Jaypee Hotels' shareholders & creditors to approve scheme of amalgamation

The meeting of equity shareholders & creditors of Jaypee Hotels will be held on 28 March 2009 to approved the proposed scheme of amalgamation of Jaypee Hotels, Jaypee Cement, Jaiprakash Enterprises & Gujarat Anjan Cement with Jaiprakash Associates.

Next week market

On the daily charts, NIFTY is witnessing an inverse head and shoulder formation,
which suggests further upside and NIFTY likely to take resistance at 2854 and 2970
or even 3147 in near term. In the forthcoming week NIFTY may be considered robust
in the higher side but it is also rare to move more upside owing to a tug of war
between buyers and sellers. On the higher side, the Nifty should take resistance at
2798 and 2814 levels. Breaching 2814 level on closing basis, NIFTY can move
towards 2854 or even 2953 levels, while on downside, the support comes in at the
2708 and 2678 levels. A break of 2662 level, it may test 2646. If global market
continues to fall in the coming week, then NIFTY might test 2612 and 2570 or even
2503 levels.

Dow breakdown signals move into depression

Tuesday saw a huge big breakdown in global markets. The Dow has plunged to 12-year lows and S&P has also broken 750, which was its November low.

todays tip

buy century text. around 175 spot ; sloss below 167 spot ; target at 185 ; 191 spot

todays market

Wall Street fell on Wednesday as negative sentiment was
generated by a report showing an unexpected decline in existing
home sales in the month of January. The key benchmark indices,
Dow Jones and NASDAQ fell by 1.09% and 1.14% respectively.
The Asian bourses are trading mixed with Nikkei up by 1.33%,
Hang Seng down by 0.71%and Singapore Nifty up by 13 points.

With Mixed global cues the domestic markets are expected to trade
range bound with high volatility – considering F&O expiry.
Technically nifty may take resistance at 2790/2815/2875 levels and
support at 2735/2705/2650 levels

midday tip GMR AND THOMASCOCK

THOMASCOCK 33.80 BUY AND SL 33.30 TARGET 34.80
GMR INFRA BUY 76.80 SL 75.80 TGT 78.50

today intraday tips

Postive side
BHEL had received a 31.5 billion rupee ($635 million) order for
supplying two 600-megawatt plants for a power project in central
India.

BGR ENERGY SYSTEMS LTD has won an $8.57-million order
from State Company of Oil Projects, Iraq.

ANDHRA BANK aims to enter the mid-size category of banks in
the country by the end of this fiscal by crossing a total business
volume of Rs 1,00,000 crore.
negitive side
MRF Ltd has declared lock out at the manufacturing plant situated at Puducherry with effect from
February 22, 2009 on account of labour unrest in the factory.

ONGC has trimmed its crude oil output target by around 3.5% for the current financial year to end-
March because of infrastructure shortages and technical issues.

Today "s" tips

F&O MARKET – SHORT VIEW

In the Index futures segment, Nifty February contract settled at a
discount of 13.30 points against spot market. The contract price
dropped 2.26 percent coupled with open interest declined by 10.96
percent. The cost of carry was negative. This indicates shorts build up
in the contract.
•
Index futures saw a trading volume of Rs.12693.45 crores arising out of
993145 contracts and Index options saw 1421380 contracts getting
traded at a notional value of Rs.19676.03 crores. The total turnover of
the Futures & Options segment of the Exchange was around
Rs.43149.65 crores.
•
On the options front, Feb contract, call buying was seen at 2700 & 2900.
On the downside, put writing was seen at 2600 strike prices indicating
NIFTY has strong support at 2600 levels.
•
The Nifty FEB put-call ratio declined to 0.90 from 1.02 indicating that
market may remain trade lower side.
•
Out of 255 securities, futures and options on 249 & 112 underlying
securities got traded.
•
RELIANCE & ICICIBANK was the most active futures & option
contracts on individual securities traded.

Next week "WEEKLY MARKET OUTLOOK": Chantigadu

NIFTY has been trading volatile in a narrow range of 2700 – 2970 over a couple of
weeks. Volumes were pretty low against previous week. Volatility may remain high as
a tussle between buyers and sellers continues to rule the market. On the F&O front,
NIFTY 2200 MARCH PUT OPTION has seen significant long build up in positions and
it would mean that traders are expecting the NIFTY index to fall to around 2200 from
current levels. Considering all above factors, investors are advised to remain
extremely cautious in short term. As for weekly’s trade, technically 2709 – 2662 levels
are acting as a good support for NIFTY. If it breaks 2700 on closing basis, then
market may turn to further downside and could test 2570 or even 2502 levels. On
higher side, NIFTY is likely to take resistance at 2807 & 2846. Above 2854 levels,
NIFTY is likely to move towards 2953. Decisive break of 2970 or 3000 resistance will
indicate that NIFTY may expect to test 3150 in short term.

Sesa Goa has support at Rs 67-68 : Chantigadu

Sesa Goa had started some sort of an uptrend and there was a good support at around Rs 85. But below Rs 85, this uptrend is now very much in question in fact for all long positions. I would clearly recommend to come out of all long positions because right now the next major support in my opinion is around about Rs 67-68 zone. There is a distinct possibility for the stock coming down to Rs 67-68."

Shree Renuka Sugars' board approves scheme of amalgamation

The board of Shree Renuka Sugars has approved the scheme of amalgamation for merger of wholly owned subsidiaries of the company, viz., Godavari Biofuel and Ratnaprabha Sugars with Shree Renuka Sugars.
This was approved at the board meeting held on 20 February 2009.

Again European mkts slip further, down 2-3%

Sell-off in mining and banking shares are putting pressure on the European markets. CAC dropped 83.98 points or 2.92%, to 2,788.62 and DAX was down 129.82 points or 3.08%, to 4,085.39.

Sensex, Nifty close 7-8.5% down this week

Markets ended the weekly session sharply lower, barring flat closing on Wednesday and Thursday. The reasons behind this fall were interim budget that disappointed the street and the weak global cues. The 30-share BSE Sensex lost 8.5% and the 50-share NSE Nifty down 7.3%.

23/02/2009 is holiday an account of the maha siva ratri

All my friends this is for ur information and we will give some tips to saturday also it considar short term only............

See more low levels in shor term

beware of the stock market in this level
dont buy the single infra shares

Right time to buy the Satyam

This is right time to buy the satyam share
it will touch the 80-85 rs with short period