Corporate News Headline
Jindal Steel & Power reported Q3'09 results; total revenue increased 27.29% yoy to Rs. 17.91 bn and net profit increased 1.91% yoy to Rs. 3.25 bn. (BS) GAIL will borrow USD 134 mn from Export Credit Agency to fund truncated capital expenditure planned for 2009-10 fiscal. (BS) Tata Motors has bagged contracts worth Rs. 22 bn for supply and maintenance of low-floor buses from the Delhi Transport Corporation. (BS) Economic and Political Headline Inflation stood at 5.64% for the week ended January 17, 2009, as compared to 5.6% in the previous week. (ET) Bank lending has drop by 0.5% during the 14 days ending January 16, 2009, the lending stood at Rs. 138.37 bn against 144.69 bn in the earlier fortnight. The deposits grew by 0.3% to Rs. 36,300.79 bn in the fortnight and 20% on a yoy basis. (BS) As per the US government data, purchases of new houses fell a record 38% yoy to 482,000 and orders for durable goods slumped 5.7% yoy in FY 2008. Moreover, sales of new homes fell to an annual pace of 331,000, the median price of a new home decreased 9.3%, and orders for durable goods fell 2.6% in December and the number of Americans collecting jobless benefits soared to a record 4.8 mn in the week ended January 17. (Bloomberg)NIFTY FUTURES (F & O)
Below 2763-2765 zone, selling may continue up to 2726-2728 zone by non-stop.
Hurdles at 2806 & 2810 levels. Above these levels, expect short covering up to 2847-2849 zone and thereafter expect a jump up to 2884-2886 zone
Above 2921-2923 zone, it can zoom up to multiple resistance zones of 2958-2960 zone & 2983-2985 zone and supply expected at around these zones.
On Negative Side, rebound expected at around 2689-2691 zone. Stop Loss at 2664-2666 zone.
Short-Term Investors:
Bullish Trend. 3 closes above 2630 level, it can zoom up to 3065 level by non-stop.
BSE SENSEX
If start moves up then offload your positions. Bulls got trapped.
Short-Term Investors:
Short-Term trend is Bullish and target at around 9910 level on upper side.
On Negative Side, corrections up to 8951 level can be used to buy. Maintain a Stop Loss at 8632 level for your long positions too.
Trading Calls 30th Jan 2009
+ve Sector/Scripts : Pharma, BOB, AxisBank
USE STRICT Stop Loss for todays trading
Buy Infosys-1310 for 1365 with sl 1290 [Trading]
Buy AuroPharma-170 for 178 with sl 168
Buy HDFC-1530 for 1560 with sl 1517
Buy DrReddy-453 for 493 with sl 445 [Breakout]
Buy ACC-503 for 520 with sl 496
Buy GSFC-87 for 105 with sl 84 [positional]
Strong & Weak futures
This is list of 10 strong futures:
UTV Soft, Ultra Cem, Wipro, Voltas, Wel Guj, Uni Phos, Polaris Wockhard, Biocon & Zeel.
And this is list of 10 Weak Futures:
Satyam Comp, Aban, DLF, Punj Lloyd, Divis Lab, Gitanjali, Mah Life, NDTV, Cummins Ind & Jindal Saw.
Nifty is in Up Trend.
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,149.01. Down by 226.44 points.
The Broader S&P 500 closed at 845.14. Down by 28.95 points.
The Nasdaq Composite Index closed at 1,507.84. Down by 50.50 points.
The partially convertible rupee closed at 48.975/985 per dollar on yesterday, weaker than Wednesday's close of 48.93/94.
Avoid Short Selling in HEALTHCARE Stocks
+ve to Market : 1. Satyam's takeover issue 4. Reduction expected petrol/diesel price 5. Expected RBI rate cuts in coming days 6. Expected Inflation below 5%
-ve to Market : 1. Continous selling by FII 2. DII selling 3. Expected slowdown/Q3Results 4. Rs.Vs$ 5. Sentiment 6. There is no delivery based buying by investors 7. Asian Market (Mixed) 8. RBI's projection on GDP 9. Global meltdown in employment 10. Cost cutting measures in various sectors through exmployment 11. US Market 12. SGX nifty 13. Asian Market
NIFTY & SENSEX SPOT LEVELS TODAY
 | 2823.95 | ( -0.90 %) | -25.55 |  |
| 1 | 2 | 3 | ||
| Resistance | 2866.75 | 2909.55 | 2945.25 | |
| Support | 2788.25 | 2752.55 | 2709.75 | |
 | 9236.28 | ( -0.23 %) | -21.19 | | |
| 1 | 2 | 3 | |||
| Resistance | 9355.65 | 9475.03 | 9570.37 | ||
| Support | 9140.93 | 9045.59 | 8926.21 | ||
FII DATA
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 29-Jan-2009 | 2066.04 | 2150.68 | -84.64 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 29-Jan-2009 | 1529.16 | 949.05 | 580.11 |
--
Arvind Parekh
+ 91 98432 32381
