Strong & Weak Stocks
This is list of 10 strong stocks:
BPCL, Hind Petrol, Bhushan Steel, Cummins India, UCO Bank, KFA, Petronet, PFC, Power Grid & Tata Comm.
And this is list of 10 Weak Stocks:
Suzlon, HCC, EKC, Patni, Punj Llyod, Tech Mahindra, Nagar Cont, Patel Eng, Chennai Petro & Ivrcl Infra.
The daily trend of nifty is in Downtrend
| Indices | Supp/Resis | 1 | 2 | 3 |
 | Nifty | Resistance | 5459.52 | 5503.58 | 5538.17 |
| Support | 5380.87 | 5346.28 | 5302.22 |
| Sensex | Resistance | 18179.00 | 18325.88 | 18435.27 |
| Support | 17922.73 | 17813.34 | 17666.46 |
SUPPORT/RESISTANCE LEVELS IN CASH/ SPOT MARKET FOR INTRADAT TRADING
Company Name  | Exchange | LTP* | R1 #1 | S1 @1 | R2 #2 | S2 @2 | R3 #3 | S3 @3 | | Bank of Baroda | NSE | 801.25 | 817.77 | 789.97 | 834.28 | 778.68 | 845.57 | 762.17 | | Bank of India | NSE | 442.80 | 453.82 | 433.92 | 464.83 | 425.03 | 473.72 | 414.02 | | Banking Index Benchmark Exchange Traded Scheme (Bank BeES) | NSE | 1079.38 | 1091.92 | 1069.42 | 1104.46 | 1059.46 | 1114.42 | 1046.92 | | Bharat Electronics Ltd. | NSE | 1671.80 | 1690.80 | 1656.40 | 1709.80 | 1641.00 | 1725.20 | 1622.00 | | Bharat Forge Ltd. | NSE | 348.85 | 356.57 | 344.57 | 364.28 | 340.28 | 368.57 | 332.57 | | Bharti Airtel Ltd. | NSE | 322.80 | 326.38 | 319.18 | 329.97 | 315.57 | 333.58 | 311.98 | | Bhushan Steel Ltd. | NSE | 1836.80 | 1874.53 | 1812.53 | 1912.27 | 1788.27 | 1936.53 | 1750.53 | | Chennai Petroleum Corporation Ltd. | NSE | 243.60 | 251.28 | 238.08 | 258.97 | 232.57 | 264.48 | 224.88 | | Cummins India Ltd. | NSE | 726.50 | 748.23 | 713.53 | 769.97 | 700.57 | 782.93 | 678.83 | | Everest Kanto Cylinder Ltd. | NSE | 107.70 | 109.43 | 106.23 | 111.17 | 104.77 | 112.63 | 103.03 | | Hindalco Industries Ltd. | NSE | 167.05 | 168.62 | 165.12 | 170.18 | 163.18 | 172.12 | 161.62 | | Hindustan Construction Company Ltd. | NSE | 57.85 | 60.20 | 56.40 | 62.55 | 54.95 | 64.00 | 52.60 | | Hindustan Motors Ltd. | NSE | 24.50 | 25.53 | 23.78 | 26.57 | 23.07 | 27.28 | 22.03 | | Hindustan Oil Exploration Company Ltd. | NSE | 232.50 | 237.87 | 228.57 | 243.23 | 224.63 | 247.17 | 219.27 | | Hindustan Petroleum Corporation Ltd. | NSE | 533.45 | 541.43 | 527.28 | 549.42 | 521.12 | 555.58 | 513.13 | | Hindustan Unilever Ltd. | NSE | 263.65 | 265.27 | 261.77 | 266.88 | 259.88 | 268.77 | 258.27 | | Hindustan Zinc Ltd. | NSE | 1062.45 | 1089.53 | 1044.23 | 1116.62 | 1026.02 | 1134.83 | 998.93 | | IVRCL Infrastructure & Projects Ltd. | NSE | 155.10 | 159.47 | 152.02 | 163.83 | 148.93 | 166.92 | 144.57 | | Kingfisher Airlines Ltd. | NSE | 59.95 | 61.53 | 57.83 | 63.12 | 55.72 | 65.23 | 54.13 | | Nagarjuna Construction Co. Ltd. | NSE | 152.15 | 155.77 | 149.77 | 159.38 | 147.38 | 161.77 | 143.77 | | Nagarjuna Fertilisers & Chemicals Ltd. | NSE | 29.30 | 30.25 | 28.70 | 31.20 | 28.10 | 31.80 | 27.15 | | NSE Index | NSE | 5415.45 | 5459.52 | 5380.87 | 5503.58 | 5346.28 | 5538.17 | 5302.22 | | Patel Engineering Ltd. | NSE | 370.30 | 376.87 | 365.37 | 383.43 | 360.43 | 388.37 | 353.87 | | Patni Computer Systems Ltd. | NSE | 463.90 | 485.13 | 451.33 | 506.37 | 438.77 | 518.93 | 417.53 | | Petronet LNG Ltd. | NSE | 109.60 | 111.72 | 108.07 | 113.83 | 106.53 | 115.37 | 104.42 | | Power Finance Corporation Ltd. | NSE | 351.45 | 356.63 | 344.63 | 361.82 | 337.82 | 368.63 | 332.63 | | Power Grid Corporation of India Ltd. | NSE | 108.75 | 110.50 | 106.00 | 112.25 | 103.25 | 115.00 | 101.50 | | Punj Lloyd Ltd. | NSE | 108.45 | 111.00 | 106.70 | 113.55 | 104.95 | 115.30 | 102.40 | | Punjab National Bank | NSE | 1189.55 | 1202.03 | 1180.03 | 1214.52 | 1170.52 | 1224.03 | 1158.03 | | Suzlon Energy Ltd. | NSE | 46.70 | 47.97 | 45.87 | 49.23 | 45.03 | 50.07 | 43.77 | | Tata Chemicals Ltd. | NSE | 387.20 | 393.30 | 381.80 | 399.40 | 376.40 | 404.80 | 370.30 | | Tata Coffee Ltd. | NSE | 488.10 | 504.28 | 478.58 | 520.47 | 469.07 | 529.98 | 452.88 | | Tata Communications Ltd. | NSE | 332.90 | 341.57 | 327.67 | 350.23 | 322.43 | 355.47 | 313.77 | | Tata Consultancy Services Ltd. | NSE | 845.65 | 858.93 | 836.23 | 872.22 | 826.82 | 881.63 | 813.53 | | Tata Motors Ltd. | NSE | 989.85 | 1006.43 | 976.73 | 1023.02 | 963.62 | 1036.13 | 947.03 | | Tata Power Company Ltd. | NSE | 1230.75 | 1253.92 | 1207.47 | 1277.08 | 1184.18 | 1300.37 | 1161.02 | | Tata Steel Ltd. | NSE | 527.90 | 531.48 | 522.23 | 535.07 | 516.57 | 540.73 | 512.98 | | Tata Teleservices (Maharashtra) Ltd. | NSE | 22.75 | 23.22 | 22.47 | 23.68 | 22.18 | 23.97 | 21.72 | | Tech Mahindra Ltd. | NSE | 651.00 | 661.98 | 642.53 | 672.97 | 634.07 | 681.43 | 623.08 | |
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*LTP stands for Last Traded Price as on Monday, August 30, 2010 4:04:10 PM |
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#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 |
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The levels given above are with respect to previous closing price on the NSE / BSE.
|
 Corporate News Headline |
| • | ONGC said Cairn Energy Plc cannot sell a majority stake in Cairn India to Vedanta Resources without its consent. (BS) |
| • | Mahindra & Mahindra has decided to separate the agri business of its subsidiary Mahindra Shubhlabh Services and merge it into itself. (BS) |
| • | Reliance Industries Ltd announced that it has acquired a 14.12% stake in EIH Ltd. The acquisition was made through Reliance Industries Investment and Holding Pvt Ltd, a wholly owned subsidiary of RIL. (BS) |
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| Economic and Political Headline |
| • | The government tabled the much-awaited Direct Taxes Code Bill in the Lok Sabha which proposed to raise the exemption limit on income tax from the current Rs 1.6 lakh to Rs 2 lakh. The bill seeks to widen income tax slabs to levy 10% rate on income between Rs 2-5 lakh, 20% on between Rs. 5-10 lakh and 30% above Rs. 10 lakh. For senior citizens, tax exemption is sought to be raised to Rs 2.5 lakh from Rs 2.40 lakh. The Bill seeks to fix corporate tax at the current 30% but without surcharge and cess. With surcharge and cess, the current tax liability on corporates comes to over 33%. The legislation also proposes to increase MAT from 18% to 20% of book profit of a company. It seeks to levy dividend distribution tax at 15%. (BS) |
| • | European confidence in the economic outlook in August after surging exports helped the economy expand in the second quarter. An index of executive and consumer sentiment in the 16 euro nations rose to 101.8 from a revised 101.1 in July, European Commission said. (Bloomberg) |
| • | Consumer spending in the US rose more than forecast in July, exceeding gains in incomes. Purchases rose 0.4%, after little change the prior month, Commerce Department figures showed. Incomes climbed 0.2%, less than projected, and the savings rate dropped. (Bloomberg) |
| US and European markets |
| Index | Latest | 1D Chg | YTD | | Nasdaq | 1772.07 | (1.09)% | (4.74)% | | DJIA | 10009.73 | (1.39)% | (4.01)% | | S&P 500 | 1048.92 | (1.47)% | (5.93)% | | • | US stocks fell, erasing the previous session's advance, after a smaller-than-forecast gain in personal incomes added to concern the economic rebound may slow further. The NASDAQ, Dow Jones and S&P 500 slipped 1.09%, 1.39% and 1.47%, respectively. Bank of America Corp., Home Depot Inc. and American Express Co. lost at least 2.4% to help lead the Dow Jones Industrial Average lower after government data showed income growth failed to keep up with the biggest increase in consumer spending since March. Intel Corp. slipped 2.2% after agreeing to buy Infineon Technologies AG's wireless unit for about USD 1.4 bn. | | Index | Latest | 1D Chg | YTD | | FTSE 100 | 5201.56 | 0.89% | (3.90)% | | CAC 40 | 3487.01 | (0.58)% | (11.41)% | | • | UK stocks were closed for the day on account of Summer Bank Holiday. | |
| Buy / Sell (Aug 30, 2010) |
| | Buy | Sell | Net |
| FII | 1418.88 | 1234.47 | +184.41 |
| DII | 916.93 | 848.22 | +68.71 |
*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.
--
Arvind Parekh
+ 91 98432 32381
