9 April 2010 Morning Market Updates

9 April 2010 Morning Market Updates  08:46
Today market will open positive as other Global cues are trading in green areas.Nifty has support at 5280-5290 levels and resistance at 5340 level.Stock specific movement is expected.
Recommendations :
Buy BPCL Above 518

Buy DLF sl 326 Target 340
Buy Hcltech at declines
Buy Maruti Above 1414 sl 1403 Target 1431
Buy Corpbank sl 495 Target 515
Buy HDIL sl 295 Target 307
Buy Hindpetro Above 316 sl 311 Target 320 / 324
Buy Ibrealest Above 163 sl 160 Target 168
Buy Mphasis sl 646 Target 668
Buy Bajajhind Above 140 sl 136 Target 145
Buy Onmobile sl 396 Target 450 Positional
Buy Relinfra sl 1086 Target 1040 Positional
In our Portfolio we have bought NTPC and Rcom for 1 year
Sell Hindalco sl 179 Target 173

Hold Short Jindalstel Ref.08/04 Trail sl 706 Target 693

Hold Short LT Ref.08/04 Trail sl 1633 Target 1599

Hold Short M&M Ref.08/04 Trail sl 527 Target 512

Book profits JPAssociat Ref.08/04 Trail sl 150 Target 143

Sell ONGC sl 1076 Target 1047

Sell Ranbaxy sl 472 Target 457
Sell Sail sl 229 Target 242
Informative :
Cairn week  below 297
HDFC week below 2703
HDFCBank week below
ICICIBank week below 957
Relcapital week below 778
Reliance week below 1095
Stocks in News :
Shree Ganesh Jewellery lists today

Satluj Jal Vidyut Nigam Limited (SJVNL) IPO
-Govt sets April 29 as tentative date for SJVNL.
-SJVNL IPO to hit before SEBI's new listing rules kick in
-SJVNL RHP to be filed next week: Srcs
Govt to raise Rs 1,200 crore from 10% disinvestment in SJVNL
Cabinet today approved raising HP govt's stake in SJVNL to 25.50% from 25%
Cabinet increased offer for disinvestment from 41.09 crore to 41.50 crore shares.
Tata Motors update
-Land Rover UK sales are up 67% (YoY) at 11,300 vehicles
Highest monthly sales in company's 62 year history.
Steel Ministry Says:
-Both tranches of SAIL FPO to happen this fiscal
-To raise Rs 17,000 crore through SAIL FPO ((via 20%))
Mid-day Multimedia (Stock down 8%)
-Rakesh Jhunjhunwala sells 22.5 lakh shares (4.26% stake) @ Rs.31.69/share on NSE
Emaar MGF :
-Fund raising target from IPO will be revised downwards
-Will give out new figure in revised DRHP
-Looking at IPO within coming quarter
F&O cues:

Futures Open Int down Rs 713 crore
Options Open Int up Rs 2758 crore
Nifty futures shed 3.5 lakh shares in Open Int, at 2-point discount
Nifty Open Int PCR at 1.26 versus 1.32
Nifty Puts add 12.6 lakh share, Calls add 29 lakh shares in Open Int
Nifty 5200 Put adds 5 lakh shares in Open Int
Nifty 5400 Put sheds 2 lakh shares in Open Int
Nifty 5300 Call adds 18 lakh shares in Open Int
Stock futures add 1.6 crore shares in Open Int
FIIs in F&O on April 8
Net sell Rs 1408 crore in Nifty futures
Open Int down 13,000 contracts
Net buy Rs 1767 crore in Nifty options
Open Int up 64,641 contracts
Net sell Rs 638 crore in Stock futures
Open Int up 6,856 contracts
Market cues:

Global markets stable after yesterday's scare
FIIs were net buyers of USD 94 million in equities on April 7.
MFs were net sellers of Rs 147.7 crore in equities on April 7.
NSE F&O Open Int was up by Rs 2045 crore at Rs 1.20 lakh crore
As per provisional data of April 8, FIIs were net buyers of Rs 62 crore, while DIIs were net sellers of Rs 94 crore in cash markets. FIIs were net sellers of Rs 302 crore in F&O.
U S Market Updates :
US stocks snapped a two-day losing streak after retailers delivered their best sales numbers in a decade, reinvigorating confidence in the recovery.

Stocks had a weak start after a disappointing report on initial jobless claims, which rose against an expectation of a marginal drop.
Volume was light, with just over 8 billion shares changing hands on the three major exchanges, more than a billion less than usual.
At the end of the session, the Dow closed 29.55 points higher at 10,927, the S&P 500 closed at 1,186, while the Nasdaq ended 2,437,gained 5.65 points.





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