Derivatives view & havells ----6 dec 2012

Nifty futures opened positive and traded in a narrow range of 30 points throughout the session, and finally closed up by 0.44% at 5949.

Overall breadth was positive as there were 102 advances vs. 56 declines in F&O segment.
Further bullish movement can be seen in market. Supports for nifty futures lies at 5920 and 5865.
Among other major sectoral indices, Banknifty future closed with gains of 0.86% while CNX IT futures have closed with loss of 1.28%.

Among Nifty heavy weight stocks Infy has witnessed short build-up in trade today.
Put Call Ratio ( Volume ) is at 0.72.

Technology sector closed in red, short build up is witnessed in sector stocks like Finantech, Hcltech, Infy, Mphasis, Techm and Wipro.

FII F&O Trade Statistics (in Rs cr.) for 4-Dec-2012
Index Futures       Stock Futures    Index Options    Stock Options
-309                           -151                -497                    -74



HAVELLS : The stock seems to have given breakout after consolidation. Buy December future is recommended in range 596-598 for target of 632 and stop loss of 585

Market Commentary--------6 dec 2012

Market Commentary

Crude oil falls on rising U.S gasoline inventories.
Crude is hovering near one week low as the U.S gasoline inventories have increased which has increased the pressure on crude oil prices. U.S gasoline inventories are hovering near eleven years high levels which have increased the pressure on fuel markets. Energy Department said gasoline stockpiles rose 7.86 million barrels last week, the most since Sept. 21, 2001. However U.S crude oil inventories are on lower side which is the only bullish factor for red metal prices. Crude for January delivery was at $87.73 a barrel, down 15 cents, in electronic trading on the New York Mercantile Exchange. Prices fell 62 cents yesterday to close at $87.88 a barrel, the lowest since Nov. 28. Futures have dropped 11 percent this year. Brent oil for January settlement on the London-based ICE Futures Europe exchange was at $108.73 a barrel, down 8 cents, after sliding $1.03 yesterday. The European benchmark crude was at a premium of $21 to New York-traded WTI. It closed at $20.93 yesterday, the narrowest gap since Nov. 2.


Gold falls on strengthening dollar.
Gold is trading near one month low as the demand of the safe haven assets have started receding due to strengthening U.S dollar. Gold twelve year bull phase is expected to end as the major markets players are predicting so which might be a bear phase initiation in gold. However gold ETF investment is still near record high levels which are the only bullish factor for gold prices. Holdings in ETPs climbed to 2,627.59 metric tons yesterday. Spot gold was at $1,692.70 after falling to $1,684.93 yesterday, the least expensive since Nov. 6. Gold for December delivery gained as much as 0.2 percent to $1,697.80 an ounce on the Comex in New York, before trading at $1,696.30. The contract slipped to $1,686 yesterday, also the lowest level since Nov. 6. Cash silver fell for a third day, losing 0.2 percent to $32.8038 an ounce.



Copper is steady on U.S budget approval talks.
Copper is maintaining it weekly high levels as the U.S budget talks may be the crucial factor for copper’s either side movement. U.S fiscal cliff talks are another major event for the industrial metal demand which might decide the fate of the red metal prices. However Chinese demand is still high which might support the demand of the red metal in near future. Three-month copper on the London Metal Exchange was little changed at $8,027 a tonne, after rising to a six-week high of $8,068 in the previous session. The most-traded March copper contract on the Shanghai Futures Exchange inched up 0.3 percent to 57,520 yuan ($9,200) a tonne.

Currency Headlines------6 dec 2012

Currency Headlines

Pound recovers on U.S economic uncertainty.
Pound is hovering in bullish territory as the U.S economic uncertainty has given support to the demand of GBP for hedging purpose. U.S fiscal cliff and uncertainty on budget approval has increased the pressure on US dollar. The BCC lowered its 2013 growth forecast to 1 percent from 1.2 percent in September and its 2014 projection to 1.8 percent from 2.2 percent, the London-based group said in a report. The pound rose 0.2 percent to $1.6117 after advancing to $1.6130, the strongest since Nov. 2. Sterling was little changed at 81.10 pence per euro. It depreciated to 81.33 pence on Nov. 30, the weakest level since Oct. 24.


Euro steady on EU optimism on Greece Economy.
Euro is still maintaining its recent high as the European Union finance ministers have confidence on Greece economy as it will pull off a successful bond buyback which has given support to their economy. Greece began the 10 billion-euro ($13 billion) repurchase of bonds maturing from 2023 to 2042, offering a higher-than-planned price in order to increase demand for the debt-reduction measure. The euro fetched $1.3056 from $1.3054 yesterday, when it touched $1.3076, the most since Oct. 23. The shared currency was little changed at 107.30 yen from yesterday, having risen 1 percent in the past three sessions. The U.S. currency slid 0.1 percent to 82.19 yen. The so-called Aussie traded at $1.0425 from $1.0421, after having fallen 0.5 percent in the past three days.

currency update--6 dec 2012

TECHNICAL INSIGHT USD INR (DEC – Expiry)

US dollar looking weak on charts, hence selling is recommended.
Sell below 54.7100 with a SL 54.8100 possible targets of
54.6000/54.4500/54.3000.

EUR INR (DEC – Expiry)
Euro is technically weak, hence selling is recommended.
Sell below 71.5700 with a SL of 71.6700 for possible targets of 71.4500/71.3000/71.2075.

JPY INR (DEC – Expiry)
Yen looking strong on charts, hence buying is recommended.
Buy above 66.6000 with SL of 66.5000 with possible targets of 66.7000/66.8000/67.9075

. GBP INR (DEC – Expiry)
Pound is looking strong hence buying is recommended.
Buy above 88.2025 with a SL of 88.1000 targets would be 88.3575/88.4500/88.5700.

state bank of india with chart---4th dec 2012

hdil & ktk bank update---4 dec 2012

hdil made high 117.20 and ktk bank made high 190 book full profit

bajaj auto -chart 4 dec 2012

bajaj auto with charts------4 dec 2012

HDIL& KTK BANK-------->29 NOV 2012

BUY HDIL @ 112 TARGET 116/118/121/125 FOR 4-5 DAYS DELIVERY BASE CALL

BUY KTK BANK @168 TARGET 172/177/180 4-6 DAYS DELIVERY BASE CALL

nifty chart update 29 nov 2012