Market Outlook 8th July 2010

Strong & Weak  Stocks

This is list of 10 strong stocks: 

Hind Petro, Pantaloon Retail, Orchid Chem, Aban Off shore, BPCL, Bosch ltd, Polaris, Nagarjuna Const, IOB  & Bharat Forg.  

And this is list of 10 Weak stocks: 

RNRL, Sterling Biotech, HCL Tech, Sesa Goa, India Info, Sail Ltd, Hindalco, Grasim, PTC & Hind Zinc.

The daily trend of nifty is in Uptrend 

• Supp / Resis  SPOT/ CASH LEVEL
 

Indices		Supp/Resis	1	2	3
	Nifty	Resistance	5280.75	5320.40	5344.05
		Support	5217.45	5193.80	5154.15
	Sensex	Resistance	17580.74	17690.46	17757.25
		Support	17404.23	17337.44	17227.72

CASH MARKET SUPPORT / RESISTANCE LEVELS

Company Name  Exchange LTP* R1 #1 S1 @1 R2 #2 S2 @2 R3 #3 S3 @3 Aban Offshore Ltd. NSE 844.55 855.30 827.40 866.05 810.25 883.20 799.50 Bank of Baroda NSE 717.65 722.87 712.67 728.08 707.68 733.07 702.47 Banking Index Benchmark Exchange Traded Scheme (Bank BeES) NSE 948.55 958.87 942.37 969.18 936.18 975.37 925.87 Bharat Electronics Ltd. NSE 1769.05 1799.60 1746.85 1830.15 1724.65 1852.35 1694.10 Bharat Forge Ltd. NSE 307.45 311.65 303.50 315.85 299.55 319.80 295.35 Bharat Petroleum Corporation Ltd. NSE 659.10 663.85 655.50 668.60 651.90 672.20 647.15 Bosch Ltd. NSE 5769.50 5902.00 5575.00 6034.50 5380.50 6229.00 5248.00 Grasim Industries Ltd. NSE 1818.70 1830.77 1805.87 1842.83 1793.03 1855.67 1780.97 HCL Technologies Ltd. NSE 356.15 360.10 353.60 364.05 351.05 366.60 347.10 Hindalco Industries Ltd. NSE 142.00 144.28 140.38 146.57 138.77 148.18 136.48 Hindustan Construction Company Ltd. NSE 117.05 118.42 115.97 119.78 114.88 120.87 113.52 Hindustan Motors Ltd. NSE 22.75 23.18 22.48 23.62 22.22 23.88 21.78 Hindustan Zinc Ltd. NSE 942.40 952.37 933.87 962.33 925.33 970.87 915.37 India Cements Ltd. NSE 107.30 107.83 106.88 108.37 106.47 108.78 105.93 India Infoline Ltd. NSE 92.95 94.42 92.07 95.88 91.18 96.77 89.72 Indian Bank NSE 238.40 243.10 229.85 247.80 221.30 256.35 216.60 Indian Hotels Company Ltd. NSE 103.90 104.70 103.35 105.50 102.80 106.05 102.00 Indian Oil Corporation Ltd. NSE 388.50 395.60 384.20 402.70 379.90 407.00 372.80 Nagarjuna Construction Co. Ltd. NSE 186.00 187.97 183.27 189.93 180.53 192.67 178.57 Nagarjuna Fertilisers & Chemicals Ltd. NSE 33.85 34.28 33.38 34.72 32.92 35.18 32.48 NSE Index NSE 5241.10 5280.75 5217.45 5320.40 5193.80 5344.05 5154.15 Orchid Chemicals & Pharmaceuticals Ltd. NSE 175.90 178.57 173.17 181.23 170.43 183.97 167.77 Pantaloon Retail (India) Ltd. NSE 464.65 475.10 448.15 485.55 431.65 502.05 421.20 Pantaloon Retail (India) Ltd. - Bonus Cass B - Differential Voting Rights NSE 253.00 318.63 296.63 327.32 283.32 340.63 274.63 Polaris Software Lab Ltd. NSE 195.85 198.80 192.55 201.75 189.25 205.05 186.30 Power Finance Corporation Ltd. NSE 299.10 301.52 296.02 303.93 292.93 307.02 290.52 Reliance Capital Ltd. NSE 760.65 771.93 747.93 783.22 735.22 795.93 723.93 Reliance Communications Ltd. NSE 185.15 188.30 181.50 191.45 177.85 195.10 174.70 Reliance Industries Ltd. NSE 1053.55 1068.57 1044.77 1083.58 1035.98 1092.37 1020.97 Reliance Natural Resources Ltd. NSE 45.05 45.80 44.60 46.55 44.15 47.00 43.40 Reliance Power Ltd. NSE 175.75 178.60 174.00 181.45 172.25 183.20 169.40 Sesa Goa Ltd. NSE 347.05 355.08 342.53 363.12 338.02 367.63 329.98 Steel Authority of India (SAIL) Ltd. NSE 190.00 206.17 181.57 222.33 173.13 230.77 156.97 Sterling Biotech Ltd. NSE 105.60 107.28 104.53 108.97 103.47 110.03 101.78

*LTP stands for Last Traded Price as on Wednesday, July 07, 2010 4:05:04 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
•	Tata Power said that it would commission its 3 Mw solar photovoltaic power plant in Maharashtra by the end of this year. (BS)
•	JSW Steel reported a growth of 14% in its crude steel production in the Q1'11 over the corresponding period last year. The company produced 1.57 million tonnes of crude steel during the period. (BS)
•	Reliance Infrastructure, which supplies power to Mumbai suburbs, will buy electricity from three generation companies for the next three years. The company has accepted bids of Abhijeet Group, KSK-Wardha Power and Vidarbha Industries to power Mumbai suburbs. (BS)
Economic and Political Headline
•	Steady demand from automobile and consumer durables sectors saw steel consumption rising 12.2% to 14.9 million tonne (MT) during the April-June quarter over the same period last fiscal. Consumption was at 13.30 MT in the year-ago period, according to the data released by the Steel Ministry. However, domestic production rose only by 4% to 15.08 MT in the reporting period. (BS)
•	Exports and government spending helped sustain Europe's recovery in the first quarter, offsetting declines in investment and household consumption. Shipments abroad from the 16 nations using the euro increased 2.1% from the fourth quarter, when they rose 1.8%, while state spending advanced 0.2%, the European Union's statistics office in Luxembourg said. (Bloomberg)
•	An index of mortgage applications in the US rose last week to the highest level since October as more Americans took advantage of lower interest rates. The Mortgage Bankers Association's index increased 6.7% in the week ended July 2. The group's refinancing gauge jumped 9.2% and its index of purchases fell 2%. (Bloomberg)

deRIVATIVES eod REPORT ON http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-EOD-07-Jul-2010.htm

tODAY mARKET UPDATE ON http://www.indiabulls.com/securities/mailermis/morning-brief/morning-brief-08Jul2010.htm

Buy / Sell (Jul 07, 2010)
	Buy					Sell	Net
FII	1461.96					1511.20	-49.24
DII	1037.06					902.37	+134.69

*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