Short Term Picks

Tuesday, December 1, 2009

BUY for Short term: Vijaya BANK Target 59-64, Supports at 49-45.50,CMP 54.25

Short Term Picks

BUY for Short term: GIC Housing Fin for 30 days Target 106,immediate Target 98  Supports at 89-87,CMP 94.50

market View

Wall Street finished with moderate gains yesterday led by mixed economic cues from Retail & Manufacturing segment while receding concerns over default by Dubai World and weakness in Dollar appended a rally in Banking, Commodity and Energy stocks. Major stock markets in Asia region are moving into the green after starting mixed.

Indian stock indices are expected to witness a narrow positive opening on Tuesday. The NSE Nifty is seen opening around 5044 and may move towards the first Target at 5064. If it stabilizes above this level, the positive momentum can extend the rally towards the Major Resistance zone at 5088. The Intra-day trend will remain bullish as long as Nifty trades above the Critical Support level at 5020. Below this level, Nifty will find Support at 4996 while the Major Support for the day comes at 4972.

market View

Monday, November 30, 2009

Stock market in US finished in the red in a truncated trading session on Friday as Debt concerns in Dubai pushed the Banking and Financial stocks lower while strength in Dollar triggered a fall in Commodity and Energy stocks. Asian stock markets are trading higher on Monday morning as markets reacted to the reassuring news that suggested; any contagion from Dubai World's debt crisis will be limited.

In the domestic stock markets are expected to open in the green following the trend in Asian equities. The NSE Nifty is expected to open around the first target of 4996. The Q2 GDP figures can give further direction to our markets wherein any surprise around 7% can move Nifty above 4996 in which case the Major Resistance is seen at 5034. A lesser than expected number can put pressure on Nifty, wherein the Critical Support for today is at 4955. In any downswing below 4955, the first Support comes at 4931 followed by Major Support at 4905.

US important data to watch:From 30/11/09 to 4/12/09

Sunday, November 29, 2009

Time (ET)      report             period
 
MONDAY, NOV. 30

9:45 am     Chicago PMI             Nov.
3:00 pm         Farm prices
   
Tuesday, Dec. 1

10 am      ISM Mfg index                     Nov.
10 am      Construction spending             Oct.
10 am      Motor vehicle sales             Nov.
10 am    Pending home sale index
12:20 pm Charles Plosser speakes

Wednesday, Dec. 2

8:15 am     ADP employment report     Nov.
10:30 am   EIA petrolium status report
2 pm        Beige Book
                       
Thursday, Dec. 3
              
8:30 am    Jobless claims           Nov. 28
8:30 am    Productivity revision     3Q
10 am        ISM nonmanufacturing     Nov.
10:30 am   EIA Natural gas report
           Ben Bernanke Speaks
           Barack Obama Speaks
        
Friday, Dec. 4

8:30 am    Nonfarm payrolls            Nov.
8:30 am    Unemployment rate            Nov.
8:30 am    Average hourly earnings     Nov.
10 am        Factory orders            Oct.
10:00 am   Charles Plosser Speaks
1:15 pm    James Bullard Speaks

market View

Friday, November 27, 2009

Stock markets around the globe are reeling under pressure from the overnight debt problems egressing from the Dubai world. Dubai accumulated $80 Billion of debt by expanding in Banking, Real estate and Transportation and has asked for a 6 month moratorium on those obligations. Stock markets in the Asia region are drifting lower in a low trading session on Friday. 

The Indian stock indices are expected to witness a sharp cut in the early morning trade. For The NSE Nifty, Critical level is seen around 4931 below which the first Support comes at 4905. There can be some Intraday bounce-back, if Nifty holds these levels wherein any upside move will face further selling at higher levels. The first Resistance for the market is seen at 4992. We can expect the volatility in Banking and Real estate stocks following the global events overnight.

market View

Thursday, November 26, 2009

 Key indices in the US finished with moderate gains on Wednesday in a low trading session, ahead of a truncated week. Market sentiment was boosted by upbeat economic reading on Jobless claims which fell to 466,000 against expectation of 500,000 and good New home sales number. All Major stock averages in Asia are trading lower in the lack of major cues globally.

The domestic stock markets are expected to open in the red and follow their Asian peers in the morning. For The NSE Nifty, the Critical Support for today is seen at 5062 and if Nifty stabilizes above this, it can try for an Intra-day recovery. The first hurdle for the market is at 5125 and higher to this, rollover momentum can take Nifty towards the Major Resistance at 5148. Below Critical level, Support exists at 5042 while a fall below this may enhance the unwinding pressure wherein the Major Support comes at 5016

Short Term Picks

Wednesday, November 25, 2009

BUY GSPL for 45 days Target of 110-120,Cmp 97,Support   88-82

market View

 mong the Indian stock indices, The NSE Nifty is expected to open in a range bound manner due to lack of any major triggers domestically or globally. The Critical Support level for today is seen at 5078 above which, the first hurdle is seen around 5118. A surge above 5118 will bring more cheer to the market which can rally towards 5138. Due to the affect of F&O rollover, we can expect either side momentum in trade today. Below Critical level, the first Support is seen at 5055. We expect some position unwinding if Nifty fall below 5055, wherein the Major Support comes at 5020

New Listing Today

Tuesday, November 24, 2009

  New Listing Today: Den Networks Ltd (BSE Code: 533137), a cable distribution entity with a pan-Indian footprint, will list its equity shares on the exchanges on November 24, 2009 (Today). It has fixed its issue price at Rs 195 per share...Its not trading with a premium at grey market.

market View

Wall Street propelled higher wherein the S&P reclaimed the 1100 mark led by encouraging economic data on Existing Home sales conjugated with rally in Energy and Commodity stocks as Crude oil and Metals prices surged. Asian stock markets are trading quietly on Tuesday despite strong positive cues from the West.

The subdued trend in Asia may force The NSE Nifty to open in the red and move in a sideways manner in the morning. The Critical Support for Intraday is seen at 5074 and the momentum is expected to be positive if Nifty stays above this level consistently. The Major Resistance comes at 5118 and on crossing this; we can expect strong movement towards 5138. Below the Critical level, Nifty may give away some of its gains and find Support around 5040. We can expect more position unwinding below 5040 wherein the strong Support is at 5014.

Short Term Picks

Monday, November 23, 2009

Buy for 15 days, AMBUJA CEM for a Target of  92-96, Support at 84-81,CMP 88.10