Tuesday, March 30, 2010

Market Outlook 30th March 2010

  Corporate News Headline
Hindustan Dorr - Oliver has bagged orders worth Rs. 2.67 bn in various sectors from different clients including Indian Oil Corporation. (BS)
IVRCL Infrastructures & Projects said its water division has bagged orders worth Rs. 8.67 bn from various vendors. The Company has bagged a contract worth Rs. 3.22 bn from Water Resources Department, Birpur for various civil works, including renovation and modernization of Eastern Kosi Canal System. (BS)
Larsen & Toubro bagged an order worth Rs. 14.00 bn from the Indian Oil Corporation to develop reactor for fuel refinery at Orissa. (BS)
  Economic and Political Headline
Reserve Bank of India will sell Rs. 2.87 tn of bonds in the first half of 2010/11, 63% of its record full year target. On an average, Rs. 110-150 bn of issuance would come to the market every week, Shyamala Gopinath, deputy governor of the RBI said after officials of the central bank and the finance ministry met to finalize the first-half borrowing schedule. (ET)
Consumer spending in the US rose in February for a fifth consecutive month, a rebound that will require gains in employment to be sustained. The 0.3% increase in purchases matched followed a 0.4% advance in January, Commerce Department figures showed. (Bloomberg)
European confidence in the economic outlook improved to the highest in almost two years in March, beating economists' forecasts and signaling the recovery is gathering strength as a weaker euro helps exporters. An index of executive and consumer sentiment in the 16 nations using the euro rose to 97.7 from 95.9 in February, the European Commission in Brussels said. (Bloomberg)

SPOT INDEX LEVELS TODAY
NSE Nifty Index   5302.85 ( 0.39 %) 20.85       
 1 23
Resistance 5340.885378.92   5428.28  
Support 5253.485204.12 5166.08

BSE Sensex 17711.35 ( 0.38 %) 66.59      
 1 23
Resistance 17789.8517868.34 17943.68
Support 17636.0217560.68 17482.19

Strong & Weak  futures 
This is list of 10 strong stocks: 
Indusind Bank, Hindalco, Hdfc Bank, Sun Pharma, Chennai Petro, Orient Bank, Bajaj Auto, Triveni, Patni & Ambuja Cement.  
And this is list of 10 Weak stocks: 
Bajaj Hind, Renuka, Tulip, Balrampur Chini, Mphasis, Neyveli Lignite, DCB, Purva, HDIL & KFA.
The daily trend of nifty is in Up trend  since 16th February

NIFTY FUTURES (F & O): 
Above 5330-5332 zone, rally may continue up to 5338 level and thereafter expect a jump up to 5354-5356 zone by non-stop. 
Support at 5302 & 5309 levels. Below these levels, expect profit booking up to 5275-5277 zone and thereafter slide may continue up to 5251-5253 zone by non-stop. 
Buy if touches 5243-5245 zone. Stop Loss at 5219-5221 zone. 
On Positive Side, cross above 5362-5364 zone can take it up to 5386-5388 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.

STOCK FUTURES (NSE):
LICHSGFIN FUTURES 
Real buying taken place on yesterday. Bulls should not get panic at lower levels.  

If rally continues, then it can zoom up to 1031.70 level by non-stop. 
If profit booking starts, then it can tumble up to 814.30 level and have
caution.

HOTELEELA FUTURES (4 Trading Days Holding) 
Real buying on yesterday. Bulls should not get panic at lower levels in next 4 trading days.  

If rally continues, then it may continue up to 50.80 level in next 4 trading days. 

If profit booking starts, then it can slide up to 47.00 level in next 4 trading days.

OPTIONS (NSE):
NIFTY 5300 CALL OPTION 
Speculative rally on yesterday & not impressed too. 

If rally continues, then it can zoom up to 128.60 level by non-stop. 
If profit booking starts, then it can tumble up to 96.00 level and have
caution.

HINDALCO 190 CALL OPTION 
Real buying on yesterday & Bulls should not get panic at lower levels. 

If rally continues, then it can zoom up to 7.55 level by non-stop. 
If profit booking starts, then it can tumble up to 2.35 level and have
caution.

Equity:
RUCHINFRA (NSE Cash) (Intra-Day) 
Real buying on yesterday & Bulls should not get panic at lower levels. 
 
If rally continues, then it can zoom up to 66.50 level by non-stop. 

If profit booking starts, then it can tumble up to 45.40 level and have
caution.

NMDC (NSE Cash) (Intra-Day) 
Real selling on yesterday & Bears should not get panic at higher levels. 

If fall continues, then it can tumble up to 255.35 level by non-stop. 
If short covering starts, then it can zoom up to 299.05 level and have caution.

MUNDRAPORT (NSE Cash) (Intra-Day) 
Real buying on yesterday & Bulls should not get panic at lower levels. 
 
If rally continues, then it can zoom up to 796.60 level by non-stop. 
If profit booking starts, then it can tumble up to 738.50 level and have
caution.

RENUKA (NSE Cash) (Intra-Day) 
Speculative buying on yesterday & Don't get excited too. 

If rally continues, then it can zoom up to 80.50 level by non-stop. 
If profit booking starts, then it can tumble up to 70.70 level and have
caution.

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category DateBuy Value Sell ValueNet Value
FII29-Mar-2010 2950.311887.49 1062.82
DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category DateBuy Value Sell ValueNet Value
DII29-Mar-2010 1346.851617.3 -270.45

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