Market Outlook 10th June 2010

Strong & Weak  Stocks

This is list of 10 strong stocks: 

RCOM, Dr Reddy, Asian Paint, UCO Bank, Colpal, Vijaya Bank, Federal Bank, ONGC , TV-18 & Renuka.  

And this is list of 10 Weak stocks: 

Aban Off shore, Grasim, KS Oils, Hindalco, MLL, Punj Lloyd, Triveni, Suzlon, Tata Steel & Bhushan Steel.

The daily trend of nifty is in Uptrend 

Corporate News Headline
•	Bharti Airtel will offer affordable rates in Africa to boost usage, but has no plan for a price war, a top company executive said. (BS)
•	Oil and Natural Gas Corporation said it expects insurance premium for offshore assets to rise sharply following an oil leak in the Gulf of Mexico that has been described as the worst in the US history. (BS)
•	BHEL has tied-up with French firm Alstom to jointly bid for the Chennai metro project. "We have signed in-principle agreement with Alstom for the Chennai metro project, but the equity portion is yet to be decided," BHEL Chairman and Managing Director B P Rao said. (BS)
Economic and Political Headline
•	The government has a cash balance of around Rs. 480 bn with the Reserve Bank currently and will spend it gradually rather than at one go, three sources with direct knowledge of the issue said. The RBI is ready to expand liquidity support to the system if the need arises, a source said, adding that the bank has its own estimate of the expected outflow as a result of advance taxes as well as payment towards the broadband wireless access spectrum. (BS)
•	China's inflation rate, export growth and bank loans exceeded economists' forecasts in May. Consumer prices rose 3.1% from a year earlier, exports jumped about 50% and new loans totaled USD 92.3 bn. (Bloomberg)
•	Japanese machinery orders rose more than economists estimated, signaling companies are preparing to spend again as the economy recovers and earnings rebound. Orders, an indicator of business investment in three to six months, climbed 4% in April from March, a second straight increase, the Cabinet Office said in Tokyo. (Bloomberg)

	5025.80	( 0.51 %)	25.50
		1	2	3
Resistance		5040.57	5080.83	5111.07
Support		4970.07	4939.83	4899.57

	16743.99		( 0.52 %)	86.10
			1	2	3
Resistance			16786.63	16915.38	17013.06
Support			16560.20	16462.52	16333.77

Derivatives EOD Report on
http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-EOD-09-Jun-2010.htm

Derivative Stratagey today on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-strategy-10-Jun-2010.htm

CASH SUPP / RESISTANCE

Company Name  Exchange LTP* R1 #1 S1 @1 R2 #2 S2 @2 R3 #3 S3 @3 Aban Offshore Ltd. NSE 639.20 660.40 639.70 672.90 631.50 681.10 619.00 Asian Paints Ltd. NSE 2280.15 2309.47 2242.47 2335.23 2201.23 2376.47 2175.47 Bhushan Steel Ltd. NSE 1306.05 1308.60 1268.80 1326.65 1247.05 1348.40 1229.00 Colgate-Palmolive (India) Ltd. NSE 806.85 829.65 810.50 841.65 803.35 848.80 791.35 Federal Bank Ltd. NSE 337.55 344.33 336.83 348.67 333.67 351.83 329.33 Grasim Industries Ltd. NSE 1769.90 1794.93 1758.93 1813.47 1741.47 1830.93 1722.93 Hindalco Industries Ltd. NSE 133.65 136.35 129.45 139.75 125.95 143.25 122.55 NSE Index NSE 5027.45 5040.57 4970.07 5080.83 4939.83 5111.07 4899.57 Oil & Natural Gas Corporation Ltd. NSE 1196.55 1209.43 1169.73 1228.57 1149.17 1249.13 1130.03 Punjab National Bank NSE 1022.20 1029.73 1005.28 1039.47 990.57 1054.18 980.83 Reliance Capital Ltd. NSE 670.60 672.80 654.00 682.70 645.10 691.60 635.20 Reliance Communications Ltd. NSE 171.90 173.45 166.10 176.70 162.00 180.80 158.75 Reliance Industries Ltd. NSE 1009.85 1014.70 999.70 1022.35 992.35 1029.70 984.70 Reliance Natural Resources Ltd. NSE 51.85 52.40 50.75 53.25 49.95 54.05 49.10 Reliance Power Ltd. NSE 154.90 154.02 150.87 155.78 149.48 157.17 147.72 Suzlon Energy Ltd. NSE 52.60 54.43 52.73 55.37 51.97 56.13 51.03 Tata Motors Ltd. NSE 736.60 740.77 719.27 753.48 710.48 762.27 697.77 Tata Steel Ltd. NSE 461.00 469.38 453.63 475.72 444.22 485.13 437.88 Triveni Engineering & Industries Ltd. NSE 88.90 90.35 85.10 93.05 82.55 95.60 79.85 UCO Bank NSE 81.20 81.53 79.38 82.67 78.37 83.68 77.23 Vijaya Bank NSE 61.80 62.60 60.20 63.95 59.15 65.00 57.80

*LTP stands for Last Traded Price as on Thursday, June 10, 2010 11:23:35 AM

#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.

*
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.

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--
Arvind Parekh
+ 91 98432 32381