VIEWPOINT: WILL POLITICS TAKE PRECEDENCE?
While Indian stock market marched ahead in yesterday's session, a high voltage political drama was being played in the Rajya Sabha over Women's Reservation Bill. The government and the Congress got cold feet on the bill, the reason being the imminent loss of the support of 47 Lok Sabha MPs. These MPs include 22 from the Samajwadi Party, 21 from the Bahujan Samaj Party (BSP) and four from the Rashtriya Janata Dal (RJD). If they withdraw support, the UPA government would be reduced to a majority of four. Coming back to markets, after two days of flattish close, benchmark indices gained nearly two third of a percent in yesterday's trade. FII buying continued unabated as they provisionally bought worth Rs. 1132 cr. in cash segment and 947 cr. in the derivative segment. Market breadth was positive, but volumes however were lower than the previous session. Nevertheless, technically, markets are on a firm footing and Nifty is on track to scale 5200 before encountering any major resistance. Watch out for development on women's Reservation bill front, as in the case of pulling out of opposing parties, the government will be left with wafer thin majority, which the markets would not be happy to see. Immediate support in Nifty is placed at 5050.
OPEN POSITION CALLS | |||||||||
| Reco Date | STOCK | RECO PRICE | RECOMMENDATION | SL | TARGET | TIME FRAME | CMP | % Gain/ Loss on CMP | Comments |
| 05/01/2010 | ELECTRO STL | 51.70 | BUY 50% AT CMP AND 50% AROUND 47 | 42 | 67,75 | 2-3 MONTHS | 48.20 | -2.33 | Call Open |
| 16/01/2010 | BEML | 1185.00 | BUY 50% AT CMP AND 50% AROUND 1100 | 985 | 1525 | 2-3 MONTHS | 1069.8 | -6.36 | Call Open |
| 18/01/2010 | J B CHM | 66.50 | BUY 50% AT CMP AND 50% AROUND 61 | 55 | 83 | 2-3 MONTHS | 68.50 | 7.45 | Call Open |
| 02/03/2010 | USHA MARTIN | 91.90 | ACCUMULATE BETWEEN 92-91 | 86.4 | 98 | 3-4 DAYS | 95.8 | 4.24 | BOOK PROFIT |
| 06/03/2010 | IGL | 222.80 | BUY IN | 211.9 | 248 | | 224.2 | 0.63 | Call Open |
| 06/03/2010 | AVAYA GLOBAL | 240.35 | BUY IN | 222 | 270 | | 243.8 | 1.44 | Call Open |
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