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Market outlook 22-11-2010

US Markets closed flat.
Europe markets ended lower.
Asian markets are trading in red.
Expect Indian Markets to open negative.
Nifty: (6010) Support 5840 and Resistance 6058.

INTRADAY BEEPS

BUY ELECTHERM TARGET 320 SL 308;
BUY HIMATSEIDE TARGET 65 SL 60;
BUY BHARTI AIRTEL TARGET 344 SL 332;
BUY UCO BANK TARGET 155 SL 148;
BUY HIND COPPER TARGET 365 SL 348;
BUY EXIDE TARGET 173 SL 165;
BUY FORTIS TARGET 156 SL 150;
BUY NELCO TARGET 138 SL 130;
BUY KOUTONS TARGET 90 SL 84;
BUY TATA STEEL TARGET 635 SL 610;


STOCK BEEPS

-Govt approves ONGC's stock split into two, to offer 5% stake next year
-Bharati Shipyard to acquire 51% in Tebma Shipyard (unlisted) for Rs 75.75 crore
-Ramky to complete 2,350 acre land sale at pharma city next year
-Suryajyoti Spinning Mills to get into garment production, may raise funds via QIP
-Securities in F&O Ban: Aban, Core Projects, KFA, Ispat, Power Grid
-Clearwater Cap acquires 5.03 lakh shares in Dolphin Offshore via conversion of FCCB, holding has crossed 10%
-Burnpur Cement board approves allotment of 2 crore convertible warrants to part finance the ongoing setting up of cement plant at Patrata, Jharkhand
-Dhanus Tech board approves fund raising of USD 30 million via FCCB,GDR, ADR, QIP issue
-Camlin Fine board approves acquisition of an Italian fine chemicals company
-Suryachakra Power to receive Rs 22.5 crore from Andanman and Nicobar admin due to revision in project costs, approves scheme of amalgamation of Suryachakara Energy and Infra - swap ratio 15:28,promoter holding post merger to go up ffrom 51.94% to 67.15%
-Religare arm acquires UK operations Of South African Co Bernard Jacobs
-Bill Gammell to meet govt officials on November 23 to push for Govt of India nod for Cairn Deal.



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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.
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