Sensex (10812) SUPPORT-10751-10680-10605 RESISTANCE-10884-10960-11078 Sensex is moving in narrow band and with lackluster volumes due to heavy rains and few international events. Sensex has to trade above 10892 to have a positive close and BHEL bonus and stock spilt decision would give good movements.
8dma=10799 13dma=10621 21dma=10589 34dma=10532 55dma=10336 OPEN=10863 HIGH=10869 LOW=10780 BSE adv: 1156 dec: 1239 -vol-rs.2041crs
Fiis seller rs.47crs and Mutual funds buyer rs.77crs on Friday, Fiis buyer rs.606crs in August month and buyer rs.13353Crs in 2006, mutual fund buyer rs.32crs in August month. F&O DATA Fiis sell rs.422crs in nifty future and sell rs.64crs in stock future on 7th August and provisional Fiis buy in cash rs.122crs source NSE website
Day That Ended: Markets lacked volumes due to heavy rains in Mumbai, Fiis & MF have turned net buyer in cash segment which is a good sign. Crude $76.78 is a big negative factor and the rise in price is after BP Plc said it will shut Alaska's Prudhoe Bay field, the largest in the U.S., to fix pipeline corrosion. BANKING was one sector which gained in weak markets after rate hike by many PSU banks. International markets U.S markets has closed weak and Indian ADRs also closed flat to negative EURO markets closed in deep red while now ASIAN markets have opened strong and looking positive.
Outlook for Tuesday: one more day of flat trade and chance of big upmove in the last one hour of trade possible. Advance decline ratio suggest that more of small and Midcap stocks are in action and one should stick to basic when investing and pick good long term so that liquidity is easy to come.
STOCK TECH views: ROLTA has given a breakout so can enter the stock near rs.172-174 and have a stop loss at rs.166 and aim for 10-15% profit. BHEL this stock should trade above rs.2200 otherwise profit booking would come and support comes near 2090 levels.
Counter view: India to grow we need clear policy directive which is now missing and we need a far sighted policy like china or other developing countries have adopted for growth and which is very successful for so many years now, we cant be changing policies for short term goals and miss our long term growth for electoral political gains. BANKS rate hike where cost of borrowing has gone up and FM says to rollback or freeze rate hike for Psu banks this media has discussed in length. OIL minister saying no subsidiary for private oil companies, but oil marketing was opened up for private players few years back and OILPSU also were given free pricing which gave a level playing field for everyone and private players started to open pumps and due to high crude price and more taxes and no hike in prices started to effect oil marketing companies and OILPSU are compensated with oil bonds and private companies denied when u open a sector and allow competition and allow private sector they come with huge investment to make profit .There is one more data which suggest that diesel and petrol smuggling is very rampant in west coast big price disparity due to high taxes is the reason, So govt is losing revenue on one side and on the other side is sending wrong signal to private investments and there is always better ways to manage things, LPG prices have not been hiked for many years and 80% of the users are rich.
NEWS:
http://www.capitalmarket.com Tulip IT Services has announced that it has entered into an agreement with NTT Communication India (NTT) to provide connectivity services on Tulip's MPLS network to NTTComs global customers based in India. The agreement is valid for one year and is renewable. Gateway Distriparks is in talks with leading foreign shipping companies to set up a mega rail container hub at Garhi Harsaru near Gurgaon. The company will invest over Rs 200 crore in its existing container depot facility at Garhi Harsaru to develop into a mega rail-linked container depot. The company may increase the frequency of services for both imports and exports from and to Jawaharlal Nehru Port Trust.
http://www.businessstandard.com British oil giant BP said it had begun shutting down the Prudhoe Bay oil field in Alaska after discovering a small pipeline spill in a move that will cut production by 400,000 barrels per day. Sebi to issue policy statement on short selling. Aban Loyd Chiles Offshore said that its rig Aban VII has received a notification of award (NOA) for the development at Offshore Qatar from ONGC Videsh (OVL) for approximately four months. Banking stocks bounced back on Monday, with three of the four public sector banks whose boards met yesterday sticking to their decision on rate hikes.
http://www.financialexpress.com The United States will review whether to withdraw longtime trade benefits for India, Brazil and 11 other advanced developing countries, U.S. trade officials said on Monday. Mahanagar Telephone Nigam Ltd (MTNL) will apply for licences for circles other than Delhi and Mumbai if the department of telecommunications (DoT) decides favourably on the Bharat Sanchar Nigam Ltd’s (BSNL) application for licences for Delhi and Mumbai circles.
http://www.thehindubusinessline.com Kotak Securities is offering investors the privilege of a flat fee for shares purchased by them, the company said here on Monday. Labelled `Kotak Flat', the fixed fee-based brokerage model is offered for its Internet-based traders and customers. Areva T&D India, provider of products, systems and services to the electric transmission and distribution industry, has bagged a contract to establish the national load dispatch centre (NLDC) in New Delhi for Power Grid Corporation of India Ltd.
http://economictimes.indiatimes.com Avg Chandigarh resident earns Rs 1.09 lakh/ month Chandigarh pips all big metros in the country. The Union territory’s consumers are not just the most richest (on per capita income), but also the biggest spenders (per capita expenditure) amongst the top 50 cities in India. Why, the city even comes second to Thiruvananthapuram on per capita savings, proving that consumption and profligacy are not necessarily interchangeable in the Indian context. Software industry PAT rises 55% in Q1.
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Disclaimer: trade in stock market is high risk& high return and I do not accept any financial and/or legal responsibility arising the use of the information this is no offer to buy/sell jus my views to share.
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