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Wednesday, May 31, 2006

INDIAN SHARE SCENARIO 31.05.2006

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BSE for Sensex movements and Stock market updates.
NSE Nifty for latest updates and announcements.
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SHARE NEWS 31^st May 2006

SENSEX SHOWS SIGNS OF ANOTHER DOWNSLIDE AFTER A GRADUAL UPMOVE. SENSEX CLOSED AT 10787 A FALL OF 67 POINTS AT THE CLOSE.

NIFTY SHED 30 POINTS TO CLOSE AT 3185.

AUTO STOCKS FELL DUE TO CONCERNS OVER RISE IN FUEL PRICES TO ANNOUNCED BY GOVT. SHORTLY AND ALSO INCREASING INTL. OIL PRICES.

CEMENT AND METAL STOCKS TOO FELL SHARPLY.

IT AND CONSUMER GOODS STOCKS PUSHED UP THE INDEX MODERATELY.

MARKET ANALYSIS

The market appears poised for the resumption of the downtrend that was witnessed in the previous week. The technical picture of some of the key stocks is not looking good and this could have an impact on the index. Given the current view, it may be prudent to lighten long positions on upmoves and short sell weak counters on upmoves.

The low consumer confidence index numbers spooked sentiment in the US markets and the spill over is likely to be felt in the emerging markets too. Traders may ride the negative sentiment with sell positions accompanied by trailing stops.

INDEX MOVEMENTS

The Nifty closed below the 5-DMA making it susceptible to a slide to 3140, the support level. The momentum too has turned weak. Short term charts too indicate weakness creating the probability of the index moving lower to 3013 in the near term. Up moves are likely to face resistance near 3252.

A drop below 4274 is likely to put the Bank Nifty on a downtrend. A close below this level could see the index test the previous bottom at 3972.

MARKET NEWS

· Blue Dart adds 2 Boeing 757s to its fleet

· Ipca Labs Q4 net up 23% yoy

· Rajesh Exports FY 06 net up 54.4% yoy

· Tata Power Q4 net down 19%

· M&M Q4 net below forecast, costs rise

· L&T plans 5 billion rupee spend on new Coimbatore unit

· Sundaram Fasteners to set up unit in Uttaranchal

· Hero Honda Q4 net rises 29%, beats forecast

· Tata Coffee to tie- up with Beeyu Overseas

DELIVERY PICKS

*SCRIP*	*BUY ABOVE*

MID CAP STOCKS

*SCRIP BUY*	*ABOVE*

SMALL CAP STOCKS

*SCRIP*	*BUY ABOVE*

LIQUIDATE

*SCRIP*	*SELL BELOW*
*AUROBINDO PHARMA*	*599.00*
*BAJAJ AUTO*	*2800.00*
*BANK OF BARODA*	*231.00*
*BONGAIGOAN REFINERIES*	*58.50*
*COLGATE*	*371.00*
*MTNL*	*165.50*
*SCI*	*140.00*
*TATA STEEL*	*540.00*
*TATA TEA*	*715.00*
*VSNL*	*397.00*

FUTURE OPTIMISM

*SCRIP*	*VIEW*	*STRATEGY*
*ARVIND MILLS FUTURES*	*BEARISH*	*SELL < 78.20 TARGET 74 – STOP > 82.60*
*SRF FUTURES*	*BEARISH*	*SELL < 228 TARGET 219 – STOP > 237*
*TCS FUTURES*	*BEARISH*	*SELL < 1840 TARGET 1800 – STOP > 1880*

CASH MARKET – SHORT TERM

*SCRIP*	*VIEW*	*STRATEGY*
*CIPLA*	*BULLISH*	*BUY @ 238.50 TARGET 242 – STOP < 234.40*
*OBC*	*BEARISH*	*SELL @ 212 TARGET 209 – STOP > 215.10*
*RANBAXY*	*BEARISH*	*SELL @ 419.75 TARGET – STOP > 424.25*

Courtesy: Prognosis Consultancy Services

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Friday, May 26, 2006

INDIAN SHARE MARKET SCENARIO 26.05.2006

Hi to all,

BSE for Sensex movements and Stock market updates.
NSE Nifty for latest updates and announcements.
The Hindu - Indian National Newspaper.
Tamil Daily - Dina Thanthi - Tamil Newspaper - Tamil Nadu.
Yahoo Mail! to sign into your yahoo mail account.
Google News is a online automated updated news site.
Shopping Froogle shopping site.
Free Downloads downloads site Softpedia.com.
Home Page Blogger
Make a visit to Shank’s Home Page

SHARE NEWS 26th May 2006

MARKET ANALYSIS

The smooth expiry of the May F&O contracts should be a welcome relief for the markets. The market underwent huge volatility during the last two weeks and the fact that the expiry was smooth indicates that most of the leveraged positions have been closed out. This should provide room for creation of fresh long positions and in turn the market could move up. But traders may bear in mind that such a move may not be a part of the trend. After such a huge masaccre, the market could take time to consolidate before beginning a sustainable move. Therefore traders may have to resort to periodical profit booking.

INDEX MOVEMENTS

The Nifty is likely to follow a range bound movement between 2997 and 3250 where contrarian trading could be adopted. On surpassing 3250 it is likely to head towards 3354. The bulls can expect a sustained upmove on a close above 3250.

The Bank Index could be expected to move up to 4378 in the next few sessions. Long positions may be contemplated at current levels for a move to this level.

A close above 3987 would signal the return of a bullish phase for the CNX IT. Traders may take a call on the index depending on whether the index is able to close above this level or not today.

MARKET NEWS

· SAIL FY06 net down 41% yoy, to raise 06/07 output by 1 million tonnes

· L&T’s Q4 net spurts 40%

· Tata Motors to treble capacity at Lucknow plant

· Karur Vysya Bank to issue 1:1 bonus

· AGB Shipyard Q4 net up 153.6% yoy

· Lupin to acquire Dafra Pharma, Belgium

· UBS maintains year end target of 11400 for Sensex

· Abhishek Industries Q4 net profit at Rs.17.5 crores

· Indraprastha Gas Q4 net at Rs.29.5 crores

· Thermax Q4 net profit up at Rs. 42 crores