F&O Market Expire Suggestion
As the November F&O expiry nears more volatile movements can be expected on Nifty. Counters like ACC and Gujurat Ambuja may witness more selling pressure, because these two stocks open interest has increased in the near month, indicative of fresh shorts. ACC has last support at Rs 998 and Gujrat Ambuja at Rs 141. Movements below these levels can cause more pressure on these stocks. The moving average combination of 9, 50,100 have given a sell signal which can bring down the Nifty towards 5,755 in the short term. The resistance for the Nifty will be at 5,944 and 5,971.
The market is now in a correction phase. The long term trend remains up. Nifty likely to face resistance around 6,000, if rallies. The market is likely to remain volatile in view of expiry of derivatives due on 25th November.
Stocks Suggestion
Bharati Shipyard
Shares of the company gained Rs 9.5, or 4.15%, to settle at Rs 238.55. It touched a high of Rs 249.70 and a low of Rs 227.50. The company plans to acquire 51% stake in South India-based Tebma Shipyards for Rs 757.5 million.
Axis ,UBI, BOB Bank
We recommend a Buy on Axis Bank, Union Bank of India and Bank of Baroda. Higher than expected slippages and increased provisioning for pension liabilities remain the key risks to our earning estimates
Sebi committee suggests tougher rules for new bourses
A Sebi committee on Tuesday recommended that only banks and public financial institutions could be anchor investors in bourses and restrict them from listing or making huge profits. The move could make it difficult for corporate entities to set up stock exchanges.
According to industry sources, the recommendations would make things difficult for FTIL group-founded new bourse MCX-SX, which is allowed to trade only in currency futures, and its plea for trading in equity and other segments has already been rejected by Sebi on non-compliance with shareholding and other norms.
In the report posted for public comments on Sebi website today, the committee suggested a minimum net worth of Rs. 100 crore for the stock exchanges and allowing only banks and public financial institutions as the anchor or main investors.
Stocks tips For tomorrow
Bharti Airtel Ltd. Opt:PA 340.00
Tgt- 13,15
For 3 Days
Unitech Ltd. - Buy ( 2 months )
At - 68.05
Tgt - 78.20,82.05
