The markets are trading firm at the higher as sustained buying continues, its a smidge down from the high point of the day.After the Fed cut discount rate by 75 bps markets across globe have rallied. Asia is trading in green most with gains of over 1.5%, there are no runaway rallies seen.

It is the smallcaps that have underperformed a bit. Nifty has maintained 4650 and Sensex has latched on to 15300 levels. All BSE indices are trading higher. Power, banking, telecom and capital goods stocks are the star performers.

At 11.33 hrs IST, the Sensex is up 482.79 points or 3.25% at 15316.25, and the Nifty up 113.95 points or 2.51% at 4646.95.

About 1536 shares have advanced, 1432 shares declined, and 90 shares are unchanged.

JP Associates up over 7.8% followed by ICICI Bank and HDFC Bank up over 6%. SBI, Bharti Airtel, PNB, Tata Power, SAIL, L&T, RPL and RNRL were the major gainers.

In the global markets Asian markets were trading firm. Hong Kong's Hang Seng up nearly 3%, Japan's Nikkei up over 2%. Yesterday, Wall Street ran up their biggest one-day gains in more than five years following that interest rate cut. The rally was led by financials.

Mkt trades firm: Bank, realty, cap goods surge

The markets are trading firm at the higher level on buying seen in scrips across sectors. After the Fed cut discount rate by 75 bps markets across globe have rallied. All BSE indices are trading higher. Power, banking, telecom and capital goods stocks are the star performers.

Market breadth is very positive, NSE advance:decline ratio of 13:1. Midcap and small cap stocks have seen strong bounce back. BSE Midcap index is up over 3% and smallcap index is up nearly 3%.

Bankex is up over 5% followed by realty up 5%, capital goods and power index up over 3.5%.

At 10.29 hrs IST, the Sensex is up 530.72 points or 3.58% at 15364.18, and the Nifty up 132.70 points or 2.93% at 4665.70.

About 1787 shares have advanced, 1191 shares declined, and 80 shares are unchanged.

JP Associates up over 7.8% followed by ICICI Bank and HDFC Bank up over 6%. SBI, Bharti Airtel, PNB, Tata Power, SAIL, L&T, RPL and RNRL were the major gainers.

In the global markets Asian markets were trading firm. Hong Kong's Hang Seng added 3.61%, Japan's Nikkei gained 3.23%. Yesterday, Wall Street ran up their biggest one-day gains in more than five years following that interest rate cut. The rally was led by financials.
Mkts open strong mirroring sturdy global cues

The markets have opened on a strong note mirroring phenomenal rally in US markets as FOMC cut the Fed funds and discount rates by 75 bps. Asian markets are also supported this rally. All BSE indices are trading higher. Power, banking, telecom and capital goods stocks are the star performers in morning trade. Market breadth is very positive, NSE advance:decline ratio of 13:1. Midcap and small cap stocks have seen strong bounce back.

At 9:56 am, the Sensex was up 632 points at 15465 and the Nifty up 165 points at 4698. CNX Midcap gained by 241 points at 6,102.

SBI, Bharti Airtel, PNB, Tata Power, SAIL, L&T, RPL and RNRL were the major gainers.

The BSE Realty, Bankex, Power and Capital Goods indices were up nearly 4-6%. Oil & Gas, Metal, IT and Teck indices jumped over 3%.

Asian markets were trading firm. Hong Kong's Hang Seng added 3.61% or 772.85 points at 22,157.46. Japan's Nikkei gained 3.23% or 386.06 points at 12,350.22. Taiwan's Taiwan Weighted rose 2.04% or 164.32 points at 8,222.14. Singapore's Straits Times rose 2.05% or 58.15 points at 2,891.73. South Korea's Seoul Composite advanced 2.51% or 39.92 points at 1,628.67.

Wall Street ran up their biggest one-day gains in more than five years following that interest rate cut. The rally was led by financials. FOMC cut the Fed funds and discount rates by 75 bps; Fed funds rate now at 2.25% and the discount rate now at 2.50%. Dow added 420.41 points, or 3.51%, at 12,392.66. The Standard & Poor's 500 index gained 54.14 points, or 4.24%, at 1,330.74, and the Nasdaq composite index advanced 91.25 points, or 4.19%, to 2,268.26.

Market cues:

* Fed cuts Fed Funds Rate by 75 bps, discount rate by 75 bps
* FIIs net sell $ 156.8 m in equity
* MFs net sell Rs 100.5 cr in equity
* NSE F&O Open Interest down Rs 387 cr at Rs 63,949 cr

F&O cues:

* Futures Open Interest down by Rs 1,208 crore and Options Open Interest up by Rs 821 crore
* Nifty Mar Futures shed 44 lakh shares in Open Interest
* Nifty April Futures add 20 lakh shares in Open Interest
* Nifty Mar at 15-point premium, April at 2-point premium
* Nifty Open Interest Put-Call ratio at 0.83 Vs 0.85
* Nifty Puts add 4.8 lakh shares in Open Interest
* Nifty Calls add 11 lakh shares in Open Interest
* Nifty 4400 Put adds 3.3 lakh shares in Open Interest
* Nifty 4250 Put adds 2.3 lakh shares in Open Interest
* Nifty 4300 Put adds 1.2 lakh shares in Open Interest
* Nifty 4700 Call adds 4.2 lakh shares in Open Interest
* Nifty 4800 Call adds 2.2 lakh shares in Open Interest
* Stock Futures shed 1.3 cr shares in Open Interest

Source : MoneyControl

Pre-Fed jitters ruled the markets. The indices remained largely rangebound. Nifty closed at 4,533 up 20 points, while the Sensex shut shop at 14,833 up 24 points.

E Mathew of Mathew Easow Fiscal Services is positive on ITC, HUL and RPL.

“We may be in the process of bottoming out. We are taking all our cues from the Dow. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) went almost as high as 33, which is a clear indication that the volatility index is peaking out. It also points out that the Dow has already bottomed out, if it is not close to bottoming out. A lot of hope hangs out for the Nifty. If we are able to sustain above 4,530-4,540 in the near future, it may be a process of base-formation. If we plunge below the January lows again, we may be heading towards 4,200 or possibly lower,” said Mathew.

Here’s how E Matthew views the stock on board:

On ITC and HUL:

The charts have certainly shown strength and they didn’t really breakdown in this carnage also.

ITC has been far above the low of Rs 165-168, which it had touched on January 22. The stock has the potential to be a Nifty outperformer. If the Nifty starts moving up from here, we could see ITC go up all the way to Rs 204.

It is a buy on declines opportunity, as far as ITC and HUL are concerned.

On Orchid Pharma:

Most of the pharmaceutical stocks are looking good. Of course, Orchid Chemicals is an exception. Unfortunately, the incident in Orchid is being utilized as an opportunity to paint some of the smaller pharma companies with the same brush, which is not fair.

On Ranbaxy:

Ranbaxy is showing short-term weakness. But if it drifts by Rs 10-15 odd from the current levels, it would also qualify as a buy on declines rather than a sell on rise.

On RPL:

RPL was showing quite a lot of strength till yesterday. In this recent carnage, it went nowhere near the January 22 low. Today, some negative news did come. But in spite of that, the stock has got very strong support at the Rs 140-142 zone. This stock has potential if the Nifty is in the process of consolidating and it starts moving up. If it takes the positive cues globally, we could see Reliance Petro possibly move up to Rs 165 and beyond that all the way up to Rs 172-175.

On JP Associates:

If you compare JP Associates with RPL, is not showing that kind of strength. But having said, the stock has been extremely oversold. If one is looking for something like a trading bet, possibly at lower levels, if it comes down to about Rs 185 zone, keeping a stop loss of around about Rs 180 odd, one could take a short-term punt into this.

On Bajaj Hindusthan and Balrampur Chini:

Bajaj Hindusthan and Balrampur Chini qualifies as a buy on declines. In fact, Balrampur has got very strong support at around Rs 70-74 zone. That incidentally becomes your stop loss also. On a market sell-off, one could possibly accumulate the stock.

One could play for a bounce up all the way to the Rs 86-88 zone. That is the stiff resistance zone. Beyond that, one could look at Rs 95 too. As of now, Balrampur and Bajaj Hindusthan and the entire sugar sector is still not showing the sort of weakness which one is seeing in quite a few of the other sectors.

Disclaimer:

It is safe to assume that my clients and I may have an interest in the stocks/sectors discussed.

Source : MoneyControl

Technical Analyst, E Mathew is of the view that in case JP Associates stop loss should be kept at Rs 180.

Mathew told CNBC-TV18, "JP Associates if one compares it chartically of course with RPL, it is not showing that kind of strength but having said that I must say that the stock has been extremely oversold and I think if one is looking for something like a trading bet, possibly at lower levels may be if it comes down to round about the Rs 185 zone, keeping a stop loss of around about Rs 180 odd one could take a short-term put into this".

Disclosure: It is safe to assume that analyst & his clients may have an interest in the stocks/sectors discussed.

Source : MoneyControl

The markets have slipped and are trading in red with marginal losses. CNX midcap has given slipped deeper into the red. Bank, metal, realty stocks are among the top laggards on the indices. Selective buying is seen in energy stocks. Market breadth is On the global front, Asian markets are trading mixed.

At 11.30 hrs IST, the Sensex was down 46.06 points or 0.31% at 14763.43, and the Nifty down 10.30 points or 0.23% at 4492.80.

About 771 shares have advanced, 2199 shares declined, and 85 shares are unchanged.

Sterlite Ind was down over 8%, JP Associates, HDFC Bank, Tata Steel down over 4% each, HDFC, HCL Tech and M&M were among the other losers on boures.

JP Associates, Axis Bank, RNRL, Indiabulls Real Estate and ICICI Bank were most active shares.

Companies have paid advance taxes for the quarter ended March 2008. Mukesh Ambani's Reliance Industries paid Rs 443 crore versus Rs 118 crore YoY.

* Reliance Pays Rs 443 Cr Vs Rs 118 Cr (YoY)
* Tata Steel Pays Rs 300 Cr Vs Rs 350 Cr (YoY)
* Tata Motors Pays Rs 75 Cr Vs Rs 190 Cr (YoY)
* TCS Pays Rs 115 Cr Vs Rs 20 Cr (YoY)
* Indian Hotel Pays Rs 44 Cr Vs Rs 2 Cr (YoY)
* M&M Pays Rs 116 Cr Vs Rs 83 Cr (YoY)
* L&T Pays Rs 170 Cr Vs Rs 80 Cr (YoY)
* ICICI Bank Pays Rs 250 Cr Vs Rs 125 Cr (YoY)
* HDFC Bank Pays Rs 250 Cr Vs Rs 165 Cr (YoY)
* Bank Of India Pays Rs 191 Cr Vs Rs 150 Cr (YoY)
* Union Bank Pays Rs 130 Cr Vs Rs 100 Cr (YoY)
* Central Bank Pays Rs 220 Cr Vs Nil (YoY)
* Ambuja Cem Pays Rs 175 Cr Vs Rs 100 Cr (YoY)
* MRPL Pays Rs 100 Cr Vs Rs 20 Cr (YoY)

Mkts trade flat: Energy, cap goods gain; midcaps slip

The markets are trading higher with buying support from oil, telecom, power, realty, technology, FMCG and capital goods stocks. Market breadth is negative, about 1034 shares have advanced, 1933 shares declined, and 88 shares are unchanged. Midcaps are almost flat. On the global front, Asian markets are trading mixed. However, banking and auto stocks are down.

At 10:31 am, the Sensex was up 103 points at 14,912 and the Nifty up 43 points at 4,546. NSE advance:decline ratio mixed with negative bias at 515:578.

DLF, Bharti Airtel, NTPC, Reliance Communication and Nalco were top gainers while JP Associates, HDFC Bank, HDFC, Sterlite, HCL Tech and M&M top losers on boures.

JP Associates, Axis Bank, RNRL, Indiabulls Real Estate and ICICI Bank were most active shares.

Telecom, capital goods, power and oil stocks were getting strong support from buyer's hands. The BSE Teck, Capital Goods, Power and Oil indices were up over 1%. However, Bankex and Auto indices were down over 0.3%.

Companies have paid advance taxes for the quarter ended March 2008. Mukesh Ambani's Reliance Industries paid Rs 443 crore versus Rs 118 crore YoY.

* Reliance Pays Rs 443 Cr Vs Rs 118 Cr (YoY)
* Tata Steel Pays Rs 300 Cr Vs Rs 350 Cr (YoY)
* Tata Motors Pays Rs 75 Cr Vs Rs 190 Cr (YoY)
* TCS Pays Rs 115 Cr Vs Rs 20 Cr (YoY)
* Indian Hotel Pays Rs 44 Cr Vs Rs 2 Cr (YoY)
* M&M Pays Rs 116 Cr Vs Rs 83 Cr (YoY)
* L&T Pays Rs 170 Cr Vs Rs 80 Cr (YoY)
* ICICI Bank Pays Rs 250 Cr Vs Rs 125 Cr (YoY)
* HDFC Bank Pays Rs 250 Cr Vs Rs 165 Cr (YoY)
* Bank Of India Pays Rs 191 Cr Vs Rs 150 Cr (YoY)
* Union Bank Pays Rs 130 Cr Vs Rs 100 Cr (YoY)
* Central Bank Pays Rs 220 Cr Vs Nil (YoY)
* Ambuja Cem Pays Rs 175 Cr Vs Rs 100 Cr (YoY)
* MRPL Pays Rs 100 Cr Vs Rs 20 Cr (YoY)

Markets open lower mirroring weak global cues

The markets have opened lower following weak cues across the globe and selling pressure in banking, power, oil and capital goods stocks but turned volatile in morning trade.

At 9:56 am, the Sensex was down 83 points at 14725 and the Nifty down 26 points at 4476.

ICICI Bank, Reliance Energy, Tata Power, HDFC Bank, Tata Comm, HDFC, Satyam, L&T, Reliance Ind and SBI were major losers.

Asian markets were trading lower barring Nikkei. Shanghai Composite fell 1.79% or 68.21 points at 3,751.84. Hang Seng was down 2.37% or 499.75 points at 20,584.86. Jakarta Composite plunged 2.22% or 51.44 points at 2,260.88.

Straits Times was down 0.82% or 23.01 points at 2,769.74. Seoul Composite went down 3.74 points or 0.24% at 1,570.70. Taiwan Weighted fell 0.07% or 5.56 points at 7,999.90.

However, Japan's Nikkei was up 0.79% or 93.66 points at 11,881.17.

Wall Street did start off on a nervous note but markets recovered some ground in afternoon trade and the Dow finished with a small gain. Investors rewarded JP Morgan for its weekend move on Bear Stearns. But punished other banks on conerns that they might be over valued.

The Dow gained 21.16 points, or 0.18%, to 11,972.25. The Standard & Poor's 500 index was down 11.54 points, or 0.90%, to 1,276.60. The Nasdaq composite index declined 35.48 points, or 1.60%, to 2,177.01.

Market cues:

* FIIs net sell $31.9 m in equity on Mar 14
* NSE F&O Open Int down Rs 2909 cr at Rs 64335 cr

F&O cues:

* Futures Open Int down by Rs 3,530 crore, Options Open Int up by Rs 621 cr
* Nifty Futures shed 11 lakh shares in Open Int; at 4-point discount
* Stock Futures shed 2.5 cr shares in Open Int
* Nifty Open Int PCR at 0.85 vs 0.92
* Nifty Puts Open Int unchanged, Calls add 12.3 lakh shares in Open Int
* Nifty 4400 Put adds 3.4 lakh shares in Open Int
* Nifty 4600 Put sheds 4 lakh shares in Open Int
* Nifty 4350 Put adds 2.6 lakh shares in Open Int
* Nifty 4700 Put sheds 2.4 lakh shares in Open Int
* Nifty 4500 Call adds 3.7 lakh shares in Open Int
* Nifty 4700 Call adds 2.2 lakh shares in Open Int
* Nifty 4600 Call adds 2 lakh shares in Open Int

Source : MoneyControl

Anil Manghnani, Modern Shares & Stock Brokers is of the view that below Rs 198, Jaiprakash Associates can go down to Rs 153.

Manghnani told CNBC-TV18, "Rs 198 was a support that’s where JP Associates bounced back. Actually it was in one of the charts which is showing good trading momentum last week, unfortunately this week it’s again that whole Bear Sterns story and it’s been associated with that Bear Sterns has a stake or it’s selling it’s stake, Rs 198 if it breaks then unfortunately there could be another slide to even closer to Rs 153 levels where it started off the phenomenal run from Rs 150 odd to Rs 510. So lets hope it takes support in this Rs 190-200 range."

Source : MoneyControl

Bear Stearns has sold stocks in India portfolio worth Rs 265 crore, which includes stocks like Dabur Pharma, Sonata Software, Rain Commodities, HEG, Taj GVK (31 midcap stocks).

Bear Stearns holds total investment worth Rs 2734 crore in India. Top holding is Jaiprakash Associates worth Rs 651 crore.

Following table includes holding of 1% and above in each stock. There could be some holdings with less than 1% holdings, which also might add a couple of hundred crore.

Source : MoneyControl

Free Intraday Tips for 17th March 08
POWERGRID ( Power Grid Corporation of India Ltd)

Action	Trigger Price	Stop Loss	Target 1	Target 2
BUY ABOVE	95.5	94	97.5	100
S.SELL BELOW	93	95	92	88

JPASSOCIAT ( Jaiprakash Associates Limited)

Action	Trigger Price	Stop Loss	Target 1	Target 2
BUY ABOVE	237	231	242	248
S.SELL BELOW	229	233	225	216

RPL ( Reliance Petroleum Limited)

Action	Trigger Price	Stop Loss	Target 1	Target 2
BUY ABOVE	163	160	166	170
S.SELL BELOW	159	161	157	151

"Don't focus on making money; focus on protecting what you have."

Source : http://hotstockindia.com