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| *LTP stands for Last Traded Price as on Tuesday, September 28, 2010 4:05:05 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. |
DLF
We recommend a buy in the stock with tight stop-loss at Rs 373 levels.
ICICI Bank
Avoid trading in this stock as the near-term stance is cautious.
Infosys
Fresh short position can be initiated if the stock fails to surpass Rs 3,030 levels with fixed stop-loss.
L&T
Make use of dips to buy the stock with tight stop-loss at Rs 2,034 levels.
ONGC
Fresh short position is recommended only if ONGC slips below Rs 1,441 with stiff stop-loss.
Reliance Capital
Initiate fresh short position if the counter drops below Rs 802 levels with tight stop-loss.
Reliance Communications
The stock is experiencing selling interest at higher levels. Utilise rallies to sell the stock while maintaining tight stop-loss at Rs 172 levels.
Reliance Industries
Fresh long position is recommended only if the stock surges above Rs 1,013 levels with rigid stop-loss.
SBI
As long as SBI hovers above Rs 3,170 levels, the near-term stance stays positive. We recommend a buy with tight stop-loss at Rs 3,170 levels.
Nifty Futures
Fresh long position can initiated if Nifty Futures moves above 6,070 levels with stiff stop-loss.
Yoganand D.
BL Research Bureau
Bulk SMS ban affects alert-driven trading
| Excitement among retail investors is missing despite rally. |
R.Yegya Narayanan
Coimbatore, Sept. 28
With the ban on bulk SMS imposed by the Government last week ahead of the judgment in the Babri Masjid case having silenced the voluminous SMS alerts being sent by share broking houses to their clients, the volume of transactions in the retail segment appears to have taken a mild hit with a section of the brokers here.
But what has come as a relief to them is that with the market booming, the retail investors have been on their own placing orders with the brokers based on market movement and the inputs they get through the electronic media, access to which is available even within the premises of broking houses during trading hours.
Volumes fall
Speaking to Business Line here on Tuesday, Mr K. Annamalai, Managing Director, Annamalai Capital Services (P) Ltd, Coimbatore, and a former President of the Coimbatore Stock Exchange, said since the ban came into force, he had seen a discernible fall in the volume of transactions carried out by retail clients. Normally, in counters about which the investors get alerts through SMS from major corporate broking houses, the volume perks up by about 10-15 per cent depending on price level with low priced stocks, inviting more speculative investment than high-priced counters based on the SMS alerts.
He said major broking houses such as Enam, SBICAP Securities, etc and some private analysts send alerts to their clients during the course of the trading hours, giving their inputs about the likely movement of certain stocks and such SMS have influence on the trading decision of retail clients. But with the mobile handsets falling silent during trading (only in so far as such equity-alert SMS are concerned), the volume of alert-driven trading that would have otherwise taken place, but for the SMS ban has fallen by about 10-15 per cent. Mr Annamalai, whose company is a sub-broker of Enam Securities Direct Pvt Ltd, said the SMS ban did not otherwise have any significant impact on trading as the investors had ready access to the electronic media, providing live inputs about market behaviour and information about corporate performances based on which the investors could take a call about their investment decisions. But more importantly, with the market on a song, investors are making their own decisions on investment and with most of them being day traders, they look for only small gain in their investment before squaring off.
But what he missed, despite the booming market, was the zest in investment among the retail clients. He said when the Sensex reached its peak of 21,000 points during 2008, there was frenzied trading even among the retail investors and there was constant clamour for raising the trading limits from them as stocks soared higher and higher. Though the market is inching towards its historical peak now after sinking to 8,000 levels during early 2009, the excitement among the retail investors is missing.
F&O norms
Mr Annamalai reasoned that a possible factor could be the market has not been able to correctly anticipate the sectors or the individual counters that would lead the (present) rally. Many of the stocks in which the investors had taken position such as the Reliance group (of both brothers) shares, stocks in the infrastructure and telecom space and even traditional speculative counters such as the IFCI have not been able to reach their previous peaks, and investors who entered the market at the previous high are unable to exit them as the current rally has by passed many of these stocks. The tightening of the F&O norms and the restrictions on carrying over short positions overnight has also led to cautious trading by retail investors.
Reliance Cap awaits IRDA norms to list insurance arm
| Will be among front runners to seek banking licence. |
A shareholder walks past a hoarding at the Reliance Capital's AGM held in Mumbai on Tuesday.
Our Bureau (business line)
Mumbai, Sept. 28
Listing of its insurance business is one of the ways that Reliance Capital will unlock value in Reliance Life, Mr Anil Ambani, Chairman of the company, said at its AGM on Tuesday.
"IRDA is currently at an advanced stage of finalising the guidelines for the listing of life insurance companies. Once this is done, we will explore the possibility of creating value by listing our life insurance business," he said.
Reliance Capital will also be among the front runners to apply for a banking licence, should it be eligible when the regulators finalise guidelines for the same, said Mr Ambani.
The RBI, last month, had come out with a discussion paper on the revised guidelines for granting of banking licenses. Mr Ambani said that the company has regarded banking as a "high priority" sector with "huge potential opportunity". Reliance Capital, part of Reliance-Anil Dhirubhai Ambani Group, has interests in insurance, mutual funds and non-banking finance
Mr Ambani said that the Reliance Capital plans on having a presence across all segments in the exchange business. "We will soon have a 26 per cent stake in a commodities futures exchange. We entered the exchange business in late 2009."
Bonus issue
Reliance Capital announced a dividend of 65 per cent; Mr Ambani said the Board will consider a bonus issue next year.
The company took an enabling resolution to raising capital through equity dilution through the Qualified Institutional Placement route.
Today Market Update on http://www.indiabulls.com/securities/mailermis/morning-brief/morning-brief-29Sep2010.htm
| Buy / Sell (Sep 28, 2010) | |||||||
| Buy | Sell | Net | |||||
| FII | 3339.38 | 2766.25 | +573.13 | ||||
| DII | 1087.89 | 1993.21 | -905.32 | ||||
Arvind Parekh
+ 91 98432 32381
