12th March Morning Updates

12 March 2010 Morning Updates 08:50
Market may open in negative and may face volatility.Nifty resistance at 5145 and support at 5070
Recommendations:
Follow Buy calls in positive market bias and v.v.

Buy HCLTech above 363 sl 357 Target 370

Buy Techm above 917 sl 909 Target 927
Buy Jyotistruc sl 164 Target 179
Buy Tricom sl 14.7 Target 18
Buy Dbcorp above 242 sl 237 Target 249


Sell Gold sl 1642 Target 1614 / 1606
Sell Bhel below 2401 sl 2424
Sell Hindalco Ref.10/03 sl 162 Target 155
Sell Idea below 60 sl 61 Target 58
Sell Powergrid sl 108 Target 104
Sell Rcom sl 162 Target 157
Sell Unitech below 73.2 sl 75 Target 72 / 70
Sell Abirlanuvo below 842
Sell Bajajauto below 1818 sl 1826 Target 1794
Sell Bankindia below 336
Sell HDIL below 306 sl 310 Target 304 / 298
Sell Mundraport below 685 sl 694 Target 675 / 664
Sell Videoind below 228 sl 232 Target 223 / 221
Sell Jindalswhl below 1680 sl 1700 Target 1660 / 1637
Sell Ivrclinfra below 325 sl 329 Target 318
Sell Bartronics sl 157 Target 151
Sell Voltamp below 852 sl 863 Target 836
Sell NDTV below 127
Stocks that are in news today:

IPO corner:
NMDC FPO (closes today)
Total subscription at 0.79 times (X)
QIB at 1.556X, NII at 0.006X, Retail at 0.028X, Employee at 0.04X
IL&FS Transportation Networks (March 11-15th)
Total subscription at 0.34X
QIB at 0.638X, NII at 0.0137X, Retail at 0.0288X
Pradip Overseas(March 11-15th)
Total subscription at 2.11X
QIB at 1.085X, NII at 7.055X, Retail at 1.74X, Employee at 0.0132X
Sun Pharma
Sun Pharma launches Eloxatin injections generic via US arm Caraco
Eloxatin used for treating Colon, Rectal Cancer
Eloxatin has annual sales of USD 1.3 bn in US
Bank Of Rajasthan
Receives shareholder nod for QIP
To raise funds up to Rs 250 crore via QIP; to be completed in next 3 months
Praveen Kumar Tayal & Group companies are promoters of bank
Sicagen India
Denmark-based over USD 12-billion facility management company ISS is acquiring a majority stake in security services firm SDB Cisco for close to Rs 150 crore
SDB Cisco is a 60:40 joint venture between Sicagen India and Certis Cisco
Sulzer India
Net sales at Rs 111.3 crore versus Rs 37.7 crore
Net profit at Rs 26.5 crore versus Rs 3 crore
Other stocks and sectors that are in news today:
Triveni board meet today for the demerger of Company's steam turbine business into a wholly owned subsidiary
DoT analysing special audit findings on Bharti Airtel: CNBC-TV18 Exclusive
Bajaj family to hike stake in holding company to 50% - Mint
JEF to buy 10% stake in JSW Steel – FE
Mahindra Satyam bags USD 48 million contract from a Danish IT company
Maruti Suzuki says Nissan to buy 35,000 A-Stars from company in FY11
Phillips Carbon board approves raising upto Rs 200 crore via QIP
F&O cues:

Futures Open Int down Rs 77 crore, Options Open Int up Rs 2599 crore
Nifty futures shed 9 lakh shares in Open Int, at 14-point premium
Nifty Open Int PCR surges to 1.50 versus 1.39
Nifty Puts add 50 lakh shares in Open Int
Nifty Calls shed 4 lakh shares in Open Int
Nifty 5000 Put adds 19 lakh shares in Open Int, total Open Int at 1.21 crore shares
Nifty 5100 Put adds 13 lakh shares in Open Int
Nifty 5300 Call adds 4.9 lakh shares in Open Int
Nifty 5100 Call sheds 9 lakh shares in Open Int
Stock futures ad 0.9 crore shares in Open Int
FIIs in F&O on March 11
Net buy Rs 946 crore in Nifty Futures
Nifty Futures Open Int down 10,303 contracts
Net buy Rs 335 crore in Nifty options
Nifty options Open Int up 43,039 contracts
Net sell Rs 308 crore in Stock futures
Market cues:

IIP data is going to be release today
FIIs were net buyers of USD 92.1 million in equities on March 10
NSE F&O Open Int was up by Rs 2,522 crore at Rs 1,17,361 crore
As per provisional dat of March 11, FIIs were net buyers of Rs 305 crore and DIIs were net sellers of Rs 203 crore in cash markets. FIIs were net buyers of Rs 970 crore in F&O.
US Markets :
Dow Jones : 10611.84 (+44.51) 0.42 %
Nasdaq : 2368.46 (+9.51) 0.40%
Mr.Pandit's statement supported US markets today.The number of U.S. workers filing new claims for unemployment benefits fell only slightly last week, indicating a sluggish return to jobs growth. The Commerce Department said the U.S. trade gap shrank 6.6 percent to $37.3 billion in January as oil imports fell to their lowest since February 1999. Exports declined too. Analysts had expected the deficit to widen to $41.0 billion..US market initially fell on the claims data and worries a jump in Chinese inflation to a 16-month high could prompt Beijing to take steps to prevent the economy from overheating.But bullish comments from Citigroup's chief executive boosted the financial sector, which led a modest gain in the market.Trading in Citigroup represented almost one-fourth of the market's overall volume, the third consecutive day it has benefited from renewed bets that the effects of the financial crisis are waning on Wall Street. On Thursday, Citi shares were up 4%, helped by remarks from CEO Vikram Pandit, who forecast at a Citi financial-services conference that the bank's returns on assets in its core businesses would grow slightly this year.

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