THE MUCH AWAITED PUBLIC ISSUE FROM L&T GROUP IS FINALLY ANNOUNCED....
PLEASE FIND THE DETAILS OF THE SAME BELOW...
L&T Finance Holdings Ltd IPO
BOOK RUNNING LEAD MANAGERS:
JM Financial Consultants/Citigroup Global Markets/HSBC Securities and Capital Markets/Barclays Securities/Credit Suissue Securities/Equirus Capital.
Syndicate Members: JM Financial Services P. Ltd/SMC Global Securities Ltd/ Karvy Stock Broking Ltd/IDBI Capital Market Services Ltd.
Issue Period: July, 27 to July, 29, 2011
Issue Size : Rs. 1245 cr
Price Band: Will be announced two working days prior to the issue opens
Lot Size: Will be announced two working days prior to the issue opens
Employee Discount : Will be announced two working days prior to the issue opens
Registrar: Sharepro Services (India) Private Limited
QIB Book: 50% of Net issue size
HNI Book: 15% of Net issue size
Retail Book: 35% of Net issue size
Invest through ASBA
Watch this space for More iformation in the nere future....
Covering all the Daily Updates From The Indian Stock Market To Help You In Investing To Get Maximum Gains.
Monday, July 18, 2011
Tuesday, March 08, 2011
Introduction to Futures
A future contract is an agreement between two parties to buy or sell an underling asset at a certain price after a certain time frame. The time frame generally ranges from 1 month and beyond. Futures market is a remedy to the problems countered by the market players while participating in the forwards market. Future contracts are more standardized in nature and are traded on an exchange, compared to the forwards contract. The standardized contracts consist of an underlying asset with a standard specification like quality, quantity, location of settlement, and a definite time frame.
The noble laureate , 1990, Mr. Merton Miller says that financial futures represent the most significant financial innovation of the last twenty years.
To overcome the pertinent problem of ‘Credit risk’ in the forward contracts, a group of businessmen in Chicago formed the Chicago Board of Trade (CBOT) in 1848 with an intention to provide a centralized location to know the buyers and sellers. In the year 1865, CBOT went one step further and listed the first exchange traded financial derivatives called Futures Contracts. In the year 1919, a spin-off of the CBOT- Chicago Butter and Egg Board was recognized to trade in futures. Its name was later changed to Chicago Mercantile Exchange (CME). Both the CBOT and CME are recognized as the two largest Financial Exchanges of the modern era.
The ‘ Father of Financial Futures’, Mr LEO Melamed, then chairman of CME, was instrumental in launching the first financial derivatives in the year 1972, in the form of currency futures through the International Monetary Market (a division of CME). During the mid 80’s financial futures became most actively traded derivative instruments. In the recent years, market for financial derivatives has grown by leaps and bounds. In the class of equity derivatives, futures and options on stock indices have gained more popularity then individual stocks.
Futures Terminology:
To understand Futures one needs to be familiar with the terms given below:
a) Spot Prices: The price of the underlying asset in the market currently.
b) Futures Price: The anticipated price at which participants buy/sell the futures contract.
c) Contract Cycle: The term of the contract. Currently, India the exchange traded futures have a cycle like 1 month, 2 month and 3 month and terms generally used for the contract are Current Month, Near Month and Far Month, respectively. The contracts at NSE expire on the last Thursday of every month and a new contract bearing a 3 month expiry is introduced.
d) Expiry Date: This is the last date on which the contract is traded. Post this date the contract ceases to exist.
e) Contract Size: This is also called as the LOT SIZE of the contract. It signifies the standard quantity of the assets to be delivered under one contract.
f) Basis: It is defined as the Future price minus the spot price. In a normal market, if the future price exceeds the spot price it is assumed that the basis is positive and the underlying can reap better profits on the expiry and vice versa.
g) Cost of Carry: The relationship between the spot and the future price can be summarized in the terms of Cost of Carry. This measures the storage cost plus the interest that is paid to finance the asset less the income earned on the asset.
h) Initial Margin: It is the amount that must be deposited in the account at the time of entering (creating position) the future contract.
i) Marking-to-market: It is the difference of price between the closing prices of two trading days. This is settled everyday by the exchange. At the end of the trading day the margin account is adjusted to reflect the investor’s gain / loss depending in the future’s closing price.
j) Maintenance Margin: This is somewhat lower than the initial margin. This is set to ensure that the balance is the margin account never becomes negative. If the balance in the margin account falls below the maintenance margin, the investor receives a margin call and he is required to top up it with the shortfall. Before the commencement of the next trading day.
IMPORTANCE OF THE DERIVATIVE MARKET IN AN ECONOMY
Derivatives market help in increase savings and investment in the long run for the economy. The derivatives market has to bear a lot of criticism and fear in the economy but it performs a no of economic functions. These can be read as below:
1. Prices in an organized derivative market reflect the perception of the market participants about the future and lead to price discovery of the underlying asset. The prices of the derivatives converge the price of the underlying at the expiration of the contract term. This helps in discovery of not only the future price but also the current price of the asset
2. The derivatives market helps to transfer risk.
3. The derivatives help the spot market in witnessing higher trading volumes as there are more number of participants.
4. This market helps in shifting the speculation to a more controlled environment. In the absence of an organized derivative market, speculators trade in the underlying cash markets. Margining, monitoring and surveillance of the activities of various participants become extremely difficult in this kind of mixed market.
5. Existence of an organized derivative market helps the economy by acting as a catalyst for new entrepreneurial activities. It often energizes others to create new businesses, new products and new employment opportunities in an economy.
Sunday, February 06, 2011
Invest in IPOs, The ASBA route...
Investment through the Initial Public offering (IPO) has been flair of the investors in India, for decades. This is also the primary step where in the investors learn investing in the stock market. Over the past decade it is observed that the participation of the retail investor for IPO has taken a large leap as they are proving to be an avenue to make quick money as the IPOs list at high premium to the issue price.
Retail investors are subscribing IPOs hand to hand and their increased participation is making the IPOs a success for the issuing company. Mostly the IPOs are oversubscribed i.e., more applications for the shares offered for sale by the company. It is almost certain that due to oversubscription, the investors will not get the number of shares they apply for in an IPO – most of the time two lots are alloted for four applied, one lot for five and sometimes nothing at all! Running in the race to apply for the shares in an IPO, investors run out of cheque leaves and also experience that the balance in the savings account has dip below the minimum balance required. Banks mostly charge penalties to the account holders who do not maintain a minimum balance. The securities market regulator and watch dog of the investor community in INDIA, the Securities and Exchange board of India (SEBI) has formulated a smarter way of investing in IPOs wherein you can make applications for IPOs with the amount residing in your account till the allotment is finalized. This way is called as “Application Supported by Blocked Amount” (ASBA). This facility can be an ‘Icing on the cake’ for the investors in the country.
ASBA- Application Supported by Blocked Amount is an application that authorizes the banker to block a specific sum of money in an individual's bank account for an IPO and debit the account only to the extent of the shares allotted to the individual. However, even as the blocked amount will not be available for use of the customer and he will continue to earn interest on it.
The benefits that an investor can derive from ASBA are
a) Cancelling and revising the bid is also possible.
b) The application amount is not debited from the savings account.
c) Keep earning interest on the amount parked in the Savings account.
Unlike the normal procedure where the debit happens immediately and the applicant needs to wait for refunds on a partial allotment, the ASBA route provides interest and saves time.
Now the question arises, how does one apply for ASBA?
Applying for ASBA
To bid in an IPO, the investor has to take either the e-route via on-line trading account or fill the physical form and submit it with his banker/broker. In the first scenario, taking an online investor into consideration, the process is very simple, he needs to just check the ASBA check-box in his screen (top brokerage houses provide ASBA facility for their online clients) and rest of the process is taken care of automatically. Whereas, if the investor takes the traditional way of applying to IPOs still, he needs to approach his banker (ASBA application forms can be downloaded from the NSE/BSE Web sites too) for an ‘ASBA Bid cum Application' form.
The applicant has to fill in basic details that include bank account number, PAN number, demat number, the bid quantity and bid price and submit the form with the banker (if the applicant is a Net banking client, he may be able to do this online itself). The banker then uploads details of the application in the bidding platform and simultaneously blocks the amount in the client's account. What is to be noted here is that not all banks have ASBA facility; only self certified syndicate banks (SCSBs) offer this.
List of SCSBs is given as a link below. To name a few, State Bank of India, HDFC Bank, AXIS Bank, ICICI Bank, Bank of India, Kotak Mahindra Bank, Standard Chartered Bank etc., are among those offering the facility. The best thing in this way of applying is that currently most brokers and bankers offer this service free of cost for their clients. They collect the selling commission or the processing fee from merchant bankers of the issue.
With ASBA applications just kicking off, there has been queries as to whether one can apply at the cut-off price and if the place bids can be revised. The answer is: Yes, one can do that. “The investor has the option of revising and even cancelling the bid till the cut-off time on the last day of the issue”. The process is simple and doesn't require much of a doing.
Process to be complied:
The investor need to have a current/savings account with one of the SCSBs to be able to apply via ASBA route in IPOs. While accessing this route the investor should ensure that he makes sufficient amount is available in his account while making the application. Once the process is complete, the banker sends in an acknowledgement which should be filed and kept for future reference.
Recently, brokerage houses have also been given the ‘green' signal by SEBI to distribute ASBA forms. So now you needn't even walk up to the bank for an ASBA application; you can send it through your broker (not all brokerages currently offer this service).
Important Links:
ü List of SCSBs (including details Controlling Branch & Designated Branch)
ü To register with the Exchange the self certified syndicate banks has to submit an undertaking as per the prescribed format.
ü Investors, wishing to apply the E-route or Online trading account click here
Retail investors are subscribing IPOs hand to hand and their increased participation is making the IPOs a success for the issuing company. Mostly the IPOs are oversubscribed i.e., more applications for the shares offered for sale by the company. It is almost certain that due to oversubscription, the investors will not get the number of shares they apply for in an IPO – most of the time two lots are alloted for four applied, one lot for five and sometimes nothing at all! Running in the race to apply for the shares in an IPO, investors run out of cheque leaves and also experience that the balance in the savings account has dip below the minimum balance required. Banks mostly charge penalties to the account holders who do not maintain a minimum balance. The securities market regulator and watch dog of the investor community in INDIA, the Securities and Exchange board of India (SEBI) has formulated a smarter way of investing in IPOs wherein you can make applications for IPOs with the amount residing in your account till the allotment is finalized. This way is called as “Application Supported by Blocked Amount” (ASBA). This facility can be an ‘Icing on the cake’ for the investors in the country.
ASBA- Application Supported by Blocked Amount is an application that authorizes the banker to block a specific sum of money in an individual's bank account for an IPO and debit the account only to the extent of the shares allotted to the individual. However, even as the blocked amount will not be available for use of the customer and he will continue to earn interest on it.
The benefits that an investor can derive from ASBA are
a) Cancelling and revising the bid is also possible.
b) The application amount is not debited from the savings account.
c) Keep earning interest on the amount parked in the Savings account.
Unlike the normal procedure where the debit happens immediately and the applicant needs to wait for refunds on a partial allotment, the ASBA route provides interest and saves time.
Now the question arises, how does one apply for ASBA?
Applying for ASBA
To bid in an IPO, the investor has to take either the e-route via on-line trading account or fill the physical form and submit it with his banker/broker. In the first scenario, taking an online investor into consideration, the process is very simple, he needs to just check the ASBA check-box in his screen (top brokerage houses provide ASBA facility for their online clients) and rest of the process is taken care of automatically. Whereas, if the investor takes the traditional way of applying to IPOs still, he needs to approach his banker (ASBA application forms can be downloaded from the NSE/BSE Web sites too) for an ‘ASBA Bid cum Application' form.
The applicant has to fill in basic details that include bank account number, PAN number, demat number, the bid quantity and bid price and submit the form with the banker (if the applicant is a Net banking client, he may be able to do this online itself). The banker then uploads details of the application in the bidding platform and simultaneously blocks the amount in the client's account. What is to be noted here is that not all banks have ASBA facility; only self certified syndicate banks (SCSBs) offer this.
List of SCSBs is given as a link below. To name a few, State Bank of India, HDFC Bank, AXIS Bank, ICICI Bank, Bank of India, Kotak Mahindra Bank, Standard Chartered Bank etc., are among those offering the facility. The best thing in this way of applying is that currently most brokers and bankers offer this service free of cost for their clients. They collect the selling commission or the processing fee from merchant bankers of the issue.
With ASBA applications just kicking off, there has been queries as to whether one can apply at the cut-off price and if the place bids can be revised. The answer is: Yes, one can do that. “The investor has the option of revising and even cancelling the bid till the cut-off time on the last day of the issue”. The process is simple and doesn't require much of a doing.
Process to be complied:
The investor need to have a current/savings account with one of the SCSBs to be able to apply via ASBA route in IPOs. While accessing this route the investor should ensure that he makes sufficient amount is available in his account while making the application. Once the process is complete, the banker sends in an acknowledgement which should be filed and kept for future reference.
Recently, brokerage houses have also been given the ‘green' signal by SEBI to distribute ASBA forms. So now you needn't even walk up to the bank for an ASBA application; you can send it through your broker (not all brokerages currently offer this service).
Important Links:
ü List of SCSBs (including details Controlling Branch & Designated Branch)
ü To register with the Exchange the self certified syndicate banks has to submit an undertaking as per the prescribed format.
ü Investors, wishing to apply the E-route or Online trading account click here
Tuesday, April 14, 2009
A note on what Reliance stands for...!!!
In 1982, Reliance Industries came up against a rights issue regarding partly convertible debentures.It was rumored that company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, a bear cartel which was a group of stock brokers from Calcutta started to short sell the shares of Reliance. To counter this, a group of stock brokers till recently referred to as "Friends of Reliance" started to buy the short sold shares of Reliance Industries on the Bombay Stock Exchange.
The Bear Cartel was acting on the belief that the Bulls would be short of cash to complete the transactions and would be ready for settlement under the "Badla" trading system operative in the Bombay Stock Exchange. The bulls kept on buying and a price of Rs. 152 per share was maintained till the day of settlement. On the day of settlement, the Bear Cartel was taken aback when the Bulls demanded a physical delivery of shares. To complete the transaction, the much needed cash was provided to the stock brokers who had bought shares of Reliance, by none other than Dhirubhai Ambani. In the case of non-settlement, the Bulls demanded an "Unbadla" (a penalty sum) of Rs. 35 per share. With this, the demand increased and the shares of Reliance shot above 180 rupees in minutes. The settlement caused an enormous uproar in the market and Dhirubhai Ambani was the unquestioned king of the stock markets. He proved to his detractors just how dangerous it was to play with Reliance.
To find a solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the Bombay Stock Exchange(BSE) intervened in the matter and brought down the "Unbadla" rate to Rs. 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure.
After this incident, many questions were raised by his detractors and the press. Not many people were able to understand as to how a yarn trader till a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, Pranab Mukherjee in the parliament. He informed the house that a Non-Resident Indian had invested up to Rs. 22 Crore in Reliance during 1982-83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man. The interesting factor was that all the promoters or owners of these companies had a common surname Shah. An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.
A Document extract by Ankit gupta...
The Bear Cartel was acting on the belief that the Bulls would be short of cash to complete the transactions and would be ready for settlement under the "Badla" trading system operative in the Bombay Stock Exchange. The bulls kept on buying and a price of Rs. 152 per share was maintained till the day of settlement. On the day of settlement, the Bear Cartel was taken aback when the Bulls demanded a physical delivery of shares. To complete the transaction, the much needed cash was provided to the stock brokers who had bought shares of Reliance, by none other than Dhirubhai Ambani. In the case of non-settlement, the Bulls demanded an "Unbadla" (a penalty sum) of Rs. 35 per share. With this, the demand increased and the shares of Reliance shot above 180 rupees in minutes. The settlement caused an enormous uproar in the market and Dhirubhai Ambani was the unquestioned king of the stock markets. He proved to his detractors just how dangerous it was to play with Reliance.
To find a solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the Bombay Stock Exchange(BSE) intervened in the matter and brought down the "Unbadla" rate to Rs. 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure.
After this incident, many questions were raised by his detractors and the press. Not many people were able to understand as to how a yarn trader till a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, Pranab Mukherjee in the parliament. He informed the house that a Non-Resident Indian had invested up to Rs. 22 Crore in Reliance during 1982-83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man. The interesting factor was that all the promoters or owners of these companies had a common surname Shah. An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.
A Document extract by Ankit gupta...
Thursday, April 09, 2009
Inflation@ 0.26% and IIP @ -1.2% :data released on 09-04-09
Inflation for the week-ended March 28 has come in at 0.26% as against 0.31% a week earlier. A CNBC-TV18 poll conducted earlier saw inflation coming in at 0.35%. The FY09 provisional average inflation is seen at 8.37% versus 4.67% year-on-year.
Meanwhile, inflation for week-ended January 31 has been revised to 3.98% versus the provisonal figure of 4.39%.
The Index of Industrial Production for February has come in at a negative 1.2% as against 9.5% year-on-year and negative 0.5% month-on-month. The number was not as bad as the street had expected and this was probably due to the capital goods growth number coming in at 10.4%. A CNBC-TV18 poll conducted earlier saw February IIP at a negative 1.86%.
ClicK Here to read the Complete News
Meanwhile, inflation for week-ended January 31 has been revised to 3.98% versus the provisonal figure of 4.39%.
The Index of Industrial Production for February has come in at a negative 1.2% as against 9.5% year-on-year and negative 0.5% month-on-month. The number was not as bad as the street had expected and this was probably due to the capital goods growth number coming in at 10.4%. A CNBC-TV18 poll conducted earlier saw February IIP at a negative 1.86%.
ClicK Here to read the Complete News
Wednesday, April 01, 2009
TRADING LEVELS & INTRADAY RECOMMENDATIONS
TRADING RANGE:
The support for the SENSEX is 9332 and the resistance to the up move is at 9900
NIFTY: (2978) the support for the Nifty is at 2900 and the resistance to the up move is at 3050
Day's trading Ideas -
HDIL
Buy above 79.45 for targets of 80.45 and 81.60
Sell below 75.40 for targets of 73.10 and 72.25
ICICI
Buy above 341 for targets of 346 and 352
Sell below 324 for tergets of 320 and 314
LNT
Buy above 660 for tergets of 668 and 674
Sell below 630 for tergets of 624 and 619
HAPPY TRADE TO ALL ....!!!
The support for the SENSEX is 9332 and the resistance to the up move is at 9900
NIFTY: (2978) the support for the Nifty is at 2900 and the resistance to the up move is at 3050
Day's trading Ideas -
HDIL
Buy above 79.45 for targets of 80.45 and 81.60
Sell below 75.40 for targets of 73.10 and 72.25
ICICI
Buy above 341 for targets of 346 and 352
Sell below 324 for tergets of 320 and 314
LNT
Buy above 660 for tergets of 668 and 674
Sell below 630 for tergets of 624 and 619
HAPPY TRADE TO ALL ....!!!
Market View 01-04-2009
Good Morning .....!!!
Sensex has managed gained nearly 150 points after a volatile session yesterday. Allthe sectors have Contributed in yesterday's trade. US markets did the same and gained 86 points. Buying came in Bankingand IT stocks . Crude is trading below 50$ a barrel with highinventory report from US as the industries cut the production costs.
Indian markets are expected to gain in the opening trade. As the Global & the Asian sentiment is positive we see markes to be in the positive. Banking and Reality sector are ecpected to do well in todays trade.
SBI, HDFC BANK, AXIS BANK & PNB are our favourites. SUGAR sector the stocksdid well in yesterdays trade and we see today also the run may continue.
*Members those are in profits should book profits in the trade today.
Sensex has managed gained nearly 150 points after a volatile session yesterday. Allthe sectors have Contributed in yesterday's trade. US markets did the same and gained 86 points. Buying came in Bankingand IT stocks . Crude is trading below 50$ a barrel with highinventory report from US as the industries cut the production costs.
Indian markets are expected to gain in the opening trade. As the Global & the Asian sentiment is positive we see markes to be in the positive. Banking and Reality sector are ecpected to do well in todays trade.
SBI, HDFC BANK, AXIS BANK & PNB are our favourites. SUGAR sector the stocksdid well in yesterdays trade and we see today also the run may continue.
*Members those are in profits should book profits in the trade today.
Thursday, March 12, 2009
Intraday trading Ideas
Day Trading Ideas -
HDIL
Buy above 65.10 for targets of 65.90 and 66.85
Sell below 62.10 for targets of 62.05 and 61.25
LNT
Buy above 566 for targets of 571 and 578
Sell below 546 for targets of 540 and 535
HDIL
Buy above 65.10 for targets of 65.90 and 66.85
Sell below 62.10 for targets of 62.05 and 61.25
LNT
Buy above 566 for targets of 571 and 578
Sell below 546 for targets of 540 and 535
Morning Brief 12-03-09
Good Morning ....!!!
The support for the Sensex is 80470 and the resistance to the up move is at 8522-8676.
Nifty: (2573) the support for the Nifty is at 2539 and the resistance to the up move is at 2704.
US markets ended mixed.
Europe also ended mixed.
Asia has opened lower. Expect Indian Markets to open flat to negative.
Inflation data wil be released today. Inflation may slip below 3% today.
The support for the Sensex is 80470 and the resistance to the up move is at 8522-8676.
Nifty: (2573) the support for the Nifty is at 2539 and the resistance to the up move is at 2704.
US markets ended mixed.
Europe also ended mixed.
Asia has opened lower. Expect Indian Markets to open flat to negative.
Inflation data wil be released today. Inflation may slip below 3% today.
Monday, March 09, 2009
Inrtaday Trading Ideas
Stocks to watch out for -
Reliance - Reliance has a good support at 1150 and above 1195 it can move till 1260 (weekly basis.) (SL of 1120)
TCS - buy above 474. It has good support at 469 and a resistance at 494 . SL of 463
Other stocks to watch out are -
IDFC
HDFC
Ranbaxy
DLF
Reliance - Reliance has a good support at 1150 and above 1195 it can move till 1260 (weekly basis.) (SL of 1120)
TCS - buy above 474. It has good support at 469 and a resistance at 494 . SL of 463
Other stocks to watch out are -
IDFC
HDFC
Ranbaxy
DLF
Morning Cues and Market Briefing 09-03-2009
Good Morning........!!!
Nifty spot will be: 2672,2645,2634,2611,2576,2564
On Friday the Indian Markets recovered a bit with short covering in the end session and gained nearly 1.5% pointsOn both the Indices. US markets on friday closed almost flat with DOWJONES closing in green . Crude would stand aside with gains coming in the last weekahead of the OPEC meeting.Asian markets are trading mixed with SANGHAI gaining more than 1% and HANGSENG losing the same percentage.
Indian markets are expected to open flat to positive and we may seepositive closing today . Do not expect aggresive buying in the marketsas it is struggling to survive witht the volumes touching lows on every trading day. The 2504 levels on the nifty is a good support for the trading range and if this level break with high volumes, we may see nifty below 2380 levels on NIFTY .
We advice members no to go for buys for the short term as the bottom is unknown in the markets . Newscoming from the outside and in the Indian markets are extremely negative. We see some stocks like SATYAM and UNITED SPIRITS to tradehigher today. Watch out for a rebound in banking , IT , Metal and realty stocks as the sectors are in oversold position.
Nifty spot will be: 2672,2645,2634,2611,2576,2564
On Friday the Indian Markets recovered a bit with short covering in the end session and gained nearly 1.5% pointsOn both the Indices. US markets on friday closed almost flat with DOWJONES closing in green . Crude would stand aside with gains coming in the last weekahead of the OPEC meeting.Asian markets are trading mixed with SANGHAI gaining more than 1% and HANGSENG losing the same percentage.
Indian markets are expected to open flat to positive and we may seepositive closing today . Do not expect aggresive buying in the marketsas it is struggling to survive witht the volumes touching lows on every trading day. The 2504 levels on the nifty is a good support for the trading range and if this level break with high volumes, we may see nifty below 2380 levels on NIFTY .
We advice members no to go for buys for the short term as the bottom is unknown in the markets . Newscoming from the outside and in the Indian markets are extremely negative. We see some stocks like SATYAM and UNITED SPIRITS to tradehigher today. Watch out for a rebound in banking , IT , Metal and realty stocks as the sectors are in oversold position.
Friday, March 06, 2009
Intraday Ranges 06-03-09
Reliance Industry
Buy above 1162 for targets of 1169 and 1175
Sell below 1132 for targets of 1125 and 1119
Idea Cellular
Buy above 45.10 for targets of 45.90 and 46.75
Sell below 43.25 for targets of 42.90 and 42.25
Unitech
Buy above 26.10 for targets of 26.85 and 27.45
Sell below 24.90 for targets of 24.25 and 23.90
Buy above 1162 for targets of 1169 and 1175
Sell below 1132 for targets of 1125 and 1119
Idea Cellular
Buy above 45.10 for targets of 45.90 and 46.75
Sell below 43.25 for targets of 42.90 and 42.25
Unitech
Buy above 26.10 for targets of 26.85 and 27.45
Sell below 24.90 for targets of 24.25 and 23.90
Market View 06-03-09
Good Morning
The support for the Sensex is 7995 - 7890 and the resistance to the up move is at 8410
Nifty: (2576) the support for the Nifty is at 2450 - 2390 and the resistance to the up move is at 2674Inflation fell down to 3.03%
US markets tumble along with the European markets.Asia has also opened weak.I expect Indian markets to open weak.Indian markets may go below 8K mark today itself.
The support for the Sensex is 7995 - 7890 and the resistance to the up move is at 8410
Nifty: (2576) the support for the Nifty is at 2450 - 2390 and the resistance to the up move is at 2674Inflation fell down to 3.03%
US markets tumble along with the European markets.Asia has also opened weak.I expect Indian markets to open weak.Indian markets may go below 8K mark today itself.
Wednesday, March 04, 2009
Intraday calls
LT - Buy above 575 with sl 566 uptrend till 588 >> 596
RELINFRA(REL) Buy above 443 sl 435 uptrend till 451 >>458
RELINFRA(REL) Buy above 443 sl 435 uptrend till 451 >>458
Market View
Good Morning.....!!
Nifty traded in a strict range for the entire day and experienceda selloff in the last hour of trade and managed to close well above the day's low on backing positive European cues in the laterhalf of the day.
Today we expect the nifty to open flat with a +ve bias and thereby staying range bound like yeserday, 2648 and 2682 levels on nifty (spot)seems to form a good Resistance. Nifty can find support around 2599 and 2565 levels , if Nifty spot breaks both the levels- we may see further downside till 2400 levels in the near future....
Stay cautious and trade with stoploss. we advice to book profit in the BTST positions today or trail with stroct stoploss.
Nifty traded in a strict range for the entire day and experienceda selloff in the last hour of trade and managed to close well above the day's low on backing positive European cues in the laterhalf of the day.
Today we expect the nifty to open flat with a +ve bias and thereby staying range bound like yeserday, 2648 and 2682 levels on nifty (spot)seems to form a good Resistance. Nifty can find support around 2599 and 2565 levels , if Nifty spot breaks both the levels- we may see further downside till 2400 levels in the near future....
Stay cautious and trade with stoploss. we advice to book profit in the BTST positions today or trail with stroct stoploss.
Tuesday, March 03, 2009
intraday levels and stocks to watchout for .....!!
Stocks with +ve bias : Renuka, Mphasis, Tata Motors (SL 146), BPCL, BHEL
Stocks for Investment : RIL, Bharti BEL, Lupin, HUL
Stocks for Investment : RIL, Bharti BEL, Lupin, HUL
Market view
On back of weak global cues Nifty kept cracking from highs. It got minor support @ 2680, but that to broken on later hours. For today, watchout for 2662-2625, closing below it may lead to 2520 zone. Abv 2680, we may see some releif rally. Dow Jones cracked almost 5%, closing below 7000 mark nearly 12 yr low, after AIG reports biggest quarterly loss in corporate history & Nifty Fut: Broke crucial support of 2660. It may test 2600-2580 if stays blw 2625. We would like to advise all to think of covering shorts once in 2550-2600 range & wait for confirmation for next move. We may expect a flat/gapdown opening of 20-30 pts on Nifty, avoid shorting at lower levels
Monday, March 02, 2009
Intraday calls
MAHASEAMLESS Buy above 124 with SL 115 TGT 133
EDUCOMP - SELL below 1665 with SL 1679 for a Target 1645 >> 1555
RIL MAR FUT(BUY) 1200-1205 (Target1) 1220(Target2) 1235(Sl) 1192
AKRUTHICITY MAR FUT(SELL) below 855 (Sl) 865Target 832 >> 798
EDUCOMP - SELL below 1665 with SL 1679 for a Target 1645 >> 1555
RIL MAR FUT(BUY) 1200-1205 (Target1) 1220(Target2) 1235(Sl) 1192
AKRUTHICITY MAR FUT(SELL) below 855 (Sl) 865Target 832 >> 798
Market View For 02/03/09
Good morning
Nifty: Resistance 2770/2807 Support 2725/2690/2660
On friday Nifty gave a good swings on both sides & finally closed -17 pts @ 2763.65. On friday GDP was announced, it was @ 5.3 % in the 3rd quarter ended December 2008 were much lower than the expected growth. It was down sharply from a GDP growth of 7.6% in the 2nd quarter . Also we have RIL-RPL merger news on cards, so alot of volatility would be witnessed in this counter, so avoid it. RPL could be hammered if any unfavourable news comes in. Eyes on 2660 on Nifty on downside. Closing below 2620 may lead to 2507 zone.
Reliance industries and reliance petroleum - swap raito to be 16:1(1 share of RIL for every 16 shares held in RPL)
Nifty: Resistance 2770/2807 Support 2725/2690/2660
On friday Nifty gave a good swings on both sides & finally closed -17 pts @ 2763.65. On friday GDP was announced, it was @ 5.3 % in the 3rd quarter ended December 2008 were much lower than the expected growth. It was down sharply from a GDP growth of 7.6% in the 2nd quarter . Also we have RIL-RPL merger news on cards, so alot of volatility would be witnessed in this counter, so avoid it. RPL could be hammered if any unfavourable news comes in. Eyes on 2660 on Nifty on downside. Closing below 2620 may lead to 2507 zone.
Reliance industries and reliance petroleum - swap raito to be 16:1(1 share of RIL for every 16 shares held in RPL)
Friday, February 27, 2009
News and announcements
Q3 GDP numbers have been announced. The figure for Q3 2009 has been recorded at 5.3%.VS 7.6% (QoQ), vs 8.9% (YoY)
Manufacturing output down to -0.2%, construction growth at 6.7%, mining growth at 5.3%, farm sector output down to -2.2%
This may prove -ve for Indian market
Manufacturing output down to -0.2%, construction growth at 6.7%, mining growth at 5.3%, farm sector output down to -2.2%
This may prove -ve for Indian market
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