Market Outlook 22nd April 2010

 Strong & Weak  Stocks

This is list of 10 strong stocks

Pir Health, DCB, Indusind Bank, Sintex, Polaris, Concor, GE Shiping, Zeel, Allahabad Bank & Titan

And this is list of 10 Weak stocks:

Triveni, Renuka, Sail Ltd, Bajaj Hind, BEL, Hind Petro, ONGC, McDowell, Dr Reddy & Uniphos.

The daily trend of nifty is in downtrend
 

Today Market Update on http://www.indiabulls.com/securities/mailermis/morning-brief/morning-brief-22Apr2010.htm Derivatives EOD Report on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-EOD-21-Apr-2010.htm   Corporate News Headline
•	TCS will provide Rolls-Royce with a range of engineering services across the entire product cycle. As part of the agreement, TCS will support and enable Rolls-Royce strategy to expand its engineering services footprint in India. TCS will set up an engineering centre to cater to Rolls-Royce design and engineering requirement in Bangalore. (BS)
•	HCL Technologies net profit rose 72% at Rs. 2.62 bn for the third quarter ended March 31, over the same period last year. The total income of the company rose to Rs. 12.87 bn from Rs. 10.48 bn in the same quarter previous fiscal. (BS)
•	Hindustan Zinc's net profit surged over two-fold to Rs. 12.39 bn for the fourth quarter ended March 31, 2010. (BS)
Economic and Political Headline
•	The RBI is looking to reverse its expansionary monetary policy stance over a period of time and cannot be certain that the reverse repo rate will remain its operative rate. "We can't assure reverse repo rate will be the operative rate. Ideally we will like the operative rate to be in the middle of the liquidity adjustment facility corridor, but that's difficult to maintain at that level," Subbarao said. (BS)
•	UK jobless claims fell more than forecast in March. The number of people collecting jobless benefits fell 32,900 from February to 1.54 million, the Office for National Statistics said in London. (Bloomberg)
•	The International Monetary Fund raised its forecast for global growth this year and cautioned that a failure of nations to contain soaring public debt might have "severe" consequences for the world economy. The IMF said the economy will expand 4.2% in 2010, the fastest pace since 2007, compared with a January projection of 3.9%. (Bloomberg)

 

NIFTY/CASH SPOT INDEX LEVELS TODAY

	5244.90	( 0.28 %)	14.80
		1	2	3
Resistance		5264.03	5283.17	5300.03
Support		5228.03	5211.17	5192.03

	17472.56		( 0.07 %)	11.98
			1	2	3
Resistance			17543.24	17613.91	17662.28
Support			17424.20	17375.83	17305.16

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
FII	21-Apr-2010	2730.87	2647.91	82.96

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	21-Apr-2010	1181.12	1155.87	25.25

 

 NIFTY FUTURES (F & O):
Above 5253-5255 zone, rally may continue up to 5258 level and thereafter expect a jump up to 5266-5268 zone by non-stop.

Support at 5229 & 5235 levels. Below these levels, expect profit booking up to 5214-5216 zone and thereafter slide may continue up to 5201-5203 zone by non-stop.

Buy if touches 5196-5198 zone. Stop Loss at 5183-5185 zone.

On Positive Side, cross above 5271-5273 zone can take it up to 5284-5286 zone by non-stop. If crosses & sustains this zone then uptrend may continue.
 
Short-Term Investors: 
 Bullish Trend.

Up Side Target at 5367.70.

Stop Loss at 5162.30.
 
STOCK FUTURES (NSE):
YESBANK FUTURES:

Real Buying taken place on yesterday. If rally continues, then it can zoom up to 290.20 level by non-stop. If Profit Booking Starts, then expect slide up to 257.05 level and have caution.
PANTALOONR FUTURES (5 Day's Holding):

Real Buying taken place in last 5 Trading Days. If rally continues, then it can zoom up to 470.00 level by non-stop. If Profit Booking Starts, then expect slide up to 407.10 level and have caution.

OPTIONS (NSE):
NIFTY 5300 CALL OPTION:

Yesterday's rally was speculative too. Do not get excited too. If rally continues, then it can zoom up to 34.80 level by
non-stop. If Profit Booking Starts, then expect slide up to 11.40 level and have caution.
 
RPOWER 160 CALL OPTION:

Real Buying taken place on yesterday. If rally continues, then it can zoom up to 5.20 level by non-stop. If Profit Booking Starts, then expect slide up to 1.50 level and have caution.

Equity:
AXISBANK (NSE Cash)

Axis Bank again demonstrated its ability to grow at a faster pace than the industry. During the fourth quarter, the bank reported a growth of 28% in its loan book, significantly higher than the rate of 17% clocked by the industry, after loan growth had slipped to 12.5% in the quarter-to-December '09. 

Technicals:

Speculative Rally on yesterday. Do not get excited too. If rally continues, then it can zoom up to 1294.40 level by non-stop. If Profit Booking

Starts, then expect slide up to 1180.40 level and have caution.
 
IBREALEST (NSE Cash)

Many of key projects in Mumbai commenced sales, impact likely to start from current quarter. 

Technicals:

Real Buying taken place on yesterday. If rally continues, then it can zoom up to 177.95 level by non-stop. If Profit Booking Starts, then expect slide up to 168.00 level and have caution
 

 

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