Morning Bells (10 Apr 13)

Good Morning Friends.

Expect more from yourself than from others because expectations from others can hurt you a lot while expectation from you inspires a lot.

After rallying for three days in a row, profit-booking gripped the indices today. Traders are adopting a cautious stance ahead of the April industrial productivity data expected on Friday.

Gainers –

Punjab National Bank, HCL Technologies, Ambuja Cement, State Bank of India, Reliance Infrastructure, Bank of Baroda, Tata Consultancy Services and Ultra Tech Cement were among the major gainers.

Losers -

Jindal Steel, Asian Paints, Sun Pharmaceuticals, NMDC, Axis Bank, SesaGoa, Cipla and Ranbaxy were among major losers.

Sectoral –

The healthcare, metal, realty and consumer durable stocks were the major laggards in trade today.

Domestic Front –

Global Front –

US Jobless Claims-

The number of Americans filing new claims for unemployment benefits dropped to its lowest level in nearly 5-1/2 years last week, signaling labor market resilience in the face of fiscal austerity.

Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008, the Labor Department said on Thursday.

Claims for the prior week were revised to show 3,000 more applications received than previously reported. Economists polled by Reuters had expected first-time applications to rise to 335,000 last week.

US stock index futures pared losses on the report, while Treasury debt prices trimmed gains. The dollar trimmed losses against the yen.

The third straight weekly decline in claims pushed them further below the 350,000 mark, which economists normally associate with a firming labor market.

Claims are showing no sign of a pick-up in layoffs even as other parts of the economy such as manufacturing start to show strain from tighter fiscal policy.

=====================  MARKET OUTLOOK  =====================

No outlook today, lets see how market reacts, as today is big even and its Friday too.

The INDIA VIX on NSE was down 0.95% and ended at 16.60 against previous close of 16.76.

FNO PCR was 1.09 against previous close XXX.

Indian Rupee – Rupee lost 9 paisa and was trading at 54.25 against its previous close of 54.16.

S&P 500 (US) was trading at 1631.15 down 1.54 then its previous close at the time of writing M Bells.

RESULT CALENDER –

=======================  NIFTY OUTLOOK  ========================

No outlook.

Opening – Seems a bit positive or flat, then will be holding its breath till March IIP.

========================  STOCK OUTLOOK  ======================

(Stock outlook needs to watch stock movement carefully and then one can bet after having a look, I tried to put related info which will help you in taking positions.)

TM

As per expected lines, TM reached from 286 to our Part profit booking range of 302-305, TM exactly decline from 305. Then it was also expected that from 305 it will close below 301 which also proved true. Now if IIP is not disappointed then we can see TM in the range of 306-312 which is no trade or no guess zone.

Importantly TM 270PE is not reacting much to movement in TM, its hovering in the range of 50 paisa which means people are still expecting TM to fall below 290 level, lets see.

After Mahindra and Mahindra , Tata Motors is also looking to redefine its sport utility vehicle portfolio as government continued on its stance of levying additional excise duty of 3 percent on certain type of SUVs.

According to the Budget 2013-14, SUVs will be charged additional tax on three parameters. Vehicles above 4 metres or above a ground clearance of about a 170 millimetres and having an engine capacity of 1.5 litres would be subject to the excise duty hike.

Tata Motors spokeperson informed that the company had taken the SUVs issue in hand and will, going forward, look at reducing the overall cost of ownership of the vehicles by giving a better mileage.

Junilant Foodworks’

The Jubilant Foodworks' stock lost over 7.5% at Rs1,014.  The company posted a Q4 FY13 net profit of Rs327.11mn as compared to Rs293.32mn in the same period last year.

Ranbaxy-

Ranbaxy declined 1.3% to close at Rs438 per share after the company’s Q1 CY13 net profit declined 91.52% at Rs70.15 crore as against Rs827.23 crore in the corresponding period last year.

PNB-

The Punjab National Bank stock shot up by over 4.5% after Q4 FY13 non-performing loans at the state-owned lender increased 4.27% from 2.93% a year ago. It reported a 20.6% fall in net profit at Rs11.3 billion as against Rs14.2 billion year-on-year. Net interest income surged 14.2% during the quarter.

Asian Paints-

Asian Paints dripped 3.7% to close at Rs 4,673 after Q4 FY13 net profit saw a 2.06% fall at Rs239.56 crore.

Union Bank-

Union Bank of India gained 1.3% at Rs 242 today after the bank's Q4 FY13 net non-performing assets to net advances decreased 1.61%.

==================== OPEN CALLS ====================

# Please remember when I make special remark with any position then one should need to take care of that else you can make loss instead of profit.

# Be with strict SL and don’t hesitate to book even small profit if Nifty doesn’t shows strength.

TV18 – Bought @28.5 TG 34+ SL 25.5 (Qty 1K)

DLF 250CE – Bought @4.25 TG 7.5+ SL 2.5 (Qty 1 Lot)

=============== INVESTMENT BASKET ===============

(Stock in this section is with view of 3 months to 1 year)

============ PL Sheet (started from Jan 2013) ============

(If someone find any error in PL, please draw our attention)

MG Blog Fronm Jan 13 to April 13 (Total 56,050)

May 2013 - +3000

Billionaire Club from Jan 13 to April 13 (Total 1,10,950)

May 2013 - +6000

Today’s MG Mantra –

Nifty spot trend declining level is 6070, major resistance 6100, 6130, major support 6030, 5990

============ Join MG on FaceBook ============

Join MG on FB for live update – www.facebook.com/mudraguru.india

Please make sure you need to send a message on FaceBook – “I am blog reader” as currently I am not accepting FB request from unknown person.

Have a Profitable day – MG