Market Outlook 24th Sep 2010

Strong & Weak  futures 

This is list of 10 strong stocks

Punj Lloyd, Bhushan Steel, Ispat Ind, Tech Mahindra, Ranbaxy, HDFC Ltd, IDBI, Ambuja Cement, Moser Bear & Maruti. 

And this is list of 10 Weak stocks: 

Hind Const, Mcleodruss, BGR Energy, Divi'S Lab, HDIL, Ibrealest, Sintex, Orbit Corp, LITL & Polaris.

The daily trend of nifty is in Uptrend 

TRADING CALLS TODAY

SELL NIFTY SL 6050 T 5940 5880

SELL TITAN SL 3350 T 3250 3150

SELL RELINFRA SL 1072 T 1051 1033

SELL GTL SL 438 T 400 380

SELL HINDZINC SL 1084 T 1030 990
SELL SUNPHARMA SL 1976 T 1880 1850

SELL AXISBANK SL 1570 T 1440 1380

SELL BHUSANSTEEL SL 435 T 400 380

SELL DIVISLAB SL 728 T 690 660

SELL ISPAT SL 24 T 22 21

SELL SOUTHINDIAN SL 226 T 208 198

• Supp / Resis spot/cash levels for intraday

Indices		Supp/Resis	1	2	3
	Nifty	Resistance	6000.10	6040.65	6074.50
		Support	5925.70	5891.85	5851.30
	Sensex	Resistance	19982.34	20103.68	20209.03
		Support	19755.65	19650.30	19528.96

SUPORT/RESISTANCE LEVELS IN CASH MARKET FOR INTRADAY 

Company Name  Exchange LTP* R1 #1 S1 @1 R2 #2 S2 @2 R3 #3 S3 @3 Ambuja Cements Ltd. NSE 145.80 148.02 144.32 150.23 142.83 151.72 140.62 BGR Energy Systems Ltd. NSE 769.90 780.77 762.37 791.63 754.83 799.17 743.97 Bhushan Steel Ltd. NSE 429.00 435.03 423.58 441.07 418.17 446.48 412.13 Divi's Laboratories Ltd. NSE 708.85 714.60 703.20 720.35 697.55 726.00 691.80 HDFC Bank Ltd. NSE 2463.85 2479.42 2450.72 2494.98 2437.58 2508.12 2422.02 Hind Syntex Ltd. NSE 6.25 6.57 6.07 6.88 5.88 7.07 5.57 Hindalco Industries Ltd. NSE 189.70 191.97 187.62 194.23 185.53 196.32 183.27 Hindustan Construction Company Ltd. NSE 59.55 61.00 58.60 62.45 57.65 63.40 56.20 Hindustan Copper Ltd. NSE 444.95 451.17 440.37 457.38 435.78 461.97 429.57 Hindustan Motors Ltd. NSE 24.10 24.55 23.85 25.00 23.60 25.25 23.15 Hindustan Oil Exploration Company Ltd. NSE 239.40 243.67 236.07 247.93 232.73 251.27 228.47 Hindustan Petroleum Corporation Ltd. NSE 540.40 545.72 535.57 551.03 530.73 555.87 525.42 Hindustan Unilever Ltd. NSE 303.30 306.53 297.53 309.77 291.77 315.53 288.53 Hindustan Zinc Ltd. NSE 1069.45 1082.28 1054.33 1095.12 1039.22 1110.23 1026.38 IDBI Bank Ltd. NSE 147.50 149.20 145.40 150.90 143.30 153.00 141.60 Ispat Industries Ltd. NSE 23.20 23.80 22.50 24.40 21.80 25.10 21.20 Lanco Infratech Ltd. NSE 67.00 68.32 66.22 69.63 65.43 70.42 64.12 Maruti Suzuki India Ltd. NSE 1458.60 1470.92 1445.37 1483.23 1432.13 1496.47 1419.82 Moser Baer India Ltd. NSE 72.55 74.10 71.30 75.65 70.05 76.90 68.50 NSE Index NSE 5959.55 6000.10 5925.70 6040.65 5891.85 6074.50 5851.30 Orbit Corporation Ltd. NSE 123.85 126.10 122.30 128.35 120.75 129.90 118.50 Polaris Software Lab Ltd. NSE 169.95 174.25 167.10 178.55 164.25 181.40 159.95 Punj Lloyd Ltd. NSE 132.50 136.33 127.33 140.17 122.17 145.33 118.33 Punjab National Bank NSE 1270.75 1279.43 1262.63 1288.12 1254.52 1296.23 1245.83 Ranbaxy Laboratories Ltd. NSE 564.90 573.47 556.17 582.03 547.43 590.77 538.87 Sintex Industries Ltd. NSE 351.65 356.77 348.27 361.88 344.88 365.27 339.77 Tech Mahindra Ltd. NSE 800.90 811.77 791.02 822.63 781.13 832.52 770.27

*LTP stands for Last Traded Price as on Thursday, September 23, 2010 4:04:16 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

• IVRCL Ltd bagged orders worth Rs. 7.50 bn for four laning and improvement of Karanji-Wani Road Maharashtra State Highway - 6&7 in Yavatmal and Chandrapur district on DBFOT basis. (BS)

• JSW Steel will set up a high value electric steel plant, the first in the country, in Maharashtra. "We are planning to set up an electric steel plant in collaboration with JFE Holdings in Maharashtra" JSW Steel CFO said. (BS)

• L&T and Befula Investments Ltd have signed an agreement to incorporate a JV company Larsen & Toubro T&D SA (PTY) Ltd, to capitalise on the power transmission and distribution opportunity. (BS)

  Economic and Political Headline

• Food inflation rose to 15.46% for the week ended September 11, as heavy rains and floods disrupted supplies of essential items. On annual basis, cereal prices rose 6.75% driven mainly by higher prices of pulses, rice and wheat. While prices of pulses rose 4.01%, wheat and rice became costlier by 9.21% and 5.52%, respectively. Among other food items, milk prices soared 23.41% during the week compared to the same period last year, while that of fruits by 10.33%. (BS)

• Growth in Europe's services and manufacturing industries weakened in September, adding to evidence the recovery is losing steam. A composite index based on a survey of purchasing managers in both industries declined to 53.8 from 56.2 in August, Markit Economics said. (Bloomberg)

• Applications for US unemployment benefits unexpectedly rose last week, a sign companies remain cautious about hiring. Initial jobless claims increased by 12,000 to 465,000 in the week ended Sept. 18, Labor Department figures showed. (Bloomberg)

Today Market Update on http://www.indiabulls.com/securities/mailermis/morning-brief/morning-brief-24Sep2010.htm

Buy / Sell (Sep 23, 2010)
	Buy					Sell	Net
FII	3034.99					2500.44	+534.45
DII	872.74					1518.43	-645.69

*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