Support & Resistances for 22-09-2009

Support & Resistances for 22-09-2009
 
    SENSEX NIFTY FUTURE (July2009)
    BANKNIFTY NIFTY
18/09/2009 Open  16650.05 4963.95 8410.00 4957.95
High 16765.03 4980.85 8433.00 4988.80
Low 16610.05 4931.90 8300.00 4942.00
Close 16741.30 4976.05 8379.15 4978.20
LTP 16741.30 4976.05 8385.00 4982.00
Range 154.98 48.95 133.00 46.80
22/09/2009 R3 17015.42 5060.83 8636.72 5063.27
R2 16860.44 5011.88 8503.72 5016.47
R1 16800.87 4993.97 8441.43 4997.33
PP 16705.46 4962.93 8370.72 4969.67
S1 16645.89 4945.02 8308.43 4950.53
S2 16550.48 4913.98 8237.72 4922.87
S3 16395.50 4865.03 8104.72 4876.07
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Pivot Point (22-09-2009)

22/09/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ONGC 1,162.05 1116.10 1138.30 1148.70 1160.50 1170.90 1182.70 1204.90
SBIN 2,154.00 1949.43 2031.93 2066.87 2114.43 2149.37 2196.93 2279.43
STER 765.60 725.65 745.25 758.50 764.85 778.10 784.45 804.05
RCOM 305.25 289.30 299.25 305.95 309.20 315.90 319.15 329.10
INFOSYSTCH 2,358.70 2270.92 2317.37 2339.63 2363.82 2386.08 2410.27 2456.72
BHARTIARTL 442.00 387.55 411.60 422.20 435.65 446.25 459.70 483.75
NTPC 207.85 200.58 204.18 206.32 207.78 209.92 211.38 214.98
BHEL 2,275.00 2213.92 2243.47 2258.63 2273.02 2288.18 2302.57 2332.12
JINDALSTEL 632.10 580.98 605.78 616.37 630.58 641.17 655.38 680.18
SAIL 176.65 164.03 170.43 174.17 176.83 180.57 183.23 189.63
LT 1,658.70 1594.53 1620.53 1633.07 1646.53 1659.07 1672.53 1698.53
DLF 428.85 383.85 402.35 411.20 420.85 429.70 439.35 457.85
TATASTEEL 517.60 485.65 504.45 512.70 523.25 531.50 542.05 560.85
RELINFRA 1,236.95 1048.83 1129.83 1160.67 1210.83 1241.67 1291.83 1372.83
RELIANCE 2,099.70 2015.62 2053.52 2069.83 2091.42 2107.73 2129.32 2167.22
ICICIBANK 842.50 797.15 828.70 850.50 860.25 882.05 891.80 923.35
UNITECH 112.15 102.97 106.82 108.48 110.67 112.33 114.52 118.37
RELCAPITAL 927.00 826.08 869.43 890.57 912.78 933.92 956.13 999.48
HDFCBANK 1,530.00 1474.47 1501.17 1518.03 1527.87 1544.73 1554.57 1581.27
HDFC 2,536.35 2455.60 2500.50 2530.90 2545.40 2575.80 2590.30 2635.20
TATAMOTORS 596.00 569.95 585.55 595.65 601.15 611.25 616.75 632.35
AXISBANK 920.10 849.87 879.92 895.88 909.97 925.93 940.02 970.07
ITC 227.00 222.52 225.27 227.03 228.02 229.78 230.77 233.52
TCS 585.00 561.98 572.98 577.97 583.98 588.97 594.98 605.98
RPOWER 172.00 146.03 156.43 160.17 166.83 170.57 177.23 187.63
CAIRN 263.45 251.13 258.88 263.47 266.63 271.22 274.38 282.13
M&M 885.25 794.80 835.10 852.20 875.40 892.50 915.70 956.00
TATAPOWER 1,320.00 1256.78 1285.78 1299.57 1314.78 1328.57 1343.78 1372.78
HINDUNILVR 261.55 254.82 258.27 259.73 261.72 263.18 265.17 268.62
POWERGRID 108.00 105.50 106.65 107.35 107.80 108.50 108.95 110.10
MARUTI 1,645.00 1363.78 1473.58 1516.77 1583.38 1626.57 1693.18 1802.98
IDEA 76.70 74.17 75.27 75.78 76.37 76.88 77.47 78.57
WIPRO 569.00 546.08 556.48 561.37 566.88 571.77 577.28 587.68
SUNPHARMA 1,192.05 1128.32 1170.22 1195.33 1212.12 1237.23 1254.02 1295.92
GRASIM 2,810.00 2640.18 2714.38 2741.67 2788.58 2815.87 2862.78 2936.98
TATACOMM 489.95 460.23 473.98 479.52 487.73 493.27 501.48 515.23
GAIL 350.05 341.50 346.60 349.00 351.70 354.10 356.80 361.90
SIEMENS 561.05 529.32 544.02 552.73 558.72 567.43 573.42 588.12
RANBAXY 360.00 321.32 337.22 344.23 353.12 360.13 369.02 384.92
ACC 846.00 778.10 807.00 817.90 835.90 846.80 864.80 893.70
CIPLA 260.70 243.42 250.82 254.98 258.22 262.38 265.62 273.02
HEROHONDA 1,680.00 1598.35 1632.35 1647.70 1666.35 1681.70 1700.35 1734.35
HINDALCO 137.85 104.90 119.40 127.90 133.90 142.40 148.40 162.90
PNB 765.00 736.37 753.37 763.73 770.37 780.73 787.37 804.37
SUZLON 99.65 92.65 95.45 96.70 98.25 99.50 101.05 103.85
AMBUJACEM 99.90 95.10 97.60 98.70 100.10 101.20 102.60 105.10
NATIONALUM 354.50 328.37 342.37 347.73 356.37 361.73 370.37 384.37
ABB 799.50 762.85 778.60 787.80 794.35 803.55 810.10 825.85
HCLTECH 340.00 309.88 325.68 334.17 341.48 349.97 357.28 373.08
BPCL 546.00 505.67 522.67 529.33 539.67 546.33 556.67 573.67

Headlines (19 Sep 2009)

Date: 18 September 2009

Thought for the day

“Every worthwhile accomplishment, big or little, has its stages of drudgery and triumph; a beginning, a struggle and a victory.”

– Mohandas Gandhi

GENERAL

1)A SMALL Indian rover, wheeling the country’s hopes on the lunarscape, will travel to the moon on Chandrayan-II. This will be in addition to the Russian rover, one of the main payloads on board the second moon mission, making this one of the first missions to carry two robotic payloads on it.

Indian Express

ECONOMY

2)ANNUAL inflation as measured by the wholesale price index(WPI) moved into positive territory (0.12%) for the week ended September 5 after remaining in the negative for thirteen straight weeks following a further increase prices of food articles, a release by commerce ministry on Thursday showed.

ET

3)Economic think-tank CMIE has revised upwards the country’s economic growth forecast to 5.9% for this fiscal from its earlier projection of 5.8%. The recovery would come on the back of a 6.4% expected growth in the last quarter of FY’10, Centre for Monitoring Indian Economy(CMIE) said in its report on the state of the economy.

ET

CORPORATE / INDUSTRY

 4)UK-BASED GlaxoSmithKline(GSK) is in talks to buy a 5% stake in Dr Reddy’s Laboratories (DRL), four months after it entered into a marketing alliance with India’s second-largest drugmaker. Sources privy to the development said the deal may be priced at $150 million (Rs 730 crore) and could be clinched in two months if talks stay on track.

ET

5)Power equipment maker BHEL has recorded an alltime high turn- over of Rs 28,033 crore in the 2008-09 financial year. The state-run company’s exports also rose 41 per cent to Rs 3,265 during the year, Chairman and Managing Director K Ravi Kumar said, addressing the 45th Annual General Meeting of the company today.

BS

6)Thermax on Thursday announced its entry into the independent power producer (IPP) segment by bagging an order for the turnkey supply of a 270 mw power plant being set up by a Hyderabad based infra- structure company. The contract is valued at Rs 1,001 crore.

FE

MONEY / BANKING

7)The rupee on Thursday breached the 48-level to touch a one-month intra trade high before closing higher by 8 paise at 48.15/16 against dollar on heavy capital inflows amid sustained weakness in the US currency overseas.

BL

8)State Bank of India, India’s largest lender, was looking at acquisitions of up to $1 billion in the UK and expected to maintain a 40 per cent growth rate in its UK business, senior officials said on Thursday.

BS

9)The currency futures trading clocked the highest daily turnover of Rs 14,780 crore on both the National Stock Exchange(NSE) and MCX-SX on Thursday. The NSE currency derivatives registered total contracts of 15,01,209 aggregating Rs 7,219.22 crore on Thursday. Rupee futures registered an open interest of 4,31,359 lots, the NSE data said. The MCX-SX volume also zoomed to 15,71,638 lots aggregating Rs 7,560.97 crore. The MCXSX September rupee futures opened at 48.12.

ET

INSURANCE

 10)After exiting from its IT outsourcing outfit, financially battered American International Group (AIG) is now gearing up to sell its 26% in Tata AIG Life Insurance to its Indian partner. Tata, which holds 74% in the life insurance joint venture, has roped in consulting & auditing firm KPMG to structure the deal. However, AIG will continue in another joint venture, Tata AIG General Insurance.

FE

MARKETS

 11)Despite volatility throughout the trading session, the country’s equity indices managed to end the day with marginal gains shedding the days gains following huge sell-off in the benchmark heavyweight. The 30-share Sensex of the Bombay Stock Exchange added 34.07 points or 0.20% to end the day at 16,711.11.

FE

12)The S&P CNX Nifty today crossed the psychological 5,000 mark, for the first time since May 21,2008, on the back of sustained buying by foreign funds and on news of a speedy economic recovery. Rally in other Asian stocks and strong US economic data also boosted the market. The Nifty opened at 4,958.55 and soared to 5,003.05. How- ever, after hitting the 5,000 mark, it slipped to a low of 4,944.15. It finally ended on a flat note at 4,965.55, up 7.15 points, or 0.14 per cent.

BS

13)Reliance Industries’ sale of its own shares has kept the market abuzz with talks that the company may be looking at overseas asset acquisition. Reliance Industries-owned Petroleum Trust gained Rs 3,188 crore through the sale of 1.5 crore treasury shares of RIL on Thursday.

BL

14)Private airlines’ stocks, on Thursday, gained greater heights amid sudden rise in trading activity. SpiceJet witnessed bulk deals on the BSE. In one deal, Citigroup Global Markets Mauritius bought 36.80 lakh shares, representing around 1.5 per cent in the economy airlines from an unknown seller at Rs 34.41 a share.

BL

IPO

15)With strong response from retail and non-institutional investors, the initial public offer(IPO) of private ship builder Pipavav Ship- yard on Thursday got subscribed over three times on its second day of issue. The offer, through which the company hopes to raise funds up to Rs 513 crore, to over 25 crore bids for shares of the company against seven crore shares on offer.

FE

16)HDFC Mutual Fund is planning to float an initial public offer(IPO) by early 2010, industry officials said today. “The fund house is planning to list itself in January ,” a leading mutual fund distributor said.

BS

MUTUAL FUNDS

 17)Indian mutual fund houses are continuing to launch funds for investments in China. Following the footsteps of JP Asset Management Company, Mirae Asset Global Investment(India) on Wednesday floated its China fund. JP Asset in July launched Greater China Equity Off-shore Fund, which collected Rs 53 crore out of the total Rs 400 crore garnered by overseas-bound funds. These funds, which aims to provide long-term capital appreciation, have attracted interest fromcorporates, institutions as well as retail investors.

FE

18)IDFC Mutual Fund on Thursday said IDFC Money Manager Fund-Investment Plan A&B from Friday will levy an exit load of 1 per cent if investments were redeemed within 120 days from date of allotment. Currently, the scheme levies an exit load of 0.50 per cent on redemption within 45 days from allotment.

BS

COMMODITIES

 19)Gold prices hit 18-month high for a second consecutive session on Thursday as the dollar slid to one-year lows versus the euro, fuelling buying of the precious metal as an alternative asset. Traders said if dollar weakness persisted, the precious metal’s previous record high of $1,030.80 an ounce was likely to fall. Spot gold rose to $1,020.55 an ounce at 0932 GMT from $1,016.70 late in New York on Wednesday.

BL

REAL ESTATE

 20)INDIAREIT Fund advisors, which is promoted by the Piramal Group, is setting up its second real estate fund with a corpus of Rs 500 crore and expects to raise the money from investors by the end of this year. The group had earlier floated Indiareit Fund, a $450- million(Rs 2,025 crore at current exchange rates) real estate fund in 2006 and the proposed new Rs 500-crore fund is over and above this. The Piramal Group has a presence in sectors, such as health- care, diagnostics, glass manufacturing and real estate.

ET

21)TEXTILE major Raymond on Thursday announced plans to enter the real-estate development business in order to encash surplus land. To begin with, the Mumbai-based firm has decided to develop nearly 20 acre of land in its Thane plant for residential usage. Raymond’s Thane unit has land of 160 acres which also houses a school and a hospital.

ET

BUSINESS PROCESS OUTSOURCING

22)INDIA’S largest third-party outsourcing firm, Genpact, has offered to buy a majority stake in smaller rival WNS at $16 a share in an all-stock deal, said a person privy to the development. The world’s largest private equity fund Blackstone has also put in an aggressive bid for Warburg Pincus’ 50.1% stake in WNS in the range of $16-17 per share, he said, requesting anonymity.

ET

23)SWITZERLAND-based bank UBS, which is looking to exit its captive business and knowledge process outsourcing units, is in advanced negotiations with leading IT firms Cognizant and Genpact, said four people familiar with the development. The deal is expected to be announced soon, the people said.

ET

INFORMATION TECHNOLOGY

24)India’s third largest IT company Wipro is eyeing about Rs 700 crore from Government projects in the current fiscal. It intends to nearly triple this in three years. The move comes at a time when the Centre is clearing the decks for a slew of projects under the National e-Governance Plan(NeGP).

BL

25)HCL Technologies has bagged a five-year tranformational IT infra- structure management contract from Energy Future Holdings Corp (EFH), a Texas-based, privately-held energy company with a portfolio of competitive and regulated energy subsidiaries.

BL

26)Fraud-hit IT outsourcing company Satyam Computer Services Limited (rebranded as Mahindra Satyam) is getting itself back on track, and inching closer towards acquiring the multi-million multi-year contracts it lost from Telstra and Merrill Lynch, according to a source close to the development.

BS

INTERNATIONAL

27)Crude oil fluctuated in New York as a decline in US jobless claims and growth in housing starts were offset by a weakening dollar. Crude oil for October delivery rose 12 cents to $72.63 a barrel at 10:37 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

Today’s Levels (19-09-2009)

(Last Close : Sensex 16711 : Nifty 4966)

Today’s Levels

Trade short if Sensex fails to sustain above 16711 (Nifty 4966)
[Lower targets/supports at 16613(4941)/16546(4925) or lower]

Trade long if Sensex sustains above 16613 (Nifty 4941)
[Upper targets/resistances at 16711(4966)/16750(4978) or higher]

FOR THE DAY (18-09-2009)

FOR THE DAY:

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

 Trade long Nifty if it holds 4950 levels, else from lower support of 4920 with a stop loss placed at 4890 levels, targeting 4980-5000. Investors are advised to remain cautious at the newer highs.