EUR/USD is likely to be bearish, hourly chart clearly confirms the bearish pattern formed here. The pair again failed to break 1.4010 levels, so we see bears strong at current levels. Our view: SHORT POSITION BELOW 1.3901 FOR TARGET 1.3860 . STOP LOSS MUST BE PLACED AT 1.3929 OR GO LONG IF PAIR APPROCHES THE STOPLOSS FOR TARGET 1.3985 ... [Continue Reading]
BUY NIFTY FOR TARGET 6300 LEVELS THIS MONTH
A significant rally of 600 points was seen in Nifty last month which was overruled by profit booking in last 6 trading session. We have been bullish since 5600 levels, also a strong support in nifty is formed around 5911 i.e 50 days EMA. A jump is expected on these broader indices; as we look at the daily charts, Nifty has already formed a strong support around 6000 levels. Our Preference for ... [Continue Reading]
Power Grid Q2 Results Declared, Profit Surged 41.52%
Power Grid Corporation Ltd. has announced its second quarter result (ending September 2010). It has reported net profit of Rs.651 crore against Rs.460 crore last quarter, a strong growth of 41.52% was seen on yearly basis (Year on year). Its total revenue boosted 25.04% to Rs.2,127 crore from Rs.1,701 crore (YoY). Also its average yearly earnings per share (EPS) was found to be Rs.5.22 per share, ... [Continue Reading]
23 New Scrips to be Added in NSE F&O
The National Stock Exchange (NSE) is going to introduce 23 new scrips in F&O segment from October 29, 2010(Friday). 23 new scrips are 3i Infotech, Alok Industries, Bajaj Holdings, Bata, Bombay Dyeing, Central Bank, DCB, Escorts, Havells, HOEC, IGL, IndusInd Bank, IRB Infra, Jet Airways, Karnataka Bank, Max India, MRF, Oil India, S Kumars, SREI Infra, Sterlite Tech, Tata Motors DVR and TVS ... [Continue Reading]
L&T NET PROFIT JUMPED 31%, ON STRONG EARNINGS
India's largest publicly held company, L&T has declared its Q2 (second quarter) results today. The company seen strong growth with Q2 net profit jumping 31% at Rs.765 crore vs Rs.580 crore. Also, its net sales were at Rs 9,261 crore versus Rs 7,918.8 crore last quarter. Its income from other sources (Satyam stake sale) was also up at Rs 382 crore versus Rs 212 crore earlier. Company's ... [Continue Reading]