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Champions of Europe and now champions of the world, Spain captured football's Holy Grail for the first time with a 1-0 victory over the Netherlands thanks to Andres Iniesta's 116th-minute strike at Soccer City.
The solitary goal came with penalties looming as substitute Cesc Fabregas played in Iniesta and the little midfielder drove emphatically across Maarten Stekelenburg and into the far corner. With this victory – their fourth successive single-goal win in South Africa – Spain became the eighth name on the FIFA World Cup™ Trophy and also the first European team to have triumphed on a different continent. For the Netherlands, who lost defender John Heitinga to a red card in extra time, there is only the heartache of another tale of what might have been after they completed a hat-trick of Final losses.
This was a match preceded by much talk of two like-minded footballing cultures, of the influence of Dutchmen like Johan Cruyff and Rinus Michels, of 'tiki taka' and Total Football. In many ways, as the first 116 minutes showed, it was also a case of the irresistible force versus the immovable object. The Dutch had won 14 straight games to get to the Final, in qualifying and the tournament proper, and Spain 15 out of 16, their only slip the defeat by Switzerland in their first game here in South Africa.
It was the Spanish found their stride first, living up to their pre-game billing as favourites. Vicente del Bosque's side dominated possession and created the early chances. With the Dutch penned inside their half, goalkeeper Stekelenburg had to make a save after five minutes, diving low to stop a Sergio Ramos header from Xavi's free-kick from the right. Gerard Pique looked poised to follow up only to be denied by a combination of Joris Mathijsen and Dirk Kuyt.
Ramos came again in the tenth minute, beating Kuyt on the right and driving in a low centre that Heitinga deflected behind. From the corner came another scare for the Netherlands. Xavi played the ball back to Xabi Alonso whose cross went beyond the far post to David Villa but the in-form No7 sliced his volley into the side-netting. After those near things, however, both defences got on top with none of the flair players on either side able to take a grip on proceedings. Instead the yellow-card count began to rise with Nigel de Jong becoming the fifth player in Howard Webb's notebook by the time the half-hour mark arrived.
With the orange sections of the 84,490 Soccer City crowd finding their voice, Bert van Marwijk's men almost gave them something to sing about from a corner in the 37th minute. Robben rolled the ball to Mark van Bommel on the edge of the box and although he failed to make a clean connection he unwittingly diverted the ball on to the unmarked Mathijsen but the defender missed his kick. As half-time approached, Iker Casillas had barely had a save to make but entering stoppage time, he had to be alert to deny Robben at his near post as a spell of Dutch pressure ended with the winger spearing in a low shot from the corner of the box.
Puyol, Spain's semi-final matchwinner, showed his aerial threat once more minutes after the restart when he rose above Heitinga and headed to the far post but Joan Capdevila failed to make contact. The game was gradually opening up and the Dutch spurned a golden opportunity in the 62nd minute when Wesley Sneijder sent Robben running clear. Casillas came to Spain's rescue, deflecting the shot behind with his right foot when falling the wrong way.
Spain coach Del Bosque had already sent on Jesus Navas for Pedro on the hour and the winger helped pick a hole in the Dutch defence in the 70th minute. Xavi sent him flying down the right into the box and when Heitinga failed to deal with Navas's low cross, the ball fell to Villa who looked odds-on to score only to see his effort deflected behind. Ramos was equally profligate after 78 minutes when he headed over a Xavi centre when unmarked, after Villa had forced another corner.
Spain were looking the more likely winners and it took Sneijder of all people to foil Iniesta with a smart tackle after his jinking run into the box. Yet Robben's pace was a persistent threat and the Oranje No11 almost embarrassed Puyol in the 82nd minute, speeding clear of the Spain defender when second-favourite to reach a through-ball. Resisting Pique's attempt to tackle too, he was foiled only by Casillas, the captain saving at Robben's feet as the Dutchman tried to round him.
Extra time began with opportunities for Spain. Xavi failed to connect when well positioned and when the ball ran to Villa, his shot went wide off an orange shirt. Substitute Fabregas then broke clear on to Iniesta's through-ball but was foiled by Stekelenburg. Mathijsen headed wide from a corner but like waves, Spanish attacks kept rolling on to the Netherlands back line and Navas was close with a shot deflected into the side-netting.
Fernando Torres replaced Villa midway through the extra period and Spain gained a man advantage four minutes later with Heitinga's dismissal for pulling back Iniesta on the edge of the box, the offence earning him a second yellow. Iniesta would not be denied, however, and his fine late strike put Spain into the history books and left a Dutch dream shattered.
2010 FIFA World Cup™: Final- Add to iGoogle | |||||||||||||||||||||||||||||||
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ECSTASY
The Spanish team pose for photographers with the World Cup trophy. (AP Photo)
STOCKS: Mahindra and Mahindra: Buy
Investors with a long-term perspective can consider an exposure in Mahindra and Mahindra (M&M). The company ended FY-10 on a strong note, posting a growth of 40 per cent in revenues and a whopping 120 per cent in profits over the ...
STOCKS: Lupin: Hold
Shareholders can remain invested in the stock of Lupin. Though the stock price has more than doubled since the last ‘buy' recommendation in August 2009, the sustained traction in its formulations exports and an attractive pipeline ...
STOCKS: Bank of Baroda: Buy
Investors with a two-year investment horizon can consider fresh exposure to the stock of Bank of Baroda. The bank may continue to grow at higher-than-industry average rate (on the loan book front) and post strong profit growth in relation to ...
TECHNICAL ANALYSIS: Sizzling Stocks: Idea Cellular (Rs 66.8)
Idea Cellular turned red hot on Friday following the earnings upgrade by investment bank Credit Suisse. The bank upgraded the stock's rating to outperform from underperform and raised its target price. The stock advanced 13.3 per cent on ...
TECHNICAL ANALYSIS: Pivotals: Reliance Industries (Rs 1,055.8)
Since June 14, RIL has been trading sideways in a narrow band between Rs 1,050 and Rs 1,100. Last week's movement was with in this range and the stock witnessed trivial loss of Rs 12 for the week. The volume traded was below average. ...
A late surge in US stocks, allowed the Dow to post a back-to-back triple digit rally.
The Dow Jones Industrial Average added 121 points at 10,139. The S&P 500 gained 10 points at 1070, while the NASDAQ finished up by 16 points at 2175.
That sets the tone for our markets to open higher in the morning but it is going to be a litmus test for the markets. 5350-70 regions will be full of booby traps.
US markets were bolstered by a larger-than-expected drop in initial weekly jobless claims and a buoyant June retail sales data (Same–store sales). Obviously the sales look better because two holidays, the Memorial Day holiday and The Independence Day holiday sales have been added in June, which were not a part of the June sales last year. This apart, the Same-store sales numbers have to be taken with a pinch of salt. In one of the weekend articles, we will explain why.
The Bank of England kept its base interest rate at a record low of 0.5% for the 17th consecutive month and continued to leave its asset-purchasing program on hold. The European Central Bank also held rates steady.
Earlier in the day, International Monetary Fund raised its 2010 global growth forecast to 4.6% from 4.1%. The IMF said that while economic recovery will likely be faster than expected, Europe's debt crisis could stall the rebound.
The IMF also raised India’s economic growth forecast for 2010 to 9.4%. IMF’s forecast has been received well because GDP growth during the March quarter was only 8.6%. It implies that growth in the rest of the quarters will be much higher.
Today being a Friday, the bulls will like the week to close on a strong note. But a crossing of the important levels like 5366 looks rather premature. The markets will like to read the hand out by Infosys first, before it makes up its mind. For that we will have to wait till next week.
The bottom line is, unless the Nifty crosses the 5400 humps, don’t be in any hurry.
Godrej Industries and Gail look better placed for the day.
Disclosure : No holdings or trading positions in stocks mentioned or recommended to clients
Src: HDFCSEC
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Heard on the Street: Top insurer sells shares in D-Street favourite SBI
State Bank of India (SBI) remained a favourite among investors on Thursday, despite concerns over hardening interest rates.
According to the market buzz, there was some churn in the stock among foreign institutional investors, driving up the stock by 2.3% to Rs 2,356.75 on higher-than-average volumes in a firm market on Thursday.
But domestic institutions took a contrarian view on the stock, as it is felt that upsides are likely to be limited from these levels. Brokers said an insurance major was a seller in the stock on Thursday.
It is also speculated that the stock has been accumulated by a group of operators as a trading bet in the near-term. The stock is expected to outperform other bank stocks, brokers said.
Vadilal Inds gains 13% as takeover talk triggers rally
Shares of Vadilal Industries, a dairy product and food-processing company, have risen over 40% in less than two weeks, on market talk that the company could be a possible acquisition target for any large FMCG player looking to consolidate its position in the sector.
On Thursday, the stock rose 13% to close at Rs 144.95, after hitting a 52-week high of Rs 149 intra-day. Vadilal Industries’ revenues have improved steadily over the past few years, helping it gain a decent market share in milk and dairy products segments.
Dealers tracking the counter rule out the possibility of a hostile takeover, since the promoters own 61% in the company.
The company reported an earnings per share of Rs 8 for FY10. While the share price has more than trebled over the past one year, institutional investors have not shown any interest so far.
(Contributed by Nishanth Vasudevan & Vijay Gurav)
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May go to 4200 if Nifty breaks 4900: Daryl Guppy
SHANGHAI: Investors should sell bonds and buy commodities like silver and rice as a “refuge” as the world economy may continue having problems, Jim Rogers, chairman of Rogers Holdings said.
“Bonds are not a good place to invest in. You should own commodities because that’s your only refuge,” said Mr Rogers, who predicted the start of the global commodities rally in 1999. Gold has gained 8.3% this year, leading advances in precious metals, as investors seek haven assets to protect their wealth amid concerns that global economic recovery will falter. Still, commodities overall capped their worst quarter in more than a year on investors’ concern that slower growth from China to the US will sap demand. The best place to be is in commodities and other natural resources, including precious metals like silver, platinum and palladium as supply shortages are already developing, said Mr Rogers, who co-founded the Quantum Hedge Fund in 1970. Gold prices will rise to more than $2,000 per ounce, said Mr Rogers, without giving a time-frame. Bullion for immediate delivery declined 0.4% at $1,187.85 an ounce. It reached a record $1,265.30 on June 21. While gold has been trading at an all-time high, silver remains 60 to 70% below its peak and is a better investment, he said. Silver reached an all-time high of $50.35 in New York in 1980. Silver for immediate delivery fell 1% to $17.6413 an ounce. Platinum dropped 0.6% to $1,507.68 and palladium declined 1.2% to $433.35. Still, agricultural commodities are better than metals as prices are “very depressed,” he said, pointing to sugar which is 75% below its all-time high in 1974. Raw sugar for October delivery slid 1.2% to 16.49 cents a pound on ICE Futures US in New York. It reached a record of 66 cents in November 1974. “Not many things are 75% cheaper that 36 years ago, but that’s true of sugar,” Mr Rogers said. “Agriculture commodities are desperately cheap compared to 20, 30, 40 years ago.” Rice futures on June 30 touched $9.55, the lowest price since October, 2006, on rising production and declining demand. The contract for September delivery gained 0.7% to $9.935 per 100 pounds on the Chicago board of trade in Shanghai. |
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Reliance Capital
Current Price: Rs 760
Target Price: Rs 785
The stock appears to have bottomed out at least temporarily and should see an uptrend over the next two or three sessions. The initial targets would be in the range of 785-790, though the closing price today may not be able to sustain above 785. Keep a stop at 752 and go long. Increase the position between 765 and 768. Start booking profits above the 785-mark.
Sesa Goa
Current Price: Rs 347
Target Price: Rs 330
The stock had an aborted uptrend on Tuesday, hitting resistance at 355. It has a downside support till around the 340-mark. If 340 is broken, the stock could fall till 330 — but this will probably take more than one session. Keep a stop at 350 and go short with an initial target of 340. If you can hold overnight, book partial profits at 340 and hold the residual position with a new target of 330 and a reset stop loss of 345.
DLF
Current Price: Rs 279
Target Price: Rs 265
The stock has broken a key resistance at the 280-281 mark. It has a potential target in the 260 zone, but has supports at 265 and at 272. It is likely to break the first support at 272 and test the 265 support. Keep a stop at 285 and go short. Increase the position between 270 and 272 and reset the stop loss to 275. Start booking profits between 265 and 267.
The target price and projected movements given above are in terms of the next one trading session unless otherwise stated
BHARTI AIRTEL
Current price: Rs 267.5,
Target price: Rs 275
The stock seems to have made a mini upside breakout and it should have a target of Rs 275 on Tuesday. Keep a stop at Rs 265 and go long. Add to the position between Rs 269 and Rs 270. Start booking profits above Rs 274. If the scrip can close above Rs 275 on Wednesday, it will have a potential upside till Rs 285. This is worth bearing in mind if you can hold a futures position. On the downside, if support at Rs 263-265 is broken, the scrip could drop till Rs 255.
ONGC
Current price: Rs 1,285,
Target price: Rs 1,270
The stock is reacting after testing Rs 1,350 on the upside. It has hit what should be reasonable support at the first Fibonacci level. The pattern suggests a fall till Rs 1,270 (roughly the next Fibonacci level). The futures (Rs 1,295) is at premium to spot. Short the future with a stop-loss at Rs 1,305 and a target of Rs 1,270. Increase the position below Rs 1,285 and clear below Rs 1,270.
TATA STEEL
Current price: Rs 471,
Target price: Rs 460
The stock is still in a downtrend. The futures (Rs 464) is at discount to the spot and a target projection to the Rs 450 level can be made. In this case, it may be better to short the spot, though the position can't be rolled over. The one-session target could be about Rs 460. Take a short position with a stop-loss at Rs 477 and increase it below Rs 468. Start taking profits below Rs 462.
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Src: ET and Etc
5 Jul 2010, 0705 hrs IST
5 Jul 2010, 0415 hrs IST
5 Jul 2010, 0347 hrs IST, SKANDITA AGRAWAL
5 Jul 2010, 0327 hrs IST, SKANDITA AGRAWAL
5 Jul 2010, 0248 hrs IST, Jigar Desai & Karan Sehgal
5 Jul 2010, 0205 hrs IST, Abhineet Singh
5 Jul 2010, 0148 hrs IST, Parul Bhatnagar
5 Jul 2010, 0129 hrs IST, Ramkrishna Kashelkar
5 Jul 2010, 0116 hrs IST, Rajesh Naidu