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Strong volume based upside seen at 5,760

Tue, 18 Jan 2011 19:23:04 GMT

As expected, stability has returned to the market, thanks to strong buying in technology stocks and some long positions build up by FIIs in the index futures and stock futures. The Nifty, after consolidating around 5,660-5,700, closed at 5,728 on short covering by floor traders and value buyers. The January futures settled at a 10-point premium to spot and shed 1.84 million shares in open interest, mostly through buy-side trades from liquidity providers and value buyers. The top traders covered their short positions above 5,700, the trade summary matrix (TSM) indicates.

Analyst's corner

Tue, 18 Jan 2011 18:58:54 GMT

Thangamayil Jewellery (TJL) trades in gold, diamond and platinum jewellery. The ornaments are also made to order according to the specific requirements by the customer. TJL has continuously increased its market share to 15 per cent currently in the sale of gold and diamond jewellery in the city of Madurai and surroundings. The strategy of TJL is to focus on Tamil Nadu and tapping the rural population. TJL plans to take the total number of retail showrooms to 9 by 2010-11 and 15 by 2011-12 with a capex of Rs18-20 crore to be funded via internal accruals and IPO proceeds. There is a shift in the jewellery market from the unorganised to the organised players, which will benefit the company. The expenditure incurred towards Hallmarking as well as the promotional efforts is likely to add further brand value. Maintain buy.

Today's picks

Tue, 18 Jan 2011 18:57:45 GMT

The rise yesterday appeared to be driven by short-covering and profit booking. The stock is likely to revert back to support between Rs 1,235 and Rs 1,250. Keep a stop at Rs 1,285 and go short.

Q: Rahul Singh, Standard Chartered Securities India

Tue, 18 Jan 2011 18:55:00 GMT

The markets have been choppy in the recent past due to domestic concerns regarding rising rates and slower growth. Also, a pick-up in economic growth in the US is making it attractive. In this backdrop, Jitendra Kumar Gupta, spoke to Rahul Singh, managing director and head of equity research India at Standard Chartered Securities India for his views on these developments and the outlook on earnings and the markets.

TCS steals a march over Infosys again

Tue, 18 Jan 2011 18:52:00 GMT

Consistently improving financials and better outlook have led analysts to up their earnings estimate for the company??It was not surprising to see the TCS stock jump over 5 per cent on Tuesday vis--vis the 1-2 per cent rise each in the broader markets and the Infosys share price, thanks to the strong set of numbers for the quarter ended December 2010. Post its excellent results, which the company announced on Monday evening (after market hours), brokerages have raised their 2011-12 EPS

Market voice: Kishor Ostwal

Tue, 18 Jan 2011 18:51:00 GMT

Kishor Ostwal, Chairman and Managing Director, CNI Research tells Krishna Merchant that the volatility in the markets will increase further.

Sensex rises 1%; Tata Consultancy at record

Tue, 18 Jan 2011 18:48:58 GMT

TCS bright outlook also boosts smaller rivals Infosys Technologies, Wipro.

More FIIs bearish on India in Jan

Tue, 18 Jan 2011 18:46:00 GMT

Sluggish market, inflation take toll; BofA-ML survey finds optimism on global growth.

Tyre firms demand duty-free NR imports

Tue, 18 Jan 2011 18:44:35 GMT

While welcoming the recent relief measures by the government for natural rubber (NR) imports, the tyre industry has asked for a complete waiver of import duty.

Industrial commodities to shine this year: Analysts

Tue, 18 Jan 2011 18:42:07 GMT

Base metals and bullion may offer up to 15-25% returns on improved demand.

Guard your investments from inflation

Tue, 18 Jan 2011 18:32:51 GMT

Its a double whammy: The rising inflation has not only increased your food bill, but also reduced your real returns from investments.

Onion prices fall 33% this month

Mon, 17 Jan 2011 19:28:00 GMT

Increased supply, govt intervention help.

Have a long-term perspective

Mon, 17 Jan 2011 19:26:00 GMT

At eight per cent, returns from infrastructure bonds are decent. But liquidity is an issue.

Today's picks

Mon, 17 Jan 2011 19:25:41 GMT

The stock has a potential upside till Rs 680 today. Keep a stop at Rs 658 and go long.

Margin, order flow woes in the near term

Mon, 17 Jan 2011 19:23:00 GMT

Until the headwinds ease, the L&T stock is likely to remain under pressure.

Silver may outshine gold this year

Mon, 17 Jan 2011 19:11:00 GMT

In line with many other commodities, including precious metals, silver, often described as poor mans gold, has shed some gains from a 30-year high at $30 an ounce in December to trade now at a little less than $29.40 an ounce. Such correction is in order as the November US unemployment rate fell to 9.8 per cent, this years GDP growth forecast for the worlds largest economy is three per cent and the dollar rally is finally on.

Tyre makers to raise prices again

Mon, 17 Jan 2011 19:10:48 GMT

Tyre manufactures may increase prices again due to the sharp rise in natural rubber (NR) prices. It will be the fourth increase in the current financial year. The quantum may vary from company to company but the range may be two-five per cent.

Govt may reopen export ceiling for cotton yarn

Mon, 17 Jan 2011 19:09:00 GMT

Had put a cap of 720 million kg this year.

Nifty likely to get strong support at 5,630

Mon, 17 Jan 2011 19:02:26 GMT

The Nifty moved in a narrow range and closed in a Doji pattern as participants were afraid to trade at the current level. The volume in the derivatives segment dropped significantly, over 66 per cent, as the market remained stable and intra-day movements were more or less predictable. Technology stocks, HDFC, Bajaj Auto and Bharti Airtel helped the Nifty close in the green. The market picture chart, which provides an insight into where fair value is and who is controlling the market, is hinting at a narrow band trading tomorrow.

IT companies help Sensex gain 0.1%

Mon, 17 Jan 2011 18:39:00 GMT

Software majors rebounded from the recent steep decline ahead of sector leader Tata Consultancy Services earnings expected after market hours.