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Morning Call
8 December 2011
Domestic Indices Close Prev.Close % Change
IT Stocks surge
Sensex 30 16877.00 16805.33 0.43
The S&P CNX Nifty gained 23 points and closed at 5069. Nifty 50 5062.60 5039.15 0.47
BSE Midcap 5771.80 5760.54 0.20
Shares of IT companies topped the nifty gainers list.
Wipro, HCL and Infosys posted 2% gains. BSE Smallcap 6207.90 6195.36 0.20
Many of the banking stocks snapped its winning streak Global Indices Close Prev.Close % Change
with IndusInd bank losing 4%.
Nikkei 8722.17 8575.16 1.71
L&T posted a percent gain as the company informed that HangSeng 19240.58 18942.23 1.58
it has secured orders aggregating Rs 2,697 crore across
FTSE 5546.91 5568.72 -0.39
various businesses during October and November 2011.
NASDAQ 2649.21 2649.56 -0.01
McNally Bharat Engineering Company surged 3.48% as DJIA 12196.37 12150.13 0.38
the company informed it has secured two construction
orders aggregating to Rs 143.63 crore.
Market depth Advance Decline Turnover(mn)
NSE 778 692 105,637.60
BSE 1451 1362 30,928.30
Currency Spot Close Prev.Close % Change
USD/INR 51.49 51.42 0.14
EURO/INR 69.07 68.92 0.22
JPY/INR 66.23 65.95 0.42
GBP/INR 80.38 80.19 0.24
Provisional (Cash)
Buy(mn) Sell(mn) Net (mn)
–BSE & NSE
FII’s (mn) 27,897.10 26,543.50 1,353.60
DII (mn) 91,130.00 11,014.10 -1,901.10
FII Derivative –
Buy (mn) Sell (mn) Net (mn)
NSE
Outlook INDEX FUT 20,058.17 14,660.10 5,398.07
U.S. indices closed near to where they began, with the IND.OPTIONS 159,480.05 155,208.44 4,271.60
Dow industrials posting modest gains to end at STOCK FUT 13,620.92 15,921.58 - 2,300.65
12,196.37.
ST. OPTIONS 2,573.84 2,490.46 83.38
Going ahead, in today’s trade Asian markets and the
SGX Nifty opened in the red. Indian markets are likely to Nifty
open on a soft note with negative bias. Nifty Gainers % %
Losers
RCOM 4.01 NTPC -3.92
WIPRO 3.29 BHARTIARTL -3.56
Index S1 S2 PIVOT R1 R2 HCLTECH 2.35 COALINDIA -2.97
NIFTY 5029 4997 5064 5096 5131 INFY 2.07 SUNPHARMA -2.74
RELINFRA 2.00 SESAGOA -2.50
Market News
Domestic ADR
India's slowing growth and rising subsidy bill are seen ADR % Change ADR % Change
impacting the country's fiscal deficit, the government had
earlier estimated fiscal deficit to remain at 4.6 per cent of the HDFC Bank -0.97 Satyam -1.18
GDP, but declining growth in tax receipts and its failure to ICICI Bank -0.78 Tata Comm -0.91
raise funds through stake sale in state-run firms have hit its Infosys Tata Motor
0.27 0.16
fiscal calculations. Private economists expect fiscal deficit to
cross 5.6 per cent of the gross domestic product in the Dr Reddy -1.19 Wipro 0.10
current fiscal year.
Commodities
Global Commodities Close Prev.Close
%
Change
Standard & Poor’s informed the European Union’s AAA WTI Crude 100.55 100.96 -0.41
long-term rating and some of the region’s biggest financial Gold $/oz 1735.50 1708.00 1.61
institutions could be downgraded.
Silver $/oz 32.45 31.85 1.88
Copper $/m tonne 7782.50 7837.50 -0.70
Aluminium $/m tonne 2079.50 2107.00 -1.31
Corporate Buzz
Bulk Deals - Buy
Larsen & Toubro Construction (L&T) has bagged new
orders worth Rs 2,700 crore across various businesses in
last two months. The buildings and factories segment
Security Value
secured orders worth Rs 1,109 crore for construction of name
Client name Quantity Price
(mn)
residential complex and a warehouse. The infrastructure
division secured orders worth Rs 353 crore for construction
of viaduct and two station buildings of Kolkata metro. Cairn Sesa Goa
24,307,241 325 7899.85
India Limited
Coal India (CIL) has lowered its production target for the
ongoing financial year to at least 440 million tonnes from the
estimate of 452 million tonnes in its annual plan. Natco Dilip s.
725,000 253 183.43
Pharma Shanghvi
Moser Baer Clean Energy, the renewable energy vertical of
Moser Baer India, informed it is investing $1 billion (Rs
5,100 crore) for setting up solar projects with a cumulative Bulk Deals - Sell
capacity of 300 MW in the country and abroad in the next
nine months. These projects would be set up in Gujarat,
Orissa, West Bengal and Rajasthan in India, as well as
Security Value
abroad in countries like Germany, Italy, and the UK. Name
Client Name Quantity Price
(mn)
Suzlon Energy received approval from the South African Cairn Cairn UK
28,807,241 325 9362.35
Government to supply wind turbines for the upcoming India Holdings
Cookhouse Wind Energy Facility at Eastern Cape. Orange
Natco
Mauritius 725,000 253 183.43
Pharma
Investments
SKS Microfinance plans to raise a maximum of Rs 500
crore through a share sale to institutional investors by March
2012, The Company’s board had approved an enabling
resolution to raise up to Rs 900 crore last month.
TECHNICAL COMMENTARY
TRADING GUIDELINES
S1 S2 PIVOT R1 R2 • This model is based on the premise that the PIVOT is the
ACC 1200 1178 1215 1237 1252 most important price level that decides the intraday
AMBUJACEM 159 157 162 164 167 trend. Much like how the door or a window hangs by a
BHARTIARTL 370 365 380 385 395 hinge and sways in the wind, the intraday trend also
BHEL 286 283 289 292 295 hangs by this PIVOT LEVEL and swings because of the
BPCL 540 532 550 559 568 demand-supply, volatility and market sentiments
DLF 223 220 225 228 230 prevailing in the market. Hence its importance in
DRREDDY 1523 1499 1563 1587 1628 intraday trading.
GAIL 397 391 401 407 411
GRASIM 2400 2380 2435 2455 2490 • Wait for the market price to stabilize after opening in the
HCLTECH 411 403 416 424 430 first 30 minutes of trading.
HDFC 665 650 671 686 693
HDFCBANK 463 458 467 472 476 • Opening Price is considered around close of previous
HEROHONDA 2040 2027 2062 2076 2097 day. Avoid BUYING if prices open abnormally high and
HINDALCO 136 134 138 140 142 avoid selling if prices open too low.
HINDPETRO 287 280 292 298 304
HINDUNILVR 393 390 397 400 403
• If the market price is stable above the pivot level after
ICICIBANK 757 750 772 779 793
20-30 minutes of opening, then GO LONG and book
IDFC 116 114 118 119 121
profit near the resistant level (R1 & R2)
INFOSYSTCH 2715 2655 2744 2803 2832
• If the market price is stable below the pivot level after
JSWSTEEL 599 570 614 643 658
20-30 minutes of opening, then GO SHORT and book
KOTAKBANK 487 483 494 498 505
profit near the support level (S1 & S2)
LICHSGFIN 230 223 235 243 248
LT 1318 1299 1327 1345 1354
STOP LOSS: Since you are aware of the ʹpotential returnsʹ at the
M&M 752 745 757 764 770
time of initiating an intraday trade (difference between the entry
MARUTI 987 977 1001 1011 1025
price and profit targets), you should set up an appropriate STOP
ONGC 270 265 272 277 279
LOSS around 1% above / below of the trade price or a level
PNB 905 893 924 937 956
comfortable to you, to protect yourself if the market turns and
RANBAXY 433 430 438 442 447
goes against you.
RCOM 79 77 80 82 83
RELCAPITAL 306 303 310 314 318
ALTERNATE STRATEGY: If you have already initiated a trade
RELIANCE 802 794 811 818 827
with clear-cut profit targets and a stop loss level, and find
RELINFRA 413 406 417 424 429
during the course of the trading day that the market turns and
RPOWER 85 84 87 88 91
goes the other way and crosses the TREND LEVEL, then trade
SAIL 85 84 87 88 90
again: For instance, if your first trade was a LONG trade and the
SBIN 1922 1895 1941 1968 1987
market price drops through the TREND LEVEL to lower price
SESAGOA 185 183 189 192 196
levels, then GO SHORT and if your first trade was a SHORT
STER 107 104 109 112 114
trade and the market price rises through the TREND LEVEL to
TATAMOTORS 189 186 192 194 198
higher price levels, then GO LONG.
TATAPOWER 96 94 98 100 103
TATASTEEL 412 404 416 424 428
S1, S2 are the immediate support levels
TCS 1170 1162 1181 1189 1201
R1, R2 are the immediate resistance levels.
WIPRO 395 383 400 413 418
Cholamandalam Securites Limited
Member: BSE, NSE, MSE
Regd. Office: Dare House, 2 (Old # 234) N.S.C. Bose Road, Chennai – 600 001.
Website : www.cholawealthdirect.com
E-mail id – customercarewm@chola.murugappa.com
LOCATION BEM PHONE NUMBERS E-MAIL ID
AHMEDABAD Mr. swetal 079 - 64500318 / 19 dealerahmd@chola.murugappa.com
BANGALORE Mr. Sathyanarayana.N 080- 41503340 / 44 sathyanarayanaN@chola.murugappa.com
CHENNAI Mr. Baskaran S 044 - 26208911 / 14 baskarans@chola.murugappa.com
COIMBATORE Mr. Mohan V N 0422- 4292041 mohanvn@chola.murugappa.com
HYDERABAD Mr. Srinivasa Reddy D V 040- 23316567/68 srinivasardv@chola.murugappa.com
KOLKATA Mr. Kumar Gaurav 033- 44103638 / 39 kumargaurav@chola.murugappa.com
MUMBAI Ms. Sheetal Bheda 022 – 22617210 / 30729730 / 31 sheetalbheda@chola.murugappa.com
DELHI Mr. Maneesh 011 – 30461161/62/63/64 maneeshg@chola.murugappa.com
REGIONAL EQUITY MANAGER
CHENNAI Mr. Lakshmanan T S P 9840019701 lakshmanantsp@chola.murugappa.com
EAST & WEST Mr. Ananthanarayan J 9930103070 ananthanarayanj@chola.murugapa.com
SOUTH Mr. Shankar P V 9840494132 shankarpv@chola.murugappa.com
RESEARCH
Mr. Alagappan A Financial Services 044-3000 7363 alagappana@chola.murugappa.com
Mr. P.Vinayakam Power 044-3000 7266 vinayakamp@chola.murugappa.com
Mr. Sathyanarayanan M Information Technology 044-3000 7361 sathyanarayananm@chola.murugappa.com
COMPLIANCE
Mr.Balaji H Dy.Manager-Compliance 044 - 3000 7370 balajih@chola.murugappa.com
DISCLAIMER:
The research analyst who primarily responsible for this report certifies that: (1) all of the views expressed in this in this report accurately reflect personal personal opinions about
The research analyst who is is primarily responsible for this report certifies that: (1) all of the views expressed report accurately reflect his or herhis or heropinions about any and all
of the subject securities or issuers; and or issuers; of any ofno part of any of thecompensation was, is, or will be directly oris, or will related to the specific recommendations or views
any and all of the subject securities (2) no part and (2) the research analyst's research analyst's compensation was, indirectly be directly or indirectly related to the specific
recommendations or views expressed in this report. This report has been prepared on the basis of information that is already available in publicly accessible media or developed
expressed in this report. This report has been prepared on the basis of information that is already available in publicly accessible media or developed through analysis of Cholamandalam
through analysis of Cholamandalam Securities Limited. Cholamandalam Securities Limited makes every effort to use reliable, comprehensive information, but we make no
Securities Limited. Cholamandalam Securities Limited makes every effort to use reliable, comprehensive information, but we make no representation that it is accurate or complete.
representation that it is accurate or complete.
The views expressed are those of the analyst and the Company may or may not subscribe to all the views expressed therein Cholamandalam Securities Limited reserves the
right to make modifications and alterations to this statement as may be required from time to time without any prior approval. Cholamandalam Securities Limited, its
affiliates, directors and employees may from time to time, effect or have effected an own account transaction in or deal as agent in or for the securities mentioned in this
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advice of a financial advisor with regard to the appropriateness of investing in any securities / investment strategies recommended in this report. The appropriateness of a
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