The election results and likely re-grouping will decide the Monday direction but the move so far is in favour of the bulls. The results out come may be negative for a day or two but the markets likely to resume the up-trend as the bottom formation right from the 3080 is good, consolidated at each stage with 200 points gap up to 3510-3530 level. So the panic sell-off on speculative rise can be restricted at 3361-51 level.
Market PULSE check by Stock-O-Meter: The Following scrips covered in my previous posting: The high, low, closings of 15-05-09:
NIFTY 3686.25 3597.85 3671.65
ICICI 579 542 574.70
RIL 1960 1911.65 1950.7
REL INFRA 847.7 808.35 820.20
REL CAP 598.9 575 591.55
ONGC 852.95 802.35 813.15
AXIS BANK 680 644.70 659.60
DLF 264.90 251.60 258.05
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
Saturday, May 16, 2009
Friday, May 15, 2009
Caution or Chance....?
Yester day trade gained strength from the bottom is amazing despite of the weak signals from the political front in the country and also the overseas markets. The kind of buying emerging when the market falls provides an impression that the markets are likely to touch 4000 in near future if it closes and trades above 3622 with a condition that the markets shall not touch a low of 3440 level in near future due to uncertainty emerges after the results.
To day markets are in green and the SGX is suggesting a possible positive opening at 3630-40 level. The Nifty is good above 3624 level and weak below 3580 level for today. The Nifty may face series of resistance till it consolidates above the resistance at 36654-58 level.
The Reliance is still in Bull grip so long it trades above 1850-40 level, any move above is considered as consolidation process. The scrip may today see a correction in case it fails to trade above 1940 level.
The story of ONGC is different to script as it was forced to accept the transport costs of Cairn fields in Rajastan and the losses of OMC’s placing pressure to cross the 900 mark but it is likely to face serious resistance at 868-864.
The Rel infra has made a decent up move by crossing the resistance at 803-06 level, now the crucial point stands at 796-93 level.
The ICICI Bank despite of the up move it made long with other counters but failed to cross the resistance at 339-41 level. The ADR gained 6% shall reflect in today’s trade to cross the resistance at 661-59 level came two days back but will the poll results place the hurdle?
The Axis bank which continued to attract buying support on all declines failed to do so is sending a feeler on the market condition. In case it catches up on with the rest today then there is nothing serious otherwise…?. The bottom support was at 610-06 level and the scrip shall cross the immediate resistance at 653-55 level.
The Relcap is finding difficult to trade above 575 level but found support at 540 level. The counter is facing resistance between 575-590 level.
The come back of the reality sector is heartening for investors who lost the most in the recent fall but a long way to go to cover the distance.
The DLF as suggested in my earlier postings got support at 220 level and continued to enjoy the support as bottom boundary for 21 series of trading sessions except that 190.55 touched in the stake sale on 13th May.
To day markets are in green and the SGX is suggesting a possible positive opening at 3630-40 level. The Nifty is good above 3624 level and weak below 3580 level for today. The Nifty may face series of resistance till it consolidates above the resistance at 36654-58 level.
The Reliance is still in Bull grip so long it trades above 1850-40 level, any move above is considered as consolidation process. The scrip may today see a correction in case it fails to trade above 1940 level.
The story of ONGC is different to script as it was forced to accept the transport costs of Cairn fields in Rajastan and the losses of OMC’s placing pressure to cross the 900 mark but it is likely to face serious resistance at 868-864.
The Rel infra has made a decent up move by crossing the resistance at 803-06 level, now the crucial point stands at 796-93 level.
The ICICI Bank despite of the up move it made long with other counters but failed to cross the resistance at 339-41 level. The ADR gained 6% shall reflect in today’s trade to cross the resistance at 661-59 level came two days back but will the poll results place the hurdle?
The Axis bank which continued to attract buying support on all declines failed to do so is sending a feeler on the market condition. In case it catches up on with the rest today then there is nothing serious otherwise…?. The bottom support was at 610-06 level and the scrip shall cross the immediate resistance at 653-55 level.
The Relcap is finding difficult to trade above 575 level but found support at 540 level. The counter is facing resistance between 575-590 level.
The come back of the reality sector is heartening for investors who lost the most in the recent fall but a long way to go to cover the distance.
The DLF as suggested in my earlier postings got support at 220 level and continued to enjoy the support as bottom boundary for 21 series of trading sessions except that 190.55 touched in the stake sale on 13th May.
Market PULSE check by Stock-O-Meter: The Following scrips covered in my previous
posting: The high, low, closings of 14-05-09:
Nifty 3631.90 3537.60 3593.45
ICICIBANK 540.00 519.00 536.25
RIL 1927.50 1880.20 1908.95
REL infra 818.40 765.30 809.60
Relcap 574.80 541.20 568.80
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
Thursday, May 14, 2009
The election effect…..
The results of the exit polls, predicting a neck to neck fight for the power between the two with third option not ruled out put selling pressure in the late evening with basket sell-off in Indian equities. The US markets also sold off last night made the Asian markets to open lower. The Nifty is likely to open below or at the verge of support at 3570 level and the opening trades shall not force it trade below 3540 level which attracts more selling.
The Nifty now has resistance at 3581-88 level and weak further below 3540 level will get support at 3492 level with minor support at 3514 level.
The RIL has resistance at 1938-42 level has support at 1869 level and the second is below crucial 1850-40 level to travel further down.
The ICICI was weak below 539-41 level likely to test 490 level in this fall but for today it will again test 520 level and 511 level.
The other stocks are in the earlier suggested levels. The India Bulls Reality will fall with a high side cap at 146 to touch a level of 133 and at 129.0 but the HDIL is in strong bull hands so long it trades above 162-64 level.
Market PULSE check by Stock-O-Meter: The Following scrips covered in my yesterday posting: The high, low, closings of 13-05-09:
Nifty 3709.60 3610.20 3635.25
ICICIBANK 574.70 541.60 551.15
RIL 1975 1906.0 1933.
REL infra 825 773.60 798.0
Relcap 592.4 556.55 571.90
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
The Nifty now has resistance at 3581-88 level and weak further below 3540 level will get support at 3492 level with minor support at 3514 level.
The RIL has resistance at 1938-42 level has support at 1869 level and the second is below crucial 1850-40 level to travel further down.
The ICICI was weak below 539-41 level likely to test 490 level in this fall but for today it will again test 520 level and 511 level.
The other stocks are in the earlier suggested levels. The India Bulls Reality will fall with a high side cap at 146 to touch a level of 133 and at 129.0 but the HDIL is in strong bull hands so long it trades above 162-64 level.
Market PULSE check by Stock-O-Meter: The Following scrips covered in my yesterday posting: The high, low, closings of 13-05-09:
Nifty 3709.60 3610.20 3635.25
ICICIBANK 574.70 541.60 551.15
RIL 1975 1906.0 1933.
REL infra 825 773.60 798.0
Relcap 592.4 556.55 571.90
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
Wednesday, May 13, 2009
Buying and buying……
The markets witnessed un-precedent up move beyond expectations. The markets sensed the possible hassle free govt. formation at the centre and the foreign investments are now unabated. The stocks have become dirt cheap for them and the growth story is intact despite the poor IIP numbers contracted by 2.3% but the silver lining is that the power generation up by 6.3% and mining up by 0.4%. They are not deterred by the short-term month on month contracted numbers but focusing on overall long-term opportunity stored in as POTENTIAL.
The Asian markets are flat with negative bias. The US closed slightly in green but the NASDAQ was down by 1%. The Tata Steel plans to restructure the loan by prepayment; plans to raise 3000 crore through NCDs and plans for efficient use of Corus capacities in these turbulent times, layoffs could cross 10,000. The independent auditors will look into the books of telecos.
The RIL will repay nearly 15000 crores surplus cash flow due to the merger of RPL can save huge amount on interest. DLF wants to sell 10%, plans o raise 3850 crores through QIP route.
The Nifty is in Bull grip with yesterday move so long it trades above 3573-71 level. The immediate support for today’s trade is at 3640 level but the up side resistance is also close at 3720 level again at 3736-41 level. So a more consolidation moves on the cards.
The RIL is strong above 1894 but the resistance at 1963 and at 1981. The bull move has the potential to take it to 2040 to 2057 level.
The Rel infra has resistance at 803-06 level and become weak below 77169 level. The ICICI has resistance at 559-61 level and the second one at 576 level and the support exists at 542-44 level. The Relcap may test 583-86 level but become weak below 548 level.
The Asian markets are flat with negative bias. The US closed slightly in green but the NASDAQ was down by 1%. The Tata Steel plans to restructure the loan by prepayment; plans to raise 3000 crore through NCDs and plans for efficient use of Corus capacities in these turbulent times, layoffs could cross 10,000. The independent auditors will look into the books of telecos.
The RIL will repay nearly 15000 crores surplus cash flow due to the merger of RPL can save huge amount on interest. DLF wants to sell 10%, plans o raise 3850 crores through QIP route.
The Nifty is in Bull grip with yesterday move so long it trades above 3573-71 level. The immediate support for today’s trade is at 3640 level but the up side resistance is also close at 3720 level again at 3736-41 level. So a more consolidation moves on the cards.
The RIL is strong above 1894 but the resistance at 1963 and at 1981. The bull move has the potential to take it to 2040 to 2057 level.
The Rel infra has resistance at 803-06 level and become weak below 77169 level. The ICICI has resistance at 559-61 level and the second one at 576 level and the support exists at 542-44 level. The Relcap may test 583-86 level but become weak below 548 level.
Tuesday, May 12, 2009
The unwinding pressure……..
The markets took the heat of selling pressure from the Bears as well as from the Bull unwinding in the afternoon kept the indices low but the beauty part of the yester day trade was that Nifty did not collapse despite of such sustained selling. The market absorbed comfortable the selling pressure.
The notable gainers of big name are – Tulip IT and Nucleus software, AuroPharma, JindalSAW, Havells…etc. The reality sector and the metals were worst hit.
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my yesterday posting: The high, low, closings of 11-05-09:
Nifty 3660.2 3534.55 3554.60
ICICIBANK 547.75 513 523.35
RIL 1928 1850.1 1861.60
REL infra 792.90 746.55 763.0
DLF 244.80 226.10 228.1
T.Steel 288.80 267.20 270.65
SAIL 127.15 118.20 120.15
JP ASSOCIAT 144.70 133.30 135.50
Relcap 595 540.8 546.50
ONGC 903.80 872.50 879.7
HUL 236.50 226 227.15
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
The notable gainers of big name are – Tulip IT and Nucleus software, AuroPharma, JindalSAW, Havells…etc. The reality sector and the metals were worst hit.
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my yesterday posting: The high, low, closings of 11-05-09:
Nifty 3660.2 3534.55 3554.60
ICICIBANK 547.75 513 523.35
RIL 1928 1850.1 1861.60
REL infra 792.90 746.55 763.0
DLF 244.80 226.10 228.1
T.Steel 288.80 267.20 270.65
SAIL 127.15 118.20 120.15
JP ASSOCIAT 144.70 133.30 135.50
Relcap 595 540.8 546.50
ONGC 903.80 872.50 879.7
HUL 236.50 226 227.15
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
Monday, May 11, 2009
The crucial band……?
The counting begins this week itself even the last leg of voting is in progress. The markets will see the gyrations widely as the days running close the counting and announcement of the results. The positive news from the overseas markets could only prop up our markets but the challenge ahead of the week will be the big event of “forming the power centre with number portability” form political parties of smaller size. Now small is beautiful here for…?
The Asian market is mixed but the US performed well above 2% gains. The SGX Nifty suggesting a positive opening of 1% gains to our markets. The Nifty is close to the crucial point at 3650-60 level. The NIFTY is unlikely to hold above the 3680 level.
The Nifty is facing resistance at 3654-58 level and the support can be expected at 3571-73 and at 3541-39 level for this day.
The RIL is in the previous suggested levels. The SBI results are good despite a lower growth in the NIM but the concern for Bhat is to manage the unprecedented growth in the deposits as the Pvt. Sector bank failures in the west prompted the depositors to choose the PSU mammoth.
The SBI is good above 1375 and weak below 1347. The support exists at 1256-58 level but today it is likely to stay above 1296 level and may cross and close above the 1350 mark. In case it stays above 1350 the scrip has the potential to cross 1475 and then 1507.
The ICICI is likely to get support from SBI mood to cross the 536 mark but face resistance at 544 level.
The Relcap is good above 594 and weak below 573.
The Tata steel corus impact can be seen today. The inventory loss due to order cancellation by the consortium and the revival of the unit, fate of the employees will impact. Technically the scrip is Bull grip but the sudden developments impose pressure on the up move. So the counter may face resistance at 288 and the support is at 209-11 level once the 264 support is broken decisively.
The Govt. plans to ask ONGC to fill the loss of the OMCs may pressure this counter though the crude is ruling high above 58 dollars per barrel. So ONGC unlikely to stay above 900 mark due to this developments, even it stays not good to buy, but has good bottom support at 845-48 level and a series of reasonable supports.
The HUL bogged down by the private labels and more in future may place the stock at 202 and 194 level in future.
The Asian market is mixed but the US performed well above 2% gains. The SGX Nifty suggesting a positive opening of 1% gains to our markets. The Nifty is close to the crucial point at 3650-60 level. The NIFTY is unlikely to hold above the 3680 level.
The Nifty is facing resistance at 3654-58 level and the support can be expected at 3571-73 and at 3541-39 level for this day.
The RIL is in the previous suggested levels. The SBI results are good despite a lower growth in the NIM but the concern for Bhat is to manage the unprecedented growth in the deposits as the Pvt. Sector bank failures in the west prompted the depositors to choose the PSU mammoth.
The SBI is good above 1375 and weak below 1347. The support exists at 1256-58 level but today it is likely to stay above 1296 level and may cross and close above the 1350 mark. In case it stays above 1350 the scrip has the potential to cross 1475 and then 1507.
The ICICI is likely to get support from SBI mood to cross the 536 mark but face resistance at 544 level.
The Relcap is good above 594 and weak below 573.
The Tata steel corus impact can be seen today. The inventory loss due to order cancellation by the consortium and the revival of the unit, fate of the employees will impact. Technically the scrip is Bull grip but the sudden developments impose pressure on the up move. So the counter may face resistance at 288 and the support is at 209-11 level once the 264 support is broken decisively.
The Govt. plans to ask ONGC to fill the loss of the OMCs may pressure this counter though the crude is ruling high above 58 dollars per barrel. So ONGC unlikely to stay above 900 mark due to this developments, even it stays not good to buy, but has good bottom support at 845-48 level and a series of reasonable supports.
The HUL bogged down by the private labels and more in future may place the stock at 202 and 194 level in future.
Sunday, May 10, 2009
The pre-election rally ended..?
The strong consolidation of 3 weeks at 3332-82, Nifty took a leap to 3482 then jumped to a level of 3650 range. Nifty even touched an intraday high at 3717 level before closing the week at 3621 level. The noon-stop 9 positive weekly closing right from 6th march to day placed Nifty from 2609 to 3620 level.
The retail investors, DII and MFs who are very much cradled by the swings of 200-250 points either side at 2700. They presumed that the FII ran out of money and wanting more from the emerging markets, shorting the market at every rise and things like that kept them a side by waiting for the turn to “auspicious jump” has never happed till date but the stocks rose more than 100% from their distressed lows.
Now many started asking for a deep correction so that they can buy and hold for this kind of a rally like situation from where they can make an exit, even that won’t happen in near future. When everybody wanted to replicate the known model then how can any body “demand” for a premium?. It is as simple as that- “Not every body can afford every time to build a PALACE by each construction or even grave yards be dug every where”.
The retail investors, DII and MFs who are very much cradled by the swings of 200-250 points either side at 2700. They presumed that the FII ran out of money and wanting more from the emerging markets, shorting the market at every rise and things like that kept them a side by waiting for the turn to “auspicious jump” has never happed till date but the stocks rose more than 100% from their distressed lows.
Now many started asking for a deep correction so that they can buy and hold for this kind of a rally like situation from where they can make an exit, even that won’t happen in near future. When everybody wanted to replicate the known model then how can any body “demand” for a premium?. It is as simple as that- “Not every body can afford every time to build a PALACE by each construction or even grave yards be dug every where”.
Friday, May 08, 2009
the correction for consolidation...?
The heated markets over the week could end with tepid note with llow volumes. The stellar performance from the metal space took a beating due to profit booking from the retail investors. The Nifty has still above the support levels despite of this 64 points fall.
The shipping companies and plantation companies are in the lime light where as the software companies felt the heat.
The shipping companies and plantation companies are in the lime light where as the software companies felt the heat.
Market PULSE check by Stock-O-Meter:
Nifty 3711.25 3582.85 3620.70
ICICIBANK 550.9 515.15 520.75
RIL 1932 1875 1900.30
REL infra 817 756.35 768.65
DLF 525 235.65 240.65
T.Steel 302.85 280.15 282.40
SAIL 129.80 121.80 125
JP ASSOCIAT 144.35 134 142.10
I may be right or wrong, You may like it or not but “No argument with the ticker-NEVER”
Metallic rise….
The markets rose on stellar performance from the metal space. The stocks rallied between 7 – 15% despite the steep valuation and losses of previous quarters but on the hope of demand and price correction upwards and support from anti dumping duty from GOI.
The FIIs continued to support the markets even at higher valuations. The markets are hovering around 3655 level +_ 35 points. The Nifty is weak below the crucial level suggested to get support at 3571 and lower at 3560 level.
The RIL is strong above 1880 level and weak below 1860 level to touch the 1790-60 level or even lower. The SBI is in a band of 1320-1375 level a head of results scheduled for tomorrow. The ICIC is weak below 549-51 level to touch the 503-496 level. Today it may get support at 523 and at lower levels at 518-16 level.
The Rel infra for the last 5 trading sessions in the bull grip facing resistance at 820-25 level will become weak below 803 to touch the support at 778-73 level.
The DLF engulfed in IT suit weak below 244 to touch 233-31 level and become very weak below 226 level. The JP is correcting lower levels may touch 126 level in future has very good support at 118-114 level from where the Bulls support is assured.
The heated metal may take some time to settle but the Tata steel likely to touch 336-341 level in future.
The FIIs continued to support the markets even at higher valuations. The markets are hovering around 3655 level +_ 35 points. The Nifty is weak below the crucial level suggested to get support at 3571 and lower at 3560 level.
The RIL is strong above 1880 level and weak below 1860 level to touch the 1790-60 level or even lower. The SBI is in a band of 1320-1375 level a head of results scheduled for tomorrow. The ICIC is weak below 549-51 level to touch the 503-496 level. Today it may get support at 523 and at lower levels at 518-16 level.
The Rel infra for the last 5 trading sessions in the bull grip facing resistance at 820-25 level will become weak below 803 to touch the support at 778-73 level.
The DLF engulfed in IT suit weak below 244 to touch 233-31 level and become very weak below 226 level. The JP is correcting lower levels may touch 126 level in future has very good support at 118-114 level from where the Bulls support is assured.
The heated metal may take some time to settle but the Tata steel likely to touch 336-341 level in future.
Wednesday, May 06, 2009
The FIIs pour dollars………..
The Obama administration has single point agenda to change the rules of the game to favour Protectionism from free trade. The US was reduced in its thinking to save their lots from competition. The world was rally has reached a stage from where the stock returns can be in a range. The markets in India have continued to rally at the Index level now spread to Mid & small caps. The today fall is more a correction at the large cap level than a down turn. The fall from higher level very much confined to the big ticker names be it DLF, ICICI, Relcap, HDFC, Kotak, JP associates, Tata steel, IVRCL, Indian Bank, IDFC, IDBI and other like sugar stocks.
The phenomenal rise witnessed in the mid caps like Havells ( 36%), Tulip (25%), KesoramInd and other smaller power companies. The Tata Power and R power showed their resilience to meet the on slaughter.
The Monday rise was tepid interms of volumes but the percentage of rise is good. A critical study shows that the Monday rise did not help at least 70 companies to close above the closings made on 20th April when the Nifty closed at 3371. The most under performer is the ROLTA, SKUMAR, Gitanjali gems, Bank of India, ABB, Aban and many more. On the other hand the best out performers are Mind tree, Wipro, ICICI bank, TVS motors, Pantloon and others continued rise more than 25%
The Nifty rose more than 8% from the comparison date 20th April 09. The Bank Nifty rose 9% and CNXIT rose by 15%. The heavy weight like Infosy rose by nearly 13% where as Reliance rose by 10%, Rel Infra rose by 15% and Grasim by 13%. The prominent name that are under performing are ESSAROIL,IOB,ZEEL,INDIANB,ROLTA,BOSCHLTD,BPCL,THERMAX,MARUTI
MCDOWELL-N,BANKINDIA,DIVISLAB,ASIANPAINT,ABB,ABAN,EDUCOMP,
The BEST OUT PERFORMERS BY PERCENTAGE:
HAVELLS 39.611
MINDTREE 36.212
BAJAJHIND 34.762
WIPRO 31.692
LICHSGFIN 31.397
TULIP 31.357
PENINAND 30.612
KESORAMIND 28.037
PANTALOONR 27.615
TVSMOTOR 27.103
ICICIBANK 26.583
HDIL 25.589
SUZLON 24.596
IDFC 21.862
VOLTAS 20.668
The phenomenal rise witnessed in the mid caps like Havells ( 36%), Tulip (25%), KesoramInd and other smaller power companies. The Tata Power and R power showed their resilience to meet the on slaughter.
The Monday rise was tepid interms of volumes but the percentage of rise is good. A critical study shows that the Monday rise did not help at least 70 companies to close above the closings made on 20th April when the Nifty closed at 3371. The most under performer is the ROLTA, SKUMAR, Gitanjali gems, Bank of India, ABB, Aban and many more. On the other hand the best out performers are Mind tree, Wipro, ICICI bank, TVS motors, Pantloon and others continued rise more than 25%
The Nifty rose more than 8% from the comparison date 20th April 09. The Bank Nifty rose 9% and CNXIT rose by 15%. The heavy weight like Infosy rose by nearly 13% where as Reliance rose by 10%, Rel Infra rose by 15% and Grasim by 13%. The prominent name that are under performing are ESSAROIL,IOB,ZEEL,INDIANB,ROLTA,BOSCHLTD,BPCL,THERMAX,MARUTI
MCDOWELL-N,BANKINDIA,DIVISLAB,ASIANPAINT,ABB,ABAN,EDUCOMP,
The BEST OUT PERFORMERS BY PERCENTAGE:
HAVELLS 39.611
MINDTREE 36.212
BAJAJHIND 34.762
WIPRO 31.692
LICHSGFIN 31.397
TULIP 31.357
PENINAND 30.612
KESORAMIND 28.037
PANTALOONR 27.615
TVSMOTOR 27.103
ICICIBANK 26.583
HDIL 25.589
SUZLON 24.596
IDFC 21.862
VOLTAS 20.668
Monday, May 04, 2009
The shoot out strength………
The yearly high of Nifty was at 5167.40 and the low was at 2252.75 and now today Nifty closed at 3654.0. So the non stop rise from March 6th covered a distance of 1401 points. So technically the markets are at cross roads irrespective of their Bullishness or Bearish market short covering. The rise points to low are at 0.622 and the yearly high to closing was at 1513 and the ratio stands at 0.293. The SENSEX is also displaying the same trend, the SENSEX yearly high was at 17,735.70 and the low was at 7697.3 and today the SENSEX closed at 12,134.75. The rise from low works at 4437 and the distance it has to travel 5600 points to cross the yearly high.
The markets have not yet received the ONGC and steel sector results which may disappoint. The rally is getting threat from the terrorist mails.
The SEBI is working closely to find out the insider trading in RPL by Reliance may curb the inner momentum strength as the new flow started for the Bears now.
The markets have not yet received the ONGC and steel sector results which may disappoint. The rally is getting threat from the terrorist mails.
The SEBI is working closely to find out the insider trading in RPL by Reliance may curb the inner momentum strength as the new flow started for the Bears now.
Thursday, April 30, 2009
SUSTAINED GROWTH……
The markets exhibited sustained growth without any volatile situations that normally seen on expiry day but a sustained buying at every point was exhibited. The investors across the globe providing support to stock prices as they look cheap when compared to the history highs registered.
A serious redflag caution is advised as the P/E ratio at 16.53, the forward earnings likely to deteriorate will increase it to above 20 even at the current prices. So the retail investors can wait for a substantial fall to buy the blue chips as our economy likely to contract due to lack of demand for our produts on overseas and the huge expansions initiated two to three years back now put pressure on the internal demand as the suppply is likely to exceed.
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my previous posting:
The high, low, closings of 29-04-08:
Nifty 3486.40 3366.70 3473.95
ICICIBANK 484.50 444 479.20
RIL 1820 1745.85 1806.25
REL infra 699.25 670 695.20
Rel Cap 527.80 497.80 524.50
T.Steel 243.60 229.50 238.10
SAIL 111.85 107.30 109.20
BHARTI 758 714 752.75
ONGC 870 833.55 864.75
LT 889 852 879.35
I may be right or wrong-“No argument with the ticker-NEVER”
A serious redflag caution is advised as the P/E ratio at 16.53, the forward earnings likely to deteriorate will increase it to above 20 even at the current prices. So the retail investors can wait for a substantial fall to buy the blue chips as our economy likely to contract due to lack of demand for our produts on overseas and the huge expansions initiated two to three years back now put pressure on the internal demand as the suppply is likely to exceed.
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my previous posting:
The high, low, closings of 29-04-08:
Nifty 3486.40 3366.70 3473.95
ICICIBANK 484.50 444 479.20
RIL 1820 1745.85 1806.25
REL infra 699.25 670 695.20
Rel Cap 527.80 497.80 524.50
T.Steel 243.60 229.50 238.10
SAIL 111.85 107.30 109.20
BHARTI 758 714 752.75
ONGC 870 833.55 864.75
LT 889 852 879.35
I may be right or wrong-“No argument with the ticker-NEVER”
Wednesday, April 29, 2009
The April series………..
The market roll over for may series is low due to the domestic events and due to the negative global news flows. The series may end with volatility but the markets may see some bounce back in the early trade as suggested by the SGX Nifty index.
The markets are at the verge of support as the major index heavy weights are trading below or just above the support levels in RIL, ONGC, Bharti, NTPC, ITC and HUL. On the positive side the LT, Infosys, Wipro, SBI, ICICI and HDFC bank are in Bull grip.
The Nifty as suggested in my earlier postings took support at 3350 level and this will gain strength when it trades above 3420 level. The intermediate range between 3280 and 3420 level is a consolidation range.
The earlier suggested levels hold good for RIL and ICICI. The Relcap and RelInfra lost much ground as expected and suggested. Now rel cap will be under bear pressure but can bounce to 525 level. It is very weak below 513-15 level. The Rel infra can also see a bounce back up to 693 level as suggested earlier.
The ONGC is weak below 829 and gains strength above 866-69 level. The Bharti is good above 735 can go upto 790 leve when it trades above 756-59 mild resistance level. It will become weak when the results disappoints the street may well go below support level at 686-88 level.
The LT is in Bull grip good above 896-902 level may touch 938 and 947 levels. The Sail is good still it is above 106 but likely to touch 90-93 level once it breaches due to the negative sector news. But today it will hold above 100-102 level.
The markets are at the verge of support as the major index heavy weights are trading below or just above the support levels in RIL, ONGC, Bharti, NTPC, ITC and HUL. On the positive side the LT, Infosys, Wipro, SBI, ICICI and HDFC bank are in Bull grip.
The Nifty as suggested in my earlier postings took support at 3350 level and this will gain strength when it trades above 3420 level. The intermediate range between 3280 and 3420 level is a consolidation range.
The earlier suggested levels hold good for RIL and ICICI. The Relcap and RelInfra lost much ground as expected and suggested. Now rel cap will be under bear pressure but can bounce to 525 level. It is very weak below 513-15 level. The Rel infra can also see a bounce back up to 693 level as suggested earlier.
The ONGC is weak below 829 and gains strength above 866-69 level. The Bharti is good above 735 can go upto 790 leve when it trades above 756-59 mild resistance level. It will become weak when the results disappoints the street may well go below support level at 686-88 level.
The LT is in Bull grip good above 896-902 level may touch 938 and 947 levels. The Sail is good still it is above 106 but likely to touch 90-93 level once it breaches due to the negative sector news. But today it will hold above 100-102 level.
Tuesday, April 28, 2009
SWINE FLU CATCH......
The markets could have little support to hold above the 3450 level due to global melt down and due to the Expiry on Wednesday. The Infras felt the heat and the banking bowed to the bear pressure.
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my previous posting:
The high, low, closings of 28-04-08:
Nifty 3471.95 3351.50 3362.35
ICICIBANK 470 433.05 439.05
RIL 1792 1731 1737.15
REL infra 723.90 654 661.55
Rel Cap 544.70 487.75 492.80
T.steel 257.4 232 234.35
SAIL 113.40 106.50 107.60
BHARTI 749.9 713 724.35
The high, low, closings of 27-04-08(Yesterday):
Nifty 3517.25 3435.30 3470.
ICICIBANK 477.95 411.10 467.55
RIL 1807 1761 1785.55
REL infra 1751.50 701.35 1710.85
Rel Cap 568 526.30 532.05
T.Steel 268.50 251.05 253.75
SAIL 115.70 110.10 111.90
BHARTI 756.40 730.20 743.65
I may be right or wrong-“No argument with the ticker-NEVER”
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my previous posting:
The high, low, closings of 28-04-08:
Nifty 3471.95 3351.50 3362.35
ICICIBANK 470 433.05 439.05
RIL 1792 1731 1737.15
REL infra 723.90 654 661.55
Rel Cap 544.70 487.75 492.80
T.steel 257.4 232 234.35
SAIL 113.40 106.50 107.60
BHARTI 749.9 713 724.35
The high, low, closings of 27-04-08(Yesterday):
Nifty 3517.25 3435.30 3470.
ICICIBANK 477.95 411.10 467.55
RIL 1807 1761 1785.55
REL infra 1751.50 701.35 1710.85
Rel Cap 568 526.30 532.05
T.Steel 268.50 251.05 253.75
SAIL 115.70 110.10 111.90
BHARTI 756.40 730.20 743.65
I may be right or wrong-“No argument with the ticker-NEVER”
Monday, April 27, 2009
STRESSED…..
The order of the day now opening with stressed accounts and the amount related will hit the head lines as the markets are likely to witness the results and reveals from the Indian banking sector. The aggressive private sector bank ICICi has announced its numbers far below than the street expectations. The NII and the NIM are both are positive but the provisions are huge that resulting a drop of more than 35% in net profits. The stock which faced resistance at 439 level may become weak below 430, the bears run as the stock falls below 415…, 403….and the earlier supports at 495-90 may not hold as the support is expected first at 378-81 level and at 357-53 level. The stock is technically in Bulls grip. The Bulls lighten their positions in the counter when it trades below 321 level and the Bears take advantage below 315 levels.
The Asian markets are mixed and the SGX nifty suggests 40 points loss with negative bias. The Nifty is in Bull grip so long it trades above 4221-23 level, major support is at 4361-63 level but the resistance is expected at 3509-3524 level. The markets may get support at 3350 level as the upward momentum was in place. As the markets has risen in the last two trading sessions, the fall in prices still keel them in bulls grip.
The RIL could cross the immediate resistance at 1735-39 level and touched a high of 1802. Today it may face resistance at 1809-11 but gains upward momentum above 1821 level. The stock will become weak only it trades below 1693 level.
The Rel infra will face resistance at 1751-54 level and the support is expected at 684-86 level. The stock is in Bull grip above 719-21 level.
The Relcap has potential to go to 579-81 level so long it trades above 542-39 level. The stock will get support at 523 level.
The T.steel has recovered from a low of 240 level to 270 level may see some correction so is the other metals. The Sail will get Bulls support above 116.50.
The Bharti is good above 726 level but may face resistance at 767-71 level. The RCOM is good above 226 level but the support at 218-19 level and will become weak below 215 level.
The SWINE FLU is threatening to kill more as it spreads but the medicines are available.
The crucial results to be announced on Monday are from Aban, Bank Baroda, Indian bank, Oriental bank, United spirits, Tech Mahindra castrol, Areva, Bartronics, Exide Ind, and Vimta labs.
The Asian markets are mixed and the SGX nifty suggests 40 points loss with negative bias. The Nifty is in Bull grip so long it trades above 4221-23 level, major support is at 4361-63 level but the resistance is expected at 3509-3524 level. The markets may get support at 3350 level as the upward momentum was in place. As the markets has risen in the last two trading sessions, the fall in prices still keel them in bulls grip.
The RIL could cross the immediate resistance at 1735-39 level and touched a high of 1802. Today it may face resistance at 1809-11 but gains upward momentum above 1821 level. The stock will become weak only it trades below 1693 level.
The Rel infra will face resistance at 1751-54 level and the support is expected at 684-86 level. The stock is in Bull grip above 719-21 level.
The Relcap has potential to go to 579-81 level so long it trades above 542-39 level. The stock will get support at 523 level.
The T.steel has recovered from a low of 240 level to 270 level may see some correction so is the other metals. The Sail will get Bulls support above 116.50.
The Bharti is good above 726 level but may face resistance at 767-71 level. The RCOM is good above 226 level but the support at 218-19 level and will become weak below 215 level.
The SWINE FLU is threatening to kill more as it spreads but the medicines are available.
The crucial results to be announced on Monday are from Aban, Bank Baroda, Indian bank, Oriental bank, United spirits, Tech Mahindra castrol, Areva, Bartronics, Exide Ind, and Vimta labs.
Saturday, April 25, 2009
“Conspiracy”
“Conspiracy”-be it on Anil or by Saimira. The ADAG group alleges that the ill-eyed, dark hearted people jealous of the group’s progress plans to kill him. The Citi sleeps are not but the CEO Pandit lost his sleep on the plans of removal from the top post. The SEBI came out with a stringent action against the peopled involved in price manupulation by forged letters of open offer by the promoters, broker and the media persons involved in Saimira episode.
The govt. expects 40 billion dollar FDI and the growth rate above 7-8% will be visible in the second half. The Results of Cipla are good to digest where the Ranbaxy swallowed a bitter pill and hard to digest as the losses are mounting quarter on quarter. The surprise was the decline in profits of Maruti and it expects the future is not rosy.
The Major results today are from ICICI bank, Balrampur chinni, Triveni engg, Petronet Lng and other smaller companies. The Sunday poised for software company results- Mind tree, Nucleus soft and R-system to announce their results.
The govt. expects 40 billion dollar FDI and the growth rate above 7-8% will be visible in the second half. The Results of Cipla are good to digest where the Ranbaxy swallowed a bitter pill and hard to digest as the losses are mounting quarter on quarter. The surprise was the decline in profits of Maruti and it expects the future is not rosy.
The Major results today are from ICICI bank, Balrampur chinni, Triveni engg, Petronet Lng and other smaller companies. The Sunday poised for software company results- Mind tree, Nucleus soft and R-system to announce their results.
Market PULSE check by Stock-O-Meter:
The Following scrips covered in my morning posting:
Nifty 3491.35 3402.90 3480.75
ICICIBANK 439.40 415.10 434.10
RIL 1802.00 1727.00 1788.85
REL infra 747.00 703.40 740.50
Rel Cap 563.00 530.35 557.65
I may be right or wrong-"No argument with the ticker- NEVER".
Friday, April 24, 2009
The crucial support…..
The markets took support to bounce back from the day’s lows to close at day’s high is a clear bullish sign. The results of RIL and other major companies results shall be discounted at current levels is debatable. The internal demand for infra structure, construction and related activities were grossly stalled for want of Govt direction and the 3-G auction and other related policy decisions were put on hold will see light after the new budget. The list can be enlarged but the fact is that they store potential for sustained growth by meeting the internal demand.
The RIL results are not good on the face of it as the other income has increased considerably to 993 cr and the purchase of traded goods has increased from 590cr to 5807cr during this year. The other income and profit from exceptional items has contributed 1363 cr nearly 25% of the profits from operations. The future out look is bright due to KG basin oil & gas may hold the price and the RPL merger may add value but the upside is definitely capped for a quarter at least. The stock has very good support at 1530 level. Any dip below this is a buying opportunity as the support at 1330 level may not breach under present conditions.
The Rel Infra results are good under these difficult times. The R Power news flow is good as many projects are in pipe line, RNRL results are good. The HDFC bank results are good but it says that the NPAs may increase due to the economic slow down is a cause of concern.
The inflation was at 0.26% when compared to the last week gave good signs of relief to the RBI as it plans to induce more money into the system to spur the demand as the estimates of growth was pegged at 6% much below the regularly suggested levels of 8%-few months later7.5%- few weeks later it was at 7% and now the latest figure.
For today the Nifty has to trade above 3381 level to continue the up trend. The street reaction on RIL results hold key. The yesterday levels are for RIL, Rel Infra. As such there no serious change in the levels as they were discussed earlier. The ICICI has to face resistance at 442-39 level but the support exists at 415 level. The Relcap may face resistance at 549-51 level.
Today BEL, CIPLA,IDBI, Ranbaxy, Maruti will announce their numbers.
The RIL results are not good on the face of it as the other income has increased considerably to 993 cr and the purchase of traded goods has increased from 590cr to 5807cr during this year. The other income and profit from exceptional items has contributed 1363 cr nearly 25% of the profits from operations. The future out look is bright due to KG basin oil & gas may hold the price and the RPL merger may add value but the upside is definitely capped for a quarter at least. The stock has very good support at 1530 level. Any dip below this is a buying opportunity as the support at 1330 level may not breach under present conditions.
The Rel Infra results are good under these difficult times. The R Power news flow is good as many projects are in pipe line, RNRL results are good. The HDFC bank results are good but it says that the NPAs may increase due to the economic slow down is a cause of concern.
The inflation was at 0.26% when compared to the last week gave good signs of relief to the RBI as it plans to induce more money into the system to spur the demand as the estimates of growth was pegged at 6% much below the regularly suggested levels of 8%-few months later7.5%- few weeks later it was at 7% and now the latest figure.
For today the Nifty has to trade above 3381 level to continue the up trend. The street reaction on RIL results hold key. The yesterday levels are for RIL, Rel Infra. As such there no serious change in the levels as they were discussed earlier. The ICICI has to face resistance at 442-39 level but the support exists at 415 level. The Relcap may face resistance at 549-51 level.
Today BEL, CIPLA,IDBI, Ranbaxy, Maruti will announce their numbers.
Market PULSE check by Stock-O-Meter: The Following scrips covered in my morning posting:
Nifty 3439.90 3310.5 3423.70
ICICIBANK 431.60 395.10 424.40
RIL 1774.90 1696 1763.70
REL infra 716.65 662.10 712.35
Rel Cap 535.60 496.05 531.80
DLF 240.7 222.40 238.05
HDIL 147.25 124.15 144.85
HDFCBANK 1100 1065.40 1092.50
T.STEEL 266.35 238.65 262.85
SAIL 116.40 106.50 115.10
I may be right or wrong-“No argument with the ticker-NEVER”
The crucial support…..
The markets took support to bounce back from the day’s lows to close at day’s high is a clear bullish sign. The results of RIL and other major companies results shall be discounted at current levels is debatable. The internal demand for infra structure, construction and related activities were grossly stalled for want of Govt direction and the 3-G auction and other related policy decisions were put on hold will see light after the new budget. The list can be enlarged but the fact is that they store potential for sustained growth by meeting the internal demand.
The RIL results are not good on the face of it as the other income has increased considerably to 993 cr and the purchase of traded goods has increased from 590cr to 5807cr during this year. The other income and profit from exceptional items has contributed 1363 cr nearly 25% of the profits from operations. The future out look is bright due to KG basin oil & gas may hold the price and the RPL merger may add value but the upside is definitely capped for a quarter at least. The stock has very good support at 1530 level. Any dip below this is a buying opportunity as the support at 1330 level may not breach under present conditions.
The Rel Infra results are good under these difficult times. The R Power news flow is good as many projects are in pipe line, RNRL results are good. The HDFC bank results are good but it says that the NPAs may increase due to the economic slow down is a cause of concern.
The inflation was at 0.26% when compared to the last week gave good signs of relief to the RBI as it plans to induce more money into the system to spur the demand as the estimates of growth was pegged at 6% much below the regularly suggested levels of 8%-few months later7.5%- few weeks later it was at 7% and now the latest figure.
For today the Nifty has to trade above 3381 level to continue the up trend. The street reaction on RIL results hold key. The yesterday levels are for RIL, Rel Infra. As such there no serious change in the levels as they were discussed earlier. The ICICI has to face resistance at 442-39 level but the support exists at 415 level. The Relcap may face resistance at 549-51 level.
The RIL results are not good on the face of it as the other income has increased considerably to 993 cr and the purchase of traded goods has increased from 590cr to 5807cr during this year. The other income and profit from exceptional items has contributed 1363 cr nearly 25% of the profits from operations. The future out look is bright due to KG basin oil & gas may hold the price and the RPL merger may add value but the upside is definitely capped for a quarter at least. The stock has very good support at 1530 level. Any dip below this is a buying opportunity as the support at 1330 level may not breach under present conditions.
The Rel Infra results are good under these difficult times. The R Power news flow is good as many projects are in pipe line, RNRL results are good. The HDFC bank results are good but it says that the NPAs may increase due to the economic slow down is a cause of concern.
The inflation was at 0.26% when compared to the last week gave good signs of relief to the RBI as it plans to induce more money into the system to spur the demand as the estimates of growth was pegged at 6% much below the regularly suggested levels of 8%-few months later7.5%- few weeks later it was at 7% and now the latest figure.
For today the Nifty has to trade above 3381 level to continue the up trend. The street reaction on RIL results hold key. The yesterday levels are for RIL, Rel Infra. As such there no serious change in the levels as they were discussed earlier. The ICICI has to face resistance at 442-39 level but the support exists at 415 level. The Relcap may face resistance at 549-51 level.
Today BEL, CIPLA,IDBI, Ranbaxy, Maruti will announce their numbers.
The Performance of yesterday :
Nifty 3439.90 3310.5 3423.70
ICICIBANK
431.60 395.10 424.40
RIL 1774.90 1696 1763.70
REL infra 716.65 662.10
712.35
Rel Cap 535.60 496.05 531.80
DLF 240.7 222.40 238.05
HDIL 147.25
124.15 144.85
HDFCBANK 1100 1065.40 1092.50
T.STEEL 266.35 238.65
262.85
SAIL 116.40 106.50 115.10
Thursday, April 23, 2009
The Big boy announces…
The India’s top market cap leader, index mover Reliance is going to announces is quarterly results. The markets are waiting for the RIL results and the Nifty may swing in tune with the scrip.
The top notable companies that are going to announce the results are RPL, RNRL, Rel infra, Rpower, HDFC bank, LIC housing, SKF, Idea Zee news and many more…
The Nifty is good above 3381 and weak below 3356 level. The RIL results influence the market trend. The Nifty become weak if it trades below 3320 level will likely to touch 3265 and next at 3229-31 level. The second support level will provide reasonable bounce from 3211-18 level to Nifty.
The RIL is good above 1735 and weak below 1715 may get support at1684 level, once it falls below 1665 will get support at 1615-30 range.
The banking major SBI and ICICI are facing Bear heat. The SBI is weak and good support is at 1180-65 level. The ICICI may get support from 376-79 level. This will gain strength only when it crosses the immediate resistance at 416-18.
The Relcap is exhibiting good support at 500 level and will gain strength above 521 level and weak below 511-13 level. It has bounced from the support at 491 level when it touched 495 low now holding above 500. In case it falls below 495 then the support at 472-467 level.
The HDFC bank is facing resistance at 1100 level and the support at 1040 level. The critical juncture is at 1085-1067 range.Please watch out for break-out in SAIL, RCOM, United Spirits.The reality sector major is getting support at 225 level and the HDIL at 124 level.
The top notable companies that are going to announce the results are RPL, RNRL, Rel infra, Rpower, HDFC bank, LIC housing, SKF, Idea Zee news and many more…
The Nifty is good above 3381 and weak below 3356 level. The RIL results influence the market trend. The Nifty become weak if it trades below 3320 level will likely to touch 3265 and next at 3229-31 level. The second support level will provide reasonable bounce from 3211-18 level to Nifty.
The RIL is good above 1735 and weak below 1715 may get support at1684 level, once it falls below 1665 will get support at 1615-30 range.
The banking major SBI and ICICI are facing Bear heat. The SBI is weak and good support is at 1180-65 level. The ICICI may get support from 376-79 level. This will gain strength only when it crosses the immediate resistance at 416-18.
The Relcap is exhibiting good support at 500 level and will gain strength above 521 level and weak below 511-13 level. It has bounced from the support at 491 level when it touched 495 low now holding above 500. In case it falls below 495 then the support at 472-467 level.
The HDFC bank is facing resistance at 1100 level and the support at 1040 level. The critical juncture is at 1085-1067 range.Please watch out for break-out in SAIL, RCOM, United Spirits.The reality sector major is getting support at 225 level and the HDIL at 124 level.
Wednesday, April 22, 2009
The cut is developing…..
The Nifty is carrying loads of wait on long side despite of global corrections; it could keep the head above deep waters for a better sailing. The major news that dampened the sentiment is the exclusion list of 50 companies from the FO segment from June-09.
In the todays trade the tech majors did not see a deep cut but the HCL tech, NIIT, NIIT Ltd and Rolta lost the ground by10% and more. The mid cap reality sector stocks, media and software stocks that face the threat of exclusion lost nearly 10%.The metals corrected steeply, especially Tata Steel and Ster. The major up moves seen in the smaller names but the Tata Elexi, Bajaj Holdings, LIC housing, Suzlon and Wockpharma deserve worth mentioning.
The up move was capped at this juncture unless the markets get good going tomorrow above 3415-18 level. The Reliance is saving the fall, weak below 1715 level and is good above 1735 but a rally is not visible. The new in RPOWER triggered a rally in the stock but its parent company REL infra made a consolidation but it well rally only if it could stay above 693 levels. The banking stocks in anticipation of the rate cut rallied now easing on the news and may correct steeply if the SBI fails to hold above 1256 level. So tomorrow is crucial for our markets and the global news holds the key.
In the todays trade the tech majors did not see a deep cut but the HCL tech, NIIT, NIIT Ltd and Rolta lost the ground by10% and more. The mid cap reality sector stocks, media and software stocks that face the threat of exclusion lost nearly 10%.The metals corrected steeply, especially Tata Steel and Ster. The major up moves seen in the smaller names but the Tata Elexi, Bajaj Holdings, LIC housing, Suzlon and Wockpharma deserve worth mentioning.
The up move was capped at this juncture unless the markets get good going tomorrow above 3415-18 level. The Reliance is saving the fall, weak below 1715 level and is good above 1735 but a rally is not visible. The new in RPOWER triggered a rally in the stock but its parent company REL infra made a consolidation but it well rally only if it could stay above 693 levels. The banking stocks in anticipation of the rate cut rallied now easing on the news and may correct steeply if the SBI fails to hold above 1256 level. So tomorrow is crucial for our markets and the global news holds the key.
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