RIL: (2179) 2189 a solid resistance. Break below 2105 fresh selling will be seen.
RCOM: (512) Sell. Break below 499 heavy selling will underway.
REL INFRA: (987) Break below 960 heavy fresh selling will underway. 1032 & 1065 solid resistances.
SBI & PNB: Sell.
ICICI Bank: (664) 646 & 622 crucial supports. Break below 622 fresh selling will be seen.
Upward side 668 & 690 solid resistance & trend decider.
KOTAK Bank: (578) 564 a crucial support & 545 a trend decider. Crossover above 584 up surges will be seen.
L&T: (2724) 2699 a nearest support & 2600 a trend decider. Crossover above 2800 up surges will be seen.
BHEL: (1649) 1610 & 1745 crucial trend deciders.
TISCO, STERLITE, HINDALCO, NALCO & JINDAL STEEL: Looks weak.
Tuesday, July 29, 2008
29-07-2008 Corporate News
Corporate News/ : Announcements
Four Pakistani troops and an Indian soldier were reported killed in a skirmish on the Line of Control on Monday, in the most serious fighting between the two armies since a ceasefire went into force in 2003.An Indian Army spokesperson said the fighting began after 15 Pakistani troops, waving a white flag, signalled
they wished to parley with soldiers at an Indian post near the border town of Handwara. Pakistani troops apparently called for the parley to protest against the construction of new Indian Army fortifications close to Eagle Post, on the LoC.
Reliance Infra in cooperation agreement with Shanghai Electric: Reliance Infrastructure belonging to
Anil Ambani group has signed an agreement with Shanghai Electric Corporation of China for implementing
its mega plans in power sector. It has signed a framework agreement for long term cooperation with
Shanghai Electric for various identified areas in Indian power sector.As per the agreement Shanghai
Electric would give Reliance Infra the "most favoured customer" status while Reliance would give
Shanghai Electric the "most favoured supplier" status.
Binani Cement mulls floating international subsidiary: Binani Cement is planning to float an
international subsidiary to bring its all overseas assets and operations, including two proposed grinding
units in Africa and a coal mine in Indonesia, under one umbrella. It has operations in China and Dubai
with a combined cement manufacturing capacity of 2.3 million tonnes. The company plans to increase
the cumulative capacity to 4.75 million tonnes by June next year with an investment of $175 million.
Dr Reddy`s to form JV for off-patent drugs: Dr Reddy’s Laboratories will form a joint venture with one
of the world’s biggest biotech companies to make biosimilars or generic versions of patented biotech drugs
to take on Ranbaxy Laboratories, Reliance Life Sciences, among other Indian companies. Several drugs are
expected to come off patent in this segment in the next five years. Dr Reddy’s plans to invest over Rs 175-
200 crore for the development and manufacturing of biosimilars in the next one or two years.
Ashok Leyland to develop new range of trucks by 2012: Ashok Leyland will have a completely new
product portfolio by 2012-13. It is developing a new full range truck platform and a new cabin built under
modular construction. It announced the development of new six-cylinder engine code named Neptune,
from 4.7 up to eight litres capacity with cooled exhaust gas recirculation (EGR) and select catalytic
recirculation (SCR) options.
Great Offshore bags ONGC order: Great Offshore bagged an engineering contract worth Rs 234
crore from Oil and Natural Gas Corporation. The contract involves carrying out transportation as well
as installation work on 79 offshore platforms of ONGC. It is scheduled to be completed by the middle
of the calendar year 2010.
Four Pakistani troops and an Indian soldier were reported killed in a skirmish on the Line of Control on Monday, in the most serious fighting between the two armies since a ceasefire went into force in 2003.An Indian Army spokesperson said the fighting began after 15 Pakistani troops, waving a white flag, signalled
they wished to parley with soldiers at an Indian post near the border town of Handwara. Pakistani troops apparently called for the parley to protest against the construction of new Indian Army fortifications close to Eagle Post, on the LoC.
Reliance Infra in cooperation agreement with Shanghai Electric: Reliance Infrastructure belonging to
Anil Ambani group has signed an agreement with Shanghai Electric Corporation of China for implementing
its mega plans in power sector. It has signed a framework agreement for long term cooperation with
Shanghai Electric for various identified areas in Indian power sector.As per the agreement Shanghai
Electric would give Reliance Infra the "most favoured customer" status while Reliance would give
Shanghai Electric the "most favoured supplier" status.
Binani Cement mulls floating international subsidiary: Binani Cement is planning to float an
international subsidiary to bring its all overseas assets and operations, including two proposed grinding
units in Africa and a coal mine in Indonesia, under one umbrella. It has operations in China and Dubai
with a combined cement manufacturing capacity of 2.3 million tonnes. The company plans to increase
the cumulative capacity to 4.75 million tonnes by June next year with an investment of $175 million.
Dr Reddy`s to form JV for off-patent drugs: Dr Reddy’s Laboratories will form a joint venture with one
of the world’s biggest biotech companies to make biosimilars or generic versions of patented biotech drugs
to take on Ranbaxy Laboratories, Reliance Life Sciences, among other Indian companies. Several drugs are
expected to come off patent in this segment in the next five years. Dr Reddy’s plans to invest over Rs 175-
200 crore for the development and manufacturing of biosimilars in the next one or two years.
Ashok Leyland to develop new range of trucks by 2012: Ashok Leyland will have a completely new
product portfolio by 2012-13. It is developing a new full range truck platform and a new cabin built under
modular construction. It announced the development of new six-cylinder engine code named Neptune,
from 4.7 up to eight litres capacity with cooled exhaust gas recirculation (EGR) and select catalytic
recirculation (SCR) options.
Great Offshore bags ONGC order: Great Offshore bagged an engineering contract worth Rs 234
crore from Oil and Natural Gas Corporation. The contract involves carrying out transportation as well
as installation work on 79 offshore platforms of ONGC. It is scheduled to be completed by the middle
of the calendar year 2010.
29-07-2008 Market Today
Break below 14161 & 4303 heavy fresh selling will be seen.
4395 a solid resistance for NIFTY.
BSE index: (14349) Consider 14320 a nearest & 14219 a crucial support, keep strict stop loss of 14161 to your buys.
Break below 14161 heavy fresh selling will be seen & it'll fall down to 14050 & 13945initially. Break below 13945 further panic will drag it down to 13822-13775.
Upward side 14484 a crucial resistance crossover above which it'll surge up to 14549 & 14624 in a disguised manner, keep stop loss of 14624 to your sales. Crossover above 14624 only it'll sustain on higher levels & flare up to 14696 & 1485..
Nifty: (4332) Consider 4365 a nearest & 4395 a solid resistance up to which selling on higher levels will be seen, keep stop loss of 4395 to your sales.
Downward side 4303 a crucial support break below which it'll fall down heavily to 4252, 4215 & then 4165.
Upward side crossover above 4395 it'll turn positive for the day & surge up to 4465 & 4505 in a disguised manner.
4395 a solid resistance for NIFTY.
BSE index: (14349) Consider 14320 a nearest & 14219 a crucial support, keep strict stop loss of 14161 to your buys.
Break below 14161 heavy fresh selling will be seen & it'll fall down to 14050 & 13945initially. Break below 13945 further panic will drag it down to 13822-13775.
Upward side 14484 a crucial resistance crossover above which it'll surge up to 14549 & 14624 in a disguised manner, keep stop loss of 14624 to your sales. Crossover above 14624 only it'll sustain on higher levels & flare up to 14696 & 1485..
Nifty: (4332) Consider 4365 a nearest & 4395 a solid resistance up to which selling on higher levels will be seen, keep stop loss of 4395 to your sales.
Downward side 4303 a crucial support break below which it'll fall down heavily to 4252, 4215 & then 4165.
Upward side crossover above 4395 it'll turn positive for the day & surge up to 4465 & 4505 in a disguised manner.
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