Corporate News Headline
• Tata Teleservices announced the launch of its services in GSM platform in partnership with Japanese firm NTT DoCoMo and said it will invest USD 2 bn by this fiscal to roll out operations across the country. (BS)
• SAIL received the nod for acquiring four pending mining leases in Chiria iron ore mines of Jharkhand. (BS)
• RIL has increased LPG supplies to Indian Oil, Bharat Petroleum, and Hindustan Petroleum from its twin refineries at Jamnagar, forcing the state-run firms to sell cooking fuel cargoes that they had contracted from overseas suppliers. (BS)
Economic and Political Headline
• The Finance Minister Pranab Mukherjee said that banks have agreed to consider interest rate cuts, responding to his strong pitch saying measures to ease their burden were not being passed on and that industry needed credit at reasonable rates to push overall growth. (BS)
• The UK manufacturing rose 0.2% for a second month in April, as a rebound in motor vehicle production helped end the yearlong factory slump and temper Britain's recession. (Bloomberg)
• The orders for Japanese machinery fell 5.4% in April and producer prices tumbled as dwindling profits forced companies to cut costs amid the worst postwar recession. (Bloomberg)
• Tata Teleservices announced the launch of its services in GSM platform in partnership with Japanese firm NTT DoCoMo and said it will invest USD 2 bn by this fiscal to roll out operations across the country. (BS)
• SAIL received the nod for acquiring four pending mining leases in Chiria iron ore mines of Jharkhand. (BS)
• RIL has increased LPG supplies to Indian Oil, Bharat Petroleum, and Hindustan Petroleum from its twin refineries at Jamnagar, forcing the state-run firms to sell cooking fuel cargoes that they had contracted from overseas suppliers. (BS)
Economic and Political Headline
• The Finance Minister Pranab Mukherjee said that banks have agreed to consider interest rate cuts, responding to his strong pitch saying measures to ease their burden were not being passed on and that industry needed credit at reasonable rates to push overall growth. (BS)
• The UK manufacturing rose 0.2% for a second month in April, as a rebound in motor vehicle production helped end the yearlong factory slump and temper Britain's recession. (Bloomberg)
• The orders for Japanese machinery fell 5.4% in April and producer prices tumbled as dwindling profits forced companies to cut costs amid the worst postwar recession. (Bloomberg)
NIFTY FUTURES
SUPPORT
4628
4583
4539
4466
4423
4270
RESISTANCE
4671
4680
4723
4767
4830
SELL SOLAR IND, SUNPHARMA, NOCIL, ALOKIND,DECCAN CRONICAL
Strong & Weak futures
This is list of 10 strong futures:
This is list of 10 strong futures:
Bajaj Hind, JP Hydro, BEML, MRPL, ABAN, Sobha, Voltas, Laxmi Mach, Parsvnath & S Kumar Synf.
And this is list of 10 Weak :
Indian B, Bharti Airtel, PFC, Dabur, Axis Bank, Essar Oil, Star, PNB, Sterlin Bio & ITC.
Nifty is in Up Trend .
Nifty is in Up Trend .
NIFTY FUTURES (F & O):
Below 4628 level, expect profit booking up to 4583-4585 zone and thereafter slide may continue up to 4539-4541 zone by non-stop.
Below 4628 level, expect profit booking up to 4583-4585 zone and thereafter slide may continue up to 4539-4541 zone by non-stop.
Hurdle at 4671 level. Above this level, rally may continue up to 4678-4680 zone by non-stop.
Cross above 4721-4723 zone, can take it up to 4765-4767 zone and supply expected at around this zone and have caution.
On Negative Side, rebound expected at around 4466-4468 zone. Stop Loss at 4423-4425 zone.
Short-Term Investors:
Bullish Trend. 3 closes above 4270 level, it can zoom up to 4830 level by non-stop.
BSE SENSEX:
Lower opening expected. Uptrend should continue.
Short-Term Investors:
Short-Term trend is Bearish and target at around 14931 level on down side.
Maintain a Stop Loss at 16157 level for your short positions too.
POSITIONAL TRADERS ONLY
Sell SOLAR INDS (I) (NSE Cash)
Lower opening expected. Profit booking should start.
Short-Term trend is Bearish and target at around 14931 level on down side.
Maintain a Stop Loss at 16157 level for your short positions too.
POSITIONAL TRADERS ONLY
Sell SOLAR INDS (I) (NSE Cash)
Lower opening expected. Profit booking should start.
If trades below 311 level, then profit booking may start up to 296 level. Break below 287 level, expect free fall too.
If crosses 311 level, then traders can expect further buying up to 320 level.
Sell SUN PHARMACEUTIC (NSE Cash)
Lower opening expected. Selling may continue.
If trades below 1360 level, then selling may continue up to 1294 level. Break below 1255 level, expect free fall too.
If crosses 1360 level, then traders can expect short covering up to 1401 level.
Sell NOCIL LTD (NSE Cash)
Lower opening expected. Selling may continue.
If trades below 28 level, then selling may continue up to 26 level. Break below 25 level, expect free fall too.
If crosses 28 level, then traders can expect short covering.
Sell ALOK IND FUTURES (NSE)
Lower opening expected. Selling may continue.
If trades below 26 level, then selling may continue up to 24 level. Break below 24 level, expect free fall too.
If crosses 26 level, then traders can expect short covering up to 27 level.
Sell DECCAN CHRONICLE HOLD FUTURES (NSE)
Lower opening expected. Selling may continue.
If trades below 88 level, then selling may continue up to 84 level. Break below 82 level, expect free fall too.
If crosses 88 level, then traders can expect short covering up to 91 level.
SPOT LEVELS
 | 4655.25 | ( 2.29 %) | 104.30 |  |
| 1 | 2 | 3 | ||
| Resistance | 4620.57 | 4690.18 | 4817.92 | |
| Support | 4423.22 | 4295.48 | 4225.87 | |
 | 15466.81 | ( 2.25 %) | 339.81 | | |
| 1 | 2 | 3 | |||
| Resistance | 15349.92 | 15572.83 | 15984.45 | ||
| Support | 14715.39 | 14303.77 | 14080.86 | ||
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 | 10-Jun-2009 | 3890.44 | 3152.35+ | +738.09 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 10-Jun-2009 | 2539.74 | 1949.86_ | +589.88 |
Global Cues & Rupee
The Dow Jones Industrial Average closed at 8,739.02. Down by 24.04 points.
The Broader S&P 500 closed at 939.15. Down by 3.28 points.
The Dow Jones Industrial Average closed at 8,739.02. Down by 24.04 points.
The Broader S&P 500 closed at 939.15. Down by 3.28 points.
The Nasdaq Composite Index closed at 1,853.08. Down by 7.05 points.
The partially convertible rupee <INR=IN> ended at 47.24/25 per dollar on yesterday, stronger than Tuesday's close of 47.48/49.
ICSA India: Powerful Solutions
ICSA caters to power, oil, gas and water industries through the development of products and solutions which prevent and reduce transmission losses. ICSA had exceptional Revenue and PAT CAGR of 139 per cent and 129 per cent respectively over the FY06-09 period.
ICSA India: Powerful Solutions
ICSA caters to power, oil, gas and water industries through the development of products and solutions which prevent and reduce transmission losses. ICSA had exceptional Revenue and PAT CAGR of 139 per cent and 129 per cent respectively over the FY06-09 period.
With a rising order book, the growth outlook over the next three years due to greater implementation of the APDRP and increased spending on infrastructure will help lift ICSA's earnings by 38 per cent and 30 per cent in FY 10 and FY11 respectively.
At Rs 19 Bn ICSA's order book stands at 1.8 times FY09 Revenues. On projected earnings the PE for FY10 and FY11 works to 3.7 and 3. There could be significant upside from here.
(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
--
Arvind Parekh
+ 91 98432 32381
