Support & Resistances for 30-06-2009

Support & Resistances for 30-06-2009
 
    SENSEX NIFTY FUTURE (July2009)
    BANKNIFTY NIFTY
29-06-2009 Open  14825.90 4375.40 7417.30 4391.25
High 14955.55 4439.95 7623.50 4447.00
Low 14685.45 4350.90 7362.40 4346.00
Close 14785.74 4390.95 7504.50 4390.00
LTP 14772.86 4386.90 7490.00 4389.00
Range 270.10 89.05 261.10 101.00
30-06-2009 R3 15349.11 4572.03 8019.00 4596.33
R2 15079.01 4482.98 7757.90 4495.33
R1 14932.38 4436.97 7631.20 4442.67
PP 14808.91 4393.93 7496.80 4394.33
S1 14662.28 4347.92 7370.10 4341.67
S2 14538.81 4304.88 7235.70 4293.33
S3 14268.71 4215.83 6974.60 4192.33
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Pivot Point (29 June 2009)

Pivot Point Pragmatic 29-Jun-09
SCRIP LTP S2 S1 Pivot Point R1 R2
SENSEX 14764.64 14231.68 14498.16 14640.05 14906.53 15048.42
NIFTY 4375.50 4194.60 4285.05 4334.40 4424.85 4474.20
A.C.C. 799.10 761.10 780.10 791.55 810.55 822.00
ABB LTD. 789.35 741.12 765.23 780.12 804.23 819.12
AMBUJACEM 91.75 84.98 88.37 90.38 93.77 95.78
AXISBANK 818.05 764.68 791.37 806.68 833.37 848.68
BHARAT PETRO 421.35 405.32 413.33 418.67 426.68 432.02
BHARTIARTL 810.10 786.43 798.27 806.83 818.67 827.23
BHEL 2203.75 2116.58 2160.17 2187.58 2231.17 2258.58
CAIRN 234.10 217.77 225.93 231.17 239.33 244.57
CIPLA 261.55 245.45 253.50 258.75 266.80 272.05
DLF 325.70 302.50 314.10 329.25 340.85 356.00
GAIL 284.35 272.95 278.65 283.20 288.90 293.45
GRASIM IND. 2372.35 2300.12 2336.23 2360.12 2396.23 2420.12
HCL TECHNOLO 191.80 181.63 186.72 190.33 195.42 199.03
HDFC BANK 1498.30 1459.97 1479.13 1490.17 1509.33 1520.37
HERO HONDA 1406.20 1375.53 1390.87 1410.33 1425.67 1445.13
HINDALCO 86.70 83.37 85.03 86.67 88.33 89.97
HINDUNILVR 266.05 253.48 259.77 263.88 270.17 274.28
HOUS DEV FIN 2435.15 2289.52 2362.33 2405.17 2477.98 2520.82
ICICI BANK 756.15 688.72 722.43 741.22 774.93 793.72
IDEA 79.50 76.67 78.08 79.72 81.13 82.77
INFOSYS TECH 1827.10 1722.37 1774.73 1807.37 1859.73 1892.37
ITC 196.70 188.70 192.70 195.35 199.35 202.00
LT EQ 1610.40 1511.33 1560.87 1589.78 1639.32 1668.23
MAH & MAH 698.10 669.77 683.93 699.17 713.33 728.57
MARUTI 1059.25 1001.45 1030.35 1047.00 1075.90 1092.55
NATION ALUMI 308.00 300.10 304.05 308.95 312.90 317.80
NTPC EQ 194.95 189.32 192.13 195.52 198.33 201.72
ONGC CORP. 1044.60 988.87 1016.73 1035.37 1063.23 1081.87
PNB 655.20 601.33 628.27 647.63 674.57 693.93
POWERGRID 110.85 104.02 107.43 109.47 112.88 114.92
RANBAXY 255.10 238.70 246.90 261.75 269.95 284.80
RCOM 312.35 299.18 305.77 310.08 316.67 320.98
REL.CAPITAL 938.90 891.63 915.27 929.63 953.27 967.63
RELIANCE 2029.20 1935.67 1982.43 2009.72 2056.48 2083.77
RELINFRA 1264.50 1200.63 1232.57 1252.18 1284.12 1303.73
RPL 126.10 112.17 119.13 129.07 136.03 145.97
RPOWER 173.60 167.27 170.43 172.62 175.78 177.97
SIEMENS 498.35 462.18 480.27 491.08 509.17 519.98
STATE BANK 1749.25 1663.75 1706.50 1732.75 1775.50 1801.75
STEEL AUTHOR 151.60 146.00 148.80 151.25 154.05 156.50
STER EQ 613.75 568.82 591.28 604.12 626.58 639.42
SUN PHARMA. 1141.15 926.68 1033.92 1157.23 1264.47 1387.78
SUZLON 123.50 115.50 119.50 122.00 126.00 128.50
TATA POWER 1163.35 1134.45 1148.90 1164.45 1178.90 1194.45
TATACOMM 473.05 447.22 460.13 473.42 486.33 499.62
TATAMOTORSEQ 340.25 321.95 331.10 337.75 346.90 353.55
TATASTEEL 388.55 367.58 378.07 390.53 401.02 413.48
TCS EQ 397.40 364.93 381.17 392.78 409.02 420.63
UNITECH LTD 82.25 80.08 81.17 82.73 83.82 85.38
WIPRO 384.30 368.77 376.53 381.77 389.53 394.77

Headlines (29 June 2009)

Date: 29 June 2009

Thought for the day

“We must remember that the same level of thinking that brought us to where we are today will not take us where we want to go tomorrow.” 

— Anthony Robbins

GENERAL

1)Indian natural stone exporters have mounted a concerted drive to win a share of the booming Russian market of granite and marble. Fifteen Indian companies displayed a variety of stone products
 and processing technologies at the 10th international Expostone 2009 held in Moscow on June 23-27. The first big-time Indian participation in the annual Russian stone show offered a welcome contrast to the depressing indifference of Indian business towards Russia.

Hindu

ECONOMY

2)ALLAYING fears that low rainfall in June and forecast of ‘below normal’ monsoon season could impact agriculture production in the country, food and agriculture minister Sharad Pawar on Sunday said Kharif sowing in most states was delayed by just a week and there was no drought-like situation anywhere. He also added the country has adequate stocks of wheat, rice and sugar to meet any exigency.

FE

CORPORATE / INDUSTRY

3)Legendary British automotive brands Jaguar and Land Rover officially hit Indian shores, home to owner Tata Motors, today. The Indian launch follows sliding global demand for the luxury brands thanks to the global economic meltdown. Both brands will launch three models each from an exclusive company-owned showroom in Worli, Mumbai. A senior Land Rover executive said the company has started bookings.

BS

4)Eastern Gases Ltd, a BSE-listed company, plans to invest Rs 200 crore in the next two years for setting up a 100 auto LPG dispensing outlets in eastern and western India. The Kolkata-based firm,
 which imports and supplies bulk LPG, propane and butane to industries, will also set up two LPG manufacturing-cum-bottling plants in Rajasthan and Andhra Pradesh.

BS

MONEY & BANKING

5)State Bank of India’s disbursements on home loans under its ‘New happy home loan scheme’ have grown at Rs 1,500 crore monthly. This is about Rs 400 crore more than the monthly average of Rs 1,100 crore it did in the first two months since the scheme was announced.

BL

6)Financial institution IFCI is keen to enter the banking sector and is waiting for an opportunity to take the plunge. “We are obviously well poised (to enter banking sector). We are a 60-year old organisation. We do have capital to take this call,”the IFCI Managing Director and Chief Executive Officer, Mr Atul Kumar Rai, told PTI.

BL

MARKETS

7)INDIAN equity markets, which closed with some smart gains on Friday, might continue it upward rally in the markets ahead of crucial presentation of Union Budget 2009, on July 6. Apart from that, domestic markets are likely to track global cues for the direction in the coming week. Dealers in the markets also added that, investors will be also looking at the annual economic survey which will be presented on July 2, a day ahead of the Rail Budget on July 3. Despite witnessing huge volatility last week domestic markets closed the day above the dotted line. On Friday, last trading day of previous week, the 30-share Sensex of BSE added 419.02 points or 2.92% to close the day at 14,764.64 points. The broader S&P CNX Nifty of National Stock Exchange(NSE) was up by 133.65 points or 3.15% to end the day at 4,375.50 points.

FE

8)Indian stocks have emerged as the best performers among those in the emerging and the developed markets across the globe so far this year,giving investors the highest return of nearly 60 per cent. According to an analysis of MSCI Barra indices, a measure of returns from various stock markets across the world for foreign investors, Indian stocks have outperformed their global peers, in-
 cluding in the US, the UK and China in 2009.

BL

9)LONGER trading hours may become the norm for stock market intermediaries sooner than later. Capital markets regulator Sebi is learnt to be thinking of increasing stock exchange trading hours
 so that market participants in India are better placed to react to the developments in global markets. If the proposal is approved, the equity market will be open for trading from 9:00 am to 5:00 pm.

ET

 COMMODITIES

 10)Gold prices are likely to touch fresh high in the second half of the current year on the back of investment demand and over-the-counter market, global metals consultant GFMS said in a report.
 “Looking at the second half of 2009, investment demand, and especially its western elements, which includes activity in ETFs, futures and the OTC market, is expected to remain the driving force behind gold price movements,” GFMS executive chairman Philip Klapwijk said in the report.

FE

11)AGRICULTURE futures on major commodities showed a mixed trend this week following the progress of the southwest monsoon,crucial for growth and production of many kharif sown crops. While refined soy-oil, cardamom, chana and potato futures rose over fears that a below normal monsoon in 2009 could limit their output, futures prices of cotton seed and mentha oil dropped.

FE

12)The pepper market in general has been sluggish during the week as the buyers were on a wait-and-watch mode. Because of moderately higher prices at almost all the origins and the economic slowdown in major buying countries on the other, activities were limited.

BL

 REAL ESTATE

13)IN a countdown to the forthcoming Union Budget, the Confederation of Real Estate Developers Association of India(CREDAI), the second biggest industry in India and the apex body of the organised real estate developers/builders in India with over 4,000 members, has , in a pre-budget memorandum, put forth twin themes affordable housing and slum redevelopment-to fuel the largest
 common Indian dream of owning a house.

FE

14)CONRAD Hotels & Resorts, the luxury arm of Hilton Hotels Corporation, is entering India through a deal with South-based realty major Mantri Developers. A definitive agreement to manage a 250-key luxury hotel in Bangalore was signed between the two partners last week, said a source familiar with the development.

ET

COMMUNICATIONS

15)JP Morgan, BNP Paribas, HSBC and Barclays are in talks with Bharti Airtel to fund part of the $4 billion needed by the Indian telco to complete its $23 billion merger with MTN, Africa’s largest mobile phone operator. The banks are discussing their term sheets with the officials of India’s largest mobile phone company, bankers privy to the development said. The four foreign banks are offering to fund $500 million each.

ET

 INFORMATION TECHNOLOGY

16)THE Unique Identification Authority of India(UID), to be headed by Infosys co-founder Nandan Nilekani, is the first in a series of such transformation projects being evaluated by India, as the government plans to spend up to Rs 40,000 crore over next few years on Information Technology(IT).

ET

17)Driven by customer demand, Indian IT firms such as TCS, Infosys, and Patni are enhancing their ‘near-shore’ delivery capabilities in Latin America. This would also help them explore the emerging
 markets in the region. Last week, TCS opened its seventh Latam delivery centre at Queretaro, Mexico, where Patni Computers also chose to locate its first centre that was launched on Monday.

BL

INTERNATIONAL

18)THE Dubai developer behind the world’s tallest building plans to merge with three rivals owned by the sheikhdom’s ruler, in a consolidation aimed at better coping with a global meltdown fuelled weakness in the one-time Arab boomtown’s real estate sector. In a statement posted on Sunday on the Dubai Financial Market’s website, Emaar Properties PJSC said its proposed merger with Dubai
 Holdings subsidiaries Dubai Properties, Samar Dubai and Tatweer would create a company with an asset base of 194 billion dirhams ($52.8 billion) and a debt of 13.4 billion dirhams, or roughly 7% of the total assets. “The proposed consolidation would create a robust and strategic asset base while joining the strengths” of the various companies, Emaar said.

ET

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

Support & Resistances for 29-06-2009

Support & Resistances for 29-06-2009
 
    SENSEX NIFTY FUTURE (July2009)
    BANKNIFTY NIFTY
26-06-2009 Open  14373.57 4243.95 7188.90 4299.00
High 14781.94 4383.75 7422.00 4392.10
Low 14373.57 4243.95 7145.50 4252.15
Close 14764.64 4375.50 7399.50 4384.50
LTP 14764.64 4375.50 7410.00 4384.00
Range 408.37 139.80 276.50 139.95
29-06-2009 R3 15456.79 4614.00 7875.33 4622.82
R2 15048.42 4474.20 7598.83 4482.87
R1 14906.53 4424.85 7499.17 4433.68
PP 14640.05 4334.40 7322.33 4342.92
S1 14498.16 4285.05 7222.67 4293.73
S2 14231.68 4194.60 7045.83 4202.97
S3 13823.31 4054.80 6769.33 4063.02
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Trading Tip

Previous Close : Sensex 14765 : Nifty 4376

Today’s Levels

Trade long if Sensex sustains above 14765 (Nifty 4376)

[Upper targets/resistances at 14854(4404)/14906(4425) or higher]

Trade short if Sensex fails to sustain above 14854 (Nifty 4404)

[Lower targets/supports at 14765(4376)/14558(4350) or lower]

Trading Tip (29 June 2009)

FOR THE DAY: Domestic markets are likely to open on flat note following the flattish global indices. Traders are advised to stay long above 4360 else from lower supports of 4300 levels with a final stop loss placed below the 4280 levels. Fresh speculative shorts would be advised if the Nifty fails to break past 4420 levels targeting lower supports. Investors are advised to remain cautious and play levels specific.

Headlines (26 June 2009)

Date: 26 June 2009

 Thought for the day

“The chains of habit are generally too small to be felt until they are too strong to be broken.”

 – Samuel Johnson

 GENERAL

1)India and Sri Lanka are set to energise their relations. Literally. The two neighbours will soon sign an MoU to study the feasibility of laying an undersea cable, which will be one-of-its-kind in Asia when completed, to connect their power networks. Sources said the MEA has approved the draft agreement, which is to be signed shortly.

 TOI

 ECONOMY

2)DRIVEN by higher prices of food items like pulses, cereals, milk, and fruit and vegetables, inflation rose marginally to minus 1.14% against -1.61% in the previous week. The wholesale price index stood at 11.80% during the corresponding week a year ago. The index was 234.2 points for the week ended June 13 from 236.9 in the same week a year ago. India possibly is the only major economy moving into a deflationary zone though the European region is near zero level due to recessionary pressures. However, the Reserve Bank governor D Subbarao last week had said there is no threat of deflation as food and crude oil prices are still firm and India does not suffer from demand constraints.

 ET

 CORPORATE / INDUSTRY

3)THE KK Modi Group is looking to acquire a Hong Kong-based tobacco company for an estimated $15-20 million, said a person with direct knowledge of the development. The tobacco firm being targeted is primarily into the business of cigars and caters to high-end consumers. It also has some cigarette brands in its portfolio.

ET

MONEY & BANKING

4)THE rupee ended flat on Thursday, a day after the Federal Reserves laid out a positive outlook for the American and global economy. The rupee ended at 48.60 against the dollar, four basis points weaker than Wednesday’s close. On Tuesday it had fallen to 48.90, its lowest since May 15.

ET

5)Amid industry’s demand for interest rate cuts, the Reserve Bank of India(RBI) will come out with the first quarter review of Monetary Policy on July 28. “RBI Governor D Subbarao will release the first quarter review of Monetary Policy 2009-10 on July 28,”the central bank said in a release today.

BS

6)State-owned lender, IDBI Bank, has slashed its benchmark prime lending rate(BPLR) keeping in view the current interest rate environment and decided to reduce it by 25 basis points to 12.75%,
 with effect from 1 July,2009. The reduction will apply to all the loans linked to BPLR including home loans.

FE

INSURANCE

7)UNIT linked insurance plans(Ulips), one of the hottest products in a bull run, could become more attractive for retail investors. Insurance regulator Irda is looking at a 500 basis point cut on the charges that are levied by insurance companies on Ulip investments. This will make the product more attractive by increasing the return.

ET

8)AEGON Religare Life Insurance, one of the newest entrants in the life insurance market, plans to pump in Rs 230 crore into the company during this year. The company had initially started operations
 in July last year with an initial investment of Rs 350 crore.

ET

MARKETS

9)Widespread selling in auto and some other stocks, including Reliance Industries, offset gains from short-covering on the expiry of the June derivatives contracts as shares closed lower on Thursday.The BSE Sensex, fell 0.5 per cent, or 77.11 points, to close at 14,345.62. The trade was range-bound but volatile as the index swung between 14,261.14 and 14,578.46. “The markets are going through the motions,” said Mr Arun Kejriwal, Director of KRIS Pvt Ltd. ‘The roll-overs to the next month’s contracts are low, which goes to show that people are not that gung-ho about the markets as they were earlier.” On the NSE, the 50-stock S&P CNX Nifty index fell 1.2 per cent, or 51.10 points, to 4,241.85. Participants said expectations of below-normal monsoon rains this year also weakened the market sentiment.

BL

10)SAMTEL Color shares have been steadily on the rise after the finance ministry last month slapped an anti-dumping duty on colour television picture tubes imported from Malaysia, Thailand, China and South Korea. On Thursday, the stock rose 2.2% to close at Rs 16.60, with nearly 72,000 shares changing hands on the BSE, compared with the two-week daily average volume of around 55,000
 shares.

ET

11)WEALTHY stock traders – those who missed out the post-election result rally and the handful who tasted success – are trying to ensure that they have a winning formula ready to cash in on the post-Budget swing in stock prices. These players are creating trading combinations in equity options that will help them capture extreme movements on either side.

ET

12)The NSE’s revised market lot size (downsizing) for 141 stocks in the F&O segment would take effect from Friday. Among them are Ashok Leyland, Bajaj Auto, HDIL, JP Associates, LIC Housing Fin, M&M, Maruti Suzuki, Tata Motors, Tata Chemicals, Tata Steel, Suzlon, Unitech, Wipro and YES Bank.

BL

IPO

13)ASIA’S oldest bourse Bombay Stock Exchange has revived its plans to go public. The exchange will soon file the IPO document with Sebi. According to sources, investment bank Kotak Mahindra Capital will advise the exchange in preparing the document.

ET

MUTUAL FUNDS

14)With the NSE Nifty index moving to the free float market cap from Friday, mutual funds which have index funds are rushing to realign their portfolios accordingly. The NSE had announced in March that
 the Nifty index would be calculated using the free-float method from June 26. The index weightage currently is being calculated using the constituent companies’ market caps. Free-float market capitalisation takes into consideration only those shares issued by the company that are readily available for trading in the market.

BL

15)Sahara Mutual Fund on Thursday announced the launch of its new scheme, Sahara Super 20 Fund. It is an open-ended growth scheme with the objective to provide long term capital appreciation by investing in predominantly equity and equity-related securities of around 20 potentially attractive companies selected out of the top 100 largest market capitalisation companies, at the point of investment.

FE

COMMODITIES

16)COMMODITY exchanges MCX and NCDEX have announced for the second time in as many months a special margin – an amount traders have to pay for taking long-term positions – to contain price rise in potato futures. A special margin of 20% is levied on futures contracts in potato with effect from June 27, MCX and NCDEX said in a separate circulars.

FE

17)Gold rose on Thursday, heading towards $935 per ounce as investors found support from the US Federal Reserve indicating that it was in no hurry to raise borrowing costs from ultra-low levels. Spot gold stood at $932.80 per ounce at 1102 GMT, up from $931.10 quoted late in New York on Wednesday.

BL

INFORMATION TECHNOLOGY

18)Three weeks after celebrating his 55th birthday, Infosys co-founder Nandan Nilekani will step down from the board of Infosys Technologies,of which he is co-chairman, on 9 July to take over as chairman of the Unique Identification Authority of India(UIDAI), the government’s ambitious project to provide every citizen with a unique biometric identity card. Nilekani, who was selected by Prime Minister Manmohan Singh, will hold a post equivalent to the rank of a Cabinet minister.

BS

19)Patni Computer Systems is in the midst of a major transformation exercise. Over the next 18 months, the company wants to increase its presence in certain verticals in the market and build a strong (intellectual property) IP base. The company has set a target of being among the top five IT companies in India and in this regard a business strategy review meet has been planned.

FE

INTERNATIONAL

20)Crude oil rose after militants attacked a Royal Dutch Shell Plc pipeline supplying an export terminal in Nigeria, Africas largest producer. Prices retreated from the days highs after a government
 report showed that the number of Americans filing claims for unemployment unexpectedly increased last week. Crude oil for August delivery rose 63 cents, or 0.9 per cent, to $69.30 a barrel at 9:24 a.m. on the New York Mercantile Exchange.

BL

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