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DLF falls 9%, Haryana govt cancels 350-acre land allotment DLF is set to challenge the HC order citing that the company got the land parcel in an international competitive bidding process. Shares of DLF tumbled 9 percent intraday on Thursday as worried investors are busy offloading the stock after the Haryana government cancelled the 350-acre land allotment made to the company in 2010. In a major blow to real estate firm DLF , the Punjab & Haryana High Court has cancelled the allotment of 350 acre land to the company by the Bhupinder Singh Hooda government in Haryana. The ruling comes a week after the Supreme Court had ordered DLF to pay Rs 630 crore penalty imposed by the competition watchdog CCI as a pre-condition for hearing the company's appeal. According to sources, DLF is set to challenge the HC order citing that the company got the land parcel in an international competitive bidding process. JP Morgan has a neutral rating on the stock with a price target of Rs 210 per s...

Bank Nifty futures closed at 15682 level with daily momentum indicators pointing towards a positive direction. For Nifty to breach its short term 8000 resistence, upmove by bank nifty and its constituents is very important. With the shrunk premiuims at 8000 Nifty call options, one may easily suggest that market movers are not in much favor of such an upmove. Volumes suggest the other way around. Its a tough call to make hence it shall be suggested to buy carefully with a relatively short up move near the strong resistence level till the expiry. Banks like SBI, ICICI Bank, PNB, Bank India performed according to the expectations. How ever the surprise package came from Bank Baroda which too made an upmove even after a weak chart. CAution is the word while trading with banks at the moment. Let the moves become clear and subtle. NTPC on the other hand has pulled attention by retracing upto 61.8% of its previous wave. One may buy at these levels and enjoy Nifty breaking all barriers in...

It is that, one horizontal trend line that an active trader in any market would love to see on a technical chart. Bank Nifty at the moment is staring at an important resistance level which separates it from new all time highs. Volumes too appear to be good and in favor of a break out to the upside. Daily momentum indicators too are building up good signals that indicate a big up move is around the corner. The time band I am here referring is till the 9 month expiry in the Indian markets. The bank Nifty is roaring to go, yet has shown some signs of weakness which may not force banknifty to make lower levels any lower than 4 % from current market levels. Probably I know the reason too. Each member in a team is important and has to perform in random with the other players in the pool and the problem lies when the team captain has kept itself as a reserve in the current rally by the team, With 24.89 % weight in bank nifty, India's largest PSU bank leads this team. SBI is still due...

June 05, 2014 With market expectations so high for action, the European Central Bank has no choice but to loosen its monetary policy on Thursday, economists said. Economists expect the central bank to cut its main refinancing rate by 10 or 15 basis points — bringing the rate down to 0.15% or 0.10% — and to introduce a negative deposit rate of 0.1%. Additionally, economists also expect the ECB to stimulate more lending by creating a new long-term refinancing operation. Some economists also believe there is the possibility that during the press conference, ECB President Mario Draghi will keep the door open for outright quantitative easing and asset purchases later in the year. The only option the ECB doesn’t have is to do nothing, they said. René Defossez, fixed income strategist at Natixis, said since the May monetary policy meeting, central bank members “have made a lot of promises,” which have helped push the euro down against the U.S. dollar, easing some of the pr...

RBI Policy impact on ICICI Bank technical daily chart !! Reserve Bank of India Governor Raghuram Rajan has kept interest rates unchanged at 8  % in his first post Modi win monetary policy. However the SLR ratio has been cut by 50 basis points which means that bank would be able to infuse more money in the economy by increasing their lending capabilities. SLR suggest to amount that the commercial banks require to maintain in the form of govt approved securities or gold before lending credit to its customers.

#thestocktalk - #StateBankofIndia - March 24, 2014 By observing India's largest public bank's candle ticks on the weekly and daily charts, one may make a bullish view on its stock price movement. A positive break out that has broken its 10 days trading range goes well in tandem with its index number. One may easily enter into the positional trade in the stock at these levels with a stop loss at 1550 levels with an upside target of 2000-2100 levels in near term (3-5 months). It faces some light resistance at current levels on weekly chart which may provide  some good entry levels in this week.

Geopolitical tensions surrounding Ukraine weighed heavily on global markets. Key Asian markets ended lower except in China that gained 0.9 percent while Nikkei and Hang Seng fell 1-1.5 percent. European markets lost between 1-2 percent.  The market snapped five-day winning streak on the first day of the week, tracking weakness in global peers as investors remained cautious over rising tensions in Ukraine. The 30-share BSE benchmark Sensex closed below the 21000-mark, down 173.47 points to 20,946.65 while the Nifty fell 55.50 points to 6,221.45 weighed down by banks, capital goods, technology and healthcare stocks. Geopolitical tensions surrounding Ukraine weighed heavily on global markets. Key Asian markets ended lower except in China that gained 0.9 percent while Nikkei and Hang Seng fell 1-1.5 percent. European markets lost between 1-2 percent. Ukraine's new PM Arseniy Yatseniuk has accused Russia of declaring war on the country. This after Russia moved troops to three bases i...

#thestocktalk February 19, 2014 Towards the later end of today's trading session, bulls victory over bears was almost confirmed. Last minute buying into the Indian cash markets put the perfect cherry on the bullish dessert. Nifty has closed above a major major 6150 resistance level, however as per my understanding, i would consider this as an actual bullish breakout, only when nifty closed above this level for this week at least. BankNifty working out same as the Nifty. Daily momentum indicators too speaking off the bullish tone. Nifty to face strong resistance at 6180 levels tomorrow. Our today's portfolio consisted of banking, Info Tech and Oil n gas front runners with an upside target of 1.5% and a stop at .5% of our entry levels.

In a broader perspective, the stock is oscillating within a wide range of `133 to `94. After a steep fall from `124, the stock slipped into a consolidation mode and moved in a narrow range for nearly two weeks. In the process, it has managed to find the support marginally above the lower end of the range and posted a low of `100.50. At this juncture, the hourly chart displays a breakout from the ‘Falling Wedge’ pattern at `104. The volumes have also picked up significantly during this price activity. In addition, the daily ‘RSI-Smoothened’ momentum oscillator is now on the verge of giving a positive crossover. Combining all the above technical evidences, we advise traders to buy the stock from current level to a decline up to `102. The stock initially has a potential to rise towards `116 and in extreme bullish scenario, it may even test `120 level. The stop loss for this trade set up can be maintained at `97.40.

New Delhi:  The UPA 2 will present its interim Railway Budget on Wednesday, with a change in fares unlikely. It is the last Rail Budget for the UPA 2 before the Lok Sabha elections and the past five years have been a turbulent phase. The question is whether things are on track. This will be the last budget of the most turbulent phase of the Indian Railways. The two parties that ruled the railways in the past five years blame it on each other. "Pawan Bansal was accused of bribery, Mallikarjun Kharge is of no use, both spoiled the railways," said Trinamool Congress MP Saugata Roy. But Congress MP Oscar Fernandes has said that Railways is on the right track. "Railways is on track as development is taking place," Fernandes said. In the past five years, the Rail Bhawan saw six new ministers. For the first time in 17 years, the portfolio went to the Congress. Pawan Bansal did end 10 years of populism by announcing a hike in passenger fare, but soon exited on charges o...

#thestocktalk February 04, 2014 After a series of gap down openings last week, Nifty continued this latest trend and had a gap of -40points straight away at 9.15 today morning. It was at that moment trading at its 200DMA, however Nifty showed its metal and gained to cover the gap up. All the credit goes to the heroics shown by the Bank Nifty led by PSU banks. Still the forecast concerning nifty and banknifty movements look very grim and hence one should adopt pt sell on rallies strategy. One may short banknifty, or nifty or high beta stocks at banknifty levels above 11350 - 11400 with a stringent stop loss of 11450. Stay cautioned. 

RBI raises repo rate by 25 basis points shocking the dalal street yet again as status quo was expected by more than 90% of the market analysts. High beta sectors, specially banking now stands on the edge to a yet another breakdown. One may expect 6050  levels at Nifty to be breached if market consolidates along these levels for this week or so. Stay cautious !!

A sloppy day for trade today. Not much movement seen in Indian stock markets all because of American off. Nifty has closed at 6300 levels still maintaining a sense of bullishness. BankNifty too moved ahead a bit from its major major support edge of 10810 levels. Falling from this level and sustaining it for a session or so shall be same as falling from a 1000 ft flat cliff. Holding this level for another one week shall signify a huge upward movement and may help Nifty cross its all time high barrier.Be watch full !! Reliance posted strong results however did not show up in its stock play today, probably macro factors weighing more than its micro parts. AsianPaints on the other hand has put up with negative ratios and for such a result sensitive stock, its definitely not a good news. Our call is to short its futures @ 490 levels with a target price of 480, with an targeted profit of 5K.

#thestocktalk - January 17, 2014 After testing the resistance of 6330 level yesterday, a fall out back into the 6120-6300 zone was surely on the cards. Nifty crossed below an important level of 6317, retested the 6300 as a resistance level ultimately falling down the 6282 level and ending up at 6272 levels today. Our caution is still maintained as the various daily momentum indicators speak different languages. Same was the script presented to BAnkNifty by the sole power. BankNifty too has been pushed below 10976 level and is now staring a crucial support level of 10805. Cutting across below this level would mean a huge 3-4 % fallout out from current levels for beta sectors. Keenly waiting for "Big Boy" Reliance's Q3 earnings report at 1700 hrs today.

Cnx Nifty faced resistance at discussed levels of 6320 - 6330 levels and closed at 6318. Though it failed to  breakout to the upside above the resistance levels, it made sure, that it did not slip below the 6300 levels which shall clarify a bullish trend with buy on dips strategy across all large cap and mid cap stocks. On the banking side, bank nifty continued to show the bullish spark, however some selling pressure due to profit booking was witnessed. Stocks or the sectors to watch out are IT & Telecom and keep a keen eye on Reliance which has formed a W formation on technical canvas. Stay away from financial / banking sector until further clarification. Lemme tell you, if nifty has to break the significant level of 6320-6330, banking sector has to give its full support !!

CNX Nifty closed just above its daily 21 moving average. Nifty untill yesterday had been range bound with the band of 6250 on the upside and 6150  to the downside. However yesterday it seemed to have broken above the weekly band and has closed just above its 21 MA today. Traders still need to wait until there is a breakout either above or below the range to make long or short positions in high beta sector respectively. Stock Watch: Since the tricky nature of Nifty for the day persisted, it is advisable to have a micro view and be stock specific. Short PFC (power finance corp), Jan Series @149.5 levels with a target of 145 (3 %) to the downside. Keep a stop loss at 150.5. Trade days: 2-3 sessions Long DivisLab @ 1280-1285 levels with an upside target of 1340 (3%) with a stop loss of 1265. Trade Days 3-4 Sessions

NEW DELHI: Farm equipment maker Escorts Ltd today reported 3.84 per cent decline in its total tractor sales at 3,852 units in December 2013.  The company had sold 4,006 units of tractors in December 2012, Escorts Ltd said in a statement.  Domestic tractor sales stood at 3,809 units during the month as against 3,988 units in December 2012, down 4.48 per cent.  Exports jumped by over two-fold to 43 units in December 2013 as compared to 18 units in the same month previous year, it added.  Source: Economic Times