11 Feb 2010

11 Feb 2010
Our market will open positive in line with strong Asian markets.Nifty will open around 4780 and again it will resist initially around 4830 level.

Recommendations :
Follow Buy calls in positive market bias and v.v.

Buy Pratibha sl 325 Target 338
Buy IOC sl 311 Target 325
Buy Sparc sl 81.5 Target 90 (Positional)
Buy ACC sl 869 Target 900 Abv 878
Buy BPCL sl 568 Target 580
Buy Cairn Abv 263.7
Buy HCLTech Abv 349 sl 347 Target 354
Buy HDFCBank  Abv 1611
Buy Rcom  Abv 171.7
Buy Ster  Abv 767.5
Buy Suzlon  Abv 75.7
Buy Unitech Abv 73.7
Buy Bajajhind at decline Target 188(Positional)
Buy Hindpetro sl 346 Target 354
Buy Ibrealest Abv 177 sl 174 Target 184 
Buy Sesagoa sl 364 Target 373
Sell Axisbank sl 1034 Target 1000
Sell Gail Below 405.9
Sell LT sl 1445 Target 1410
Sell Siemens  Below 634
Sell Bankbaroda sl 561 Target 547
Sell Corpbank  Below 433.8
Sell Crompgreav sl 421 Target 410
Sell Cumminsind Below 415
Sell Triveni Below 125.6

Stocks in News :

RBI releases guidelines on base rateFIIs were net buyers to the tune of Rs 879 crore in Nifty futures and net buyers of Rs 307 crore in Stock futures.
Sub-PLR (prime lending rate) lending for loans below Rs 2 lakh stands withdrawn
Banks to exhibit information on base rate at all branches, websites
Base rate change to be made public from time to Time
Banks to inform RBI on actual minimum, maximum lending rates quarterly
Banks should ensure interest rates charged are non-discriminatory
Divestment Secretary :
To meet steel secretary today: sources
Meeting in backdrop of NMDC & SAIL FPO
Divestment secretary met SEBI Chairman yesterday
Azim Premji Says:
IT industry to grow by 20% in FY11
Software, BPO industries to be strong job generators in FY11
Govt needs to focus on IT industry going forward

IPOs :

Hathway, ARSS Infra IPOs close today
Man Infraconstruction IPO opens on February 18, closes on February 22, price band not decided yet
Other stocks that are in news today:
Fortis Healthcare to raise up to Rs 1,250 crore
Bombay Dyeing to issue up to 3.96 million warrants on preferential basis, promoter stake to go up by 5%
Religare rights issue closes on February 15 (Monday)
JSW set to buy 2 coal mines in US – DNA

FIIs Fig :



The Nifty futures ended with 6-point discount. The Nifty 4800 Call added 11 lakh shares in Open Interest while Nifty 4700 Put shed 8 lakh shares in Open Interest. Stock futures shed 1.5 crore shares in Open Interest.
Huge short build-up was seen in Sun TV. The stock was down 8% and its futures Open Interest was up 205%.
Long unwinding was seen in Chambal Fertiliser. The stock fell 4.7% and its cost of carry (CoC) was also down. Futures Open Interest was down 11%.
Fresh short positions were seen in M&M and Educomp Solutions; their CoC was also down. M&M fell 3.3% and its futures Open Interest was up 4%. Educomp declined 3% and its futures Open Interest was up 8%.
Indiabulls Real Estate has witnessed speculative unwinding at highs. The stock gained 5.5% and its futures Open Interest was down 15%.

F&O cues:

Nifty 4800 Call adds 11 lakh shares in Open Int
Nifty 4700 Put sheds 8 lakh shares in Open Int
Nifty Futures at 6-point discount
Stock Futures shed 1.5 cr shares in Open Int
Sun TV down 7%, Open Int up 205%
Chambal Fert down 5%; Open Int down 11%
Nag Fert down 4%, Open Int down 5%
M&M down 4%; Open Int up 4%
Educomp down 3%; Open Int up 8%
Ibulls Realty up 5%; Open Int down 15%
Deccan Chronicle up 5%; Open Int down 7%
Voltas up 4%; Open Int down 16%
BPCL - up 3%; Open Int up 10%
FIIs in F&O on February 10
Net buy Rs 879 crore in Nifty futures
Nifty Futures Open Int down 22,403 contracts
Net sell Rs 142 crore in Nifty options
Nifty Options Open Int up 11,348 contracts
Net buy Rs 307 crore in Stock futures
Stock Futures Open Int down 6906 contracts
US Markets :
Wall Street ended in the negative zone but off intra-day lows. Traders mulled a possible bailout of Greece. Reports suggest that France and Germany are expected to present a bailout plan at an EU summit today.

Speculation about the Fed's exit strategy after comments from Fed Chief Ben Bernanke also weighed on the market.The Dow Jones industrial average was down 20.26 points, or 0.20%, at 10,038.38. The Standard & Poor's 500 Index was down 2.39 points, or 0.22%, at 1,068.13. The Nasdaq Composite Index was down 3.00 points, or 0.14%, at 2,147.87.

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