Previous Post on SINTEX: http://tanmaygopal.blogspot.com/2009/08/sintex-cmp-rs-217-buy-around-rs.html
Monday, September 13, 2010
Update on SINTEX
SINTEX we had a buy call since Rs 217 for target Rs 400. It was an investment call given on 5 Aug 2009 and now after 13 months we see 79% returns. This is an update for the same.
SINTEX trades at Rs 390 and our target is almost achieved. The stock has seen fresh long position with +8% Open interest built up and price higher by 2.5% and volumes higher by +252% and stock from start of the settlement has seen +8% price change and +31% higher O.I. Stock has made 52week high Support 20DMA Rs 366 higher side Rs 405-420 can be targets for short-term traders. Slowly one can take profits in this stock as our long term targets are met.
Previous Post on SINTEX: http://tanmaygopal.blogspot.com/2009/08/sintex-cmp-rs-217-buy-around-rs.html
Previous Post on SINTEX: http://tanmaygopal.blogspot.com/2009/08/sintex-cmp-rs-217-buy-around-rs.html
Weekly Nifty Update 11 Sept, 2010 by Tanmay G Purohit
Nifty has closed the week on a very positive note up 161 points at 5640 and the week was dominated by METAL and CEMENT stocks – TATA STEEL, ACC, AMBUJA rose more than 8% each while IDEA CELLULAR went up by 7%. SBI and HINDALCO too inched up by 7%. Adv-Dec ratio was favourable to advances but some Nifty stocks were under pressure – POWERGRID, CAIRN lost nearly 3% while BPCL, RELINFRA were other losers.
IIP data for July 2010 was much better than expected as Industrial production grew 13.8% against 5.8% in June 2010 and it was 7.2% in July 2009. Manufacturing sector clocked the strongest growth of 15% and Cap Goods sector rose 63%. Now experts are more confident about further RBI rate hikes and the central bank is scheduled to meet on 16 September where 25bps hike in repo and reverse repo is widely anticipated by economists.
Not only will we have RBI move on interest rates next week but also Advance Tax payments for Q2 will be known. After such a bright IIP and GDP Data, Adv Tax is one more number and then Q2 results would dominate the market trend. Agri commodity stocks are witnessing a good rally after shortage of Wheat globally and the commodity is rising while fertilizer stocks look good for more gains from here. Market is overvalued and flow of advance tax numbers has to support. Mumbai High Court verdict on Hutch Vodaphone deal will have far-reaching implications as far as FDI, M&A and PE activity in India are concerned SESAGOA & CAIRN can become weak.
IT Sector Woes are far from over as The US state of Ohio has banned outsourcing of government IT and back-office projects to offshore locations such as India, raising fears of similar moves by other American states struggling to cope with high unemployment rates. Obama statement that tax breaks should go to companies that create jobs in the US and not overseas would hurt more.
Technical View:
After Breakout above 5520 Nifty has now closed at 32-month high and the market has given a direction; till 5500 below close is not seen weakness is not seen. Nifty long term moving average supporting market 200DMA which 5193 and 100DMA is 5287 any close below 5400 weakness will be high.
Support-5580-5525-5460 Resistance-5689-5738-5778
Stocks looking good: CHAMBAL, APIL
Stocks looking weak: CAIRN, SESA GOA
IIP data for July 2010 was much better than expected as Industrial production grew 13.8% against 5.8% in June 2010 and it was 7.2% in July 2009. Manufacturing sector clocked the strongest growth of 15% and Cap Goods sector rose 63%. Now experts are more confident about further RBI rate hikes and the central bank is scheduled to meet on 16 September where 25bps hike in repo and reverse repo is widely anticipated by economists.
Not only will we have RBI move on interest rates next week but also Advance Tax payments for Q2 will be known. After such a bright IIP and GDP Data, Adv Tax is one more number and then Q2 results would dominate the market trend. Agri commodity stocks are witnessing a good rally after shortage of Wheat globally and the commodity is rising while fertilizer stocks look good for more gains from here. Market is overvalued and flow of advance tax numbers has to support. Mumbai High Court verdict on Hutch Vodaphone deal will have far-reaching implications as far as FDI, M&A and PE activity in India are concerned SESAGOA & CAIRN can become weak.
IT Sector Woes are far from over as The US state of Ohio has banned outsourcing of government IT and back-office projects to offshore locations such as India, raising fears of similar moves by other American states struggling to cope with high unemployment rates. Obama statement that tax breaks should go to companies that create jobs in the US and not overseas would hurt more.
Technical View:
After Breakout above 5520 Nifty has now closed at 32-month high and the market has given a direction; till 5500 below close is not seen weakness is not seen. Nifty long term moving average supporting market 200DMA which 5193 and 100DMA is 5287 any close below 5400 weakness will be high.
Support-5580-5525-5460 Resistance-5689-5738-5778
Stocks looking good: CHAMBAL, APIL
Stocks looking weak: CAIRN, SESA GOA
Tuesday, September 07, 2010
ICSA - powering ahead
ICSA (Rs 133):- The stock for the last 12 months has underperformed the indices but now shows some accumulation as it has crossed 13, 26 and 50 DMA in just one session. Now crossing Rs 145 (200DMA) would be an important buy signal. Stock maintaining Rs 123 is important for any uptrend.
Buy Rs 130-132 for target Rs 145, keep stops below Rs 127
About The Company: http://www.icsa-india.com/index.htm
Book Values Rs 149 EPS Rs 25.05 P/E 5.3 FV= Rs 2/share
ICSA - India has rich experience in design and development of customized Infrastructure solutions, state-of-art embedded technologies and software applications for the power, oil, gas and water sectors. Our team of committed and highly qualified professionals with vast experience in industrial automation and execution of tailor made projects from the idea stage to its successful implementation. http://www.icsa-india.com/Solutions/overview.html
Sunday, September 05, 2010
Weekly Nifty Update 04 Sept, 2010 by Tanmay G Purohit
Nifty has closed 70 points higher this week at 5479 after once again maintaining crucial support at 5350. BHARTI AIRTEL, RANBAXY, TATA STEEL, UNITECH and RELINFRA rose more than 5% each to support Nifty while BHEL, HERO HONDA, SUN PHARMA were top losers. HERO HONDA fell on reports that Honda may exit the company soon. METAL stocks rose after steel companies raised prices of their products from Sep 1st. HOTEL stocks gained after RELIANCE bought stake in EIH – HOTEL LEELA +9%, IND HOTEL +5%, EIHAHOTELS itself rose 60% this week.
DTC-Direct Tax Code is very positive for stock market with long term capital gains tax nil, while IT industry is worst affected Software units under STPI scheme will be levied 30% corporate tax but DTC will be implemented later by one year in 2012 April by which time many changes will be made.
Indian GDP Growth for Q1 came in at 8.8% and as per that economy grew at its fastest pace in over two years in the April-June quarter but some economists have questioned the accuracy of the data while government has not revised the estimates even after many experts doubting the statistics. The HSBC Markit Purchasing Managers' Index , based on surveys of 500 companies in Asia's third-largest economy, fell to 57.25 in August from 57.6 in July, but remained well above the 50 mark that divides growth from contraction. India's manufacturing sector expanded for the 17th successive month in August, although at a slightly slower pace than in July, supported by strength in new orders.
Trade data for July which we have seen eariler July registers the largest trade deficit since Sep ‘08 of USD 12.93 bn as exports fell sharply and imports strengthened and cumulative trade deficit for April - July 2010 of USD 45.19 billion was much higher than the deficit of USD 30.84billon during April -July 2009.
Maintaining their bullish stance for the third month in a row, global fund houses made a net investment of Rs 11,687 crore ($2.5 billion) in Indian equities in August as per SEBI Data.
RAILWAY stocks KALINDEE and TEXMACO are moving now and both can give good short-term returns. GUJNRECOKE has moved up as DTC would benefit the company, IDBI, 3IINFO, FSL, GLENMARK also look good for traders. JSW ENERGY looks good as it trades near all time highs and Rs 148-150 can be possible soon. Underperforming stocks are becoming outperformers now – KPIT, TATA COMM, ONMOBILE moved last month and now ICSA, IDBI, TATA SPONGE, EKC, NHPC can move higher if markets support, 3i INFO and FSL are owned by ICICI Bank and they can be good investment candidates. SUZLON moved nearly 15% on Thursday on rumours that Reliance would buy stake in the company but later denied by both managements.
Technical View: Even though Nifty has closed positive for the week, for the last two sessions it has been unable to pierce past 5520 levels. If it continues to be resisted above 5500 and falls below 5400 we may even see 5100 being tested soon. Crossover of 5520 on sustainable basis is needed for further strength in market. Nifty still trades near resistance of up channel in weekly graph and as long as that is not crossed there is always a danger of falling down soon.
Stocks looking good: ICSA, CHAMBAL FERT,
Weak Stocks: BHEL, OFSS, ORCHID, SESA GOA, WIPRO
Supp 5430/5350/5200 Res 5522/5589/5680
DTC-Direct Tax Code is very positive for stock market with long term capital gains tax nil, while IT industry is worst affected Software units under STPI scheme will be levied 30% corporate tax but DTC will be implemented later by one year in 2012 April by which time many changes will be made.
Indian GDP Growth for Q1 came in at 8.8% and as per that economy grew at its fastest pace in over two years in the April-June quarter but some economists have questioned the accuracy of the data while government has not revised the estimates even after many experts doubting the statistics. The HSBC Markit Purchasing Managers' Index , based on surveys of 500 companies in Asia's third-largest economy, fell to 57.25 in August from 57.6 in July, but remained well above the 50 mark that divides growth from contraction. India's manufacturing sector expanded for the 17th successive month in August, although at a slightly slower pace than in July, supported by strength in new orders.
Trade data for July which we have seen eariler July registers the largest trade deficit since Sep ‘08 of USD 12.93 bn as exports fell sharply and imports strengthened and cumulative trade deficit for April - July 2010 of USD 45.19 billion was much higher than the deficit of USD 30.84billon during April -July 2009.
Maintaining their bullish stance for the third month in a row, global fund houses made a net investment of Rs 11,687 crore ($2.5 billion) in Indian equities in August as per SEBI Data.
RAILWAY stocks KALINDEE and TEXMACO are moving now and both can give good short-term returns. GUJNRECOKE has moved up as DTC would benefit the company, IDBI, 3IINFO, FSL, GLENMARK also look good for traders. JSW ENERGY looks good as it trades near all time highs and Rs 148-150 can be possible soon. Underperforming stocks are becoming outperformers now – KPIT, TATA COMM, ONMOBILE moved last month and now ICSA, IDBI, TATA SPONGE, EKC, NHPC can move higher if markets support, 3i INFO and FSL are owned by ICICI Bank and they can be good investment candidates. SUZLON moved nearly 15% on Thursday on rumours that Reliance would buy stake in the company but later denied by both managements.
Technical View: Even though Nifty has closed positive for the week, for the last two sessions it has been unable to pierce past 5520 levels. If it continues to be resisted above 5500 and falls below 5400 we may even see 5100 being tested soon. Crossover of 5520 on sustainable basis is needed for further strength in market. Nifty still trades near resistance of up channel in weekly graph and as long as that is not crossed there is always a danger of falling down soon.
Stocks looking good: ICSA, CHAMBAL FERT,
Weak Stocks: BHEL, OFSS, ORCHID, SESA GOA, WIPRO
Supp 5430/5350/5200 Res 5522/5589/5680
Wednesday, September 01, 2010
TATA SPONGE triangle breakout looks near
Group Companies - http://www.tatasponge.com/company/group-companies.asp
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