14 May 2010 Intraday Calls

14 May 2010 Morning Market Updates  08:49
Today market will open negative as global indices are trading weak.Nifty immediate support level is 5160-5165 and 5110.Stock specific rally expected.
Recommendations :
Buy Grasim sl 2610 Target 2663
Buy IDFC sl 164 Target 171
Buy Sunpharma sl 1560 Target 1608
Buy Mundraport sl 724 Target 773
Buy Nifty Above 5210 sl 5160 Target 5241 / 5272
Buy Acc Above 895 sl 885 Target 911
Buy Cairn Above 305 sl 301 Target 312
Buy DLF Above 308 sl 304 Target 312 / 315
Buy ICICIBank Above 934 sl 922 Target 947
Buy Infosystch Above 2712 sl 2695 Target 2751
Buy JPAssociat Above 135 sl 134 Target 139
Buy LT Above 1582 sl 1569 Target 1602
Buy Maruti Above 1287 sl 1275 Target 1305
Buy HDIL Above 260 sl 254 Target 270
Buy OFSS Above 2120 sl 2100 Target 2140
Buy Apil Above 597 sl 590 Target 605

Sell HDFCBank Below 1949 sl 1966 Target 1928
Sell Herohonda Below 1887 sl 1902 Target 1863
Sell Bankbaroda Below 691 sl 702 Target 678
Sell Colpal Below 734 sl 740 Target 726

Stocks in News :
Results Today: DLF, SBI, Nalco, Adani Enterprise, Asahi India, Bhushan Steel, Deccan Chronicles, Electrosteel Cast, Euro Ceramics, Federal Bank, Hindustan Cop, ICI India, Mcnally Bharat, Kirloskar Oil, Shiv Vani Oil, Sujana Towers, Videocon Inds, TRF, Tanla Solutions




Results tomorrow: Reliance Comm, Reliance Infrastructure, Reliance Power, RNRL ((almost entire ADAG pack))





Aban Offshore update

-Aban Pearl sinks in Caribbean

-Aban Pearl was Aban’s only semi-sub and a significant revenue generator

-FY11 revenue loss of USD 120 million likely



Idea on TRAI recommendations

-Do not advance objectives of govt expert committee report

-Telecom sector deserves new deal

-Telecom sector showing signs of crony capitalism



ISMA - CNBC-TV18 exclusive

-ISMA meeting held at New Delhi yesterday

-Discussion on import duty between 20-60% on white sugar

-Likelihood of no import duty on raw sugar

-Final call to be taken by cabinet in around 3 weeks



Tata Power notifies state govt on Mumbai power distribution issue

Tata Power to Maharashtra Govt

-Does not accept the order of Maharashtra Govt Committee

-To honour 100 MW PPA with BEST and 160 MW with TPC – D

-To provide only 200 MW to Reliance Infrastructure till June 30



Reliance Infrastructure Says

-TPC's offer of Rs 5.90/unit for suburban consumer vidicates our stand

-Tata Power want to profiteer at the expense of Mumbai consumer



MTNL Q4 (cr -crore, vs - versus)

-Net sales at Rs 848.3 cr vs Rs 902.2 cr (QoQ)

-Net loss at Rs 1,573.7 cr vs net loss of Rs 894.9 cr (QoQ)
Gammon India Q4


-Net sales at Rs 1,667.7 cr vs Rs 1,905.8 cr (YoY)

-Net profit at Rs 54.7 cr vs Rs 72.6 cr (YoY)



Parsvnath update

-IT Dept initiated search action against Parsvnath: Srcs

-Search operation ongoing at multiple locations: Srcs

-Locations include office & residential premises: srcs

-Search conducted on allegations of tax evasion: srcs





Other stocks and sectors that are in news today:

-HSBC InvestDirect promoters accept delisting price of Rs 400/share

-Drug majors may get easier access to Japan’s USD 60 million market, Tokyo likely to offer “national treatment” to Indian generic firms – BL

-Shree Salasar open offer at Rs 15/sh

-Viacom Media 18 set to launch Bollywood channel – Mint

-Tech companies Infosys, Mahnindra Satyam and Cognizant in race for USD 250 million UK deal

-HDFC extends teaser loan rates till June 30

F&O cues:




- NSE F&O Open Interest was up by Rs 3516 crore at Rs 1.28 lakh crore.

- Nifty Futures Open Interest up by Rs 789 crore

- Nifty Options Open Interest up by Rs 2727 crore

- Nifty Futures added 8 lakh shares in Open Interest

- Nifty Futures ended at 6-point discount

- Nifty Open Interest PCR at 1.19 versus 1.13

- Nifty Puts added 42 lakh shares in Open Interest

- Nifty Calls added 9 lakh shares in Open Interest (OI)

- Nifty 5000 Put added 14 lakh shares in Open Interest

- Nifty 5100 Put added 6.5 lakh shares in Open Interest

- Nifty 5200 Call added 3.7 lakh shares in Open Interest


US Markets :
U.S. stocks fell Thursday, led by the consumer-discretionary sector as earnings guidance and results from retailers Kohl's and Urban Outfitters disappointed. In addition, a forecast from Cisco Systems failed to improve investor sentiment toward technology.

The Dow Jones Industrial Average fell 113.96 points, or 1.05%, to 10782.95,while Nasdaq Composite fell 30.66, or 1.26%, to 2394.36