Market outlook 03-08-2010

US Markets closed higher.

Europe markets ended positive.

Asian markets are trading green.

Expect Indian Markets to open positive.

Nifty: (5432) Support 5366 and Resistance 5477.



INTRADAY BEEPS



BUY YES BANK TARGET 315 SL 300;

BUY PUNJAB NATIONAL BANK TARGET 1150 SL 1100 ;

BUY HINDALCO TARGET SL ;

BUY SOBHA TARGET 340 SL 329 ;

BUY MLL TARGET 52 SL 46 ;

BUY JP ASSOCIATES TARGET 122 SL 115;

BUY IBREALEST TARGET 173 SL 164 ;

BUY GMR INFRA TARGET 60 SL 55 ;

BUY AUROBINDO PHARMA TARGET 999 SL 980 ;



STOCK BEEPS



-Maruti hikes car prices by Rs 2,000-7,500

-Lok Sabha passes State Bank of India Amendment Bill 2010, Bill will allow SBI to raise capital via rights issue

-Hero Honda July total sales at 4.27 lakh units versus 3.66 lakh units (YoY)

-Zenith Birla approved to raise funds worth Rs 350 crore

-Oriental Hotels: Board approved stock spilt in ratio of 10:1

-Malaysia’s Astro to increase stake in Sun Direct

-Indian banks hit hard by Zoom Developers’ delinquency, banks collectively owe Rs 2650 crore

-Results Today: Hindalco, Punj Lloyd, NDTV, Swaraj Engines, Welspun India, Shiv Vani Oil

-Ex-Dates: ITC :Ex-Bonus 1:1

-Rel Infra mulling demerging its EPC business

-SEBI issues show cause notice to RNRL and Reliance Infra

-Tata Steel In talks with Thailand-based SSI for selling Teeside

-NMDC Q1 PAT at Rs 1504 crore versus Rs 773 crore ((YoY))

-Nestle India Q2 Net profit at Rs 195 crore versus Rs 163 crore (YoY)

-Madras Cement Q1 Net profit at Rs 72.6 crore versus Rs 138.4 crore (YoY)

-Gulf Oil Q1 PAT at Rs 9.3 crore versus Rs 20.9 crore ((YoY))



BUZIBIZ



Value Pick for Long Term Delivery >> 01-08-2010 <<



1] Buy Apollo Tyres Ltd. - One year Return - 25%

Recommendation: BUY

CMP: Rs:64

Target Price: Rs:80 >> More >>



2] Buy Essel Propack - One Year Return - 40%

Recommendation: BUY

CMP: Rs:48

Target Price: Rs:70 >> More >>



3] Buy Orient Paper & Industries - One Year Return - 15%

Recommendation: BUY

CMP: Rs:54

Target Price: Rs:63 >> More >>



4] Buy Genus Power - One Year Return - 30%

Recommendation: Buy

Price Target: Rs:300

CMP: Rs:229 >> More >>



5] Buy 3i Infotech - One Year Return - 60%

Recommendation: Buy

Price target: Rs:100

Current market price: Rs:63 >> More >>



6] Buy Bank of Baroda - One Year Return - 25%

Recommendation: Buy

Price target: Rs:935

CMP: Rs:753 >> More >>



7] Buy IPCA Laboratories - One Year return 25%

Cluster: Ugly Duckling

Recommendation: Buy

Price target: Rs:350

Current market price: Rs:280 >> More >>



8] Buy Provogue India Ltd - One Year Return - 50%

Recommendation: Buy

Price target: Rs:90

Current market price: Rs:58 >> More >>