Support & Resistances for 6-08-2009

                        Support & Resistances for 6-08-2009
           
    SENSEX NIFTY FUTURE (August2009)
        BANKNIFTY NIFTY
05-07-2009 Open  15882.39 4677.80 7642.00 4680.95
High 15973.10 4721.80 7656.20 4717.20
Low 15695.11 4622.20 7516.00 4629.85
Close 15903.83 4705.25 7607.50 4694.15
LTP 15903.83 4696.00 7607.50 4694.15
Range 277.99 99.60 140.20 87.35
06-08-2009 R3 16413.33 4882.28 7873.63 4855.10
R2 16135.34 4782.68 7733.43 4767.75
R1 16019.58 4743.97 7670.47 4730.95
PP 15857.35 4683.08 7593.23 4680.40
S1 15741.59 4644.37 7530.27 4643.60
S2 15579.36 4583.48 7453.03 4593.05
S3 15301.37 4483.88 7312.83 4505.70
           
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Pivot Point (06-08-2009)

06-08-2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ONGC 1194.30 1043.78 1109.63 1151.97 1175.48 1217.82 1241.33 1307.18
SBIN 1843.55 1762.27 1805.72 1824.63 1849.17 1868.08 1892.62 1936.07
STER 680.90 605.95 639.80 660.35 673.65 694.20 707.50 741.35
RCOM 279.65 261.30 270.75 275.20 280.20 284.65 289.65 299.10
INFOSYSTCH 2098.60 1993.83 2041.13 2069.87 2088.43 2117.17 2135.73 2183.03
BHARTIARTL 401.45 372.92 386.42 393.93 399.92 407.43 413.42 426.92
BHEL 2309.90 2151.97 2233.97 2271.93 2315.97 2353.93 2397.97 2479.97
NTPC 215.35 209.57 212.52 213.93 215.47 216.88 218.42 221.37
JINDALSTEL 2886.95 2656.73 2780.08 2833.52 2903.43 2956.87 3026.78 3150.13
SAIL 174.65 162.43 168.48 171.57 174.53 177.62 180.58 186.63
DLF 391.70 361.30 377.10 384.40 392.90 400.20 408.70 424.50
LT 1516.20 1419.65 1465.10 1490.65 1510.55 1536.10 1556.00 1601.45
TATASTEEL 473.30 435.02 453.77 463.53 472.52 482.28 491.27 510.02
RELINFRA 1213.20 1151.07 1181.07 1197.13 1211.07 1227.13 1241.07 1271.07
RELIANCE 2076.40 1959.20 2011.60 2044.00 2064.00 2096.40 2116.40 2168.80
ICICIBANK 773.40 729.80 749.80 761.60 769.80 781.60 789.80 809.80
UNITECH 92.65 81.47 87.22 90.08 92.97 95.83 98.72 104.47
RELCAPITAL 913.45 863.90 887.55 900.50 911.20 924.15 934.85 958.50
HDFC 2469.25 2311.93 2393.28 2431.27 2474.63 2512.62 2555.98 2637.33
TATAMOTORS 449.70 408.32 428.07 438.88 447.82 458.63 467.57 487.32
AXISBANK 851.85 760.73 812.68 832.27 864.63 884.22 916.58 968.53
ITC 243.75 227.08 235.38 239.57 243.68 247.87 251.98 260.28
TCS 529.00 465.70 495.10 512.05 524.50 541.45 553.90 583.30
RPOWER 170.35 155.78 162.48 166.42 169.18 173.12 175.88 182.58
CAIRN 240.05 228.15 233.65 236.85 239.15 242.35 244.65 250.15
M&M 921.15 860.47 891.22 906.18 921.97 936.93 952.72 983.47
TATAPOWER 1319.20 1229.73 1269.73 1294.47 1309.73 1334.47 1349.73 1389.73
HINDUNILVR 290.40 268.52 280.07 285.23 291.62 296.78 303.17 314.72
HINDALCO 110.85 98.93 105.08 107.97 111.23 114.12 117.38 123.53
POWERGRID 114.85 107.78 111.28 113.07 114.78 116.57 118.28 121.78
MARUTI 1441.70 1295.27 1378.97 1410.33 1462.67 1494.03 1546.37 1630.07
IDEA 77.90 72.80 75.30 76.60 77.80 79.10 80.30 82.80
WIPRO 498.15 447.55 471.05 484.60 494.55 508.10 518.05 541.55
SUNPHARMA 1180.85 1098.45 1136.35 1158.60 1174.25 1196.50 1212.15 1250.05
GRASIM 2831.55 2639.18 2723.98 2777.77 2808.78 2862.57 2893.58 2978.38
TATACOMM 489.40 466.80 479.20 484.30 491.60 496.70 504.00 516.40
GAIL 320.20 299.77 309.27 314.73 318.77 324.23 328.27 337.77
RANBAXY 276.30 256.47 267.17 271.73 277.87 282.43 288.57 299.27
ACC 924.95 853.67 885.32 905.13 916.97 936.78 948.62 980.27
CIPLA 275.25 260.42 267.22 271.23 274.02 278.03 280.82 287.62
HEROHONDA 1603.90 1554.97 1581.97 1592.93 1608.97 1619.93 1635.97 1662.97
SIEMENS 485.60 447.78 464.93 475.27 482.08 492.42 499.23 516.38
PNB 710.10 674.20 691.70 700.90 709.20 718.40 726.70 744.20
AMBUJACEM 110.25 98.22 103.82 107.03 109.42 112.63 115.02 120.62
SUZLON 96.75 89.73 93.28 95.02 96.83 98.57 100.38 103.93
NATIONALUM 325.60 292.10 310.00 317.80 327.90 335.70 345.80 363.70
NAGARCONST 145.35 133.32 140.12 142.73 146.92 149.53 153.72 160.52
ABB 699.70 640.23 671.23 685.47 702.23 716.47 733.23 764.23
HCLTECH 255.25 226.25 239.15 247.20 252.05 260.10 264.95 277.85
BPCL 501.00 456.00 477.00 489.00 498.00 510.00 519.00 540.00

Headlines (05 Aug 2009)

Date: 05 August 2009

 Thought for the day

“The most common cause of insufficient results is insufficient action.”

 — Brian Koslow

 GENERAL

1)Fifty four galleries from across the globe will come together to participate in a four-day Indian art summit to be held in Delhi from August 19. Touted as one of the first major art expositions in the country by the organisers, the event, to be held in Pragati Maidan, will see participation of nearly 10,000 art enthusiasts from premier art institutions across the country.

Indian Express

CORPORATE / INDUSTRY

 2)GLAXOSMITHKLINE Consumer Healthcare(GSKCH), the Rs 2000 crore healthcare company, is ready to shift into the top gear in India. Aggressive acquisitions and rapid movement into new product categories are on the cards to be able to double turnover to Rs 4,000 crore.

ET

3)The battle for Great Offshore has intensified with ABG Shipyard again hiking the offer price to Rs 520 a share after making a series of bulk and block purchases of Great Offshore stocks in the last few days.

BL

MONEY & BANKING

4)After a strong initial surge, the rupee snapped three sessions of rise and ended lower by eleven paise against the US currency on Tuesday due to weakness in equity markets amid dollar-buying by importers. In fairly active the domestic unit resumed sharply higher at 47.43/44 a dollar from Monday’s close of 47.63/64, in step with the Sensex going above 16,000 at the onset of business. However, sudden dollar-buying by importers and a firm US currency against the euro overseas weighed on the rupee, a forex dealer said. Also, a decline in the Sensex put pressure on the rupee which closed at 47.74/75 after moving in a range of 47.43-47.75 during the day.

BL

5)AXIS Bank, the country’s third largest private sector bank, is planning to raise around Rs 5,000 crore through equity offerings. The money may be raised through a mix of global depository receipts, qualified institutional placements and a preferential issuance to its promoters.

ET

INSURANCE

 6)JAPAN’s second largest insurance company, Mitsui Sumitomo In- surance group(MSIG), is ready to increase its stake in its Indian joint venture, Cholamandalam MS General Insurance Company(CholaMS). It is also betting big on the Indian market and expects the JV to be- come the group’s largest overseas company in the near future.

ET

MARKETS

7)The country’s equity indices closed the day below the dotted line, after witnessing huge volatility throughout the trading session. Weak cues from the European markets and profit-booking, led the benchmark indices to close in red. The 30-share Sensex of the Bombay Stock Exchange(BSE) lost 93.25 points, or 0.59%, to close the day at 15,830.98 points. The broader S&P CNX Nifty of the National Stock Exchange(NSE) was down by 30.90 points, or 0.66%, to end the day at 4,680.50 points.

FE

8)Credit Suisse has given an overweight call on the Indian stocks after raising the 12 month target for MSCI Asia ex Japan(MXASJ) index by 18% to 500 from the previous target of 425. It has set a Sensex target of 17,000 points by middle of next year.

FE

IPO / FPO

9)Future Ventures is planning to come up with an initial public offer in the near term with an aim to raise Rs 1,000 crore, company founder Kishore Biyani said on Tuesday.

TOI

10)A follow-on public offer of the state-run Rural Electrification Corp to raise around Rs 2,900 crore is likely to come up by the end of the current financial year(2009-10). The company wants the capital raised to disburse loans to power projects.

FE

11)The United Bank of India’s Board has approved issuance of 5 crore shares of Rs 10 each at a premium, its Executive Director, Mr T.M.Bhasin, has said. The bank’s initial public offering(IPO) is slated to hit the market in the last week of December or in the first week of January 2010.

BL

MUTUAL FUNDS

12)The government’s plan to divest its stake in public sector undertakings(PSUs) is encouraging fund houses to launch PSU funds. Some mutual funds have already launched and some others are in the process of launching PSU-dedicated schemes. For instance, Shinsei Mutual Fund has recently launched a PSU Bond Fund, which will invest in a portfolio of debt and money-market securities issued by PSUs and nationalised banks. Similarly, Religare Mutual Fund has filed its offer document with the Sebi to launch Religare PSU Equity Fund, an open-ended scheme.

BS

13)Shinsei Asset Management(India) has launched its maiden equity scheme – Shinsei industry leaders fund. Its new fund offer opened for subscription on July 27 and will close on August 25, a press release issued on Tuesday said.

ET

COMMODITIES

14)Gold held below $955 an ounce in Europe on Tuesday, off the previous day’s seven-week high, as traders awaited direction from currency markets, with easing oil and equity prices and weak physical demand restraining a rise.

BL

15)Gold prices declined for the second straight day by losing Rs 30 to Rs 15,000 per 10 gram in on Tuesday on sustained selling by stockists, influenced by weakening global trend. Fall in demand among retailers at higher levels also influenced the downtrend.

BS

16)Due to supply constraints in the global market, prices of black pepper have increased further. Though, harvesting in Brazil has started, the global supply of pepper is not expected to be better at least for the next 8-12 weeks.

BS

REAL ESTATE

17)NITESH Estates, a Bangalore-based realty major, is on private equity trail after Citi-group snapped a $350-million funding last year citing the deteriorating economic environment. The realty firm has now opened talks with Farallon Capital, JP Morgan and TPG Capital among others for raising capital through equity sale at entity and project levels, said multiple sources familiar with the development. Nitesh Estates is planning to raise Rs 1,200 crore through a combination of PE deals and a possible initial public offering(IPO) during the fourth quarter of this fiscal.

ET

18)Hit by severe liquidity crunch, Akruti City Ltd is now in the process of selling 15 different medium to small land parcels, originally meant for development of commercial and residential projects, in Mumbai, Thane, Pune and Ahmedabad. Further, the company is in the process of converting its four upcoming commercial complexes into residential apartments in Mumbai and Ghatkopar.

FE

 BUSINESS PROCESS OUTSOURCING

 19)GENPACT has slashed its revenue growth guidance for 2009, providing evidence that the woes afflicting the wider sector had reached India’s largest BPO firm, casting doubts on the growth prospects of its peers. This is the first time Genpact, which appeared until now to have weathered the global downturn better than most companies, has cut guidance in its two-year history as a publicly-listed company. Its announcement will put the focus on BPO rivals such as ExlService Holdings and WNS (Holdings), which are set to report their quarterly results this week. NYSE-listed Genpact said on Tuesday it now expects revenues to grow at 6-9% this year compared with its previous guidance of 10-15% growth, as it blamed greater-than-anticipated project cancellations, longer sales cycles and business volume cuts by existing clients.

ET

20)Infosys BPO, part of Infosys Technologies, has bagged a five-year contract with T-Mobile of UK to support the latter’s customer finance, commercial finance & accounting and procurement operations.The financial details of the deal were not disclosed.

ET

INFORMATION TECHNOLOGY

 21)Software industry body Nasscom on Tuesday said it would send a delegation to the United States in October to ensure that the interests of Indian IT companies are not compromised by the proposed Comprehensive Immigration Reform Bill in America that is likely to be introduced in September.

 TOI

22)Wipro Technologies has entered into a five-year strategic agreement to provide US-based multi-brand speciality retailer Charming Shoppes with end-to-end information technology services. The services offered include application management, remote infrastructure management and mainframe hosting. The financial details of the deal, however, were not disclosed.

 ET

23)HCL Infosystems on Tuesday announced bagging an order of over Rs 40 crore from the State Bank of India and associated banks to deploy, maintain and service their ATMs. Under the contract, HCL will deploy over 1,000 ATMs and cash dispensers across the country.

ET

24)US-based IT company Cognizant Technology Solutions has posted a 36 per cent growth in net income at $141.3 million (around Rs 705 crore), against $103.8 million(about Rs 515 crore) in the same quarter last year.

BS

 INTERNATIONAL

 25)Crude oil traded above $71 a barrel in Asia on Tuesday despite a bout of profit taking after a dramatic rally overnight on signs the ailing global economy was on the mend. New York’s main contract, light sweet crude for September delivery, fell 15 cents to $71.43 a barrel, after surging $2.13 in US trade on Tuesday.

 BS

26)Leading global automakers reported forecast-beating quarterly results on Tuesday, but continued to give cautious outlooks for the industry, which remains hard hit by weak demand and a lack of consumer credit.

 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

Today’s Levels (05 Aug 2009)

Previous Close : Sensex 15831 : Nifty 4681

Today’s Levels

Trade short if Sensex fails to sustain above 15879 (Nifty 4697)

[Lower targets/supports at 15787(4669)/15700(4643) or lower]

Trade long if Sensex sustains above 15787 (Nifty 4669)

[Upper targets/resistances at 15879(4697)/15940(4712) or higher]

FOR THE DAY (05 Aug 2009)

FOR THE DAY:

The indices are expected to open on a flat-to-positive note as global markets have ended on a positive note.

Trade long in Nifty holds above 4700 levels else from lower supports of 4640 with a stop loss placed below 4600 levels targeting 4750 and 4810 levels.