Dear All, Here is the technical check & corporate update. Hope it will help you
Source investmentguruindia.com <http://www.investmentguruindia.com/> *Technically Speaking - By Jigisha* The ongoing uptrend was maintained even on Moday, the first day of the week where market opened with a strong note, Spot Nifty tried to breach 3300 resistance zone couple of times but could not sustain beyond that. Some profit booking emerged at that level, finally Spot Nifty took intra day support around 3240 level and closed at 3256.60 up by 45.45 points or 1.42%. BSE Sensex closed at 10534.87 with a net gain of 186 points or 1.80%, BSE Midcap Indices closed at 3203.08 up by 77.66 points or 2.48% whereas Small Cap Indices closed at 3547.24 gaining 110.32 points or 3.21%. The volume was much higher than the previous trading session and the breadth was absolutely positive. The sterling show of selected Midcap stocks were also continued yesterday. Among the sectors Oil & Gas, fertiliser stole the show. Technically speaking in the Spot Nifty daily candle stick chart another bullish candlestick has appeared for the fourth day in a row, which depicts bullishness. Previous week Spot Nifty has broken out from its five months old resistance zone of 3150. Presently the minor trend is up and the trend line support exists at 3150. If we look to the momentum indicators MACD is in BUY mode, 14 days RSI and Stochastic Oscillator has again entered in the overbought zone, and there is no sign of any cooling off so far. Today in case of higher opening Spot Nifty will face initial resistance at 3280 followed by Monday's high at 3310 and finally at 3330 - 3350 zone. In the downside 3200 will provide initial support followed by strong support at 3150. Consecutive closing above 3250 may take Spot Nifty to test 3450 (which is close to 200 DMA) in the day's to come. Here it is to mention that most of the index heavy weights are overbought in the daily chart. Thereby in the extreme short term if there is some correction there is nothing to surprise however it will be good for the technical health of the market. Midcap stocks seem to be finding favour among the fund managers. Among the sectors Refinery, fertilizers stocks are looking technically good. Global rally seems to have halted. As most of the indices are overbought in the daily chart. In the commodity space bullion (gold and silver) is continuing with their correction and Crude is holding steady above 50$. *CORPORATE ACTION * 8/4/09 PowerGrid to borrow $ 2 bn from World Bank, ADB PowerGrid Corp said it will borrow USD 2 billion from the World Bank and Asian Development Bank to part finance Rs 55,000 crore investment plans till 2012. These loans would be utilised for financing the company's projects over a period of 3‐4 years. The ADB loan would be utilised for building the transmission link for the 4,000‐MW Tilaiya Ultra Mega Power Project in Jharkhand, slated for commissioning in 2015. This is part of company's plan to invest Rs 55,000 crore for setting up transmission lines in the country during the on‐going XIth Five‐Year Plan. (ET) JSL may raise Rs 500 cr to fund Orissa project JSL is planning to raise Rs 500 crore through various routes, including a rights issue or issuance of global depository receipts (GDRs), to fund its upcoming Rs 5,700‐crore stainless steel project in Orissa, said a top executive of the company. The board of directors shall also consider issuing equity shares to qualified institutional buyers through qualified institutional placement and raising money through international offerings by way of issue of FCCBS and GDRs. Though the Orissa steel plant was slated to get commissioned by mid‐2011, it has got delayed by a year due to economic slowdown and bleak market conditions. Once commissioned, the plant will produce 8 lakh tonnes of stainless steel every year. (ET) Fortis 'open' to buying rivals Fortis Healthcare, said it was open to acquiring rivals, including Wockhardt Hospitals, owned by Habil Khorakiwala. Fortis on April 2 had sought the Securities and Exchange Board of India's permission to raise Rs 1,000 crore from sale of rights shares. Fortis has in the past acquired hospitals, including Escorts Heart Institute and Research Centre and Malar Hospital, Chennai. Fortis said the funds to be raised through the rights offer were meant for the expansion plan, which included scaling up the number of hospitals to 40 from 27 by 2012. It plans to spend about Rs 2,500 crore ($500 million).Fortis Healthcare, the second‐largest healthcare chain in the country, planned to double its beds to 6,000 by 2012 from 3,000, said Shivinder Mohan Singh,managing director, Fortis Healthcare. (BS) DLF looks to raise Rs 900 cr from sale of 8 plots DLF expects to raise around Rs 900 crore in the next three months by selling at least hotel plots across the country. The real estate major is talking to several hotel companies, including ITC, Accor, Hyatt, Park Hotels, and buyout fund Duet Group for sale of these plots. Plots on the block are located in Mumbai, Kolkata, Bangalore, Gurgaon, Baroda, Lucknow, Kasauli (Himachal Pradesh) and Sikkim. DLF is selling these plots to raise funds for other hotel projects that are due to begin construction soon. The company may close 4‐5 deals in a month and the balance by June‐end, he added. (ET) Warm Regards Priya --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Embedded_C++_VC++" group. 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