Market Outlook 23rd June 2010

Strong & Weak Stocks

This is list of 10 strong stocks: 

BRFL, RNRL, IOB, RCOM, Renuka, Indusind Bank, Voltas, Biocon, MTNL & LT.  

And this is list of 10 Weak Stocks: 

Grasim, Patni, Educomp, Petronet, Tulip, Mphasis, Yes Bank, Bharti Airtel, Suzlon & Chennai Petro.

The daily trend of nifty is in Uptrend 

SPOT CASH LEVELS

Indices		Supp/Resis	1	2	3
	Nifty	Resistance	5343.58	5370.62	5386.88
		Support	5300.28	5284.02	5256.98
	Sensex	Resistance	17836.66	17923.64	17979.15
		Support	17694.17	17638.66	17551.68

CASH MARKET SUPPORT / RESISTANCE LEVELS 

Company Name  Exchange LTP* R1 #1 S1 @1 R2 #2 S2 @2 R3 #3 S3 @3 Bank of Baroda NSE 714.20 723.42 707.57 732.63 700.93 739.27 691.72 Banking Index Benchmark Exchange Traded Scheme (Bank BeES) NSE 965.50 976.00 960.00 986.50 954.50 992.00 944.00 Bharti Airtel Ltd. NSE 262.00 265.70 259.90 269.40 257.80 271.50 254.10 Biocon Ltd. NSE 324.35 332.07 313.57 339.78 302.78 350.57 295.07 Bombay Dyeing & Manufacturing Company Ltd. NSE 507.30 515.15 502.30 523.00 497.30 528.00 489.45 Bombay Rayon Fashions Ltd. NSE 244.80 247.60 242.00 250.40 239.20 253.20 236.40 Chennai Petroleum Corporation Ltd. NSE 247.10 251.47 243.87 255.83 240.63 259.07 236.27 Educomp Solutions Ltd. NSE 521.00 526.40 517.80 531.80 514.60 535.00 509.20 Grasim Industries Ltd. NSE 1794.50 1812.88 1775.68 1831.27 1756.87 1850.08 1738.48 India Cements Ltd. NSE 112.50 113.88 111.58 115.27 110.67 116.18 109.28 India Infoline Ltd. NSE 99.60 101.53 98.13 103.47 96.67 104.93 94.73 Indiabulls Real Estate Ltd. NSE 152.65 155.32 149.67 157.98 146.68 160.97 144.02 Indian Bank NSE 224.15 226.12 220.82 228.08 217.48 231.42 215.52 Indian Oil Corporation Ltd. NSE 346.35 355.38 331.73 364.42 317.12 379.03 308.08 Indian Overseas Bank NSE 104.45 106.10 102.65 107.75 100.85 109.55 99.20 IndusInd Bank Ltd. NSE 206.40 211.93 200.93 217.47 195.47 222.93 189.93 Larsen & Toubro Ltd. NSE 1825.15 1841.32 1807.67 1857.48 1790.18 1874.97 1774.02 Mahanagar Telephone Nigam Ltd. NSE 64.85 66.20 63.50 67.55 62.15 68.90 60.80 Mahindra & Mahindra Ltd. NSE 633.15 642.63 626.03 652.12 618.92 659.23 609.43 MphasiS Ltd. NSE 575.90 583.60 570.10 591.30 564.30 597.10 556.60 NSE Index NSE 5316.55 5343.58 5300.28 5370.62 5284.02 5386.88 5256.98 Patni Computer Systems Ltd. NSE 524.05 538.03 516.03 552.02 508.02 560.03 494.03 Petronet LNG Ltd. NSE 77.40 78.70 76.60 80.00 75.80 80.80 74.50 Reliance Capital Ltd. NSE 761.75 771.47 754.57 781.18 747.38 788.37 737.67 Reliance Communications Ltd. NSE 186.05 189.52 183.47 192.98 180.88 195.57 177.42 Reliance Industries Ltd. NSE 1063.80 1073.42 1055.57 1083.03 1047.33 1091.27 1037.72 Reliance Natural Resources Ltd. NSE 64.35 65.40 63.20 66.45 62.05 67.60 61.00 Reliance Power Ltd. NSE 170.05 172.25 168.55 174.45 167.05 175.95 164.85 Suzlon Energy Ltd. NSE 56.45 57.02 56.07 57.58 55.68 57.97 55.12 Tulip Telecom Ltd. NSE 850.90 862.60 844.60 874.30 838.30 880.60 826.60 Voltas Ltd. NSE 200.95 204.57 196.17 208.18 191.38 212.97 187.77 YES Bank Ltd. NSE 271.85 280.30 263.10 288.75 254.35 297.50 245.90

*LTP stands for Last Traded Price as on Tuesday, June 22, 2010 4:04:44 PM

#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.

Corporate News Headline
•	Bharti Airtel will spend USD 100 mn in the next three years on network expansion in Malawi, the head of the mobile phone operator's African unit said. (BS)
•	Sun Pharmaceutical Industries said it has settled patent litigation with Finland-based Orion over generic versions of Stalevo and Comtan tablets, which are used for the treatment of Parkinson's disease. (BS)
•	MTNL has raised funds from three banks -- ICICI Bank, Yes Bank and Central Bank of India -- to pay Rs. 45.34 bn to the government towards broadband wireless spectrum. (BS)
Economic and Political Headline
•	A ministerial panel will on Friday consider raising petrol and diesel prices by Rs. 2-4 per litre, even as the government's key allies Mamata Banerjee and Sharad Pawar appear opposed to a fuel price hike. (BS)
•	European consumer confidence remained near the lowest in nine months in June as rising unemployment and a fiscal crisis clouded the growth outlook. An index of consumer sentiment in the 16-nation euro region rose to minus 17.3 from minus 17.8 in May, the Brussels-based European Commission said in an initial estimate. The May reading was the lowest since September 2009. (Bloomberg)
•	Sales of US previously owned homes unexpectedly fell in May, a sign demand was probably pulled into prior months before a June tax-credit deadline. Purchases of existing houses, which are tabulated when a contract closes, decreased 2.2% to a 5.66 million annual rate, figures from the National Association of Realtors showed. (Bloomberg)

Today market Update on http://www.indiabulls.com/securities/mailermis/morning-brief/morning-brief-23Jun2010.htm

Derivatives EOD Report on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-EOD-22-Jun-2010.htm

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
FII	22-Jun-2010	2546.4	1570.57	975.83

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	22-Jun-2010	1197.17	1394.16	-196.99

*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