Stock Updates. Stock tips
Weekly Stock Update
Nifty commenced the last week on a flat note but moved higher to test 4,900 levels during the week. It ended its winning streak after facing stiff resistance at 4,900 level and ended the week below this mark after failing to breach this level decisively. From here, Nifty is expected to move within a range as suggested by its technical indicators as they are giving no clear indications. Also, a high volatility is expected to be the order of the week ahead of the budget and F&O expiry. Strong movements can be expected on the last trading session of the week when the budget will be announced. It can move downwards until 4,750 levels where it has got a strong support and if this level is breached, it can move further downwards until its next major support at 4,650, around which it will also get the support from 200 days exponential moving average. Upside, it has a resistance at 4,950 levels and Nifty can move higher only after breaching this level.
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Stocks To Watch
AXIS BANK(Sell)
CMP 1100
Target Price 1032
Stop Loss 1134
Support/Resistance 1030/1100
Comment
- The stock has been rising steeply over the last few sessions and it is now expected to correct.
- Its momentum indicators are also supporting its downward move. Its RSI is close to the overbought zone at 63 levels and the stochastic has also entered the overbought zone at 82 levels, suggesting a downturn.
RURAL ELECTRIFICATION CORP.(F) (Buy)
CMP 213.2
Target Price 228
Stop Loss 205.8
SupportResistance 213/230
Comment
- The stock has been falling continuously from the last many sessions and it is likely to rebound from here.
- Its momentum indicators are supporting its upward move. Its RSI is close to the oversold zone at 31 levels, MACD is showing maximum divergence and it is about to give a buy signal by crossing above its signal line and the stochastic has also given a buy signal.
Domestic market began the week on a subdued note on worries the central bank may take more monetary action to check inflation after the latest data showed that the headline inflation jumped in January 2010. Monthly inflation rose to 8.56% in January compared to 7.31% last month. Indian benchmark indices recouped all the losses on the next day thanks to higher Asian and European markets. Domestic bourses climbed higher as
the week moved ahead with Nifty touching 4,900 level following strong global cues and speculation that global economy is on the path of recovery. Finance minister’s comments that the Indian economy may grow at more
than 8% in the fiscal year 2010-11, after growing at around 7.5% in the current fiscal year ending March 2010 also bolstered sentiments. However, the benchmark key indices snapped last two days’ winning streak as lower Asian stocks weighed on investor sentiment. Ascending food inflation also dampened the market moods back home. Indices dipped in red on the last day of the week as the US Federal Reserve’s decision to raise its discount rate hurt investor sentiment. Sensex closed the week at 16,191.63 up by 39.04 points (0.24%) while Nifty closed at 4,844.90 up
by 18.05 points (0.37%).
Nifty Weekly Top Gainers
Company % Return
Hindalco 8.43
Ranbaxy 6.55
HDFC Bank 6.00
Nifty Weelky Top Loser
Company % Return
Bharti Airtel -11.35
Unitech -6.15
Reliance Infra -5.67
Global Markets
US stock markets gained with higher margins during the week (till Thursday) as upbeat economic data and several strong earnings announcements bolstered the market sentiments. The markets also reacted to news from Merck, Hewlett Packard, Deere & Co and Wal-Mart, which reported better than expected earning. Investors bought into stocks after the positive economic data including producer price index, retail sales, industrial production, activity in the manufacturing sector and housing data. In other news, General Growth Properties Inc., the second-largest U.S. mall owner which filed for bankruptcy last year soared after Simon Property Group Inc., the biggest U.S. shopping-mall owner, offered to buy the troubled company.
Asian markets ended on subdued note during the week. Japan’s Nikkei 225 edged up but gains were limited by concerns over risk factors such as the impact of China’s efforts to curb bank lending and Greece’s fiscal woes. Hang Seng plummeted as lingering worries over China’s policy tightening prompted investors to take profits from the market’s recent rebound. China’s SSE composite closed during the week due to Lunar New Year holiday.
European markets surged significantly during the week. Markets started the week on a buoyant note posting gains on the back of financial and commodity shares. Positive US manufacturing data with higher crude and metal prices lifted the markets higher.
Further, better than expected earnings from Barclays, BNP Paribas, ING, ABB and Capgemini took the markets to 2 week closing high.
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Weekly Stock Tips/Intraday Stock Tips
Nifty futures opened today with a gap up of approx. 30 points @ 4785. It quickly managed to scale above 4800 mark in the early session and made an intraday high of 4849. Nifty spend the whole day above the 4800 level and closed the day at 4832
WEEKLY NIFTY SUPPORT AND RESISTANCE LEVEL FOR 15 FEB TO 19 FEB 2010
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RESISTANCE —–4885………4940………..4995
SUPPORT…………..4772…….4716………….4660
SUPPORT AND RESISTANCE LEVEL FOR 15 FEBRUARU 2010
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RESISTANCE………..4850……….4870———-4890
SUPPORT…………..4808…………4787……………4766
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WE ARE VERY MUCH BULLISH AND HOPE MY TARGET WILL HIT IN FEBRUARY.ITS A VOLATILE MARKET………BUY ON DIPS SHOULD BE PROFITABLE
Buy TATASTEEL 531.50
SL 527
TGT 536-539….
ADD MORE BUY ABOVE 533
CMP 532 CASH/FUTURE.
Our view on Nifty future is positive for now. Only a break below 4720 support area , will reinstate the downside momentum again and take Nifty below 200 day moving average towards 4530 area . Any dips in Nifty should be used as a buying opportunities for the near term targets of 4950 and thereafter 5050 level.
Stock Calls For Today
Nifty despite all its efforts has not been able to settle over the FIB retracement of 4818 in the last three trading sessions. While such a low FIB would have normally been masticated in between the teeth by the bulls, they had to grind and garnish their teeth and still end up grunting with nifty sliding down perilously close to the last bull support of 4720.
NIFTY OUTLOOK:
BUY ABOVE 4730 TGT 4770-4795. IF STAYS ABV 4820 FOR 4-5 MINS EXTENDED TGTS ARE 4850-4880 SL 4702
SELL BELOW 4770 TGT 4730-4708 IF STAYS BELOW 4690 FOR 4-5 MINS EXTENDED TGT IS 4660-4620 SL 4800
TECHM : Buy above 957 sl 950 Targets 968,975 Or if trades near 934 Short TECHM SL 941 Targets 923,915
ABB: Buy above 802 sl 796 Targets 812,820 Or if trades below 788 Short ABB SL 794 Targets 778,770
JSWSTEEL: Buy above 998 sl 990 Targets 1009,1015 Or if trades near 963 Short JSWSTEEL SL 971 Targets 952,945
FUTURES CALL:
BUY JSWSTEEL FUT ABOVE 943 TGT 975-990 SL 923
SELL JSWSTEEL FUT BELOW 974 TGT 943-927 SL 995
Intraday And Short Term Calls
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BANK NIFTY (LAST CLOSE 8277)
BUY WITH SL OF 8145
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HCL TECH (LAST CLOSE 347)
BUY WITH SL OF 339
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ICSA (LAST CLOSE 140.90)
BUY WITH SL OF 137
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RELIANCE (LAST CLOSE 984)
BUY WITH SL OF 968
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HINDUSTAN UNILIVER (LAST CLOSE 229)
HOLD BUY WITH SL OF 224
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HDFC BANK (LAST CLOSE 1590)
LONG @ 1620 ON 4-2-10 HOLD WITH SL OF 1575
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SAIL (LAST CLOSE 203)
LONG @ 218 ON 4-2-10 HOLD WITH SL OF 198
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BIOCON (LAST CLOSE 259)
LONG @ 271 ON 2-2-10 HOLD WITH SL OF 253
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CESC (LAST CLOSE 393)
LONG @ 405 ON 2-2-10 HOLD WITH SL OF 384
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KFA (LAST CLOSE 50.60)
LONG @ 56 ON 2-2-10 HOLD WITH SL OF 49
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GRASIM (LAST CLOSE 2696)
LONG @ 2640 ON 2-2-10 HOLD WITH SL OF 2625
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HINDUSTAN CONST CO (LAST CLOSE 134)
LONG @ 135 ON 2-2-10 HOLD WITH SL OF 131
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INDIA CEM (LAST CLOSE 120)
LONG @ 113 ON 2-2-10 HOLD WITH SL OF 117
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MOSER BEAR (LAST CLOSE 75.)
LONG @ 81 ON 2-2-10 HOLD WITH SL OF 73
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MERCATOR LINES (LAST CLOSE 56.80)
LONG @ 60 ON 2-2-10 HOLD WITH SL OF 54
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PUNJ LYOD (LAST CLOSE 171)
LONG @ 187 ON 1-2-10 HOLD WITH SL OF 167
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ICICI BANK (LAST CLOSE 798)
LONG @ 820 ON 1-2-10 HOLD WITH SL OF 784
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DIVIS LAB (LAST CLOSE 577)
LONG @ 612 ON 1-2-10 HOLD WITH SL OF 570
Note: Plz check the date of calls/posts carefully.
Todays Stock Tips And Outperformers
Buy Nifty above 4730 tgt 4803-4840. If stays abv 4855 for 4-5 mins then extended tgts are 4880-4918 sl 4686
Sell Nifty below 4800 tgt 4730-4690 If stays below 4670 for 4-5 mins then extended tgt is 4620
For today clearly buy on dips we may open around day pivot 4745. Most likely we might be range bound for tomorrow.
Nifty spot levels for the day:
4690 – 4744 – 4791 – 4827 – 4884
AXISBANK
Buy Above 1022
Target 1050-1075
Stoploss 1010
Futures Calls for 9th February 2010
Buy Century Textiles Fut abv 477 tgt 489-495 sl 468.75
Sell Century Textiles Fut below 489 tgt 477-471 sl 49
KOTAKBANK
Buy above 741
sl 735
Targets 751,760
Or if trades below 719
Short KOTAKBANK
SL 726
Targets 709,700
AXISBANK
Buy above 1033
sl 1025
Targets 1044,1052
Or if trades below 1008
Short AXISBANK
SL 1016
Targets 997,988
JSWSTEEL
Buy above 1003
sl 995
Targets 1014,1022
Or if trades below 962
Short JSWSTEEL
SL 970
Targets 954,944
HINDUSTAN UNILIVER (LAST CLOSE 236)
BUY WITH SL OF 229
ASPER LAGNAA TIMES…
TRADING HOUR
upto….10.30am… NEUTRAL
10.30am..to…12.15pm… POSITIVE
12.15pm…to…2.15pm..NEGATIVE
2.15pm..to..closing.. POSITIVE
Expected OUT PERFORMERS FOR 09/02/2010
TELECOM AND PRIVATE BANKS
