06 December 2010

Market , Stock Reports for the Week












TECHNICAL ANALYSIS: Index Snapshot: Sensex pauses at 20K resistance
The Sensex did a volte-face from around 19,000 last week and rocketed 830 points to end the week 4.3 per cent higher. While the bellwether rallied, surpassing resistances at 19,502 and 19,776, it started losing its momentum on Thursday ...


STOCKS: Yes Bank: Buy
Investors with a two-three year horizon can consider fresh exposure to the stock of Yes Bank. With a gain of 23.2 per cent, the bank has underperformed BSE Bankex over the last ...



STOCKS: Polaris Software Labs: Buy
Investors with a two-year horizon can buy the shares of Polaris Softwar
e Labs (Polaris), a company catering to the ...



STOCKS: Consolidated Construction Consortium: Book Profits
Slowing growth, prolonged working-capital cycles, margin pressure and delays in projects suggest a tepid few quarters ahead of construction contractor, Consolidated ...

  Investors building a portfolio of funds can consider adding HDFC Equity to their ...




Investors can retain their units in Kotak-30 Fund, based on its five-year performance. The fund's three-year performance record, however, slipped when compared with peers. Lack of flexibility in entering stocks that offered opportunities, ... 





TECHNICAL ANALYSIS: Pivotals: Reliance Industries (Rs 1,006.4)
The stock rebounded from Rs 960 last week by gaining 4.5 per cent. If the stock stays above Rs 996, it could head higher to Rs 1,035 (200-day moving average) and then Rs 1,050 in the days ahead. Short-term traders should tread with caution as ...




TECHNICAL ANALYSIS: Sizzling stocks: BGR Energy Systems (Rs 746.7)
BGR Energy Systems recouped its 20 per cent tumble during the last week of November by skyrocketing 30 per cent last week. This up move has been accompanied with extra-ordinary weekly volume. The stock is currently facing significant ...




TECHNICAL ANALYSIS: Covered call on Nifty
Index Strategy. CNX Nifty's successful bounce back from the lows seen in the previous week does bring in a sense of confidence. However, traders may do well to rein in their enthusiasm till such time the bellwether breaks past 6,070, its ... 





 Src: MYiris, Businessline

28 November 2010

Market Reports




TECHNICAL ANALYSIS: Index Outlook: Market's fate hanging in balance
 Irrationality was to the fore once again last week, this time sending stocks spinning down a deep chasm. Any stock with a real-estate and banking tag or remotely connected with the so called ‘loans for bribes' scam was battered out ...


IPOS:
MOIL India — IPO: Invest at cut-off
Investors could consider applying to the IPO of Indian manganese producer MOIL India, which appears attractively priced given its quality ore reserves, low operating costs and booming domestic market. At the higher end of the offer price ... 




PUBLIC OFFER:
The Shipping Corporation of India – FPO: Invest
Investors with a long-term perspective of at least two-three years can consider applying at cut off in the follow-on public offer (FPO) of The Shipping Corporation of India (SCI), the country's largest shipper (35 per cent share) in terms ... 



STOCKS:
Everest Kanto Cylinder: Buy
Investors can consider phased exposure to the stock of Everest Kanto Cylinder, a high pressure cylinder manufacturer. At the current price of 97, the stock trades at 11 times its expected consolidated per share earnings for FY-12. The jum


TECHNICAL ANALYSIS: Query Corner — Aurobindo Pharma reversing from life-time high
Could you please outline the medium and long-term outlook of Indian Overseas Bank? ... 



TECHNICAL ANALYSIS: Pivotals: Reliance Industries (Rs 962.5)
RIL declined 3.4 per cent last week, continuing its short-term downtrend. In line with our expectation, it has slipped below an important support level of Rs 990 and is heading towards our initial price target of Rs 950, which is ...



TECHNICAL ANALYSIS: Sizzling stocks: LIC Housing Finance (Rs 932.1)
LIC Housing Finance that was at the eye of the ongoing scam plunged 28 per cent last week. Moreover, it has plunged 30 per cent so far in November. The stock's long-term up trendline that was in tact since March 2009 low of Rs 178, ...



TECHNICAL ANALYSIS: Consider shorting PowerGrid, IDFC
The outlook for PowerGrid has turned negative. As long as PowerGrid rules below Rs 109, it would face stiff resistance. The stock finds an immediate resistance at Rs 103 and support at Rs 95. A close below Rs 95 could weaken it to Rs 84 ... 



 Sizzling stocks: LIC Housing Finance (Rs 932.1)



LIC Housing Finance that was at the eye of the ongoing scam plunged 28 per cent last week. Moreover, it has plunged 30 per cent so far in November. The stock's long-term up trendline that was in tact since March 2009 low of Rs 178, was decisively broken last week. After recording an all-time high of Rs 1,496 on September 29, the stock changed direction triggered by negative divergence displayed in the daily relative strength index. Since then, it has been on a medium-term downtrend.

While declining, it breached a key support at Rs 1,300 by tumbling 18 per cent on November 24 with good volume. The stock is hovering well below its 50 and 200-day moving averages. It is, however, trading just above significant long-term support level at Rs 900. 
The daily indicators have entered oversold territories and the stock is hovering well below the lower boundary of Bollinger Bands implying oversold state, a minor corrective rally is possible up to Rs 1,000 or Rs 1,060 in the near-term.
Key resistance above Rs 1,060 is at 1,200. Strong move above Rs 1,250 is required to mitigate the downtrend. Conclusive weekly close below Rs 900 will pull the stock lower to Rs 800 and then to Rs 700 in the medium-term.  


HCC (Rs 40.1) 
The Hindustan Construction Company stock too collapsed last week, declining 29 per cent. From January 2010 peak of Rs 81, the stock has been on an intermediate-term downtrend, which accelerated last week. It broke through the long-term support at Rs 50 in the previous week and is hovering well below its 200 and 50-day moving averages. However, the stock is currently testing its longer-term key support around Rs 40. Strong breakthrough of this support will drag the stock down to its immediate support at Rs 35 and next at Rs 20 in the medium-term. A rebound from the support can be a corrective up move and lift the stock higher to Rs 45 and then Rs 50. As long as it trades below Rs 67, the intermediate-term downtrend remains in place. — Yoganand D.




















Src: Myiris, NCP blog, Businessline and etc

27 November 2010

SENSEX = KOREAS WARLIKE SITUATION + LIC HSG SCAM

Sensex continues to bleed on loan scandal

 

MUMBAI: A benchmark index of Indian equities markets shed 449 points this week, taking the last three weeks' loss to 1,868 points as 2G spectrum allocation scan and housing loan bribery scandal dampened sentiments and weighed heavy on the markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) declined 2.29 percent or 448.83 points to 19,136.61 points in the weekly trade.

Indian equity markets have closed deep in the red for the third straight week. The benchmark Sensex shed 1,868 points from its all-time closing high of 21,004.96 points reached on special Diwali trading session Nov 5.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 5,751.95 points, down 2.63 percent in this week's trade.

Nifty has declined 560 points from its all-time closing high of 6,312.45 points touched on Muhurat trading (a special session meant to pay obeisance to Goddess Lakshmi - the Hindu deity of wealth and prosperity) Nov 5.

A series of scams weighed heavy on the markets. The country's official audit agency Comptroller and Audit General said early this month the telecom minister arbitrarily allocated 2G spectrum licences, resulting in a loss of thousands of crores of rupees to the government exchequer.

The CBI Wednesday arrested senior officials from LIC Housing Finance , LIC, Bank of India, Central Bank of India and Punjab National Bank for allegedly accepting bribes to extend loans to realty companies.

Also on the CBI's scanner are a number of realty companies which were beneficiaries of such loans.

As a result, realty stocks were hammered this week.

All the sectoral indices also closed deep in the red this week, led by a sharp plunge in realty stocks. The BSE Realty index dived nearly five percent Friday after the country's top investigative agenc, the Central Bureau of Investigation (CBI), arrested senior officials of financial institutions and some real estate developers on bribary charges.

Selling pressure was across the board as 2,508 scrips closed in the red Friday, compared to only 485 stocks advancing, while 79 stocks were unchanged.

Major Sensex losers on the last trading day of the week, included Jaiprakash Associates , down 8.04 percent at Rs.105.75; Reliance Infra, down 6.59 percent at Rs.850.25; Reliance Com, down 5.51 percent at Rs.130.30; and Sterlite Industries , down 3.62 percent at Rs.161.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors sold scrips worth $116.6 million Friday.  

 ***********************************

 Bull market may end in 2-3 months: Shankar Sharma

 

Bear of the week: Stock that tumbled 30% in 3 days   


Src: ET and MC

25 November 2010

24 November 2010

Sensex ends 232 pts lower on housing finance scam

Housing scam: CBI arrests top officials of PSU banks, FIs

4

MUMBAI: The Central Bureau of India (CBI) on Wednesday arrested top officials from some leading PSU banks and public/private financial institutions. The CBI said that the officers of Bank of India, Central bank of India, Punjab National bank and LIC HF were receiving illegal gratification for facilitating loans. Executives at Money Matters were arrested for broking bribery deals . Five separate cases have been registered and investigations are on, the leading investigation agency said in a press conference. It hasn't put up a figure to the size of the scam.

The biggest arrests included the CEO of LIC Housing Finance. The CMD of Money Matters Rajesh Sharma was also arrested. Executives from PNB, Central Bank of India, Bank of India were arrested in these raids. Among other arrests were two executives at Money Matters.

Earlier in the day, shares of LIC Housing Finance plunged 18.32 per cent to Rs 1068.55 on the BSE. It touched a low of Rs 1031.10 in trade. Shares of Central Bank of India also tanked on the same issue. The scrip fell 8.02 per cent to Rs 197.90 on the BSE. It touched a low of Rs 191.40 in trade.

Shares of Money Matters Financial Services also faced selling pressure. The scrip tanked 19.99 per cent to intraday low of Rs 531.20 on the BSE on rumours of a raid.