Wednesday, 23 April 2014

INDIAN BENCHMARKS vault to record highs on F&O expiry

INDIAN BENCHMARKS scaled fresh all-time highs on the last day of April derivatives series due to strength in capital goods and banking stocks. Natco Pharma extended gains for the third straight session rising 10% after a US Supreme Court ruling paved the way for the company to launch the generic version of Teva's Copaxone.
 
Further, Reliance Industries Ltd has raised USD 550 million loan for part-funding expansion of its petrochemical plant and new gasification unit from Japanese banks. YES Bank reported fourth quarter (January-March) net profit at Rs 430 crore, up 18.8 percent compared to same quarter last year, driven by non-interest income.

The crucial resistance for Nifty is now seen at 6880 and above this 6900. Support for the immediate term is now placed at 6700 and next support will be 6650.

CS PERFORMANCE MESSAGE:


STOCK FUTURES:

FUTURES INTRADAY:
AUROBINDO PHARMA FUTURES BUY CALL 3 TG
LIC HOUSING FUTURES BUY CALL 3 TG
SHRIRAM TRANSPORT FUTURES BUY CALL 3 TG
RANBAXY FUTURES BUY CALL 2 TG
SUN PHRMA FUTURES BUY CALL 1 TG

PREMIUM FUTURES:
BANK OF BARODA FUTURES BUY CALL 1 TG (BOOKED AT 813.95)
RANBAXY FUTURES BUY CALL SL TRIGGERED

NIFTY FUTURES:
BANK NIFTY FUTURES BUY CALL 2 TG
NIFTY FUTURES BUY CALL BOOKED AT 6858.90

OPTION:
LIC HSG 270 CALL BUY CALL 3 TG
L&T 1340 CALL BUY CALL 3 TG

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADY:
NATCO PHARMA FUTURES BUY CALL 3 TG
ALEMBIC PHARMA BUY CALL 3 TG
HEXAWARE BUY CALL 3 TG (BOOKED AT 180)
RANBAXY BUY CALL SL TRIGGERED
SHASUN PHARMA SL TRIGGERED

STOCK CASH PREMIUM:
NATCO PHARMA BUY CALL 3 TG
ORIENTAL BANK BUY CALL BOOKED AT 244.90

TOP CORPORATE NEWS

Natco extends gains on US court ruling over generic Copaxone

Shares of Natco Pharma extended gains for the third straight session rising 10% after a US Supreme Court ruling paved the way for the company to launch the generic version of Teva's Copaxone.

RIL inches up after tying up ECA facility

Reliance Industries rose 0.36% after the company has signed loan co-financed by JBIC and Japanese banks backed by Nippon Export and Investment Insurance for up to $550 million.
YES Bank Q4 profit jumps 18% to Rs 430 cr, NPA improves

YES Bank reporting fourth quarter net profit at Rs 430 crore, up 18.8 percent compared to same quarter last year, driven by non-interest income. Net interest income grew 12.8 percent to Rs 719.6 crore on account of a cautious and steady growth in advances during the quarter while other income climbed 17.4 percent to Rs 445.52 crore year-on-year.

Muthoot Finance dips on discounted price for share sale

Muthoot Finance has dipped 4% after the company fixed price band of Rs 155-165 per share for its proposed share sale, which is at a discount to the prevailing share price.

AGRI WEEKLY COMMODITY REPORT

CHANA ......................
Chana May futures traded on a positive note on lower arrivals coupled with lesser than expected quantity marked for delivery in the April contract and settled 0.57% higher. Forecast of rains in Madhya Pradesh coupled with Skymet’s forecast of below normal rains and 25% chances of drought and in the 2014 monsoon season further supported an upside in the prices. Prices declined over the last few days on rising stocks on the exchange ware houses coupled with sluggish demand and increasing arrivals of the new season crop. Procurement of the pulse by NAFED is going on in major producing states such as Maharashtra and Karnataka since February, while procurement in MP has commenced since the start of this month. Procurement in Rajasthan by the NAFED has been delayed on the back of poor quality. Industry estimates of Chana (Chickpea) production is expected to be much lower at 6.50 million MT compared to government estimates at 9.79 million MT.
SOYABEAN & SOY COMPLEX ................
Soy futures eased on profit-taking, tracking rival palm oil prices. Palm oil futures on the Bursa Malaysia Derivatives eased on Thursday for the first time in five days as investors banked profits. Indian oilseed complex prices traded higher this week on gains in overseas prices amid weaker Rupee. India exported 223K MT of Soy meal and 95K MT of RMmeal in March vs. 183K MT of Soymeal and 82K MT RM meal in February. 

CBOT Soy complex prices traded higher on continued concerns that strong domestic and export demand may lead to further tightening of US Soy supplies. Importers in China, may default on as much as 2 million MT of shipments, according to the US Soybean Export Council’s Beijing office. 

TURMERIC 

Turmeric futures traded higher on NCDEX on the back of fresh positions built-up by speculators after demand picked up in the spot market from Indian and overseas markets. Moreover, limited stock position following restricted arrivals from major producing areas also influenced the yellow spice price in future trade. However, the uptrend may be limited due to huge carryover stocks.
DHANIYA ..................

Coriander futures lost previous gains and tumbled. Supply squeeze story is losing appeal. Massive crop in saurashtra would eventually drag market down. Coriander future are seen trading higher on lower production estimates and limited carryover stocks. Delay in new crop arrivals in kota and baran markets also supported coriander prices. As per market sources, around 26722 hectares under coriander in baran district is reported to have been damged. In jhalawar 25296 hectares got damaged out of 52400 hectares and in kota 23495 hectares.
JEERA .................

Jeera future ended higher on expectation of higher exports due to crop failure in Syria and turkey. The geopolitical tension on Syria and turkey have led to supply crunch in global markets. However, weakness is expected to continue in jeera on back of strong production estimates for current year and sufficient stocks in physical market.
MENTHA OIL .............
Mentha Oil traded sideways as short covering at the lower levels supported the falling rates. Low activities in mandis due to the ongoing Elections in UP have kept demand on the lower side. Reports of lower crop sowing had been there. But low demand and high stocks limited the uptrend. With prices having fallen a lot over last few months, some short term recovery is not ruled out as domestic and export demand has started rising. Exports and domestic pharmaceutical Industries demand are likely to rise in coming weeks. Banning of Gutka in some states continues having negative impact on Mentha Oil demand. Latest reports from Spice Board indicate that for the period April-November last year, exports for Mint value added products like Oil, Mentha oil and its crystals rose 129% in volumes at 15,850 and 62% in value at Rs 1975 Cr w.r.t. same period the previous year.


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Tuesday, 22 April 2014

COMMODITY MARKET LEVELS 23 April 2014


COMMODITY MARKET LEVELS
Agri - Commodity Market Levels

CS CHANA (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:3040                                                  
SUP2:2975            
RESIST1:3210
RESIST2:3260
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS JEERA (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:9800
SUP2:9600
RESIST1:10450
RESIST2:10700
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS TURMERIC (MAY) OVERVIEW:
TREND BULLISH
SUP1:6810
SUP2:6600
RESIST1:7050
RESIST2:7320
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS SOYABEAN (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:4345
SUP2:4285
RESIST1:4520
RESIST2:4700
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
Bullions - Commodity Market Levels
CS COPPER (APRIL) OVERVIEW:
TREND CONSOLIDATE
SUP1:405
SUP2:400   
RESIST1:412
RESIST2:418
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS CRUDE (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:6195
SUP2:6140
RESIST1:6340
RESIST2:6420
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS GOLD (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:28480
SUP2:28200
RESIST1:29000
RESIST2:29150
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
CS SILVER (MAY) OVERVIEW:
TREND CONSOLIDATE
SUP1:41500
SUP2:40300            
RESIST1:42800
RESIST2:43450
TRADING STRATEGY: BUY ON DIPS
CAPITALSTARS.COM +919200099927
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