ce. This statement got markets boomed on Friday and continued today. Most of the Greece banks holding government papers have been downgraded by a notch but still every1 hopes that EU will find a way-out. We should keep our fingers crossed.
NIFTY is the only 3rd person in INDIA after Sachin and Sensex to score 200 runs in ONE DAY!!! Today is my shortest message for NIFTY Diagnosis….Just one advise “Pack up your bags and go on vacation”…….No technicals nor Fundamentals will work for our markets…Just wait for Americans and Europe to settle until then sit quietly……Today i wont mention any levels for NIFTY tomorrow because its of no use…But hold your long term investment and add on each dips…..Market will be volatile and be CAUTIOUS …..Market may touch 4400 if 4780 is breached on long term…..
- NIFTY was the out-performer today with a sweeping 108 to close at 5140. We had seen a high buying interest in NIFTY and its stocks as NIFTY crossed 5100 mark. Banking stock and Education stocks were leading the race while Auto stocks were lagging behind. Steel sector had seen a marginal move. I feel steel and Banking sector will be the leading hero in next rally.
- Fortis the Big-B of Pharma Sector:- Fortis healthcare is going to acquire hospitals in singapore and will become one the biggest chain in Asia. Its revenue is likely to touch Rs.4800 crore after acquistion. So you can have this stock in your portfolio.
- Maruti Stock shrinks: Maruti Suzuki strike is affecting stocks at dealers in South. This is a bad sign for the company and they might lose heavy sales volume during festive season. So better be away from this stock in near future
- Sun-TVs profits to slide down: Sun TV profits to slide as said by sources as high interest cost to affect the company’s balance sheet. They may post a lower growth thsi quarter so if you are holding it then you must book profits and exit.
- GTL got approval:- GTL gets approval to re-structure its $1billion debts. there are 16 Banks for the same and they are given 60 days to decide on it. This news might spurt up the stock for short term. So you may buy it for short term investment
- BGR Energy one order nt enough:- BGR had spurred up by 14% on the bag of 1 order but analyst say that this is not enough for the company’s future. But i am still neutral on the stock and you must be on the bulls for the stock.
- Reliance may be sued:- Reliance industry may be sued as said by CBI for the in-appropriate production at KG Basin .But this news won’t affect stock price much as it has already been discounted so hold your longs on the stock.
- Cement season:- Cement demand to spike as post monsoon is the best time for infrastructure development. And rise in cement price will also improve quarterly results for the companies so go for the cement stock for next 2 quarters.
- Obama raise $3trillion tax bill: Yesterday Obama declared $3 Billion plan to raise taxes for higher income people. Common man appreciated it but opposition says this is the political stunt and this is practically not feasibly. But on investor part of view it will bring short term rally and we must be bullish. Dow Jones has strong resistance at 11700.
- NIFTY has closed above the strong resistance level of 5072 with higher volumes and the inverted H&S is still intact.You can notice in the graph that NIFTY has closed exactly at the neckline and one more close above 5140 with higher volumes may take NIFTY to 5400 once. MACD and RSI are suggesting bulls for short term rally. NIFTY is expected to fill up the gap at 5300. So i suggest to hold your longs on NIFTY
Pheewww!!! Finally it closed above strong resistance level of 5072. But be cautious it has exactly closed there so market can go either way!! NIFTY closed 75 points up while NIFTY future last trade was at 5097. IN-HOUSE UPDATES:-
s declared yesterday EU is planning to issue common debt instruments of EU…hope this plan work and Greece is bailed out.
“Dhak-Dhak , Dhak-Dhak”…Nope its not the previous Hero Honda advertisement it was the heart beats of the investor that i could feel during the market hours today.NIFTY opened up on the back of good US markets and then saw a fall of almost 100 points from the days high to end at 4940 almost flat just 5 points down. NIFTY future has also closed at the same point after long time.
Stock in news since last two days is TATA MOTORS..basically for 2 reasons one being the stock split from FV 10 to FV 2 and other being CEO Forster resignation on Friday on short notice. He was the key guy on the acquisition of JLR. Company official says that his resignation wont affect the JLR operation in india. NALCO (National Aluminum Company) a state-run company, operating in orrisa, is the third largest produce of aluminum had to reduce production of 6% on daily basis due to power supply cut. This is a shame to Indian government.. Dont you think?? If you just recollect before few days NHPC joined hands with Sri-lankan Ceylon Elec board to supply power…Damn, why dont you first fulfill our domestic needs??..Jaago Grahak Jaago!!! It is going to affect aluminum output up to 20000 tonnes. Stock buzz was of PIPAVAVYARD who yesterday got selected by Mazagon dock (indian govt. co.) to manufacture Indian Navy vessels. This brought stock up by 15% in just two trading session. Jai Ho Gujarat!! Gujarati’s are rocking stock market ;). MCX on another side got the approval of IPO and they are planning offstake 12.5% of their holding. To boost Infra bonds government has decreased the minimum FII limit to $5billion and lock-in period is decreased to 1 year from 3 years. Industry official said lock-in period was not the problem but the problem was 20% tax that was levied by indian government on such investment. Another such issue was that IRDA (Insurance Regulatory and Development Authority) has planned to stop giving sanction to High NAV gurantee plans because they make market to fall further as they do heavy selling when they get small profits to avoid loss. So guys dont get attracted by Plans which gurantee’s u high NAV rather invest urself. Talking about the telecom sector analyst expect that service providers will earn more as they give high devices compulsory with Data plans. But do remember Apple has been sued by CCI as they choose such bundled distribution channel and nt going through retail channels making it a monopoly. Tomorrow we have GDP and Inflation Data so guys keep a watch on it
German car maker Volkswagen’s JV with Suzuki will come to end. Suzuki was accused of using diesel engines of Fiat and they think Volkswagen is trying to advantage of their size over them. So they have offered $2.2billion for the Volkswagen stake. OPEC (Organization of Petroleum Exporting countries) has downgraded world crude demand for the next fiscal. They say world crisis will affect the crude most and demand is to decline drastically from US which is the largest pool of crude customers. They even said Demand-supply gap is about to get filled up fast as Libya’s Oil production will resume to normal by 18months,faster then expected.Yesterday Blast took place in France nuclear plant 2cd of its kind this year after Japan. US banks are expected to post 45% less profit then expected by analyst due to crisis. So avoid Banking stock if you trade in US. But yesterday we saw sharp recovery in the US markets as the news ws flooded that China is expected to buy Italian bonds which may save Europe crisis temporarily.
Today NIFTY in the morning gave a good start to cover the gap which i mentioned yesterday at 4990-5040. Now NIFTY is left with one gap around 5209-5330 which must be filled up sooner or later. MACD is still flat on daily chart without a bearish crossover so be cautious. A remarkable point to notice today was that NIFTY made a low at same point which it made yesterday making 4911 a strong support. NIFTY still has that “inverted head and Shoulder” intact.. More time it takes to built up more significant is the breakout of the pattern. So fingers crossed for the bulls. Strategy is yet to be cautious on NIFTY.