30 Nov 2010 Daily Recommendations

3 Nov 2010 Morning Market Updates  08:41
Spot Nifty Levels :
Resistence : 5870/5940
Support : 5782/5740
Buy Apil Abv 860 sl 853 T 876
Hold Long Auropharma If closes abv 1263 sl 1240
Buy Bel Fut sl 1711 T 1752
Buy Bhel Abv 2168 sl 2149 T 2188/2212(P)
Buy Cumminsind Abv 776 sl 764 T 784/792
Buy HclTech Abv 398 sl 392 T 406
Buy Patni Abv 473 sl 468 T 484
Buy Relinfra in Dips (P)
Buy Wipro Abv 421 sl 415 T 428
Sell ACC Bel 971 sl 990 T 950/938(P)
Book Profits/Exit Long Bank Nifty Fut At 12000
Sell Niittech Bel 180 sl 185 T 168
Sell OFSS sl 2086 T 2008 (P)
Stocks that are in news today:

Results today: Bajaj Hindusthan, MIC Electronics
Public offers

MOIL IPO update: Subscribed 2.37 times (x); QIB 2.14x, retail 2.8x, HNI 2.4x, employee portion subscribed 0.13x
Shipping Corporation FPO opens today; price band Rs 135-140/share
CBI says exclusive
R Nair facilitated Rs 200 crore loan for DB Realty
Ramachandran Nair is former CEO, LIC Housing Finance
CBI says
Sanjay Sharma discloses having given Rs 50 lakh to MS Johar
Sanjay Sharma gave Rs 50 lakh to MS Johar in 5 installments
MS Johar is Central Bank of India Director (CA)
Kapil Sibal says
85 licensees to be issued notices
85 licensees to be given 60 days for response
S-Tel, Uninor, Loop, Videocon did not meet eligibility norms
TRAI to DOT: sources
Uninor licenses in Assam, NE, J&K, Haryana, MP, Punjab, HP, Rajasthan should be cancelled
Etisalat licenses in Delhi, Mumbai should be cancelled
Aircel licenses in Rajasthan, Haryana, Madhya Pradesh, Punjab should be cancelled
Sistema Shyam licenses in Gujarat, Punjab, UP-W, UP-E, MP, HP, Orissa, Assam, NE, J&K should be cancelled
Loop licenses in Maharashtra, Gujarat, AP, Karnataka, Tamil Nadu, Kerala, UP-W,UP-E, West Bengal, HP, Bihar, Assam, NE, J&K should be cancelled
Reliance Communications says
Welcomes referring Swan's cap structure & ownership to MCA
Doubts raised by CAG 'entirely incorrect & unjustified'
Fully compliant at all times with all applicable laws
Cease to be 9.9% shareholders of Swan before grant of license
No question of Swan Tele being a front co
Fertiliser Secretary says:
Seeking Rs 8,000-10,000 crore more subsidy for FY11
FY11 total fertliser subsidy seen between R5s 65,000-67,000 crore
Decision on urea price decontrol likely this fiscal
State companies contracted 8 mt DAP import this fiscal
M&M Financial Services to raise upto Rs 570 crore via QIP
Board approves raising FII limit to 40% from 35%
VK Sharma says
Customers, Investors need not worry about business growth
VK Sharma is new MD, CEO - LIC Housing Finance
VK Sharma says
New job a challenge, but an opportunity
Margins, credit growth target will not be hurt
Simbhaoli Sugar Q4
Sales at Rs 230 crore versus Rs 238 crore
Loss of Rs 39.2 crore versus profit Rs 23.5 crore
Consolidated for FY10
Sales at Rs 1261 crore versus Rs 706 crore
Loss at Rs 74.8 crore versus profit Rs 71.9 crore
Other stocks and sectors that are in news today:
Spice Mobility to buy Malaysia Co Beoworld: NW18
LN Mittal may be in talks to pick up stake in Ispat – ET (Ispat has agreed to sell 10% stake to Stemcor)
Gate eyes Patni, talks to Deutsche Bank, Apax for USD 600 million debt in leverage deal – TOI
Dewan Housing is the front-runner to acquire Deutsche Postbank for Rs 1100 crore – TOI
Dhanlaxmi Bank gets RBI nod to invest Rs 13 crore in Destimoney Securities, forming 15% of the equity
Sharad Pawar warns govt of targeting corporates – ET
Fortis Healthcare CEO quits – ET
Marathwada Refractories open offer at Rs 397/sh
REC approved a proposal for Foreign Currency Borrowings not exceeding USD 500 million
Satyam announces Global Partnership with Stratus Technologies'
F&O cues:

Total Nifty Futures' open interest (OI) was up by Rs 1,227 crore
Options' open interest up by Rs 3,763 crore
Stock Futures added 2 crore shares in OI
Nifty Futures premium at 15 points versus 28 points premium
Nifty Open Interest PCR was down at 1.23 from 1.26
Total Puts added 23.6 lakh shares in OI
Calls added 30.7 lakh shares in OI
Nifty 6300 Call added 7.2 lakh shares in Open Int
Nifty 5700 Put added 6.5 lakh shares in Open Int
Nifty 6200 Call added 4.8 lakh shares in Open Int
Nifty 5400 Put added 4.24 lakh shares in Open Int
Nifty 6000 Call added 3.9 lakh shares in Open Int
Nifty 5900 Call added 3.8 lakh shares in Open Int
FIIs in F&O on November 30 as per NSE

FIIs net buy Rs 698 crore in Index Futures
Index Futures OI up by 10,658 contracts
FIIs net buy Rs 668 crore in Index Options
Index Options OI up by 35,508 contracts
FIIs net buy Rs 526 crore in Stock Futures
Stock Futures OI up by 4,882 contracts
Market cues:

NSE F&O open interest was up by Rs 4,990 crore at Rs 1.23 lakh crore
FIIs were net sellers to the tune of USD 147 million while mutual funds were net buyers of Rs 235 crore in the cash market on November 26, as per data available on SEBI website.

FIIs were net buyers of Rs 156 crore and DIIs net buyers of Rs 199 crore in cash market on November 29, as per provisional data on NSE. FIIs were net buyers of Rs 1,823 crore in F&O market.
US Markets:
The US markets ended slightly lower, significantly off the session lows as financials gained. The dollar's movement and concerns about Europe's sovereign debt continued to worry investors.

The Dow Jones Industrial Average closed at 11,052.49, down 39.51 points or 0.36%. The Nasdaq Composite fell 9.34 points or 0.37% to settle at 2,525.22 and the S&P 500 Index ended at 1,187.76, down 1.64 points or 0.14%.
In data to watch, the S&P/Case-Schiller home price index for September is expected today.

Also, the consumer confidence numbers for November are expected to come today at 52. The reading for October came at 50.
European markets fell to a seven weeks low, after an 85 billion euro bailout for Ireland failed to allay fears of contagion.
The dollar rose against a basket of currencies as the euro sank to two-month lows, with more weakness expected as investors were left unimpressed with a rescue package for Ireland and remained fearful that another debt-burdened euro zone economy could be bound for a bailout. The greenback however gave up some of its gains in afternoon trade.
In other asset classes - oil prices surged as Europe's cold weather and hopes for better consumer demand lifted refined products futures. Geopolitical worries, meanwhile, offset the dollar's rise and fears the Ireland bailout plan might not keep Europe's debt woes contained.
In base metals, copper pared a rise to a one-week high as equities retreated after Ireland's bailout failed to ease concern about Europe's countries needing further aid.