+ve Sector, Scripts : FMCG, JSW steel
BUY Jindalsteel-2278 above 2300 for a target 2360 stop loss 2280
BUY GMDC-97 for a target 102 stop loss 95
BUY Marico-70 above 72 for a target 79 stop loss 70
This is list of 10 strong futures:
Nifty is in Up Trend .
NIFTY FUTURES (F & O):
Below 4519 level, expect profit booking up to 4505-4507 zone and thereafter slide may continue up to 4481-4483 zone by non-stop.
Hurdles at 4546 & 4563 levels. Above these levels, buying may continue up to 4600-4602 zone and thereafter expect a jump up to 4624-4626 zone by non-stop.
Cross above 4636-4638 zone, can take it up to 4661-4663 zone. Supply expected at around this zone and have caution.
Short-Term Investors:
Bullish Trend. 3 closes above 4270 level, it can zoom up to 4830 level by non-stop.
Lower opening expected. Recovery should start.
Short-Term Investors:
Short-Term trend is Bearish and target at around 12478 level on down side.
Maintain a Stop Loss at 14931 level for your short positions too.
3 closes above 14931 level, it can zoom up to 16157 level.
POSITIONAL:
Sell RELIANCE INDS (NSE Cash)
Lower opening expected. Selling may continue.
If trades below 2302 level, then selling may continue up to 2190 level. Break below 2124 level, expect free fall too.
If crosses 2302 level, then traders can expect short covering up to 2371 level.
Sell DLF (NSE Cash) Lower opening expected. Selling may continue.
If trades below 413 level, then selling may continue up to 393 level. Break below 381 level, expect free fall too.
If crosses 413 level, then traders can expect short covering up to 425 level.
Sell BHARTI AIRTEL (NSE Cash)
Lower opening expected. Selling may continue.
If trades below 818 level, then selling may continue up to 778 level. Break below 755 level, expect free fall too.
If crosses 818 level, then traders can expect short covering up to 843 level.
Sell GMR INFRASTRUCTURE FUTURES (NSE)
Lower opening expected. Selling may continue.
If trades below 178 level, then selling may continue up to 169 level. Break below 164 level, expect free fall too.
If crosses 178 level, then traders can expect short covering up to 183 level.
Sell RELIANCE PETROLEUM FUTURES (NSE)
Lower opening expected. Selling may continue.
If trades below 146 level, then selling may continue up to 138 level. Break below 134 level, expect free fall too.
If crosses 146 level, then traders can expect short covering up to 150 level.
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 03-Jun-2009 | 3350.36 | 3317.56 | +32.8 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 03-Jun-2009 | 1428.23 | 1375.34 | +52.89 |
 | 4530.70 | ( 0.12 %) | 5.45 |  |
| 1 | 2 | 3 | ||
| Resistance | 4577.53 | 4624.37 | 4673.83 | |
| Support | 4481.23 | 4431.77 | 4384.93 | |
 | 14870.90 | ( -0.03 %) | -4.01 |  | |
| 1 | 2 | 3 | |||
| Resistance | 15033.69 | 15196.48 | 15346.53 | ||
| Support | 14720.85 | 14570.80 | 14408.01 | ||
The Dow Jones Industrial Average closed at 8,675.24. Down by 65.63 points.
The Broader S&P 500 closed at 931.76. Down by 12.98 points.
The Nasdaq Composite Index closed at 1,823.79. Down by 10.88 points.
The partially convertible rupee <INR=IN> closed at 47.07/08 per dollar on yesterday, weaker than its previous close of 47.02/03.
MARKET BUZZ:
(May not be useful for day-traders.)
Gruh Finance-Strong Pedigree
BSE 511288
CMP Rs 161.90
Who owns Gruh Finance? Nos % of Equity
HDFC 21307785 61.49
Merrill Lynch Espana 1155268 3.33
Acacia Partners 1103775 3.19
DSP Blackrock 669327 1.93
DSP Blackrock 531491 1.53
Tata Investments 500000 1.44
Acacia Partners 467200 1.35
25734846 74.26
Financials In Rs/Crore Mar-09 Mar-08
Revenues 294 202
PAT 50 42
Equity Rs 35 35
EPS Rs 14.3 12
Structural break-up
Disbursements Rs/Crore 656 632
Loan Assets Rs/Crore 2086 1769
Gross NPA % 0.9
Outlook FY10
Disbursements Rs/Crore 850-900
Estimated PAT Rs /Crore 60
Estimated EPS Rs 17
Valuation
Should command PE of 15
12 Month Price Target Rs 255
Why A Higher PE Multiple?
Gruh Is Owned by HDFC
No Exposure To Commercial RE
Business Relations with HDFC &
HDFC Bank, HDFC Sec, HDFC MF
& HDFC Standard Life Customers
Strong CAGR over 5 yrs 20
Loans Backed By High Collateral
Non Existent NPAs % 0.9
High Dividend Pay-out per share 4.8
(Correction: We have forgotten to type "PSL Limited" as a Heading in Yesterday's
Newsletter. Error is regretted.)
(Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.)
--
Arvind Parekh
+ 91 98432 32381
