural resources business.

 

 
 
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