9th March 2010 Morning Morning Updates

9th March Morning Update:
Market will open flat today as Asian were mixed and marginal up.Nifty has a resistance at 5170 levels and immediate support at 5010 level.Banknifty has a resistance at 9240 level.We recommend to book profits in index futures.
Recommendations :

Buy Gail above 417 sl 411

Buy Itc sl 249 Target 255
Buy Bankindia sl 341 Target 352
Buy MRPL sl 77 Target 81
Buy RIIL above 870
Hold Long ABB Ref.22/02 Trail sl 832
Hold Long Dlf Ref.08/03 Trail sl 810
Book full profits Jindalstel Ref.24/02
Book profits JPAssociat Ref.05/03
Book profits M&M Ref.04/03 Trail sl 1090 Target 1140
Hold Long Powergrid Ref.26/02 Trail sl 109 Target 112
Hold Long Rpower Ref.03/03 Trail sl 143 Target 148
Book profits HDIL Ref.04/03
Hold Long Ibrealest Ref.04/03 Trail sl 170 Target 181
Book profits LICHSGFIN Ref.02/03 Trail sl 799 Target 845
Hold Long Orbitcorp Ref.04/03 Trail sl 250 Target 278 / 293 T1,T2 reached
Sell Hindunilvr sl 240 Target 235
Sell Jaicorpltd sl 252 Target 239
Sell Ranbaxy below 453 sl 466 Target 444
Sell Axisbank below 1099
Sell Cairn below 266
Sell Reliance below 996 closing
Sell Relinfra below 1009
Sell TCS below 756 closing
Stocks that are in news today:

Daimler Chrysler AG To Sell 5.34% Stake In Tata Motors: Srcs
To Sell Up To 2.55 Cr Shares: Sources
Issue Price Of Block Deal At Rs 737.42-761.30/sh
Daimler To Get Between Rs 1886-1948 Cr Via Stake Sale
Citi Sole Banker To Tata Motors Block Deal: Sources
Bank of Rajasthan update: SEBI says
BoR Referred By RBI Post Annual Financial Inspection
There is sufficient evidence prima facie to indicate fraud by BoR promoters
NSDL & CDSL are directed to freeze accounts of 18 entities
Bans 100 entities from transacting in securities market
BoR made incorrect disclosure of promoter shareholdings
BoR Promoter Group Led By Pravin Kumar Tayal
BoR Promoters Disclosed to RBI Decline in Shareholding
BoR Promoters hiked stake simultaneously through surrogate acquisition
RBI provided details of movement of funds from the Tayal group
RBI termed these Cos as front companies of the Tayal group
India Cements QIP Book Launched: Sources
India Cements To Raise $40-75 m Via QIP: Sources
India Cem QIP Priced At Rs 120.20/share: Sources

RBS, Deutsche Bank are Bankers To India Cements QIP: Sources
Exide Ind Launches QIP book
Exide planning to raise around $120m
QIP issue priced at Rs 107.90/sh
Enam, DSP Merrill bankers to the QIP
Other stocks and sectors in the news
NMDC FPO price band fixed at Rs 300-350/sh, represents discount of 14.8%-25.3%
Indowind Energy: Board meets on March 18 to consider the term loans sanctioned by the banks
Sujana Towers: Management Committee approved conversion of 60 lakh warrants into equity shares at Rs 55/sh (CMP 54)
SE Investments: opens GDRs up to $ 40 m on March 08
SEL Manufacturing: planning to set up a spinning unit in MP for an investment of Rs 800 cr ((Chakri counter))
ICICI Bank sells Prabhadevi property to rationalize costs
GVK plans to invest Rs 4500 cr in BIAL, also plans to buy Siemens’s stake
F&O cues:

Futures Open Int up Rs 1,025 crore
Options Open Int up Rs 2,852 crore
Nifty futures add 6 lk shrs in Open Int, at 6.5 pt disc
Nifty Open Int PCR at 1.35 versus 1.32
Nifty Puts add 33 lk shrs in Open Int
Nifty Calls add 14 lk shrs in Open Int
Nifty 5000 Put adds 10 lk shrs in Open Int
Nifty 5200 Put adds 10 lk shrs in Open Int
Nifty 5100 Put adds 8 lk shrs in Open Int
Nifty 5200 Call adds 8.5 lk shrs in Open Int
Stock futures add 0.8 cr shrs in Open Int
FIIs in F&O on March 8
Net buy Rs 287 crore in Nifty Futures
Net buy Rs 495 crore in Nifty Options
Net buy Rs 168 crore in Stock Futures
US Markets :
It was a flat finish for US stocks. Listless and lackluster action kept participants on the sidelines as stocks consolidated their recent gains. In a tepid trading session, only 900 million shares exchanged hands on the NYSE in what was this year's second-smallest level of volume. Advancers outpaced decliners in a 3 to 2 ratio.

In stocks in news, McDonald's was among the biggest gainer on Dow after it reported its same-store sales rose 4.8% in February. Cisco too gained nearly 4% after JP Morgan started coverage of the stock with an "overweight" rating.
From the financials space, AIG rose after the insurer agreed to sell its foreign life insurance unit to MET Life for around 15 billion dollars in cash and stock.
And another talking point in the market was a survey by the national association of business economists, which showed that most expected the FED to hike rates within six months by between a quarter and a half percentage points.

At the end of Monday's session, the Dow closed flat at 10,552, the S&P 500 closed at 1,138 while the Nasdaq too shut flat at 2,332.
In the Forex market, The euro shed gains against the dollar after the Greek prime minister warned that if the Greek crisis worsened it could lead to a new global financial meltdown. The euro has lost nearly 5% against the dollar so far this year. The dollar index is currently trading above the 80 mark.
Crude shed some weight after touching an eight-week high above USD 82, but is off the lows of USD 80.75.
In metals, copper prices fell on speculation that demand will stagnate in China, the world's biggest metals user. In other metals, zinc prices rose while nickel and tin too shed weight
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