ANALYSIS FOR 13-3-2014

  Market Review for 13th March 2014     

Nifty (6517)  we said ‘technically the trend is still intact and has not been compromised…we could see some reactions though and the strong support exits at 6415…we are fine as long as 6415 holds’ the market unfolded flat and closed flat…analysis remains the same…

TROUBLE FOR COALINDIA LIMITED

The executives of Coal India are going ahead with the proposed three-day strike from March 13, following the management’s inability to offer any assurance on the demand for a wage hike.

V.P. Singh, president of the Coal Mines Officers’ Association of India, said the executives had met Coal India chairman today to present their case before going on a strike. “There was no concrete assurance from the management today. So we are going forward with the strike,” 

Besides disrupting production, the strike will delay a board meeting scheduled on March 13 on the public-private partnership model in mining.

Meanwhile, the Centre is likely to deliberate on the delayed implementation of performance-related payment of wages to over 20,000 executives of Coal India on March 14.

A committee of secretaries comprising the cabinet secretary and secretaries from departments such as coal, public enterprises and legal affairs along with the Coal India management will meet on March 14 in Delhi.

According to CIL executives, in a meeting in February, the committee had proposed the creation of a corpus by Coal India comprising the pending performance-related payment from 2007-08. A final decision on this could be taken in the next meeting. The proposal, if accepted, could see the PSU miner shelling out about Rs 200 crore annually.

MARKETS FOR 12-3-2014

  Market Review for 12th March 2014     

Nifty (6512)  the market   has seen high at 6562 recently and the stretched nature of the market has made it to pause and closed flat for the day…technically the trend is still intact and has not been compromised…we could see some reactions though and the strong support exits at 6415…we are fine as long as 6415 holds…

The support for Nifty is it 6415 and the resistance to the up move at 6600

WHY TRADERS FAIL ?

1. They have inadequate capitalization.
2. They are using someone else’s system.
3. They lack knowledge of the system’s performance.
4. They are unable to sit through flat periods or drawdowns.
5. They are unable to handle stress.
6. They lack commitment.
7. They experience drawbacks that are greater than their hypothetical testing.
8. They override the system’s signals.
9. Their ego prevails.
10. Their system is overoptimistic; they make additional rules to take out losing trades.
11. They lack parameters for spike performance in markets.
12. They lack diversification between systems and/or markets.

TIPS FOR 10-3-2014

CASH PICK OF THE DAY	T1	T2	SL
BUY SRF AT 279	290	298	275
FO PICK OF THE DAY	T1	T2	SL
BUY YES BANK FUT AT 374	382	388	370

BE CAUTIOUS ON MONDAY 10-3-2014

 

Last Close :6555

SGX Traders ,Just watch…………Above level very Carefully

If crosses and stays above then will update more ……………..

Short Term Traders ………If not crosses High of  ( 6566 ) and trades below 6543 level with volumes and sustains for 20 minutes or more then ?

Nonstop slide upto 6472——————–6449 level in hrs only.

(Minor Support at 6486 level )

Indicating to have Cautious Approach at these levels…………….!

Highly Overbought in Daily & Weekly chart and trading above Band

RANBAXY RECALLS 64000 BOTTLES OF LIPITOR

Indian drug maker Ranbaxy Laboratories Ltd has recalled more than 64,000 bottles of the generic versions of its cholesterol-lowering drug in the United States due to reports of a dose mix-up, U.S. regulators said.

Ranbaxy recalled tablets of atorvastatin calcium, the generic name for Lipitor’s active ingredient, after a pharmacist found a 20-milligram tablet in a sealed bottle marked for 10-milligram tablets, the U.S. Food and Drug Administration (FDA) said on its website.

The FDA declared a Class II recall, which signifies a remote chance of severe adverse consequences or death due to the product flaw.

Ranbaxy could not be reached for comment outside of India’s business hours.

This is at least the third recall of generic Lipitor over the past two years.

Hit by regulatory scrutiny, India’s biggest drug maker by revenue had recalled 480,000 bottles of the cholesterol fighter in November 2012 after the company discovered contamination with tiny glass particles.

Worries about quality control in India’s $14 billion drug industry have come to the fore in the past year as plants run by Ranbaxy and local rival Wockhardt Ltd have been barred from sending drugs to the United States after falling short of the FDA’s “good manufacturing practices”.