Headlines : 3 March 2009
Corporate News Headline
• Reliance Industries has offered one share for every 16 held in Reliance Petroleum as it seeks to merge its refinery subsidiary. (BS)
• Sadbhav Engineering bagged a contract of Rs. 15.71 bn from the Maharashtra State Road Development Corporation for 22 integrated border check-posts in the state on build operate and transfer. (BS)
• BHEL is setting up a manufacturing unit in Tamil Nadu at an investment of Rs. 2.5 bn, which would produce 25,000 MT of boiler components per annum. (BS)
Economic and Political Headline
• India's exports declined by 15.9% to USD 12.38 bn in January this fiscal, from USD 14.71 bn a year ago in January over the year-ago period, posting contraction for the fourth month. While imports dipped, for the first time this fiscal, by 18.2% to USD 18.45 bn, leaving a monthly trade deficit of about USD 6.07 bn. (BS)
• The US consumer spending rose 0.6% in January for the first time in seven months as Americans took advantage of post-holiday discounts, a gain that's unlikely to last because of the surge in joblessness. (Bloomberg)
• The UK manufacturing shrank 34.7 in February from 35.8 the previous month, for a 10th month and consumer lending rose at the slowest pace since at least 1993, evidence Britain's recession is intensifying. (Bloomberg)
NIFTY FUTURES (F & O)
Expect selling up to 2628 level for time being.
Expect selling up to 2628 level for time being.
Hurdles at 2649 & 2662 levels. Above these levels, expect short covering up to 2683-2685 zone and thereafter expect a jump up to 2704-2706 zone by non-stop.
Cross above 2780-2782 zone, it can zoom up to 2801-2803 zone and supply expected at around this zone and have caution.
On Negative Side, rebound expected at around 2605-2607 zone. Stop Loss at 2585-2587 zone.
Short-Term Investors:
Bearish Trend. 3 closes below 2974 level, it can tumble up to 2510 level by non-stop.
Short-Term Investors:
Bearish Trend. 3 closes below 2974 level, it can tumble up to 2510 level by non-stop.
BSE SENSEX
Traders can expect fall further.
Short-Term Investors:
Short-Term trend is Bearish and target at around 8129 level on down side.
Traders can expect fall further.
Short-Term Investors:
Short-Term trend is Bearish and target at around 8129 level on down side.
Maintain a Stop Loss at 8998 level for your short positions too.
Strong & Weak futures
This is list of 10 strong futures:
This is list of 10 strong futures:
Amtek Auto, APIL, Bharat Forg, Ashok Ley, Maruti, TVS Motor, Matrix Labs, M&M, Ultra Cemco & Mphasis.
And this is list of 10 Weak Futures:
Aban, Syndicate Bank, Indian Bank, Pantaloon, Punj Lloyd, Gitanjali, Ranbaxy, Mah Life, ICICI Bank & Wel Guj.
Nifty is in Down Trend.
Nifty is in Down Trend.
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 6,763.29. Down by 299.64 points.
The Broader S&P 500 closed at 700.82. Down by 34.27 points.
The Nasdaq Composite Index closed at 1,322.85. Down by 54.99 points.
The partially convertible rupee <INR=IN> closed at 51.90/92 per dollar on yesterday, down from 51.10/12 on Friday.
BANKEX Stocks May Fall
 | 2674.60 | ( -3.22 %) | -89.05 |  |
| 1 | 2 | 3 | ||
| Resistance | 2739.62 | 2804.63 | 2844.67 | |
| Support | 2634.57 | 2594.53 | 2529.52 | |
 | 8607.08 | ( -3.20 %) | -284.53 | | |
| 1 | 2 | 3 | |||
| Resistance | 8725.47 | 8843.85 | 8924.83 | ||
| Support | 8526.11 | 8445.13 | 8326.75 | ||
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 02-Mar-2009 | 825.22 | 1405.65 | -580.43 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 02-Mar-2009 | 856.33 | 522.2 | 334.13 |
--
Arvind Parekh
+ 91 98432 32381
