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Wednesday, September 22, 2010

Daily Fundamental Report - Sep 23 2010

Daily Fundamental Report - Sep 23 2010

Daily Technical Report - Sep 23 2010

Daily Technical Report - Sep 23 2010

Post Market Review - Sep 22 2010

After relentless run of past couple of sessions, it was the day of consolidation as benchmark indices closed lower by nearly a third of a percent after a choppy trade. European markets, after a positive opening, slipped in the red and were trading down by about two third of a percent. BSE Mid-cap and Small-cap indices lost 0.4% and 0.2% respectively. US stock indices futures were marginally in the red ahead of data on Consumer Confidence, Mortgage Application and House price index.

Nifty September 2010 futures below 6000

Turnover declines

Nifty September 2010 futures were at 5994, at a premium of 3 points compared to spot closing of 5991. Turnover in NSE's futures & options (F&O) segment declined to Rs 1,54,103.20 crore from Rs 1,56,526.36 crore on Tuesday, 21 September 2010.

Asian markets end mixed in thin trading

Fed keeps the door open for more quantitative easing in the near term, dollar drops heavily

Asian markets ended mixed today amid thin trading as traders considered the latest Fed statement and the across the board drop in the US dollar kept risk appetite supported. The gains were limited though as the markets considered the fragile stat of the world economy. Yesterday, at the end of their one-day policy meeting, US Fed kept its benchmark rates near zero percent as expected and stated that the economy's recovery from a deep recession is likely to be modest in the near term. The Fed also kept the door open for more quantitative easing in the near term.

BSE Bulk Deals to Watch - Sep 22 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/9/2010 513513 Aditya Ispat GANESH BHIKAJI DHURE B 25719 14.88
22/9/2010 513513 Aditya Ispat CHIMANLAL MANEKLAL SECURITIES PRIVATE LIMITED B 35104 14.88

NSE Bulk Deals to Watch - Sep 22 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-SEP-2010,AEGISCHEM,Aegis Logistics Ltd,SAPPHIRE COMMERCIAL PVT.LTD.,BUY,134228,346.79,-
22-SEP-2010,AFTEK,Aftek Limited,ABANS SECURITIES LIMITED,BUY,496644,16.18,-
22-SEP-2010,BAGFILMS,B.A.G Films and Media Ltd,ALFA FISCAL SERVICES PVT LTD,BUY,3560880,11.54,-

Markets take a pause

Major headlines

Mahindra Satyam in demand ahead of board meet; the stock closed 13.02% higher

Crisil to buy Pipal Research for $12.75 million; the stock ends 0.63% lower

Allied Digital surges on fund raising plan; the stock closes 0.77% higher

VA Tech Wabag's IPO receives muted response

The IPO receives bids for 1.43 lakh shares.

VA Tech Wabag's IPO received a weak response from investors. The IPO was subscribed meager 0.05 times on day one of its bidding today, 22 September 2010. The IPO received bids for 1.43 lakh shares compared with 31.28 lakh shares on offer.

Electrosteel Steels IPO Analysis

Promoted by Electrosteel Castings (ECL), Electrosteel Steel is setting up a 2.2-million tonne per annum (MTPA) integrated steel and ductile iron (DI) spun pipes project in Jharkhand, India. ECL has obtained mining blocks of iron ore and coking coal in Jharkhand and has set up Electrosteel Steel for implementing the integrated steel and DI pipe plant.

VA Tech Wabag IPO Analysis

Va Tech Wabag (VTWL) is a multinational player in the water treatment industry with strong presence in developing countries including India, China, Middle East, North Africa, South East Asia, Middle East as well as Central and Eastern Europe. The company provides EPC and operation & maintenance (O&M) services for sewage treatment, processed and drinking water treatment, effluents treatment, sludge treatment, desalination and reuse for institutional clients like municipal corporations and industrial players in power, steel, oil & gas. As on July 31, 2010, the company had executed 113 projects and is currently executing 81 projects.

Investors lock profit after indices peak 32 month highs

The key benchmark indices took a breather after a three-day winning streak with negative global cues playing the spoilsport. Investors took some cash off the table after the recent strong gains which saw indices scale their 32 month highs. High volatility was the hallmark of the day's trading session. Both the BSE Sensex and S&P CNX Nifty closed below the psychological levels of 20,000 and 6,000 respectively after trumping these levels in early trade to scale 32-month peak. The BSE 30-share Sensex was down 59.83 points or 0.3%, off close to 160 points from the day's high and up close to 140 points from the day's low.

Crude back in the red

Prices drop as investors mull over economic recovery

Crude oil prices slipped once again on Tuesday, 21 September 2010 at Nymex. Prices dropped as investors failed to understand the pace of US economic recovery following the FOMC meeting details. Prices had registered gains a day before for the first time in five days.

Gold continues to shine

Silver drops again from its thirty-year high level

Precious metals ended mixed on Tuesday, 21 September 2010 at Comex. Yellow metal prices struck new record but silver reversed ended lower once again. Last week, silver had registered its highest close in three decades time. Gold prices shone following comments from Federal Reserve.

Market seen extending three-day gains

The market is likely to continue to recent upmove following positive global cues after the US Federal Reserve hinted it could take additional measures to stimulate economic growth. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could rise 14 points at the opening bell.

All the Latest Grey Market Premiums - Sep 22 2010

Company Name

Offer Price




Indosolar Ltd.

29 (Lower Band)

0.70 to 0.75 (Paise)

Tirupati Inks (FPO)

43 (Upper Band)

8 to 9

Career Point Infosystems

295 to 310

130 to 135

Eros International

158 to 175

41 to 42

Microsec Fin

113 to 118

22 to 23

Ramky Infrastructure Ltd.

405 to 468

32 to 34

Orient Green Power

47 to 55

2 to 2.50

Electro Steel

10 to 11

1.20 to 1.25

Gallantt Ispat

50 (Fixed Price)

4 to 5

VA Tech Wabag

1230 to 1310

330 to 340

Cantabil Retail

127 to 135

15 to 17

Tecpro Systems

340 to 355

60 to 63

Ashok Buildcon

297 to 324

43 to 44

Sea TV Network

90 to 100

19 to 21

Bedmutha Ind.

95 to 102

Morning Notes - Sep 22 2010

Morning Notes - Sep 22 2010

Psychological, don't get illogical!

The major psychological insight I’ve arrived at in life is that the psyche isn’t logical. - Anonymous.

The psyche of the bulls is hard to explain. There appears to be no end in sight to the liquidity deluge that has propelled the main Indian stock indices closer to all-time highs. But, leave no room for complacency as the market could not sustain gains on Tuesday and lack of participation by the broader market perhaps tells a different story. The frenzied, mindless euphoria of January 2008 is missing. People are more cautious and a little skeptical too. The worry of course is continuous selling by our local institutions.

Markets may see a strong start

Headlines for the day:

EGoM could save 2G telcos Rs20,000 crore

ONGC bids for Arctic oilfields in Russia

Indian Oil Corporation to invest Rs47,000 crore this year

Daily News Roundup - Sep 22 2010

Nord Imperial, the Russian subsidiary of India’s state-run ONGC, has entered the fray to bid for the Trebs and Titov deposits, the largest unallotted hydrocarbon fields remaining in Russia. (BS)

Ranbaxy has received an exclusive six-month marketing opportunity to sell a generic version of Japanese drugmaker Eisai’s drug for Alzheimer’s in the US. (BS)

Nifty ends above 6000...Sensex recaptures 20000

The benchmark Indian stock indices ended above key psychological levels as the Euphoria continued on Dalal Street. Markets extended recent gains ahead of the FOMC meet tonight and the upswing was led by IT, Telecom and Capital Goods stocks.

Morning Research - Sep 22 2010

Morning Research - Sep 22 2010

Trading Calls - Sep 22 2010

Trading Calls - Sep 22 2010

Asian stocks open positive

Asian stocks rose, driving the MSCI Asia Pacific Index higher for a fourth day, overshadowing declines by Japan`s exporters after the dollar weakened against the yen.

SGX Nifty Live Update - Sep 22 2010

6,030.50 +15.50

Sterlite Technologies

We recommend a buy in the stock of Sterlite Technologies from a short-term perspective. It is apparent from the charts of the stock that it has been on a steady long-term uptrend forming higher peaks and higher troughs from its January 2009 low of Rs 8.8. However, following a short-term correction from its high of Rs 123 this June, the stock found support retracing 23.6 per cent fibonacci retracement of around Rs 95 in early September. This level is also an important medium-term support level for the stock. On Tuesday, the stock gained 3 per cent closing above its 21-day moving average. We observe that there is an increase in volume in the past two trading sessions. The daily and weekly relative strength indices are rising in the neutral region towards bullish zone. Daily moving average convergence divergence oscillator has signalled a buy and is inching towards positive territory. Taking into consideration the presence of key support and its long-term uptrend still being in place, we are bullish on the stock. We expect it to move up until it hits our price target of Rs 102 or Rs 104 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining stop-loss at Rs 96.

via BL

Daily Derivative Strategy - Sep 21 2010

Daily Derivative Strategy - Sep 21 2010

Daily Technical Report - Sep 22 2010

Daily Technical Report - Sep 22 2010

Daily Fundamental Report - Sep 22 2010

Daily Fundamental Report - Sep 22 2010

Electrosteel Steels IPO

Electrosteel Steels IPO

Ramky Infrastructure IPO

Ramky Infrastructure IPO

Orient Green Power IPO

Orient Green Power IPO

Cantabil Retail IPO

Cantabil Retail IPO

Smart Trade and Smart Invest - Sep 21 2010

Smart Trade and Smart Invest - Sep 21 2010

Turnover rises

RIL, L&T September 2010 futures at premium

Nifty September 2010 futures were at 6018.85, at a premium of 9.80 points compared to spot closing of 6009.05. Turnover in NSE's futures & options (F&O) segment increased to Rs 1,56,526.36 crore from Rs 1,44,638.50 crore on Monday, 20 September 2010.