Stock market guide for Indian investors – April 16, 2007-04-13

Today is another wonderful day for Indian stock Market investors especially for day traders.
Stock Market movement: Markets will move upwards and may gain around 250-300 points.
Resistance – 13,580 and 13,640

Most positive news: Inflation is moving downwards and RBI may not raise interest rates.

Global Cues: US markets moved upwards on Friday. Asian markets are on recovery mode.

Negative News for IT stocks: The Indian rupee closed at its strongest level against the dollar in eight years.

Investment Strategy for Day Traders:

Pick good small/mid cap stocks (Based on results) - They will give maximum profits in these highly volatile times.

TCS, Teledata and Aventis Pharma will announce results today. Tata Consultancy Services (TCS) has reportedly clinched a 100 million dollar deal spread over five years from Bank of China.

Stocks for Indian Stock Market Day Traders:

Kavveri Telecom announced superb Q4 results.

Canara Bank may acquire Dena Bank.

Work at two-wheeler manufacturer LML's unit here will restart from tomorrow.

SAIL: The government has allotted a coking coal block to Steel Authority of India Ltd.

CMC announced 80% dividend. It is a must buy stock for day traders.

Gujarat NRE Coke Ltd (GNCL) will be setting up three power plants.
The company signed an agreement with Sailcon, a division of Steel Authority of India Ltd (SAIL), for the setting of the power plants.

Essar is to buy Canadian Steelmaker Algoma in an all cash deal worth C$1.85bn.

ITC Ltd, the country's biggest cigarette maker, plans to invest about Rs 15,000 crore in the next 5-7 years. ITC share may gain around 2-3 rupees.

Apollo Tyres rolled out dura tyre.

Rakesh Jhunjhunwala and persons acting in concert with him have bought 50,000 shares of Titan Industries on April 12 via market purchase.

Voltas announced that it has clocked a growth of over 30% in sales of its room air conditioner business.

Triton Corp has reported 19.16% increase in respect of net profit amounted to Rs 3.98 crore in the quarter ended March 2007 as against Rs 3.34 crore during the quarter ended March 2006.

Educomp Solutions Company is into overseas foray.

Infrastructure major Hindustan Construction Company Ltd (HCC) plans to enter the real estate business with an initial investment of Rs 1,000 crore.

Closely watch Sterilite and Hindalco.

Surprising Stocks:

Hero Honda, Aventis Pharma and Dr Reddys- may gain after some battering in the last 2-3 days.

Avoid these stocks:

National Pharmaceutical Pricing Authority (NPPA) has asked Cipla, the second biggest domestic drug maker, to pay Rs 748.27 crore as fine towards overcharging of controlled drugs.
RBI stopped FII buying in India Bulls Real estate.
Abbot Ltd sued Ranbaxy.
Stay away from sugar stocks due to rise in production and drop in sugar rates at New York commodity exchange.
Sesa Goa receives show cause notice from Jharkhand Government.