 Corporate News Headline | |
| • | L&T bagged six orders worth Rs. 11.81 bn for construction of power transmission line and sub-station works. Three of these six orders worth Rs. 7.41 bn have been secured from the Gulf markets and the other orders worth Rs. 4.40 bn are for domestic projects. (BS) |
| • | Essar Oil said it would seek shareholders' approval next month to raise up to USD 1.7 bn to finance the firm's expansion plans. (BS) |
| • | Oil & Natural Gas Corporation approved investing Rs. 32.40 bn for the first phase development of three marginal fields located in Mumbai offshore on the western coast. (BS) |
 | |
| Economic and Political Headline | |
| • | India's food price index rose 16.22% in the 12 months to March 13, while the fuel index was up 12.68%, government data showed. The rise in the food price index was lower than an annual rise of 16.30% in the previous week. The primary articles index was up 13.88% year-on-year on March 13. (BS) |
| • | Initial jobless claims fell to the lowest level in six weeks as the rebound in the US economy encourages companies to make fewer cuts in payrolls. First-time jobless applications declined 14,000 in the week ended March 20 to 442,000, lower than anticipated, Labor Department figures showed in Washington. (Bloomberg) |
| • | The cost of goods leaving South African factories and mines rose at a faster pace in February than the previous month, increasing the likelihood the central bank will keep its benchmark interest rate unchanged today. Producer-price inflation accelerated to 3.5% from 2.7% in January, Pretoria-based Statistics South Africa said on its Web site. (Bloomberg) |
 | 5260.40 | ( 0.67 %) | 35.10 |  |
| 1 | 2 | 3 | ||
| Resistance | 5284.15 | 5307.90 | 5348.50 | |
| Support | 5219.80 | 5179.20 | 5155.45 | |
 | 17558.85 | ( 0.62 %) | 107.83 | | |
| 1 | 2 | 3 | |||
| Resistance | 17628.32 | 17697.78 | 17820.34 | ||
| Support | 17436.30 | 17313.74 | 17244.28 | ||
Strong & Weak Stocks
This is list of 10 strong Stocks:
Patni, Hero Honda, JSW Steel, Dr Reddy, India Cement, Hindalco, Cairn India, Cipla, Hdfc Bank & PNB.
And this is list of 10 Weak Stocks:
Bajaj Hind, Balrampur Chini, Tulip, Hind Petro, DCB, Nagarjuna Fertil, BPCL, KFA, KS Oils & ICSA.
Nifty is in Up trend
NIFTY FUTURES (F & O):
Rally may continue up to 5292-5294 zone for time being.
Support at 5255 & 5263 levels. Below these levels, expect profit booking up to 5229-5231 zone and thereafter slide may continue up to 5204-5206 zone by non-stop.
Buy if touches 5179-5181 zone. Stop Loss at 5154-5156 zone.
On Positive Side, cross above 5317-5319 zone can take it up to 5341-5343 zone by non-stop. If crosses & sustains this zone then uptrend may continue.
Short-Term Investors:
Bullish Trend.
Up Side Target at 5429.95.
Stop Loss at 5106.55.
Equity:
RELIANCE (NSE Cash)
Yesterday's rally in line with expectations & Speculative too.
If rally continues, then it can zoom up to 1117.60 level by non-stop.
If profit booking starts, then it can tumble up to 1076.40 level and have
caution.
INFOSYSTCH (NSE Cash)
Yesterday's rally in line with expectations & Speculative too.
If rally continues, then it can zoom up to 2890.15 level by non-stop.
If profit booking starts, then it can tumble up to 2750.85 level and have
caution.
HDFC (NSE Cash)
Yesterday's selling could be considered as a speculative selling.
If fall continues, then it can tumble up to 2497.50 level by non-stop.
If short covering starts, then it can zoom up to 2674.20 level by non-stop
and have caution.
ICICIBANK (NSE Cash)
Yesterday's rally was surprising & speculative buying too.
If rally continues, then it can zoom up to 969.40 level by non-stop.
If profit booking starts, then it can tumble up to 912.60 level and have
caution.
OPTIONS (NSE):
NIFTY 5300 CALL OPTION
Yesterday's rally in line with expectations. But speculative rally too.
If rally continues, then it can zoom up to 112.50 level by non-stop.
If profit booking starts, then it can tumble up to 57.50 level and have
caution.
RPOWER 150 CALL OPTION
Yesterday's rally in line with expectations. Real Buying too.
If rally continues, then it can zoom up to 9.70 level by non-stop.
If profit booking starts, then it can tumble up to 3.80 level and have
caution.
STOCK FUTURES (NSE):
GMRINFRA FUTURES
Rallied on yesterday & in line with expectations. Bulls beaten expectations & Bulls should not get panic at lower levels.
If rally continues, then it can zoom up to 62.90 level by non-stop.
If profit booking starts, then it can tumble up to 56.85 level and have
caution.
HINDALCO FUTURES (5 Trading Days Holding)
Bulls may fell short of expectations in next 5 trading days. Yesterday's rally was speculative in nature.
Buy with a Stop Loss of 169.80 level with a Target of 190.70 level. This scrip may even touch 191.50 level in next 5 trading days.
Stop Loss for next 5 trading days, can be kept at 169.00 level.
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 25-Mar-2010 | 5099.04 | 4445.82 | 653.22 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 25-Mar-2010 | 1633.81 | 1790 | -156.19 |
Disclosure: I don't have any positions in the above said scrips & NIFTY FUTURES.
Disclaimer:
"I do not make any warranties, express or implied, as to results to be obtained from using the information in this e-letter. Investors should obtain individual financial advice based on their own particular circumstances before making any investment decisions based upon information in this report."
Arvind Parekh
+ 91 98432 32381
