DAILY REPORT 09th JANUARY. 2014
Global markets at a glance Japan's Nikkei share average fell on Thursday morning after rising sharply on the previous day, as investors stayed risk averse before the release of U.S. nonfarm payroll data on Friday. Eyes will now be on Friday's nonfarm payroll report, which will indicate how the U.S. economy is faring and therefore how fast the Federal Reserve will scale back stimulus. Asian shares got off to a weak start on Thursday after a lackluster performance on Wall Street overnight and ahead of Chinese inflation data, while the dollar stood tall against a basket of currencies.
World Indices
Wall Street Update The S&P 500 finished nearly flat on Wednesday as equity indexes had a muted reaction to the minutes from the US Federal Reserve's most recent meeting, while Micron's strong results helped buoy the Nasdaq. The Fed’s bond purchases had been understood to weigh on the dollar .the fact that the minutes do not meaningfully alter the outlook for a gradual and steady reduction in Fed stimulus remains positive for the dollar
Company
Index
Value
% Change
14462.74
-68.20
S&P 500
1837.49
-0.02
NASDAQ EURO STO FTSE 100
4165.61 3110.65 6721.78
12.43 -0.01 -0.50
Nikkei 225 Hong Kong
15898.55 23,022.88
-1.38 +0.11
DJl
Top Gainers CMP
Change
% Chg
COAL INDIA
288.90
13.55
+4.92
CIPLA
404.00
13.15
+3.36
GAIL
346.15
8.15
+2.41
BANKBARODA
630.00
13.20
+2.14
TATAPOWER
81.10
1.55
+1.95
CMP
Change
% Chg
1,208.10 316.80 998.00 473.00 162.55
26.15 6.75 20.70 7.40 2.45
-2.12 -2.09 -2.03 -1.54 -1.48
Prev. Close
Change
%Chg
ABAN
434.50
9.70
+2.28
ARVIND
153.05
0.60
-0.39
BFUITLITIE
640.60
30.50
5.00
HCLTECH
1,247.80
8.55
-0.68
MARUTI
1,850.40
4.65
+0.25
Prev. Close
Change
%Chg
CMP
Change
% Chg
6,174.60 20,729.38
+12.35 +36.14
+0.20 +0.17
Top Losers Company
Previous day Roundup The market snapped five-day losing streak on Wednesday and closed higher for the first time in 2014, though overall it was a consolidation day ahead of Q3 earnings. The Sensex rose 36.14 points to 20,729.38, and the Nifty climbed 12.35 points to 6,174.60 while the broader markets outperformed benchmarks. The BSE Midcap Index advanced 0.6 percent and Smallcap gained 0.3 percent. Advancing shares outnumbered declining ones by a ratio of 1499 to 1043 on the BSE. The market is eagerly waiting for third quarter earnings (October-December) that will start on Friday with Infosys announcing results. Index stats The Market was very volatile in yesterday session where Bank and Bank Nifty both closed almost flat (up.0.14% and up 0.15% respectively). Among the sartorial indices the sectors which were up are; AUTO [up 85.57pts], PSU [up 46.25pts], TECK [up 3.29pts], Oil & Gas [up 29.16 pts], Metals [up 41.18 pts], , IT [up 7.47pts], Healthcare [up 104.44pts], FMCG [up 11.33pts] and the index declined were Realty [down 6.19pts], Power [down 0.43pts], Capital Good down 133.33pts,Consumer Durables down 34.00pts.
AXISBANK BPCL LT RANBAXY BHEL
Stocks at 52 Week’s high Symbol
Stocks at 52 Week’s Low Symbol
--
Indian Indices Company NIFTY SENSEX
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DAILY REPORT 09th JANUARY. 2014
EQUITY CASH & FUTURE
STOCK RECOMMENDATIONS [FUTURE] 1. SYNDICATE BANK
STOCK RECOMMENDATION [CASH] 1. GRAVITA
SYNDICATE BANK FUTURE is looking strong on charts, we may see more upside, if it sustains above 98.50 levels. We advise buying above 98.50 levels with strict stop loss upside, if it sustains above 98.50. We advise buying above 98.50 with stop loss 96.50 for the targets of 99.50-101.50.
GRAVITA is looking strong on charts. We advise buying above 46 levels with strict stop loss of 41 for the targets of 50-54 levels.
2. FRL
MACRO NEWS It is expected that a low base effect last quarter is expected to support the net profit growth of Infosys for the December 2013 quarter even though the top-line growth would be weak. The CCEA is expected to consider a proposal tomorrow to hike import duty on refined edible oil to 10 per cent for protecting domestic industry and farmers. Banks borrowed 4,145 cr rupees via MSF on January 7. RBI favours differentiated banks, one for low-income households. India permits 100 per cent FDI in pharma through automatic approval route in the green-field, or new projects. AirAsia to cut costs by 7%. Unable to bank on Switzerland, India intensifies pressure for information on tax evaders, account holders. STC gets highest bid at $282.62/T in wheat export tender. India seeks South Korean investment in infra sector.
FRL FUTURE is looking strong on charts, long build up has been seen, we may see more upside, if it sustains above 90 levels. We advise buying around 89-90 levels with strict stop loss 87 for the targets of 92-94 levels.
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DAILY REPORT FUTURE & OPTION
09th JANUARY. 2014
STOCKS IN NEWS ONGC Videsh-Oil India complete acquisition of Videocon stake for $2.475 billion IDBI BANK Loan to Dabhol may become bad debt: SPICE JET will buy 42 Boeing 737 MAX jets for USD 4 billion RELIANCE Barclays is equal weight on Reliance and raised target to Rs 1,040 from Rs 900/share
MOST ACTIVE PUT OPTION Symbol
Option Type
Strike Price
LTP
Traded Volume (Contracts)
Open Interest
NIFTY
PE
6,200
93.40
2,09,393
41,69,300
NIFTY
PE
6,100
55.50
1,94,229
44,61,900
NIFTY
PE
6,000
30.90
1,41,900
48,81,000
BANK NIFTY
PE
10,500
81.00
14,353
2,09,650
SBIN
PE
1,600
26.00
2,779
2,37,125
INFY
PE
3,100
21.80
3,737
4,90,875
RELIANCE
PE
840
14.05
1,553
3,48,500
AXISIBANK
PE
1,200
38.25
1,437
1,79,500
NIFTY FUTURE
MOST ACTIVE CALL OPTION Symbol
Option Type
Strike Price
LTP
Traded Volume (Contracts)
Open Interest
NIFTY
CE
6,300
47.05
2,25,162
51,05,500
NIFTY
CE
6,200
89.55
1,63,686
30,77,450
NIFTY
CE
6,400
21.75
1,57,109
42,17,650
BANKNIFTY
CE
11,500
125.85
22,600
2,53,500
SBIN
CE
1,700
34.70
6,380
4,49,125
RELIANCE
CE
860
17.25
5,169
7,77,250
INFY
CE
3,800
21.20
3,437
4,87,500
SBIN
CE
1,800
11.90
3,253
8,75,250
INFY
CE
3,600
71.20
3,071
4,29,250
Nifty Future closed in the red in the last trading session. We advise selling below 6170 with strict stop loss of 6200 for the targets of 6140-6120 levels.
FII DERIVATIVES STATISTICS BUY
SELL
OPEN INTEREST AT THE END OF THE DAY
No. of Amount in No. of Amount in No. of Contracts Crores Contracts Crores Contracts
Amount in Crores
NET AMOUNT
INDEX FUTURES
27887
842.31
44678
1366.54
434004
13323.59
-524.23
INDEX OPTIONS
231881
7083.99
236446
7243.37
1117084
34345.63
-159.38
STOCK FUTURES
58618
1900.91
58826
1926.94
999498
31531.48
-26.03
STOCK OPTIONS
30235
937.09
30747
959.44
60965
1948.25
-22.35
TOTAL
-731.91
INDICES
S2
S1
PIVOT
R1
R2
NIFTY
6143.93
6159.26
6175.68
6191.01
6207.43
NIFTYJUNIOR
2599.66
12655.13
12718.96
12774.43
12838.26
BANK NIFTY
10921.13
10987.41
11055.08
11121.36
11189.03
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DAILY REPORT 09th JANUARY. 2014
COMMODITY MCX
RECOMMENDATIONS SILVER
COMMODITY ROUNDUP Deutsche Bundes bank said factory orders surged by a seasonally adjusted 2.1% in November, surpassing expectations for a gain of 1.5%. Factory orders fell by 2.1% in October, whose figure was revised from a previously reported drop of 2.2%. German factory orders rose more-than-expected in November, fuelling optimism over the health of the euro zone's largest economy. Year-over-year, German factory orders increased at an annualized rate of 6.8% in November from a year earlier, beating forecasts for a 6.1% gain, after rising at a rate of 2% in October.
TRADING STRATEGY: BUY SILVER ABOVE 44500 TGTS 44700/4500 SL 44100 SELL SILVER BELOW 43650 TGTS 43450/43150 SL 44050 GOLD
TRADING STRATEGY: BUY GOLD ABOVE 28900 TGTS 28980/29080 SL 28780 SELL GOLD BELOW 28690 TGTS 28610/28510 SL 28800
YOUR MINTVISORY
India's gold imports fell significantly after the Union Government raised customs duty on gold in phases to 10% and jewellery import duty to 15%. Apart from this a new regulation which came into effect a few months ago stipulated that 20% of all gold imported had to be exported in value added form. Various measures taken to curb consumption of gold including restrictions on gold loans caused gold imports to fall from a high of 163 tons in May 2013 to 19.3 tons in November. The Gems and Jewellery Trade Federation said it expects India's gold imports to fall significantly by 20-30% to 500 tons in 2014 on huge price differential between Indian and global gold prices commanding a premium of $100 over LBMA fix 32% decline in consumer demand at 148 tons compared to 310 tons in the second quarter of this year. MCX Crude oil futures slipped yesterday amid a flat undertone in the global prices and modest gains in the Indian Rupee. The global crude prices recovered from five week low yesterday as the US stocks gained but remained locked in a tight range today as investors waited for the minutes of the last FOMC meet and US Energy Information Administration (EIA) crude oil inventories data. WTI Crude oil quotes at $93.88, up 21 cents per barrel on the day ahead of the floor trading. MCX Crude oil trades at Rs 5843, down Rs 13 per barrel on the day with 14.25% increase in the open interest.
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DAILY REPORT 09th JANUARY. 2014
NCDEX
RECOMMENDATIONS CASTORSEED
NCDEX INDICES Index
Value
% Change
Castor Seed
4419
+2.43
Chana
2993
+0.10
Coriander
7945
-0.04
Cotton Seed Oilcake
1520
-0.72
12550
+0.42
Maize– Feed/ Industrial Grade
1208
-0.82
Mustard seed
3597
-0.28
Soy Bean
3661
-0.77
Sugar M Grade
2798
-0.29
Turmeric
6810
-0.61
Jeera
BUY CASTORSEED FEB ABOVE 4560 TGTS 4590,4640 SL 4510 SELL CASTORSEED FEB BELOW 4420 TGTS 4190,4140 SL 4470 DHANIYA
NCDEX ROUNDUP The Vietnam Pepper Association (VPA) projects export volume of around 125,000 to 130,000 tons with revenue of around USD900 million for the year 2014, equivalent to 2013′ s earnings. The forecast is rather cautious after pepper prices stayed stable at around VND120,000 a kilo during last year. Coriander prices fell by 1.22% to Rs 8,171 per quintal in futures trade yesterday as speculators booked profits at existing higher levels amid fall in spot market demand. At the NCDEX, coriander prices for delivery in February fell by Rs 101, or 1.22%, to Rs 8,171 per quintal with an open interest of 25,560 lots. The price for January delivery declined by Rs 53, or 0.66%, to Rs 7,895 per quintal with open interest of 12,720 lots. Besides profit-booking by speculators at existing higher levels, sluggish demand in the spot market led to the fall in coriander futures prices.
BUY DHANIYA JAN ABOVE 8030 TGTS 8060,8110 SL 7980 SELL DHANIYA JAN BELOW 7890 TGTS 7860,7810 SL 7940
YOUR MINTVISORY
Potato prices moved up by Rs 4.50 to Rs 957.40 per quintal in futures trade yesterday on increased spot demand against restricted arrivals. Trading sentiment improved further as traders enlarged holdings driven by surge in demand in the spot market. At the MCX potato for delivery in March rose by Rs 4.50, or 0.47%, to Rs 957.40 per quintal, with trading volume of 315 lots.
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DAILY REPORT 09th JANUARY. 2014
CURRENCY
RBI Reference Rate Currency
Rate Currency
Rupee- $
62.2430 Yen-100
Euro
84.8185 GBP
EUR/INR
Rate
59.3400 102.1719
CURRENCY ROUNDUP The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar yesterday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks. Indian rupee gained in opening trade on Wednesday against the US dollar. Rupee opened higher by 10 paise or 0.16% against US dollar at Rs 62.21 compared to previous close of 62.31. The rupee bounced back and ended at the day's high of 62.07, a rise of 23 paise or 0.37 percent. It was the highest level for the rupee since closing at 61.90 on January 1.
SELL GBP/INR BELOW 102.28 TGTS 102.13, 101.98 SL 102.68. BUY GBP/INR ABOVE 102.67 TGTS 102.84, 103.03 SL 102.27. GBP/INR
The dollar rose against the yen on Wednesday as upbeat U.S. trade data the previous day triggered renewed appetite for riskier assets among global investors. The Canadian dollar, against which hedge funds have been betting, dropped versus the U.S. currency after activity by purchasing managers nosedived unexpectedly in December. The U.S. dollar rose 0.5 percent to 105.07 yen, pulling further away from Monday's two-week low of 103.88 and back towards last week's five-year high of 105.45 yen. Options expiring at 105 yen, which could help pin the Japanese currency at these levels. The dollar index .DXY hit a one-month high of 80.954 and was last up 0.1 percent on the day at 80.943. Data on Tuesday showing the smallest U.S. trade deficit in four years, as exports hit a record high, lifted the dollar. At the same time, global stocks rose, indicating the greater risk appetite that is usually a sign to sell the yen.
SELL EUR/NR BELOW 84.65 TGTS 84.53, 84.42 SL 85.01. BUY EUR/INR ABOVE 85.23 TGTS 85.39, 85.54 SL 84.87.
YOUR MINTVISORY
The dollar pared earlier losses against the euro, with the single currency down 0.1 percent at $1.3604. The greenback moved higher against most major currencies on Wednesday after industry data revealed more hiring took place in the U.S. private sector last December than anticipated. U.S. trading on Wednesday, EUR/USD was down 0.26% at 1.3581 .
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DAILY REPORT 09th JANUARY. 2014
CALL REPORT PERFORMANCE UPDATES
Date
Commodity/ Currency Pairs
Contract
Strategy
Entry Level
Target
Stop Loss
Remark
08/01/14
MCX GOLD
FEB.
BUY
29020
29100-29200
28900
NOT EXECUTED
08/01/14
MCX GOLD
FEB.
SELL
28790
28710-28610
28900
BOOKED PROFIT
08/01/14
MCX SILVER
MAR.
BUY
44700
44900-45200
44340
NOT EXECUTED
08/01/14
MCX SILVER
MAR.
SELL
44280
44080-43780
44630
BOOKED FULL PROFIT
08/01/14
NCDEX CASTOR SEED
FEB.
SELL
4350
4320-4270
4400
BOOKED FULL PROFIT
08/01/14
NCDEX CASTOR SEED
FEB.
BUY
4405
4435-4485
4355
SL TRIGGERED
08/01/14
NCDEX DHANIYA
JAN.
SELL
7820
7790-7740
7870
NOT EXECUTED
08/01/14
NCDEX DHANIYA
JAN.
BUY
8000
8030-8080
7950
BOOKED PROFIT
08/01/14
JPY/INR
JAN.
SELL
59.78
59.63-59.45
60.13
NOT EXECUTED
08/01/14
JPY/INR
JAN.
BUY
60.19
60.34-60.49
59.84
NOT EXECUTED
08/01/14
USD/INR
JAN.
SELL
62.46
62.31-62.16
62.81
BOOKED PROFIT
08/01/14
USD/INR
JAN.
BUY
62.80
62.95-63.10
62.45
NOT EXECUTED
Date
Scrip
CASH/ FUTURE/ OPTION
Strategy
Entry Level
Target
Stop Loss
Remark
08/01/14
NIFTY
FUTURE
SELL
6170
61040-6120
6200
NOT EXECUTED
08/01/14
TATASTEEL
FUTURE
SELL
395-400
388-382
408
CALL OPEN
08/01/14
MARUTI
FUTURE
BUY
1850-1860
1880-1900
1830
CALL OPEN
08/01/14
EVERONN
CASH
BUY
47
52-59
42
BOOKED PROFIT
07/01/14
NIFTY
FUTURE
SELL
6200
6150-6110
6250
CALL OPEN
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DAILY REPORT 09th JANUARY. 2014
ECONOMIC CALENDAR
NEXT WEEK'S U.S. ECONOMIC REPORTS TIME (ET)
REPORT
PERIOD
ACTUAL
CONSENSUS FORECAST
PREVIOUS
--
-0.6%
MONDAY, DEC. 30 10 am
Pending home sales
Nov. TUESDAY, DEC. 31
9 am 9:45 am 10 am
Case-Shiller home prices
Oct.
--
13.3% y-o-y
Chicago PMI
Dec.
61.8
63.0
Consumer confidence
Dec.
75.0
70.4
12/28
N/A
338,000
WEDNESDAY, JAN. 01 New Year's Day None scheduled THURSDAY, JAN. 02 8:30 am
Weekly jobless claims
9 am
Market PMI
Dec.
--
54.4
10 am
ISM
Dec.
56.9%
57.3%
10 am
Construction spending
Nov.
0.9%
0.8%
16.0 mln
16.3 mln
FRIDAY, JAN. 03 TBA
Motor vehicle sales
Dec. Disclaimer
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