Indian Stock Markets may follow global markets

Indian Stock Markets may follow the global counterparts. Markets may start in positive mood due to positive news from global markets. All the global markets are in positive breadth. Crude is at $64 and rupee is steady.

Tip of the Month: As per research, investors generally sell in May and enter into markets in November. Earnings are generally low in May-November period.

Daily Stock picks for Day Traders:

1. Moser Baer – (355.85)

Resistance – 364 and 372
Support – 342 and 328
Moser Baer reporting increase in net profit to Rs 39.72 crore for the last quarter ended March 31. This is against Rs 35 lakh for the corresponding previous period.

2. Apollo Tyres – (315.9).

Resistanace is at – 326.78 and 337.67
Support is at – 298 and 280.

Apollo Tyres Ltd said its board had approved a move to split each of its share into 10. Apollo Tyres reported net profit of Rs 42.71 crore in Q4 versus Rs 26.38 crore in comparable period.

3. Reliance Petro – (80.95)

Resistance – 81.7, 82.4 and 83.4
Support – 80 and 79

4. Suzlon Energy – (1187.5)

Resistance – 1210 and 1233.
Support – 1162 and 1137.

Suzlon Energy bags contact to supply wind turbines of 400 MW capacity to US Based PPM energy.

5. IBP – (441.4)

Resistance – 448.6 and 455.8
Support – 434.6 and 427.8

6. Tata Chemicals – (217.95)

Resiastance – 220.4, 222.98 and 225. 97
Support – 214.9 and 211.9

7. Deccan Aviation – (104)

Resistance – 106.6 and 109.2
Support – 102 and 101.

Company Results:

Following companies will announce results today. Closely follow these stocks today and Day Traders should invest immediately if these companies announce good results. Speed of execution is crucial.

1. Eicher Motors – (270.75)
Resistance – 276, 281 and 287.
Support – 264 and 258.

2. Aditya Birla Nuvo – (1147.45)
Resistance – 1159.9, 1172.35 and 1189.8
Support – 1130 and 1112.

3. IFCI – (44.75)
Resistance– 46.9 and 49.
Support– 41 and 38.

4. Kansai nerolac – (718.75)
Resistance – 733 and 748.
Support – 709 and 700.

5. Orchid Chemicals – (258.4)
Resistance – 266.9 and 275.4
Support – 253 and 247.6

6. HDFC – (1666.35)
Resistance – 1696 and 1722
Support – 1633 and 1600

7. Varun Shipping – (60.4)
Resistance – 66 and 72
Support – 56 and 52

8. United Phosphorous Ltd. – (330.55)
Resistance – 342.9 and 355.3
Support – 320 and 309.6


Positive news for Day Traders:

1. Tech Mahindra was ranked as one of the top 10 leaders in Global outsourcing business.
2. Maruti car sales rose again in April after a dip in March.
3. Hero Honda sales rose in April.
4. Usher Agro net profit jumps 233% for Q3.
5. Tata Sons consolidated its stake in Tata Tea.
6. Steel companies may raise prices.
7. The Union Ministry of Company Affairs has approved the merger of IBP Ltd with IOC.
8. Tata chemicals is in massive expansion plan.

Negative News for Stock Investors:

1. Stay away from Gayatri projects due to its poor results.
2. Tata Motors commercial vehicle sales fell in April but total sales rose around 11%.
3. TVS Motors sales down in April.
4. I-Flex technologies results are not impressive.