iCharts Discussions

[girishhu1]

hellow sid,
from what i understand from the file, a buy lr signal is given when the stock is giving a fresh buy signal. in the file, infosys and gail are given as buylr signal whereas both have made lower low and lower high on daily charts.i think it can be b holdmr or else? kindly confirm. also what is the difference in sell, sell lr etc?
regards,
girish

[SID2060]

[SID2060]

The stock mkt declined further last week, with the Sensex finishing 2.29% or 458.04 points lower, and the Nifty 2.26% down. The CNX Midcap Index lost 5.55%. Wipro was the biggest winner among index stocks with a 5.1% gaThe other index stocks to go up included NTPC, BHEL, Jindal Steel & Power and Reliance Industries with gains between 3.9% and 1.7%. State Bank was the biggest loser among index stocks with a 10.9% loss. The other index stocks to go down included Reliance Communications , DLF, HDFC Bank and Reliance Infrastructure with losses falling between 9.6% and 6.7%. ACC was the biggest winner among the more heavily traded non-index stocks with a 9.7% gain. The other nonindex stocks to go up included Core Projects, Ispat Industries , Cairn India , HCL Technologies , Gail India, BPCL and Sun Pharmaceutical with gains between 9.7% and 0.5%.

Karuturi Global was the biggest loser among the more heavily traded non-index stocks with a 33.4% loss. The other nonindex stocks to go down included UFlex, Hanung Toys & Textiles, Gitanjali Gems, Gravita India, Ruchi Soya Industries , Manappuram General Finance & Leasing and UCO Bank with losses falling between 32.4% and 17.5%.

INTERMEDIATE TREND : The intermediate downtrend that started on November 5 when the Sensex peaked at 21,109 is still on. The Sensex will now have to cross 20,225 to enter an intermediate uptrend. The equivalent for the Nifty is 6,075, and that for the CNX Midcap is 9,275. Most global indices are in well defined uptrends, with the Indian market having underperformed all significant markets with the exception of Shanghai since Diwali. Our market has clearly not benefited from the global uptrend. The selling pressure here could get worse if a global downtrend were to develop now.

LONG-TERM TREND : The market’s long-term trend is still being assumed to be up, but is facing an uphill struggle now. Over half of the most heavily traded stocks were at multimonth lows and below their 200-day moving averages after Thursday’s crash. The level below which a bear market would be signalled for the Sensex is best taken to be 17,300. A fall below its 200-day moving average (18,364 on Friday) would be an alternate bear market warning signal. Most global markets appear to be in bull phases, but are also seen as being in a larger sideways range.

TRADING & INVESTING STRATEGIES : The current intermediate downtrend is five weeks old, and a small increase in portfolio exposure could be taken now. However, over half of the heavily traded stocks are in longer-term downtrends, and resilient stocks should be picked. One benchmark would be to go for stocks which have lost less than 10% since Diwali. Only 30% of the 250 most heavily traded stocks have managed to do so.

GLOBAL PERSPECTIVE : Almost all the global indices are currently in intermediate downtrends, and a global uptrend is on. Shanghai and our market are the notable exceptions. The Dow would have to fall below 10,900 to enter a downtrend. Most global markets also appear to be in longer-term uptrends, or perhaps in a multi-year sideways range. The Dow would go into a bear market if it goes under 9,900. The Sensex gained 11.9% in the twelve months that ended on Thursday, down five positions to the 19th place among 35 well-known global indices considered for the study. Sri Lanka continues to head the list with a 110.7% gain. Argentina, Indonesia, Chile and Turkey follow. The Dow Jones Industrial Average has gained 9.3% and the NASDAQ Composite has gained 19.4% over the same period

[SID2060]

Attaching below the latest report as on 13th dec, 2010 with added new features like profit/loss calculator and other features for which u have to download it ABSOLUTELYYYYY FREEEEEEEEE!!!!!!!!!!!



SID

[as4manju]

Hey good work sid

[SID2060]

[as4manju]

FB Look for manjunath jain

[SID2060]

[as4manju]

Hey i ve added..

[SID2060]

TECHNICAL REPORT AS ON 20-12-2010

[SID2060]

Morning news:

A rating agency ups indias GDP growth frm 8.5 to 8.7

Jsw steel is all set to buy a controlling stake in Ispat inds.

IGATE is interested to bid for Patni computer stake. The co says they may consider bid frm IT field.

[SID2060]

JSW set to be biggest steelmaker

What began as an one-off co-promotion deal when ArcelorMittal acquired a substantial stake in Uttam Galva in September 2009, is set to become the norm in the Indian steel industry with JSW Steel buying a majority stake in Ispat Industries.

The two deals—within a span of 15 months —have opened a new chapter in the steel industry where acquiring capacities to grow, rather than growing organically, is becoming a trend.

Along with Ispat’s 3.3 million tonne capacity, JSW’s combined capacity of 11 million tonne is already ahead of the domestic capacities of private sector players like Tata Steel (7 million tonne) and Essar Steel (8 million tonne)—making it the clear No. 1 in the private sector.

But it is set to go a step further now. With more expansions lined up, JSW’s combined capacity is set to become 14.3 million tonne by March 2011, thus overtaking public sector major SAIL (13.5 million tonne).

So by March next year, JSW (plus Ispat) would become the largest steel player overall and would retain this tag, at least, till November 2011, by which time SAIL would have added 2 million tonne to its total capacity. So this game of oneupmanship in the steel industry pecking order is expected to continue for the next couple of years at least between JSW and SAIL.

As Sajjan Jindal,vice-chairman and managing director, JSW Steel, said: “It is very hard to set up greenfield capacities...it’s like building a universe.”

By acquiring a substantial stake in Ispat, JSW has got ready capacity to operate. Tata Steel and ArcelorMittal would have got the same advantage had their talks with Ispat materialized.

“It is a wake-up call for the entire industry. Smart money knows the value of steel capacity in India. Jindal is a second-generation entrepreneur. He knows the difficulties in getting land, resources and the required infrastructure to set up a steel unit,” said Ankit Miglani, managing director, Uttam Galva, which entered into a co-promotion agreement with ArcelorMittal, giving the latter a direct entry into the Indian steel market.

“This is a new trend of companies cooperating for the greater good of organizations. It consolidates the steel industry and results in less competition,” said Miglani, who considers Jindal as a “guide and mentor” to younger entrepreneurs. And why not? It was Jindal, who first set up a corex unit in the country (second such plant in the world), a cutting edge technology to manufacture steel.

Said Arvind Pandey, partner & director, Boston Consulting Group, “Ambitious expansion programmes of the Indian steel industry have been stymied over the last five years with growth rate of barely 6% per annum to become approximately 70 million tonne because of issues pertaining to land acquisition, raw material linkages, environmental permissions, etc.” On the other hand, China has gained self-sufficiency with its domestic steel production capacity growing at nearly 12% per annum to become approximately 680 million tonne. This also improved its cost position during this period.

“It is imperative for upcoming steel capacities in India to be cost-competitive on the regional cost curves by leveraging innovation and adapting flexible practices since iron ore, coal and power costs significantly impact the overall position on the cost curve,” said Pandey.

Tata Steel, which owns its own captive mines, is the lowest cost producer of steel. Although it is difficult to arrive at a figure, industry analysts peg Tata Steel’s cost of production at around $450 per tonne. As compared to this, companies which are not well integrated, such as JSW Steel and Ispat, have a cost of production of around $550-$580 per tonne, said analysts. These figures could, however, not be independently verified from the companies.

Thus backward linkages to raw materials and captive power generation capabilities are a must for future capacities that are being added. Indian companies are already on the lookout for metallurgical coal, iron ore, manganese, chromium and other raw materials for steel-making outside India and ensuring a competitive cost structure.

The Indian steel industry is expected to grow to 200 million tonne by 2020, which means that infrastructure would treble to sustain such capacity. It’s thus not surprising that almost all large players were keen on striking a deal with Ispat. Given the rising demand for steel and the need for companies to remain efficient, many more opportunities are expected to be thrown up in the future as well. Industry watchers can only conjecture which one would be the next to press the consolidation button. Co-promotion seems to be the operative word here.