Pivot Point (04 Sep 2009)

04/09/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
RELIANCE 1930.80 1819.30 1883.20 1907.00 1947.10 1970.90 2011.00 2074.90
ICICIBANK 735.95 695.72 717.52 726.73 739.32 748.53 761.12 782.92
RELCAPITAL 890.00 832.37 865.07 877.53 897.77 910.23 930.47 963.17
DLF 412.85 395.78 405.28 409.07 414.78 418.57 424.28 433.78
LT 1514.75 1428.42 1475.72 1495.23 1523.02 1542.53 1570.32 1617.62
TATASTEEL 420.65 401.00 411.35 416.00 421.70 426.35 432.05 442.40
RELINFRA 1118.75 1072.25 1098.65 1108.70 1125.05 1135.10 1151.45 1177.85
HDFC 2382.10 2301.62 2347.07 2364.58 2392.52 2410.03 2437.97 2483.42
ONGC 1140.25 1083.75 1115.55 1127.90 1147.35 1159.70 1179.15 1210.95
SBIN 1747.00 1707.63 1727.33 1737.17 1747.03 1756.87 1766.73 1786.43
STER 644.60 608.45 628.30 636.45 648.15 656.30 668.00 687.85
RCOM 291.40 255.42 271.87 281.63 288.32 298.08 304.77 321.22
INFOSYSTCH 2187.20 2039.50 2107.60 2147.40 2175.70 2215.50 2243.80 2311.90
BHARTIARTL 404.95 377.75 393.35 399.15 408.95 414.75 424.55 440.15
BHEL 2196.55 2096.77 2148.52 2172.53 2200.27 2224.28 2252.02 2303.77
NTPC 205.60 194.95 200.40 203.00 205.85 208.45 211.30 216.75
HCC 105.10 99.65 102.60 103.85 105.55 106.80 108.50 111.45
JAICORPLTD 223.45 212.45 218.15 220.80 223.85 226.50 229.55 235.25
JINDALSTEL 3170.90 3034.05 3107.00 3138.95 3179.95 3211.90 3252.90 3325.85
SAIL 160.10 152.22 156.57 158.33 160.92 162.68 165.27 169.62
HDFCBANK 1435.40 1390.13 1413.13 1424.27 1436.13 1447.27 1459.13 1482.13
TATAMOTORS 510.30 468.55 492.20 501.25 515.85 524.90 539.50 563.15
AXISBANK 888.60 838.68 866.13 877.37 893.58 904.82 921.03 948.48
ITC 226.80 214.52 220.87 223.83 227.22 230.18 233.57 239.92
TCS 533.65 508.27 522.22 527.93 536.17 541.88 550.12 564.07
RPOWER 160.60 155.67 158.37 159.48 161.07 162.18 163.77 166.47
CAIRN 255.55 246.43 251.58 253.57 256.73 258.72 261.88 267.03
M&M 813.05 741.35 782.35 797.70 823.35 838.70 864.35 905.35
TATAPOWER 1265.20 1184.73 1227.73 1246.47 1270.73 1289.47 1313.73 1356.73
HINDUNILVR 267.65 254.82 261.52 264.58 268.22 271.28 274.92 281.62
HINDALCO 103.00 97.28 100.53 101.77 103.78 105.02 107.03 110.28
POWERGRID 106.35 99.95 103.45 104.90 106.95 108.40 110.45 113.95
MARUTI 1507.40 1424.87 1469.07 1488.23 1513.27 1532.43 1557.47 1601.67
IDEA 79.80 76.37 78.17 78.98 79.97 80.78 81.77 83.57
WIPRO 551.60 520.27 536.07 543.83 551.87 559.63 567.67 583.47
SUNPHARMA 1185.80 1105.33 1148.93 1167.37 1192.53 1210.97 1236.13 1279.73
GRASIM 2607.50 2543.50 2576.70 2592.10 2609.90 2625.30 2643.10 2676.30
TATACOMM 488.05 463.85 477.35 482.70 490.85 496.20 504.35 517.85
GAIL 357.75 318.62 336.72 347.23 354.82 365.33 372.92 391.02
RANBAXY 315.65 285.20 302.55 309.10 319.90 326.45 337.25 354.60
ACC 769.00 726.45 750.40 759.70 774.35 783.65 798.30 822.25
CIPLA 266.00 252.50 260.20 263.10 267.90 270.80 275.60 283.30
HEROHONDA 1547.75 1475.92 1515.92 1531.83 1555.92 1571.83 1595.92 1635.92
SIEMENS 488.75 450.50 471.95 480.35 493.40 501.80 514.85 536.30
PNB 678.40 648.38 663.13 670.77 677.88 685.52 692.63 707.38
AMBUJACEM 99.85 95.78 97.68 98.77 99.58 100.67 101.48 103.38
NATIONALUM 328.90 313.47 322.37 325.63 331.27 334.53 340.17 349.07
ABB 729.25 705.17 717.92 723.58 730.67 736.33 743.42 756.17
HCLTECH 302.65 281.35 293.15 297.90 304.95 309.70 316.75 328.55
BPCL 554.55 508.60 530.35 542.45 552.10 564.20 573.85 595.60

Support & Resistances for 04-09-2009

Support & Resistances for 04-09-2009
 
    SENSEX NIFTY FUTURE (Sep 2009)
    BANKNIFTY NIFTY
03/09/2009 Open  15539.34 4608.75 7382.50 4639.00
High 15598.18 4647.35 7434.90 4649.90
Low 15356.72 4581.05 7330.00 4575.10
Close 15398.33 4593.55 7358.10 4587.45
LTP 15398.33 4593.55 7365.00 4580.50
Range 241.46 66.30 104.90 74.80
04/09/2009 R3 15934.00 4739.92 7584.13 4753.75
R2 15692.54 4673.62 7479.23 4678.95
R1 15545.43 4633.58 7418.67 4633.20
PP 15451.08 4607.32 7374.33 4604.15
S1 15303.97 4567.28 7313.77 4558.40
S2 15209.62 4541.02 7269.43 4529.35
S3 14968.16 4474.72 7164.53 4454.55
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Headlines (03 Sep 2009)

Date: 03 September 2009

Thought for the day

 “Finding is reserved for those that search.”

 – Jim Rohn

GENERAL

1)Concerned at rising prices of essential commodities and food items, the government on Wednesday exempted transporting of foodgrain, fertilisers and petro products through rail and waterways from ser- vice tax. The exemption is with effect from September 1, a notification from the Central Board of Excise and Customs (CBEC) said.

TOI

CORPORATE / INDUSTRY

2)Bajaj Auto has for the first time in 10 months posted a positive growth of 4.09% in motorcycle sales. The country’s second largest two-wheeler manufacturer sold 1,82,441 units in August against 1,75,274 units during the same month last year.

FE

3)GODREJ Appliances, one of the largest home appliances makers in the country, is planning to make a nationwide foray into the television segment over the next one year. The company expects to corner a 5% market share and generate revenue of around Rs 600 crore by March 2011.

ET

4)Prices of hot rolled steel are on the rise again, with leading steel makers increasing rates this month. Steel Authority of India(SAIL) has increased its prices in flat products by about Rs 1,500 this month. According to Mr S K Roongta, Chairma, SAIL, prices are moving up on the back of positive sentiment. Tata Steel, too, has increased rates of HR coils by about 3-4 per cent. HR coils are used in the making of automobiles and consumer durables, amongst other things.

BL

MONEY & BANKING

5)The rupee appreciated marginally against the dollar on Wednesday after the RBI stepped in to arrest the domestic currency’s losses. It opened weak at 49.18 and touched a one-month low of 49.20. It closed at 48.96, against the previous close of 49.02/04.

BL

6)WITH sluggish demand for credit, banks have invested a record Rs 1 lakh crore in mutual funds from this April to July, which is nearly three times what they have extended as loans during the period.

ET

7)Bank of India(BoI) has earmarked as much as Rs 600 crore in a bid to penetrate over 14 foreign locations in the current financial year. The allocated funds would enable BoI to meeet the regulatory requirements in respective countries to open new branches or float subsidiary companies.

FE

8)The turnover of interest rate futures traded on the NSE fell to Rs 113 crore on Wednesday, against Rs 267 crore recorded on Monday, the first day of its launch. On Tuesday too the turnover was lower at Rs 147 crore. Many banks and primary dealers do not have systems in place and they need lot of approvals before they start trading. In IRF, the trade will pickup only after a few weeks, a market participant said.

BL

INSURANCE

9)A government-appointed committee on Wednesday proposed phased elimination of upfront commission paid to insurance agents, a suggestion if accepted would directly affect 30 lakh agents.

FE

MARKETS

10)Shares were highly volatile and ended lower for a third straight session on Wednesday, as cues from global markets remained negative. The Bombay Stock Exchange’s Sensitive Index closed down 83.73 points, or 0.5 per cent, at 15,467.46, after trading between 15,392.68 and 15,628.10. On the National Stock Exchange, the 50-stock S&P CNX Nifty fell 17 points, or 0.4 per cent, to close at 4,608.35.

BL

11)DELHI Stock Exchange(DSE), one of the demutualised regional stock exchanges in the country, may soon become operational after being dormant for the past several years. The DSE management is working on a revival plan, and is hopeful that trading will begin in the next few months.

ET

IPO / FPO

12)To ensure that a large batch of disinvestment proposals hit the primary market this fiscal, the government would depend on the follow on public offers from listed companies, instead of pushing for initial public offers, as the shelf of such proposals is nearly empty now. This means 2009-10 may not see new public sector firms debuting in the stock market, after NHPC and Oil India. For the stock market, however, even that would spell good news as the available stock of blue chip public sector companies will expand.

FE

13)OIL India Ltd, whose Rs 2,772-crore IPO is set to open on September 7, is not jittery about the lukewarm response NHPC’s issue got from the bourses on Tuesday. NHPC’s shares closed marginally above the issue price on Tuesday.

BL

OPEN OFFER

 14)Infrastructure major IL&FS, the new promoter of Maytas Infra, today made an offer to buy an additional 20 per cent stake in the crisis-hit firm at Rs 112.80 a share. In a public announcement made to the shareholders of Maytas Infra, IL&FS said its open offer would begin on October 24 and close on November 12.

BS

MUTUAL FUNDS

15)Improved condition of equity markets, coupled with inflows into debt schemes, has led to a surge in the assets under management (AUM) of several big fund houses in August. Several big assets management companies(AMC), including LICMF, Birla Sun Life MF, Kotak Mahindra MF, Reliance MF, UTI MF and ICICI Pru, have listed smart gains in August compared to July. As per data provided by Association of Mutual Funds in India, 38 fund houses witnessed a rise of Rs 59,965.78 crore or 8.69% to Rs 7,49,911.91 crore in August, compared to Rs 6,89,946.12 crore in July. Reliance MF continued to remain at top spot with its AUM for August at Rs 1,17,313.78 crore, gaining Rs 8,979.40 crore or 8.29%, as compared to Rs 1,08,334.38 crore in July.

FE

COMMODITIES

16)Gold prices held near $955 an ounce in Europe on Wednesday, awaiting fresh direction from the currency markets ahead of key US economic data due later. Losses on equity markets after Wall Street’s sell-off on Tuesday is reducing appetite for nominally higher-risk assets like commodities, with which gold is often grouped in so- called baskets for trading purposes, analysts said. Spot gold was bid at $955.80 an ounce at 1117 GMT, against $955.85 an ounce late in New York on Tuesday.

BL

REAL ESTATE

 17)WITH the buyers for residential property gradually returning, especially in the key regions like New Delhi-NCR and Mumbai, property prices here have moved upwards by 10-15%. While some developers have increased prices across their projects, there are those who are doing it on a project-specific basis.

ET

COMMUNICATIONS

 18)In a move that would expand its footprint in the country, American Tower Corporation(ATC) is in advanced talks for acquiring a couple of Indian tower companies. The Boston-based tower company is prepared to make significant investments in India but wants to buy at the right price.

BL

19)Barely a week after the government cleared the reserve price for 3G spectrum auction, the country’s largest telecom operator, Bharti Airtel, said it would launch 3G services by October 2010.

FE

20)LOOP Mobile on Wednesday said it plans to invest around $75 million in its Mumbai operations and double its subscriber base by this fiscal-end. “We have an aggressive plan to invest around $50-75 million in Mumbai this fiscal. The investment would be to increase our net- work,” the newly appointed Loop Mobile CEO Sandip Basu said.

ET

INTERNATIONAL

21)BP, Europe’s second-largest oil company, reported a “giant” oil discovery in the Gulf of Mexico after drilling one of the industry’s deepest-ever wells that may contain more than three billion barrels, it said on Wednesday, in a further boost for crude supplies.

ET

22)China’s 2.3 trillion yuan($337 billion) fund industry may triple in size in the next five years as new products attract money away from banks in the world’s fastest-growing major economy. China’s 18 year-old fund industry is stepping up innovations under Beijing’s financial reforms, preparing for products such as global exchange- traded funds(ETFs), overseas index-tracking products and real estate investment trusts(REITs).

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 (03 Sep 2009)

(Previous Close : Sensex 15467 : Nifty 4608)

Today’s Levels

Trade long if Sensex sustains above 15436 (Nifty 4597)
[Upper targets/resistances at 15532(4623)/15600(4638) or higher]

Trade short if Sensex fails to sustain above 15532 (Nifty 4623)
[Lower targets/supports at 15436(4597)/15363(4570) or lower]

Disclaimer 
While due care has been taken in preparing the above View, no responsibility can be or is assumed for any consequences resulting out of acting on it.

FOR THE DAY (03 Sep 2009)

FOR THE DAY:

The indices are expected to open on a flat-to-negative note tracking negative US markets.

Trade long in Nifty if it holds 4600 levels, with a stop loss placed at 4580 levels.

Alternatively assumes speculative short if Nifty slips below 4580 else from if nifty fails to breach 4650 levels.