BSE index: (14275) Consider for this week...Island reversal on daily chart indicates selling initially on higher levels will be seen. Consider 14569 a nearest & 14850 a solid resistance up to which selling on higher levels will be seen keep stop loss of 14850 to your sales initially.
Downward side 14161 a nearest support break below which it'll fall down to 13986, 13937 & 13822 initially. Consider 13822 a solid support where again buying support will be seen. Break below 13822 some more panic will drag it down to 13767, 13639 & then 12845. Buy on extreme lower levels keeping stop loss of 12500.
Upward side a close above 14850 it'll turn bit positive & spurt up to 15268.
A close above 15268 it'll turn total positive & shoot up to 15790 & 16195.
Nifty: (4311) 4303 a nearest crucial support break below which it'll heavily fall down further to 4249, 4215 & 4161. Consider 4215 to 4161 a solid support area where heavy buying support not ruled out.
In ant worst scenario a close below 4161 it'll turn very weak & fall down heavily to 4062, 4000 & 3920. Buy on extreme lower levels keeping stop loss of 3879.
Upward side it'll face resistances at 4385 & 4464 initially, keep stop loss of 4464 to your sales.
A close above 4464 it'll turn positive & surge up to 4550 initially. A close above 4550 it'll turn total positive & shoot up to 4680 & 4802.
Monday, July 28, 2008
28-07-2008 Market Ahead:
Market Ahead:
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro. However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at $120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report. The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July consumer confidence & advance Q2 growth estimate by the government on July 31.
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro. However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at $120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report. The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July consumer confidence & advance Q2 growth estimate by the government on July 31.
28-07-2008 Market Ahead:
Market Ahead:
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week
on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets
has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the
CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many
companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down
sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,
Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has
been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro.
However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at
$120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic
slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their
forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report.
The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July
consumer confidence & advance Q2 growth estimate by the government on July 31.
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week
on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets
has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the
CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many
companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down
sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,
Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has
been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro.
However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at
$120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic
slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their
forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report.
The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July
consumer confidence & advance Q2 growth estimate by the government on July 31.
28-07-2008 Corporate News/ : Announcements
28-07-2008
Corporate News/ : Announcements
Chennai Petro pipeline to cost Rs 700 cr instead of Rs 65 cr : Circumstances have forced Chennai Petroleum Corporation Ltd (CPCL) to abandon a Rs 65.4-crore project and think of a Rs 700-crore alternative.Crude oil for CPCL’s 9.5-million-tonne refinery at Manali, north Chennai, needs to be brought to the Chennai port and piped down to the refinery. Today, a decades-old, 30-inch pipeline connects Chennai Port to CPCL’s Manali refinery, in north Chennai. For over three years now, CPCL has been planning to replace the pipeline with another 42-inch one.
NMDC-CMDC to speed up work at Chhattisgarh mine: NMDC-CMDC Ltd, the joint venture between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to expedite work on Deposit Number 13 of the Bailadila mines in Chhattisgarh.
NTPC plans 2,000 mw N-power unit: Joining the growing list of companies trying to tap the opportunity that is bound to arise out of a possible Indo-US nuclear deal, NTPC has drawn up plans to enter nuclear power generation by setting up a 2,000 megawatt (mw) project. In a report submitted to the Ministry of Power, NTPC, which has one-fourth of India’s installed power capacity, said it would operationalise the project within the next decade in two phases of 1,000 mw each.
RIL arm set to supply gas to 52 cities: RIL, which is set to become the single-largest gas producer in the country once its Krishna-Godavari gas hits full production, may also become the largest gas distributor soon with operations in 52 major cities. Reliance Gas Corporation (RGCL), a subsidiary of RIL, has emerged as the sole entity to submit expression of interest (EoI) for these cities. The company would have an exclusivity over gas distribution in these cities for five years as per the gas distribution policy.
ONGC keen to restart exploration on Kochi-Konkan coast : Oil and Natural Gas Corporation is to restart its oil exploration on the Kochi-Konkan coast in the near future. Earlier in 2004, ONGC had made exploration along the coast by deploying two rigs although it did not generate the desired results.
Reliance Power to borrow $4 b for new projects : Reliance Power Ltd, the power generation company of Anil Ambani group, said the company has received approval from the Reserve Bank of India to borrow $4 billion as external commercial borrowing in order fund two mega power projects. The large sum would be utilised for constructing two ultra mega power projects, each having 4,000 MW capacity. The plants would be located in Sasan, Madhya Pradesh and Krishnapatnam in Andhra Pradesh .
Exide to invest Rs 180 cr on capacity expansion : Exide Industries Ltd will invest Rs 180 crore towards capacity expansion of both automotive and industrial batteries in this fiscal.
Zensar to set up facilities in Pune, Hyderabad : Zensar Technologies is setting up facilities, each with 300 seats, one at the EON SEZ in Pune and another in Hyderabad. Zensar, is being set up at EON, an SEZ for IT and ITeS in Kharadi, and is expected to be ready by August this year. EON is an SEZ spread over 45 acres and has four blocks, of which two are functional. The facility in Hyderabad is expected to be operational by February 2009. Both the 300-seater facilities would initially start with IT services and may extend them to its BPO services later.
Corporate News/ : Announcements
Chennai Petro pipeline to cost Rs 700 cr instead of Rs 65 cr : Circumstances have forced Chennai Petroleum Corporation Ltd (CPCL) to abandon a Rs 65.4-crore project and think of a Rs 700-crore alternative.Crude oil for CPCL’s 9.5-million-tonne refinery at Manali, north Chennai, needs to be brought to the Chennai port and piped down to the refinery. Today, a decades-old, 30-inch pipeline connects Chennai Port to CPCL’s Manali refinery, in north Chennai. For over three years now, CPCL has been planning to replace the pipeline with another 42-inch one.
NMDC-CMDC to speed up work at Chhattisgarh mine: NMDC-CMDC Ltd, the joint venture between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to expedite work on Deposit Number 13 of the Bailadila mines in Chhattisgarh.
NTPC plans 2,000 mw N-power unit: Joining the growing list of companies trying to tap the opportunity that is bound to arise out of a possible Indo-US nuclear deal, NTPC has drawn up plans to enter nuclear power generation by setting up a 2,000 megawatt (mw) project. In a report submitted to the Ministry of Power, NTPC, which has one-fourth of India’s installed power capacity, said it would operationalise the project within the next decade in two phases of 1,000 mw each.
RIL arm set to supply gas to 52 cities: RIL, which is set to become the single-largest gas producer in the country once its Krishna-Godavari gas hits full production, may also become the largest gas distributor soon with operations in 52 major cities. Reliance Gas Corporation (RGCL), a subsidiary of RIL, has emerged as the sole entity to submit expression of interest (EoI) for these cities. The company would have an exclusivity over gas distribution in these cities for five years as per the gas distribution policy.
ONGC keen to restart exploration on Kochi-Konkan coast : Oil and Natural Gas Corporation is to restart its oil exploration on the Kochi-Konkan coast in the near future. Earlier in 2004, ONGC had made exploration along the coast by deploying two rigs although it did not generate the desired results.
Reliance Power to borrow $4 b for new projects : Reliance Power Ltd, the power generation company of Anil Ambani group, said the company has received approval from the Reserve Bank of India to borrow $4 billion as external commercial borrowing in order fund two mega power projects. The large sum would be utilised for constructing two ultra mega power projects, each having 4,000 MW capacity. The plants would be located in Sasan, Madhya Pradesh and Krishnapatnam in Andhra Pradesh .
Exide to invest Rs 180 cr on capacity expansion : Exide Industries Ltd will invest Rs 180 crore towards capacity expansion of both automotive and industrial batteries in this fiscal.
Zensar to set up facilities in Pune, Hyderabad : Zensar Technologies is setting up facilities, each with 300 seats, one at the EON SEZ in Pune and another in Hyderabad. Zensar, is being set up at EON, an SEZ for IT and ITeS in Kharadi, and is expected to be ready by August this year. EON is an SEZ spread over 45 acres and has four blocks, of which two are functional. The facility in Hyderabad is expected to be operational by February 2009. Both the 300-seater facilities would initially start with IT services and may extend them to its BPO services later.
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