intraday tips
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
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
Happy Holi/Stocks Tips/Day Trading Tips
The long Budget completed its lights and after that we are back again to our global We we’d a mixed budget and it was not enough to kindle the lights of common man but also if we look in to the angle from markets, our FM did his part, so the markets welcomed the session with a handy 62 points gain on last Friday.
Important Highlights of Budget:
· Fiscal deficit for FY11 pegged at 5.5% of GDP; rolling targets of fiscal defict at 4.8% in FY12 and 4.1% in FY13
· Inflation seen at 4.5% in both FY12 and FY13; 4% in FY11
· GDP growth seen at 9% in FY13 and 8.5% in FY11
· Divestment proceeds expected at Rs.40,000 cr in F
We are presenting the line chart once again. Here, 3 Moving averages 50, 100 and 200 periods are shown. The following points to be noted now.
1. At point “A”, NIFTY dropped below 50 DMA but away from 100 DMSA.
2. At point B, NIFTY breached the 100 DMA but away from 200 DMA.
3. At Point C, NIFTY came closer to 200 DMA, after breaching 50 and 100 DMAs.
4. At present, the 50 DMA is too close (only 6 Points) to the cross over.
Last week’s chart, in which I had shown you the past performance when such crossover occurred.
From all the points mentioned above you can very interpret the Bearishness is on the increase. From point no.4, we can see the crossover can occur any day next week.
Trading Strategy for 2 Mar, 2010
Intraday Support for the market shall be 4872 & 4836 .
While the market will experience resistance at 4978 & 5018.
Buy above 4948 with Stop Loss of 4897
Sell below 4897 with Stop Loss of 4948
RELINFRA
Buy near 1002
sl 995
Targets 1012,1020
Or if trades below 963
Short RELINFRA
SL 970
Targets 953,945
AXISBANK
Buy above 1126
sl 1119
Targets 1136,1144
Or if trades below 1095 Short AXISBANK
SL 1102
Targets 1085,1078
RANBAXY
Buy above 466
sl 460
Targets 475,480
Or if trades below 430
Short RANBAXY
SL 436
Targets 421,415
Todays Intraday Calls And Excerpts of Populist railway budget (Though overshadowed by Sachin’s Double Ton)
Mamata Banerjee presented the Annual Railway Budget for the financial year 2010-11. (Thought overshadowed by Sachin’s Double Ton)
Following are the extracts of railway budget:
- No privatization for railway department
- Limited funds available consistent for line addition
- Special task force to clear proposal for investment in 100 days
- Time for business partnership with railways has come
- To come out with 10 year plan ‘Vision 2020.’
- Plan to raise Rs 100-200 billion in FY’11
- To launch double-decker trains on pilot basis
- To complete 1000 km lines in one year.
- 117 new trains to be flagged off by March 31.
- Rs 1,300 crore for passenger amenities
- To set up six bottling water plants via PPP model
- Not to increase freight tariff
- All unmanned level crossings to be manned in next five years
- 381 diagnostic centers to be set up through out the country, also hospitals
- Center for Railway Research to be set up in affiliation with technical institutes like IIT etc.
- To set up 12 cos of women RPF
- To acquire 80,000 new wagons
- To run 101 suburban trains in Mumbai
- To introduce 54 new trains in FY’11
- FY’11 freight Loading Aim at 944 mt
- To extends routes for 21 trains
- to set up 10 auto ancillary hubs in PPP model
- FY’11 gross traffic receipts at Rs 94,800 cr
- To set up 10 more Duranto trains
- Service charge on AC class cut to Rs 20 from Rs 40
- cut freight on food grain, kerosene by Rs 100/wagon
- to set up more freight corridors
- FY’11 plan layout Rs 41426 cr
- To start door to door service for freight movement
- To sign pact for western corridor pact with Japan Company in March
- premium service for parcel freight movement
- to set up dedicated passenger corridor
- To set up golden rail corridor for dedicated passengers
- Non Core Biz Revenue seen at Rs 100 billion
- To beat FY10 freight target by 8 mt
- More ticketing centers to help the public
- Pilot project for fire detection
- Funding for metro rail project increased by 5%
AND ABOVE ALL SACHIN BECAME THE FIRST BATSMAN IN THE HISTORY OF ONE DAY GAMES TO MAKE A DOUBLE CENTURY. IF IT COULD MOVE OUR MARKETS NORTHWARD…
Intraday Calls:
Nifty(Spot): If Nifty(spot) trade above 4875 then some more uptrend in the market upto 4900 – 4920 – 4950, and if Nifty(spot) trade below 4830 then some profit booking in the market upto 4800 – 4780
Intraday Calls :
JSWSTEEL
Buy near 1072
SL 1065
Targets 1082,1090
Or if trades below 1044
Short JSWSTEEL
SL 1051
Targets 1034,1028
MARUTI
Buy near 1374
SL 1367
Targets 1384,1390
Or if trades below 1331
Short MARUTI
SL 1338
Targets 1321,1315
MCDOWELL-N
Buy near 1335
SL 1328
Targets 1345,1353
Or if trades below 1308
Short MCDOWELL-N
SL 1315
Targets 1298,1292
Future Calls:
BUY NATURAL GAS ( MARCH )
ABOVE 227.5
STOPLOSS 224
TARGETS: 231-235-239 .
