SHREE GANESHAY NAMAAH !

2012 should be much better than 2011

Market can still tank 10-15% more, says IIFL's Nirmal Jain

After partying all weekend, investors would not have complained about the slow-paced opening to trading on Monday. Lack of global cues and thin FII participation kept indices on a tight leash. The Niftyended trade 12 points up, while Sensex gains 79 points to close at 15,517.

But the main problem is the lack of positive triggers for the market.  At this point in time, Nirmal Jain, chairman of IIFL believes, there is possibility of 10-15% downside.

Volumes jump at Bajaj Auto counter

Kotak Mahindra Bank, Hindustan Copper, MMTC and IFCI are among the otherstocks to see a surge in volumes on BSE today, 2 January 2012.

Bajaj Auto clocked volume of 1.90 lakh shares by 13:21 IST on BSE, a 6.22-times surge over two-week average daily volume of 31,000 shares. The stock lost 7.96% to Rs 1,466.

Kotak Mahindra Bank notched up volume of 1.86 lakh shares, a 2.65-fold surge over two-week average daily volume of 70,000 shares. The stock lost 2.29% to Rs 422.35.

Hindustan Copper clocked volume of 4.07 lakh shares, a 2.64-fold surge over two-week average daily volume of 1.54 lakh shares. The stock lost 0.3% to Rs 185.70.

MMTC clocked volume of 1.01 lakh shares, a 2.52-fold surge over two-week average dailyvolume of 40,000 shares. The stock lost 3.35% to Rs 519.90.

IFCI clocked volume of 89.86 lakh shares, a 1.98-fold surge over two-week average dailyvolume of 45.49 lakh shares. The stock lost 0.92% to Rs 21.65.

Stocks To Watch :

POSITIONAL CALL CAN BUY WIPRO JAN MONTH OR IN CASH ! 398--403, WITH SL OF 388, TGT 408 / 415 / 422 / 429 IN 10 TRADING SESSION !

POSITIONAL CALL SELL HINDUNILEVER FNO JAN @ 412--415, CLOSING SL OF 425, TGT 405 / 400 / 395 / 388 IN 7 TRADING SESSION ! HIT 1ST TGT MADE LOW OF 403.95 !

Nifty Future Chart :



Monthly (2011) : 
Open : 4978.45
High : 5134.65
Low : 4538.00
Close: 4667.40
Avg. : 4829.63

NIFTY FUTURE 

R5 : 4760
R4 : 4736
R3 : 4718
R2 : 4695
R1 : 4668

CMP: 4648.10

S1 : 4632
S2 : 4620
S3 : 4602
S4 : 4578
S5 : 4532

Market Updates : 

JSW Steel leads gainers in 'A' group

National Aluminium Company, Coal India, Sintex Industries and Jain IrrigationSystems are among the other gainers

JSW Steel surged 5.90% to Rs 537 on optimism that iron ore will be more easily available to the company after government raised export duty on the steel-making raw material to 30% from 20% effective 30 December 2011. Following the export duty hike, iron-ore producers are now likely to prefer domestic customers rather then exporting, due to higher taxes. The stock topped the gainers in the BSE's 'A' group.

National Aluminium Company jumped 4.44% to Rs 52.90 and was second biggest gainer in 'A' group. The stock rose on high volume of 94,000 shares as against an average dailyvolume of 28,000 shares in the past two weeks. The stock had underperformed the market over the past one month till 30 December 2011, falling 4.16% compared with the Sensex's 4.15% fall. The scrip also underperformed the market in past one quarter, sliding 17.84% as against 6.07% decline in the Sensex.

Coal India advanced 3.61% to Rs 311.70 on reports the company is likely to set up a subsidiary for buying coal assets in South Africa, as part of efforts to boost its output.. The stock was third biggest gainer in 'A' group.

Meanwhile, Coal India during market hours today, 2 January 2012 said its board of directors in its meeting held on 30 December 2011, approved switching over of non-coking coal pricing from useful heat value (UHV) based grading system to gross caloric value (GCV) based classification with effect from 1 January 2012. It is difficult to assess the exact impact as it will be based on the calorie value, Coal India said.

Sintex Industries gained 3.58% to Rs 65.15. The stock was fourth biggest gainer in 'A' group. The stock had underperformed the market over the past one month till 30 December 2011, falling 33.05% compared with the Sensex's 4.15% fall. The scrip also underperformed the market in past one quarter, sliding 50.65% as against 6.07% declinein the Sensex.

Jain Irrigation Systems rose 3.57% to Rs 89.90, on bargain hunting, halting two-day 7.56%decline. The stock was fifth biggest gainer in 'A' group.

Note : Data From Capital Market And Money Control !

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