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Stocks Strategy
19th March 2010
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Top News
- Tata Tele sells telco towers to Quippo for $290 mln
- India's Bharti Airtel has applied for third-generation mobile spectrum bid in all of the country's 22 telecom zones
- Textiles firm S Kumars Nationwide Ltd is looking to list its unit, Reid and Taylor, in which it holds about 75 percent stake, within the next one year, two
- ArcelorMittal the world's largest steelmaker, is in talks to buy a stake in unlisted Indian steel producer Bhushan Power & Steel Ltd to gain access
- India's Sun Pharma gets US nod for Prometh generic
- The Indian rupee retreated on Thursday from more than two-month highs reached in the previous session as the dollar rose broadly against majors overseas while small gains in the local sharemarket
- India’s food-price inflation slowed to a four-month low as bigger winter crops boosted supplies of sugar and wheat
- India's 10-year federal bond yield fell to a two-week low on Thursday, extending a drop as short-covering emerged after the benchmark yield had climbed to their highest in 17 months last week.
- India borrowing to be helped by short-term bond issues.
- Greece may seek financial aid from the International Monetary Fund next month because it is growing increasingly pessimistic about the prospect of help from the European Union
- Australia urged China on Thursday to allow its diplomats full access to the trial of four Rio Tinto staff charged with commercial spying in a case that could hurt political and economic ties.
- Toyota faces racketeering claims in consumer suits
- Malaysia plans new economic model
- Oil falls towards $82 as dollar firms
- Euro tumbles after report on Greece
- PRECIOUS-Gold retreats on firmer dollar; off 1 week high
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Market Review
Indian Market:
Nifty closed the session with modest gains after seeing consolidation since opening. Overall, it was a lacklustre session today after a two-day rally. The index got strengthened in the last few minutes of trade to close around 5250,
The Sensex was trading at 17466, down 24 points and the Nifty was at 5229, down 2.2 points. European markets were marginally in red and Asian markets also closed lower .
The food price inflation eased in early March but fuel inflation continued to rise, adding upward pressure on headline inflation and maintaining the case for the Reserve Bank of India (RBI) to raise rates at its April policy review.
The inflation data comes on the heels of a 16.7% annual jump in industrial output in January, with the unexpectedly strong economic pickup also backing the case for the central bank to raise policy rates by at least 25 basis points.
Global Cues:
Asian stocks fell, led by Japanese exporters and real-estate companies, amid concerns a rally that drove the MSCI Asia Pacific Index to a two-month high had outpaced prospects for earnings growth.
European stocks were seen inching lower on Thursday as investors take a breather following a sharp two-day rally that propelled Europe's main index to a 17-month closing high, with energy and mining shares set to feel the pinch of lower oil and metal prices.
The euro weakened against the dollar and the yen for a second day on concern Greece won’t receive aid from the European Union next week and may need help from the International Monetary Fund. Asia stocks and oil fell.
Japanese stocks dropped the most in two weeks after Morgan Stanley lowered its view on the nation’s real-estate industry and the euro weakened against the yen.
Technical View:
NIFTY IS HOLDING THE UPSIDE RALLY AND GETTING THE STRONG BUYING SUPPROT AT THE LOWER LEVELS. IN THE UPCOMING TRADING SESSION WE COULD EXPECT THAT NIFTY COULD FACE THE MAJOR RESISTANCE IN THE RANGE OF 5300 TO 5305. CLOSING ABOVE COULD FURTHER CONFIRM THE UPSIDE THE MOMENTUM AND COULD SEE THE LEVEL OF 5370 TO 5375.TRADERS COULD ADOPT ANY OUT OF THE TWO STRATEGY IN NIFTY FUTURE, FIRST THEY COULD BUY IT CLOSE TO THE LEVEL OF 5200 WITH SL OF 5150 FOR THE TG OF 5290 TO 5300.OR THEY COULD GO FOR SELL ON IT AROUND THE LEVEL OF 5265 TO 5270 LEVEL AND KEEP SL OF 5300 IN IT FOR THE TG OF 5200.
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Nifty Future March
Figure: 1 Nifty Daily Graph
Resisatnce Zone: IT HAS FIRST RESISTANCE AROUND THE LEVEL OF 5305 & AFTER IT COULD FACE RESISTANCE AROUND THE LEVEL OF 5335.
Support Zone: IT HAS FIRST SUPPORT AT THE LEVEL OF 5215 & AFTER IT COULD GET THE SUPPORT AT THE LEVEL OF 5145.
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Bank Nifty Future March
Figure: 2 Bank Nifty Daily Graph
Resistance Zone: IT HAS FIRST REISTANCE AROUND THE LEVEL OF 9300 & AFTER IT COULD FACE RESISTANCE AROUND THE LEVEL OF 9445.
Support Zone: IT HAS FIRST SUPPORT AT THE LEVEL OF 9110 & AFTER IT COULD GET THE SUPPORT AT THE LEVEL OF 9000.
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For Support & Resistance
Service |
Monthly |
Quarterly |
Half-Yearly |
Yearly |
| Stock Tips (Cash Calls) |
INR 4,000 | Pay Now |
INR 7,500 | Pay Now |
INR 14,250 | Pay Now |
INR 27,000 |
| Stock Futures |
INR 5,000 | Pay Now |
INR 12,000 | Pay Now |
INR 23,250 | Pay Now |
INR 45,000 |
| Premium Stock Tips |
INR 8,000 | Pay Now |
INR 20,000 | Pay Now |
INR 38,000 | Pay Now |
INR 72,000 |
| Nifty Premium Calls |
INR 4,000 | Pay Now |
INR 7,500 | Pay Now |
INR 12,000 | Pay Now |
INR 22,500 |
| Options - Call & Put |
INR 5,000 | Pay Now |
INR 13,500 | Pay Now |
INR 25,000 | Pay Now |
NA |
| Commodity Bullions |
INR 6,000 | Pay Now |
INR 15,500 | Pay Now |
INR 29,000 | Pay Now |
INR 54,000 |
| Commodity Agri |
INR 6,000 | Pay Now |
INR 15,500 | Pay Now |
INR 29,000 | Pay Now |
INR 54,000 |
| Bullions + Agri |
INR 10,000 | Pay Now |
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INR 51,000 | Pay Now |
INR 90,000 |
| Weekly Bullions |
INR 9,000 | Pay Now |
INR 22,000 | Pay Now |
NA |
NA |
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