Strong & Weak Stocks
This is list of 10 strong stocks:
Dish TV, Lupin, Indus Ind Bk, Tata Motors, Bharat Forge, Cipla, S Kumar, Chambal Fert, Bharti Artl & M&M.
And this is list of 10 Weak Stocks
Hind Const, India Info, Unitech, HDIL, LIC Housing, RCOM, Jindal SWHL, Finan Tech, SCI & Orbit Corp.
The daily trend of nifty is in Down trend
Scripts to watch today : ACC, AxisBank, BPCL, DLF, HDFCBank, ICICIBank, LT, Maruti, ONGC, Reliance, Sterlite, TataMotors, TataPower, Tisco.
| Tip for the day | |||||||||||||||||||||||||||||||||||||||||
HITACHI HOME (BUY)
PAREKH ALUMINEX (BUY)
GANESH HOUSING CORPORATION (BUY)
UFLEX (BUY)
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Derivative Stratagies on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-strategy-02-Dec-2010.htm
| Market Outlook | ||
Yesterday, Nifty rallied over 100 points and closed well above 5,950 level as India's manufacturing sector grew at its fastest pace in six months in November, boosted investor's sentiment. Further, Good GDP numbers is a welcome relief for the stock market and is helping in the recovery on indices . Nifty is likely to face stiff resistance near 6,044 - 6,064 level. The immediate support for Nifty comes at 5,865 level and only if Nifty closes below this level, we may see some selling pressure which will drag Nifty to 5,778 level. On the derivatives front the Nifty December Futures prices inclined along with incline in open interest with positive cost of carry indicating fresh long position is being is initiated at current level. There was significant short accumulation was witnessed in OTM Put options. Most of the open interest accretion witnessed in the range of 5900 to 5700 Puts. We are observing rapid addition in 5800 and 5900 Puts with OI over 6.99 million and 4.32 million, which indicating that covered Put writers are shifting their positions from 5700 to 5900 Put. Indian market is likely to open gap up tracking strong cues from global markets which rose as better than expected Chinese and European manufacturing activity and U.S. jobs fueled investor's sentiment. Buying interest could be witnessed in Banking, Capital goods, Auto stocks. | ||
| US markets | ||
| US stocks ended higher after latest batch of largely upbeat economic data gave investors' confidence the US economy is improving. Kicking off the day's influx of economic news was a report from payroll processor ADP, which said private sector employment increased by 93,000 jobs in November. Meanwhile, manufacturing index edged down to 56.6 in November from 56.9 in October. Despite the decrease, the reading coming in above 50 signified continued growth in the manufacturing sector. Separately, construction spending increased by 0.7% in October, surprising economists who had expected spending to fall by 0.5%.In the afternoon, the Fed reported that conditions in its 12 districts continued to improve based on a continued recovery in both the service and manufacturing sectors. In other news, major automakers reported strong US vehicle sales in November amid growing consumer demand in an improving economy. General Motors, Ford Motor and Chrysler Group LLC saw double digit sales growth, while Toyota Motor was the only major automaker to report a drop in sales. | ||
| European markets | ||
| European markets rose as upbeat manufacturing reports from China as well as a number of European nations helped improve risk appetite. Miners, banks and auto makers led the broad-based advance. In economic news from Europe, the Markit Economics Purchasing Managers' Index for the euro zone, an indicator of overall manufacturing activity, rose to 55.3 in November from 54.6 in the prior month. Manufacturing activity in the UK hit a sixteen-year high in November. The Chartered Institute of Purchasing & Supply purchasing managers' index rose to 58.0 from 55.4 in October, countering the consensus forecast for a decline to 54.7.The manufacturing PMI for Germany increased to 58.1 in November from 56.6 in October, while the French purchasing managers' index for the manufacturing sector improved to 57.9 from 55.2 in October. In Ireland, the seasonally adjusted NCB manufacturing purchasing managers' index rose to 51.2 in November from 50.9 in October. Meanwhile, the standardized unemployment rate in Ireland edged down to 13.5% in November from 13.6% in the prior month. | ||
| Indian markets (Prev Day) | ||
| The domestic bourses ended on a robust note, marking its third straight session winning streak. The market started off the session on a positive note carrying forward the previous session's upward momentum despite of weakness in the global front. The Asian stocks were mostly trading in the negative terrain tracking an overnight loss in the US market on concern that financial troubles of less fiscally responsible countries in the eurozone territory may spread into the global financial system. Meanwhile, the Japanese market was also trading lower after analysts slashed investment recommendations and the euro depreciated to an 11-week low versus the yen, damping the outlook for export earnings. The strength in the Indian market came in on the back of strong GDP data which was reported yesterday. The market continued to trade strong and gradually journeyed northwards. Soon the benchmarks breached the 5,900 levels on Nifty on the back of substantial buying across sectors. The HSBC Market Purchasing Managers'' Index data which came in during mid-session showed that India''s manufacturing sector grew at its fastest pace in six months in November, thanks to robust new business and a sharp rise in export orders. The Index, based on a survey of 500 companies, surged to 58.4 from 57.2 in October. Further momentum was attained by the benchmarks and the Nifty was seen crossing the 5,950 mark. Finally the market managed to hold on the gains and the benchmarks closed near their intraday highs. In the sectorial front, the Metal, Realty and Banking space remained the major contributors to the splendid market rally during the session and surged by 3.39%, 3.11% and 2.96% respectively. However, the IT space remained comparatively quiet after two sessions of decent gains and inclined by mere 0.11%. Both the Nifty and Sensex showed significant strength throughout the session and managed to near their respective session highs. The NSE Nifty closed above the 5,950 mark, while the BSE Sensex closed above the 19,800 level. | ||
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