Post-market: Metals keep spirits up on second day

 

Sharekhan's daily newsletter Visit us at www.sharekhan.com January 05, 2010 Index Performance Index Sensex Nifty Open 17,555.77 5,277.15 High 17,729.78 5,288.35 Low 17,555.77 5,242.40 Today's Cls 17,686.24 5,277.90 Prev Cls 17,558.73 5,232.20 Change 127.51 45.7 % Change 0.73 0.87   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers National Aluminium 505.20 14.81 JSW Steel 1,134.00 10.82 MTNL 85.65 10.30 Gujarat NRE Coke 92.30 7.89 Shipping Corp 159.45 7.74 Losers Videocon Industries 248.55 -2.83 Maruti Suzuki 1,515.60 -2.27 Central Bank 157.00 -2.12 Tata Motors 810.95 -1.99 Fortis Health 141.40 -1.67 Market Statistics - BSE NSE Advances 1,780 1,116 Declines 1,104 585 Unchanged 78 45 Volume(Nos) 70.39cr 114.39cr  Market Commentary  Metals keep spirits up on second day Domestic indices continue to surge on the third straight session and the second day of 2010 on strong global markets combined with tremendous buying in metals. Events Update Godrej Properties listed on the BSE at Rs510, at 5% premium on the issue price. The stock touched day?s low of Rs500 and day?s high was Rs586.70. In today?s trade, the stock closed at Rs534.55    up by 9.09% with a volume of 52,56,086 shares on the BSE.   Global signals The European indices opened weak. At the time of writing this report FTSE 100 was trading almost flat, only 0.03% higher. Among major Asian indices, all the indices closed higher, except Kospi that fell marginally by 0.33%. SGX Nifty rose 31 points. US stock futures opened marginally lower on Tuesday, as investors keep an eye on Auto & Truck Sales number for December and Pending Home sales number of November. Indian indices On strong overseas markets and robust buying in metals, Indian indices continued their northbound journey. The Sensex that opened 3 points lower at 17556 and never saw that level again. The day?s high was 17730. At finishing line, Sensex closed at 17686, 127 points higher. Nifty closed 46 points higher at 5278. Market sentiment The market breadth, the number of advancing shares to declining shares, was positive. Of the total 2,962 stocks traded on the BSE, 1,780 stocks advanced, whereas 1,104 stocks declined. Seventy eight stocks closed unchanged. Sectoral & stock screening Aluminium, copper or steel?it was the day of metals. The sector index, BSE Metal, was up by 3.82%. BSE Realty was up by 1.14%. The remaining indices bar BSE Auto that was down by 0.25% were up marginally.  National Aluminium Ltd (NALCO) was the star stock of the day being up by 14.84% for the day to be followed by JSW Steel that was up by 10.82% and MTNL that rose by 10.30%. On losers list, Videocon Industries topped, down by 2.83% at the closing, followed by Maruti Suzuki that fell by 2.27% and Central Bank of India that shed 2.12%. Viewing volumes IFCI, industrial finance company, saw highest trading with over 1.17 crore shares changing hands on the BSE, followed by Reliance Natural Resources (1.10 crore shares), wind turbine maker Suzlon Energy (0.98 crore shares), Ispat Industries (0.97 crore shares) and Essar Oil (0.64 crore shares).  Today's major news JSW Energy plans Rs40,000 crore investment; the stock shoots up 11.91% MIC Electronics secures orders worth Rs14.15 crore; the stock closes 1.26% lower Sadbhav Engineering bags project worth Rs1,350 crore; the stock rises 1.76% Mahindra & Mahindra to sell Navistar trucks by March; the stock surges 1.86% JSW Steel?s Q3 crude steel production grew by 88%; the stock jumps 10.82%  European Indices at 16:00 IST on 05-01-2010 Index Level Change (pts) Change (%) FTSE 100 Index 5514.56 14.22 0.26 CAC 40 Index 4017.50 3.53 0.09 DAX INDEX 6047.80 -0.50 -0.01 Asian Indices at close on 05-01-2010 Index Level Change (pts) Change (%) Nikkei 225 10681.83 27.04 0.25 Hang Seng Index 22279.58 456.3 2.09 Kospi Index 1690.62 -5.52 -0.33 Straits Times Index 2920.28 25.73 0.89 Jakarta Composite Index 2605.28 29.86 1.16 Shanghai Composite 3277.14 14.54 0.45

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Share Guru Tips For the day....

Stock Of The Day (Best Buy)

Stock	Buy Around	Target 1	Target 2	Stop Loss
ATLAS CYCLE	IF BREAKS 249	255	260	244
BHARAT FORGE	IF BREAKS 284	288	290	281
BHARTI AIRTEL	IF BREAKS 332.50	336	338	329.50
CROMPTON GREAVES	IF BREAKS 438	443	448	434
ESCORTS LTD	IF BREAKS 147.50	150.50	152	145
HEG LTD	IF BREAKS 404	410	415	398
INDIAN BANK	IF BREAKS 178.50	181.50	183	176
JK TYRE	IF BREAKS 164	168	170	161

   

High Risk Buys

Stock	Buy Around	Target 1	Target 2	Stop Loss
OPTO CIRCUITS	235	243	246	231

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SHARE GURU

Intraday Trading Calls dt 06-01-10

 

Long Calls on	6-Jan-10
NSE Equity code	Buy above	Target (1)	Target (2)	Stop Loss	Target1 Percent
IDEA	59.80	61.30	62.20	58.90	2.51
AVAYAGCL	188.80	195.00	199.05	184.80	3.28

Nifty Target and Stop loss				Bullish
Stop Loss 1	Stop loss 2	Pivot	Target 1	Target 2
5223.60	5250.75	5269.55	5296.70	5315.50
Note: -	1.If Bullish take only Long Position don't short.
	2.If Bearish take only Short Position don't long.

*Buy Titan Industries at Rs 1450 with intra-day target of Rs 1480 and stop loss of Rs 1425, says Hemen Kapadia, technical analyst, on CNBC

*Nifty (spot 5278): 1st Res: 5295-5305, 2nd res: 5330-5335, 1st Sup: 5252-5262, 2nd Sup: 5200-5205.

*icici call Buy BHATE (Bharti Airtel) CMP 333.3 Target 339 and 341 StopLoss 330

*Premium running 27 to 28 rs + cur off for DB CORP