Support & Resistances for 01-07-2009

Support & Resistances for 01-07-2009
 
    SENSEX NIFTY FUTURE (July2009)
    BANKNIFTY NIFTY
30-06-2009 Open  14830.97 4391.50 7540.00 4440.00
High 14907.48 4426.75 7560.00 4440.00
Low 14420.41 4267.35 7275.00 4260.60
Close 14493.84 4291.10 7311.30 4289.75
LTP 14539.60 4305.85 7341.00 4302.25
Range 487.07 159.40 285.00 179.40
01-07-2009 R3 15581.38 4647.20 7952.10 4688.92
R2 15094.31 4487.80 7667.10 4509.52
R1 14794.08 4389.45 7489.20 4399.63
PP 14607.24 4328.40 7382.10 4330.12
S1 14307.01 4230.05 7204.20 4220.23
S2 14120.17 4169.00 7097.10 4150.72
S3 13633.10 4009.60 6812.10 3971.32
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Headline (30 June 2009)

Date: 30 June 2009

Thought for the day

“Anytime you see someone more successful than you are, they are doing something that you’re not.”

— Malcolm X

GENERAL

1)Southwest monsoon on Monday covered entire Madhya Pradesh,  Gujarat, Chhattisgarh, Bihar, Jharkhand and many parts of East Uttar  Pradesh bringing relief to millions of people reeling under intense  heat for the past few days.

Indian Express

ECONOMY

2)THE chairman of PM’s Economic Advisory Council, Suresh Tendulkar, said on Monday the economy would expand by at least 7% during the  current fiscal provided the monsoon does not fail.  He ruled out the  need for pressing the panic button at the moment.

FE

CORPORATE / INDUSTRY

3)Engineering major Larsen & Toubro today said it had bagged six  orders worth Rs 1,230 crore from different vendors.  “The orders would be executed by Electrical & Gulf Projects Operating Company, a part of L&T’s Construction Division,” L&T said in a filing to the BSE.

BS

4)SERIAL entrepreneur Ramesh Vangal’s Kerala Ayurveda is set to  merge with a more illustrious and bigger peer Arya Vaidya Pharmacy  (AVP), creating the world’s largest ayurveda entity, and one of the  largest wellness firms in this part of the world.  A mega consolidation in the wellness domain was set off after the boards of KAL  and the privately-held AVP signed an initial agreement to explore  options to combine their businesses.

ET

MONEY & BANKING

5)Financial services provider Karvy has decided to focus on fast  growing and vastly untapped private wealth management business  by launching a new entity Karvy Private Wealth, a top official said
  on Monday.  The new company would focus on advising and managing wealth of High Networth Individuals(HNIs) and the super  rich.

FE

6)The rupee was flat on Monday in a range-bound market.  The domestic currency opened at 48.06 and strengthened to touch an intra-day high of 47.95.  It weakened to touch an intra-day low
  of 48.26, before closing at 48.10, unchanged from the previous close.

BL

7)UCO Bank may exercise the option of raising Rs 500-600 crore  worth capital through follow-on public offer by the third quarter of 2009-10, according to its Chairman and Managing Director,
  Mr S K Goel.

BL

MARKETS

8)Indian equity closed Monday with marginal gains after witnessing  huge volatility throughout the trading session.  The 30-share Sensex  of Bombay Stock Exchange(BSE) added 21.10 points or 0.14% to end the day at 14,785.74 points. The broader S&P CNX Nifty of National Stock Exchange(NSE) was up by 15.45 points or 0.35% to close  the day at 4,390.95 points.  Dealers in the market said huge selling  was seen in the IT stocks as investor ahead of budget continued to book profit.

FE

9)The lull in the corporate bond market seen in the first quarter  of this fiscal is expected to change after the Budget.  Bankers  and market participants expect more corporate bond issuances
  from the second quarter, given the Government thrust on the infrastructure sector and the likely tax sops.

BL

IPO

10)Mahindra Holidays & Resorts India Ltd(MHRIL), a part of Mahindra  Group has set Rs 300 each as the initial public offer(IPO) price for its 92.65 lakh equity shares.  The issue that opened June 23
  and closed June 26 was subscribed 9.8 times as per the company.

FE

11)SHRIRAM Properties, part of the Chennai-headquartered diversified  Shriram Group, has appointed Macquarie and Enam Financial Consultants as advisors in a proposed Rs 500-700 crore initial public offering(IPO).  This could be one of the first realty companies to tap the  tepid IPO market after Emmar MGF withdrew its public issue in February last year in the face of adverse market conditions.

ET

MUTUAL FUNDS

12)EQUITY mutual funds are handing out dividends to investors like  never before.  Fund houses like Franklin Templeton, SBI Mutual,  HDFC MF, Reliance MF, Tata MF and UTI have announced dividends  in the range of 20 to 60% in their bid to encourage investors retain money in existing schemes.

ET

CORPORATE SCORE

13)CORPORATE hospital group Apollo has reported a net profit of Rs  118 crore(including an extraordinary item of Rs 4 crore) for the  year ended March 31,2009, up by 15.6% from Rs 102 crore in the
  previous year.  During the period, it clocked a turnover of Rs  1,458 crore(Rs 1,125 crore).

ET

COMMODITIES

14)Gold rose to $942 an ounce on Monday, clinging to recent rises in  choppy trade as the dollar cut earlier gains with renewed caution  toward riskier assets also proving supportive.  Gold was at $941.90  an ounce at 1059 GMT, up from $938.05 quoted late in New York on   Friday.

BL

15)THE revival of the monsoon pulled down prices of agri commodities  on the commodity exchanges on Monday.  Most of the commodities, including the edible oils complex, spices, wheat and guarseed traded in the red as sentiment for better crop acreage and production gained  ground following favourable climatic conditions.

ET

REAL ESTATE

16)Notwithstanding the concerns over the proposed international air  port in Navi Mumbai, real estate prices around the satellite city  have rising for the past one month. During the past 30 days, prices
  of medium residential apartments rose by Rs 300-500 per square feet  across various nodes in the city.  The present prices range at Rs  2,500-3,000 per square foot across nodes like Kamothe, Panvel,
  Kharghar, Khandeshwar and CDB Belapur, said Srikanth Puduval,  a real estate agent.

BS

INFORMATION TECHNOLOGY

17)TOP outsourcing customers such as Bank of America and several  local governments in the US are asking vendors such as TCS, In fosys and Wipro to deliver more projects locally.  They are also
  rescinding job offers to foreign workers in an attempt to address  anti-offshoring sentiments and cope with legislative requirements  of the Troubled Assets Relief Program(TARP).Bank of America and
  other financial services organisations who have received funds under TARP need to ensure that they try and employ local American  workers before hiring a foreign worker from companies such as TCS,
  Infosys and Wipro.  During the past few months, at least five new  outsourcing contracts had new clauses, which mandated that certain work be delivered onshore.

ET

18)EVEN as protectionism gains ground among political hardliners  in the UK and US, UK-based Lloyds Bank has initiated the process of replacing most its British IT workers with Indian nationals.
  Many of the Indian recruits will be from top-rung Indian IT majors  such as Wipro and TCS, who are also the bank’s vendors, said  two industry officials familiar with the development.

ET

19)COMPETITION to woo recession-hit clients across the world is  forcing IT biggies to reduce their client billing rates, sometimes  as high as 35-40%, though most are still managing to control any
  sharp declines in their topline.  In certain projects, the billing rates  are down to $16 an hour, which, analysts say are the lowest ever  rates. And such rates will continue atleast till Q1 next year, they add.  “We have seen such sustained decrease in pricing in most projects.  I expect this to last until the year end at least,” says Siddhartha Pai, partner and MD, TPI, a global outsourcing advisory firm.

ET

INTERNATIONAL

20)Crude oil and gasoline rose after an attack by Nigerian militants  shut a field operated by Royal Dutch Shell Plc, cutting output  from Africa’s largest producer.  Crude oil for August delivery
  advanced $1.51, or 2.2 per cent, to $70.67 a barrel at 10:02 a.m  on the New York Mercantile Exchange.

BL

21)EUROPEAN confidence in the economic outlook rose more than  economists forecast in June, adding to signs that record low interest rates and stimulus measures are helping to pull the region
  out of a recession.  An index of executive and consumer sentiment  in the 16 nations that use the euro increased to 73.3, the highest  since November, from a revised 70.2 in May, the European Com-
  mission in Brussels said today.  Economists had forecast an increase to 71 from an initially reported 69.3 in May, according to the median of 24 estimates in a Bloomberg News survey.

FE

FOR MORE INFORMATION, PLEASE BROWSE THROUGH THE FOLLOWING SITES.

Karvy Consultants Ltd       www.karvy.com
                            www.khojhyderabad.com
                            www.indiacorporateadvisor.com
                            www.karvycomtrade.com (Commodities)
KARVY Global Services Ltd   www.KARVYGlobal.com
KARVY Realty (India) Limited www.karvyrealty.com
Economic Times              www.economictimes.com
The Financial Express       www.financialexpress.com
Business Line               www.businessline.in
Business Standard           www.business-standard.com
The Times of India          www.timesofindia.com
The Hindu                   www.hindu.com
Deccan Chronicle            www.deccan.com
The New Indian Express      www.newindpress.com

Trading Tip (30 June 2009)

(Previous Close: Sensex 14786: Nifty 4391)

Today’s Levels

Trade long if Sensex sustains above 14786 (Nifty 4391)

[Upper targets/resistances at 14955(4439)/15000(4450) or higher]

Trade short if Sensex fails to sustain above 14955 (Nifty 4439)

[Lower targets/supports at 14786(4391)/14685(4351) or lower]

Pivot Point (30 June 2009)

Pivot Point       30 June 2009
SCRIP LTP S2 S1 Pivot Point R1 R2
SENSEX 14785.74 14538.81 14662.28 14808.91 14932.28 15079.01
NIFTY 4390.95 4304.88 4347.92 4393.93 4436.97 4482.98
A.C.C. 792.90 765.70 779.30 795.60 809.20 825.50
ABB LTD. 808.10 756.03 782.07 808.03 834.07 860.03
AMBUJACEM 90.80 87.23 89.02 90.88 92.67 94.53
AXISBANK 867.55 780.12 823.83 861.92 905.63 943.72
BHARAT PETRO 426.75 417.35 422.05 429.00 433.70 440.65
BHARTIARTL 807.25 790.32 798.78 808.62 817.08 826.92
BHEL 2240.00 2161.10 2200.55 2237.45 2276.90 2313.80
CAIRN 234.15 226.52 230.33 235.07 238.88 243.62
CIPLA 262.80 254.67 258.73 261.62 265.68 268.57
DLF 338.35 318.45 328.40 336.95 346.90 355.45
GAIL 290.10 277.90 284.00 288.50 294.60 299.10
GRASIM IND. 2315.05 2241.52 2278.28 2327.77 2364.53 2414.02
HCL TECHNOLO 191.70 184.30 188.00 192.30 196.00 200.30
HDFC BANK 1507.80 1470.00 1488.90 1510.90 1529.80 1551.80
HERO HONDA 1383.90 1348.77 1366.33 1395.67 1413.23 1442.57
HINDALCO 87.85 84.42 86.13 87.72 89.43 91.02
HINDUNILVR 266.60 258.73 262.67 266.18 270.12 273.63
HOUS DEV FIN 2373.20 2298.33 2335.77 2391.88 2429.32 2485.43
ICICI BANK 748.70 722.10 735.40 754.05 767.35 786.00
IDEA 77.50 75.17 76.33 78.32 79.48 81.47
INFOSYS TECH 1782.95 1575.65 1679.30 1874.65 1978.30 2173.65
ITC 193.70 190.00 191.85 194.85 196.70 199.70
LT EQ 1621.80 1549.60 1585.70 1617.35 1653.45 1685.10
MAH & MAH 704.35 686.65 695.50 703.25 712.10 719.85
MARUTI 1067.90 1020.57 1044.23 1062.02 1085.68 1103.47
NATION ALUMI 312.85 297.62 305.23 312.12 319.73 326.62
NTPC 197.30 192.90 195.10 197.30 199.50 201.70
ONGC CORP. 1065.95 1013.38 1039.67 1065.28 1091.57 1117.18
PNB 680.05 640.08 660.07 674.98 694.97 709.88
POWERGRID 111.45 108.45 109.95 112.00 113.50 115.55
RANBAXY LAB. 258.85 250.45 254.65 259.20 263.40 267.95
RCOM 307.10 297.03 302.07 310.03 315.07 323.03
REL.CAPITAL 959.50 920.57 940.03 963.52 982.98 1006.47
RELIANCE 2087.00 1960.07 2023.53 2068.22 2131.68 2176.37
RELINFRA 1268.40 1225.53 1246.97 1273.43 1294.87 1321.33
RPL 129.80 123.20 126.50 128.95 132.25 134.70
RPOWER 174.15 169.75 171.95 175.40 177.60 181.05
SIEMENS 497.60 480.20 488.90 499.20 507.90 518.20
STATE BANK 1765.15 1715.78 1740.47 1760.23 1784.92 1804.68
STEEL AUTHOR 157.85 147.32 152.58 156.97 162.23 166.62
STER EQ 645.70 594.83 620.27 644.13 669.57 693.43
SUN PHARMA. 1100.20 1042.87 1071.53 1110.77 1139.43 1178.67
SUZLON 117.10 106.83 111.97 117.98 123.12 129.13
TATA POWER 1151.00 1121.10 1136.05 1150.50 1165.45 1179.90
TATACOMM 475.70 457.43 466.57 474.23 483.37 491.03
TATAMOTORSEQ 313.90 294.03 303.97 321.98 331.92 349.93
TATASTEEL 397.75 372.98 385.37 394.88 407.27 416.78
TCS EQ 386.20 371.87 379.03 390.52 397.68 409.17
UNITECH LTD 85.30 80.87 83.08 85.02 87.23 89.17
WIPRO 379.20 371.80 375.50 380.25 383.95 388.70

Trading Tip (30 June 2009)

FOR THE DAY: The indices are expected to open on a positive note backed by positive moves in the US markets while, the Asian indices are trading on a positive note.

Trade long in the Nifty if it holds above 4400 levels else if 4360 levels hold with a stop loss placed at 4340 levels.

Nifty has a crucial support placed at 4360 levels which if breached below; short positions may be assumed for day trading, speculative shorts may also be taken if Nifty fails to sustain above 4450 levels targeting lower supports.

Changes to market Lot for September 2009 contracts & onwards

Changes to market Lot for September 2009 contracts & onwards
Download Lot size 
Symbol Market Lot   Symbol Market Lot   Symbol Market Lot   Symbol Market Lot
BANKNIFTY 50   CUMMINSIND 950   ISPATIND 12450   RELIANCE 150
CNX100 100   DABUR 2700   ITC 1125   RELINFRA 276
CNXIT 100   DCHL 3400   IVRCLINFRA 1000   RENUKA 2500
JUNIOR 100   DENABANK 5250   JINDALSAW 1000   RNRL 3576
NFTYMCAP50 300   DISHTV 5150   JINDALSTEL 160   ROLTA 1800
NIFTY 50   DIVISLAB 310   JPASSOCIAT 1125   RPL 1675
MINIFTY 20   DLF 800   JPHYDRO 3125   RPOWER 2000
DEFTY 150   DRREDDY 400   JSWSTEEL 1650   SAIL 1350
      EDUCOMP 75   KFA 4250   SBIN 132
Symbol Market Lot EKC 2000   KOTAKBANK 550   SCI 2400
ABAN 400   ESSAROIL 1412   KSOILS 5900   SESAGOA 1500
ABB 500   FEDERALBNK 851   LICHSGFIN 425   SIEMENS 752
ABIRLANUVO 400   FINANTECH 150   LITL 2550   SINTEX 1400
ACC 376   FSL 9500   LT 200   STER 438
ADLABSFILM 900   GAIL 1125   LUPIN 350   STERLINBIO 1250
ALBK 2450   GESHIP 1200   M&M 312   SUNPHARMA 225
AMBUJACEM 4124   GLAXO 300   MARUTI 200   SUNTV 1000
ANDHRABANK 2300   GMRINFRA 1250   MCDOWELL-N 250   SUZLON 3000
APIL 600   GRASIM 176   MLL 4900   SYNDIBANK 3800
ASHOKLEY 9550   GSPL 6100   MOSERBAER 2475   TATACHEM 1350
ASIANPAINT 200   GTL 750   MPHASIS 800   TATACOMM 525
AUROPHARMA 700   GTLINFRA 4850   MRPL 4450   TATAMOTORS 850
AXISBANK 450   GTOFFSHORE 1000   MTNL 3200   TATAPOWER 200
BAJAJ-AUTO 200   GVKPIL 4750   NAGARCONST 2000   TATASTEEL 764
BAJAJHIND 1425   HCC 2100   NAGARFERT 5250   TATATEA 550
BAJAJHLDNG 1000   HCLTECH 1300   NATIONALUM 575   TCS 1000
BALRAMCHIN 2400   HDFC 150   NEYVELILIG 1475   TECHM 600
BANKBARODA 700   HDFCBANK 200   NOIDATOLL 8200   TITAN 206
BANKINDIA 950   HDIL 774   NTPC 1625   TRIVENI 3850
BEL 276   HEROHONDA 200   OFSS 300   TTML 10450
BEML 375   HINDALCO 3518   ONGC 225   TULIP 500
BHARATFORG 2000   HINDPETRO 650   OPTOCIRCUI 2040   TV-18 1700
BHARTIARTL 250   HINDUNILVR 1000   ORCHIDCHEM 2100   UCOBANK 5000
BHEL 150   HINDZINC 500   ORIENTBANK 1200   ULTRACEMCO 400
BHUSANSTL 500   HOTELEELA 7500   PANTALOONR 850   UNIONBANK 1050
BIOCON 1800   IBREALEST 1300   PATELENG 1000   UNIPHOS 1400
BOSCHLTD 100   ICICIBANK 350   PATNI 1300   UNITECH 4500
BPCL 550   ICSA 1200   PETRONET 4400   VIJAYABANK 6900
BRFL 1150   IDBI 2400   PFC 1200   VOLTAS 2700
CAIRN 1250   IDEA 2700   PIRHEALTH 1500   WELGUJ 1600
CANBK 800   IDFC 2950   PNB 300   WIPRO 600
CENTURYTEX 848   IFCI 7880   POLARIS 2800   YESBANK 2200
CESC 1100   INDHOTEL 3798   POWERGRID 1925   ZEEL 1400
CHAMBLFERT 3450   INDIACEM 1450   PRAJIND 2200   Source: NSEIndia.com
CHENNPETRO 1800   INDIAINFO 2500   PTC 2350   (29/06/2009)
CIPLA 1250   INDIANB 2200   PUNJLLOYD 1500    
COLPAL 550   INDUSINDBK 3850   RANBAXY 800    
CONCOR 250   INFOSYSTCH 200   RCOM 700    
CORPBANK 1200   IOB 2950   RECLTD 1950    
CROMPGREAV 1000   IOC 600   RELCAPITAL 276  

Trading for the comming week

FOR THE COMING WEEK:

Indices are likely to face resistance at the 15050‐15200‐15500/4480‐4550 levels.

Any declines in the indices may see fresh buying creeping around the indicated supports.

Downside supports are placed at the 14500‐14200/4300‐4200‐4050 levels.

Depending on the global cues we expect to see fresh buying around the weekly supports and the trades could be influenced by strong moves sectorally.

Any move until the above mentioned resistances shall be utilized to exit from long positions and look out for a sustainable move.

However, looking at the broader scenario we advise investors to play the broad range movement with caution and strict stop losses.

STOCKS FOR THE WEEK: ICICI Bank, Axis Bank, SBIN, Infosys, LT and ACC. These stocks may be observed for long side participation from current levels as well as lower supports. Short positions may be taken in ONGC, Tata Steel, Nalco and M&M from higher levels of the Nifty.