Intraday Tips and Market Outlook for 24th Aug.

State of markets abroad :
US markets ended higher.
Europe ended higher.
Asia has opened higher.
Expect the Indian Markets to open higher.

NIFTY Technicals
NIFTY Spot : 4528.8
Support : 4440.2 & 4351.65
Resistance : 4578 & 4627.25

Day Trading Ideas :

Yes Bank : Buy above 174 for targets of 176 and 178. SL of 172

GVK Power&Infra : Buy above 48 for targets of 49.15 and 50.10. SL of 46.90

LNT : Buy above 1495 for targets of 1505 and 1520. SL of 1488

Happy Investing !
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Intraday Tips and Market outlook for 24th of April.

US markets ended flat after a volatile section.
Europe ended flat to negative.
Asia is trading flat.
Expect Indian Markets to open flat to negative.
The support for the Sensex is 10700 and the resistance to the up move is at 11255-11639
Nifty: (3424) the support for the Nifty is at 3303 and the resistance to the up move is at 3451-3734

Day Trading Ideas -

Ashok Leyland
Buy above 23.10 for targets of 24.25 and 25.10
Sell below 20.20 for targets of 19.50 and 18.90

Wipro
Buy above 316 for targets of 320 and 324
Sell below 305 for targets of 301 and 295

LNT
Buy above 872 for targets of 876 and 881
Sell below 861 for targets of 855 and 851

Yes Bank
Buy above 75.10 for targets of 77.25 and 79.25
Sell below 70.10 for targets of 68.25 and 66.50

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Mutual Funds to eye large cap stocks.

A Reuters poll says that mainly large caps stocks are a attraction of domestic Mutul Funds Companies.

Indian large caps and financial sector stocks are likely to attract them for next 3-4 months as they hope for stock market rebound.

Three-fourths of the respondents in the Reuters Asset Allocation Poll conducted between Nov. 21 and 25 said they would cut the amount of cash they hold because they expect local stocks will rise during the period. 

Three of the eight fund houses polled said Indian shares are fairly valued, while an equal number said they were undervalued. 

A fourth of bond fund managers are likely to cut cash levels as invest in bonds on hopes of more rate cuts, the poll showed.

Reading this I would eye on Banking and Financail stocks. The stocks which I would shop are SBI , Yes Bank , HDFC Bank , ICICI Bank and Indusind Bank.

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Deutsche Bank puts 'hold' on Yes Bank

Yes Bank 

RESEARCH: Deutsche Bank 

RATING: Hold 

CMP: RS 61 

Deutsche Bank believes that Yes Bank’s recent severe underperformance relative to the market and the banking index has factored in most of the concerns about its asset quality, margins and fee income growth and has upgraded the stock to ‘hold’0. 

However, it has reduced the target price to Rs 55 and cut earnings by 11-17 % for FY09-11 . The major concerns are: asset quality due to large exposure to mid-corporate group and commercial real estate; margins due to weak funding franchise; and a sharp slowdown in non-interest income growth due to relatively high dependence on capital market-linked activities. 

The target price of Rs 55 is based on a single-stage Gordon growth model with a price-to-book value (P/BV) of 1.0x, arrived by using a blended return on equity (RoE) of 15.5%. The key upside risk to Deutsche Bank’s hypothesis is a sharp recovery in loan growth accompanied by a rise in margins. 

The key downside risks are higher-than-expected deterioration in asset quality and stagnation of branch network due to unavailability of branch licenses , which can pose a challenge for Yes Bank. - ET

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