BUY JINDALSAW 04/03/2011

BUY JINDALSAW :198-199 STOP-LOSS : 193 TARGET 208  CALL FOR DAY TRADERA

BUY VOLTAS(500575) : 04/03/2011

BUY VOLTAS(500575): 162-163 STOP-LOSS:158 TARGET:173-TGT2:179.20  FOR 2-3 DAY CALL FOR POSITIONAL  

BANKNIFTY FOR SUPPORT 04/03/2011

BANKNIFTY (2nd Resistance) 11287.33
(1st Resistance) 11117.32
Pivot point 10949.98
(1st Support) 10779.97
(2nd support) 10612.63

NIFTY FOR SUPPORT 04/03/2011

 NIFTY (2nd Resistance) 5660.43
(1st Resistance) 5602.57
Pivot point 5539.93
(1st Support) 5482.07
(2nd support) 5419.43

FII DII DATA 04/03/2011

Net Index Futures (200), Net Stock Futures (-531), Derivative Market: Total Open Interest (Rs 1,23,059cr), Stock Futures Open Interest (Rs 29,816cr)

Indian ADRs Update 04/03/2011

INFOSYS Up 1.6 (2.3%), WIPRO Up 0.8 (6.4%), ICICI BANK Up 1.6 (3.7%), HDFC BANK Up 5.1 (3.4%)

Global Markets update 04/03/2011

DJIA Up 191 (1.6%) NSDQ Up 51 (1.8%) FTSE 100 Up 90 (1.5%) Asian Markets as on 8.45 AM  NIKKEI Up 165 (1.56%) HANG SENG Up 314 (1.36%) SGX NIFTY Up 46

BANKNIFTY FOR SUPPORT 03/03/2011

BANKNIFTY (2nd Resistance) 11214.97
(1st Resistance) 11065.93
Pivot point 10792.97
(1st Support) 10643.93
(2nd support) 10370.97

NIFTY FOR SUPPORT 03/03/2011

 NIFTY (2nd Resistance) 5671.28
(1st Resistance) 5607.57
Pivot point 5491.28
(1st Support) 5427.57
(2nd support) 5311.28

BUY RELCAPITAL(500111) 03/03/2011

BUY RELCAPITAL(500111): 483 STOP-LOSS:479 TARGET:494-TGT2:502 

CALL FOR INTRADAY  TARGET

FII DII DATA 03/03/2011

FII Data: Net Index Futures (1606), Net Stock Futures (391), Derivative Market: Total Open Interest (Rs 1,19,360cr), Stock Futures Open Interest (Rs 29,641cr)

Global Markets update 03/03/2011

 DJIA Up 8.8 (0.1%) NSDQ Up 10.7 (0.4%) FTSE 100 Down 21 (0.4%) Asian Markets as on 8.45 AM  NIKKEI Up 55 (0.5%) HANG SENG Up 77 (0.33%) SGX NIFTY Down 63

Indian ADRs Update 03/03/2011

INFOSYS Down 0.6 (1.0%), WIPRO Down 0.1 (0.7%), ICICI BANK Up 0.0 (0.0%), HDFC BANK Up 0.8 (0.5%)

BANKNIFTY FOR SUPPORT 01/03/2011

BANKNIFTY (2nd Resistance) 10966.27
(1st Resistance) 10704.63
Pivot point 10537.82
(1st Support) 10276.18
(2nd support) 10109.37

NIFTY FOR SUPPORT 01/03/2011

NIFTY (2nd Resistance) 5571.2
(1st Resistance) 5454.6
Pivot point 5382.3
(1st Support) 5265.7
(2nd support) 5193.4

FII DII DATA 01/03/2011

 Net Index Futures (1,104.53), Net Stock Futures (472.05), Derivative Market: Total Open Interest (Rs 1,10,747cr), Stock Futures Open Interest (Rs 28,174cr)

Indian ADRs Update 01/03/2011

INFOSYS Down 0.6 (1.0%), WIPRO Down 0.1 (0.9%), ICICI BANK Down 0.5 (1.2%), HDFC BANK Up 1.2 (0.8%)

Global Markets update 01/03/2011

DJIA Up 96 (0.8%) NSDQ Up 1.2 (0.0%) FTSE 100 Down 7.2 (0.1%) Asian Markets as on 8.45 AM  NIKKEI Up 73 (0.7%) HANG SENG Down 32 (0.1%) SGX NIFTY Up 41

Budget 2011 Highlights5

• Gross tax receipts seen up 24% yoy to Rs9.32lakh crores
• Non-tax revenue seen at Rs1.25lakh cr in FY2012
• Fiscal deficit down from 5.5% to 5.1%. Target of 4.6% for FY2012 - positive for markets
• FY2013 fiscal deficit target of 4.1%
• Increase in income-tax exemption limit from Rs1,60,000 to Rs1,80,000
• Senior citizen age decreased from 65 to 60. Exemption limit increased to Rs2,50,000 from Rs2,40,000
• Surcharge on companies reduced from 7.5% to 5% - positive for tax-paying companies
• Investment link deduction for fertiliser companies, Positive for all fertiliser companies
• Branded Jewellery to attract additional 1% excise duty, Negative for Titan
• Micro-irrigation equipment to have lower excise of 5% from 7.4%, Positive for Jain Irrigation
• Central excise duty retained at 10%, Positive for Automobile sector
• Export duty on iron ore, Current - 15% on lumps and 5% on fines, Proposed - 20% on both lumps and fines, Negative for exporting miners - Sesa Goa and NMDC
• Change in excise with AD valorem duty, Negative for South based cement players - India Cement and Madras Cement
• Excise duty exemption on equipments for UMPP - Positive for capital goods sector
• No excise duty on equipment (UMPP), Positive for private players

Budget 2011 Highlights4

• Higher production land allocated for Palm oil production - positive for HUL & Godrej Consumer; nutri seeds and fodder production - positive to bring down raw material inflation for FMCG companies
• Fertilizer capex given status of infrastructure - positive for existing fertilizer companies
• Plan to introduce Food Security Bill in FY2012
• Allocation to Bharat Nirman increased to Rs58,000cr, an increase of 20.8% over FY2011
• Increased Infrastructure fund to Rs214,000cr up by 23.3%, Positive for Cement Sector
• Increase in wages under NREGA - positive for FMCG companies as it results in higher spending power for rural consumers
• Increased allocation for Accelerated Irrigation Programme - positive for companies providing irrigation solution viz. Jain Irrigation, EPC
• Education sector allocated Rs 52,057cr for FY2012 - to boost business opportunities for IT-education companies