Market rallies for ninth straight trading session:

The market continued a winning streak and extended a string of record highs that it had hit over the past few days. Strong rollover from September 2007 futures to October 2007 futures boosted bourses today. Turnover on BSE was high, just under Rs 8,000 crore mark. Despite the market holding positive zone, market breadth, which indicates overall health of the market, was negative on BSE. With today’s rally, the market has posted gains for ninth consecutive day, boosted by step-up of FII inflows. Metal, banking, FMCG and pharma stocks were in forefornt of today’s rally. However profit booking was witnessed in select oil & gas and IT pivotals. European markets were weak and Asian markets were mixed today. US markets were steady overnight. The wholesale price index rose 3.23% in the 12 months to 15 September 2007, lower than previous week's 3.32%, due to a fall in some food prices, government data released at about 12:00 IST today showed. The 30-shares BSE Sensex was up 140.54 points or 0.82% at 17,291.10. It opened higher at 17,152.31 and advanced further to hit an all-time high of 17,361.47. At the day’s high of 17,361.47, the Sensex had gained 210.91 points for the day. From a recent low of 13,989.11 on 21 August 2007, Sensex surged 3,301.99 points or 23.60% in 28 trading sessions to 17,291.10 on 28 September 2007. FII buying boosted the bourses in this period. The S&P CNX Nifty rose 20.80 points or 0.42% at 5,021.35. It struck an all time high of 5055.80. The Nifty October 2007 futures settled at 5,038, a premium of 16.65 points as compare to spot closing of 5,021.35. The market had opened on a firm note and extended early gains to hit record high in early afternoon trade as following a healthy rollover of derivatives positions from September 2007 contracts to October 2007 contracts. It had come sharply off higher level in early afternoon trade, before bouncing back again later. The breadth was slightly negative on BSE. 1392 shares declined as compared to 1362 that advanced on BSE. 58 remained unchanged. It was strong in morning trade. Interestingly in the past six trading days when the market has surged, the market breadth in contrast to the firm trend was negative in five sessions. The BSE Mid-Cap index was up 1.23% to 7,422.43. The BSE Small-Cap index rose 0.59% to 9,099.93. It hit an all time high of 9,136.32 in intra-day trade. The total turnover on BSE amounted to Rs 7915 crore as compared to Rs 7,750.07 crore yesterday, 27 September 2007 The NSE F&O turnover was Rs 56,998.5 crore today as compared to a record Rs 86,226.41 crore on Thursday, 27 September 2007. Sectoral indices on BSE displayed mixed trend. BSE Metal Index (up 3.28% at 13,944.83), BSE Health Care Index (up 1.72% at 3,784.21), BSE Auto Index (up 1.17% at 5,332.26), BSE Realty index (up 1.63% to 9,178.53) and BSE FMCG Index (up 1.94% at 2,161.35) outperformed the Sensex. However BSE Capital Goods Index (down 0.08% at 14,679.84), BSE TecK index (down 0.49% to 3,766.00), BSE IT Index (down 0.34% at 4,627.83), BSE Oil and Gas Index (down 0.81% at 9,561.95), BSE Consumer Durables index (up 0.07% to 4,804.24), BSE PSU index (up 0.77% to 8,202.07), were underperformers. Among the 30-member Sensex pack, 20 advanced while the rest declined. India’s second largest power utility company in terms of revenue Reliance Energy (REL) extended early surge. It jumped 8.82% to Rs 1215.80 on 35.31 lakh shares. It hit an all time high of Rs 1220 on BSE in late trade. As per reports REL is believed to be restructuring its businesses under three verticals utility, infrastructure and real estate. It was the top gainer from Sensex pack.World’s sixth largest steel manufacturer Tata Steel surged 7% to Rs 850. It hit a 52-week high of Rs 868.10 on BSE today. The stock was boosted after Mr Ratan Tata, Tata Group Chairman at the UK - India conference Said that the group expects to earn nearly 60% of its revenue this year (38% last year) from its overseas operations following the acquisition of Corus Steel in UK. Tata Motors, the nation’s top truck and bus maker in terms of sales rose 1% to Rs 758. Deutsche Bank is bullish on the stock and has maintained buy rating with target price of Rs 920. Hindalco (up 4.81% to Rs 172), and Cipla (up 3.95% to Rs 183.15), were the other gainers from Sensex pack. India's largest private sector bank by assets ICICI Bank gained 2.99% to Rs 1060 after it raised $2 billion through a bond issue abroad through a 5-year fixed rate note. The stock struck an all time high of Rs 1070.80 today.The notes have been priced at 237 basis points (bps) over US Libor or at Libor plus 172 bps. The six-month Libor is currently at 5.14%. State Bank of India, the country’s largest bank in terms of net profit jumped 4.19% to Rs 1965. The stock hit a record high of Rs 1969.80 today. Other banking shares - Bank of India (up 7.78% to Rs 280.40), Canara Bank (up 3.38% to Rs 278), Union Bank of India (up 4.45% to Rs 164.25), Kotak Mahindra Bank (up 3.30% to Rs 924.50) and Federal Bank (up 2.77% to Rs 375), edged higher. India’s largest private sector mortgage financer in terms of market share Housign Development Corporation (HDFC) gained 0.82% to Rs 2517. It hit an all time high of Rs 2544. Bharat Heavy Electricals (Bhel), the country’s largest power equipment maker by sales was down 0.67% to Rs 2,027, off its all time high of Rs 2089.20. As per recent reports Bhel has won a Rs 765 crore turnkey order from Steel Authority of India (SAIL) to set up a 62.2 mega watt captive power plant in Burnpur, West Bengal. IT pivotals snapped two-day rally. India’s third largest software services exporter Wipro rose 0.09% to Rs 460.75 off its day’s high of Rs 469. It acquired Oki Techno Centre (Singapore) in an all cash deal over a period of one year. Oki Techno Centre (OTCS) is based in Singapore and is focused on wireless design in the areas of RF (radio frequency) and baseband design. Other IT pivotals, Infosys (down 1.03% to Rs 1892, off its day’s high of Rs 1950), TCS (down 1.08 % to Rs 1050.25, off its day’s high of Rs 1077), slipped. Satyam Computers (up 0.03% to Rs 442.50), off its day’s high of Rs 452.90 held positive zone. IT pivotals had started the day firm, but pared gains on selling pressure later. India’s largest cellular services provider by market capitalistation Bharti Airtel lost 2.33% to Rs 938 on 1.83 lakh shares. It was the top loser from Sensex pack. Ambuja Cements (down 1.41% to Rs 143.10), and Larsen & Toubro (down 0.67% to Rs 2818), were the other losers from Sensex pack. India’s largest company in terms of market capitalisation and operator of world's third largest refinery at Jamnagar, Gujarat, Reliance Industries (RIL) saw volatile movement. It was now down 0.78% at Rs 2302.25 on 7.55 lakh shares. The stock moved between a high of Rs 2349 and low of Rs 2268. RIL is reportedly laying off 1,000 staff in the country's most populous state of Uttar Pradesh after failed attempts to reopen Western-style supermarkets, which closed after protests from small traders. Among side counters, Whirlpool India (up 20% to Rs 47.10), Mirza Internatonal (up 20% to Rs 28.50), Dynemic Products (up 20% to Rs 23.10), Braddy & Morris (up 20% to Rs 191.20) and Ashiana Housing (up 20 to Rs 320.60 were the top gainers.Among stocks with high volumes, Reliance Natural Resources surged 3.30% to Rs 89.55 on 4.32 crore shares. Himachal Futuristic Communications plunged 8.23% to Rs 26.75 on 2.90 crore shares. Ispat Industries rose 1.86% to Rs 27.45 on 2.33 crore shares and Tata Teleservices (Maharashtra) (TTML) slipped 0.11% to Rs 43.45 on 1.94 crore shares.Fertiliser shares rallied on renewed buying. Chambal Fertilisers & Chemicals (up 7.10% to Rs 58.80), Coromandel Fertilisers (up 13.29% to Rs 122.35), Gujarat State Fertilisers & Chemicals (up 4.97% to Rs 242), National Fertilizers (up 4% to Rs 48), Rashtriya Chemicals & Fertilisers (up 2.17% to Rs 61.30) and Nagarjuna Fertilizers (up 11.19% to Rs 60.60) surged.India’s largest private sector iron ore exporter in terms of revenue Sesa Goa jumped 8.15% to Rs 2548. It had surged 7.14% to Rs 2388.20 yesterday, 27 September 2007 on reports that Cia. Vale do Rio Doce, Rio Tinto Group and BHP Billiton, the world's three largest iron-ore exporters, may increase prices by 30% next year as demand driven by steelmakers in China outpaces growth in supply.Watch and jewellery maker Titan Industries rose 1.10% to Rs 1470. The company expects FY 2008 profit to rise by at least 50%. Revenue is expected at Rs 3150 crore as compared with March 2007 revenue of Rs 2140 crore. Titan expects to sell 10 million watches this fiscal year with nine million of them in India.NIIT Technologies gained 5.77% to Rs 353 on reports that the company is in preliminary discussions with private equity players Carlyle and TPG to sell a majority stake. Promoters currently hold 40% stake in NIIT Technologies. IFCI soared 7.70% to Rs 99.90 on reports that it has shortlisted eight bidders for the sale of its 26% stake including consortia led by Wilbur L Ross and Shinsei Bank. As many as 10 bidders had applied earlier this month. The identity of the bidders that have been left out of the race is not known. DLF gained 2.89% to Rs 763. As per reports it will apply for telecom licence by today, 28 September 2007, to become the fourth real estate company to have applied for the same purpose. IndiaBulls Real Estate, Unitech and Parsvnath Developers are the others. Emkay Share & Stock Brokers jumped 10% to Rs 145.60 after its 100% subsidiary - Emkay Insurance Brokers received licence from the Insurance Regulatory and Development Authority (IRDA) in terms of sub section (1) of Section 42 D of the Insurance Act, 1938 to act as a direct insurance broker. The company made this announcement after market hours on 27 September 2007. Brady & Morris Engineering Company surged 20% to Rs 191.20 after its board of directors of at its meeting held on 27 September 2007 decided to issue bonus shares in the ratio of 1 bonus share for every 2 shares held. The company made this announcement after market hours on 27 September 2007. WH Brady & Company jumped 10% to Rs 159.70 after is board of directors at its meeting held on 27 September 2007 decided to issue bonus shares in the ratio of 1 bonus share for every 2 shares held. The company made this announcement after market hours on 27 September 2007. United Breweries was up 0.58% to Rs 382. Its board approved raising upto Rs 425 crore by issuing equity shares to the existing equity shareholders of the company on rights basis. The other terms regarding rights issues will be decided by a committee of directors. Arvind Mills galloped 5.67% to Rs 61.50 after its board approved issue of 5.06 crore convertible warrants to the founders of the company at Rs 52 per share. Post issue, the shareholding of the promoters in the company will increase to 46.77% from 33.90% at present. Cairn India rose 3% to Rs 181.40 on reports that it made new oil find in one of its exploration wells in the Ravva field off India's east coast. Deccan Aviation declined 1.78% to Rs 146 after it announced today, 28 September 2007, that it has reported a net loss for the quarter to June 2007. State Trading Corporation of India plunged 5% to Rs 341.90. It had lost 5% to Rs 359.85 yesterday, 27 September 2007 after its board of directors at its meeting held on 26 September 2007 deferred recommendation of bonus shares to the next board meeting. The company made this announcement after market hours on 26 September 2007. Stone India jumped 6.59% to Rs 148 after it executed a technical collaboration agreement for producing 180 kilovolt-amps auxiliary power converter for Indian Railways. Atlanta galloped 10% at Rs 346.70 after Sebi allowed the firm to restructure its capital to raise funds for expansion. Securities and Exchange Board of India (Sebi) has allowed the company conversion of warrants and listing of shares issued on conversion. Earlier in February 2007, Sebi had asked the promoter group, which comprises 16 entities, of Atlanta, not to deal in Atlanta scrip. Centurion Bank of Punjab moved up 3.12% to Rs 44.65 after Reserve Bank of India allowed foreign investors to buy further shares in the bank as their holding went below the caution limit. Virat Crane Industries jumped 10% at Rs 21.85 after its subsidiary Durga Dairy tied-up with Walmart to supply branded ghee to retail stores. So far, Durga Dairy has entered into similar alliances with major retail players like Reliance Retail, Trinetra, Gaint, Spencers, Foodworld, Subhiksha and Metro. Rallis India surged 5.12% to Rs 415 after it sold 31 acres of land to R R Mega Property Developers. Hinduja TMT rose 1.60% to Rs 437 after company said it is actively considering to apply for unified telecom license. It is in process of changing its name to Hinduja Ventures. Core Projects & Technologies rose 0.84% to Rs 190.40. Its board approved acquisition of virtual learning of Azzuri Communications, UK. The board has also approved acquisition of 100% equity stake in Hamlet Computer Group, UK. Also the company has decided to sign share purchase agreement for acquisition of 100% equity stake in KC Management Group, US. Financial Technologies India galloped 6.06% to Rs 2760 after Merrill Lynch and Citigroup acquired a 5% stake each in its unit, Multi Commodity Exchange of India.

As per market data, marketwide rollover from September 2007 derivatives contracts to October 2007 contracts was 84% as compared to rollover of 82.30% from August 2007 contracts to September 2007 contracts. Nifty rollover from stood at 71% as compared to rollover of 70% from August 2007 contracts to September 2007 contracts.
Source: Capital Market

Corporate News:

• Dhunseri Tea & Industries approves the scheme of amalgamation of Tezpore Tea Co
• Indo Rama Synthetics' equity shareholders & creditors to approve scheme of amalgamation
• Fortis Financial Services allots equity shares
• ICICI Bank prices international bond offering
• City Union Bank opens new branch at Nashik (Maharashtra)
• Dhanalakshmi Bank's director retires
• ICICI Bank allots equity shares
• GTL Infrastructure to allot equity shares
• Ambuja Cements allots equity shares
• Nagarjuna Construction Company to issue & allot warrants
• Gammon India submits DRHP with SEBI
• 3i Infotech allots equity shares
• BCL Forgings allots equity shares
• OCL India's shareholders & creditors approves scheme of arrangement
• HDFC allots equity shares
• Nestle India to announce Q3 results
• Shree Cement commences its 18 MW captive thermal power plant
• Dr Reddys Laboratories commences its operations in Philippines
• Ansal Properties & Infrastructure enters into MOU with UEM
• Spice Communications to announce Q3 results
• Panoramic Universal acquires 4.46% stake in ISE
• Bajaj Hindusthan Sugar & Industries appoints director
• CMC to announce Q2 results
• Saksoft allots equity shares
• JIK Industries appoints nominee director
• Rallis India enters into an agreement with R R Mega Property Developers
• RPG Life Sciences' equity shareholders to approve scheme of arrangement
• Maharashtra Seamless to issue and allot equity share
• Arvind Mills to issue warrants
• Kotak Mahindra Bank allots equity shares
• ACC allots shares
• Ventura Textiles to allot equity shares
• Uflex allots equity shares
• IMP Powers to issue & allot warrants convertible into equity shares
• United Breweries to raise funds
• Mafatlal Industries' secured creditors to approve scheme of compromise arrangement
• Patni Computer Systems allots equity shares
• Martin Burn's director resigns
• iGate Global Solutions to announce Q2 results
• Genus Power Infrastructures to issue and allot convertible warrants
• Lupin allots equity shares
• HCL Infosystems allots equity shares
• Sumedha Fiscal Services grants stock options
• Ramkrishna Forgings to convert warrants into equity shares
• Stone India executes technical collaboration agreement with SMA Technologie AG
• Infotech Enterprises inaugurates first on-site photogrammetry facility
• Wipro to acquire Oki Techno Centre (Singapore)
• Merrill Lynch and Citigroup acquires 5% stake each in MCX
• Hinduja TMT applies for unified telecom licenses
• Abbott India reschedules Q3 results
• Atlas Cycles Haryana recommends dividend
• IDBI launching fifth tranche of IDBI omni bonds
• C & C Constructions recommends dividend
• Emkay Share & Stock Brokers' subsidiary receives licence from IRDA
• Paradyne Infotech grants stock options
• Chettinad Cement Corporation's directors retires
• HCL Technologies to announce Q1 results
• Core Projects to acquire virtual learning business of Azzuri Communications
• Jayabharat Credit's director resigns
• Logix Microsystems allots equity shares
• Mukand appoints directors.

Short Term & Future Tips for 28-09-2007

SHORT TERM:

BUY TORRENT PHARMA ON DECLINES AROUND 183 TARGET 198-215-237 SL 179
BUY PATNI ON DECLINES AROUND 458 TARGET 490-515-533 SL 451

POSITIONAL FUTURES:

BUY BAJAJHIND FUTURES ON DECLINES 162-170 TARGET 205-220 SL 154
BUY BALRAMCHIN FUTURES ON DECLINES 68-73 TARGET 98-110 SL 63
BUY PANTLOONRETAIL FUTURES ON DECLINES 520-530 TARGET 585-605 SL 510
BUY PENINLAND FUTURES ON DECLINES 540-550 TARGET 595-620 SL 530

Short Term & Future Tips for 27-09-2007

Short Term:

Buy Dish Tv on declines around 71 Target 79-85-91 SL 67
Buy Jupiter Bios on declines around 177 Target 194-203 SL 171

Positional Futures Oct:

Buy I Flex on declines 1840-1860 Target 1980-2020 SL 1820
Buy Wipro on declines 448-455 Target 480-495 SL 441

Short Term & Future Tips for 26-09-2007

Positional Futures:

Buy Ansalinfra on declines 284-290 Target 320-332 SL 278
Buy Auropharma on declines 585-593 Target 640-656 SL 577
Buy Drreddy on declines 624-632 Target 616-670 SL 616
Buy Lupin on declines 568-575 Target 610-625 SL 561

Short Term:

Buy McDowell on declines 1735-1745 Target 1790-1825 SL 1718
Buy South iron on declines 34.50 Target 42-44-47-54 SL 32

Shortterm & Intraday & futures for 25-09-2007

Intraday:

Buy BEL @ 1814.35 Target 1855-1880-1900 SL 1780
Buy GESHIP @ 340.15 Target 355-365 SL 330
Buy RANBAXY @ 416.95 Target 430-445 SL 402
Buy M&M @ 784 Target 845-870 SL 748

Short Term:

Buy Adi Bir Nuvo @ 1475.20 Target 1510-1536-1624 SL 1413
Buy Amtek Auto @ 343.90 Target 359-376 SL 335

Positional Futures:

Buy Alok Text on declines 69-72 Target 85-90 SL 66
Buy Bharat Forge on declines 278-283 Target 315-330 SL 273
Buy Gujalakali on declines 144-147 Target 162-170 SL 141
Buy Suntv on declines 350-356 Target 386-395 SL 344

Intraday & short term for 24-09-2007

BUY SIEMENS @ 1377.30 TARGET 1420-1455-1500 SL 1310
BUY BHEL @ 1969 TARGET 2020 SL 1903
BUY FINANTECH @ 2712 TARGET 2850-2900 SL 2625
BUY JPASSOCIATE @ 966 TARGET 990-1005 SL 940
BUY MRPL @ CMP TARGET 56 SL 49
BUY BAJAJHIND @ CMP TARGET 195 SL 160 (Short Term)
BUY RENUKA @ CMP TARGET 750 SL 660 (Short Term)
BUY INDHOTEL @ CMP TARGET 170+ (Short Term)
BUY IDBI @ CMP TARGET 155-170+ (Short Term)
BUY IDEA ABOVE 125 TARGET 135-140 (Short Term)

MARKET OUTLOOK:
Indices have registered new peaks with the sensex gaining 800 points in the current week and the Nifty gaining 230 points. Markets could come in for some profit booking at higher levels and could correct by 100-150 points. World markets too have been rising continuously after the Fed announced its first ever interest rate cut in 3 yrs and they could too face resistance at higher levels. European markets have already moved into the red falling by 0.50% each. Be cautious at higher levels and trade on a stock specific basis. Bias yet remains positive but a correction from these levels could not be ruled out.

Positional Futures:

1. Buy Hindalco @ 156- 162 for a target of 176
2. Buy Zeel @ 308-314 for a target of 342-350
3. Buy Biocon @ 458-466 for target of 496-502
4. Buy Essar Oil @ 51-53 for a target of 60-65

Short term:

1. Buy Shah Alloys @ cmp(64.30) for a target of 71/78
2. Buy Crest Animation @ cmp(113) for a target of 125/131

Intraday for 20-09-2007

Buy TATAMOTORS for a target of 735/780 SL 698
Buy BHARATFORGE for a target of 300/310 SL 274
Buy ZEEL for a target of 340/345 SL 308
Buy MCDHOLDING for a target of 310/340 SL 218

Sensex gallops 651 points; settles above 16,000


The market soared to record closing with high turnover. It opened with a bang and kept on advancing during the course of the trading session as buying continued for index pivotals. Short covering might also have propelled the market higher to some extent. The total turnover on BSE crossed Rs 7,000 crore mark.
Shares from across sectors and market capitalisation participated in the rally. Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills.
The rally on the bourses today was triggered by the US Federal Reserve announcing a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007, easing concerns about housing slump driving the world's largest economy into recession. Asian markets, which opened before Indian market, rallied today, 19 September 2007, after the Fed decision. All European indices which opened after Indian market were also trading with gains.
The 30-shares BSE Sensex surged 651.29 points or 4.16% to 16,320.41, as per provisional closing. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all-time high of 16,335.30. Its previous all-time high was 15,868.85 hit on 24 July 2007.
The S&P CNX Nifty jumped 188.80 points or 4.15% to 4,735. It struck an time high of 4,739.
As per provisional closing, the BSE Mid-Cap index rose 1.90% to 7,117.71 after hitting an all time high of 7,120.91. The BSE Small-Cap index hit an all time high of 8,943.23. It settled 1.04% higher to 8,872.11. But both these indices underperformed the Sensex
The total turnover on BSE crossed Rs 7,000 crore mark. It spiked in the last hour of trade. BSE clocked a turnover of Rs 7,405 crore as compared to Rs 5785 crore 14:30 IST.
All the 30-members from Sensex pack advanced.
India’s largest listed cellular services provider by sales Bharti Airtel jumped 6.93% to Rs 890.20 on 2.91 lakh shares after its Sri Lankan unit signed a $150 million contract with China's Huawei Technologies Co to build and manage mobile infrastructure in the island nation over three years. It was the top gainer from Sensex pack.
Bank and financial shares rallied on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 6.83% to Rs 2330. The stock eased form its all time high of Rs 2415 hit earlier during the day
HDFC Bank, the country’s second largest private sector bank in terms of net profit soared 6.83% to Rs 1314
State Bank of India, the country’s largest banking entity by net profit jumped 4.52% to Rs 1770. It topped the list of advance taxpayers, after it paid reportedly paid Rs 1,050 crore in the June-September quarter, which is nearly 50% more than the tax paid during the corresponding period last year.
India’s second largest bank by net profit, ICICI Bank jumped 4.44% to Rs 966.10. As per reports it paid Rs 450 crore advance tax for the June-September 2007 period. The bank had paid the same amount for the corresponding period last year.
India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) surged 5.99% to Rs 2181.70 on 10.59 lakh shares. It struck an all time high of Rs 2185. As per reports its subsidiary - Reliance Logistics (RLL) is planning to set up logistics parks within all the upcoming special economic zones (SEZs). The Reliance logistics parks will cater to the entire range of logistic requirements of the SEZs. RIL has reportedly paid Rs 650 crore in the June-September 2007 quarter. The tax outgo during the June-September period last year was about Rs 450 crore.
Oil and Natural Gas Corporation, the country’s largest oil exploration company by revenue surged 5.89% to Rs 901 after its Chairman R.S. Sharma said the company may consider a bonus issue and a share split in the future. He did not give a time frame for bonus issue and stock-split.
Infosys Technologies, the nation’s second largest software services exporter rose 3.14% to Rs 1856.55 on rumors the firm is interested in acquiring UK-based Sage Group. Infosys has denied the reports further clarifying that it also isn't negotiating with Cap Gemini SA about buying any part of the company.
Maruti Suzuki India, the country’s top car-maker by sales vaulted 5.11% to Rs 920.50 on reports that company will set up an auto component park with Japan's Futuba Industrial Company. Maruti will hold a 49% stake in the joint venture. This will be Futuba’s first project outside Japan
India’s second largest bike maker Bajaj Auto rose 4.55% to Rs 2510. It has reportedly paid Rs 120 crore for the second quarter of the current fiscal. The company has paid Rs 102 crore as the first installment during the quarter ending June 2007.
India’s second largest cellular services provider by sales Reliance Comunications, rose 5.11% to Rs 564.75 after its subsidiary Flag Telecom reportedly signed a five-year agreement with UK-based Vanco to increase its presence across 81 countries worldwide.
Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills. All of them saw a phenomenal spurt in volumes.
Dwarikesh Sugar (up 20% to Rs 66.60), Sakthi Sugar (up 20% to Rs 92.70), Triveni Engineering (up 22.68% to Rs 135.50), Balrampur Chini Mills (up 24.31% to Rs 83.60), Shree Renuka Sugars (up 24.68% to Rs 686.10), and Bajaj Hindustan (up 21.76% to Rs 178.50) surged. The government will detail the new financial incentives in 10 days, Pawar said today.
As per reports, sugar mills may be allowed to produce ethanol directly from cane juice, instead of molasses, to lower dependence on sugar prices. The South Asian nations may require oil refiners to double the ethanol level in gasoline to 10% from October 2008.
DLF was the top traded counter on BSE with total turnover of Rs 255.19 crore followed by Reliance Industries (Rs 226.36 crore), ICICI Bank (Rs 226.36 crore), Reliance Capital (Rs 134.16 crore), and Shree Renuka Sugars (Rs 127.42 crore).
DLF galloped 8.91% to Rs 714.25 on reports that the company is getting into the retail of luxury brands and is in talks with some well-known retail chains, including Georgio Armani, Versace and Dolce Gabbana. DLF is in talks with 10-12 brands. Also another set of reports stated that DLF will tie up with a foreign major Carrefour for the supermarket business at a later stage.
The first batch of advance tax figures hint improved corporate earnings for the second quarter ended September 2007. Advance taxes are paid in four installments — in June, September, December and March. The June and September installments usually constitute about 15% and 25% respectively of the total advance tax payable in a fiscal.
European markets which opened after Indian market were trading with gains. Key benchmark indices from United Kingdom (up 2.11% to 6,416), Germany (up 1.87% to 7,717.70), and France (up 2.30% to 5,677.22), advanced.
Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.98% at 25,554.64), Japan's Nikkei (up 3.67% at 16,381.54), Singapore's Straits Times (up 3.65% at 3,596.36), South Korea's Seoul Composite (up 3.48% at 1,902.65) and Taiwan's Taiwan Weighted (up 0.30% at 8,926.50) surged.
Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.
Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.
Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.
As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007
The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.
Source: Capital Market

TODAY'S RECOMMENDATION

MARKET WILL OPEN WEAK AND WE CAN TEST 4467----4450 , UP SIDE 4505----20 WILL BE RES, BUT WE CAN SEE BUYING AT LOWER LEVELS, SENSEX CAN TEST 15430-------360, UPSIDE WE CAN TEST 15570-----620, STOCKS TO WATCH: IVRCL, ICICI BANK, RPL BUT LETS CLEAR THE SIGNAL FROM MARKET
NIFTY ::::: Support 4475-4450 Resistance 4521-4551
DAY TRADING ADVICES IN CASH NEYVELI (CLOSE AT 99) ---- Buy with stop loss of 96 for the target of 106 and above.
BUY GDL ABOVE 136.50, SL 133, TGT 144
BUY RENUKA SUGAR ABOVE 554.4, SL 540, TGT 580
BUY KEI INDUSTRY ABOVE 88.40, SL 85, TGT 96
REDINGTON (CLOSE AT 310) ---- Buy with stop loss of 305 for the target of 322 and above. INDIABULL (CLOSE AT 568) ---- Buy with stop loss of 562 for the target of 580 and above.
CAUTION IN BUYING IN NEGATIVE TREND
News:
Indian Hotels has acquired a 10% stake in Orient Express hotels trains and cruises for about $211million.
Aban has bagged 3 contracts form ONGC valued at approximately Rs.2000 cr.
Markets continue to trade in a range moving between 15800 – 15400 mark. The indices have been moving between this range since the past 5-6 trading range with selective stocks making their way to the north. Mid-caps and small-caps have particularly been the focus of everyone’s attention with sensex biggies taking a backseat for the moment. Fed announcement’s on the interest rates scheduled for today later in the night would be highly awaited{ Markets do not expect more than 0.25 bps reduction}. The levels of 15700-15750 remain a tough resistance. Expect a fresh move only if the indices cross these levels which could then translate to new all time highs. Support exists at 15400 mark.
Sugar stocks lookk technically attractive. Renuka Sugars could move upto 575-580 {support at 540 }& Bajaj Hindustan could move upto 155-156 mark.{support at 141-142}

TIPS FOR 14/9/07

BUY AUROBINDO PHARMA @CMP TGT 645 & 678
BUY CMC @CMP FOR A TGT OF 1095
BUY MAH SEAMLESS @CMP FOR A TGT OF 624

BUY DCM SHR CON @CMP FOR SHORT TERM TARGET OF 82/86

Intraday Tips for 12/9/07 and short term Recommendations

Intraday:

Buy IndiaBulls Realestate @ 510 tgt 535/554
Buy Ster on dips for a target of 624 and 630
Buy Unitech on dips for a target of 265
Buy RCOM for a target of 550 Sl 535
Buy Jindal Steel for a target of 165

Sell: Axis Bank
Bank of India
Federal Bank
SBI

Short Term:
Buy Sonata Soft @ 54 tgt 58/60/65

Shortterm & Intraday Futures

For Short Term:

Buy Matrixlabs @ 232-235 Target 257-262 SL 226
Buy Finolexinds @ 71 Target 76-80 SL 68.85

For intraday & positional futures:

Buy Amtek Auto on declines @ 364-369 Target 388-396 SL 359
Buy Ansal Infra on declines @ 247-251 Target 267-274 SL 243
Buy Lupin on declines @ 603-610 Target 636-648 SL 596
Buy Patni on declines @ 465-471 Target 504-515 SL 459

Markets may see correction
F&O OUTLOOK : September 8, 2007
The markets were not able to sustain above the critical S&P CNX Nifty level of 4,530 spot and closed almost near the day’s low. The Nifty September futures contracts closed below 4,500 at 4,480.

The open interest in the Nifty September futures contracts was 17.81 lakh shares, while the discount increased from 11 points to 29 points. This indicates the creation of short position by bears at higher levels.

The markets on Friday provided the much-needed breakout as the Nifty spot crossed the critical level of 4,530 to top at 4547.75. However, the Nifty could not hold the crucial levels and closed near the 4,500 support level.

According to Kamalesh Langote of vfmdirect.com, this behavior, coming on a Friday, is not encouraging as a breakout should have normally led to fantastic gains and set the mood for the market next week.

On the flip side, the markets are still holding at their support level of 4,500 spot. This level provided resistance and limited any upside during the week. Looking forward, the break of 4500 will invite correction.

The two-day and five-day swing and trailing stop losses are pegged near 4,450. The break of 4,450 on a closing basis will require exiting longs and considering shorts. A close below the 4,450 level may lead to a correction and we may be back to 4,000, the starting point of the current rally.

The put-call ratio of open interest in Nifty options remained unchanged at 1.57 as put options added 12.88 lakh shares while call options added 8.07 lakh shares.

The operators are writing out of the money call options and put options while covering in the money positions. The 4,600 call options added OI of 2.17 lakh shares, indicating that the call writer does not foresee the Nifty crossing a new higher level.

However, operators have bought 4,500 strike price call options for Rs 87.65 premium. The operators added OI of 1.32 lakh shares at 4,400 put options, indicating a support base for the Nifty in case it fell below the 4,450 level.
source: Business standard

recommendations for short term and intraday

Sorry Viewers, as i was out of station i couldnt updated my blog and now i am back and here are some tips for short term and intraday.

Intraday:

Buy SBI at cmp TGT 1650/1665/1700
Buy Tata Motors @CMP tgt 260/267/275
Buy Cairn @CMP Tgt 155/160/164
Buy Bata India @CMP Tgt 180/190/200

Short Term:
Buy Macloed Russel scrip code (532654) @cmp Tgt 75+
Buy Binani Ind @CMP Tgt 184/202
Buy BPCL @cmp Tgt 318/325
Buy Balaji Tele @cmp Tgt 340

Good Luck and Give feedback in chat box about our tips and recommendations.
Thank You.