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One needs to watch the RBI policy for the repo rate as it can derail the ongoing rally in the market. The week that went by saw a healthy correction in realy stocks with deep gains being shown by oil & gas and metals sectors. The market may remain volatile in the near term as traders rollover positions in derivatives segment ahead of the expiry of the near-month March 2010 derivatives contracts on Thursday i.e. 25 Mar 2010.
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Overall, One need not worry as VIX trading is trading at very low levels in India and it only means that bears can take rest for some time and same is the case with US CBoE VIX is trading at 16.62 and same is at its 2 year lows. Thus bulls will have a field day ahead as fear levels are abysmally low. Analysis of derivative segment suggests that Nifty call option added 3.20 lakh shares in open interest,whereas put option added 10.90 lakh shares in open interest. Further digging of the data at option front suggests that implied volatility has decreased marginally, indicating that 5200-5150 may act as a good support going forward. Moody's and Fitch, have already given a stable rating on India and the strong outlook for India by other agencies is going to be a booster for India. However on the negative side we can say that next week trading may be sideways with a negative bias due to trading holiday on wednesday on account of Ramnavmi and do check
Indian holiday list 2010 to plan your leave. another dampner for market is F&O expiry on day subsequent to Ramnavmi and jitters caused due to market reaction caused by RBI actions.
However if Nifty 5215 level is held than All is Well and one need not worry and overall trend will remain upside. do remember to check the
sure shot suggestions which rock irrespective of the direction of the market. In days to come we will see stock specific action in the market which will propel it to next level provided Nifty level of 5300 is broken.
| Index | Support | Resistance |
| Nifty | 5215 | 5300 |
| Sensex | 17400 | 17635-16800 |
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Indian IPO Information
Goenka Diamond and Jewels Limited is coming with an IPO and issue is opening on 23 Mar and is closing on 26 mar 2010. Price Band: of the share is between Rs. 135- Rs. 145 per equity share and face value of the equity shares is Rs. 10. Their regd office detail is as following:
401 Panchratana Moti Singhbho.,Ka Rasta Johari Bazar , Jaipur - 302003 , Rajasthan , India.
Phone : 91-141-2574175 Fax:91-141-2573305
Intrasoft Technologies Ltd is also open for subscription wef 23 Mar- 26 Mar 2010 and is placed in a price band of Rs 137-145.
As a thumb rule always consult your financial advisor before investing in any stock IPO.
Advance Tax Update
A number of Indian companies have paid a higher tax this quarter according to the preliminary data, indicating better fourth quarter results. To start with market heavy weight Reliance Industries has paid Rs 770 crore as advance tax for the March quarter compared with Rs 365 crore a year ago. IT bell weather stocks namely Infosys' tax outgo has doubled to Rs 250 crore from Rs 125 crore. Tata Consultancy Services paid Rs 178 crore, compared from Rs 53 crore earlier. State-run Union Bank of India paid Rs 185 crore compared with Rs 253 crore a year ago. ICICI Bank's Q3 advance tax stood at Rs 350 crore versus Rs 250 crore a year ago. Asian Paints paid Rs 60 crore, versus Rs 43 crore year earlier. In the banking segment State Bank of India has paid Rs 1857 crore verses Rs 1810. HDFC paid Rs 280 crore, unchanged from a year earlier. Tata Motors paid Rs 115 crore versus Nil a year ago. Bank of Baroda paid Rs 300 crore verses Rs 280. Zee Entertainment Enterprises paid Rs 97 crore versus Rs 109. Tata Steel paid Rs 513 crore versus Rs 406 crore. L&T paid Rs 270 crore versus Rs 275 crore. Bajaj Auto paid Rs 177 crore versus Rs 60 crore. M&M paid Rs 235 crore versus nil a year earlier.
Cement maker ACC paid Rs 330 crore compared to Rs 340 crore a year ago. Ambuja Cement paid Rs 120 crore, compared with Rs 125 crore a year ago. Aditya Birla Group firm Grasim Industries paid Rs 216 crore as advance tax in the period under review, as compared to Rs 65 crore a year ago. Life Insurance Corp of India (LIC) has paid Rs 864 crore as advance tax for the March quarter, compared with Rs 810 crore year ago.
Thus as a tool one can track the figures of advance tax to determine this fact that whether one should invest in a stock or not and as these are key indicators for the company performance. however do not take it as a gospel truth as auto companies generally tend to do well in the first quarter of the year and performs poorly in the Dec qtr as people potpone their purchases to have a new model in new year which enhances the after sale price of the vehicle.
NSE strong future
Idea, Triveni, Indusind Bank, Chennai Petro, India Hotels, JSW Steel, Wel Guj, BEL, DCHL & Sesa Goa.
NSE weak future stocks and Shares
Balrampur Chini, Bajaj Hind, Renuka, Hind Petro, Tulip, BPCL, KS Oils, Moser Bear, Dish TV & Nagarjuna Fertil.
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