Economic Business

Economic Times

Business Standard
Ø  Rajan warns of action against banks hiding NPA nos

Ø  Oil price unlikely to recover as Saudi refining hits market

Ø  FSSAI-approved lab finds Maggi noodles safe

Ø  Adani to announce JV worth $5 bn with Foxconn

Ø  No decision yet on Cairn-Vedanta deal: UIICL

Ø  I-T Dept searches 20 premises of Claris Lifesciences

Ø  RBI leaves repo rate unchanged at 7.25%

Ø  RBI, govt in talks on medium term framework for FPI limit in debt

Ø  Klesch Group drops plans to buy out Tata Steel unit

Ø  Coal imports drop by 11% to 19 MT tn in July

Ø  UK takes 1 billion pounds hit in RBS sell-off

Ø  AIG profit beats estimates, boosts buyback by $5 billion

Business Line

Mint
Ø  RBI Governor bats for shifting veto power to monetary policy committee

Ø  Bharti Airtel Q1 net up at Rs 1,554 cr

Ø  US restores duty benefits to Indian exporters

Ø  No plan to hike duty on petroleum products: Pradhan

Ø  Over 3,500 tonnes plastic waste generated daily

Ø  FinMin moves Cabinet note on gold monetisation scheme

Ø  Govt may raise Rs40,000 crore via bonds from LIC

Ø  Thomson re-entering India market after 11 years

Ø  Sunteck Realty keen to buy distressed assets from rivals

Ø  Jay Shree Tea to sell sugar and fertilizer businesses

Ø  Sony to start manufacturing Bravia TVs in Tamil Nadu

Ø  Birla in talks with PE firms to sell insulator unit

Financial Express

Financial Chronicle
Ø  Monsoon, US Federal Reserve impact next trigger for rate cuts: Moody's

Ø  Govt mulls selling 3 per cent stake in GAIL to raise Rs 1,800 crore

Ø  Reliance MediaWorks concludes multiplex sale, debt cut by Rs 700 crore

Ø  Steel shares jump on likely import duty hike

Ø  Vedanta Resources bets on India for future growth

Ø  Rajan links more easing to lower bank rates, monsoon, inflation

Ø  RBI may cut interest rates before next policy: Rajan

Ø  CCI charges SMTB with violating competition norms

Ø  SC defers hearing, FIIs wait gets longer on MAT clarity

Ø  China footwear biz shrinks, India gets a foot in the door

Ø  Arcelor Mittal expects India to be active on M&A in steel, mine

Market Update

Market Update:
Sgx Nifty +3 pts
Dow -47.51 pts ,Nsdq -9.84 pts , S&P -4.72 pts ,Bovespa -79 pts, Ftse -2 pts , Dax +12 pts, Cac -8 pts, Nikkei  -2 pts , now, Crude @ $45.89/brl (+0.15), Brent @ $50.12 (+0.13) , Gold @ $1086.00 (-4.70), Silver @ $14.53 (-0.03), Euro @ $1.0874, JPY @ $124.3200, INR @ $63.7525

Topay's Key Result 5th Aug

Topay's Key Result
5th Aug

Accelya Kale,Asahi India, Auto Axles,Bata India, Bengal&Assam,Bombay Burmah,Brigade Ent,Camlin Fine,Can Bank,Deepak Fert,Fdc,Glaxo Smith Cons,IGL,Jb Chem,Marico, Mercator,Mah Seam,Manali Petro,Nahar Spin,Ndtv, Parshvanath Dev,Prism Cem,Ptc Ind,Shree Cem,Siemens,Snowman Log,Sonata Soft,Stampede Cap,Tata Chem,Tree House,Uflex,Vardhman Tex

BUY UPL

BTST: BUY UPL @ 550-552 SL 545 TRG 565

BUY JINDALSAW

FOR 1 TO 2 DAYS: BUY JINDALSAW @ 83-83.5 SL 82 TRG 88

BUY LAOPALA

FOR 1 TO 2 DAYS: BUY LAOPALA @ 464-467 SL 461 TRG 495

BUY CANFINHOMES

Cash Intraday: BUY CANFINHOMES@816-818 SL 805.5 TRG 835

BOOK PROFIT

BOOK PROFIT IN BANKNIFTY 19500CE @ 168.4

BUY ASIANPAINT

Cash Positional: BUY ASIANPAINT @ 887-890.00 SL 875 TRG 917 (2-3 days)

BUY NSECALL NIFTY

BUY NSECALL NIFTY AUG 8600 @ 88-90 SL 82 TRG 115

BUY NSECALL BANKNIFTY

BUY NSECALL BANKNIFTY AUG 19500 @ 140-145 SL 127 TRG 205

weekly charts

On weekly charts, the prices are trading near the lower end of a long term trendline support. In last one year, prices have formed a complex corrective pattern and the wave counts indicate end of a corrective leg near the recent lows. Prices in last few days have been consolidating in a narrow range and breakout from the consolidation zone could lead to sharp pullback. Looking at above evidences, we believe the stock could move higher and retrace the recent corrective leg.

Buy Hindalco

Buy Hindalco at 107-106 Target 116 Stop Loss 102 (14-21 Sessions)

BOOK PROFIT

CASH POSITIONAL : BOOK PROFIT IN IBULHSGFIN @ 764.9

SELL NSEFUT STAR AUG

SELL NSEFUT STAR AUG @ 1238-1243 SL 1258 TRG 1200

FII Activity & Nifty View

FII Activity & Nifty View :

Yesterday, FII's were net buyers in cash market of worth Rs. 350 crores. Whereas, in Index Futures, their activity was quite, they sold of Rs 188 crores with fall in open interest, suggesting long unwinding in last trading session.

In Index options front, FIIs were net buyer of Rs. 588 crores with rise in open interest. PCR-OI increased with rise in IV’s which indicates buying in
put options. We saw decent amount of buildup in deep out the money call options of 9000 strike. Whereas, in put options, 8200 and 8500 strikes added some open interest. Maximum buildup in current series in seen in 9000 call and 8200 put
options.

Seeing the overall data, we believe Nifty may strengthen from current levels, as too many long are in system. We are hardly seeing selling in Index Futures, in fact FII’s had formed reasonable fresh longs last week. We suggest to trade with positive
bias in market.

Market update

Market Update:
Sgx Nifty -6 pts
Dow -91.66 pts ,Nsdq -12.90 pts , S&P -5.80 pts ,Bovespa -726 pts, Ftse -7 pts , Dax +134 pts, Cac +37 pts, Nikkei  -51 pts , now, Crude @ $45.47/brl (+0.30), Brent @ $49.87 (+0.35) , Gold @ $1083.00 (-6.40), Silver @ $14.44 (-0.07), Euro @ $1.0935, JPY @ $124.0700, INR @ $64.0437

Indian Adr/Gdr

Infy:+0.30%,       Wit: -0.73%
Ttm:+0.07%,     Rdy:+1.32%
Hdb:+0.80%,      Ibn:+3.08%
SBID:+7.84%,  RIGD:+0.05%

Topay's Key Result
4th Aug

Bharti Artl(Cog Cons Est Net 1401cr +26% Yoy Res Time-After Mkt)
Astra Zen,Britania,Capital First,Dion Global,Eid Parry,EIH ltd,Future Life, Godrej Prop,Grindwell Nort,Hexaware, Hinduja Ven,Jayshree Tea,Jk Tyre,Kesar Ent,MM Forg,M ultibase,Noida Toll, Peninsula Land,Sundaram Clay,Tamil Petro,Torrent Pow,Tv Today

Today's Data Alert
4th Aug
Rbi Monetary Policy

Exp Interest Rate - Unchanged
srcs Cogencis

BUY INFY

BTST: BUY INFY @ 1086-1089 SL 1075=0 TRG 1125

Reliance Industries buy

Buy Reliance Industries at 1009 - 1003 Target 1080 Stop Loss 970 (14 - 21 Sessions)

Justification:
On June 18, 2015, the stock has given breakout from the ‘Inverse Head & Shoulder’ pattern in the daily chart with noticeable volumes. Then after, the stock rallied sharply to make a new 52 week high of `1067.85. From last few trading sessions, we are witnessing corrective price action in the stock, which is now taking support around the 38.20% retracement level of the upmove from `873.65 to `1067.85. Today, we are observing bullish move in the stock after the formation of couple of ‘Doji’ candles around the support zone. Since the momentum oscillator is placed positively, we are expecting the counter to cross recent highs.

Buy ICICI Bank

Short Term Delivery Call : Buy ICICI Bank @  307-308, Sl 302,  Target 330