Intraday Calls/Market Outlook For Today
A day came after eight days of range bound movement. The bulls won in the end.
Reliance helped the index and gave upside indications much before Nifty breakout.
The markets opened lower yesterday on mixed global cues and remained low on volume till early noon. Got slightly positive on buying in frontline stocks led by bellwether Reliance Industries.
Banking stocks which were trading in the negative in early noon turned positive in mid afternoon on hectic buying coupled with short covering. Reliance Industries, which has the highest weight on the main index rose 3.8 percent to 1,066.80 rupees,
Now support comes at 5168 and 5140.
Resistance at 5240
Reliance Communications said that it was open to acquisitions in India as a part of its strategy to grow its presence in the domestic market and would do so at the right opportunity. (BS)
Tata Power is looking to help arrange coal supplies from Australia, Indonesia and Africa for small power producers amid a growing shortage of the resource in India. (BS)
Bharti Airtel, in talks to buy the African mobile operations of Kuwait’s Zain for USD 9 bn, has issued a term sheet to banks to raise up to USD 8.5 bn in offshore loans to fund the deal, banking sources said. (BS)
Intraday:
Buy above 5221 with Stop Loss of 5178
Sell below 5178 with Stop Loss of 5221
Sell Bank Nifty
Around 9145
SL: 9189
Target : 9070 & 9035
JAICORPLTD ( Jai Corp Limited )
|
Action |
Trigger Price |
Stop Loss |
Target-1 |
Target-2 |
|
BUY ABOVE |
264 |
252 |
272 |
285 |
|
S.SELL BELOW |
250 |
255 |
242 |
222 |
WALCHANNAG ( Walchandnagar Industries Ltd )
|
Action |
Trigger Price |
Stop Loss |
Target-1 |
Target-2 |
|
BUY ABOVE |
241 |
233 |
246 |
253 |
|
S.SELL BELOW |
232 |
235 |
227 |
215 |
TEXMOPIPES ( Texmo Pipes And Products Limited )
|
Action |
Trigger Price |
Stop Loss |
Target-1 |
Target-2 |
|
BUY ABOVE |
161 |
156.5 |
163.5 |
167.5 |
|
S.SELL BELOW |
156 |
157.5 |
153.5 |
146.5 |
Today’s Intraday and Short term Calls
The week ended flat amid low volatility but with somewhat positive bias. The market remained firm throughout after the growth oriented budget (as termed by corporates sector) last month and hopes of economic revival on the back of some encouraging data from across the globe.
Also, it appears that the near term prospects of the market remains positive in the absence of any negative news in sight.
Market can be keenly watching advance tax payment figures being paid by corporate houses as the last installment which falls due on 15 March 2010. The data on inflation will also play a key role in dictating the trend. Meantime, the markets have been on rise since the first week of March of 2010 on sustained buying by foreign funds.
Intraday/Short term calls
SUPPORT FOR NIFTY 5111/4933
RESISTANCE FOR NIFTY 5166/5222
CAIRN INDIA LTD
LAST CLOSE – 276.65 …….
BUY BETWEEN 270-274
STOPLOSS : 264 (CLOSING BASIS )
TARGETS : 285-293-300 IN SHORT TERM
NALCO FUTURE (Last close 391.00)
The stock closed on Friday with positive bias with low volumes.
The stock appears positive on charts and may move up to 400/405 once it trades and remains above 393.20.
Strong support for the stock exists at 387.00.
AUROPHARMA
Buy: Around 972
Target: 985
Stoploss: 967
CHEMPLAST
Buy :Around 11.60
Target: 15
Stoploss : 9.90
Type of call : Very Short Term (about 3-4 days)
Today’s Intraday Calls
Some Latest News Bits
• NMDC is planning to invest around Rs 24 bn to lay a pipeline between its Chhattisgarh plant and Visakhapatnam in Andhra Pradesh. The proposed pipeline will transport iron ore from Bailadila mine in Chhattisgarh to Vishakhapatnam. (BS)
• Fortis Healthcare will buy 23.9% of Singapore healthcare provider Parkway Holdings for USD 685 mn, giving it access to the Southeast Asian markets. Fortis has agreed to buy the stake from buyout firm TPG Capital. (ET)
• Bharti Airtel announced the launch of its digital media business, its foray into entertainment, to deliver content to a range of users, including producers and media firms. The Company will not produce any content, but market and cater to a variety of users such as animators, gaming firms, news channels, cinemas and banking institutions. (ET)
• India’s Food Price Index rose 17.81% in the 12 months to February 27, while the Fuel Price Index was up 11.38%, the Government said. The rise in the Food Price Index was marginally lower than an annual rise of 17.87% in the previous week. India’s Primary Articles Price Index was up 15.08% year-on-year as on February 27. (BS)
Nifty View:
SUPPORT FOR TODAY 5022/4933
RESISTANCE FOR TODAY 5166/5222
20DMA@4950
50DMA@5021
200DMA@4786
Intraday Calls/Resistance/Supports
STER ( Sterlite Industries ( India ) Limited )
|
Action |
Trigger Price |
Stop Loss |
Target-1 |
Target-2 |
|
BUY ABOVE |
825 |
812 |
831 |
845 |
|
S.SELL BELOW |
808 |
816 |
803 |
790 |
COREPROTEC ( Core Projects And Technologies Limited )
|
Action |
Trigger Price |
Stop Loss |
Target-1 |
Target-2 |
|
BUY ABOVE |
264 |
258 |
272 |
284 |
|
S.SELL BELOW |
256 |
259 |
250 |
235 |
JYOTISTRUC ( Jyoti Structures Ltd )
|
Action |
Trigger Price |
Stop Loss |
Target-1 |
Target-2 |
|
BUY ABOVE |
172 |
167.5 |
175.5 |
181 |
|
S.SELL BELOW |
166.5 |
169 |
164 |
156 |
Todays Intraday Calls/Market Update
US markets rose on the anniversary of the 2009 bear-market low for the Standard & Poor’s 500 Index amid speculation the economy will continue to recover from the worst contraction since the Great Depression. The Dow Jones, S&P 500 and NASDAQ gained 0.11%, 0.17% and 0.55%, respectively. American International Group Inc. surged 13% on speculation the insurer will sell more assets. United Technologies Corp., General Electric Co. and AT&T Inc. led gains in the Dow Jones Industrial Average. Boeing Co. advanced after Northrop Grumman Co. withdrew as a bidder for a US Air Force contract.
• US & European markets FLAT , Nasdaq closed
18 months high
• Asian market opened FLAT.
• SGX nifty up 13 points.
• Dollar index is below 80.61
• Gold at $1122 and crude below $ 81.23
• London future up 4 points.
• Dow future UP 1 points at 8 am
INTRADAY CALLS
NIFTY SUPPORT 5071
RESISTANCE 5153
RELINFRA
Buy above 1019
SL 1012
Targets 1029,1035
Or if trades near 1002
Short RELINFRA
SL 1009
Targets 992,986
M&M
Buy above 1134
SL 1127
Targets 1144,1150
Or if trades below 1114
Short M&M
SL 1121
Targets 1104,1097
ACC
Buy above 1002
SL 995 Targets 1012,1018
Or if trades near 989
Short ACC
SL 996
Targets 979,973
MARUTI
Above 1500
Target : 1530-1550
Stoploss: 1478
Duration : In 1-2 Days
Likely out performer of the day : MAHINDRA FORGING
ROLTA FUTURE (Last close 186.85)
The stock after consolidation closed flat with marginal gain yesterday. The stock remains and appears positive on charts and may move up to 190/193 once it trades and remains above 187.75. Strong support for the stock exists at 183.25.
TCS FUTURE (Last close 768.75)
The stock of the IT giant after remaining range bound during the past four trading sessions closed yesterday marginally higher with positive bias. The stock appears positive on charts and may move up to 775/779 once it trades and remains above 770.25. Strong support for the stock exists at 764.50.
Today’s Intraday calls and Market Outlook
US markets ended mixed, after American International Group Inc. announced the USD 15.5 bn sale of a unit and Sprint Nextel Corp. said it expects revenue growth in the next several quarters, overshadowing a drop in drugmakers. The Dow Jones and S&P 500 fell a marginal 0.13% and 0.02%, respectively, while NASDAQ climbed 0.12%. AIG climbed 3.6% after agreeing to sell its American Life Insurance Co. unit to MetLife Inc. McDonald’s Corp. gained 2.3% after global sales topped estimates. The Standard & Poor’s 500 Index fell for the first time in seven days, led by health-care stocks, after President Barack Obama embarked on a final push to overhaul the medical industry.
SBI had increased the authorized capital, the Government was amending the SBI Act and planning to sell a 4% stake in it. And by George, SBI just flew of the handle and took Nifty along with it to hit the day’s high at 5145.
So, in short:
NIFTY RANGE of today: 5070-5175.
• US & European markets closed flat.
• Asian market opened flat.
• SGX nifty up 18 points.
• Dollar index is above 80.
• Gold at $1123 and crude at $ 81.56.
• London future up 1 points at 8 am.
• Dow future down 14 points at 8 am
Intraday Calls:
BUY NIFTY ABOVE 5108 TGT 5127-5135-5165182 SL 5093
SELL NIFTY BELOW 5127 TGT 5108-5098-5073-5053 SL 5141
Every dip is a buying opportunity as long as it holds 5040 levcl.
Watch out for 5115,5090 and 5060 levels.
NATIONALUM
Sell Below 397.50
Target: 391-388
SL: 402
Sell Sesagoa Fut
Around 432.50
Target: 428
SL 436
Shortterm Calls
ROLTA
TARGETS 191-195-201.60
STOPLOSS OF 179.80
Likely Outperformer:
Look to buy CALS Refinery @ around .55 to .60
Can be an outperforming stock
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