Corporate News Updates 08-Feb

Net profit of Assam Company India rose 474.35% to Rs 10.97 crore in the quarter ended December 2010 as against Rs 1.91 crore during the previous quarter ended December 2009. Sales rose 2.59% to Rs 94.94 crore in the quarter ended December 2010 as against Rs 92.54 crore during the previous quarter ended December 2009.

Net profit of Sah Petroleums rose 521.74% to Rs 4.29 crore in the quarter ended December 2010 as against Rs 0.69 crore during the previous quarter ended December 2009. Sales rose 28.31% to Rs 97.08 crore in the quarter ended December 2010 as against Rs 75.66 crore during the previous quarter ended December 2009.

Net profit of Arora Fibres rose 157.69% to Rs 0.67 crore in the quarter ended December 2010 as against Rs 0.26 crore during the previous quarter ended December 2009. Sales declined 5.66% to Rs 5.17 crore in the quarter ended December 2010 as against Rs 5.48 crore during the previous quarter ended December 2009.

Net profit of Camlin Fine Chemical rose 168.89% to Rs 1.21 crore in the quarter ended December 2010 as against Rs 0.45 crore during the previous quarter ended December 2009. Sales rose 27.91% to Rs 42.35 crore in the quarter ended December 2010 as against Rs 33.11 crore during the previous quarter ended December 2009.

Amid concerns of alleged 'surrogate practices' of 'Big Four' accounting firms,regulator ICAI has asked PriceWaterhouseCoopers, KPMG , Ernst & Young and Deloitte to desist from acquiring Indian audit outfits.

State-run power equipment-maker BHEL today said it has signed an agreement with Spain's Abengoa to set up solar power projects in India.

JSW Steel on Monday reported 9% increase in its crude steel production in January to 5.8 lakh tonnes from 5.33 lakh tonnes a year earlier.

Entertainment firm Shree Ashtavinayaka is joining hands with a little-known business group LFS Global for a multi-billion dollar project to build India's largest film city near Mumbai modeled on the lines of Hollywood's Universal Studios.

Founders of Kavveri Telecom Products will launch an open offer to buy back a further 20% in the firm at 116.47 rupees each.

Tags: Corporate News, Corporate Updates, BSE/NSE Movers

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Technical Analysis 08-Feb-11

Market may open with a flat note and is expected to trade sideways with minor positivity in the morning session.

Sensex (18037)
Sensex has resistance at 18168 and 18228. Support at 17919 and 17839.

NIFTY (5396)
Resistance at 5410, 5435 and 5450. Support at 5384, 5379 and 5348 below further selloff.

RECOMMENDATIONS

1) JUBILANT FOOD (515)
The support is at 505 and 500. Resistance at 521 above it can test 540 and 562 (Buy for delivery)

2) LANCO INFRA (46.25)
Support at 45.1 and 43.75. Resistance at 47 above it can test 49 and 51. (Buy for delivery)

3) BHARTI SHIPYARD (158.4)
The support is at 153 and 148. Resistance at 161 above it can test 165 and more. (Buy at lower)

4) SANGAM INDIA (46.75)
Support at 45 below 43. Resistance at 49 above 54. (Buy at lower levels)

5) ITI (37.55)
Resistance at 38.4 above 40.1 and 41.44. Support at 35.9 and 35.35. (Buy at lower for short term)

DERIVATIVE STRATEGIES
SELL PUNJLLOYD FUTURES AROUND 89.50 LEVELS
BUY BPCL FUTURES AROUND 590 LEVELS

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Stock Trading lost in stoploss method

The most important, the most difficult, and the first skill that a trader must learn is to cut their losses quickly. It is essential (as we all have read many, many times); we only lose significant money by holding onto losing positions. So why do so many (perhaps all) of us find it so difficult? What is it about cutting a loss that is so hard? The answer, we believe, is in what we say to ourselves about what a loss means.

There is a natural tendency for most people, in any area of life, to not take responsibility for results and behaviors that appear negative. We want to see ourselves in a good light and it is tempting to try to avoid responsibility for acts that we consider bad.

I have noticed for example, that liars (I mean here people who habitually lie) do not see themselves as liars. For every lie that they are conscious of, they have their justifications. In their mind the lie would have been to save someone else's embarrassment or disappointment; something that allows the liar to feel that not only they are not acting deceitfully, but they are actually doing a good and kind act.

I remember once a teacher at my junior school crudely picking some bit of stuck food out of his teeth. After he had finished he justified himself by saying to us (8 year olds) that he only did it because he knew that we had no table manners. We weren't judging him; he was judging himself and using us as his scapegoat.

What we resist persists

We all lie to some degree and I don't have a problem with that; what I do consider important is how we explain the lie to ourselves. When you lie are you honest with yourself about it, or do you make up a story to yourself so you don't feel guilty? It is a difficult question to answer, but one that will say a lot about your trading.

The most important, the most difficult, and the first skill that a trader must learn is to cut their losses quickly. It is essential (as we all have read many, many times); we only lose significant money by holding onto losing positions. So why do so many (perhaps all) of us find it so difficult? What is it about cutting a loss that is so hard? The answer, I believe, is in what we say to ourselves about what a loss means.

It is the meaning we attach to a loss that determines whether we can accept it and let it go; or whether we refuse to accept it and in so doing hold on to it. What we resist persists. If a loss means something bad about you; if it means you're a loser, or a failure or just no good, or doomed to financial subsistence or whatever; then you won't be willing to accept it.

Too Big

Take it to an extreme, if it was a life or death matter, if you were going to be beheaded if you have a losing trade; you would never, ever, accept the loss, you would hold on for ever and as soon as the position was 1 point in profit, you would grab it immediately! Isn't that how many of us trade now?

If so, ask yourself what does a losing trade mean about you?

If a loss means something negative about us we won't want to accept it, this is human nature. We would rather hold on as long as we can and then, when we inevitably have to take the loss because it is now too big; too big to hide, too big to ignore, too big to refuse to accept; we look for our scapegoat.

The 'they' of the market: the controllers, the insiders, the manipulators, or even the market itself; anything but to take the judgement that the loss implies. The objective of our self-deceit is to avoid the judgement that the loss imposes. In the same way that the teacher condemned the school children in order to avoid the judgement about his manners, so do we look to shift the blame to some third party.

Significance of Loss

The problem here lies, not with our self-deceit, but with the meaning that we attach to having a loss. If a loss means something negative, of course we don't want to accept it; but if a loss had no significance to us, accepting it would be easy.

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Free Intraday Stock Tips 08-Feb-11

Free Intraday Stock Tips for 8th Feb 2011

BFINVEST ( BF Investment Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	128	120	135	144
SHORT BELOW	119	121	112	97

RSSOFTWARE  ( R. S. Software (india) Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	60	58.5	62	64
SHORT BELOW	58	59.5	57	54

RENUKA ( Shree Renuka Sugars Ltd )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	93	91.3	94	96
SHORT BELOW	91	92	90	87

DLF   ( DLF Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	243.5	241	246	250
SHORT BELOW	240	243	239	234

CMAHENDRA   ( C. Mahendra Exports Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	170	166.5	172	175.5
SHORT BELOW	166	167.5	164.5	159

WELCORP ( Welspun Corp Limited )

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	168	164.5	172	177
SHORT BELOW	164	165.5	161	153

Tags: NSE stock tips, Free Intraday Stock Tips, intraday tips for 08th Feb, intraday recommendations

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Corporate News Updates 07-Feb

Net profit of Rama Phosphates rose 2776.00% to Rs 7.19 crore in the quarter ended December 2010 as against Rs 0.25 crore during the previous quarter ended December 2009. Sales rose 49.08% to Rs 88.76 crore in the quarter ended December 2010 as against Rs 59.54 crore during the previous quarter ended December 2009.

·         Net profit of Finolex Industries rose 213.84% to Rs 35.59 crore in the quarter ended December 2010 as against Rs 11.34 crore during the previous quarter ended December 2009. Sales rose 27.61% to Rs 530.14 crore in the quarter ended December 2010 as against Rs 415.45 crore during the previous quarter ended December 2009.

·         Net profit of Narendra Properties rose 254.17% to Rs 1.70 crore in the quarter ended December 2010 as against Rs 0.48 crore during the previous quarter ended December 2009. Sales declined 10.38% to Rs 2.33 crore in the quarter ended December 2010 as against Rs 2.60 crore during the previous quarter ended December 2009.

·         Net profit of Walchand Peoplefirst rose 484.62% to Rs 0.76 crore in the quarter ended December 2010 as against Rs 0.13 crore during the previous quarter ended December 2009. Sales rose 23.96% to Rs 3.88 crore inthe quarter ended December 2010 as against Rs 3.13 crore during the previous quarter ended December 2009

·         Favouring outright sale of closed PSUs, Heavy Industries Minister Praful Patel today said the ailing Scooters India (SIL) could be considered for complete privatisation.

·         FMCG major Hindustan Unilever (HUL) today said there could be further price hikes in its products as input costs, particularly that of commodities continue to rise.

·         Ramaraju Surgical Cotton Mills net profit rose 4466.67% to Rs 5.48 crore in the quarter ended December 2010 as against Rs 0.12 crore during the previous quarter ended December 2009. Sales rose 25.41% to Rs 50.30 crore in the quarter ended December 2010 as against Rs 40.11 crore during the previous quarter ended December 2009.

·         World number two truck maker Volvo posted a smaller-than-expected rise in fourth-quarter earnings on Friday, hit by problems as output was ramped up, but raised its market outlook for its main markets.

Tags: Corporate News, Corporate Updates

Technical Analysis 07-Feb-11

Market may open with a flat note and is expected show some recovery but as the major trend is still negative we may see higher level selling pressure with nifty having support at 5348 levels.

Sensex (18008)

Sensex has resistance at 18131, 18152, 18261 and 18318. Support at 19898 and 17800.

NIFTY (5395)

Resistance at 5421, 5429, 5468 and 5477. Support at 5375, 5368, 5350 and 5348 below further selloff.

RECOMMENDATIONS

1) RAMA PHOSPHATE (67.1)

The support is at 65 and 63.25. Resistance at 69 above it can test 71, 74 and more (Buy at declines)

2) HUL (273)

Support at 269 if moves below it may test 265 and more. Resistance at 276 and 279. (Sell at higher)

3) RCF (85.75)

The support is at 84.35 and 83.25. Resistance at 86 above it can test 89 and 90.

4) SIEMENS (848.5)

Support at 843 below 838. Resistance at 853 above 858 and 862.

5) AXIS BANK (1222)

 Resistance at 1233 and 124785. Support at 1215 below further selloff is likely. (Sell at higher)

DERIVATIVE STRATEGIES

 - SELL HCLTECH FUTURES AROUND 489 LEVELS

 - SELL AUROBINDO PHARMA FUTURES AROUND 1162 LEVELS