Stock Market Forecast for 5th March 09

Market may open up. Market may up between 10.00 and 10.31 Market may steady or up side between 13.01 and 13.24. Market may close at up or near to previous closing.


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Opening Bell Call
Buy

CIPLA - Cipla Ltd
IDEA - Idea Cellular Limited
ONGC - Oil & Natural Gas Corpn Ltd
TATAPOWER - Tata Power Co. Ltd.
BALRAMCHIN - Balrampur Chini Mills Ltd

On 4th March 2009 - The BSE Sensex closed at 8,446 (Up 19 points) while the NSE Nifty closed at 2,645 (Up 22 points).

Opening Bell Call
Sell

AXISBANK - Axis Bank Limited
BANKINDIA - Bank of India
ABIRLANUVO - Aditya Birla Nuvo Limited
HDFC - Housing Development Finance Corporation Ltd.
IDBI - IDBI Bank Limited

Technical Analysis for 5th March 09

BSE-SENSEX - Major Support - 8440, 8474, 8507, 8538, 8568, 8602, 8635, 8669
BSE-SENSEX - Major Resistance - 8410, 8379, 8346, 8312, 8282, 8251, 8221, 8190

NSE-NIFTY - Major Support - 2637, 2650, 2663, 2672, 2681, 2694, 2707, 2720
NSE-NIFTY - Major Resistance - 2628, 2619, 2606, 2593, 2584, 2575, 2566, 2557

RELIANCE-RPL merger: Swap ratio fixed at 1:16

Mukesh Ambani-controlled Reliance Industries Limited (RIL) and Reliance Petroleum Limited (RPL) have been merged into one entity. According to a release issued by Reliance to the BSE, the company's board approved a Scheme of Amalgamation("the Scheme") of Reliance Petroleum Ltd (RPL) (the "Transferor Company") with the company under the provisions of Sections 391 to 394 of the Companies Act, 1956.

The merger ratio is slightly in favour of RPL, and RIL said the merger will be effective from April 1, 2008. The boards have decided the swap ratio at 1:16, which implies that RPL shareholders will get one RIL share for every 16 shares held in RPL. RIL has decided to extinguish its treasury stock.

The merged company, Agarwal added, will be able to use cash flow in a better manner. He said the company sees significant cash flow from RPL in the first year of operations. He also doesn’t see additional depreciation benefits from RPL. Back in 2002, when RPL was merged with RIL, the swap ratio was fixed at 1:11, that is for every one share of RIL, 11 RPL shares.

Stock Market Prediction for 4th March 2009

Market may open down. Market may up between 10.55 and 11.15. Market may steady or down side between 13.25 and 13.47. Market may close at down to previous closing.


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Opening Bell Call
Buy

Exit all long term Position Major support of Nifty 2660 was broke on 2nd March 2009

On 3rd March 2009 - The BSE Sensex closed at 8427 (Down 179 points) while the NSE Nifty closed at 2,620 ( down 52 points).

Opening Bell Call
Sell

DRREDDY - Dr. Reddy's Laboratories Ltd.
GMRINFRA - GMR Infrastructure Limited
HEROHONDA - Hero Honda Motors Ltd.
RNRL - Reliance Natural Resources Limited
NAGARFERT - Nagarjuna Fertilizer & Chemicals Ltd.

Technical Analysis for 4th March 2009

BSE-SENSEX - Major Resistance - 8485, 8531, 8577, 8652, 8727, 8773, 8819, 8865
BSE-SENSEX - Major Support - 8410, 8335, 8289, 8243, 8168, 8093, 8018, 7943

NSE-NIFTY - Major Resistance - 2640, 2655, 2670, 2694, 2717, 2732, 2747, 2761
NSE-NIFTY - Major Support - 2617, 2593, 2578, 2563, 2540, 2516, 2492, 2468