Strong & Weak
This is list of 10 strong
Hexaware, Ispat Ind, AREVA, HCL Tech, Wipro, Polaris, Petronet, KS Oils, Tata Motors & Dabur.
And this is list of 10 Weak
Welcorp, LIC Housing, KFA, Escorts, Ibrealest, India Info, UCO Bank, Orbit Corp, STR Tech & Jindal SWHL.
The daily trend of nifty is in Down trend
Scripts to watch on 16th Dec. : AxisBank, Bhartiatl, Biocon, BPCL, Bhel, Cairn, HDFCBank, ICICIBank, L&T, M&M, ONGC, Reliance, RelInfra, SBI, Sterlite, TataMotors, Tisco, Wipro
Derivative Stratagy today on http://www.indiabulls.com/securities/mailermis/derivative-strategy/derivative-strategy-16-Dec-2010.htm
| Market Outlook | ||
Yesterday, Nifty closed at 5,892.30 level, down by 52 points. Indian market is likely to open on a flat note following mixed sentiments from global markets. Nifty is likely to trade lower between 5,900-5,865 level in morning session ahead of the mid quarter policy review. However thereafter short covering could be witnessed in indices if RBI takes some positive step to ease the liquidity. Immediate support for Nifty now could be seen at 5,865-5,850. Breaking below the 5,850 level decisively will make the trend further weaker and in that case Nifty may likely to test 5,800 mark. On the other hand, resistance for Nifty could be seen at 5,907- 5,944 mark and sustaining above 5,944 level could lead to Nifty to 5,980 level.Technically, positive divergence in the MACD indicates that it is strengthening and could be on the verge of crossing its signal line (9 Days EMA) which is a bullish signal. Further, SBI, RIL, HDFC, HUL, TCS and Hindalco have paid higher advance taxes for the December quarter. Higher advance tax payment from Indian companies could lift the buying sentiment in market.Investors will focus on RBI mid-quarter policy review which is due today. Considering the tight liquidity situation, the RBI is likely to keep policy rates unchanged and would take further steps to ease the liquidity pressure. | ||
| Tip for the day | ||||||||||||||||||||||||||||||||
GITNAJALI (BUY)
HPCL (BUY)
JET AIRWAYS (SELL)
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| US markets | ||
| US stocks ended lower despite New York State manufacturing activity and industrial production numbers beat forecasts, while consumer price inflation remained subdued even as strong retail sector data. Profit taking may have contributed to the increase in the value of the dollar as well as an increase in bond yields. On the economic front, consumer price index edged up by 0.1% in November, just below expectations for an increase of 0.2%.Core consumer prices, which exclude food and energy prices, also rose by 0.1% in November, in-line with economist estimates. The New York Federal Reserve revealed that its industrial production rose by 0.4% in November, just above forecasts for a pickup of 0.3%. The report also showed that capacity utilization rose to 75.2% in November, marking the highest level since October of 2008. General business conditions index climbed to a positive. In corporate news, Yahoo revealed plans to reduce about 4% of its total workforce or about 600 jobs in an effort to boost its revenue growth and margin expansion. | ||
| European markets | ||
| European markets finished lower as shares of lenders and precious metal miners retreated. Investor sentiment was subdued after ratings agency Moody's placed Spain's sovereign credit rating on review for a possible downgrade. In economic news, the UK unemployment rate edged up in the three months to October to 7.9%, the highest rate in six months, from 7.7. The rate was remained unchanged. Euro zone employment remained stable in the third quarter after edging up 0.1% in the previous quarter. Meanwhile, the year-over-year decline in the number of employed moderated to 0.2% from 0.6% in the second quarter. | ||
| Indian markets (Prev Day) | ||
| Markets trade in negative zone throughout the day following weak global sentiments. The key benchmark indices edged lower in early trade, tacking weak Asian stocks. PSU OMCs rose as hike in petrol prices would improve finances of these companies. Shares of staterun manganese producer MOIL debuted at Rs 551, a 46.93% premium over the IPO price. Banking stocks fell ahead of Reserve Bank of India's mid-term monetary policy review. Markets made a slow recovery led by buying in IT stocks which rose on positive US retail sales data and after TCS won a multi-million dollar deal from Deutsche Bank. The intraday recovery witnessed in early trade soon gathered steam in mid-morning trade on reports that top Indian firms have paid higher advance tax. However, markets remained in the negative territory. Afternoon session saw further weakening of the markets as capital goods and consumer durables stocks edged lower. Interest rate sensitive realty stocks fell on worries that higher interest rates will crimp demand for residential and commercial properties. On the sectoral indices, Realty lost 3.66% and Banking lost 3.32%, while IT gained 1.55%. At the end, Sensex closed at 19,647.77 down by 151.42 points. It touched an intraday high of 19,817.61 and low of 19,571.43. Nifty ended at 5,892.30 down by 51.80 points. It made a high/low of 5,942.75 and 5,865.80 respectively. | ||
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