Mutual Funds Investment Picks - 2010
Weekly Newsletter - Jan 2 2010
Markets likely to test new highs
Weekly Newsletter - Jan 3 2010
ValueGuide 2010
Sobha Developers
Mutual Funds Analysis
Royal Orchid Hotels
Daily Newsletter - Jan 4 2010
Top Stock Picks - 2010
2010 Yearly Stock Picks
Hindalco Industries
Blackstone - 2010 will be a difficult year
IVRCL Infrastructure
Navneet Publications
Everest Kanto
Jet Airways, Wipro, Moser Baer, Sesa Goa, Voltas
Reliance Infrastructure
Elecon Engineering
MOre @ http://www.deadpresident.blogspot.com/
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TECHNICAL ANALYSIS: Index Outlook: Optimism reigns supreme
Indian equities bid a fitting adieu to 2009 with the Sensex waving merrily from its 52-week high. The New Year will begin on an irritating note for market intermediaries as trading begins an hour early from Monday. But then, as the ancient ...
STOCK MARKETS: Sensex outlook for 2010
If 2008 was a year of unprecedented decline in the equity market, 2009 will go down as the year of astounding rebound. In the Outlook for 2009 published on December 28, 2008, we had expected one leg of the bear market to end in the first ...
STOCKS: Orchid Chemicals & Pharmaceuticals: Sell
Shareholders can consider paring their exposure to the stock of Orchid Chemicals & Pharmaceuticals, which recently sold its antibiotic injectables business to the US-based Hospira Inc for $400 million (about Rs ...
STOCKS: Bombay Rayon Fashions: Buy
Investors with a long-term perspective can buy the stock of small-cap textile player Bombay Rayon Fashions (BRFL), manufacturer of fabric and apparel. At Rs 189, the stock trades at 10.6 times its trailing 12-month per share earnings. Though ...
STOCKS: India Cements: Book Profit
Investors in the stock of India Cements can consider booking profits at this point and entering the stock at a later date. Oversupply worries in the Southern region and the resultant pressure on prices in this region may curtail the ...
MUTUAL FUNDS: Tata Dividend Yield Fund: Hold
Investors can retain units of Tata Dividend Yield Fund (Tata Dividend), considering its steady returns track record over the long term. The fund seeks to invest in stocks that yield dividends higher than that of ...
INVESTMENTS: Investment ideas for 2010
The year 2009 started off on a subdued note for equity investors but by year-end both the BSE Sensex and Nifty were trading 80 per cent higher. With the markets trading at a price-earning multiple of well over 21 times from 11 times at the ...
STOCK MARKETS: Sensex in 2010
Global backdrop. Despite the strong gains recorded by equities across the world, most global benchmarks are still some way away from their previous peaks. The MSCI World index is positioned exactly half-way up the decline that ensued after the ...
TECHNICAL ANALYSIS: Index Strategy: Bull call spread on Nifty
Overall market sentiments as we move into a new trading year appear no less than bullish given the healthy rollovers seen in December derivative contracts. Traders can consider playing this uptrend in the market by setting a bull call spread ...
Tata Power (1,382): The stock has been moving in narrow range for sometime. It closed last week above the crucial level of Rs 1,350. The outlook appears bullish as long as it stays above this level. The stock finds its next resistance at ...
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Wkly Tech Analysis: Old highs may be tested
The year 2009 ended on a high note, with benchmark (BSE & NSE) indices registering best yearly gains in the last two decades and touching fresh 19-month peaks. The year, however, will be most remembered for the Sensex and the Nifty hitting the upper circuit for the first time.
In the week under review, the markets surprisingly moved in an extremely narrow band despite the two holidays and the derivatives expiry. The BSE benchmark index, the Sensex, moved in a narrow range of 200-odd points. The index touched a high of 17,531 and settled with a gain of 104 points at 17,465.
Among index stocks, Reliance Infrastructure surged over 4 per cent. NTPC, Grasim, Bharti Airtel, SBI, Hindalco and Jaiprakash Associates were the other major gainers. Sun Pharma dropped 3.6 per cent. DLF, Wipro and ITC were some of the other prominent losers.
Lack of momentum on the upside suggests the up move may halt temporarily. The Sensex needs to sustain above 17,550 for further gains, while on the downside, the index may seek support at 17,385-17,335, below which the bears are likely to have the upper hand.
The longer-term picture, since we are at the start of the New Year, looks quite promising. Chances are that we may re-test the 21,000-mark this calendar year, while there are multiple strong supports for the index on the downside. The bias will remain bullish as long as the index remains above 13,840 this year. There is a further deeper support around 11,590 in case of extreme bearishness. On the positive front, the Sensex is first likely to target 19,550, followed by 21,090, in 2010.
The Nifty moved in a range of 62 points and ended with a gain of 23 points at 5,201. Last week, I had mentioned that the Nifty needed to sustain above 5,210 for fresh bullishness. As we see, the index was unable to close above 5,210 on any single day. Currently, the chart suggests that the Nifty needs to close above 5,237 for fresh bullishness. The Nifty may face resistance around 5,225-5,240 and find support around 5,177-5,163. A dip below 5,163 could see the index fall to 5,100 and then further lower to 5,010.
Unlike the Sensex, the yearly Nifty chart reveals that it will be difficult for the index to attain its 2008 peak (6,357) this year. In fact, the index has strong resistance around 6,225. The first significant target for the index is 5,790. On the downside, the index is likely to find considerable support around 4,600 and further lower at 4,175.
Src: BusinessLine and DP Blog, Business-Standard and Etc
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