Market Watch: Stocks to open higher ahead of FnO expiry

Market Watch: Stocks to open higher ahead of F&O expiry



MUMBAI: Stocks are expected to open higher on Thursday as global cues are supportive. However, given the F&O expiry due today, volatility is

Correction offers opportunities Not a good time to start buying How to do stock trading? Decoding demat: Trade secrets

likely to continue.

“The market is taking time to consolidate and create a base before we head for a big rally. There is not much momentum seen in the markets ahead of the Union Budget and F&O expiry. Every dip in the market should be used as a buying opportunity around the support levels and every rise should be utilized as selling opportunity unless Nifty manages to hold above 4,950.

For today, support for Nifty seen at 4,805-4,785 and stiff resistance at 4,885 level, if Nifty holds above 4,885 then next level could be 4,950. Sensex is facing a stiff resistance at 16,330 level which is a crucial level to watch out,” said Nirmal Bang Securities.

US stocks climbed higher Wednesday on hopes of more cheap money after Federal Reserve Chairman Ben Bernanke reassured lawmakers interest rates will remain low.

The Dow Jones Industrial Average gained 91.75 points, or 0.89 per cent, to 10,374.16. The Standard & Poor's 500 Index rose 10.64 points, or 0.97 per cent, to 1,105.24. The Nasdaq Composite Index advanced 22.46 points, or 1.01 per cent, to 2,235.90.

Asian stocks were trading with minor losses Thursday. The Nikkei edged 0.02 per cent lower, Hang Seng shed 0.75 per cent, Straits Times lost 0.08 per cent and Taiex fell 0.09 per cent.

Back home, markets ended on a flat-to-negative note Wednesday, even as the railway budget was presented. Trade was choppy ahead of expiry of February F&O series Thursday and caution ahead of Union Budget on Friday.

Bombay Stock Exchange’s Sensex ended at 16,255.97, down 30.35 points or 0.19 per cent. It touched a low of 16187.44 and touched a high of 16328.44. National Stock Exchange’s Nifty closed at 4858.60, down 11.45 points or 0.24 per cent. It touched a low of 4834.65 and high of 4880.55. BSE Midcap Index was down 0.41 per cent and BSE Smallcap Index moved 0.61 per cent lower.

• Top 5 stock picks of the day
• Mid-term picks of the day

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Heard on the Street



Citi MD quits fin market jungle, heads for the wild

Nikhi Nagle, managing director and head of India equities at Citi, is learnt to have put in his papers, less than a year after taking charge of the broking operations in India. Speculation had been rife ever since Keshav Sanghi was hired as deputy head of India equities, that Mr Nagle may move back to the investment bank’s Hong Kong division.

Rated as one of the best traders in Citi, he was managing the bank’s proprietary book out of Hong Kong, before being made head of India equities in February 2009. Buzz on the Street is that the ace trader will devote time to his wildlife NGO for a while, which aims to increase awareness for India’s forests and tribal population.

Stimulus, but of a different kind

The sudden demand for Rural Electrification Corporation (REC) shares from foreign fund houses on the last day of subscription on Tuesday had tongues wagging. It turns out that the merchant bankers to the issue were subjected to some tongue lashing from senior officials in the divestment ministry for not having done a proper job of hard selling the offering.

The government must have been particularly stung by the fact that lesser-known companies were raising funds with ease, while companies with proven track records like NTPC and REC were being made to look ridiculous. Anyway, the “stimulus” seems to have had an immediate effect, with the lead managers going into an overdrive to drum up interest for the issue.

This is not the first time that merchant bankers are taking it on the chin from the government. In 2004, some prominent investment banks had been hauled by the minister for disinvestment, after it transpired that their broking arms were offloading shares of ONGC, which was in the midst of its follow-on issue.

Oricon Enterprises eyes real estate in Mumbai

Buz is that Oricon Enterprises, a logistics, trading and distribution company, is planning to develop its real estate in Mumbai. According to dealers tracking the stock, the company is planning to construct commercial real estate on its 2-acre plot in Worli, a prime location in Mumbai.

According to punters, the move will increase cash position of the company by about Rs 600 crore. Company officials were not available for comment. Shares of Oricon Enterprises ended 0.4% lower at Rs 348.20 on the BSE.

Contributed by Deeptha Rajkumar, Santosh Nair & Shailesh Menon


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Wealth Creation

Rural Electrification Corporation Ltd

India Auto Sector

India Budget Strategy

Mahindra and Mahindra

Godrej Properties

Railway Budget Highlights - 2010-11

Railway Budget 2010-11 Review

Daily Newsletter - Feb 25 2010

Rei Agro

Src: Economictimes, Deadpresident Blog

Yesterday I saw God Playing Cricket, Sachin 200 in ODI

Nothing is impossible: Sachin Tendulkar's unbeaten 200- ET Cetera ...

Sachin Tendulkar’s unbeaten 200 is a testimony to his fitness and commitment even as he heads for his 37th birthday. He is looking as fit as focused and as formidable as he ever has, and his timing remains untouched by the passing years. Having played till the age of 39, I know that discipline, good, healthy living and focus can add years to one’s career. What I lost in pace and stamina, I gained in control and guile. In Tendulkar’s case, too, he has smartly sorted out his game. He might not have the eye he had in his late 20s, or the speed — those are the peak years of every batsman. However, Tendulkar has compensated for those areas with excellent shot selection and placement. I always maintain that Test cricket and one-day cricket are two different areas, one cannot be connected to the other. However, Tendulkar’s rich vein of form in the longer version seems to have relaxed him and given him the freedom to play in an unburdened manner. Though I did not see the knock, the statistics I have got are staggering. The fact that he got the score in 147 balls itself is a huge achievement and by reaching 200 he bettered one of the best one-day knocks I have seen, by Saeed Anwar. The latter was one of the sweetest timers of the ball, and that knock in Chennai was when he was at the peak of his form. To have bettered that Tendulkar must have really turned on the magic with some scintillating shots. There may be many who will say that the wicket helped strokeplay and that there was nothing in it for the bowlers. But no matter what the wicket is like, to stand through 50 overs and score 200 is a very, very special effort — an achievement that his contemporaries, Ricky Ponting and Brian Lara, would have been proud of. If I had had to pick up a guy as the one to score the first one-day double ton, it would have been Virender Sehwag. He is young, belligerent and in unbelievable touch. However, it was his illustrious senior who pipped him at the post. Tendulkar seems to have rediscovered an exuberance and enjoyment which seems to have taken his game to a different level, and India would be hoping that he maintains this rhythm for some time. This achievement would mean a lot to Tendulkar, even though he has many records to his name because every opener must have had an eye on this record. A double century has only been a theoretical possibility in limited overs so far, so in many ways Tendulkar has achieved something unusual. True, he has many feathers on his cap, but this one is a really special one. An absolutely phenomenal record by a truly phenomenal player.

Tendulkar first to 200 in an ODI



Feels good that I lasted 50 overs' | Manjrekar: 'No one deserved record more' | 'Glad I'm not bowling to him' - Warne | Stats: Utimate ODI innings | Six of the best

	Sachin Tendulkar: "Since I was timing the ball well, I could be more aggressive and put pressure on the bowlers" © Associated Press
Related Links The Short Stuff : 'Glad I'm not bowling to him' Bulletin : Flawless Tendulkar 200 gives India series Audio: 'No one deserved record more than Tendulkar' Players/Officials: Sachin Tendulkar Matches: India v South Africa at Gwalior Series/Tournaments: South Africa tour of India Teams: India | South Africa

Sachin Tendulkar, who broke the record for the highest individual ODI score, overtaking Saeed Anwar and Charles Coventry on his way to the format's first double-hundred, has said his ability to bat the entire 50 overs was a testament to his fitness after having played the game for more than 20 years.

"It feels good that I lasted for 50 overs, a good test of my fitness. I'd like to bat another 50 overs at some stage and see that the fitness level doesn't drop," Tendulkar said after his effort helped India take a unassailable 2-0 lead in the series. "The ball was coming onto the bat and I was striking the ball well. So when everything falls into its place, it feels nice. It was one of the innings where I felt I was moving well. Since I was timing the ball well, I could be more aggressive and put pressure on the bowlers."

Tendulkar, while dedicating his feat to the people of India, credited coach Gary Kirsten for the team's success in both forms of the game after the debacle in the World Cup in the Caribbean. "I've enjoyed various challenges; after the 2007 World Cup things have looked different and I'm enjoying the game," he said. "The credit also goes to Gary [Kirsten], he has really held the team beautifully. It's about togetherness and playing for each other. You see during the practice sessions that Gary himself trains as hard as anyone else, or probably harder than anyone else as he's the one giving us practice all the time."

Tendulkar said he sensed an opportunity to break the record and reach a double-century when he had gone past 175 in the 42nd over. The record eventually came in the 46th over, and the 200 in the 50th. "When I was near 175-180, I thought I could get a 200 as there were quite a few overs left," he said. He added that he would prefer his achievement to be upstaged by an Indian. "I don't play for records, I play for enjoyment and play with lots of passion. That's how cricket started. I didn't start playing cricket to break all the records; it's happened along the way. The dream was to play for India and do my best.

"I don't think any record is unbreakable. Records are made to be broken. I hope that if this record is broke, it's done by an Indian."

This was India's third-highest score in ODIs, and Tendulkar said the 400-mark would not have reached if not for some big hitting by Yusuf Pathan and MS Dhoni. "I thought a target of 340-350 would be a good one, but Yusuf Pathan and MS Dhoni came in and hit the big shots and cleared the ropes consistently and helped us pass 400."

Tendulkar added that India were not relaxing despite having put up a mammoth score, for they were aware South Africa were the only team to have chased down a target in excess of 400. "This was the team that chased 434 against Australia. So we didn't get complacent and told ourselves that we had just got through the half-way stage by scoring 401. And what we did in the second half was extremely important. We were aiming at getting early wickets and putting them out of the game."

Dhoni, who witnessed Tendulkar surpass the record from the other end, said: "I think one of the best innings, you can say. It's always good to be on the other side, watching him score 200 runs. When he is tired and can't play the big shots, he was very clever to use the pace of the bowler and it's very difficult for the bowlers as they don't know where exactly to bowl."

India lost Virender Sehwag early, and Tendulkar was assisted in three sizable stands where runs came at a brisk pace, with Dinesh Karthik, Yusuf and Dhoni. "Once Viru got out, it was important to get some kind of a partnership going. They [Tendulkar and Karthik] went on with their innings, and they set a platform after which we were sure we would get 350-plus which would be a difficult target," Dhoni said. "Yusuf was sent up the order and with the talent he's got, he can be a great asset to the side."

Yusuf scored a quickfire 36 and was particularly lethal during the batting Powerplay, while Dhoni proved destructive at the death, bludgeoning 68 off 35 in a century-stand with Tendulkar in just 53 balls. "I have changed my batting a bit, but the situation demanded that kind [attacking] of innings," Dhoni said. "The ground is a small one, and we were a bit worried about the dew factor. But once they lost 3-4 early wickets, it was difficult for them to get back into the game."

For South Africa and their stand-in captain Jacques Kallis, it was a case of the basics gone wrong. "The toss was quite vital. Our basics were just weren't good enough today. We were outplayed," Kallis said. "We lost wickets at crucial stages, our basics let us down. A fantastic innings by Sachin; he took advantage of some good conditions and he played superbly. We let ourselves down in some areas."

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Src: Cricket Websites and ET

Railway Budget 2010: No whistle, no big bang

Railway Budget 2010: No whistle, no big bang

http://economictimes.indiatimes.com/railwaybudget10.cms

Railway Budget 2010: No whistle, no big bang

Railways to launch 10 new Durontos

Mamata cuts freight rates on wheat, kerosene

Rail Budget 2010: Freight lowered, AC tickets get cheaper

MOre @ http://economictimes.indiatimes.com/railwaybudget10.cms

Src: ET, Moneycontrol.com

Heard on the Street

Heard on the Street


Hedge fund stocking up on Hawkins Cookers

Shares of pressure cooker manufacturer Hawkins Cookers are gradually being accumulated by hedge fund ‘Fortunate’, say dealers. This hedge fund and another local mutual fund, are on the lookout for a sizeable stake in the company, they say.

The company’s topline has been growing at a compounded annual rate of 20% over the past five years and has paid dividends consistently. Available at a price-earnings multiple of 11 times last year’s earnings, dealers say low liquidity is what has been keeping institutional investors at bay. The stock closed at Rs 690, down 3% over the previous close on low volumes.

Dealers may gain from exchange war

It is turf war at its very best. A leading stock exchange which recently advertised about its ‘powerful real time trading terminal’ on its website has fired a salvo at its competitors on the ground that it is more cost-effective. The buzz on D-Street is that the advert, which has drawn comparisons between its ‘free of cost trading terminal’ with that of a leading terminal in the market based on an instance of ‘100 user’ licences for 12 months,” alludes to a bourse that is waiting in the wings.

Even as there are rumblings of ‘unfair’ trade practices by the latter, the end users of this product (in this case the dealer community), are of the view that this kind of price competitiveness will serve to bring down costs across the marketplace.

Bulls raring to go on Bharti Airtel

Despite a market-wide ‘sell’ call, shares of Bharti Airtel is witnessing genuine buying interest from seasoned players. Apart from a couple of top-notch mutual funds, Rar(e)ing Bull’ along with his old friend Old Fox and a ‘gifted’ merchant banker are said to accumulating shares of the telecom firm. The trio is of the view that pessimism over Bharti’s proposed acquisition of Zain’s African assets has been overdone.

Funds make a beeline for Bajaj Holdings

The sharp fall in shares of Bajaj Holdings seems to have prompted funds to take a positive view on the stock. Reliance Capital picked up 11.6 lakh shares at Rs 550 apiece on Monday. Market sources attributed the fund buying to a possible reshuffling of portfolio in favour of stocks that look attractively valued after the recent correction.

Contributed by Apurv Gupta, Shailesh Menon, Vijay Gurav & Deeptha Rajkum ar

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Src:ET

Heard on the Street

Heard on the Street


Tata Steel back on bears’ radar

Bears are learnt to be having another go at the Tata Steel stock, despite having been caught on the wrong foot by better-than-expected quarterly numbers. Many of the traders, who had covered up their short positions last Wednesday, are said to have built up fresh ones on Friday, betting on a near-term downtrend in the stock. While the latest set of quarterly numbers came as a pleasant surprise, leading brokerage firms are divided on the outlook for the stock.

Those bullish on the company are expecting a decent recovery in demand for steel in the European market, while those bearish on the stock feel an improvement in the European operations will be much slower, because of sluggish demand. Tata Steel shares ended the day at Rs 572, up 1.7% over the previous close.

Party may be over for auto cos

Apprehension over an imminent hike in excise duty has resulted in most fund houses reducing their investments in stocks of automobile companies recently. According to analysts tracking the sector, the party for auto companies is drawing to a close over growing apprehensions of a roll-back in stimulus package, a spike in raw material costs and rise in consumer loan rates.

There is talk that with demand being robust, the government will increase excise duty on passenger vehicles between 2% and 4%, which will shave-off profit margins by a good measure. The government had reduced excise duty from 12% to 8% in December 2008. Rising costs of input materials like aluminium, steel and rubber will upset the pricing flexibility of auto manufacturers, say analysts.

Punters take a shot at Renuka Sugars

Traders, with long positions in shares of Shree Renuka Sugars had some anxious moments on Monday. Many brokers had recommended a trading buy on the stock soon after the company’s announcement to buy a majority stake in a Brazilian sugar firm for Rs 1,530 crore. But, the stock opened lower and stayed there for some time, forcing the traders to unwind their long positions.

According to brokers, a few operators managed to spark some panic among these traders by selling aggressively to create a perception that the deal would impact the company’s finances. They relied on the recent trend in large overseas acquisitions, where the event followed a sell-off in the stock of the buyer company. Within an hour into the trading session, these operators started covering their short positions, thereby leading to a sharp rebound in the stock.

Contributed by Nishanth Vasudevan, Santosh Nair & Shailesh Menon


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HDIL, SBI, Piramal Healthcare, Educomp Solutions

ITC

PFC

Cement Sector

United Bank of India IPO Review

IRB Infrastructure Developers

Src: ET, Dp Blog

Two Sites

http://pivottrading.50webs.com/pivot/pivot/elliot.html



http://www.niftystockpivot.blogspot.com/



Use these Blogs/Webs for Your Technicals

Key support at 4675, resistance at 4930

Key support at 4,675, resistance at 4,930


The market topped out at Nifty 4,929 points before sliding into another downtrend. The week closed with marginal net changes. The Nifty was last seen at 4,844.9, for a week-on-week gain of 0.4 per cent. The Sensex was up 0.2 per cent at 16,191. The Defty rose 0.5 per cent due to some rupee strengthening.

Breadth and background indicators were poor. The BSE 500 was down 0.1 per cent and the Midcaps were down 0.4 per cent while the Nifty Junior was down 0.5 per cent. Advances were outnumbered more than 4:1 by declines. Volumes were low and many smaller stocks weren't traded at all. The FIIs were moderate buyers while domestic institutions were net sellers.

Outlook: The market is in another short-term downtrend and it is likely to test support between 4,650 and 4,750 again. In all probability the next 5-10 sessions will see range-trading between 4,650 and 4,950 with a fair amount of intra-day volatility. We will get a clearer picture of the direction of intermediate and long-term trends over the next week.

Rationale: The short-term signals are negative and the market is not yet oversold enough to trigger a technical bounce on Monday. The last bottom was 4,675 on February 8. That was just above the 200 Day Moving Average, which suggests the long-term bull market is still intact. If the next bottom is at, or above 4,675, the pattern of higher lows would suggest that the intermediate downtrend, (which is now in week 6), is changing. A close below the 200 DMA (between 4,670 and 4,720 depending on calculation mode) would, on the other hand, suggest the long-term trend has gone bearish.

Counter-view: There is bound to be some short-covering and speculative buying immediately pre-Budget in settlement week. If the market does climb past 4,929 on the upside, we will have a pattern of higher highs, which would again signal an improving intermediate trend. The market is unlikely to “make up its mind” before the Budget so, range-trading between roughly 4,650 and 4,950 seems the most likely pattern until settlement.

Bulls and Bears: Most sectors fell last week and stocks outside the F&O ambit suffered from lack of liquidity as well. Trader should stay out of all but the largest scrips in this situation. Metals and realty were especially badly affected by selling. Sugar also saw a lot of selling. Telecom was hard-hit by a combination of poor quarterly results and Bharti's Zain deal, which was considered cause for selling by many operators.

Banks and IT were outperformers, with the Bank Nifty and CNXIT indices both up by over 1 per cent. But both sectors looked weak by Friday. There was some defensive buying in pharma and some speculative buying in energy stocks.

As things stand, a lot of pivotal scrips are sitting close to critical supports. Given the poor breadth signals, the chances are, some will crash. In other cases, profit-booking and renewed buying could trigger a bounce but that is more likely to occur close to settlement.

MICRO TECHNICALS

Bharti Airtel
Current price: Rs 278.80
Target Price: Rs 255

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The stock has broken key support at Rs 300 on heavy selling and could be heading for a multi-year low at around Rs 255. There is some support at Rs 275-280 and again at Rs 265. Keep a stop at Rs 285 and short. Cover 50 per cent of the position at Rs 265 and reset the stop loss to Rs 270. Clear the position at Rs 255.

SBI
Current price: Rs 1,905
Target Price: Rs 1,850

---

The stock has been sold down to a critical support. If SBI closes below Rs 1,900, it will fall to Rs 1,850 and maybe lower, to Rs 1,800. Keep a stop at Rs 1,920 and short. Increase the position below Rs 1,900. Book 75 per cent profit at Rs 1,850 and reset the stop to Rs 1,860 with a new target of Rs 1,800.

Bharat Forge
Current price: Rs 243.65
Target Price: Rs 265

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The stock has been sold down to a strong support. It has the potential to bounce back till around the Rs 265 level. Keep a stop at Rs 240 and go long. Book partial profits at Rs 255 and reset the stop loss till Rs 250. Clear the position at Rs 265.

HDIL
Current price: Rs 302
Target Price: Rs 320

---

The stock has found firm support at the current price and it could easily make a technical recovery till the Rs 320 mark. Keep a stop at Rs 295 and go long. Book partial profits at Rs 314 and reset the stop to Rs 310. Clear the position above Rs 320.

(The target price and projected movements given above are in terms of the next five trading sessions unless otherwise stated.)

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Smart Portfolios see marginal losses 22-FEB-10 The Smart Portfolios saw marginal losses a week ahead of the Union Budget.

Markets at a glance 22-FEB-10 Markets managed to post modest gains after witnessing bouts of volatility throughout the week driven by global factors.

Analysts' corner 22-FEB-10 Hindalco’s subsidiary, Novelis, reported strong set of numbers for December 2009 quarter.

Bias is negative 22-FEB-10 Traders should keep a target range of 4,600-5,000 for the settlement.

Key support at 4,675, resistance at 4,930 22-FEB-10 Short term downtrend in force.

The sugar decay 22-FEB-10 Shorting sugar really or metaphorically is possible and healthy.

On a strong wicket 22-FEB-10 Given the track record, strong order book, growth opportunities and reasonable valuations, Man Infra’s IPO could deliver healthy returns.

Electrifying prospects 22-FEB-10 A robust track record, healthy outlook and reasonable pricing make REC’s offer attractive.

Regional player 22-FEB-10 While UBI’s small size and insipid financials do not excite, its IPO pricing is attractive.

Calling Africa again 22-FEB-10 Bharti Airtel’s move to acquire Zain’s Africa-based telecom operations could put pressure on the former’s resources in the short term.

Tightrope walk 22-FEB-10 Maintaining a balance between growth and fiscal discipline will be the Finance Minister’s key challenge.

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Analysts' pick: Sunteck Realty, Colgate Palmolive, BoI, Indraprasta Gas

Infrastructure

BPCL

Budget Preview - Feb 22 2010

Mahindra and Mahindra

Tata Steel

Reliance Industries

Weekly Newsletter - Feb 22 2010

Src: Business-Standard, ET, DP Blog etc

Wkly Tech Analysis: Free fall seen below 15900

Wkly Tech Analysis: Free fall seen below 15,900

The markets after showing signs of recovery pared gains towards the end of the week. It still settled with a marginal gain, as global factors came into play. The Indian market firmed up mid-week after a subdued start, while other major global markets were closed. However, after the resumption of trading abroad, weakness was seen especially on Friday, which saw our markets pare almost the entire gain.

The Sensex after touching a low of 16,011, rallied to a high of 16,481. It slipped later and settled with a marginal gain of 39 points at 16,192. Other major global markets such as the US, Hong Kong, Japan and China were shut during the week for a day or two. In fact, China and Taiwan were shut throughout the week.

Among the index stocks — Hindalco surged over 8 per cent to Rs 150, and HDFC Bank rallied 6.5 per cent to Rs 1,700. Tata Steel, HDFC and Hindustan Unilever were the other major gainers. On the other hand, Bharti Airtel slumped 11.5 per cent to Rs 278. Reliance Infrastructure, DLF, Reliance Communications, Reliance and Sterlite were the other prominent losers this week.

Given the fact that we are headed to a week which will be dominated by the expiry of the February derivatives series and the Union Budget, predicting the direction of the market will be all the more difficult. One needs to be prepared for high volatility and keep an eye on key levels. The best strategy is to stay put till uncertainties vanish.

The Sensex is currently below its short-term moving average both on daily (20-day) and weekly (20-week) charts. The short-term moving average on the daily chart is at 16,240, while the short-term weekly moving average is at 16,784. The bias will remain down as long as the index trades below its short-term weekly moving average.

Although the Sensex has near support at 16,000, one needs to carefully watch 15,900 as a key level, for a break below 15,900 could trigger a free fall up to 15,300 at least.

The NSE Nifty moved in a range of 146 points, from a low of 4,784, the index moved up to a high of 4,930, and finally closed with a gain of 18 points at 4,845.

Next week, the Nifty is likely to face resistance around 4,900-4,918-4,935, while it may seek support around 4,813-4,772-4,755.

The daily short-term moving average of the index is at 4,854, and the short-term weekly moving average is at 5,001. The long-term (200-day) moving average on the daily chart is at 4,719, and the weekly long-term moving average at 4,200.

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TECHNICAL ANALYSIS: Index Outlook: Awaiting Budget day gyrations
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TECHNICAL ANALYSIS: Sizzling Stocks
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PUBLIC OFFER: REC — FPO: Invest
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STOCKS: Gujarat State Petronet: Buy
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MUTUAL FUNDS: HDFC Equity Fund: Invest
Investors with a long-term perspective can consider buying the units of HDFC Equity Fund. Over a decade old, the fund boasts of not just an impressive scorecard, but also of consistent out-performance over its benchmark CNX-500, one not easy ...

MUTUAL FUNDS: Tata Life Sciences and Technology: Hold
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INSIGHT: Macro signals flash green, investors take cue
After jumping up joyfully at every scrap of economic data put out by the government throughout last year, the stock market has greeted macro-economic news with surprising apathy in recent months. Yet, there are several positive signals ...


TECHNICAL ANALYSIS: Query corner: Bhushan Steel moving sideways
Please give me your opinion on Petronet LNG purchased at Rs 76. Should I purchase more at current level or exit? Anuj Jain, ...

TECHNICAL ANALYSIS: Stock Strategy: Consider shorting SAIL, India Bulls Real Estate
India Bulls Real Estate (Rs 154.85): The stock has been in downtrend for quite sometime now. The recent fall has further pushed it closer to its crucial support level. Though the stock has a critical resistance at Rs 182, only a close above ...

MUTUAL FUNDS: Hang Seng BeES — Chance to buy into China
Credited with being the first foreign ETF in the country, Hang Seng BeES is the latest offering from Benchmark Asset Management Company. An open-ended index scheme, the Hang Seng BeES aims to provide its investors with returns (before ...

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DLF

Weekly Outlook - Feb 20 2010

Weekly Market Outlook - Feb 20 2010

Weekly Newsletter - Feb 20 2010

Weekly Watch - Feb 20 2010

Hindalco

Tata Motors

Bajaj Electricals

Bajaj Electricals

Weekly Wrap - Feb 20 2010

Dividend Yield Stocks

Budget Preview - Feb 20 2010

India Budget 2010-11 Preview

India Budget 2010-11 Preview

India Budget Preview - Feb 19 2010

Budget Preview - Feb 18 2010

Deepak Fertilizers

Man Infraconstruction IPO subscribed 6.87 times

Src: BusinessLine, Business Standard, DP Blog etc

Pre Market: Stocks to open lower on weak global cues

Pre Market: Stocks to open lower on weak global cues


MUMBAI: Equities are likely to extend losses on Friday tracking overseas declines. However, stock-specific action is expected on the back of Budget expectations. Fertilizer stocks may gain strength following the government’s decision to go ahead with the nutrient based subsidy plan.

“Nifty witnessed profit booking after seeing a 2.7% rally in the last two days. Reliance Industries which gave a positive signal in Wednesday’s session was down 3% on Thursday due to which we saw huge pressure on the Sensex. The intermediate rally which started from the lows of 4,675 is still intact unless Nifty breaks below 4,825 on the closing basis.

The daily RSI and MACD are still in a positive territory indicating that this positive uptrend will continue. Strong support is seen at 4,860-4,825 and stiff resistance at 4,920 - 4,950 levels. Nifty is currently in the tight trading band of 4950-4800 and unless we see a break of this range, markets will remain volatile with a positive bias,” said Nirmal Bang Securities.

US stocks rose for a third straight day on Thursday as investors viewed company results and manufacturing data as evidence the economic rebound will continue. Meanwhile, index futures tumbled after the Federal Reserve announced it was raising the discount rate that it charges banks for emergency loans.

The Dow Jones Industrial Average rose 83.66 points, or 0.81 percent, to 10,392.90. The Standard & Poor's 500 Index added 7.24 points, or 0.66 percent, to 1,106.75. The Nasdaq Composite Index gained 15.42 points, or 0.69 percent, to 2,241.71.

As a result, Asian stocks declined sending the Nikkei down 0.12 per cent and Topix down 0.07 per cent. Kospi dropped 0.08 per cent and Straits Times fell 0.2 per cent.

Back home, markets ended a choppy session on a weak note Thursday, taking cues from subdued global peers. Profit booking in index heavy-weight Reliance Industries put pressure on indices. Traders also took some profit home near resistance levels after a two-day rally.

Bombay Stock Exchange’s Sensex ended at 16327.84, down 101.07 points or 0.62 per cent. The index touched an intra-day low of 16287.17 and high of 16452.51.

National Stock Exchange’s Nifty closed at 4887.75, down 26.25 points or 0.53 per cent. The broader index hit a low of 4873.70 and high of 4922.05


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4800 level seen crucial for Nifty

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Heard on Street: Albula laps up Adani Power



Why are institutions so bullish on realty IPOs?

When an initial public offer (IPO) that is considered expensive gets oversubscribed, conspiracy theories usually follow the talk about the ‘real reasons’ behind the success. Such theories have been doing the rounds in the market, following the IPO success of one such developer recently. Grapevine has it that some of the leading investors in this issue were offered apartments at discounted rates to the market for subscribing to the IPO.

A robust subscription to an issue in the qualified institutional investors category is key to issuers and bankers for attracting the interest of retail investors, who usually look up to this category for cues to invest in an IPO. Such theories are not without reasons. When investors have been dumping shares of most leading developers, which has resulted in the realty index underperforming the benchmark since October, critics ask why these institutional investors are so bullish on realty public issues.

Albula laps up Adani Power as it reshuffles portfolio

The sluggish movement in Adani Power shares after the listing may have caused concern among its retail shareholders, but some investors still sense investment opportunity in the company, going by the trading pattern in the stock in the current market. On Wednesday, a

Sebi-registered FII sub-account Albula Investment Fund bought 43 lakh shares at Rs 108, around 8% higher than the price at which the company had come out with its public issue last year. According to brokers, purchases could be part of a portfolio reshuffling whereby a fund sells high-priced stock to buy a relatively cheaper one, a strategy mostly seen in volatile market conditions. Adani Power closed 1.1% down at Rs 107 on Thursday.

ICICIdirect gets go-ahead for digital KYC

Even as mutual fund distributors are grappling with the execution of the recent Sebi fiat on know your client (KYC) norms, one of the largest online distributors of mutual fund products, ICICIdirect, has been given the go-ahead for an electronically-scanned KYC. It may be recalled that mutual fund distributors had some time ago mooted a central bureau of registry for all KYC documentation.

The distributors have also been lobbying for an electronic
or digital KYC till such time a comprehensive system is in place. The rationale being that this would bring down the volume of paper in the system that would otherwise be generated if the distributors were to send a copy of all supporting documents to the AMCs with retrospective effect ie from 1999 as is the Sebi directive.

(Contributed by Nishanth Vasudevan, Vijay Gurav & Deeptha Rajkumar)


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Daily News Roundup - Feb 19 2010

Surprise on the Street!

Rural Electrification Corporation FPO

Polaris Software Ltd

ICICI Bank

Tata Steel

HDIL

Hexaware Technologies

Reliance Industries Ltd

Src: ET, DP Blog etc