Strong & Weak futures
This is list of 10 strong stocks
Hexaware, Praj Ind, Bata India, Polaris, Hind Oil, Ispat Ind, Sterlite, Aban, Hind Zinc & BalramPur Ch.
And this is list of 10 Weak Stocks
Recltd, Indian Bank, UCO Bank, Andhra Bank, Ibrealest, Oriental Bank, Bajaj Auto, Federal Bank, Hind Petro & HDIL.
The daily trend of nifty is in Up trend
Gap up opening ICICI Bank @ 1115 cover 1080 sl 1127,
Gap Down Buy Reliance Inds. @ 1070 trgt 1088 sl 1058,
long Buy Areva T & D @ 340 trgt 353 sl 332.
Break Out !!: Intraday calls On the Basis of Break out System (For Cash Segment only)
HDFCBank Buy above 2371 2380/2388/2399/2409 Stop 2345
HDFC Bank Sell Below 2330 2320/2310/2301/2291 Stop 2345
Break Out !!: Orchid Buy above 321 325/330/334/339 Stop 312
Orchid Sell Below 308 304/300/296/293 Stop 312
SBI Buy above 2753 2761/2769/2779/2789 Stop 2735
SBI Sell Below 2720 2710/2700/2690/2680 Stop 2735
Break Out !!: SesaGoa Buy above 340 343/346/349/353 Stop 335
SesaGoa Sell Below 332 328/325/321/318 Stop 335
Sterlite Buy above 196 198/200/203/205 Stop 193
Sterlite Sell Below 190 188/185/182/180 Stop 193
Break Out !!:
Nifty Spot Buy above 6165 6180/620/6215/6230
Nifty Spot Sell Below 6120 6105/6090/6075/6060
Scripts to watch on5th Jan. : ACC, Bhartiatl, Bhel, BPCL, Bajaj-Auto, DLF, HDFCBank, ICICIBank, IDFC, L&T, M&M, Maruti, ONGC, Reliance, SBI, TataMotors, TataPower, Tisco, Bajaj-Auto, DrReddy, HDFC, SesaGoa,
DErivative Trading Stratagy available on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-strategy-05-Jan-2011.htm
| Market Outlook | ||
Yesterday, Nifty opened gap up and faced strong resistance near 6,180 level. It snapped last four days gain and closed at 6146.35 mark due to profit booking in Banking and Realty stocks. From here, market could see a consolidation in the range of 6,080-6,225 with a strong support of 50 days moving average at 6,020. Today, Nifty is likely to open lower following negative clues from global markets. Thereafter, Nifty is likely to drift lower in morning session and could find support near 6,120-6,100 level. Resistance for Nifty now seems at 6,180-6,225 while support stand at 6,120-6,080. On upside if level of 6,180 breached decisively then we could see rise up to the mark of 6,225. On downside, the first support will be 6,120, followed by the 6,080. Volatility index, which is hovering around 15-17, is expected to shoot up to 20-21 in the coming days. The output of six key infrastructure sectors grew 2.3% in November 2010 from a year ago, the slowest pace in the last 21 months, raising the prospects of a drop in industrial growth for the month. However, the advance tax numbers were encouraging for the third quarter, clearly reflecting the continued good showing of Indian companies. It is likely that the market will move up in line with corporate earnings growth (estimated at 18-20% annually over the next two years) in the medium- to long-term. The markets have already witnessed mid- and small-cap segments underperforming relatively against the large-cap segment in the past months. From here on, we could see buying in these segments. Nifty is moving above 61.8% Fibonacci retracement level, sketched from the recent top and bottom (6,336 & 5700) and now likely to face stiff resistance at 71.4% level which stands at 6,180 level. Technical indicators like MACD, RSI are also supporting its uptrend move. MACD is showing positive divergence, crossing its signal line from the below. Further, MACD is above the zero line, would set-up for a more long-term. The RSI also looks strong at 62 with plenty of upside potential before any over-sold indications. | ||
| Tip for the day | ||||||||||||||||||||||||||||||||||||||||||
TECH MAHINDRA (BUY)
VARUN INDUSTRY (BUY)
ADVANTA (BUY)
MANDHANA (BUY)
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| US markets | ||
| US stocks ended mixed after minutes of Federal Reserve meeting showed that Federal Open Market Committee believe that the economy remains sluggish and the jobs situation too depressing for the central bank to consider halting the USD 600 billion asset purchase plan announced in November. A mix of profit taking and optimism following an unexpected increase in November factory orders also contributed to the uneven trading. Factory orders rose by 0.7% in November, while economists had expected orders to come in unchanged. Excluding orders for transportation equipment, factory orders jumped by 2.4% in November. In corporate news, Ford and General Motors posted their December US sales, which rose 6.7% and a 7.5%, respectively. Chrysler registered a surge of 16% for the month, rounding out results that surpassed expectations. | ||
| European markets | ||
| European stocks finished higher with miners and oil firms contributing most as commodity prices were boosted by strong manufacturing data from China, US and Europe. In economic news, the Markit/CIPS purchasing managers index for the British manufacturing sector rose in December to 58.3, the highest reading since 1994,from 57.5 in November. Annual inflation in the euro zone rose more than expected in December, and breached the European Central Bank's 2% target for the first time in more than two years. The harmonized consumer price index rose 2.2% year-on-year in December following November's 1.9% increase. The German jobless rate remained at 7.5% for the third straight month in December, while the seasonally adjusted number of unemployed rose by 3,000 In France, the consumer confidence index slipped to a seasonally adjusted -36 in December from -33 in the previous month | ||
| Indian markets (Prev Day) | ||
| Today, the domestic bourses ended the session on a weak note as the investors decided to book profit after the five straight sessions of decent gains. The market kicked off the session on a robust note, as the benchmark indices witnessed a gap up opening tracking strong global cues. Soon after the positive start, the market dipped below the neutral line and was dragged further before taking support near the 6,120 Nifty levels. Volatile movements were seen in the broader indices and post mid-session it surged in the positive terrain. But the gains didn't last long and the benchmarks were again dragged into the negative. The disappointing reading for India's Purchasing Managers'' Index for the month of December, negated the sentiment post mid-session. Further, hefty profit booking was seen in the Banking and Realty sectors, which dragged the market. The mixed start for the European bourses had limited impact on the domestic bourses. On the sectoral front, the FMCG and Oil&Gas space remained strong during the session while the banking and realty sectors plunged amidst profit booking.The Nifty lost 0.18% ending at 6,146.35 touching an intra day high of 6,181.05 and a low of 6,124.40. The Sensex too lost 0.30% ending at 20,498.72 touching an intra day high of 20,651.21 and a low of 20,449.01. | ||
Derivatives EOD report on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-EOD-04-Jan-2011.htm
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