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Monday, November 18, 2013

Market Mantra
The Indian markets are move as expected  after the level of 5970 (Nifty_Spot) provided the necessary support to the bulls resulting in a bounce back. Long positions can be taken with a Nifty_Spot target of 6150-6200. 
Resistance6100 / 6130
Support: 6040 / 6000.
Fundamentally speaking the Indian share indices which has opened higher, tracking rise in overseas markets Friday on US Federal Reserve chairman nominee Janet Yellen's comments that the Fed "has more work to do" and that it may not taper the stimulus programme soon. The Indian markets are now expecting a whirlwind rally. 
Stocks to watch for today’s trade:
  • (+VE) AMARA RAJA BATTERIESJul-Sep net profit was up 34.9% on year at 945.80 mln rupees. 
  • (+VE) NATCO PHARMA: Jul-Sep net profit was up 28.3% year-on-year at 269.2 mln rupees. The company is expected to launch a generic of Teva's multiple sclerosis drug Copaxone, which had annual worldwide sales of $4 bln. 
  • (-VE) TATA POWER: The 4,000-MW Mundra ultra mega power project in Gujarat has been shut since Thursday after a major fire broke out at the site.
Those who are holding Kavveri Telecom Ltd, kindly exit the scrip at around Rs.29 with minimum loss / gain, when the market is buoyant. The company came out with disastrous Q2FY14 results much below the street expectation and also there was no management commentary. In such a situation it would be too risky to hold the counter for too long.  In its place one can buy IVRCL Ltd at Rs.13.70-13.80, for a target around Rs.21-22, in the next couple of months time. IVRCL, another infrastructure company, is selling its Chennai seawater desalination plant and the Jalandhar-Amritsar road project as part of a second round of asset sales to trim debt. Its CMD, E Sudhir Reddy, at the company’s AGM on September 27, made it clear that “Three people have shown interest, but we are yet to sign any definitive agreement.” Prior to that in April, IVRCL sold three build, operate and transfer (BOT) road projects in Tamil Nadu to a Tata group company, for Rs 2,200 crore, while the company had a debt of Rs 6,000 crore on its books as on March 31, 2013. Call it ironic or whatever, there is a market for such assets, says an investment banker. “The push factor for companies to sell their assets is the tremendous stress level on their books. The pull factor is that there are a clutch of investors willing to invest in the select assets that are matured and relatively risk free,” said Sandeep Upadhyay, Senior VP (infrastructure solutions group) of Centrum Capital.The scrip is above its, 21 DEMA /  21 DSMA, 50 DSMA / 50 DEMA and 100 DSMA. CLICK HERE and CLICK HERE. In other words you can start buying all the construction counters, because after the monsoon, the work has started to gain pace.