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MH WEEKLY RESEARCH REPORT

22 Jan 2011

COMMODITY MARKET
Refined Soya Oil
o o o o Symbol (NCDEX)- SYOREFIDR Last Traded Price:Rs.665.75 Weekly Change:+33.10 Season: Not a particular

News this week:


Analysts said increased buying by speculators on the rise in demand in the spot market helped refined soya oil prices to trade higher at futures market this week. Our call for next week: Hold Next Week Price Movement: R-675 R-700 S-645 S-635

Rapeseed-Mustard seed
o o o o Symbol(NCDEX)-RMSEEDJPR Last traded price:Rs.554 Weekly Change:+5.25 Season: Growing season

News this week:


Mustardseed futures prices hardened due to speculative buying support by traders in line with high spot markets sentiments. Market analysts said pick up in demand from edible oil making industries against restricted supply in spot markets mainly brought down the rise in futures trade. Our call for next week: Hold Next Week Price Movement: R-562 R-580 S-547 S-538

Silver
o o o Symbol(MCX)-SILVERM Last Traded price:Rs.42744 Weekly Change: -1506

Silver this week:


Silver rose for first three days of the week due to positive sentiments about the recovery of the US economy which lead to decline in value of dollar and metals where good alternate investment options. Even the rise in demand of precious metals was due to ongoing marriage season in local market. Concerns that the European sovereign-debt crisis may linger also raised demand for precious metals as a alternate investment. But last three sessions saw some weak trends due to reduced off take at prevailing higher levels and amid weak global trends. Our Call for next week: Sell Next Week Price Movement: R-43667 R-44358 S-42537 S-40660 MavjiHari Financial Services

MH WEEKLY RESEARCH REPORT

22 Jan 2011

Gold
o o o Symbol(MCX)-GOLDM Last Traded Price: Rs.20085 Weekly Change:-186

Gold this week:


Last week the yellow metal had fallen down due to chinas tightening rates and the hopes of EU to stabilize again but Gold saw some recovery this week in initial sessions. Reasons for recovery were, Firstly, February is a marriage season in local market which might increase the demand of gold. Secondly, EU stability is yet a big question mark which has again led to investment in precious metals. Thirdly, winter harvesting season is expected to be good farmers which will end up with high disposable income with them which ends up in demanding gold. But last 2 session were somewhat dicey due to weakening global trend and some profit booking by short term retail investors. Demand for gold is going to increase in spot market due to marriage season in India starting from next month. Our call for next week: Sell Next Week Price Movement: R-20381 R-20600 S-19971 S-19727

Crude
o o o Symbol(MCX)-CRUDE Last Traded Price: Rs.4099 Weekly Change: -64

Crude this week:


Crude Oil globally seems to have up price movement due to inflation. Global market analyst are suggesting a up move for a crude oil may be till $120/barrel. Short term investors can have crude as an investment opportunity. But the crude was negative this week in future trading due to some weak global economies such as EU which made speculators to offset their positions in Crude. Our Call for next week: Sell Next Week Price Movement: R-4244 R-4368 S-4020 S-3982

MavjiHari Financial Services

MH WEEKLY RESEARCH REPORT

22 Jan 2011

EQUITY MARKET
NIFTY Outlook:
o o o o Closing:5696.50 Weekly Change: +41.95 points FII: Net seller- Rs.1682.75 Crores DII: Net buyers-Rs.1301.61 Crores

NIFTY was trading range bound this week between 5624-5747. Mixed sentiment were prevailing in the market this week which was the reason for range bound trading. Many analysts foresees market to touch 5500 once while Good results of some companies such as TCS, Axisbank, PNB etc led to positive moments and sentiments. RIL results were out on Friday eve with slightly above the market estimates. It seems market is waiting for changes in monetary policy by RBI on 25th Jan. It is expected that market has discounted the change of 25bps but if the change is more than market may see the levels of 5550-5600 before this expiry. Next Week Techical of Nifty R-5815 R-5884 S-5625 S-5520

NIFTY-50 Stock Picks:


SESAGOA
a. Last Price: Rs.336.60 b. Industry: Metal and Minning c. Sector: Iron and Steel

News Updates:
Sesa Goa Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 24, 2011, for taking on record Unaudited Financial Results for the Quarter ended December 31, 2010 (Q3). CNBC TV-18s Expectation of the result: MavjiHari Financial Services Revenues are seen up at Rs 2379 crore versus Rs 918.34 crore.
EBIDTA is seen at Rs 1307.98 crore versus Rs 303.4 crore.

Net profit is seen up at Rs 1272.5 crore versus Rs 387.9 crore.

Call is to BUY: T-345 T-367 T-392 SL-320

MH WEEKLY RESEARCH REPORT

22 Jan 2011

Jindal Steel and Power


o o o o Symbol: JINDALSTEL Last Price:Rs.699.85 Industry: Metals and Mining Sector: Iron and Steel

News Updates:
Jindal Steel & Power Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 24, 2011, inter alia, to consider and approve, standalone and consolidated un-audited financial results (provisional) for the quarter / nine months ended on December 31, 2010 (Q3).

CNBC TV 18s Expectations:


Revenues are seen up at Rs 3426.55 crore versus Rs 3082.99 crore, quarter-on-quarter, QoQ. EBIDTA is seen up at Rs 1682.1 crore versus Rs 1501.68 crore, QoQ. Net profit is seen up at Rs 1078.35 crore versus Rs 894.24 crore, QoQ.

Call is to BUY: T-735 T-758 T-790 SL-667

Disclaimer: The ideas expressed are purely the things that we do or would do with our investment and trading, anyone who follows what we do will be

doing it at their risk and knowingly. Source of News and information: Moneycontrol.com, nseindia.com, bseindia.com, ncdex.com, mcxindia.com

MavjiHari Financial Services