Unitech in discussions to sell 26%

It is learnt that Unitech is in discussions with three private equity players to sell nearly 20-26% of its equity for an projected Rs 25 billion, reports Economic Times.

The funds would go into diluting its debt load, which is currently at Rs 80 billion.

It is learnt that Unitech`s board on January 31, approved the proposal to offload stake in the company, and the management is in discussions with international private equity funds such as TPG Axon, SUN Apollo and Bergruen Holding.

The company would also bring up Rs 7.50 billion by selling its five-star hotel in Gurgaon and an office complex in south Delhi`s Saket business district.

It is believed that this will make it one of the most under leveraged real estate companies in the country.- MyIRIS

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Maruti Suzuki India sales up 5.39% in Jan 09

Car market leader, Maruti Suzuki India (MSIL), announced a rise of 5.39% in its sales for the month of January 2009. The car maker sold 71,779 vehicles in January 2009 as against 68,107 vehicles in January 2007.

For the month of January 2009, domestic sales of the company increased by 5.58% to 67,005 vehicles. Its exports during the month rose 2.71% to 4,774 vehicles.

During the month, the company`s A3 segment consisting of SX4, Esteem and Desire increased 2.24 times to 6,590 vehicles The total sales for the passenger car segment rose 4.09% to 65,819 vehicles.

The company disclosed that this was its highest ever domestic and total sales in January 2009. It further disclosed that its previous highest monthly domestic sales were 65,216 units in November 2007 and its previous highest total sales of 71,772 units was registered in March 2007. - MyIRIS

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Nifty Daily Chart Analysis (2849)

EOD chart has formed “Bullish Engulf Pattern” with “Hanging Man Pattern” on Friday. We are stick to same view as we advocated last week, Nifty is bullish above 2869 level on closing basis. Currently Nifty is well above its 13 EMA(2816) and 34 EMA(2867) which suggest there is some amount of Bull steam is left for near term although that doesn’t mean that market is bullish , for intermediate term outlook is still bearish unless and until if closes above 3147. Currently trend line support exist at 2800. Daily RSI and MACD is exhibiting positive divergence where as Stochastic is in over bought region.

Support:- 2841/2827/2815

Resistance:- 2929 /2953

By Dhawal Joshi

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Market outlook and Intraday tips for 2nd Feb.

US markets on Friday were marginally lower.
Europe markets ended lower.
Asia has opened weak.
India is bonded to open flat to negative.

The support for the Sensex is 8246-9130 and the resistance to the up move is at 9551

Nifty: (2875) the support for the Nifty is at 2800 and the resistance to the up move is at 2904-2962.

Day Trading Ideas -

TCS
Buy above 514 for targets of 520 and 528
Sell below 507 for targets of 502 and 498

RCom
Buy above 176 for targets of 180 and 184
Sell below 166 for targets of 162 and 158

IFCI
Buy above 19.60 for targets of 20.10 and 20.50
Sell below 18.50 for targets of 18.10 and 17.55

Unitech
Buy above 33.15 for targets of 34.20 and 35.10
Sell below 31.10 for targets of 30.25 and 29.50

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NIFTY Auto generated Technical Analysis.

NIFTY Chart -



Nifty EOD Technicals ( Auto Update)-


*Credits Market Calls

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Terms you need to know -

Pivot Point - A technical indicator derived by calculating the numerical average of a particular stock's high, low and closing prices.

NIFTY TRIN - Is short form for TRaders INdex. A technical analysis indicator calculated by taking the advances-to-declines spread and dividing that by the volume of advances to declines.
TRIN is for NIFTY 50 Stocks ONLY and not for ALL stocks.

RSI - A trader using RSI should be aware that large surges and drops in the price of an asset will affect the RSI by creating false buy or sell signals. The RSI is best used as a valuable complement to other stock-picking tools.

EMA - The Exponential Moving Average is calculated with the following formula (courtesy of stockcharts):

EMA(current) = ( (Price(current) - EMA(prev) ) x Multiplier) + EMA(prev)

Depending on the period you are using, the EMA will apply a percentage for how much the recent price action is weighted:

For example, a 10-period EMA's Multiplier is calculated like this: (2 / (Time periods + 1) ) = (2 / (10 + 1) ) = 0.1818 (18.18%)

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Weekly News letter and Stocks to watch out for.

This week we were in green. Started off green and ended in green.
Satyam is yet the breaking news on all news paper every day.
Inflation has increased slightly.
Main concern still remains for global recession.
Last week we ended a high note due to global cues.
Obama is bailing out US , that's certainly a good news for us.
The Q3 Result for few companies were worst say for TATA Motors had a worst loss in 7 yrs.

Stocks to watch out for in this week.
Unitech.
Satyam
Praj Ind.
BHEL.
RNRL.
Reliance Ind.

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Whats intresting this week. - $10 or Rs 500 laptop to be displayed on 3rd Feb.

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How should you trade Satyam ?

Satyam is a stock who's movement you cant predict. This stock is moving according to the news and rumors coming.
First LNT hikes its stake in Satyam and now I Gate solutions and even Hinduja Group are eying Satyam.
When the stock price was 20 - 24 people thought it would go further down but it moved up from there as it got new board of directors, its management changed.
Now if the stock falls below Rs 40 it can be a value buy as Satyam is suppose to get order worth 400 million $ according to ET.
More over its management may be restructured again in 3 months.
Where trading is concerned Satyam is having good movements along with high volumes but one needs to be cautious in doing so.

Whats intresting this week. - $10 or Rs 500 laptop to be displayed on 3rd Feb.

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How would you trade Satyam ?
Short or Long ?
Comment.

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NIFTY Weekly technicals.

Last week we saw a strong opening and also we ended strong. New and new buyers for Satyam..
NIFTY close at 2874.8. Has more advances against decline. I am neutral for next week.
NIFTY TRIN at 0.286
Over all Nifty bullish for next couple of days.
5 day EMA at 2821.3

Pivot - 2843
Support - 2805 and 2736
Resistance - 2912 and 2950
Over all range bounded mode in coming week.

Simple moving averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2800	2777	2785	2854	2886	2843	3891

Chart -



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Technical Analysis on Larsen and Tubro.

CMP - 690.25
The company which recently hiked its stake in Satyam from 4% to 12% is very much a buy in range of 665 to 684 for a sharp upmove till 745.



EDO chart shows some strength at 660 levels.

Support and Resistance for LNT.
Pivot - 677
Support - 659 and 628
Resistance - 708 and 725

If the stock crosses 725 range it can touch 745 in short term. (1 - 2 weeks)
Keep proper SL of 650.

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GOLD will never loos its lust it seems. GOLD hits record hight of 14,407

Gold prices reached its all-time high on Friday deterring buyers from fresh purchases in the midst of a wedding season, and consumers cashed in on the price rise by selling scrap gold, traders said.

"There is no demand, but there is scrap coming in," said Prithviraj Kothari, director with Riddhisiddhi Bullions in Mumbai.

Gold futures on the continuation chart on the Multi Commodity Exchange touched a high of 14,407 rupees per 10 grams at 2:14 p.m.

The price gap between the local gold and bank gold widened due to lack of demand and profit taking by investors.

Traders said consumers took advantage of near-record prices by selling scrap gold, thereby limiting demand for new bars.

Buyers are awaiting a fall to purchase gold bars, said Kishore Zaveri, director, Zaveri and Co. in Ahmedabad, a retail gold jeweller. - ET

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