Intraday Calls 10thJul 2009
BUY Biocon-228 for a target 240+ stop loss 223
BUY HPCL-333 for a target 344-351+ stop loss 328
BUY Jagran-75 for a target 79-81+ stop loss 73.50
BUY Mcdowell-890 for a target 921+ stop loss 879
NIFTY FUTURES LEVELS
RESISTANCE
4101
4112
4131
4141
4160
SUPPORT
4062
4031
4012
4002
3983
Buy MARUTI;COLGATE
RESISTANCE
4101
4112
4131
4141
4160
SUPPORT
4062
4031
4012
4002
3983
Buy MARUTI;COLGATE
Strong & Weak futures
This is list of 10 strong futures:
Colpal, Edu Comp, Gail, Biocon, Dr. Reddy, ITC, A Pil, Hind Petrol, Ashok Leyland & GT Off Shore.
And this is list of 10 Weak futures:
Essar oil, Ispat Ind, H Dil, BRFL, Adlabs Film, Bhushan Steel, Suzlon, Orchid Chem, Aban & Chambal Fert.
Nifty is in Down Trend.
NIFTY FUTURES (F & O):
Above 4101 level, buying may continue up to 4110-4112 zone and thereafter expect a jump up to 4129-4131 zone
by non-stop.
Above 4101 level, buying may continue up to 4110-4112 zone and thereafter expect a jump up to 4129-4131 zone
by non-stop.
Support at 4062-4064 zone. Below this zone, expect profit booking up to 4031-4033 zone and thereafter slide may
continue up to 4012-4014 zone by non-stop.
Buy if touches 4002-4004 zone. Stop Loss at 3983-3985 zone.
On Positive Side, cross above 4139-4141 zone can take it up to 4158-4160 zone. If crosses and sustains this zone
then uptrend may continue.
Short-Term Investors:
Bullish Trend. 3 closes above 4270 level, it can zoom up to 4830 level by non-stop.
Already SL triggered. 3 closes below 4270 level, it can tumble up to 3990 level by non-stop.
BSE SENSEX:
Higher 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.
Short-Term Investors:
Bullish Trend. 3 closes above 4270 level, it can zoom up to 4830 level by non-stop.
Already SL triggered. 3 closes below 4270 level, it can tumble up to 3990 level by non-stop.
BSE SENSEX:
Higher 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.
Already SL triggered.
POSITIONAL BUY:
Buy MARUTI SUZUKI (NSE Cash)
Recovery should start.
POSITIONAL BUY:
Buy MARUTI SUZUKI (NSE Cash)
Recovery should start.
Mild sell-off up to 1085 level can be used to buy. If recovery starts, then it may continue up to 1104 level for time being.
If crosses & sustains at above 1119 level then uptrend may continue.
Keep a Stop Loss at 1070 level for your long positions too.
Buy COLGATE PALMOLIV (NSE Cash)
Uptrend to continue.
Mild sell-off up to 648 level can be used to buy. If uptrend continues, then it may continue up to 664 level for time being.
If crosses & sustains at above 673 level then uptrend may continue.
Keep a Stop Loss at 638 level for your long positions too.
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 | 09-Jul-2009 | 2164.88 | 2710.43 | -545.55 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 09-Jul-2009 | 1295.04 | 716.88 | +578.16 |
SPOT LEVELS
 | 4080.95 | ( 0.05 %) | 2.05 |  |
| 1 | 2 | 3 | ||
| Resistance | 4117.28 | 4153.62 | 4192.33 | |
| Support | 4042.23 | 4003.52 | 3967.18 | |
 | 13757.46 | ( -0.08 %) | -11.69 |  | |
| 1 | 2 | 3 | |||
| Resistance | 13876.44 | 13995.41 | 14111.65 | ||
| Support | 13641.23 | 13524.99 | 13406.02 | ||
Global Cues & Rupee
The Dow Jones Industrial Average closed at 8,183.17. Up by 4.76 points.
The Broader S&P 500 closed at 882.68. Up by 3.12 points.
BASF SE is looking at selling or shuttering half of newly-acquired Ciba Holding AG's production sites and offices in a plan that would cost 3,700 jobs at the combined company. Ludwigshafen-based BASF, the world's largest chemical company by sales, said it was reviewing the sale or closure of 23 of the 55 worldwide Ciba production sites and that it would come to a decision on the matter in the first quarter of 2010. BASF said it also aims to consolidate 36 of Ciba's 70 sales and administrative offices and research sites with existing BASF activities.
The Dow Jones Industrial Average closed at 8,183.17. Up by 4.76 points.
The Broader S&P 500 closed at 882.68. Up by 3.12 points.
The Nasdaq Composite Index closed at 1,752.55. Up by 5.38 points.
The rupee ended at 48.72 against the dollar, stronger than Wednesday's close of 48.89.
Interesting findings on web:
The Rupee is Asia's worst performer this month, with a loss of 1.7%.
Interesting findings on web:
The Rupee is Asia's worst performer this month, with a loss of 1.7%.
Dow-component Alcoa posts a narrower-than-expected quarterly loss and initial claims come in below consensus, a good sign for the labor market.
Bank, tech and commodity shares rose Thursday.
Positive broker comment on Goldman Sachs boosted the financial sector.
Stocks managed gains Thursday, but the trend has remained downward since mid-June as investors have stepped back after a 40% rally off the March 9 lows.
Merck & Co Inc, which fell 3.7 percent to $27.01 on speculation its Zetia cholesterol drug fared poorly in a clinical trial comparing it to a drug from Abbott Laboratories.
Wall Street opened narrowly mixed with the Dow losing 13 points at the outset while the NASDAQ posted a six point gain. Stocks began to firm up as investors welcomed news of weekly jobless claims and that they had dropped a much larger than expected 52,000. Adding to the firmness, a report that China's auto sales were up sharply.
Most active big board issue trading 40 million shares, Bank of America (BAC) rising $0.13 a share.
Followed by Citigroup (C) with a $0.07 gain. Citigroup CEO Vikram Pandit under pressure to improve results announced a series of management changes today. This as the government prepares to take possession of 34 percent of the bank.
Market breadth was positive. On the New York Stock Exchange, winners beat losers three to two on volume of 1.01 billion shares. On the Nasdaq, advancers narrowly topped decliners on volume of 1.91 billion shares.
Wall Street was also heartened by yesterday's release of China's monthly auto sales numbers. Sales jumped 36.5% in June to mark the sharpest monthly rise in 2009 to date, to derive a 17.7% growth average over twelve months. The debate rages around the globe as to whether China's astonishing 2009 commodity purchases reflect true stimulus demand or just a lot of smoke and mirrors. The car sales number - if accurate - implies you don't really need to throw someone in gaol to make a point.
The number of Americans filing new claims for unemployment fell to 565,000 last week from a revised 617,000 the previous week. That was short of the 603,000 new claims economists expected, according to a Briefing.com survey.
But continuing claims, a measure of Americans receiving benefits for a week or more, rose to 6,883,000, a fresh record high.
May wholesale inventories fell 0.8% after falling a revised 1.3% last month. Economists thought inventories would fall 1%. It was the ninth straight month of declining inventories.
The economic slowdown continued to take its toll on consumer spending, with clothing retailers and luxury item merchants especially feeling the impact of the recession.
Treasury prices fell, raising the yield on the benchmark 10-year note to 3.40% from 3.31% late Wednesday. Treasury prices and yields move in opposite directions.
The US dollar spun around and crossed back over the 80 mark in the index for the umpteenth time last night, settling down a percent to 79.86. This provided respite in commodity markets, allowing oil to post its first up-day in seven, albeit a mere US27c to US$60.41/bbl. Among the base metals, aluminium added 2% with Chinese cars in mind and copper took back 3% after some sharp falls. Tin was down another 3% however.
Gold steadied with a US$2.90 rise to US$912.20/oz, and the ever volatile Aussie took back half a cent to US$0.7830.
Last night also saw the release of the May wholesale inventories data in the US. Last month the April data showed a fall of 1.4%, and economists were expecting another fall of 1.0% for May. The result came in as a fall of 0.8%, which keeps the "less bad" mantra alive, but then the April figure was revised from down 1.4% to unchanged.
When it comes to the important factor of inventory movements, 1.4% is a big fall. To revise three month old data to unchanged is quite simply ridiculous. On another day perhaps this would have been inspiring news, but a breakdown of the numbers suggests only non-durable (ie consumable) goods inventories are growing against continuing falls in durable goods inventories, which have a greater economic trend significance. But then you might as well just spin a chocolate wheel, it would seem.
Japanese Economy Minister Yoshimasa Hayashi said Friday that a rising yen and falling domestic stock prices are a concern because they hurt sentiment among exporters, the main growth engine for the nation's economy.
Japan's Nikkei average halted a seven-day slide to rise 0.6 percent on Friday, as a pull back in the yen from recent peaks boosted shares of exporters, while resource-linked stocks climbed on a retreat in oil prices.
Cathay Pacific shares jumped 6.2% on Tuesday, going against the 0.7% drop on the Hong Kong Hang Seng Index.
JP Morgan raised the rating for the airlines stock from "underweight" to "overweight¡± on expectations the airline's earnings outlook would improve.
INVESTMENT VIEW
BASF may close down Ciba operations in India
INVESTMENT VIEW
BASF may close down Ciba operations in India
BASF SE is looking at selling or shuttering half of newly-acquired Ciba Holding AG's production sites and offices in a plan that would cost 3,700 jobs at the combined company. Ludwigshafen-based BASF, the world's largest chemical company by sales, said it was reviewing the sale or closure of 23 of the 55 worldwide Ciba production sites and that it would come to a decision on the matter in the first quarter of 2010. BASF said it also aims to consolidate 36 of Ciba's 70 sales and administrative offices and research sites with existing BASF activities.
The majority of the 3,700 jobs at Switzerland-based Ciba would be cut by the end of 2010, though the reduction would not be complete until the end of 2013. This is unfortunately not good news for some of it's employees. But the combined businesses can be successful in the long term only if the merged entity can optimize operations, resources and exploit the full potential for synergies.
BASF has been hard hit by the global recession as demand has dropped off for the company's products, ranging from crude oil to fertilizers to paints, and has cut back sharply on output and instituted other programs to reduce labor like shortening workers' hours. The plant and staff reductions at Ciba were expected since the announcement of the acquisition last September. The tie-up was valued at around euro4 billion at the time. Ciba, which makes products including chemicals, plastics and coatings for the automotive, paper and personal care market, employs 12,500 people around the world.
(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.)
(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
