Wednesday, June 30, 2010

Market Outlook 30th June2010

Strong & Weak Stocks
This is list of 10 strong stocks: 
Hind Petro, GTL Infra, BPCL, ONGC, Aban Off shore, RCOM, RNRL, Bajaj Auto, Orchid Chem & BRFL.  
And this is list of 10 Weak Stocks
Grasim, Mphasis, Jindal Steel, HCL Tech, DCHL, Yes Bank, Sail, Pir Health, Hindalco & India Cement.
The daily trend of nifty is in Uptrend 

  • Supp / Resis
  •  spot levels/ cash levels
Indices Supp/Resis1 23
Nifty Resistance 5314.935373.72 5413.28
Support 5216.585177.02 5118.23
Sensex Resistance 17719.45 17904.81 18031.67
Support 17407.23 17280.37 17095.01

  Corporate News Headline
ONGC and its' partners will tomorrow sign contracts for half of 34 oil and gas blocks awarded in the latest round of auction under the New Exploration Licensing Policy. (BS)
State Bank of India fixed its benchmark lending rate at 7.5% following a Reserve Bank directive, a move that will end the practice of sub-prime loan to corporates. The rate will come into effect from July 1. (BS)
JSW Steel Ltd expects talks with Japan's JFE Holdings to close in another six months, Managing Director Sajjan Jindal said. JSW is in talks with JFE to sell 5-15% stake in the firm. (BS)
  Economic and Political Headline
Prime Minister Manmohan Singh said diesel prices too will be freed from government control as part of "much-needed reforms" but LPG and kerosene will continue to be subsidised. The fact that petrol prices have been set free, the same is going to be done to the diesel prices. (These are) much- needed reforms," he told journalists accompanying him on his way back home from Toronto where he attended the G-20 Summit. (BS)
Confidence among US consumers declined in June more than forecast as Americans became pessimistic about the outlook for the labor market and the economy. The Conference Board's confidence index slumped to 52.9 this month from a revised 62.7 in May, figures from the New York-based private research group showed. (Bloomberg)
European confidence in the economic outlook unexpectedly improved in June after reviving global growth and a drop in the euro bolstered the region's recovery. An index of executive and consumer sentiment in the 16 euro nations rose to 98.7 from 98.4 in May, the European Commission in Brussels said. (Bloomberg)

Buy / Sell (Jun 29, 2010)
 Buy SellNet
DII 1148.881263.59- 114.71
DII 1828.262089.41- 261.15

*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