Headlines for the day
Corporate News Headline
Great Offshore acquired Andhra Pradesh-based companies KEI-RSOS Maritime and Rajmahendri Shipping and Oilfield Services for Rs. 1.6 bn. (BS)
Sun Pharmaceuticals received the approval from the US health regulator Food and Drug Administration for marketing the generic version of Sinemet. (BS)
GAIL India might be nominated as the sole agency to sell natural gas from Reliance Industries´ eastern offshore KG-D6 block to fuel -starved fertilizer units. (BS)
The Finance Minister P Chidambaram said that the new US president Barack Obama´s anti-outsourcing stand will not impact Indo-US economic relations. (BS)
Hoteliers will consider taking government suggestion on slashing room tariffs by 10-15% in the face of difficult situations for the tourism industry arising out of the global economic crisis. (BS)
The service industries in the US contracted 44.4 in October, at the fastest pace on record, as a lack of credit and slowing sales caused companies to retrench. (Bloomberg)
Strong & Weak futures This is list of 10 strong futures: Educomp, Rajesh Expo, IDFC, Hindujaven, Dabur, Divis Lab, GTL, LITL, Bhushan Steet & HCC And this is list of 10 Weak Futures: IVRPrime, Nucleus, Unitech, Gitanjali, Auro Pharma, Suzlon, National Alum, Jindal Stainless, Purva & Uni Phos
Nifty is in Down Trend until close above 3070 | ||||||||||||||||||||||||||||||||||||||||||||
| NIFTY FUTURES (F & O) Selling may continue up to 2959-2961 zone by non-stop. Hurdles at 3002 & 3063 levels. Above these levels, expect short covering up to 3186-3188 zone and thereafter it can jump up to 3309-3311 zone. Supply expected at around 3432-3434 zone. But should not be allowed to cross 3555-3557 zone on upper side. On Negative Side, rebound expected at around 2836-2838 zone. Stop Loss is too far on down side and can be placed at around 2713-2715 zone. Short-Term Investors: Short-Term trend is bearish and target at around 2546 level (Already broken) on down side. On Positive Side, rallies up to 3085 level can be used to exit. Maintain a Stop Loss at 3265 level (Already it crossed) for your short positions too. BSE SENSEX Technically rebound should happen. Short-Term Investors: Trend is Bullish & Technical target at around 10898 level (Already it crossed) on upper side. Corrections up to 8498 level can be used to buy. SL at 7697 level. --------------------------- | ||||||||||||||||||||||||||||||||||||||||||||
Trading Calls 6th Nov 08
-ve sectors & scripts :
Niftyjunior, CNX100, Hdil,Gail, OIL&RefineryShort BPCL-316 for 300-294 with sl 321
Short HDFC-1749 for 1612-1600 with sl 1760
Short IndianBnk-128 for 123-120 with sl 130
-ve to Market
Global cues, 2. Asian Market 3. Profit Booking 4. Expected Slowdown in IT 5. RIL shutdown some production unit 6. Sentiment 7. RIL`s Downgrade news 8. Commodity market hammered [especially metals].
TU 081106 TA.
TU725 Idea Cellular
Arvind Parekh
+ 91 98432 32381
