Pivot Point (06-10-2009)

06/10/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ONGC 1,169.75 1129.15 1148.85 1159.30 1168.55 1179.00 1188.25 1207.95
SBIN 2,133.15 1946.92 2050.12 2091.63 2153.32 2194.83 2256.52 2359.72
STER 749.80 679.33 717.73 733.77 756.13 772.17 794.53 832.93
RCOM 299.80 263.37 284.57 292.18 305.77 313.38 326.97 348.17
INFOSYSTCH 2,323.10 2228.72 2272.57 2297.83 2316.42 2341.68 2360.27 2404.12
BHARTIARTL 400.25 322.72 367.02 383.63 411.32 427.93 455.62 499.92
NTPC 209.05 202.85 205.75 207.40 208.65 210.30 211.55 214.45
BHEL 2,342.25 2173.97 2260.22 2301.23 2346.47 2387.48 2432.72 2518.97
JINDALSTEL 597.15 552.55 574.45 585.80 596.35 607.70 618.25 640.15
SAIL 162.15 146.65 155.25 158.70 163.85 167.30 172.45 181.05
LT 1,654.50 1587.17 1620.17 1637.33 1653.17 1670.33 1686.17 1719.17
DLF 422.80 392.40 409.20 416.00 426.00 432.80 442.80 459.60
TATASTEEL 497.00 472.93 486.33 491.67 499.73 505.07 513.13 526.53
RELINFRA 1,221.20 1090.25 1154.60 1187.90 1218.95 1252.25 1283.30 1347.65
RELCAPITAL 896.60 845.67 874.47 885.53 903.27 914.33 932.07 960.87
RELIANCE 2,139.10 2042.73 2093.43 2116.27 2144.13 2166.97 2194.83 2245.53
ICICIBANK 912.40 862.07 886.07 899.23 910.07 923.23 934.07 958.07
UNITECH 100.35 90.98 96.38 98.37 101.78 103.77 107.18 112.58
HDFCBANK 1,634.05 1576.02 1604.02 1619.03 1632.02 1647.03 1660.02 1688.02
HDFC 2,693.95 2478.80 2586.45 2640.20 2694.10 2747.85 2801.75 2909.40
TATAMOTORS 563.45 383.82 464.22 513.83 544.62 594.23 625.02 705.42
AXISBANK 969.10 892.52 936.17 952.63 979.82 996.28 1023.47 1067.12
ITC 238.55 216.52 226.32 232.43 236.12 242.23 245.92 255.72
TCS 615.30 565.77 593.77 604.53 621.77 632.53 649.77 677.77
RPOWER 163.00 155.73 159.93 161.47 164.13 165.67 168.33 172.53
CAIRN 256.60 244.82 251.27 253.93 257.72 260.38 264.17 270.62
M&M 899.80 808.27 853.27 876.53 898.27 921.53 943.27 988.27
TATAPOWER 1,278.35 1221.03 1250.18 1264.27 1279.33 1293.42 1308.48 1337.63
HINDUNILVR 267.05 253.53 259.88 263.47 266.23 269.82 272.58 278.93
POWERGRID 108.90 106.07 107.47 108.18 108.87 109.58 110.27 111.67
MARUTI 1,597.05 1491.75 1551.15 1574.10 1610.55 1633.50 1669.95 1729.35
IDEA 70.45 64.08 67.68 69.07 71.28 72.67 74.88 78.48
WIPRO 608.55 576.18 592.18 600.37 608.18 616.37 624.18 640.18
SUNPHARMA 1,434.05 1307.57 1364.62 1399.33 1421.67 1456.38 1478.72 1535.77
GRASIM 2,503.35 2223.12 2385.92 2444.63 2548.72 2607.43 2711.52 2874.32
TATACOMM^ 471.50 449.67 462.17 466.83 474.67 479.33 487.17 499.67
GAIL 364.60 342.28 352.23 358.42 362.18 368.37 372.13 382.08
SIEMENS 557.45 526.05 541.35 549.40 556.65 564.70 571.95 587.25
RANBAXY 401.35 371.48 388.18 394.77 404.88 411.47 421.58 438.28
ACC 813.90 775.97 793.97 803.93 811.97 821.93 829.97 847.97
CIPLA 274.65 248.37 261.12 267.88 273.87 280.63 286.62 299.37
HEROHONDA 1,641.55 1551.65 1595.45 1618.50 1639.25 1662.30 1683.05 1726.85
HINDALCO 118.00 102.30 111.20 114.60 120.10 123.50 129.00 137.90
PNB 807.30 717.22 760.57 783.93 803.92 827.28 847.27 890.62
SUZLON 87.10 74.78 81.43 84.27 88.08 90.92 94.73 101.38
AMBUJACEM 100.50 91.57 96.77 98.63 101.97 103.83 107.17 112.37
NATIONALUM^ 336.90 312.93 326.63 331.77 340.33 345.47 354.03 367.73
ABB 792.75 733.15 763.05 777.90 792.95 807.80 822.85 852.75
HCLTECH 334.90 316.68 326.13 330.52 335.58 339.97 345.03 354.48
BPCL 563.30 537.10 549.10 556.20 561.10 568.20 573.10 585.10
IDFC* 149.90 136.30 144.10 147.00 151.90 154.80 159.70 167.50
JPASSOCIAT* 231.65 217.47 225.12 228.38 232.77 236.03 240.42 248.07
                 
* NEW ENTRY FROM 20 OCT 2009            
^ TO BE REPLACED FROM 20 OCT 2009          

Support & Resistances for 06-10-2009

Support & Resistances for 06-10-2009
 
    SENSEX NIFTY FUTURE (Oct 2009)
    BANKNIFTY NIFTY
05/10/2009 Open  17062.01 5076.05 8738.80 5000.00
High 17062.01 5076.05 8790.00 5054.00
Low 16835.80 4991.95 8650.00 4995.05
Close 16866.41 5003.20 8674.30 5008.50
LTP 16866.41 5003.20 8677.00 5012.90
Range 226.21 84.10 140.00 58.95
06/10/2009 R3 17373.83 5191.93 8984.77 5137.08
R2 17147.62 5107.83 8844.77 5078.13
R1 17007.01 5055.52 8759.53 5043.32
PP 16921.41 5023.73 8704.77 5019.18
S1 16780.80 4971.42 8619.53 4984.37
S2 16695.20 4939.63 8564.77 4960.23
S3 16468.99 4855.53 8424.77 4901.28
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Headlines (05 October 2009)

Date: 05 October 2009

 Thought for the day

“If you wait for opportunities to occur, you will be one of the crowd.”

–Edward deBono

GENERAL

1)India and the U.S. may clinch the much-awaited “arrangements and procedures” agreement on reprocessing the spent nuclear fuel of American origin at a meeting in Vienna soon. Officials of the nuclear establishments of the two countries are expected to hold talks in the next fortnight.

Hindu

ECONOMY

2)IMF on Sunday asked most Asian countries to continue with monetary and fiscal stimuli till signs of economic recovery are clear. The advice by a key IMF official came even as he said global economy is beginning to pull out of recession and Asian giants, India and China, are leading the recovery of developing nations.

FE

3)India has crossed the $100-billion milestone in foreign direct investment(FDI) through equity since 2000 up to July this year testifying the country’s increasing profile as a safe and sound investment destination in the midst of the global financial crisis.

FE

4)Pushed by higher food prices, wholesale price inflation is rising at a faster pace than expected and could be more than 7 per cent by the end of the current financial year, say experts.

BS

CORPORATE / INDUSTRY

 5)THE country’s largest auto maker, Tata Motors, on Sunday said it expects to clock a double digit growth in sales in the commercial vehicle(CV) segment this fiscal on the back of reviving market demand. The company hopes to benefit from orders for delivery  of 5,000 buses to various state and local transport bodies under Jawaharlal Nehru National Urban Renewal Mission(JNNURM).

ET

6)THE state-owned Tamil Nadu Newsprint and Papers(TNPL), which celebrated its silver jubilee on Saturday, is on an expansion mode. Speaking on the occasion, Tamil Nadu deputy chief minister MK  Stalin announced a Rs 612-crore mill development plan at Kagithapuram in Karur district.

ET

MONEY / BANKING

 7)IN AN attempt to improve sagging credit demand banks are rolling out festival schemes on home loans ahead of Diwali. The deals  include teaser rates for the initial years with some lenders giving an option to shift to either fixed or floating rates in subsequent years.

ET

8)State Bank of India is set to raise up to $1 billion(about Rs 4,700 crore) from the international market this month by issuing five-year maturity bonds. This will fill up the immediate fund-requirement of the bank to fuel its expansion plans in key overseas markets, primarily setting up of around 40 new offices, and expanding the lending book.

BL

INSURANCE

 9)PRIVATE insurer ICICI Prudential has pipped SBI Life to regain the top position among private players garnering new businesses worth Rs 1,725 crore in the first five months of the current  financial year. SBI Life, promoted by the country’s largest lender, State Bank of India, earned first year premium worth Rs  1,704 crore in the April-August period while ICICI Prudential collected Rs 1,725 crore in the same period, according to an  IRDA data.

ET

MARKETS

10)Dalal Street is likely to witness some uncertainty this week, as investors are expected to trade cautiously at higher levels and take guidance from IT major Infosys Technologies, which is scheduled to announce its second quarter results this Friday.

BS

11)Country’s eight of the top-10 firms together added over Rs 53,000 crore to their market capitalisation last week, while two state-run firms – NTPC and NMDC – saw an erosion in their valuation. State-run trading firm MMTC gained the most and climbed to third slot from fourth.

BS

IPO / FPO

12)Drug maker Glenmark Generics, a subsidiary of Glenmark Pharmaceuticals, expects to raise up to Rs 570 crore through its initial public offer(IPO) for funding loans and general corporate purposes. The company, which filed the draft red herring prospectus(DRHP) with market regulator Sebi on September 30, is mulling a pre-IPO placement worth Rs 100 crore.

ET

13)The government has asked Steel Authority of India(SAIL) to give a specific proposal for its proposed public offering and the PSU’s board would discuss the same at a meeting later this month. Once the specific proposal is submitted it would be taken up with the finance ministry, as the government is likely to divest part of its holding at the time of public offer, a senior government official said.

BS

MUTUAL FUNDS

 14)With ample liquidity in the system, non-banking finance companies (NBFCs) are once again a lucrative investment option for mutual funds. Mutual funds exposure to NBFCs has gone up by over 20  per cent since April, when markets started recovering and fund-raising for companies became easier. NBFCs are one of the  favourite sectors for mutual funds for debt investments.

BS

15)If you had to pick a sector to bet on just after the Lehman  Brothers collapse in September 2008, you might not have chosen  the banking sector. But the domestic funds which invested in this sector have reaped 54-per cent returns over the last one year. The sensex has managed a 31-per cent gain in the same period.  Kotak PSU Exchange Traded Fund, PSU Bank BeEs, Reliance Banking and Sundaram BNP Paribas Financial Service Opportunities notched up returns of over 55 per cent, outperforming the  broader market indices.

BL

COMMODITIES

16)Copper prices hit a two-month low on Friday after weak jobs data from the US eroded confidence in demand prospects and reinforced worries about the pace of economic recovery. Benchmark copper  on LME traded at $5,843 a tonne at 1331 GMT, from $5,985 at the close on Thursday, having earlier hit $5,810, its lowest since August 3.

ET

REAL ESTATE

17)Sahara Group’s realty firm Sahara Prime City, which aims to  raise Rs 3,450 crore from an initial public offer, will utilise Rs 2,668 crore in the next three years to part-fund development of about 19,000 housing units across the country.

BS

18)With “green shoots” becoming a byword for the ‘receding recession’, a new pattern may be emerging in the realty sector of South India – sell-out properties lock, stock and barrel, or reduce financial burden by signing up a joint venture wherever possible. This may lead to consolidation in a sector seen as rather unorganised. The Gujarat-based realtor Radhe Developers (India) Ltd, listed on the BSE, offers one such example. It plans to invest around Rs 175 crore in Kerala and Andhra Pradesh to develop a resort and high-end residential villas, respectively.

BL

COMMUNICATIONS

 19)The collapse of talks between Indian telecom major Bharti and South Africa’s MTN may be a big setback, but come next month and the domestic telecom space would see a lot of activity in terms of mergers and acquisitions (M&A).

FE

20)INDIA’S state-run BSNL and MTNL have expressed interest in acqui- ring a 46% stake in Zain, Kuwait’s biggest phone company. Kharafi Group, one of Zain’s largest shareholders, on Sunday said it agreed to sell the stake, reportedly valued at about $13.7 billion, to a  group of investors that included the Bharat Sanchar Nigam Limited, the Mahanagar Telephone Nigam Limited, India’s Vavasi Group and Malaysian billionaire Syed Mokhtar al-Bukhary.

ET

21)AFTER shying away from the outsourcing model for several years,  state-owned BSNL is now going all out to replicate this business model, which has become the cornerstone behind the strategies employed by private operators like Bharti Airtel. BNSL has now decided to outsource its customer care requirements to private call centres. The telco has already invited bids for setting up and managing its BPO operations that will cover over 17 million customers  across the four Southern states as per a notification on its website.

ET

22)In spite of veering away from the conventional per minute billing to a per-second basis, Tata Teleservices said Tata DoCoMo is  gaining high minutes of usage and average revenue per user(ARPU) as per the industry standards. This GSM brand is also getting  good traction in terms of subscriber base and the company has recently added more than one million subscribers within the first  month of its launch in the Maharashtra and Goa circle.

FE

 INTERNATIONAL

 23)Service industries in the US, the largest share of the economy, probably stabilised in September after contracting for almost a year, economists said before a report this week. The institute for supply management’s index of non-manufacturing businesses, which reflects almost 90% of the economy, rose to 50, according to the median of 64 forecasts in a Bloomberg News survey ahead of figures on Monday. Fifty is the dividing line between expansion and contraction.

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

FOR THE COMING WEEK (Oct 2009, 05-09)

FOR THE COMING WEEK:

Indices are likely to face resistance at the 16800-17000-17200/5000-5050-5100 levels.

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

Downside supports are placed at the 16650-16500-16200/4900-4850-4800 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 (05-10-2009)

FOR THE DAY:

Domestic markets are likely to open on a weak note following the negative Asian indices.

Traders are advised to stay long if Nifty holds 5000 with a stop loss placed below 4970 levels.

Investors are advised to remain cautious and play levels specific as higher levels may continue to witness profit taking.

Hence, maintain a buy at dips strategy until the mentioned supports are held.