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Wednesday, December 04, 2013

AFTER MARKET OPENING CHART CHECK
The Indian benchmarks ended yesterday on a flat note.. The indexes opened on a subdued note but soon started moving upwards. No sooner did they reach near to the peak touched on Monday, their momentum reversed and ultimately closed flat. It seems that the market is waiting for near term trigger i.e. five state assembly elections results due on December 8, 2013 followed by November inflation data, RBI policy, FOMC meeting and winter parliament session. However, much action was seen in the boarder market. The Sensex fell 43.09 points to close at 20,854.92 and the Nifty declined 16 points to hold the 6,200 level at 6,201.85. 
Today, since the morning the Nifty_Spot is able to hold the support zone of 6170-6180 ranges, which gives much satisfaction to the BULLS. In case of Nifty_Futures, for Wednesday, December 4, 2013, the trend (THIS PART IS FOR THE PAID SERVICE MEMBERS ONLY). 
Index Range (December Future
Nifty_Future: XXX
Range: XXX - XXX
Resistance: XXX – XXX - XX 
Support: XXX – XXX - XXX
Today's Call: Buy Reliance Power Ltd at Rs.73.65, T--Rs.81-82, SL--Rs.67. Since most of the stocks of power companies are moving on renewed optimism on the back of India's improving GDP growth numbers, hence, one can remain invested in this sector. This call was given today to the Paid Service members and to all those who are trading with my recommended brokerage houses.
Positive News:
  • INFRASTRUCTURE: RBI has allowed holding companies to raise funds through external commercial borrowings under automatic and approval routes, as long as they are for special purpose vehicles formed for an infrastructure project. This is positive for all the infrastructure counters. 
  • MININGThe steel ministry has moved the SC seeking directions to expedite resumption of iron ore mining in Karnataka citing "acute exigency" of the RM for the iron and steel industry. 
  • TELECOM: The EGoM decided that the government will put on block 403 Mhz of spectrum in the 1,800 Mhz bandwidth for the upcoming auction scheduled for January. 
  • AMTEK AUTO: Has increased stake in JMT Auto Ltd to 71.73% from 62.54%. 
  • BOBApproved issue shares aggregating to 5.50 bln rupees to the govt on preferential basis. 
  • BHELThe government is currently not looking at selling stake in the company to meet its divestment target for the current financial year. 
  • CAIRN INDIA: Company aims to double oil output to 400,000 barrels per day. 
  • GMR INFRAArm GMR Energy will sell Emco Energy, which has a 600 MW power plant in Maharashtra, in its effort to reduce debt. 
  • IOC: An environment ministry panel has approved the company's proposal of setting up a liquefied natural gas terminal at Ennore in Tamil Nadu. 
  • LARSEN & TOUBRO: Company sold 300,000 shares of L&T FINANCE HOLDINGS in the open market for 22.57 mln rupees on Monday. 
  • MAHINDRA HOLIDAYSCompany divested stake in two Austrian arms on Nov 29. 
  • NTPCPublic issue of tax-free bonds was subscribed 3.3 times on first day of launch as company got bids worth 33.10 bln rupees against target of 10 bln rupees. Company hopes its captive coal output would reach 100 mln tn as soon as its 10 coal blocks start operations. 
  • RCOMHas increased third generation internet mobile rates by 26% and reduced benefit on internet packages by up to 60%. 
  • SCIHas won a long-term shipping contract from PETRONET LNG worth more than $200 mln. 
  • SYNDICATE BANKHas approved issue of shares aggregating 2 bln rupees to the government on preferential basis. 
  • TATA MOTORSWill invest over 3 bln rupees in the National Automotive Innovation campus as part of its commitment for long term research and development in the UK. Co's UK-based subsidiary Jaguar Land Rover sold 6,047 vehicles in the US in November, up 37% on year. 
  • TITANTo start selling helmets under the Fastrack brand priced at 1,500-3,500 rupees. 
  • ORIENT BELL: Has tied up with Disney Consumer Products India to launch the latter's 'Disney' and 'Marvel' branded tiles in India.