Market Outlook 15th Sep 2010

Strong & Weak Stocks

This is list of 10 strong stocks: 

Godrej Ind, DISH TV, Canara Bank, Renuka, Opto Circuits, Ultra Cem, ICICI Bank, SBI, Ispat Ind & Tisco. 

And this is list of 10 Weak Stocks: 

GSPL, Hero Honda KS Oils, Sesa Goa, Cairn India, RCOM, IFCI, EKC, GT Offshore & Orchid Chem.   

The daily trend of nifty is in Uptrend 

Market is going up steadily but now some correction is required in the market so that it comes near its support and then resume its upward momentum. And as the trend is still up so the readers who had bought Nifty on 7th September may go on holding the longs.
    

• Supp / Resis SPOT/CASH LEVELS FOR INTRADAY

Indices		Supp/Resis	1	2	3
	Nifty	Resistance	5835.90	5876.25	5914.05
		Support	5757.75	5719.95	5679.60
	Sensex	Resistance	19483.28	19619.59	19752.17
		Support	19214.39	19081.81	18945.50

 

SUPPORT / RESISTANCE LEVELS IN CASH/ SPOT MARKET FOR INTRADAY TRADING

Company Name  Exchange LTP* R1 #1 S1 @1 R2 #2 S2 @2 R3 #3 S3 @3 Bank of Baroda NSE 871.10 887.55 858.40 904.00 845.70 916.70 829.25 Bank of India NSE 496.65 502.40 492.50 508.15 488.35 512.30 482.60 Banking Index Benchmark Exchange Traded Scheme (Bank BeES) NSE 1207.08 1214.05 1195.05 1221.03 1183.03 1233.05 1176.05 Cairn India Ltd. NSE 326.65 329.70 324.75 332.75 322.85 334.65 319.80 Dish TV India Ltd. NSE 58.55 59.80 56.90 61.05 55.25 62.70 54.00 Eveready Industries India Ltd. NSE 75.05 77.13 73.83 79.22 72.62 80.43 70.53 Everest Industries Ltd. NSE 273.60 278.63 268.78 283.67 263.97 288.48 258.93 Everest Kanto Cylinder Ltd. NSE 113.25 115.57 111.87 117.88 110.48 119.27 108.17 Everonn Education Ltd. NSE 636.35 646.17 625.27 655.98 614.18 667.07 604.37 Godrej Consumer Products Ltd. NSE 398.05 408.37 389.87 418.68 381.68 426.87 371.37 Godrej Industries Ltd. NSE 237.70 244.27 233.17 250.83 228.63 255.37 222.07 Great Eastern Shipping Company Ltd. NSE 306.90 311.78 303.98 316.67 301.07 319.58 296.18 Great Offshore Ltd. NSE 393.70 400.70 389.40 407.70 385.10 412.00 378.10 Gujarat Fluorochemicals Ltd. NSE 217.00 222.52 213.87 228.03 210.73 231.17 205.22 Gujarat Mineral Development Corporation Ltd. NSE 134.25 136.58 132.08 138.92 129.92 141.08 127.58 Gujarat Narmada Valley Fertilisers Company Ltd. NSE 125.30 127.43 123.93 129.57 122.57 130.93 120.43 Gujarat NRE Coke Ltd. NSE 65.65 67.07 64.07 68.48 62.48 70.07 61.07 Gujarat State Petronet Ltd. NSE 108.55 111.87 106.57 115.18 104.58 117.17 101.27 Hero Honda Motors Ltd. NSE 1721.70 1739.40 1709.50 1757.10 1697.30 1769.30 1679.60 ICICI Bank Ltd. NSE 1100.15 1113.93 1089.18 1127.72 1078.22 1138.68 1064.43 IFCI Ltd. NSE 58.90 60.23 57.98 61.57 57.07 62.48 55.73 Ispat Industries Ltd. NSE 21.25 22.33 20.63 23.42 20.02 24.03 18.93 K S Oils Ltd. NSE 49.95 50.83 49.43 51.72 48.92 52.23 48.03 NSE Index NSE 5795.55 5835.90 5757.75 5876.25 5719.95 5914.05 5679.60 Opto Circuits India Ltd. NSE 311.50 318.57 303.87 325.63 296.23 333.27 289.17 Orchid Chemicals & Pharmaceuticals Ltd. NSE 185.45 187.77 183.87 190.08 182.28 191.67 179.97 Reliance Capital Ltd. NSE 801.75 814.45 783.20 827.15 764.65 845.70 751.95 Reliance Communications Ltd. NSE 162.15 164.15 160.80 166.15 159.45 167.50 157.45 Reliance Industrial InfraStructure Ltd. NSE 882.45 895.80 874.70 909.15 866.95 916.90 853.60 Reliance Industries Ltd. NSE 988.15 999.32 980.67 1010.48 973.18 1017.97 962.02 Reliance Infrastructure Ltd. NSE 1057.10 1076.02 1045.17 1094.93 1033.23 1106.87 1014.32 Reliance Natural Resources Ltd. NSE 39.40 40.13 38.73 40.87 38.07 41.53 37.33 Reliance Power Ltd. NSE 158.15 160.40 156.00 162.65 153.85 164.80 151.60 Sesa Goa Ltd. NSE 319.15 326.77 314.52 334.38 309.88 339.02 302.27 State Bank of India NSE 3109.55 3156.20 3072.70 3202.85 3035.85 3239.70 2989.20 State Trading Corporation Of India Ltd. NSE 409.50 414.83 406.13 420.17 402.77 423.53 397.43 UltraTech Cement Ltd. NSE 1045.50 1063.22 1030.07 1080.93 1014.63 1096.37 996.92

*LTP stands for Last Traded Price as on Tuesday, September 14, 2010 4:04:28 PM

#1R1   stands for Resistance level 1                         @1S1   stands for Support level 1

#2R2   stands for Resistance level 2                         @2S2   stands for Support level 2

#3R3   stands for Resistance level 3                         @3S3   stands for Support level 3

The levels given above are with respect to previous closing price on the NSE / BSE.

 

  Corporate News Headline

•

ABB India announced that it would acquire Bangalore based Metsys Engineering and Consultancy. The deal size is estimated to be about Rs. 850 mn. (BS)

•

BHEL bagged a Rs. 26.65 bn order for supply and installation of the main plant package for Dainik Bhaskar Power Limited's 2x600 MW coal-based thermal power project at Chhattisgarh. (BS)

•

United Spirits said it has inked a deal to acquire a 54.69% stake in Pioneer Distilleries Ltd for Rs. 739.5 bn. (BS)

 

  Economic and Political Headline

•

India's wholesale price index inflation rose 8.5% annually in August, based on a new data series, its second straight month of decline. The data was the first with a different base year of 2004-05, new components and weightings. Under the old series, August inflation was 9.5%. The food price index rose 14.64% in August year-on-year, while the fuel price index was up 12.55%. (BS)

•

Sales at US retailers rose in August for a second month, easing concern the economy will stumble in the second half of the year. Purchases increased 0.4% following a 0.3% gain in July that was smaller than estimated, Commerce Department figures showed. (Bloomberg)

•

UK inflation unexpectedly exceeded the government's 3% limit for a sixth month in August as higher costs of items from air fares to food stoked price pressures in the economy. Consumer prices rose 3.1% from a year earlier, the same pace as in July, the Office for National Statistics said in London. (Bloomberg)

 

Today Market Update on http://www.indiabulls.com/securities/mailermis/morning-brief/morning-brief-15Sep2010.htm

Buy / Sell (Sep 14, 2010)
	Buy					Sell	Net
FII	4102.02					2450.60	+1651.42
DII	1233.86					2358.16	-1124.20

 

*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