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Daily Market Strategy - Turning hesitant

Anil Mascarenhas, Hemant P. Maradia / 08:25 , Feb 10, 2012

December IIP print is seen between 2.5% to 3.5%. This is slower than November’s reading of 5.9%. However, the markets may not get swayed much as the IIP data generally has been quite erratic.

“The serenity of mind, gentleness, silence, self-restraint, and the purity of mind are called the austerity of thought.” - Bhagavad Gita.

After a lot of wrangling, Greek political parties have reached a deal on new austerity measures necessary to secure international aid and avert a default. But, the Greek parliament needs to ratify the economic reforms. The news was confirmed by ECB President Mario Draghi, who left interest rates unchanged. Investors will continue to keep close tabs on events out of the euro area (Greece in particular).

The Bank of England kept rates steady but expanded the size of its QE program. The US labour market conditions continue to improve ever so slightly.

The opening today will be lower as Asian markets are mostly in the red. US stocks closed with slender gains as did their European counterparts.


December IIP print is seen between 2.5% to 3.5%. This is slower than November’s reading of 5.9%. However, the markets may not get swayed much as the IIP data generally has been quite erratic.

Globally, equities have got off to a strong start in 2012. So, don’t be surprised if market players turn a little hesitant in pushing stocks much higher.

Indian market resumed its ascent on Thursday after the initial jerk in opening trade. The Nifty closed above 5400. There could be further rise in the Nifty towards 5500 in the coming days, provided the FII inflows remain positive and global markets are supportive.

Trend in FII flows: The FIIs were net buyers of Rs 12bn in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers at Rs 10.37bn, as per the provisional figures released by the NSE.

The FIIs were net sellers of Rs 973.6mn in the F&O segment on Thursday, according to the provisional NSE data.

The foreign funds were net buyers of Rs 4.5bn in the cash segment on Wednesday, as per final SEBI data. Mutual Funds were net buyers at Rs 300mn on the same day.

Major Results Today: Apollo Hospitals, Aurobindo Pharma, BPCL, Britannia, DLF, Eros, Gammon Infra, GE Shipping, Hathway, Hotel Leela, IDFC, JSW Steel, Lovable Lingerie, MMTC, MTNL, Neyveli Lignite, Pantaloon, Pipavav Defence, Reliance Capital, RCOM, Shriram Transport, Sun TV, Tata Chemicals and Tata Power.

Global Data Watch: China's trade balance, UK PPI, Germany's CPI, Federal Reserve chairman Ben Bernanke's speech, US trade balance and US consumer sentiment.


Ten Most Active Futures

Symbol

No.of Cont Traded

Last price

Open Interest

% chg in Op.Int

HINDALCO

29,160

159.95

20308000

6.38

TATASTEEL

27,243

453.35

15459000

4.52

ICICIBANK

25,326

945.05

12495750

-0.45

SBIN

23,175

2,188.50

7129375

2.05

DLF

18,300

234.40

20936000

7.79

TATAMOTORS

17,416

258.55

45048000

3.21

RELIANCE

14,734

859.75

11382500

2.95

AXISBANK

13,670

1,134.50

8356250

1.07

RELCAPITAL

13,176

425.50

3723000

-2.18

HDIL

13,172

98.35

14328000

-10.85

TEN MOST ACTIVE OPTIONS


Option Type

Strike price

No.of Cont Traded

Open Interest

% Chg in Op.In

TATASTEEL

CE

460

4,707

857500

34.62

HINDALCO

CE

160

4,684

1252000

20.62

TATASTEEL

PE

440

4,142

961000

41.22

SBIN

CE

2,200

4,034

273250

-14.21

ICICIBANK

CE

940

3,709

642250

117.90

HINDALCO

PE

150

2,826

1492000

11.68

TATASTEEL

CE

480

2,771

976000

10.10

BHARTIARTL

CE

360

2,747

1244000

83.48

HINDALCO

CE

170

2,711

1164000

65.81

SBIN

CE

2,300

2,613

357375

33.85

SUPPORT & RESISTANCE LEVEL

Company Name

S3

S2

S1

Close

R1

R2

R3

Sensex Index

17,653

17,696

17,742

17,831

17,920

17,966

18,009

Nifty Index

5,357

5,370

5,384

5,412

5,440

5,455

5,468

ABB Ltd

860

862

865

870

874

877

879

ACC

1,365

1,371

1,377

1,389

1,401

1,408

1,414

Ambuja Cements

174

175

176

178

180

181

182

Bajaj Holdings

736

740

744

753

762

766

770

BHEL

258

259

260

262

264

265

266

Bharti Airte

344

345

347

350

353

355

357

Cipla

348

349

350

352

354

355

356

Dabur India

97

97

98

98

99

99

100

GAIL India

383

384

386

389

392

394

396

Grasim Ind.

2,773

2,786

2,800

2,826

2,853

2,867

2,880

HCL Tech

457

458

460

463

467

469

470

HDFC Bank

509

512

516

523

529

533

536

Hero Honda

1,951

1,962

1,973

1,994

2,015

2,026

2,036

Hindalco

150

153

155

159

163

166

168

Hindustan Unilever

387

389

390

393

397

398

400

ICICI Bank

919

924

929

940

950

956

961

Infosys Tech

2,750

2,765

2,780

2,810

2,840

2,855

2,869

ITC Ltd

202

202

203

204

205

205

206

L&T

1,334

1,339

1,345

1,355

1,366

1,371

1,376

MTNL

29

29

29

29

29

30

30

M&M

686

690

694

702

710

715

719

Maruti Suzuki

1,254

1,258

1,262

1,270

1,278

1,282

1,286

Mahindra Satyam

70

71

71

72

73

74

75

National Alumin

59

60

61

63

65

66

67

ONGC

276

277

279

281

284

285

287

Oriental Bank

293

294

295

298

301

302

304

PNB

983

987

992

1,001

1,009

1,014

1,018

Ranbaxy Labs

447

448

450

452

454

455

456

Reliance Capital

412

415

419

425

431

435

438

Reliance Comm

93

93

94

95

96

97

98

Reliance Energy

583

585

588

593

598

601

603

Reliance Inds

842

845

848

854

860

863

865

R Power

103

104

105

107

109

110

111

Siemens India

785

789

793

801

809

813

817

SBI

2,161

2,167

2,172

2,184

2,196

2,201

2,207

TCS

1,200

1,207

1,214

1,229

1,243

1,251

1,258

Tata Motors

250

252

254

257

261

263

264

Tata Power

107

108

109

111

113

114

115

Tata Steel

443

445

447

452

457

459

462

Tata comm

221

221

222

224

226

227

227

Wipro

432

436

439

446

452

456

459

Wire And Wireless

7

7

7

8

8

8

8

Zee Entertainment

124

125

126

128

130

131

132


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