Strong & Weak Stocks
This is list of 10 strong stocks
DCB, Pir Health, Zeel, Polaris, Uco Bank, Sintex, Nagarjuna Const, Indusind Bank, GE Shiping & Allahabad Bank.
And this is list of 10 Weak Stocks
Triveni, Renuka, Bajaj Hind, McDowell, BEL, Punj Lloyd, Uniphos, Educomp, ONGC & Tech Mahindra.
The daily trend of nifty is in downtrend
SPOT / CASH INDEX LEVELS TODAY
 | 5269.35 | ( 0.47 %) | 24.45 |  |
| 1 | 2 | 3 | ||
| Resistance | 5327.07 | 5384.78 | 5437.77 | |
| Support | 5216.37 | 5163.38 | 5105.67 | |
 | 17573.99 | ( 0.58 %) | 101.43 | | |
| 1 | 2 | 3 | |||
| Resistance | 17765.55 | 17957.10 | 18135.87 | ||
| Support | 17395.23 | 17216.46 | 17024.91 | ||
 Corporate News Headline | |
| • | ACC's consolidated net profit for the quarter ended March 31, 2010 registered a marginal fall as its units faced dispatch constraints due to the absence of railway wagons. According to a stock exchange filing, the consoidated net profit for the quarter ended March 31, 2010, was pegged at Rs. 3.93 bn, down 1.6% compared to the corresponding quarter of the previous fiscal. (BS) |
| • | Bharat Forge said it has launched its USD 150 mn private placement issue on April 21. (BS) |
| • | NTPC is likely to sign contracts next week to buy an additional 1.51 million cubic meters a day of gas from Reliance Industries at government-approved price of USD 4.2 per mmBtu. (BS) |
 | |
| Economic and Political Headline | |
| • | India's annual food and fuel inflation quickened in the week to April 10. The food price index rose 17.65% in the 12 months to April 10, marginally higher than an annual rise of 17.22% in the previous week. The fuel price index rose 12.45% in the 12 months to April 10, a tad higher than an annual rise of 12.43% in the previous week. (BS) |
| • | European consumer confidence improved to the highest in almost two years in April, suggesting an export-led recovery may start to feed into household spending. An index of consumer sentiment in the 16-nation euro region rose to minus 15.2 from a revised minus 17.3 in March, the European Commission said in an initial estimate. (Bloomberg) |
| • | Sales of US previously owned homes rose in March for the first time in four months as buyers took advantage of a government tax credit and the weather improved. Purchases climbed 6.8% to a 5.35 million annual rate, from a 5.01 million pace in February, figures from the National Association of Realtors showed in Washington. (Bloomberg) |
NIFTY FUTURES (F & O):
Above 5289 level, rally may continue up to 5305-5307 zone and thereafter expect a jump up to 5336-5338 zone by non-stop.
Support at 5238 & 5255 levels. Below these levels, expect profit booking up to 5189-5191 zone and thereafter slide may continue up to 5158-5160 zone by non-stop.
Buy if touches 5143-5145 zone. Stop Loss at 5112-5114 zone.
On Positive Side, cross above 5352-5354 zone can take it up to 5383-5385 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):
UCOBANK FUTURES:
Real Buying taken place on yesterday. If rally continues, then it can zoom up to 68.35 level by non-stop. If Profit Booking
Starts, then expect slide up to 59.65 level and have caution.
CHAMBLFERT FUTURES (5 Day's Holding):
Real Buying taken place in last 5 Trading Days. If rally continues, then it can zoom up to 68.05 level by non-stop. If Profit Booking Starts, then expect slide up to 60.10 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 73.95 level by non-stop. If Profit Booking Starts, then expect slide up to 18.00 level and have caution.
CHAMBLFERT 65 CALL OPTION:
Real Buying taken place on yesterday. If rally continues, then it can zoom up to 1.55 level by
non-stop. If Profit Booking Starts, then expect slide up to 0.45 level and have caution.
Equity:
SAIL (NSE Cash)
State-owned SAIL is rationalising its 1.16 lakh workforce across the country to remain globally competitive, Minister of State for Steel A Sai Prathap informed Parliament today.
"Rationalisation of manpower is a continual process in SAIL... Manpower rationalisation is being undertaken with the objective of remaining globally competitive, improving productivity and bringing down costs," he said in a written reply to Lok Sabha.
Technicals: SAIL
Yesterday's rally was surprising. Speculative too & Do not get excited too. If rally continues, then it can zoom up to 229.20 level by non-stop. If Profit Booking Starts, then expect slide up to 218.00 level and have caution.
HCLTECH (NSE Cash)
Revenues grew in tune with peers but rupee appreciation dims overall outlook.
HCL Technologies reported a revenue growth of 21.4 per cent year-on-year (y-o-y) to $685.2 million (in constant currency terms) during the March quarter, up 5.1 per cent as compared to the previous quarter. Segment-wise, consolidated revenues from the information technology (IT) services grew nearly 25 per cent y-o-y and 6.6 per cent quarter-on-quarter (q-o-q).
Technicals: HCLTECH
Speculative Buying taken place on yesterday & Do not get excited too. If rally continues, then it can zoom up to 403.90 level by non-stop. If Profit Booking Starts, then expect slide up to 369.10 level and have caution.
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 22-Apr-2010 | 3288.38 | 2770.08 | 518.3 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 22-Apr-2010 | 1608.22 | 1426.36 | 181.86 |
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."
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Arvind Parekh
+ 91 98432 32381
Arvind Parekh
+ 91 98432 32381
