Friday, 28 March 2008
Report - for Friday 28
Both Bullish (4950+) and Bearish Targets maintained / Be Scrip Specific
Bar Reversal Up/ Down, Engulfing in Daily Chats (Min Avg Volume >100000/Day)
Scrip | Scrip | Scrip | Scrip |
Bar-Up | Bar-Dn | Eng-Bull | Eng-Bear |
RELIANCE CAPITAL | TATA STEEL | SUZLON ENERGY | BALLARPUR INDS |
SUZLON ENERGY | IDFC | SUN PHARMACEUTIC | STRIDES ARCOLAB |
BHARTI AIRTEL | HDFC BANK | IFCI LTD | MANGALAM CEMENT |
ONGC CORPN | VSNL | HINDALCO INDS | MID-DAY MULTIMEDIA |
JAIPRAKASH ASSOC | INDIA INFOLINE | STERLITE INDS (I) |
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RELIANCE COMM | HIND PETROLEUM | TATA POWER COMP |
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RELIANCE NATURAL RES | CENTURION BANK | CIPLA LTD |
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ESSAR OIL | TATA CHEM | ACC LTD |
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BHEL | DECCAN AVIATION | DR. REDDY'S LABS |
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SESA GOA | LIC HOUSING FIN | ROLTA (I) |
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IFCI LTD | TATA TEA | NEYVELI LIGNITE |
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What the Charts Foretell
(FOR Short Term Investors)
* NIFTY/ SENSEX !
Bearish Targets (4760-4700) Maintained - Sharp Rally from Support not ruled out
Index Leaders in favour of further decline - But Be Scrip Specific / Bullish Opportunities also Available
* APTECH TRAINING !
Overbought in EST charts-Corrective decline to 210 likely
* STERLITE INDS. !
EST resistance at 732-733/Bullish breakout may target 780-800 in near future
* 3I INFOTECH !
All set to cross 105 in near term-Buy around 94 with SL
* GTL !
Hourly charts in favor of rise to 260-Buy gradually on declines with SL
* IVRCL INFRA !
Bullish breakout in EST charts-Likely to cross 410 in near future
* RASHTRIYA CHEM. !
Highly oversold in EST charts-Technical recovery to 55-56 likely
* RELIANCE POWER !
EST resistance at 330-Bullish breakout with volumes may target 355+ in near term
* NOIDA TOLL BRIDGE !
Short term indicators in favor of rise to 46-47/Buy gradually on declines with SL
* TATA STEEL !
Short term resistance of 670 maintained-Buy on bullish breakout for target of 720+
* INFOSYS !
Mildly bearish in EST charts-Likely to go below 1400 in coming days
* ORBIT CORP. !
Extremely overbought after rise from 320 to 550 in 3 days-Book part profit to re-enter below 450
* RANBAXY !
Bearish in hourly charts-Corrective decline to 422-420 likely
* RPL !
Short term resistance at 158-Bullish breakout with volumes will target 168-170
* SUZLON !
Indicators favor rise to 255+/Buy on declines till 235 with SL
* JP ASSOCIATES !
Bullish pattern in making-Close above 236 will target 260 in few days
* UNITECH !
Strong resistance at 288-290/Bullish breakout may target 330+ in few sessions
* NAGARJUNA FERTILIZERS !
Highly oversold in short term charts-Close above 37.5 may target 44-45
* GUJ NRE COKE !
Highly overbought after sharp rise from 99 to 152 in 3 days-Ripe for decline to 139-140
* HINDALCO !
Heading for 186+/Use decline towards 167-168 for fresh buying with SL
* ITC !
Indicators favor rise to 208-210/Use declines to 196 for fresh buying
* R COMM. !
"Declining Channel" pattern in making-Close above 545 will target 620+ in few days
* CAIRN INDIA !
EST resistance at 218-Bullish crossover to target 230 in near term
* YES BANK !
Highly overbought in short term-Further decline to 176 & 170 likely
Recommendations for 28.03.2008Opening Price is considered around close of previous day. Avoid BUYING if Prices open abnormally High and Avoid SELLING if prices open too low.
1). IVRCL (Or Fut) : Buy 1000 Shares (500 at opening + 5x100 at Fall of every Rs2/- ) in ' Investment A/C' . Target 410. Avg SL Rs10/-.
2). J P Associates (Or Fut) : Buy 1500 Shares (700 at opening if moves below 236+ 4x200 at Fall of every Rs2/- ) in ' Investment A/C' . Target 260. Avg SL Rs10/-.
3). Orbit Corp : Sell 600 Shares (300 at opening + 3x100 at Rise every Rs10/- ) in ' Trading A/C' . Target 450. Avg SL Rs15/-.
4). Yes Bank (Or Fut) : Sell 1000 Shares (500 at opening + 5x100 at Rise every Rs1/- ) in ' Trading A/C' . Target 176. Avg SL Rs6/-.
----- With due apologies and full credits to Kalpataru
........................... Click here to read more!
Wednesday, 26 March 2008
Nifty Intraday Shorting Setup - 25 March 2008
A previous article of Fibonacci Retrace is worth reading here once again. Even in the best of roaring markets, we do get dips worth trading sure shot for small targets.
........................... Click here to read more!
Tuesday, 25 March 2008
Nifty Intraday Move - 25 March 2008
Just a straight line rise. A long in the morning with a gap up at 100 points still would have gone good...... !
........................... Click here to read more!
Monday, 24 March 2008
Report - for Monday 24th
ABB
RESEARCH: MERRILL LYNCH
RATING: BUY
CMP: Rs 1,103
MERRILL Lynch has maintained a ‘buy’ rating on ABB. The company has stated that its strategy of expanding products, capacities and markets should continue to deliver strong growth, despite volatile commodity markets. The management has said that India’s plan to add 78 gigawatts (gw) of new generation capacity, related investment in transmission and distribution (T&D) and industrial capital expenditure (capex), especially in the metals & mining and infrastructure space, are picking up. ABB’s order book, at Rs 5,000 crore — up 49% year-on-year (YoY) — support its growth strategy. The company has won key orders such as robotics from Tata Motors, Karnataka Power Transmission Corporation’s (KPTCL) supervisory control and data acquisition (SCADA) order and transformer/traction motor order from Bombardier for the Delhi Metro. ABB is spending $100 million over ’08-09 on capex (factories) and launching new products — wind generators for exports. The structural drivers of ABB are India’s plans to expand its national power transmission grid, with inter-regional grid capacity of ~37.2 gw (14.1 gw in FY07) and industrial capex focused on higher automation. The adoption of ultra high voltage direct current (HVDC) lines by FY09E is a significant opportunity for a world leader like ABB. Further, the downstream opportunity lies in medium voltage and engaging in cross-selling across businesses to focused verticals such as metal, water and special economic zone (SEZ), which comprise around 10% of its sales.
NEYVELI LIGNITE
RESEARCH: INDIABULLS FINANCIALS
RATING: HOLD
CMP: Rs 110
INDIABULLS has reiterated its ‘hold’ rating on Neyveli Lignite Corporation (NLC). However, any decline in the share price from the current level will be a good buying opportunity. As on March 14, ’08, NLC inked a memorandum of understanding (MoU) with Northern Coalfields to set up a 1,000-mw pit-head power station worth Rs 5,200 crore at Gorbi mines in the Singrauli coal fields. Moving ahead with regard to its capacity expansion plans, NLC is also holding talks with Mahanadi Coalfields (MCL) to set up a 2,000-mw pit-head power unit at Vasundhara mines in the IB Valley coalfields. With the increased energy deficit in NCL’s customer states, demand risks for the company are minimal. Moreover, NCL draws sustainable competitive advantage from its competitive capital cost, low variable cost of generation, and easily available lignite. However, lignite being a low-grade coal suffers from the disadvantage of lower plant load factor (PLF), thus resulting in reduced generation. To overcome these disadvantages and to improve PLF, the company is foraying into coal-based power plants, with the first one in Tuticorin of 1,000 mw, expected to be commissioned by FY10-12.
UNITECH
RESEARCH: CLSA
RATING: OUTPERFORM
CMP: Rs 267
UNITECH’S plans to raise $1bn+ have been delayed due to adverse market conditions. Hence, CLSA has cut the company’s FY10 consolidated volume estimates by 15% as Unitech will have moderate growth plans. A potential private equity for Mumbai business expansion can be a positive trigger in the near term. Taking into account the potential demand-supply issues and aggressive pricing strategy adopted by certain industry players, CLSA has reduced base residential price assumptions by 5-10% and has assumed a 10% correction in office/retail rentals over FY08-FY10. In the residential segment, 79% of projects are valued at Rs 3,000/square foot or less. CLSA has also raised the cap rate assumptions by 100-200 bps, driven by the rise in Singapore real estate investment trust (REIT) yields. With this, CLSA has set a 9% cap rate for office and 10% for retail. Based on the above changes in assumptions and cap rate, Unitech’s forward net asset value (NAV) comes off by 15% to Rs 365/share. Sensitivity analysis shows that if rentals and price assumptions are lowered by another 10%, the NAV will come down to Rs 304/share — 10% higher than the current stock price.
OPTO CIRCUITS INDIA
RESEARCH: NETWORTH STOCK BROKING
RATING: BUY
CMP: Rs 326
NETWORTH Stock Broking has recommended a ‘buy’ rating on the stock with one-year price target of Rs 429 — an appreciation of 30% from the current level. Opto Circuits operates in a niche area of manufacturing healthcare equipment in India. It is engaged in the design, development, manufacturing, marketing and distribution of medical electronic devices and monitoring products that employ sensing and detection techniques. Its product portfolio comprises sensors, probes, pulse oxymeters, patient monitoring systems and digital thermometers. Following the acquisition of Eurocor in FY06, Opto has successfully launched its bare-metal and drug eluding stents with focus on the Asian and European markets. It recently launched Dior, a unique drug eluding catheter, which can be used in the treatment of coronary in-stent restenosis and small diameter coronary artery lesions. Eurocor is the only company in the world to have obtained a CE certification for its drug eluting balloon catheters. Opto’s net sales and profits are expected to witness a compound annual growth rate (CAGR) of 42% and 41% from FY08E to FY10E. At the current market price of Rs 330, the stock trades at 23.6x and 16.9x its FY08E and FY09E diluted earnings, respectively.
CEAT
RESEARCH: EDELWEISS
RATING: BUY
CMP: Rs 97
EDELWEISS maintains a ‘buy’ recommendation on Ceat. The company sold 6.92 acres of the 31-acre land at its Bhandup plant for Rs 130 crore, valuing the property at Rs ~18.8 crore/acre. Of the total consideration, Rs 120 crore will be received by the company in Q4 FY08E and the balance in FY09E. The current sale will not impact the company’s production. Over the next 24-30 months, the company intends to shift capacity from Bhandup to a new facility at Ambernath or Patalganga, after which, the balance 24 acres will be sold. Ceat plans to increase capacity by 40 tonnes per day (tpd) at the new facility from the existing 240 tpd at the Bhandup plant. It also plans to set up a radial tyre facility at a cost of Rs 500 crore over the next 36 months. The company plans to incur a capex of Rs 200 crore each for FY09E and FY10E, which will be funded through land sale and internal accruals. With increased focus on outsourcing, original equipment manufacturer (OEM) volumes are set to increase. Given strong demand from the replacement market, Edelweiss has a positive outlook on Ceat. At current market price of Rs 115, the stock is trading at 5x FY08E (core) EPS of Rs 22.9 and 3.5x FY09E EPS of Rs 32.6.
----- With due apologies and full credits to Economic Times
........................... Click here to read more!
Sunday, 23 March 2008
Saturday, 22 March 2008
Wednesday, 19 March 2008
Stocks in FnO
Following is a list of top gainers and losers in the futures and options market in the NSE on the 18th March 2008 for the March series:
| Top Gainers | |||||
| % CHANGE | |||||
| SYMBOL | OPEN | HIGH | LOW | CLOSE | IN O.I. |
| NAUKRI | 765 | 789.25 | 720.1 | 762.8 | 247.5 |
| YESBANK | 139 | 146.8 | 121 | 126.65 | 33.68 |
| GBN | 132.6 | 142.9 | 124.1 | 124.15 | 26.87 |
| APTECHT | 168 | 175.95 | 163.2 | 174.9 | 15.89 |
| WELGUJ | 350 | 357.45 | 335.6 | 338.35 | 14.02 |
| IVRCLINFRA | 345 | 358 | 343.2 | 346.25 | 12.72 |
| RENUKA | 1006 | 1077.8 | 955 | 991.15 | 10.57 |
| COLPAL | 393.7 | 399.5 | 390.1 | 394.9 | 8.64 |
| PATELENG | 637 | 637 | 576.45 | 593.8 | 6.63 |
| SHREECEM | 990 | 1038 | 976 | 991.95 | 6.49 |
| HDIL | 534 | 543.15 | 486.3 | 510.25 | 6.01 |
| RELCAPITAL | 1108 | 1176.15 | 1050 | 1062.55 | 5.6 |
| BATAINDIA | 142 | 143.8 | 130.1 | 141.45 | 5.42 |
| Top Losers | |||||
| % CHANGE | |||||
| SYMBOL | OPEN | HIGH | LOW | CLOSE | IN O.I. |
| AIAENG | 1539 | 1539 | 1406 | 1427.35 | -79.61 |
| BHARATFORG | 255 | 261.45 | 243 | 248.35 | -32.26 |
| GTL | 237 | 241.5 | 234 | 235.7 | -31.94 |
| ULTRACEMCO | 828.1 | 875 | 775.8 | 798.15 | -27.72 |
| WIPRO | 355 | 373 | 353.55 | 361.5 | -22.5 |
| HINDALCO | 163 | 167.5 | 159 | 161.7 | -17.82 |
| BHARTIARTL | 739.85 | 777.95 | 738 | 762 | -16.45 |
| LUPIN | 465.15 | 490 | 449 | 473.8 | -12.66 |
| BHEL | 1800 | 1928.7 | 1800 | 1825.55 | -12.61 |
| AXISBANK | 794 | 805 | 753.3 | 780.45 | -12.12 |
| SAIL | 189 | 197.4 | 181.15 | 189.85 | -11.78 |
| CAIRN | 213.1 | 227.5 | 210.6 | 220.45 | -11.66 |
| AMBUJACEM | 117.5 | 120.4 | 117.5 | 119.4 | -11.24 |
| NUCLEUS | 190.1 | 209.4 | 180 | 190.1 | -11.11 |
| GUJALKALI | 134.1 | 142 | 134.1 | 140.4 | -10.39 |
| MAHLIFE | 408 | 408 | 330.05 | 378.25 | -10.3 |
| POLARIS | 75.15 | 81 | 72 | 75.4 | -10.22 |
| GRASIM | 2650 | 2734 | 2621.6 | 2654 | -10.13 |
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Stocks in Equity
Movement of stocks in equity section in NSE on the 18th March 2008 is as follows:
Top Gainers
| Symbol | Open Price | High Price | Low Price | LTP | Prev Close | % Change | Total trd qty |
| NUCHEM | 18.05 | 21.90 | 18.05 | 21.90 | 19.90 | 21.33 | 63505 |
| KANSAINER | 598.00 | 616.05 | 508.30 | 615.90 | 513.35 | 19.98 | 27155 |
| HCIL | 401.00 | 578.00 | 401.00 | 576.90 | 481.65 | 19.78 | 144911 |
| GSSAMERICA | 595.00 | 687.40 | 591.30 | 675.80 | 599.05 | 12.81 | 2900520 |
| ARIHANT | 280.35 | 369.90 | 280.35 | 314.90 | 340.00 | 12.32 | 102 |
| MANINDS | 96.00 | 114.90 | 96.00 | 110.95 | 99.00 | 12.07 | 107376 |
| KSOILS | 61.95 | 73.75 | 61.00 | 70.35 | 62.85 | 11.93 | 2675864 |
| GANESHHOUC | 330.00 | 348.00 | 281.30 | 327.80 | 293.90 | 11.53 | 14286 |
| SHRIRAMEPC | 205.00 | 240.00 | 194.00 | 227.40 | 204.25 | 11.33 | 55829 |
| ASTRAMICRO | 63.10 | 73.90 | 61.00 | 69.15 | 62.15 | 11.26 | 172245 |
Top Losers
| Symbol | Open Price | High Price | Low Price | LTP | Prev Close | % Change | Total trd qty |
| SOLEMS | 264.00 | 280.00 | 151.30 | 197.50 | 278.95 | -25.19 | 567381 |
| INDUSFILA | 149.00 | 149.00 | 117.80 | 119.90 | 147.25 | -18.57 | 23112 |
| SOLAREX | 360.00 | 385.00 | 310.00 | 314.50 | 383.10 | -17.91 | 7552 |
| SIMPLEX | 319.00 | 319.00 | 223.00 | 229.10 | 278.45 | -17.72 | 7439 |
| SHALPAINTS | 235.20 | 290.00 | 235.20 | 240.20 | 289.00 | -16.89 | 1298 |
| CLASSIC | 56.75 | 62.00 | 48.60 | 50.35 | 58.85 | -14.44 | 44395 |
| YESBANK | 142.00 | 146.00 | 121.00 | 127.40 | 147.95 | -13.89 | 4632084 |
| UNITY | 550.00 | 550.00 | 440.00 | 460.75 | 534.35 | -13.77 | 45772 |
| HINDSANIT | 40.00 | 46.30 | 38.25 | 39.60 | 45.10 | -12.20 | 29912 |
| KAMATHOTEL | 161.05 | 163.85 | 140.00 | 143.15 | 162.00 | -11.64 | 4970 |
Top Gainers - Nifty
| Symbol | Open Price | High Price | Low Price | LTP | Prev Close | % Change | Total trd qty |
| UNITECH | 261.00 | 285.90 | 256.20 | 276.95 | 263.15 | 5.24 | 7961261 |
| TATACOMM | 473.50 | 524.00 | 472.00 | 512.60 | 488.10 | 5.02 | 454018 |
| SIEMENS | 635.00 | 666.00 | 607.00 | 655.45 | 624.65 | 4.93 | 772373 |
| DLF | 612.70 | 645.80 | 601.00 | 635.70 | 607.85 | 4.58 | 5206932 |
| HCLTECH | 240.25 | 252.15 | 231.00 | 249.70 | 240.25 | 3.93 | 1501370 |
| HINDUNILVR | 222.70 | 236.55 | 219.25 | 231.55 | 222.80 | 3.93 | 4510586 |
| IDEA | 90.20 | 96.00 | 88.00 | 94.10 | 90.85 | 3.58 | 2787364 |
| BPCL | 400.00 | 419.80 | 390.35 | 403.95 | 390.80 | 3.36 | 891413 |
| TCS | 790.00 | 828.80 | 770.00 | 817.70 | 791.85 | 3.26 | 899020 |
| REL | 1165.00 | 1290.00 | 1150.10 | 1227.45 | 1189.65 | 3.18 | 3432950 |
Top Losers - Nifty
| Symbol | Open Price | High Price | Low Price | LTP | Prev Close | % Change | Total trd qty |
| TATAPOWER | 1110.00 | 1155.00 | 1040.05 | 1063.90 | 1128.45 | -5.72 | 1006336 |
| STER | 723.15 | 723.15 | 662.00 | 694.85 | 723.65 | -3.98 | 1672311 |
| TATASTEEL | 650.10 | 674.00 | 630.00 | 639.05 | 658.90 | -3.01 | 2175626 |
| SBIN | 1640.00 | 1655.00 | 1581.00 | 1592.55 | 1636.30 | -2.67 | 1281786 |
| HINDALCO | 163.00 | 168.00 | 158.65 | 161.25 | 164.25 | -1.83 | 3351775 |
| INFOSYSTCH | 1340.00 | 1361.00 | 1300.00 | 1314.60 | 1337.80 | -1.73 | 1841428 |
| RPL | 156.00 | 160.10 | 144.65 | 152.95 | 155.25 | -1.48 | 32442795 |
| ITC | 186.80 | 190.00 | 180.35 | 183.05 | 185.75 | -1.45 | 5167279 |
| ACC | 771.00 | 794.40 | 745.00 | 759.65 | 770.40 | -1.40 | 399022 |
| RELIANCE | 2249.80 | 2249.80 | 2120.00 | 2151.00 | 2180.20 | -1.34 | 3965487 |
Top Gainers - Junior Nifty
| Symbol | Open Price | High Price | Low Price | LTP | Prev Close | % Change | Total trd qty |
| CUMMINSIND | 284.70 | 298.90 | 260.00 | 295.50 | 273.60 | 8.00 | 790679 |
| AVENTIS | 805.00 | 805.00 | 752.00 | 789.20 | 751.50 | 5.02 | 1517 |
| CADILAHC | 240.90 | 245.95 | 235.00 | 244.90 | 236.35 | 3.62 | 15379 |
| TECHM | 640.00 | 659.00 | 631.25 | 641.00 | 620.30 | 3.34 | 239516 |
| PFC | 139.00 | 156.20 | 138.00 | 145.45 | 141.00 | 3.16 | 1830647 |
| PATNI | 190.15 | 204.50 | 190.00 | 202.85 | 197.25 | 2.84 | 143050 |
| INDHOTEL | 95.05 | 107.80 | 95.05 | 105.05 | 102.35 | 2.64 | 1305222 |
| ASIANPAINT | 1100.00 | 1140.00 | 1090.00 | 1133.85 | 1105.75 | 2.54 | 10813 |
| LUPIN | 470.00 | 489.70 | 450.15 | 480.80 | 471.05 | 2.07 | 46427 |
| IDFC | 137.00 | 144.60 | 135.00 | 138.90 | 136.85 | 1.50 | 6416702 |
Top Losers - Junior Nifty
| Symbol | Open Price | High Price | Low Price | LTP | Prev Close | % Change | Total trd qty |
| RELCAPITAL | 1125.00 | 1173.35 | 1045.90 | 1060.15 | 1139.00 | -6.92 | 6408316 |
| IOB | 128.50 | 131.90 | 118.00 | 120.25 | 129.00 | -6.78 | 219669 |
| CANBK | 212.00 | 216.90 | 199.35 | 201.80 | 215.20 | -6.23 | 1065234 |
| ABIRLANUVO | 1379.65 | 1418.95 | 1251.05 | 1295.55 | 1379.65 | -6.10 | 45216 |
| APOLLOTYRE | 38.00 | 38.70 | 36.10 | 36.50 | 38.70 | -5.68 | 668589 |
| KOTAKBANK | 595.05 | 614.70 | 554.75 | 564.35 | 598.10 | -5.64 | 1252619 |
| ANDHRABANK | 76.90 | 78.00 | 70.60 | 71.30 | 75.15 | -5.12 | 836838 |
| VIJAYABANK | 50.05 | 51.50 | 47.45 | 47.75 | 50.05 | -4.60 | 1232734 |
| AUROPHARMA | 245.80 | 265.00 | 245.60 | 247.50 | 257.85 | -4.01 | 273676 |
| IFCI | 44.90 | 46.95 | 43.15 | 43.75 | 45.50 | -3.85 | 17143197 |
........................... Click here to read more!
ADRs after the Fed Cut - 18th March 2008
| INFOSYS TECHN ADS (NasdaqGS:INFY) |
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| REDIFF.COM INDIA ADS (NasdaqGM:REDF) |
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| SIFY TECHS LTD ADS (NasdaqGM:SIFY) |
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| HDFC BANK LTD (NYSE:HDB) |
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| ICICI BK LTD ADS (NYSE:IBN) |
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| MAHANAGAR TEL ADS (NYSE:MTE) |
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| PATNI COMPUTER SYS (NYSE:PTI) |
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| DR. REDDY'S LAB LTD (NYSE:RDY) |
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| SATYAM COMPUTER SERV (NYSE:SAY) |
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| TATA MOTORS INC (NYSE:TTM) |
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| WIPRO LTD. (NYSE:WIT) |
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