11 Oct 2010 Daily Recommendations

11 Oct 2010 Daily Recommendations :
FYI
Follow Sell Recommendations in Negative mkt bias.
Buy:
Adanient sl 675 T 709/744 P
Concor Abv 1340 sl 1311 closing T 1380 P
Emphasis Abv 668 sl 657 T 698 P
Sell:
ICICIBank sl 1132 T 1110
M&M sl 712 T 682 P
Relinfra sl 1084 T 1051
Corpbank Sell on Rise
Renuka sl 84.75 T 78
ACC Bel 1014 sl 1022 T 1004
Axisbank Bel 1540 sl 1550 T 1525
Infosystch Bel 3051 sl 3073 T 3019
NTPC Bel 214 sl 216 T 211
Siemens Bel 807 sl 818 T 796 P
JSWSteel Bel 1325 sl 1346 T 1305/1294
Kotakbank Bel 493 sl 499 T 485
Hold Short LICHSGFIN Bel 1401 sl 1418 T 1374
Unionbank Bel 387 sl 393 T 381
Titan Bel 3302
Here are stocks that are in news today:

Results Today: CMC, IndusInd Bank, Praj Ind, Sintex Ind
Gallant Ispat to list today (no grey market prem)

-Issue price at Rs 50/share
-Raised Rs 40.5 crore;
-Total Subscription: 1.44 times (X)
Oberoi Realty IPO
-Overall subscribed 12x; QIB 22x, Retail 1x, HNI 3.6x
Hindustan Motors:
-Write off Rs 3.17 crore
-Reducing the paid up value from Rs 10 to Rs 5
Power Min - CNBC TV18 exclusive
-Power Ministry protests environment spanner on North East hydro projects: Sources
-Power Ministry strongly defends NHPC power plans in NE: Srcs
-90% of 30,000 Mw planned hydro capacity in NE: Power Min Srcs
Alert: Jairam Ramesh concerned on NE projects, writes to PM
-Will raise concerns at meeting chaired by PM: Power Min Srcs
Alert: PM to chair inter-Min meet on October 13 on NE Hydro plants
-Concerned over delays in environment nod on NE project: Power Min Srcs
-Detailed appraisals for NE projects from environment angle: Power Min Srcs
-Environment studies to take at least 1-2 years: Power Min Srcs
-Foresee no problems for operational plants in NE: Power Min Srcs
-Concerned over NHPC’s 2000 Mw Subansiri plant: Power Min Srcs
NTPC
-To set up 2640 MW power project in Punjab
-NTPC signs MOU with Punjab State Power for Thermal Project at Gidarbaha
ONGC - from PTI
-Russia disqualifies ONGC bid for oil fields
-Russia disqualifies ONGC bid for Trebs, Titov Oilfields
Oil Minister to CNBC-TV18:
-Met Bill Gammell on Thursday on Cairn-Vedanta deal
-Law Ministry to shortly give its views on Cairn-Vedanta deal
-Undecided on when diesel will be deregulated
Oil Secretary To CNBC-TV18:
-No delay from govt's side on Vedanta deal
-Due process being followed to clear Cairn-Vedanta deal
Spice Jet says
-In the next 8-10 months will look at increasing frequencies of our international flights
-Will initially focus on existing routes
-Will look at connecting Colombo from Delhi & Bangalore
-Will launch a Kathmandu-Delhi flight on November 26
-By the end of the year our fleet size will increase from 22 to 27 aircraft
-By 2013, fleet size will reach 47 aircrafts
-Have placed an order for 13 Boeing aircrafts, delivery to begin from 2014 -International operations to contribute 10-12% to topline in a years time
-Open offer should open in the next 10- 15 days
F&O cues:
Futures Open Int up Rs 365 crore
Options Open Int up Rs 3179 crore

Nifty Futures add 16.5k shares in Open Int
Nifty Futures at 30-pt prem versus 26-pt prem
Nifty Open Int PCR at 1.30 versus 1.27
Nifty Puts add 31.7 lakh shares in Open Int
Nifty Calls add 8.4 lakh shares in Open Int
Nifty 5700 Put adds 8.6 lakh shares in Open Int
Nifty 6200 Call adds 6 lakh shares in Open Int
Nifty 6000 Put adds 5 lakh shares in Open Int
Nifty 6100 Put adds 4.8 lakh shares in Open Int
Nifty 6400 Call adds 4.7 lakh shares in Open Int
Nifty 6500 Call shed 8.2 lakh shares in Open Int
FIIs in F&O on October 8
FIIs net sell Rs 321 crore in Index Futures
FIIs net buy Rs 498 crore in Index Options
FIIs net sell Rs 1036 crore in Stock Future
Market cues:

FIIs net buy USD 384.1 million in equities on October 7
Dow closed above 11,000 for 1st time in 5 mths

Jobs data disappoints; talks of further QE
Results season kicks off this week
NSE F&O Open Int was up by Rs 3545 crore at Rs 1.6 lakh crore
As per provisional data of October 8, FIIs were net buyers of Rs 586 crore; DIIs were net sellers of Rs 1002 crore in cash market. FIIs were net sellers of Rs 944 crore in F&O.
US Markets:
The Dow closed above the 11,000 mark for the first time in five months on Friday as a surprisingly weak jobs report strengthened the case for more stimulus from the Federal Reserve.

While a loss of 95,000 jobs normally might be expected to hurt stocks, the market's desire for cheap money trumped concerns about the slow economy.
"It was almost as if the market was cheering for a bad report to try to solidify that the Fed would engage in quantitative easing," said Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors in St. Louis.

Agriculture-related shares surged in sync with US corn and soybean futures after the US Department of Agriculture said the corn crop is likely to be far smaller than expected. Caterpillar rose 2.1 percent to USD 80.37 and gave the biggest boost to the Dow industrials.
A construction and farm machinery sector index rose 2.6% on the belief US grain farmers will use some of their profits from higher crop prices to buy new tractors and harvesting equipment.
Deere & Co shares climbed 4.8% to USD 75.35. Agco Corp jumped 3.6% to USD 40.63.
Stocks have rallied in recent weeks on expectations of further government stimulus, but earnings season will take center stage next week. Corporate results and guidance could provide confirmation for the gains or suggest investors were blindly chasing performance.
Expectations of more quantitative easing could also keep the US dollar on a downtrend, which in turn signals more gains for Wall Street. An inverse correlation between the greenback and US stocks has prevailed in the last three months.
The Dow Jones industrial average gained 57.90 points, or 0.53%, to close at 11,006.48. The Standard & Poor's 500 Index rose 7.09 points, or 0.61%, to 1,165.15. The Nasdaq Composite Index climbed 18.24 points, or 0.77%, to 2,401.91.
It was the first time the Dow closed above 11,000 since May 3.
For the week, the Dow added 1.6%, and so did the S&P 500, while the Nasdaq rose 1.3%.
RALLY ON PENNEY LANE
Consumer discretionary companies got a boost after hedge fund manager William Ackman took large stakes in shares of retailer JC Penney Co Inc and consumer goods manufacturer Fortune Brands Inc. JC Penney rose 2.7% to USD 32.49, while Fortune jumped 7.4% to USD 55.85.
Alcoa Inc marked the unofficial start to earnings season, rising 5.7% to USD 12.89 a day after its results beat estimates and increased its outlook for global aluminum demand.
Data showed the economy shed jobs in September for a fourth straight month as government payrolls fell and private hiring slowed. Although initially taken as a negative, investors ultimately viewed the gain of 64,000 private-sector jobs as the economic cloud's silver lining, analysts said.
The expectation of further stimulus was also weighed against comments from St Louis Fed President James Bullard, who said the Fed faces a difficult decision at next month's policy meeting on whether to offer further stimulus to a US economy that is still growing but only slowly.
"I think he said it's not in the bag that we're going to do this," Marcouiller said.
As the drop in the government's non-farm payrolls report increased the likelihood of more quantitative easing by the Fed, the dollar weakened while commodity prices rose.
The Reuters Jefferies CRB index, which covers 19 mostly US-traded commodities, rose 2.7%.
Freeport-McMoRan Copper & Gold Inc gained 4.5% to USD 95.51, while the S&P Materials index shot up 2%.
Options traders also remained confident about the market as the volatility index continued to slide. The CBOE Volatility index, Wall Street's favorite fear gauge, fell 3.9% to 20.71, the lowest since May.
On the Nasdaq, Apple gained 1.7% to USD 294.07 after BofA Merrill Lynch and Oppenheimer raised their price targets on the iPhone and iPad maker's stock.
About 7.23 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq -- well below last year's estimated daily average of 9.65 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of slightly more than 3-to-1, while on the Nasdaq, more than two stocks rose for every one that fell.
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