HDIL View - 27th April 2012

Looking at the HDIL chart, the move from 52 low to 128 levels was a 61.8% retracement. Now the price has started coming down with decrease in volumes and has taken support at the 23.6% level of 81.25. However, if price heads lower with increasing volumes then there will be a divergence and could results in price moving down faster. Again, if volumes continue to drop then price will drift lower slowly.

Prime Focus - Investment idea

http://www.indiainfoline.com/Markets/News/Prime-Focus-gains-as-promoter-converts-warrants-into-shares-at-premium/4256196560

Prime Focus rose 1.09% to Rs. 51 at 9:34 IST on BSE after the company said its board has approved the conversion of 10 lakh convertible warrants held by the promoter, Mr Namit Malhotra into 1 crore equity shares at Rs. 55.47 per share. Crossover above 55 can take the stock past 60 and up to 52 week high of 78+. I would recommend a slow accumulation at every dip so as to average the cost per share. Downside, the 52 week low is 37.10.

INFY View

The swing low is priced @ 2333 and considering the futures premium to the spot price, the price to enter INFY futures would be 2355/2350.

If bought in cash, then is a good bet for long term with first target of 2450 which is the 23.6% fibonacci retracement.

TCS swing view

TCS swing, 1130 being support right now and the purple line is swing down. However, if crosses 1145 and holds, then 1180 will come as part of a swing up.

Financial Events for April

FINANCIAL EVENTS IN APRIL

11th April: Supreme Court to hear Chidambaram Petition in 2G Case.
12th April: February Industrial Production YoY
13th April:
Hearing on GoI Plea in 2G Licence cancellation case; Supreme Court Hearing on Karnataka Mining
Results: INFOSYS
Monthly Wholesale Prices YoY%
16th April: Results: Mindtree, CRISIL, Castrol,
17th April:
Hearing of Vodafone Transfer Pricing Case in Bombay High Court;
Monetary Policy Statement 2012-13; India REPO Cutoff Yld; Cash Reserve Ratio; Reverse Repo Rate
Results: VST Industries, Goa Carbon, SKF India
18th April: Results: CMC, HCL Tech
19th April: Results: ACC, IndusInd Bank
20th April: Results: Mastek, Cairn India
21st April: Hearing of the Ruia’s Case
22nd April: Results: Persistent Systems
23rd April: Results: TCS, Noida Toll Bridge
25th April:
Results: Wipro , India Cements
AGM: HeidelbergCement
EGM of AB Nuvo, to Issue 1,65,00,000 Warrants to Promoter / Promoter Group on preferential allotment basis;
26th April: Results: Bata, Kirloskar Industries, Kirloskar Oil, Agro Tech Foods, Vesuvius India
27th April: Results: ICICI Bank, AXIS Bank
28th April: Results: Maruti
30th April: TITAN, Godrej Consumer, Dabur

JSW Steel swing view

As mentioned earlier, Zain was working on a swing chart. Here is a snapshot view using swing on JSW steel. Right now 678 is crucial for the stock.

Happy Easter to everyone

Likelihood of another April Slide.... (Source - BloombergBusinessweek)

http://www.businessweek.com/articles/2012-03-30/stocks-yet-another-spring-slide