Pivot Point (19-09-2009)

17/09/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ONGC 1,150.00 1035.15 1097.15 1121.30 1159.15 1183.30 1221.15 1283.15
SBIN 2,091.00 1872.68 1956.68 1982.37 2040.68 2066.37 2124.68 2208.68
STER 769.60 710.38 734.28 739.72 758.18 763.62 782.08 805.98
RCOM 308.50 293.23 299.03 299.67 304.83 305.47 310.63 316.43
INFOSYSTCH 2,322.10 2183.65 2236.45 2253.50 2289.25 2306.30 2342.05 2394.85
BHARTIARTL 421.90 404.47 412.07 413.83 419.67 421.43 427.27 434.87
NTPC 209.70 203.02 206.37 207.93 209.72 211.28 213.07 216.42
BHEL 2,280.00 2135.93 2209.48 2239.07 2283.03 2312.62 2356.58 2430.13
JINDALSTEL 632.00 576.50 602.10 609.45 627.70 635.05 653.30 678.90
SAIL 179.00 148.78 160.63 164.07 172.48 175.92 184.33 196.18
DLF 418.90 394.22 404.92 408.83 415.62 419.53 426.32 437.02
LT 1,631.00 1565.30 1600.10 1614.80 1634.90 1649.60 1669.70 1704.50
TATASTEEL 533.90 432.93 470.28 481.37 507.63 518.72 544.98 582.33
RELINFRA 1,189.60 1119.43 1161.83 1183.02 1204.23 1225.42 1246.63 1289.03
RELIANCE 2,183.00 2077.53 2132.63 2156.77 2187.73 2211.87 2242.83 2297.93
ICICIBANK 864.00 815.00 834.90 839.65 854.80 859.55 874.70 894.60
UNITECH 113.45 108.27 110.42 110.73 112.57 112.88 114.72 116.87
RELCAPITAL 923.50 885.05 903.45 909.80 921.85 928.20 940.25 958.65
HDFCBANK 1,520.00 1459.63 1488.98 1501.62 1518.33 1530.97 1547.68 1577.03
HDFC 2,544.00 2390.28 2473.28 2514.57 2556.28 2597.57 2639.28 2722.28
TATAMOTORS 604.50 504.92 543.82 556.43 582.72 595.33 621.62 660.52
AXISBANK 907.60 879.17 895.42 902.53 911.67 918.78 927.92 944.17
ITC 231.85 223.92 227.12 228.08 230.32 231.28 233.52 236.72
TCS 570.35 542.85 557.60 564.75 572.35 579.50 587.10 601.85
RPOWER 164.00 159.43 161.78 162.67 164.13 165.02 166.48 168.83
CAIRN 268.50 248.47 256.17 257.78 263.87 265.48 271.57 279.27
M&M 857.00 819.88 835.88 838.77 851.88 854.77 867.88 883.88
TATAPOWER 1,313.00 1230.77 1262.77 1273.53 1294.77 1305.53 1326.77 1358.77
HINDUNILVR 257.15 244.87 252.27 255.93 259.67 263.33 267.07 274.47
POWERGRID 107.95 103.32 105.47 106.38 107.62 108.53 109.77 111.92
MARUTI 1,514.00 1438.68 1473.53 1486.77 1508.38 1521.62 1543.23 1578.08
IDEA 75.05 71.87 73.77 74.53 75.67 76.43 77.57 79.47
WIPRO 554.85 533.63 546.18 552.82 558.73 565.37 571.28 583.83
SUNPHARMA 1,240.00 1146.48 1186.08 1202.57 1225.68 1242.17 1265.28 1304.88
GRASIM 2,700.00 2449.72 2548.32 2579.83 2646.92 2678.43 2745.52 2844.12
TATACOMM 486.00 467.67 475.12 478.63 482.57 486.08 490.02 497.47
GAIL 354.00 326.55 342.75 352.50 358.95 368.70 375.15 391.35
SIEMENS 558.80 463.45 506.45 519.90 549.45 562.90 592.45 635.45
RANBAXY 356.50 311.43 329.33 336.47 347.23 354.37 365.13 383.03
ACC 806.10 727.90 757.25 765.75 786.60 795.10 815.95 845.30
CIPLA 262.00 249.95 257.35 261.20 264.75 268.60 272.15 279.55
HEROHONDA 1,674.00 1499.55 1570.55 1593.10 1641.55 1664.10 1712.55 1783.55
HINDALCO 131.20 111.23 119.13 122.17 127.03 130.07 134.93 142.83
PNB 780.50 610.22 679.47 712.73 748.72 781.98 817.97 887.22
SUZLON 98.55 94.23 96.53 97.17 98.83 99.47 101.13 103.43
AMBUJACEM 99.95 95.10 97.20 98.05 99.30 100.15 101.40 103.50
NATIONALUM 348.50 317.73 331.73 335.47 345.73 349.47 359.73 373.73
ABB 795.00 704.97 740.97 752.93 776.97 788.93 812.97 848.97
HCLTECH 322.40 297.72 308.02 311.13 318.32 321.43 328.62 338.92
BPCL 564.95 514.60 542.80 556.50 571.00 584.70 599.20 627.40

Support & Resistances for 17-09-2009

 

Support & Resistances for 17-09-2009
 
    SENSEX NIFTY FUTURE (July2009)
    BANKNIFTY NIFTY
16/09/2009 Open  16498.59 4894.65 8274.00 4929.50
High 16700.56 4966.30 8388.00 4972.50
Low 16498.59 4894.65 8270.00 4917.30
Close 16677.04 4958.40 8370.55 4961.85
LTP 16677.04 4958.40 8384.00 4968.00
Range 201.97 71.65 118.00 55.20
17/09/2009 R3 17029.34 5083.08 8578.85 5060.95
R2 16827.37 5011.43 8460.85 5005.75
R1 16752.20 4984.92 8415.70 4983.80
PP 16625.40 4939.78 8342.85 4950.55
S1 16550.23 4913.27 8297.70 4928.60
S2 16423.43 4868.13 8224.85 4895.35
S3 16221.46 4796.48 8106.85 4840.15
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Headlines (16 Sep 2009)

Date: 16 September 2009

Thought for the day

“Victory is always possible for the person who refuses to stop fighting.”

–Napolean Hill

GENERAL

1)A day after his mother Sonia Gandhi flew to Mumbai by economy class, All India Congress Committee general secretary Rahul Gandhi on Tuesday travelled in the Shatabdi Express to Ludhiana. He was accompanied by a posse of Special Protection Group personnel.

Hindu

ECONOMY

 2)MAHINDRA & Mahindra, ICICI Bank and State Bank of India led Indian corporates in paying higher advance taxes for the September quarter than a year earlier, indicating higher profits, even as Citi- bank and Deutsche Bank reduced payments on lower business as their parent companies emerge from the worst financial crisis since 1930s, according to provisional numbers from an income-tax department official. Tractor-maker Mahindra’s tax payment surged 600% to Rs 112 crore and ICICI, the second largest lender, doubled the payment to Rs 501 crores this quarter, a senior official at the income-tax department said on condition of anonymity. Higher advance tax payments by companies could boost government resources bringing in a partial relief to finance minister Pranab Mukherjee who is borrowing record funds from the market to continue with his major stimulus packages to boost economic growth. It also provides a peek into possible corporate earnings numbers which analysts factor in for their forecast.

ET

3)WORST seems to be over for the textile industry. Order books of textile exporters are full and inventories have gone down significantly signifying faster growth of the sector in the next two quarters, say top two exporters. The domestic textile firms were the worst sufferers until recently due to the recent global recession.

ET

4)The finance ministry is likely to come out with a framework by December for increasing public holding in listed companies where the promoters’ stakes are more than 75 per cent. And once the framework is out, a slew of follow-on public offers(FPOs) is expected to hit the market as about 180 companies have less than 25 per cent public holding.

BS

CORPORATE / INDUSTRY

 5)India’s largest power generator, NTPC, which is currently engaged in capacity addition of 22,430mw by the end of 11th plan, is exploring opportunities for acquisition of coal blocks or coal mines in South Africa, Indonesia, Mozambique and Australia.

FE

6)Mumbai-based Elder Pharmaceuticals Ltd is in talks with US-based TA Associates, one of the oldest and largest private equity firms in the world, to dilute a minority stake as part of its fund-raising plans. Sources said Elder promoters want to dilute up to 20% stake in the company.

FE

MONEY / BANKING

 7)The rupee was range-bound on Tuesday as there was both demand and supply for the dollar. The rupee opened at 48.65 and closed at 48.64/65, slightly higher from the previous close of 48.67.

BL

8)THE Reserve Bank of India(RBI) will not raise key policy rates until the Indian economy is back on high-growth track, RBI governor Duvvuri Subbarao said on Tuesday. RBI had cut its benchmark interest rate six times from October 2008 through April.

ET

9)Punjab & Sind Bank has announced lower interest rates for home and auto loans ahead of the festival season. The new interest rate for new home loans of up to Rs 20 lakh is 8.25% for the first 24 months, 9% for the next 36 months and thereafter it would be minus 2.5% of the prime lending rate but subject to a minimum of 10%, the bank said in a statement. Earlier, the average interest rate of the bank was priced between 10 and 11%.

FE

INSURANCE

 10)Max New York Life on Tuesday launched a unit-linked retirement solution called ‘Smart Invest Pension Plus’ plan. It offers accelerated accumulation option through limited pay and no allocation charges from the first year onwards and all subsequent years, Max Life said in a statement.

FE

MARKETS

11)EQUITY benchmarks closed at a near-16-month high on Tuesday as talks of strong advance tax payments by leading corporates bolstered sentiment. BSE’s 30-share Sensex closed at 16,454.45, up 240.26 points over the previous close. NSE’s 50-share Nifty closed at 4892.10, up 83.50 points over the previous close.

ET

IPO

12)The initial public offering (IPO) of the private sector ship builder, Pipavav Shipyard, will hit the capital market on Wednesday. Pipavav Shipyard expects to raise Rs 513 crore through its public offer.

FE

MUTUAL FUNDS

 13)Assets under management (AUM) of the mutual fund industry reached a new peak of Rs 7,57,000 crore at the end of August, a moderate growth of 5% over the previous month. Among the frontline MF categories, only the debt type, driven by the ultra short-term debt segment, registered net inflows for the month while all the other categories saw net outflows. On the returns front, equity funds outperformed on the back of a strong performance from mid- and small-cap funds while rising yields forced the longterm debt funds see negative returns.

FE

COMMODITIES

14)Copper climbed more than 1 per cent on Tuesday as investment money betting on a recovery in demand for metals buoyed the market, but rising stockpiles continued to cap the gains. Copper for three month’s delivery on the London Metal Exchange rose to $6,195 a tonne by 0922 GMT versus $6,140 a tonne.

BL

15)Gold eased in Europe on Tuesday as the dollar hit session highs versus the euro after German ZEW data, but held near the $1,000 an ounce mark amid hopes the metal may be consolidating before a further push higher. Spot gold to $997.10 an ounce at 0940 GMT against $998.65 late in New York on Monday.

BL

REAL ESTATE

 16)DLF, the country’s largest property developer, will soon conduct a poll among property brokers to decide the pricing and number of apartments to be offered in the second phase of its Capital Greens project in West Delhi soon. It’s a novel experiment, but property brokers in Delhi say the company is trying to test the waters in view of the vastly changed situation in the real estate market. Though DLF’s spokesman says the company is yet to fix a final price, feed- back from brokers suggest that the company is exploring the option of charging around Rs 7,000 a square foot(sq ft). At this level, the price is 56 per cent more than Rs 4,500 a sq ft it charged in the first phase of Capital Greens. DLF had, in fact, sold 1,356 apartments in a single day in April this year.

BS

COMMUNICATIONS

 17)FINANCE minister Pranab Mukherjee has backed the $23-billion Bharti-MTN deal and has assured “appropriate support and facilitation” even as the possibility of dual listing of shares looks remote
 at this juncture.

ET

INFORMATION TECHNOLOGY

 18)Infosys Technologies on Tuesday expanded the company’s Global Education Centre(GEC) at its Mysore campus, with the inauguration of a second training facility. With the GEC expansion, the company can provide training to 23,500 people at a time, making it one of the largest corporate education centres in the world.

BS

INTERNATIONAL

 19)Crude oil rose for the first time in three days as sales at U.S. retailers surged in August by the most in three years and manufacturing in the New York region grew, signalling the economy is recovering from the recession. Oil climbed as much as 1.7 per cent after Commerce Department figures showed that consumers took advantage of the government cash-for-clunkers programme. Crude oil for October delivery rose $1.03, or 1.5 per cent, to $69.89 a barrel at 9:45 a.m. on the New York Mercantile Exchange.

BL

20)President Barack Obama said job losses are “bottoming out” and the US economy looks to be growing again even as he warned against cutting off government aid “so soon that the recovery doesn’t take flight.” Obama, speaking to Bloomberg News one year after the bankruptcy of Lehman Brothers Holdings crippled the economy, voiced confidence that his plan to overhaul regulation to forestall another crisis would pass Congress this year. He vowed “to do everything I can” to fight banking industry efforts to kill his proposal for a financial products safety agency and stuck by his call to make the Federal Reserve responsible for ensuring the stability of the over- all system.

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

Today’s Levels (16-09-2009)

Last Close : Sensex 16454 : Nifty 4892

Today’s Levels

Trade long if Sensex sustains above 16454 (Nifty 4892)
[Upper targets/resistances at 16490(4910)/16535(4940) or higher]

Trade short if Sensex fails to sustain above 16490 (Nifty 4910)
[Lower targets/supports at 16454(4892)/16392(4875) or lower]

FOR THE DAY (16 Sep 2009)

FOR THE DAY:

The indices are expected to open on a flat to positive note tracking positive Global indices.

Trade long Nifty if it holds 4900 levels, else from lower support of 4880 with a stop loss placed at 4850 levels, targeting 4950-4980. Investors are advised to remain cautious at the newer highs.