31 Dec 2010 Daily Recommendations

31 Dec 2010 Morning Market Updates  08:50


Daily Recommendations :


Hold Long Nifty Jan Fut sl 6092

Buy Bankindia Abv 440 sl 436 T 447
Buy Bharatforg Abv 377 sl 373 T 382/385
Buy Pateleng Abv 309 sl 303 T 320
Buy Sintex Abv 182 sl 179 T 185/188
Buy Ultracemco Abv 1076 sl 1067 T 1098
Sell ABB sl 792 T 771
Sell Reliance Bel 1044 sl 1052 T 1036/1028
Sell Wipro Bel 487 sl 491 T 480

Stock in News :
SBI board approves raising Rs 10,000 crore

-SBI says to raise funds via retail bonds by end of next fiscal
Public offers

-Hindustan Copper FPO likely at 72% discount – ET
-Tata Autocomp IPO soon
-C Mahendra Exports IPO opens today; closes on Jan 6; to raise Rs 142.50-165 cr; price band Rs 95-110/share
RBI releases 2nd financial stability report
-RBI says banks' asset quality continues to warrant monitoring
-Inflation continues to rule at elevated levels
-Fiscal position still under pressure
-Stressed liquidity conditions warrant caution
-Growing offshore rupee market constrains policy actions
-Efficacy of interest rate corridor needs to be improved foreign banks' offshore -B/S
-Exposure warrants monitoring proposed cap rules unlikely to stretch banking
-System tests show banks reasonably resilient to macro strains
November infrastructure sector growth 2.3% versus 5.9% (YoY)
-April-November infrastructure sector growth 5% versus 4.5% (YoY)
-DoT has track record of colluding with telcos
-Place DoT’s notices to 2G telcos in public domain
-Corporate wars are symptom & not the cause
-Don’t make telecom policy only about corporates
-Include citizens in telecom policy making
-Rid DoT of lobbyists & wheeler dealers
-TRAI’s independence needs to be strengthened
-Prepared to assist DoT in cleaning the mess
-Sibal has acknowledged Chandrasekhar’s letter
Reliance ADA group drops ADA from master brand - CNBC-TV18 Exclusive
-ADAG Master Brand now only RELIANCE
-New Brand ID rollout this month
-All group services to be under RELIANCE brand
-Individual service name goes out of logo
Sanjay Behl to CNBC-TV18
-'Everything now only RELIANCE'
Sahara India Pariwar acquires Hotel Grosvenor House in London
-Grosvenor Hotel now owned by Aamby Valley
Sahara India says
-Acquisition part of Sahara's expansion plans
-Grosvenor House to be gateway for group's new international business venture
Other stocks and sectors that are in news today:
-Dwarikesh Sugar divests 60% stake in its wholly owned subsidiary Faridpur Sugar
-Cabinet okays NTPC plans to buy power equipment
-Sun Pharma gets tentative US FDA nod for Generic Boniva
-JSW Energy starts commercial operations of second 300 MW unit at Ratnagiri
-Corporation Bank revised Base Rate for lending from 8.25% p.a. to 8.90% p.a. with effect from January 3
-Selan Exploration - Ex bonus 1:10
F&O cues:
Market-wide rollover 75% versus % 80% in last series
Nifty rollover at 61% versus 75% in last series
Strong Rollovers: Engineering (91%) and Telecom (87%)
Weak Rollovers: FMCG (80%) and Textiles (79%)
Nifty Open Int PCR at 1.35 versus 1.32 at start of Dec series
Highest Open Int outstanding at 6000 Put, 5800 put, 5600 put, 5900 put, 6200 call
Nifty 6100 Put adds 13.6 lakh shares in Open Int
Nifty 6000 Put adds 10.4 lakh shares in Open Int
Nifty 6100 Call adds 7.5 lakh shares in Open Int
Nifty 6200 Call adds 4.7 lakh shares in Open Int
Nifty 6400 Call adds 4 lakh shares in Open Int
Nifty 6300 Call adds 3.8 lakh shares in Open Int
FIIs in F&O on Dec 30
FIIs net buy Rs 507 crore in Index Futures
FIIs net sell Rs 542 crore in Index Options
FIIs net buy Rs 247 crore in Stock Futures
January series will start with total future Open Int of Rs 49,142 crore, lowest in the last seven months.
FIIs net buy USD 134 million in the cash market on Dec 29

MFs net sell Rs 233.6 crore in the cash market on Dec 28
As per provisional data of December 30, FIIs were net buyers of Rs 2186 crore in the cash market. FIIs were net buyers of Rs 184 crore in the F&O market. DIIs were net sellers of Rs 848 crore in the cash market.

US Market Updates :
Stocks slipped on profit-taking amid thin volumes Thursday. With one trading day left in the year, all three major U.S. equity indices are on track for double-digit percentage gains for 2010. The Dow Jones Industrial Average shed 14 points, or 0.1%, to finish at 11,571. The S&P 500 lost 2 points, or 0.2%, to close at 1,258, while the Nasdaq Composite settled down by 4 points, or 0.2%, at 2,663.
Volume has been sparse during the final trading week of the year as firms work to close their books for 2010. Thursday's session was no exception with only 507 million shares trading on the New York Stock Exchange and 1.1 billion shares changing hands on the Nasdaq.



Mild profit-taking took hold in Thursday's action as traders locked in gains from December impressive rally. The Dow has appreciated roughly 11% this year with 5.3% of that rise coming this month. The S&P 500 is on pace for a 2010 gain of 13%, while the Nasdaq Composite has risen roughly 18% year-to-date, and both have seen similar surges in December.


Advancing stocks outnumbered decliners as 55% of stocks traded in positive territory and 42% slipped below the flatline. Conglomerates were under the most pressure, while home builders got a lift from a positive read on pending home sales. Within the Dow, American Express(AXP), DuPont(DD) and Pfizer(PFE) were the biggest laggards while, Alcoa(AA), Intel(INTC) and Chevron(CVX) showed the strongest performance. Breadth was negative with 23 of the 30 blue-chip components moving lower.
Thursday did see the release of a fair amount of data for investors to mull over. The Energy Information Administration said crude oil inventories fell by 1.3 million barrels in the week ended Dec. 24, which was a milder than the decline of 3.2 million barrels that analysts polled by Platts had been anticipating. The February crude oil contract lost $1.28 to settle at $89.84 a barrel.
Also the Labor Department said initial jobless claims fell to their lowest level since July 2008, shedding 34,000 to 388,000 in the week ended Dec.25. The drop exceeded Wall Street's expectations for a decline of 4,000, to 416,000, according to Briefing.com.



Disclaimer :



This blog has been prepared by the Research Division of Integrity Financial Consultants Pvt. Ltd.(IFCL),Pune, India and is meant for use by the recipient only as an informative. Nothing on this blog/website is intended or should be construed as investment advice. It is intended to be used for informational purposes only. This document is not to be reported or copied or made available to others without prior permission of (IFCL). It should not be considered or taken as an offer to Buy or Sell or a solicitation to Buy or Sell any security. These views alone are not sufficient and should not be used for the development or implementation of an investment strategy. It should not be construed as an investment advice to any party. All opinions and estimates included here constitute our view as of this date and are subject to change without notice. The information contained in this report other than the recommendation(s) has been obtained from sources that are considered to be reliable. However, iNTEGRITY has not independently verified the accuracy or completeness of the same. Neither iNTEGRITY nor any of its affiliates and/or its business associates and/or its directors and/or its employees accept any responsibility of whatsoever nature for the information, statements and opinion given, made available or expressed herein or for any omission therein. Recipients of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well as the market related investments are subject to market risk and volatility. The suitability or otherwise of any investments will depend upon the recipient's particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor. Either (IFCL) and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives may have position(s), make market, act as principal or engage in transactions of securities of companies referred to in this report and they may have used the research material prior and / or after to publication. The information shared in this blog may be and or may not be 100% perfect as it is being shared from many sources. iNTEGRITY and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives do not take any type of responsibility if reader or recommendation(s) follower will face any losses or liabilities because of our recommendations; market risk will be always there while and whenever concerned parties enter the stock market by any means.It is recommended for the recipients to take their decisions according to re-verification of the shared information. No arguments and / or claims and / or objections will be entertained. Similarly, iNTEGRITY and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives will not take any assurity about our given recommendation(s) about its success. Sole discretion will be most recommended for readers and/or subscribers and/or followers and/or information receivers and/or investors and/or traders.