Market outlook 08-09-2010

US Markets closed lower.
Europe markets ended negative.
Asian markets are trading in red.
Expect Indian Markets to open weak.
Nifty: (5604) Support 5547 and Resistance 5645.

INTRADAY BEEPS

BUY RENUKA TARGET 78 SL 68;
BUY TATA GLOBAL TARGET 140 SL 121;
BUY INDIA CEMENT TARGET 120 SL 110;
BUY TATA INVEST TARGET 585 SL 560;
BUY M&M FIN TARGET 645 SL 610;
BUY BALRAMCHIN TARGET 95 SL 87;
BUY SUN PHARMA TARGET 1750 SL 1700;
BUY ASTRA MICRO TARGET 70 SL 60;

Market outlook 07-09-2010

US Markets were closed yesterday.
Europe markets ended green.
Asian markets are trading mixed.
Expect Indian Markets to open flat.
Nifty: (5577) Support 5468 and Resistance 5620.

INTRADAY BEEPS

BUY TATA STEEL TARGET 590 SL 570;
BUY UFLEX TARGET 185 SL 176;
BUY FEDERAL BANK TARGET 360 SL 340;
BUY MPHASIS TARGET 670 SL 640;
BUY PROVOGUE TARGET 70 SL 64;
BUY WOCKHARDT TARGET 250 SL 238;
BUY THOMAS COOK TARGET 77 SL 70;
BUY RANBAXY TARGET 530 SL 515;
BUY GEODESIC TARGET 105 SL 99;
BUY APIL TARGET 735 SL 705;


STOCK BEEPS

-RComm to seek shareholder nod to raise funds via QIP issue
-HDFC Bank hikes benchmark PLR by 50 bps to 16.25%
-Orissa may find it tough to give us another mine: Vedanta
-Ind-Swift board approves preferential issue of 80 lakh convertible warrants to promoters group
-Andhra Cements allots 31 lakh shares at Rs 24/share to HDFC & IDFC against outstanding obligation
-SEL Manufacturing: Board meet on September 7 to decide upon issue of GDR up to USD 35 million
-Gujarat NRE Coke: Board Meet on September 10 to issue FCCB &Convertible warrants to promoters
-Telenor Investors plan to exit India as Venture's Losses Pile Up
-Karur Vysya board meets today on Bonus & Rights Issue
-Fortis may transfer realty assets to Singapore’s REITS to raise funds
-Oil Ministry refers Cairn India deal to SEBI
-Australia’s Oilex strikes huge natural gas discovery in Gujarat, may hold 1.5 trillion cubic feet
-South African body accuses Apollo Tyres of cartelization, told to pay admin penalty equal to 10% of its sales in FY08
-Labour union takes Raymond to court over workers’ compensation

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