POST MARKET UPDATE May 27th 2010

Domestic indices as on 27-05-2010

Close Pts chg
MARKET COMMENTARY
BSE Sensex 16666.40 278.56 Nifty ends strong for 3rd consecutive day, surges 259 pts
S&P CNX NIFTY 5003.10 85.70
CNX NIFTY JUNIOR 10459.75 104.55 The benchmark Nifty closed strong for the third consecutive day on
CNX IT 5713.60 39.20 the back of short covering and positive global cues. The index
BANK NIFTY 9258.45 230.85 rallied 259 points in three days and closed above the 5050 level
CNX 100 4959.80 79.30 while for the week it gained just 134 points. The Sensex closed at
16863, up 196 points and the Nifty was at 5066, up 63 points, as
S&P CNX DEFTY 3665.45 65.05
per provisional data. The benchmark indices strengthened again
S&P CNX 500 4125.75 55.20 after some consolidation with positive bias. Metal and realty rallied
CNX MIDCAP 7549.35 75.10 4% each. Among the others, FMCG, Auto and Power indices
NIFTY MIDCAP 50 2580.65 22.75 gained 1-1.8%. European markets also moved up further and
gained 0.4-0.6% after flat trade since opening. Heavyweights like
Advance/Declines as on 27-05-2010
Reliance Industries, ONGC, NTPC, SBI, TCS, ICICI Bank and
NSE BSE BHEL were quite supportive today.The market breadth was
Advances 0 0 positive; about 2005 shares advanced while 903 shares declined
Declines 0 1669 on the BSE. Nearly 390 shares were unchanged.
Unchanged 49 1128

Gainers as on 27-05-2010 Losers as on 27-05-2010

Stock Close % Change Stock Close % Change
RPOWER 155.40 6.80 A.C.C. 820.00 -1.22
TATAMOTORSEQ 749.95 5.70 POWERGRID 102.00 -1.16
STER EQ 645.05 4.61 IDEA 49.60 -1.10
AXISBANK 1209.00 4.50 SUZLON 58.15 -1.02
SUN PHARMA. 1635.00 4.19 BHARTIARTL 261.45 -0.83

CORPORATE UPDATES

Housing Development & Infrastructure jumped after net profit surged 187.20% to Rs 177.84 crore on
19.50% increase in total income to Rs 464.46 crore in Q4 Mar10 over Q4 Mar09. On a consolidated basis,
net profit declined 27.40% to Rs 566.57 crore on 13.80% decline in total income to Rs 1536.63 crore in
the year ended March 2010 over the year ended March 2009.

ITC hits all-time high as the company may announce bonus issue after a gap of five years. The stock hit
a high of Rs 282.20, which is also its all-time high. It hit a low of Rs 271.80 so far during the day. The
stock had hit a 52-week low of Rs 179.35 on 27 May 09.On a consolidated basis, ITC's net profit 25.4%
on 15.6% increase in net sales to Rs 19135.87 crore in the year ended Mar10 over Mar09.

Sun shines on Sun TV Network after its net profit surged 29.8% to Rs 567.38 crore on 31.69% rise in
total income to Rs 1437.52 crore in the year ended March 2010 over the year ended Mar09. The stock
had hit 52 week high of Rs 453 on 18 May 2010 and a 52-week low of Rs 210 on 13 Jul09.The South
based television broadcaster has an equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Amtek India in top gear as Amtek Auto bought 26.25% stake in the company through block deals on the
Bombay Stock Exchange at an average price of Rs 64.83 a share.Amtek Auto said it has entered into a
deal with promoters of Amtek India to acquire 5.07 crore shares, representing a little over 40% stake in
Amtek India. Today's block deal is a part of that deal.
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 NIFTY WATCH

Source: Spider Software

CONSOLIDATION LIKELY IN MARKETS.

CONSOLIDATION LIKELY BETWEEN 5000 5200.

Majority of stocks could be forming a base building kind of pattern before they try and rally from these levels.
So consolidation is the need of the hour. Big moves on upside cant happen without proper consolidation and
accumulation at relatively lower levels. We can expect the market to consolidate between 5050-5200
The period of consolidation is the difficult period to trade as the bulls and bears would slug it out. Strategy for
short term as wells as medium investors is to accumulate stocks on dips and being stock specific would help.
The short term trend is down but long term trend is bullish. Long tern support seen between 4950- 5000 levels.

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 HOT TECH UPDATE
Hot Tech Update for 28-05-2010
SUPPORT RESISTANCE
STOCKS CLOSE(RS) MODE REVERSALLEVEL
SUPPORT 2 SUPPORT1 RESIST1 RESIST2
Nifty Future 4853.43 4928.27 5004.00 5047.27 5091.43 BUY MODE 4988.21
ACC 792.67 806.33 820.00 836.33 852.67 SELL MODE 855.91
Axis Bank 1117.87 1163.43 1209.00 1238.28 1267.57 SELL MODE 1220.04
Bharti 253.95 257.70 261.45 265.10 268.75 SELL MODE 263.18
BHEL 2214.03 2253.97 2293.90 2335.42 2376.93 SELL MODE 2305.71
Dlf 258.33 265.07 271.80 275.17 278.53 SELL MODE 277.61
GAIL 436.68 445.12 453.55 458.47 463.38 BUY MODE 440.09
HDFC 1770.42 1825.83 1881.25 1921.83 1962.42 BUY MODE 1867.18
HDFC Bk 2622.80 2691.40 2760.00 2809.30 2858.60 BUY MODE 2707.58
Icici Bk 821.33 841.17 861.00 872.92 884.83 BUY MODE 857.99
Infosys 2569.13 2612.07 2655.00 2680.97 2706.93 BUY MODE 2620.17
Jindal Steel 612.30 618.90 625.50 630.40 635.30 SELL MODE 631.93
JP Associate 118.03 121.67 125.30 127.12 128.93 BUY MODE 122.43
Lnt 1590.17 1609.08 1628.00 1642.83 1657.67 BUY MODE 1606.42
Maruti 1167.00 1200.75 1234.50 1258.50 1282.50 BUY MODE 1226.59
NTPC 189.10 193.05 197.00 199.90 202.80 SELL MODE 201.52
ONGC 1035.90 1073.80 1111.70 1144.80 1177.90 BUY MODE 1061.98
Rcom 131.08 134.97 138.85 141.57 144.28 SELL MODE 140.68
Reliance 627.80 634.90 642.00 649.30 656.60 SELL MODE 657.22
Rel Infra 991.85 1008.20 1024.55 1034.30 1044.05 BUY MODE 1017.92
Rel Capital 1007.23 1032.67 1058.10 1074.27 1090.43 BUY MODE 1008.05
SAIL 2121.75 2176.90 2232.05 2267.60 2303.15 SELL MODE 2232.07
Sbi 191.27 195.43 199.60 201.83 204.07 SELL MODE 202.71
Sterlite 607.02 626.03 645.05 659.03 673.02 SELL MODE 659.71
Suzlon 56.58 57.37 58.15 59.02 59.88 SELL MODE 61.26
Tata Motors 1201.40 1222.70 1244.00 1260.15 1276.30 SELL MODE 1278.76
Tata Power 689.25 719.60 749.95 765.15 780.35 BUY MODE 740.81
Tata Steel 465.20 480.70 496.20 504.55 512.90 SELL MODE 515.49
TCS 717.02 729.58 742.15 752.33 762.52 BUY MODE 733.19
Note:
Unitech 66.37 68.98 71.60 73.03 74.47 SELL MODE 71.99
*This table is meant for information of support and resistance. It is valid for the day mentioned.
Wipro
*The 634.98
rates displayed are of NSE spot markets646.67
unless future is 658.35
mentioned in the 667.37
names. 676.38 BUY MODE 650.84

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 RECOMMENDATIONS: STOCK TRENDS

POSITIONAL CALL : BUY IFCI

Source: Spider

POSITIONAL CALL:

BUY AT CURRENT MARKET PRICE OF 52 TGT NEAR 62-74 STOP AT 47

For Private Circulation only 4

 STOCK UPDATE: SHREE RENUKA
Shree Renuka Sugar spurts on buzz Equipav deal
turns sour
Shree Renuka Sugars rose on reports the company's
billion-dollar acquisition of the world's largest sugar
producer is on the verge of collapsing. The stock surged
as concerns of assuming huge debt in the books of the
firm arising from the large acquisition, receded. According
to reports, the talks between Shree Renuka and Brazil's
Equipav Group whereby the former had agreed to buy
51% stake the latter, have fallen through. Reports
suggest that there are two other potential bidders in the
race for acquiring the Brazilian sugar major. US-listed
agro-processing giant Bunge and Hong Kong-based
diversified commodities trading group Noble Group have
initiated talks with the Equipav management for the
majority stake, reports suggest. Meanwhile, Shree
Renuka is reported to have revised its earlier offer for the
controlling stake in Equipav by least a 25%.
Source: Spider Software

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Bhuvnesh Sharma (Research Analyst) : 022 3063 7505
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