Intraday Calls
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
New IPO: DQ Entertainment Ltd
DQ Entertainment (International) Limited is making an Initial Public Offer (IPO) of 16,048,011 equity shares of Rs. 10 each (face value) at a price band of Rs.75- Rs.80. Of this, up to 321,011 shares would be reserved for subscription by eligible employees. The issue less the portion reserved for employee constitutes 15,727,000 shares of Rs. 10 each. The issue would constitute 20.24% of the post issue paid-up capital of the Company. Prior to issue the Company has completed a Pre-IPO Placement of 3,772,771 Equity Shares to certain selected investors (including 2,936,427 to IDFC Investment Advisors Limited) at a price of Rs. 68.11 per share raising aggregate Rs. 257 mn.
Valuation and recommendation:
At a price band of Rs. 75-80, the Company proposes a EV/EBITDA of 8.6x-9.1x for FY11E, which is at a discount to the peer group (UTV Software Communications, Balaji Telefilms, Prime Focus) average of 11.5x. DQE also has better EBITDA margin at over 35% and ROE at 10.5% for FY11E in comparison to the peer set average of 17% and 7%, respectively.
So, DQE’s seem to have strong fundamentals and good growth potential, we recommend investors to go for the issue.
The issue will be open for subscription from March 8-10, 2010.
Stock Calls For Today
US markets advanced for 5th continuous session , following analyst upgrades, a jump in retail sales and reports showing improvement in jobless claims and productivity. The Dow Jones, S&P 500 and NASDAQ climbed 0.46%, 0.37% and 0.44%, respectively. Walt Disney Co. climbed 2.9% after Bank of America Corp. recommended the shares, while Coca-Cola Co. and Boeing Co. rose at least 1% as UBS AG lifted its ratings on the stocks. A drop in oil dragged energy shares lower, limiting the market’s advance.
Corporate Sector News
- Hindustan Construction Company has bagged two orders worth Rs. 2.99 bn from Hindalco Industries for various infrastructure related works at Aditya Aluminium Smelter Project in Orissa. (BS)
- Ashok Leyland said it will invest Rs. 30.00 bn in the next three years on various projects, including its light commercial vehicle joint venture with Japanese auto maker Nissan. (BS)
- Suzlon Energy said it has bagged a contract from Gujarat State Petronet Ltd for setting up 52.5 MW wind energy project in Gujarat. (BS)
Nifty Outlook
If Nifty trade above 5100 then some more uptrend in the market upto 5140 – 5180
If Nifty trade below 5045 then some profit booking in the market upto 5020 – 4980
Intraday Calls:
ACC
Buy above 963
SL 956
Targets 973,980
Or if trades below 947
Short ACC
SL 954
Targets 937,931
RELIANCE
Buy above 1034
SL 1027
Targets 1044,1050
Or if trades below 1013
Short RELIANCE
SL 1020
Targets 1003,997
AXISBANK
Buy above 1144
SL 1137
Targets 1154,1160
Or if trades below 1120
Short AXISBANK
SL 1127
Targets 1110,1104
Todays Intraday Tips And Nifty Outlook
TECHNICAL VIEW
CLOSE@5088
PREVIOUS HIGH@5093 LOW@5015
WEEKLY HIGH@5093 LOW@4783
20DMA@4858
50DMA@5014
200DMA@4749
SUPPORTS FOR 04/03/2010 5022/4933
RESISTANCE FOR 04/03/2010 5111/5166
Nifty(Spot)
If Nifty(spot) trade above 5100 then there can be some more uptrend upto 5130 – 5165,
If Nifty(spot) trade below 5050 then some profit booking can be seen in the market upto 5000
Intraday Calls :
RELIANCE
Buy near 1020
SL 1013 Targets 1030,1035
Or if trades below 995
Short RELIANCE
SL 1002
Targets 985,980
MCDOWELL-N
Buy near 1437
SL 1430
Targets 1447,1453
Or if trades below 1397
Short MCDOWELL-N
SL 1404
Targets 1387,1380
JSWSTEEL
Buy near 1142
SL 1135
Targets 1152,1160
Or if trades below 1110
Short JSWSTEEL
SL 1117
Targets 1100,1094
