04 March,2010 Morning Market Updates(Read in Informative abt Greece)

04 March, 2010 Morning Market Update :
Market will open flat on flat global cues.Nifty again will face resistance around 5070-5080 levels.Traders can book profits stock specifically those holding long since 25th Feb or trail the stops as per today's recommendations.
Buy Hindunilvr sl 237 Target 242 / 244
Buy ITC above 247 sl 243 Target 251
Buy M&M sl 1045 Target 1127 Positional
Buy Rcom above 164 sl 159 Target 174 Positional
Buy Relinfra above 1017 sl 1002 Target 1032
Buy SBIN sl 2009 Target 2064
Buy Lupin above 1530
Buy Ibrealest above 167 sl 163 Target 173
Buy TTML sl 22.5 Target 26.5 / 28 Positional
Buy Syndibank sl 87 Target 91
Buy Bajajhind above 165 sl 161 Target 170
Buy Litl sl 47 Target 51 Positional
Buy Yesbank sl 244 Target 257 / 263
Buy Ivrclinfra sl 326 Target 347 Positional
Buy Jaicorp above 253 sl 250 Target 260
Buy Riil sl 834 Target 852 / 867 Positional
Tatapower Trail sl 1314
Unitech Trail sl 73.5
HDIL Ref.03/03 sl 305 Reverse the position if closes below sl
Indhotel Ref.26/02 Trail sl 90 Target 97 / 100 Positional
OFSS Ref.03/03 Trail sl 2250
PFC Ref.25/02 Trail sl 252
Jindalswhl Ref.03/03 Trail sl 1683 Target 1750
Orbitcorp Ref.03/03 Trail sl 247 Target 247
Jetairways Ref.03/03 Trail sl 487
Sell ONGC sl 1109 1083
Here are stocks that are in news today:

Punj Lloyd Says:
UK Arm Simon Carves Levied~23.1 m Pounds Penalty
Simon Carves Levied Fine For~Order Execution Delay
Penalty As Ensus Bio-ethanol~Plant Execution Delayed
Bajaj Auto Says
Small Car Project With Renault On Schedule
Renault Talks With Others On Small Car Non-conflicting
Ashok Leyland:
Feb Total Sales At 7,869 Units~Vs 3,245 Units (YoY)
Sources Say:
IT Dept Raids Bhushan Steel And Bhushan Power & Steel
Bhushan Steel Says 'Not Aware Of Raid Ops'
CNBC TV18 Exclusive: P&G Says
Filed A Case Against Hindustan Unilever
Case Filed In Calcutta HC Against HUL's Rin Ad
Alert: HUL's Ad Campaign Compares Rin To Tide Natural
Ad Claims Rin Provides Better Whiteness
Other stocks and sectors in the news
Punj Lloyd gets LOI from CESC for Rs 1023 cr project
ITC ups cigarette prices by up to 17.6% - NW18
F&O cues:
Futures Open Int up Rs 2581 crore, Options Open Int up Rs 3834 crore
Nifty futures add 23 lakh shares in Open Int, at 7-point discount
Nifty Open Int PCR at 1.27 versus 1.24
Nifty Puts add 41 lakh, Calls add 22.5 lakh shares in Open Int
Nifty 5000 Put adds 18 lakh shares in Open Int
Nifty 5100 Put adds 11 lakh shares in Open Int
Nifty 5300 Call adds 10 lakh shares in Open Int
Stock futures add 1.7 cr shares in Open Int
FIIs in F&O on March 3
Net buy Rs 814 crore in Nifty futures
Nifty Futures Open Int up 19,342 contracts
Net buy Rs 1487 crore in Nifty options
Nifty Options Open Int up 30,678 contracts
Net buy Rs 638 crore in Stock futures
Stock Futures Open Int up 8,666 contracts
Global Updates :
The U.S. stock opened in positive after positive developments from Greece and encouraging U.S. economic data but ended marginaly in red as worries about bank regulation and a setback for drug company Pfizer offset signs of improvement in the labour market and services sector.Pfizer Inc, the world's largest drugmaker, fell 1.6% after its Alzheimer's drug did not meet the main goals of a late-stage clinical trial, weighing on the Dow industrials.The latest draft proposals to regulate the financial sector, including provisions to stop proprietary trading at banks, pressured financials, while investors worried over President Barack Obama's attempts to revive his healthcare overhaul.
The Dow Jones industrial average slipped 9.22 points, or 0.09%, to 10,396.76. The Standard & Poor's 500 Index gained 0.48 point, or 0.04%, to 1,118.79. The Nasdaq Composite Index lost 0.11 point to 2,280.68.
Stocks rose initially after the Institute for Supply Management's gauge of service sector activity and ADP's report on private employment pointed to a strengthening economy and a stabilizing labor market. The main focus for investors will be Friday's Labor Department data on unemployment in February.
That view of steady improvement was reinforced by the Federal Reserve, which said economic activity strengthened modestly across most of the 12 Fed districts during February, according to its Beige Book summary.
Signs the economy was improving helped cushion the S&P 500 as stocks in the materials sector gained along with rising commodity prices and a falling dollar. The S&P materials index added 1%.
Pfizer shares slipped 1.6% to USD 17.32 after the Dow component said its Alzheimer's drug, being developed with Medivation Inc, did not meet the main goals of a late-stage clinical trial. Medivation shares plummeted 67.5% to USD 13.10.
Obama said it is time to pass his sweeping healthcare overhaul using only a slim Democratic majority in Congress if necessary, saying the issue is too important to be delayed by politics after a year of debate.
Big pharmaceutical companies Merck & Co, down 0.5% to USD 37.21, and Pfizer were among the biggest drags on the Dow industrials. However, health insurers ended higher, with the Healthcare Payor index up almost 1%.
Adding to the market's jitters, draft language on the so-called "Volcker rule" from the Obama administration suggested US banks would be banned from proprietary trading and other large financial firms would face limits on such activity.
That news reignited fears of a tougher stance toward banks following talk proposed regulations would be watered down.
Financial company stocks lost ground, with the KBW Bank index down 0.4%. Goldman Sachs, which has a large proprietary trading business, fell 0.6% to USD 157.72.
Semiconductor stocks were also a drag on the market. The PHLX Semiconductor index fell 0.9%, with SanDisk Corp, down 2.1% to USD 31.80, among the biggest drags.
Informative :
Greece Deficit :
Recent comments made by top Greek officials seem to indicate the government's serious commitment its austerity measures.
Greece unveiled additional pay cuts and tax hikes on Wednesday that will cut its budget deficit by $6.54 billion this year.
There is also increasing speculation that the European Union is moving towards a rescue package for Greece. The cost of insuring its sovereign debt and the yields on its bonds fell Wednesday.
Greece's cabinet approved a sweeping new austerity programme on Wednesday. Following is a timeline of key economic events in Greece since George Papandreou's socialist PASOK party won 2009 snap elections.
Nov. 2009 - The new government pledges in its 2010 draft budget on Nov. 5 to save Greece from bankruptcy by cutting the 12.7 percent of GDP budget deficit -- more than double the previously announced figure -- while keeping electoral promises to help the poor.
A final budget draft on Nov. 20 shows Greece aims to cut the deficit to 8.7 percent of GDP in 2010 to show EU partners and markets it is serious about restoring fiscal health.
It also sees public debt rising to 121 percent of GDP in 2010 from 113.4 percent in 2009. EU forecasts on Greece for 2010 are worse, with the deficit seen at 12.2 percent of GDP and national debt rising to 124.9 percent, the highest ratio in the EU.
Dec. 2009 -- S&P on Dec. 7 puts the country's A- sovereign rating on negative watch.
On Dec 8, Fitch Ratings, which had cut Greece to A- when the government revealed the higher deficit, cuts Greek debt to BBB+ with a negative outlook, the first time in 10 years a ratings agency has put Greece below the A investment grade.
The next day, Papandreou says he is determined to win back the country's lost credibility.
On Dec. 14, Papandreou outlines policies to cut the country's ballooning budget deficit and try to regain the trust of investors and EU partners. Papandreou pledges a 10 percent cut in social security spending in 2010. Says he will abolish bonuses at state banks and slap a 90 percent tax on private bankers' bonuses. Promises a serious fight against corruption and tax evasion, calling them the country's biggest problems.
He announces a drastic overhaul of the pension system in six months and a new tax system that will make the wealthier carry more of the burden.
Standard & Poor's cuts Greece's rating by one notch on Dec. 16, to BBB-plus from A-minus, saying austerity steps announced by Prime Minister Papandreou are unlikely to produce a sustainable reduction in the public debt burden.
Yield spreads between Greek and benchmark German 10-year Bunds widen to an average 272 basis points on Dec. 19, the widest in more than 8 months, as sceptical markets continue to sell Greek government bonds and stocks. -- Moody's cuts Greek debt to A2 from A1 on Dec. 22 over soaring deficits, the third rating agency to downgrade Greece, but still two notches above that of Fitch and S&P. The spread between 10-year Greek and German Bunds tightens because the downgrade was less severe than expected.
Jan. 2010 - Greece unveils a stability programme on Jan. 14 saying it will aim to cut its budget gap to 2.8 percent of GDP in 2012 from 12.7 percent in 2009. Unions protesting against the austerity plan announce strikes for February.
Feb. 2010 - Papandreou says on Feb. 2 that the government will extend a public sector wage freeze to those making below 2,000 euros a month for 2010, excluding seniority pay hikes.
On Feb. 3 the EU Commission says it backs Greece's plan to reduce its budget deficit below three percent of GDP by 2012 and urges Greece to cut its overall wage bill.
Greece must refinance 54 billion euros in debt in 2010, with a crunch in Q2 as 20 billion euros becomes due. A 5-year bond issue in January is five times oversubscribed but the government has to pay a hefty premium.
A one-day general strike on Feb. 24 against the austerity measures cripples Greece's transport and public services but does not halt austerity measures.
An EU mission to Athens with IMF experts, deliver a grim assessment of the nation's economy on Feb. 25, seeing a deeper than expected recession and higher borrowing costs. Together these factors will make it even tougher to meet the targets.
A finance ministry official says the inspectors anticipate Greece can cut the deficit by about two percentage points, short of a 4 percentage point target for 2010. This will mean additional economy measures worth 4.8 billion euros.
March 2010 - Visiting EU Economic Affairs Commissioner Olli Rehn asks the Greek government on March 1 to announce further measures to tackle its budget crisis in the coming days.
A new package of public sector pay cuts and tax increases is announced by the government and will save an extra 4.8 billion euros ($6.5 billion). The measures include an increase of VAT by 2 percentage points to 21 percent, cutting public sector salary bonuses by 30 percent, increases in tax on fuel, tobacco and alcohol, as well as freezing state-funded pensions in 2010.
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Moneycontrol says : Greece's cabinet on Wednesday decided to take extra austerity measures totaling 4.8 billion euros (USD 6.49 billion) to ensure it meets key fiscal targets this year, a government source said.
"Measures which will yield 4.8 billion euros have been decided," the government official who took part in the cabinet meeting said. "Half will be from spending cuts and another 50% from tax increases."
The measures include an increase of value-added tax by 2 percentage points to 21% and trimming public sector salary bonusses by 30%, the source said.
U.S. Economic Data
A non-farm private payrolls decreased by 20,000 in February. The decrease is the lowest since February 2008.
The report eased investor sentiment ahead of Thursday's unemployment claims and Friday's unemployment rate and non-farm payroll change.
The Institute for Supply Management reported that the services sector grew for the second consecutive month. The reading beat the median forecast of economists according to Bloomberg and increased from last month.

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