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Day Trading Calls with Market Review for 10 Mar 2010

Tue, 09 Mar 2010 18:58:42 +0000

After remaining sideways for two days, today, Nifty moved down and closed below the upper Bollinger band. From here 5049 is the minor support and if Nifty breaches this level it will be an early signal of a next move down. The index was moving up holding its upper Bollinger band and had a high probability that it might reverse down to test its mean. There was negative divergence on the hourly momentum indicator, which had put some pressure on Nifty, however the momentum continues to be in buy mode, which doesn’t signals any weakness yet. So, we continue to maintain our short-term bias up.

Nifty Close 5102

Nifty Support 5068-5049-4967

Nifty Resistance 5147-5170-5200

Sell TCS Below 759 SL 770 TGT 740
Sell DLF Below 307 SL 311.80 TGT 307-300
Sell L& T Below 1560 SL 1586 TGT 1525
Sell ICICI Bank Below 910 SL 924.8 TGT 890

Day Trading Calls with Market Review for 09 Mar 2010

Mon, 08 Mar 2010 17:55:00 +0000

Nifty opened on upside after two days of consolidation. So the pullback is still extending on upside with target being the 78.6% retracement of the fall from 5310 to 4675, which also coincides with the aggressive target of the inverted head and shoulders pattern. The daily momentum indicator continues to be in buy mode and above the zero reference line, which is positive for the bulls in the short term. Nifty is moving up in a parallel channel holding its upper band of the Bollinger Bands, so there exist a high probability that once the pullback is done it will fall down to its mean at least. On the lower side, 5049 is a minor. We continue to maintain our short-term bias up.

Nifty Close 5124

Nifty Support 5068-5049-4967

Nifty Resistance 5147-5170-5200

Buy ACC 989-990 SL 984 TGT 1003-1009
Buy Areva 277-278 SL 271.80 TGT 284-288
Sell Tata Steel 621 SL 633 TGT 610-595
Sell Tata Motor Below 783 SL 797 TGT 765

Day Trading Calls with Market Review for 08 Mar 2010

Mon, 08 Mar 2010 02:37:52 +0000

Nifty traded in a narrow band for the second consecutive day after a sharp pullback post Union Budget. The market is struggling to sustain above 61.8% retracement level. Being incredulous at this juncture, it is safe to maintain a reversal at 4992 level, as a break below will be an early sign of the next leg down. On the upside, above 61.8% retracement, the next level is 78.6% retracement i.e. close to the aggressive target of the inverted head and shoulders pattern formed at 200 daily moving average (DMA). A positive weekly close above 20 weekly moving average (WMA) builds hopes for the bulls of a fresh leg on the upside, but the fall was in a five-wave declining pattern, which is more convincing and favours bears only in the medium term. So, quite a lot of pullback has been established and there may be some more on the upside, but the overall scenario looks grim. We continue to maintain our short-term bias up till 4992 is held on the lower side.

Nifty Close 5088

Nifty Support 5049-5020-4992

Nifty Resistance 5120-5152-5178

Buy Maruti 1455-1458 SL 1428 TGT 1484-1498

Sell Infosys 2633 SL 2655 TGT 2600

Buy BPCL 540 SL 532 TGT 550-560

Buy DLF Above 322 SL 318 TGT 329

DQ Entertainment International Ltd IPO

Sat, 06 Mar 2010 15:28:23 +0000

Animation and gaming firm DQ Entertainment (International) Ltd plans to raise up to 1.28 billion rupees through an initial public offer of 16.05 million shares.

The company has set a price band of 75-80 rupees a share for the issue, which would constitute 20.24 percent of the post-issue capital, it said in a statement.

The funds raised from the issue will be used for investment in co-production deals, development of production units and office facilities, investment in its Ireland unit and for general corporate purposes, it added.

The company plans to spend 520 million rupees in 2010/11 for setting up a special economic zone in Andhra Pradesh, said Rashida Adenwala, head company affairs and investor relations for DQ Entertainment.

It is also spending 1 billion rupees on development of intellectual properties in 2009/10 and 2010/11, Adenwala added at a media briefing.

DQ Entertainment, which already employs over 2,800 people, is likely to hire about 600 employees more, mostly for the upcoming SEZ, Tapaas Chakravarti, chairman and chief executive, said.

The company, which derives 70-72 percent of its revenue from Europe and rest from the US, has an order book of $95.07 million, Chakravarti said.

DQ posted a profit of 161 million rupees on total sales of 1.5 billion rupees for the year ended March 2009.

In February, DQ raised 256.9 million rupees through a pre-IPO share sale to IDFC Investment Advisors and other corporate and high net worth investors, with IDFC taking the largest chunk of shares worth 200 million rupees.

DQ has produced/co-produced and distributed brands such as Iron Man — the first 3D animated TV series, Twisted Whiskers, Casper, third season of Mickey Mouse Clubhouse and is now producing properties like Little Prince and Little Nicolas.

The global animation market, estimated at $68 billion in 2008, is expected to grow at a compounded annual growth rate of 10 percent to hit $100 billion by 2012, according to a Nasscom-Ernst & Young report quoted in the red herring prospectus.

The issue opens on March 08, 2010, and closes for subscription on March 10, 2010. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

IPO Review By India Bulls:- DQ Entertainment International IPO Report By India Bulls (69)

IPO Review By SMC:- DQ Entertainment International Limtied IPO Report By SMC (52)

Fitch Report :- Fitch Report For DQ Entertainment International LTD IPO (48)

SEBI allows physical delivery in derivatives segment

Sat, 06 Mar 2010 14:32:04 +0000

Capital market regulator, Sebi, today said that it has decided to allow physical delivery in the derivatives segment but no timeline has been fixed for this. “The Sebi Board has decided to allow physical delivery in the derivatives segment. There has been a demand for this for some time now and the Board felt that there was some substance in this,” Sebi Chairman, C B Bhave, told reporters here today.

Sebi will discuss with the stock-exchanges and institute an appropriate mechanism for physical delivery in derivatives market, he said.

“This issue would now be discussed with the stock-exchanges and an appropriate mechanism for physical delivery in derivatives would be evolved,” Bhave said.

“There will be a need for proper risk-containment systems,” he added.

Long-term contracts in derivatives, now only for three-years, would be possible for five-years, he said.

“The Board felt that the time is right and we have seen volumes build-up there. Long-term contracts up to five-years will also be possible,” he said.

The Sebi Board, in its meeting today, also took a decision that in the primary issuance process, Qualified Institutional Buyers (QIBs) will be required to pay 100 per cent money in line with other investors on or after May 1 this year, Bhave said.

Asked about life insurers replying to Sebi’s notice to them on the ULIPs issue, Bhave said that insurance companies have sent in their replies and Sebi would go through their replies.

“We will consider their replies. Any action we take will be made public–presently, their replies are under our consideration,” he said.

The Sebi Chief also said that the choice remained with issuers whether to adopt the French auction route for their issuances or not.

“It (French auction) is not prescribed by Sebi,” he said.

Asked whether Sebi would intervene in case of a war of words between corporates during open offers as was evidenced in a couple of instances recently, Bhave said that Sebi cannot regulate things out of the market.

“Whenever there is corporate rivalry, an exchange of words is unavoidable. Sebi cannot regulate out of market but if any regulation or law is violated, then we will look into it,” he said.

Source:- Economictimes

Day Trading Calls with Market Review for 3 March 2010

Tue, 02 Mar 2010 15:24:10 +0000

The Nifty closed above the 5000 level after retesting the Head-and-Shoulder (H&S) pattern and has achieved the conservative target for the pattern, retracing over 50% of the fall from 5310 to 4675. Now, above 5000 the next resistance is at the 61.8% retracement level. The strong resistance area for the Nifty was the 20-WMA, which was at 4995 for today, and it has closed above it. This is again a feather in the cap for the bulls in the short term. The Nifty is trading above the 20-DMA and the 40-DEMA with the daily momentum indicator in the buy mode. This is also a positive in the short term. So, we revise our short-term target to 5070.

Nifty Closed 5017

Nifty Support 4947/4900/4834

Nifty Resistance 5070/5120/5150

Buy Cipla 315 SL 308.70 TGT 321-328
Sell Tech Mahindra 898-900 SL 918 TGT 878-868-846
Buy DLF Above 297 SL 292.7 TGT 303-305.8
Buy SBI Above 2020 SL 1996 TGT 2060

ARSS Infrastructure Project IPO Listing

Tue, 02 Mar 2010 14:31:42 +0000

ARSS Infrastructure Project IPO will list on Wednesday, March 03, 2010. Issue price of this IPO has been fixed at Rs 450/- per share. IPO was oversubscribed by 47.62 times (18.5487 times in retail). ARSS Infrastructure Projects Ltd is Orissa-based Construction Company which is engaged in construction of railway infrastructure, roads, highways, bridges and irrigation projects in India. ARSS have business activities in the zonal jurisdictions of East Coast Railway, South Eastern Railway, South East Central Railway, Southern Railway and North Western Railway. ARSS also engaged in the railway construction projects, which includes earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails, linking of tracks etc. ARSS have completed around 200 km rail line and about 300 km of roads and highways.

IPO Listing Detail

Listing Date: Wednesday, March 03, 2010
BSE Script Code: 533163
NSE Symbol: ARSSINFRA
Listing In: ‘B’ Group of Securities
ISIN: INE267I01010
Issue Price: Rs. 450.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share

Union Budget Review Reports

Sat, 27 Feb 2010 15:14:45 +0000

Angel Securities:- Union Budget 2010-11 Reivew By Angel Securities (321)

IDFC SSKI Research:- Union Budget 2010-11 By IDFC SSKI Research (272)

Religare:- Union Budget 2010 -11 By Religare (192)

Reliance Securities:- Union Budget Report 2010-11 By Reliance Securities (222)

Sharekhan:- Budget Special Report By Sharekhan (130)

ICICI Direct:- Union Budget2010-2011 Highlights By ICICIdirect (124)

HDFC Securities:- Union Budget Analysis By HDFCSec (173)

Union Budget 2010-2011

Sat, 27 Feb 2010 14:06:39 +0000

INCOME TAX

Individual

Existing	Proposed
From Rs.1,60,001 to Rs 3,00,000 -10%	From Rs.1,60,001 to Rs 5,00,000 -10%
From Rs.3,00,001 to Rs 5,00,000 -20%	From Rs.5,00,001 to Rs 8,00,000 -20%
Above Rs.5,00,000 -30%	Above Rs.8,00,000 -30%

Additional investment of Rs 20,000 in infra bonds over and above Rs 1 lakh in 80C.
Enhance tax audit limits for professionals to Rs 15 lakh

Corporate

Reduces current surcharge of 10% on domestic comp to 7.5%
Peak excise duty hiked from 8% to 10%
Weighted deduction from 150% to 200% for in-house R&D
Limits for turnover for purpose of presumptive taxation of small business enhanced to Rs 60 Lakhs

TAX – OTHERS

Goods and Service Tax (GST) and Direct Tax Code (DTC)

Implementation of GST and DTC by April 2011

MAT

Minimum Alternate Tax up from 15% to 18% on book profits

AGRICULTURE

Will reduce fertilizer subsidy
Focus to improve food security
To provide Rs 400 cr to extend green revolution to eastern India
Sets aside Rs 200 cr for a new agricultural initiative
Repayment tenure for farmer loans extended by 6 months to June 30th 2011
To provide 2% loan subsidy to farmers
Proposes to increase subvention to 5% in repayment of farmer loans
Allocates Rs 1,200 cr for drought mitigation
Agri credit flow target for this year increased to Rs 3,75,000 cr from Rs 3,25,000 cr last year
To set up 5 more mega food park projects
Rs 300 cr for Rashtriya Krishi Yojna
Rs 100 cr allocated for women farmers
External commercial borrowing will be available for food storage industries

EDUCATION

Govt allocates Rs 31,036 cr for school education and Rs 3,675 cr for elementary education

INDUSTRIES Automobile and Ancillaries

Excise duty on large cars, SUVs, multi utility vehicles raised to 22% from 20%
Full excise cut on electric cars

Banking & Financial Companies

Sets aside Rs 16,500 cr for PSU banks to get minimum 8% tier 1 capital by March 2011
RBI to release additional licenses to pvt sector banks and non-banking financial institutions
Repayment tenure for farmer loans extended by 6 months to June 30th 2011
Agri credit flow target for this year increased to Rs 3,75,000 cr from Rs 3,25,000 cr last year
To provide 2% loan subsidy to farmers
Proposes to increase subvention to 5% in repayment of farmer loans
IIFCL disbursements at Rs 9,000 cr by March 2010
Housing loan: 1% interest subvention scheme extended, allocation Rs 700 cr
Allocates Rs 100 cr for new pension scheme, to benefit 100,000 low income citizens
All villages with 2000+ population to get banking facilities by 2012

Cement

Partial rollback of excise duty on cement

Infrastructure & Engineering

44% of total plan outlay allocated to infrastructure
Budget allocates Rs 1.73 lakh cr for infrastructure
IIFCL disbursements at Rs 9,000 cr by March 2010
Delhi-Mumbai industrial corridor taken up for development
Road transportation kitty increased 13% to Rs 19,894 cr
Govt allocates Rs 16,500 cr for railways
Rs 66,1000 cr allocated for rural development in FY11
35% of development funds to be invested in rural India
Urban development allocation up more than 75% to Rs 5,400 cr
Rs 100 cr for financial inclusion fund; Allocation for Bharat Nirman at Rs 48,000 cr
Additional Rs 20,000 deduction available for investment in infra bonds
Government committed to SEZs to promote exports
No import duty on some equipment in road projects

Fertilizer

To provide govt subsidy in cash instead of bonds for fertilizer
Will reduce fertilizer subsidy
Rs 300 cr for Rashtriya Krishi Yojna

FMCG

To set up 5 more mega food park projects
External commercial borrowing will be available for food storage industries
35% of development funds to be invested in rural India
Rs 66,100 cr allocated for rural development in FY11
Duties on smoking and non-smoking tobacco products up

Gems & Jewellery

Import duty on silver raised to Rs 1,500 per kg

Healthcare

Focus to improve healthcare systems
Govt allocates Rs 22,300 cr to healthcare
Weighted deduction from 150% to 200% for in-house R&D

IT/ITES

UID authority given Rs 1,900 cr
Government committed to SEZs to promote exports

Oil & Gas

To discuss Kirit Parikh report in due course
Petroleum products: basic duty of 5% crude , 7.5% on diesel & petrol; 10% on refined products
Rs 1 per litre excise on petrol, diesel
To provide govt subsidy in cash instead of bonds for oil

Power

Govt to facilitate 20,000 MW of solar power by 2022
Govt to have a coal regulator for allocation of coal blocks
To levy clean energy cess on imported coal
Funds for power allocation raised from Rs 2,232 cr to Rs 5,132 cr
Propose to hike allotment for renewable energy by 61%
For solar mission, solar power generating units rates are to be reduced by 5%
Cut in duty for photovoltaic units

PSU

Divestment proceeds budgeted higher in FY11 vs FY10
Govt to raise Rs 25,000 cr through disinvestment

Real Estate

Indira Awas Yojana: allocation up by Rs 10,000 cr
Sops for real estate, housing projects extended by a year
Housing loan: 1% interest subvention scheme extended to March 2011, allocation Rs 700 cr
Delhi-Mumbai industrial corridor taken up for development

Telecommunication

Allocation for Bharat Nirman at Rs 48,000 cr
Mobile accessories market to get tax breaks

Textile

FM extends interest subvention of 2% for exports of handlooms, handicrafts and SMEs for 1 year
Exclusive skill development programme in textile and garment sector
Khadi institutes get Rs 400 cr
GOI sign USD 150 mn deal with ADB for implementing Khadi programme
One time grant of Rs 200 cr to Tamil Nadu for textiles
Government committed to SEZs to promote exports

Tourism

To boost tourism investment, offers investment linked tax deductions
Rs 200 cr for Goa to restore beaches

Day Trading Calls with Market Review for 26 Feb 2010

Thu, 25 Feb 2010 17:59:03 +0000

Nifty has closed with a perfect candlestick pattern–Doji- -before the most-awaited event of the year, clearly indicating the confusion among the bulls and the bears in the triangle formed, which took a week to get completed. Now, with the daily momentum still in buy mode and 4805 still holding, it seems that the short-term momentum is favouring bulls, but looking at weekly momentum, the picture appears much clearer that the pullback will fizzle out soon. So, all eyes on 4805 and the Finance Minister Pranab Mukherjee as that is going to be the decider and it would be an interesting spectacle to watch whether the box carried by him would be cash rich or empty for investors. Technically, till 4805 is held, we continue to maintain our short-term bias up.

Nifty Closed 4860

Nifty Support 4805/4784/4748

Nifty Resistance 4922/4951/5008

Sell Sunpharma 1520-1522 SL1538 TGT 1495
Buy DLF above 294 SL 289 TGT 302-305
Buy Reliance Above 980 SL 964 TGT 1000-1016
Sell Tata Motors Below 658 SL 665 TGT 546-540