Pivot Point (28-07-2009)

28-07-2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
BHARTIARTL 423.50 398.07 410.37 416.93 422.67 429.23 434.97 447.27
PNB 727.00 687.87 707.07 717.03 726.27 736.23 745.47 764.67
MARUTI 1369.90 1282.60 1326.90 1348.40 1371.20 1392.70 1415.50 1459.80
STER 652.40 617.45 635.60 644.00 653.75 662.15 671.90 690.05
LT 1500.30 1417.30 1458.50 1479.40 1499.70 1520.60 1540.90 1582.10
TCS 480.30 458.42 470.27 475.28 482.12 487.13 493.97 505.82
NTPC 214.50 205.70 209.60 212.05 213.50 215.95 217.40 221.30
SUZLON 106.40 99.30 102.60 104.50 105.90 107.80 109.20 112.50
GRASIM 2884.70 2616.90 2735.70 2810.20 2854.50 2929.00 2973.30 3092.10
AMBUJACEM 95.25 91.07 93.32 94.28 95.57 96.53 97.82 100.07
ABB 744.40 687.38 715.93 730.17 744.48 758.72 773.03 801.58
RCOM 281.90 265.30 273.30 277.60 281.30 285.60 289.30 297.30
HDFC 2356.70 2104.70 2246.50 2301.60 2388.30 2443.40 2530.10 2671.90
HEROHONDA 1681.60 1458.02 1577.67 1629.63 1697.32 1749.28 1816.97 1936.62
HINDALCO 93.10 85.82 89.67 91.38 93.52 95.23 97.37 101.22
HINDUNILVR 299.65 251.38 274.08 286.87 296.78 309.57 319.48 342.18
CAIRN 246.65 232.82 240.12 243.38 247.42 250.68 254.72 262.02
IDEA 79.95 72.98 76.78 78.37 80.58 82.17 84.38 88.18
DLF 411.40 352.97 379.57 395.48 406.17 422.08 432.77 459.37
POWERGRID 114.65 107.55 110.95 112.80 114.35 116.20 117.75 121.15
RPOWER 173.95 166.72 170.12 172.03 173.52 175.43 176.92 180.32
INFOSYSTCH 2027.90 1923.50 1973.10 2000.50 2022.70 2050.10 2072.30 2121.90
ITC 238.85 204.95 220.95 229.90 236.95 245.90 252.95 268.95
M&M 816.60 744.65 783.60 800.10 822.55 839.05 861.50 900.45
ACC 848.40 796.33 822.23 835.32 848.13 861.22 874.03 899.93
NAGARCONST 140.60 118.87 129.07 134.83 139.27 145.03 149.47 159.67
ONGC 1096.15 936.95 1022.85 1059.50 1108.75 1145.40 1194.65 1280.55
RANBAXY 274.05 229.87 255.82 264.93 281.77 290.88 307.72 333.67
RELCAPITAL 901.60 813.33 862.13 881.87 910.93 930.67 959.73 1008.53
RELIANCE 1940.65 1770.73 1859.08 1899.87 1947.43 1988.22 2035.78 2124.13
SAIL 175.50 157.07 165.37 170.43 173.67 178.73 181.97 190.27
SBIN 1711.30 1645.43 1678.43 1694.87 1711.43 1727.87 1744.43 1777.43
SIEMENS 469.80 439.45 454.80 462.30 470.15 477.65 485.50 500.85
SUNPHARMA 1242.80 1120.93 1180.93 1211.87 1240.93 1271.87 1300.93 1360.93
TATAPOWER 1241.45 1049.65 1139.35 1190.40 1229.05 1280.10 1318.75 1408.45
TATAMOTORS 374.10 310.10 341.50 357.80 372.90 389.20 404.30 435.70
TATASTEEL 458.80 416.65 435.30 447.05 453.95 465.70 472.60 491.25
UNITECH 88.00 82.32 85.17 86.58 88.02 89.43 90.87 93.72
TATACOMM 481.40 449.77 468.07 474.73 486.37 493.03 504.67 522.97
WIPRO 460.30 438.90 450.50 455.40 462.10 467.00 473.70 485.30
BHEL 2260.80 2135.10 2190.60 2225.70 2246.10 2281.20 2301.60 2357.10
GAIL 339.75 301.95 323.55 331.65 345.15 353.25 366.75 388.35
ICICIBANK 757.90 691.13 726.63 742.27 762.13 777.77 797.63 833.13
BPCL 451.90 427.42 438.57 445.23 449.72 456.38 460.87 472.02
RELINFRA 1163.70 1071.07 1117.57 1140.63 1164.07 1187.13 1210.57 1257.07
AXISBANK 938.35 784.18 853.38 895.87 922.58 965.07 991.78 1060.98
NATIONALUM 302.80 286.30 294.70 298.75 303.10 307.15 311.50 319.90
JINDALSTEL 3087.70 2860.48 2968.13 3027.92 3075.78 3135.57 3183.43 3291.08
CIPLA 283.35 265.68 274.58 278.97 283.48 287.87 292.38 301.28
HCLTECH 238.90 180.32 208.17 223.53 236.02 251.38 263.87 291.72

Support & Resistances for 28-07-2009

                        Support & Resistances for 28-07-2009
           
    SENSEX NIFTY FUTURE (July2009)
        BANKNIFTY NIFTY
27-07-2009 Open  15350.89 4601.30 7441.60 4568.65
High 15463.09 4610.00 7485.75 4596.75
Low 15228.46 4525.00 7343.40 4528.50
Close 15375.04 4576.80 7398.65 4572.30
LTP 15375.04 4576.30 7398.65 4572.30
Range 234.63 85.00 142.35 68.25
28-07-2009 R3 15824.79 4740.60 7693.97 4702.35
R2 15590.16 4655.60 7551.62 4634.10
R1 15482.60 4616.20 7475.13 4603.20
PP 15355.53 4570.60 7409.27 4565.85
S1 15247.97 4531.20 7332.78 4534.95
S2 15120.90 4485.60 7266.92 4497.60
S3 14886.27 4400.60 7124.57 4429.35
           
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Headlines (27 July 2009)

Date: 27 July 2009

GOOD MORNING

Thought for the day

“Be like a sponge when it comes to each new experience. If you want to be able to express it well, you must first be able to absorb it well.”

–Jim Rohn

GENERAL

1)With the launch of INS Arihant, the long-awaited first indigenous nuclear-powered submarine at Visakhapatnam on Sunday, India has taken a big leap forward towards developing the all-important third leg of is nuclear triad – the ability to fire nukes from the land, air and sea. The first two legs, in the shape of fighters like Mirage 2000s jury-rigged to delivery nuclear warheads and the Agni series of rail and road mobile missiles, are already in place.

TOI

ECONOMY

2)The Centre is mulling over offloading 10% stake through a public offer in hydro power company Satluj Jal Vidyut Nigam this fiscal and is hoping to raise Rs 1,200 crore. The company would offer 31 crore shares of Rs 10 face value each.

ET

3)The government’s proposal to reduce the promoters’ stake in listed firms to 75% may result in 180 firms offloading part of their shares in the market, as per a study done by merchant bankers. Leading merchant banker SMC Capital, in a research study, said there were 180 listed firms with a promoters stake of more than 75% and of these 28 are public sector units, while 152 are non-PSUs.

FE

CORPORATE / INDUSTRY

 4)The Videocon Group is charting out a fresh investment outlay for Q2 2009-10 to the tune of Rs 700 crore to grow its oil business. The group is planning to infuse Rs 100 crore this year to expand its retail business, apart from Rs 500 crore in new real estate projects over the next four years.

FE

MONEY & BANKING

5)The Reserve Bank of India (RBI) might change its bias towards softening interest rates into a more cautious outlook but is expected to keep key policy rates unchanged in the monetary policy review on Tuesday.

BS

MARKETS

6)Significant events like central bank’s monetary policy and expiry of July futures and option(F&O) in the coming week, domestic markets are likely to remain under pressure. However with encouraging quarter earnings of several companies and continous inflows from the foreign funds, might keep benchmark indices in the upbeat mood. Despite huge volatility and profit booking during the last week, Indian bourses managed to end the week with smart gains. In the last one week, the 30-share Sensex of Bombay Stock Exchange(BSE) added 4.30%, while S&P CNX Nifty of National Stock Exchange(NSE) gained 4.43%. However, some dealers in the market say weak earnings figures from the Reliance Industries and flat closing of US markets on Friday might have some impact on the domestic bourses when it opens on Monday.

FE

IPO

7)Oil India, the nation’s second biggest state-run explorer, is planning to float an initial public offering(IPO) this September to raise around Rs 2,500 crore to fund its various exploration and production activities.

BS

MUTUAL FUNDS

8)Shinsei AMC has scheduled its first equity fund, Shinsei Industry Leaders Fund, for launch on July 27 and plans to launch two more equity funds before March 2010, a senior company official said. “We will launch our Shinsei Industry Leaders Fund on July 27. This will be our first equity offering,” the company’s Chief Investment Officer, N Sethuram Iyer, said.

BS

COMMODITIES

9)Crude oil futures prices on the Multi Commodity Exchange mainly followed the global trends on the week ended Friday amid good buying support. Crude oil rose nearly $68 a barrel on weak dollar and advancing equities markets on better than expected company earnings that highlighted the prospect of a quick economic recovery. Copper August 2009 contracts were traded higher by nearly Rs 10 at Rs 269.15 per kg on Friday, up by 3.8% over the previous week.

FE

10)In a bid to expand the agri futures market, the National Commodities and Derivatives Exchange(NCDEX) plans to bring a system where the farmers would be in a position to alter their cropping pattern based on the futures prices disseminated by the exchange, rather than the practice of sowing a particular crop based on current prices.

FE

11)The Multi Commodity Exchange of India(MCX), India’s largest commodities futures trading platform, will relaunch guarseed contracts on Monday, for delivery in September, October and November, after modifications in contract specification. If successful, this would be the third launch of the cattlefeed on MCX platform.

BS

12)Turmeric prices in the major mandis in Nizamabad and Erode are set to rise further till September on good demand in both domestic and international markets. Spot prices have gone up by Rs 5000- 6,000 a quintal in the last one month.

BL

REAL ESTATE

 13)AT LEAST six real estate firms plan to mop up more than $2.5 billion from the capital markets by December, 18 months after poor response forced Emaar MGF to scrap its Rs 6,500-crore maiden share issue a day after it opened in February last year. Emaar MGF, Sahara Prime City, Godrej Properties, Lodha Developers, Nitesh Estates and Sriram Properties will hit the capital markets this year, signalling that the worst may be over for an industry that virtually cratered in the global economic downturn last year.
 There are two reasons for this rush, said international property consultants Jones Lang LaSalle Meghraj(JLLM) chairman Anuj Puri. “One, the market is looking comparatively better today, and two, most of these companies are in serious need of liquidity,” he said.

ET

14)THE government is weighing whether more restrictions on foreign investors withdrawing their money from the real estate sector within three years of investment will affect future inflow of foreign capital into the sector. Real estate developers had recently urged the government to reinterpret a provision in the policy so that foreign
 investment beyond the ‘minimum capital’ of $5 million is not withdrawn freely from India before three years of making the minimum capital.

 ET

15)Signalling market realities and efforts to keep projects going. Prajay Engineers Syndicate Ltd has come up with sub-Rs 10 lakh, two-bedroom homes near Shamirpet on the outskirts of Hyderabad. The Hyderabad-based listed realty company has announced a Rs 260-crore project on a 72-acre plot. It plans to offer about 1,000, two-bedroom, fully furnished, 715 sq ft studio apartments.

 BL

 COMMUNICATIONS

 16)The fate of the global telecom major AT&T’s India entry as well as industry biggies like DLF, Sterlite group and Moser Baer’s entry into the telecom sector would now be decided by the Telecom Regulatory Authority of India(Trai).

FE

INFORMATION TECHNOLOGY

 17)As global recessionary pressures increase, enterprises are looking at ways to capitalise their existing IT infrastructure, with many of them adopting the managed services business model. Telecom IT companies such as products company Subex and Netmagic Solutions, an IT services provider that count on customers such as AT&T, BT and Vodafone, have adopted this model.

ET

18)Hexaware Technologies Ltd is chasing more of large customers who can bring in revenues of over $10 million. It is also increasing its focus on the domestic business. Four customers contribute revenues of over $10 million each(on a trailing 12 months basis), and “our aim is to double it in the next couple of years,” according to the company’s Chief Executive Officer and Vice-Chairman, Mr P R Chandrasekar.

BL

19)THE number of internet users worldwide is expected to touch 2.2 billion by 2013 and India is projected to have the third largest online population during the same time, says a report. “The number of people online around the world will grow more than 45% to 2.2 billion users by 2013 and Asia will continue to be the biggest internet growth engine. “…India will be the third largest internet user base by 2013, with China and the US taking the first two spots respectively,” technology and market research firm Forrester Research said in a report.

ET

INTERNATIONAL

20)THE world’s two biggest initial public offerings this year are from China and Brazil, reflecting the “growing power” of the so-called BRIC nations, said Barton Biggs, who runs New York-based hedge fund Traxis Partners. China State Construction Engineering, the nation’s largest housing contractor, raised $7.3 billion in Shanghai in the largest IPO in 16 months. The Brazilian affiliate of Visa, VisaNet, took in $4.3 billion in its Sao Paulo offering in June.

ET

21)THE worst US recession in five decades probably eased in the second quarter as trade and government stimulus mitigated the damage from declines in housing, inventories and consumer and business spending, economists said before a report this week. The world’s largest economy shrank at a 1.5% pace following a 5.5% drop in the first three months of 2009, according to the median forecast of 66 economists surveyed by Bloomberg News ahead of Commerce Department figures due July 31.

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

FOR THE COMING WEEK (27 July 2009)

FOR THE COMING WEEK:

Indices are likely to face resistance at the
15480-15600-15850/4580-4650-4700 levels.

Any surge in the indices may see profit taking around the indicated resistances.

Downside supports are placed at the 15200-15050-14900/4450-4400-4200 levels.

Depending on the global cues we expect to see fresh buying around the mentioned 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.

FOR THE DAY (27 July 2009)

FOR THE DAY:

Domestic markets are likely to open on positive note following the positive Asian indices.

Traders are advised to stay long above 4550 else from lower levels of 4500 levels with a final stop loss placed below 4450 levels.

Investors are advised to remain cautious and play levels specific due to the corporate results which will set the trend for a directional movement in the near term on either direction.

The F&O expiry is expected to induce severe choppiness in the trades.