Nifty (spot) 4504.00
Now, Nifty is likely to rally towards 4700 by this month end and the next short term correction is likely to occur around 4700 level. This view holds good as long as Nifty stays above 4400.
Instead, if it fails to hold above 4400 level, then it could decline towards 4200.
In the extreme short term, the level 4400 is crucial. A long as Nifty sustains above this level, the trend would remain bullish.
Nifty Intraday trading levels
Today, if Nifty trades below 4530, then it could test 4450. Instead, if it sustains above 4530, then it could test 4590.
Trading Strategy for Nifty
For intraday, the crucial level is 4440. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 4400 for a target of 4700.
Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bullrun is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Short term trading calls of Stocks
The short term trend of this scrip is looking bullish and it is likely to test 800 in the short term and this view holds good as long as it sustains above 680.
On contrary, if it trades below 680, the short term trend would turn bearish and in the downside it is likely to decline towards 600.
For intraday, the crucial level is 690. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 680.
DLF
The short term trend of this scrip is looking bullish and it is likely to test 630 in the short term and this view holds good as long as it sustains above 500.
On contrary, if it moves below 500, then the short term trend would turn bearish and in the downside it is likely to decline towards 450.
The crucial level is 500 in the short term. Trade long above this level and be short below this level.
L&T
The short term trend of this scrip is looking bullish and it is likely to test 3000 in the short term and this view holds good as long as it sustains above 2600.
On contrary, if it trades below 2600, the short term trend would turn bearish and in the downside it is likely to decline towards 2450.
For intraday, the crucial level is 2640. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 2600.
RNRL
The short term trend of this scrip is looking bullish and it is likely to test 120 in the short term and this view holds good as long as it sustains above 90.
On contrary, if it trades below 90, the short term trend would turn bearish and in the downside it is likely to decline towards 80.
For intraday, the crucial level is 94. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 90.
Relinfra
The short term trend of this scrip is looking bullish and it is likely to test 1150 in the short term and this view holds good as long as it sustains above 1100.
On contrary, if it trades below 1100, the short term trend would turn bearish and in the downside it is likely to decline towards 900.
For intraday, the crucial level is 1120. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 1100.
Sensex : (15049.86) Today Sensex face resistance at 15271, if cross 15271 then goes up to 15493 and 15716. Sensex find support at 14884, if 14884 break then fall up to 14662-14500.
Nifty : (4504) Today Nifty face resistance at 4570, if cross 4570 then goes up to 4637-4650. Nifty find support at 4456, if 4456 break then fall up to 4389-4347.
We are there but there are developments across the globe, now the second biggest economy Japan facing political uncertainties as the Prime Minister resigned on 2nd, but the Nikkei closed in positive territory on 3rd, the Hang Seng lost 457 points but we were at Ganesh Puja.
The real challenge is that the previous jubilant mood can be carried further as the new opportunity at hand can be used by Bulls is the question at this moment?. The newspaper headlines quoting on the Indo-US nuclear deal that come for discussions at the NSG meet will reveal the conditions and proposed restrictions on India to conduct future nuclear tests. The Asian markets are bleeding in red as Hang Seng lost 140 points, Nikkei lost 45 points and the SGX is now quoting at 4450 level a 55 points down from the Friday closing.
The Nifty has to cross and trade above 4539-41 level to continue the up move to become a trend in the coming days. The Nifty has bottom support at 4449-51 level as first support and the better one at 4421-19 level. This can be achieved only when the RIL trades above 2220 level and the high shall cross the serious resistance at 2265 level. The ONGC is in better place good above 1065 level, so today it won’t considerably fall below that level.
For today, the RIL has resistance at 2243-41 level and the support at 2161-65 level.
The ONGC may get support at 1065 level. The SBIN has resistance at 1553-56 level above that level it will touch 1591-89 level. The Support expected to come at 1471-67 level.
The ICICI will rally further if it trades above740 level, the immediate resistance at 729-31 level, support can be expected at 691-693 level. The RCOM one of the weakest stock in the Nifty is good above 405-03 level and may find resistance at 411-15 range, the reasonable support at 391-93 level.
The reality pack may get some selling pressure, the DLF is good above 515 levels and it shall not trade below 503 levels to see the up move continued in future.
The Tata Steel, Sail and RPL are in their previous levels.
The NTPC and BHEL will see a knee jerk reaction in case any negative developments at NSG meeting. Incase NTPC trades below 171.90 and BHEL trades below 1646 level, expect some smoke before the fire engulfs.
ICICI BANK : (714.05) Sell ICICIBANK below 714 for a target of 683. stoploss at 730.
HDIL : (325.50) Sell HDIL below 325 for a target of 310 and 292. stoploss at 340.
ORBITCORP : (304.25) Sell ORBITCORP below 304 for a target of 286. stoploss 315.
GujNRECoke : (104) Buy GujNRECoke above 104 for a target of 110 and 116. stoploss at 100.
Sesa Goa : (151.30) Buy SESAGOA above 153 for a target of 161 and 170. stoploss 145.
Nifty (4504) Sup 4450 Res 4550
Buy Sterlite (638)
SL 632 Target 650, 654
Buy SAIL (155)
SL 152 Target 161, 163
Buy Bharti Airtel (835)
SL 828 Target 850, 854
Buy Zee Ent (226)
SL 222 Target 234, 236
Sell Amtek Auto (186)
SL 189 Target 180, 178
PRICE: RS.2562 RECOMMENDATION: BUY FY09E P/E: 23.3X Price : Rs216.70
Breakouts ICICIBANK , IOC and RELCAPITAL.
Nifty :: With support of sharp decline in world commodity prices, Nifty given breakout of our strong resistance zone 4400 to 4435, and move up sharply up to next strong resistance 4513 and close below it. Now for 4th Sep 4513 level works as important level. Above 4513 momentum seems up below 4513 momentum down.. Watch down side strong support at 4475. Up to 4475 nothing too worry.. Our strategy for 4th Sep. above 4475, Buy on dip (S.L 4475) Sell at high (S.L 4560) , OR if unable to cross 4560 sell at high buy on deep. Resistance for up move 4513/4540/4560/4596/4650.. Supports 4490/4475/4434 /4404/4385..
(Note : Technically we are still in bear marke
I was quite bullish after our market action on the last trading day but after watching the US market for past 2 days, I dont like it at all...Does not look good at all...Sure our market can still rally but to me it makes sense to take profits here and now if you're long with me...
I might also try some small shorts today but remember that its quite risky because of the strong momentum we saw before...We should know within the next 2 days whether it was the real thing....Till then the best thing might be to just sit out...Or if you are gutsy try some day trades...
TARGET PRICE: RS.3400SuzlonEnergy.pdf Hosted by eSnips
Price Objective : Rs370.00
Volatility Risk : HIGH
52-Week Range : Rs174.50-Rs460.00
Mrkt Val / Shares Out (mn) US$7,383 / 1,496.9
Average Daily Volume 6,267,761
Bloomberg / Reuters SUEL IN / SUZL.BO
The strength in which our companies are operating is being put to pressure as there is considerable change in the economic conditions and the global slow down. The Indian exports are less than 2% when compared to world trade but for us as those three Olympic medals are so worthy to celebrate with out comparing the China’s, likewise the growth in our exports stimulates our confidence to compete in the world competition.
The Friday move in banking sector and the reality sector are more than they deserve at this juncture. The move will help to off load some more quantity while it turns to ride down southwards. But the technicals suggest that the Nifty far away from the verge of fall. The Nifty is good above 4435, as an immediate support level but the conditions favour the bulls so long it trades above 4365 level.So the Nifty may correct from these levels but doesn’t offer a situation for naked shorts at this critical juncture.
2. Profit from online stock trading tips:ABB gave a profit of Rs 1500, Mundra port gave a profit of Rs 300, Punj Llyod gave a profit of Rs 230 for every 100 shares traded as per tip given. Ranbaxy did not reach the entry price set up and thus trade was not executed.
3. Strong Future stocks trading data
Great offshore
indian bk
Edu sol
can bk
Jet airways
union bk
BOB
Punj llyod
Kotak Mah
Syndicate bk
4. Weak Future stocks trading data
Seasa Goa
NDTV
Shree Renuka
HTMT Glob
Triveni
Chennai petro
Bongaigaon
hindalco
Aban
Housing Devp
5. Online stock trading tips for intraday
Buy ICICIbank>715.1,726,737 sl 708.8
Buy Satyam>434.1,437,440 sl 429.5
Buy ABB>920.1,930 sl 915.8
News from the crude front still remains good as it continues to trade in the vicinity of $108 today. But the news from the world over has turned negative. Today was a holiday in the Indian markets on account of Ganesh Chaturthi and while the Indian traders were enjoying a quiet holiday here, the traders in Asia and Europe were busy selling. All Asian markets, with the exception of Nikkei, closed between a percent and two percent down. The European markets met with the same fate today when they opened. The US markets, surprisingly, were only half a percent down today.
Suddenly, once again, the nuke deal seems to be of the prime importance for the time being. According to a letter written on January 16 earlier this year by Late Mr. Tom Lantos, the then Chairman of the House Foreign Affairs Committee, which was made public by the current Chairman Howard Berman, the US has the right to stop nuclear fuel supply to India altogether should it conduct another nuclear test. And all the time the Manmohan Singh government has been claiming that the deal in any way would not prevent India from conducting any more nuclear tests. As per the US Ambassador David C Mulford, there is nothing new in the letter made public today and that New Delhi was kept in the loop all the time. And the UPA government sources say that they are aware of the current US policy. Now, what does that mean? That in spite of knowing about these restrictions, the government was going ahead with the deal, thus jeopardizing the country’s national security, and all the while keeping the opposition and the Indian public in the dark? And worst of all, the US State Department had asked the US Congress to keep the letter a secret because the information was so ‘sensitive’ that it could have toppled the Manmohan Singh government.
I am sure the Indian public has some questions to ask the UPA government. Was the deal so important that they could goahead with it in spite of knowing that their hands would be tied when it came to the security of the country? If it was, then why was the government making repeated assurances that their hands would not be tied? And if it knew about these restrictions, why was the public and the opposition kept in dark about this? Does it not feel ashamed now that the findings have become public? Please, readers, I need some comments from you. Am I wrong in asking these questions? Would you not ask the same questions? Or would you agree with what the government has done? Are there any American readers here? What do you, the people of America, feel about the India US Nuke Deal?
With this news coming out today, I feel there is no way, if the government has any shame left, that the deal can be operationalised in the current form. And if it can not be operationalised and if all the Asian and European markets are down, there is no way the Indian markets can ignore all of this. So, the Indian markets are bound to come down tomorrow, unless something drastic happens overnight.
Seen above is the daily chart of the Nifty and as can be seen, the Nifty is now heading towards the upper end of the range at 4650. As of now, the chances are quite bright that the markets would open with a negative gap tomorrow. Would that mean a return line failure, which means that the prices would fail to reach the upper end of the range? That would mean that the RSI would find resistance near 60, which means there is no strength in the markets. And that means no weakness either, because in trading ranges the RSI is expected to move between 40 and 60, or maybe 35 and 65. This implies that we are now again looking at a support near 4200. And a retest of that support after a return line failure could mean that the test may fail support may break.
I just went through a post at othersite which says that what India was thinking about NDeal is not the case.There are many rules and many regulations and if that is the case I am afraid the N Deal will not go through....
I am pasting it here:
Embarrassing revelations on the nuclear deal
September 03, 2008
The Bush administration, through a gag order on its written responses to Congressional questions, had sought to keep the Indian public in the dark on the larger implications of the nuclear deal, lest the accord run into rougher weather. But now its 26 pages of written answers have been publicly released by a senior United States Congressman.
The administration's January 2008 letter to the House Foreign Affairs Committee -- made public by Representative Howard L Berman on Tuesday -- bring out the following:
The US has given no binding fuel-supply assurance to India.
The prime minister told the Lok Sabha on August 13, 2007 that 'detailed fuel supply assurances' by the US for 'the uninterrupted operation of our nuclear reactors' are 'reflected in full' in the 123 Agreement. But the Bush administration has denied this. Its letter to the House Committee states that the US will render help only in situations where 'disruptions in supply to India... result through no fault of its own,' such as a trade war or market disruptions. 'The fuel supply assurances are not, however, meant to insulate India against the consequences of a nuclear explosive test or a violation of nonproliferation commitments,' the letter said. The letter also reveals that the US has given no legally binding fuel-supply assurance of any kind.
No US consent to India's stockpiling of lifetime fuel reserves for safeguarded power reactors.
The prime minister had told the Lok Sabha on August 13, 2007 that, 'This Agreement envisages, in consonance with the Separation Plan, US support for an Indian effort to develop a strategic reserve of nuclear fuel to guard against any disruption of supply for the lifetime of India's reactors.' But the Bush administration's letter to the House Committee makes clear that India will not be allowed to build such stocks as to undercut US leverage to re-impose sanctions.
US civil nuclear cooperation is explicitly conditioned to India not testing ever again.
The prime minister told the Lok Sabha as recently as July 22, 2008 that, 'I confirm that there is nothing in these agreements which prevents us from further nuclear tests if warranted by our national security concerns. All that we are committed to is a voluntary moratorium on further testing.'
Last year, he had told Parliament that, 'There is nothing in the Agreement that would tie the hands of a future Government or legally constrain its options to protect India's security and defence needs.' The Bush administration, however, has told the House Committee that India has been left in no doubt that all cooperation will cease immediately if New Delhi [Images] conducted a test.
The US has retained the right to suspend or terminate supplies at its own discretion.
The Bush administration letter plainly contradicts the prime minister's assertion in Parliament on August 13, 2007 that, 'An elaborate multi-layered consultation process has been included with regard to any future events that may be cited as a reason by either Party to seek cessation of cooperation or termination of the (123) Agreement.' The letter states that the US right to suspend all supplies forthwith is unfettered.
The letter makes clear that the 123 Agreement has granted India no right to take corrective measures in case of any fuel-supply disruption.
Rather, India's obligations are legally irrevocable. It further indicates there is no link between perpetual safeguards and perpetual fuel supply. Contrast this with what the prime minister claimed in Parliament on August 13, 2007: 'India's right to take "corrective measures" will be maintained even after the termination of the Agreement.' Or the prime minister's repeated assurances to Parliament since March 2006 that India's acceptance of perpetual international inspections will be tied to perpetual fuel supply.
The Bush administration's letter states that the 123 Agreement fully conforms to the Hyde Act provisions.
In a press release recently, the Prime Minister's Office made the following claim on July 2, 2008: 'he 123 Agreement clearly overrides the Hyde Act and this position would be clear to anyone who goes through the provisions.'
The letter assures Congress that the 'US government will not assist India in the design, construction or operation of sensitive nuclear technologies.'
That rules out not only the transfer of civil reprocessing and enrichment equipment or technologies to India even under safeguards, but also casts a shadow over the US granting India operational consent to reprocess spent fuel with indigenous technology. Under the 123 Agreement, India has agreed to forego reprocessing until it has, in the indeterminate future, won a separate, congressionally vetted agreement.
On one issue, the 123 Agreement had held out hope for India in the future by stating in its Article 5(2) that, 'Sensitive nuclear technology, heavy water production technology, sensitive nuclear facilities, heavy water production facilities and major critical components of such facilities may be transferred under this Agreement pursuant to an amendment to this Agreement.' But the Bush administration's letter to Congress states that the US government had no plan to seek to amend the deal to allow any sensitive transfers.
Contrast this with what the prime minister said in Parliament on August 17, 2006 -- that India wanted the 'removal of restrictions on all aspects of cooperation and technology transfers pertaining to civil nuclear energy, ranging from nuclear fuel, nuclear reactors, to reprocessing spent fuel.' Lest there be any ambiguity regarding this benchmark, he added: 'We will not agree to any dilution that would prevent us from securing the benefits of full civil nuclear cooperation as amplified above.' Earlier, on August 3, 2005, he told the Lok Sabha that he had received 'an explicit commitment from the United States that India should get the same benefits of civilian cooperation as (an) advanced country like the United States enjoys.'
Dr Brahma Chellaney, a professor of strategic studies at the Centre for Policy Research in New Delhi, is the author, among others, of Nuclear Proliferation: The US-India Conflict.
Comments:
Well,
It is very clear that US do not gives any guarentee for uninterrupted Uranium.USA is not binded by the law that they will give fuel ....besides that there is a clause that if India TEST a nulcear explosion...USA will immidiately stop giving Uranuim and that in no circumstances the PEOPLE OF INDIA WILL GET READY TO TAKE.
If the nuclear deal is going to create 10,000 jobs in US itself and if US feels that they are the natural ally of India as both believes in democracy then US will have to overrule it otherwise with the above article , which is a part of 123 agreement, this deal is definately not going through.....US can't impose rules to go for civil nuclear to India. If this is a win win situation for both and if both countries are to be benifitted then why there are RULES.......
India's SECURITY is at the TOP of anythi ng in the WORLD and not a single Indian will do away with it....India has all rights to do whatever she feels is needed for her defence and that RIGHT INDIA WILL NEVER SURRENDER TO ANYBODY..........I think USA should understand that and think over it.....
Indian N-deal will create 10000 jobs in US: State Dept
Wed, Sep 3 01:55 PM
India plans to import eight 1000 mw nuclear-powered reactors by 2012 and the US hopes to win at least two contracts, which it feels will significantly boost its atomic industry.
The envisaged sale of at least two reactors, to what it calls 'lucrative and growing Indian market', would create 3000-5000 direct jobs and 10,000-15,000 indirect jobs in the US nuclear industry, the US Department of State has said.
"Access to Indian nuclear infrastructure would allow US companies build reactors more competitively here and in the rest of the world -- not just India," it said in answer to questions raised by the powerful US House Committee on Foreign Affairs.
Though the replies to searching spate of queries raised by the House Committee on Foreign Affairs were delivered in October, 2007, they were made public on Wednesday by the new Chairman of the panel Howard Berman just ahead of the Nuclear Suppliers Group plenary in Vienna to consider a waiver for India from its guidelines enabling atomic trade.
"We are confident that the initiative for a civil nuclear cooperation would yield important economic benefits to the US," the US State Department has told the Congress.
India currently has 15 operating nuclear power reactors with seven under construction, but 'it intends to increase this number significantly,' it said.
The Department's assessment says that meeting this ramp up in demand for civil nuclear reactors, technology, fuel and support services holds the promise of opening new markets for the US.
The US also feels that participation in India's emerging market will help make the American nuclear power industry globally competitive thereby benefiting its domestic nuclear power sector.
"This initiative will permit US companies to enter the lucrative and growing Indian market -- something they are currently prohibited from doing so," it said.
The State Department has listed 15 nuclear-related US firms, including giants like General Electric and Westinghouse who are ready to move to India.
The State department feels that a successfully implemented civil nuclear cooperation initiative with India will allow scientists from both the nations to work together in making nuclear energy safer, less expensive, more proliferation resistant and more efficient.
"Newly forged partnerships in the nuclear field will facilitate scientific advancement in the many facets of nuclear energy technology," it said.
The US also feels that Indian involvement in global for a such as International Thermonuclear Experimental Reactor and the Generation-IV Forum can expand the potential for innovation in the future of nuclear energy as well as stake of emerging countries in developing cheaper sources of energy.
US official have also revealed that Washington may choose to allow India to participate in the future in the Department of Energy's Global Nuclear Energy Partnership and allow it to collaborate with advanced nuclear technology in developing new proliferation resistant technology.
"Such interaction could only be contemplated subsequent to the civil nuclear cooperation initiative," US officials said.
Comments:
It is obvious that this deal will do loads of good for US company as well.It will also do loads of good for Nuclear plants co in USA......It is estimated that around rupees 30,000 cr will be invested if the deal goes through and if it doesn't go through then many companies will be loosing an opportunity in USA as well as in India.India needs power(nulcear Power for civil use) to grow but not at the cost of its security......
Prez Bush has to rethink it over.
NIFTY WILL CROSS THE 4540 WILL DEPEND ON DOW AND CRUDE.SO IF DOW CROSSES 11860 AND CRUDE BREAKS 106 ON CLOSING BASIS THEN WE WILL BE IN UPTREND OTHERWISE CHANCES OF DOWNTREND ARE VERY HIGH..........
********Technicals***** ~September 2~Breakout from sideway trend occurs with a bang.
Now follow up buying is required to claim for uptrend.
If nifty trades and closes above 4540 then uptrend will resume with targets of 4640,4770.
But if nifty again trades below 4450 without trading above 4540 then nifty will be again sideways with downward bias.
***Nifty**** ~ September 2~
Nifty (September) future premium increased from 1.75 points
to 12.55 points. Around 12.80 lakh shares
were added in open interest with an increase in the cost of carry,
indicating long accumulation.
***Options**** ~September 2~
Nifty call option added 11.70 lakh shares in open interest, whereas
put option added 30.54 lakh shares in open interest Thus open interest put-call ratio increased to 1.39.On the option front, implied volatility
has increased marginally, which indicates that volatility will remain
high in the coming days
*******Fund flow*** ~ September 1~
~FII index fut -200cr
~FII stock fut – 64cr
~FII cash -172 cr
~Mut cash -81 cr
*******total fund flow -517 cr today & nifty was down by 11 points.
****** so far net fund flow of +191 cr in September series. (nifty is up in September series).
***********Past fund flow**********
~ Net fund flow of +6474 cr in July series. (Nifty +18 in series, closed at 4333)
~ Net fund flow of -8071 cr in June series (Nifty -520 in series, closed at 4315)
~Net fund flow of -6641 cr in August series. (Nifty -119 in series, closed at 4214)
happy trading and investing
Nifty Futures gains 3.82 % showing off some volatility - the ATR at the close today stands at 107 and rising. We are near the earlier levels of resistance and frankly we can't read too much into todays move. As the rising ATR (blue arrow) shows, we are in for bigger moves and yet bigger surprises ahead in the coming days. Trading this set up is going to be a tough task, and the volatility which gave you profits one day can strip you naked the next day
coming support is the circled area near/below 15 p/e approx 3550 on nifty.
W3=1.6W1 ,If this count is correct SBI is heading for a good fall.
Lets talk more about wave counts
Near 1600 5 wave up done
A 1600-1300(Clear 5 down)
B 1300-1548(3 wave)
here in B>>> c=1.6a( looks steep) so lil confusion thrustfull B?
If this wave counts are true SBI is heading for atleast couple of 100's fall.
Lets discuss another wave count
1000-1600 3 wave up
1600-1300 4th wave
now 5 th wave in progress
well if this case is true SBI can touch recent highs again.
lets get little more closer :)
lets take this 5th up
As of now looks like 3 waves done and 3=1.6(1 ) followed clearly so 4th can start anytime,
Before 5th up.
One important conclusion after this wave talk
SBI is headed for some fall. How much?
We will see in coming days this second count fails if we go below 1400.
They had a bright future if they would be success to mature there proposal of treatment of Fines.
In India we have heard about the Iron ore mines at Orrisa & nearby worth mentioning would be a place called "Virbil". The iron ore procured from these mines are used as raw material for sponge iron plant.But the fine particles or dust are considered as waste ,as because the technique for treatment of fines or dust is not yet introduced in India.Hence it is exported to China as a waste.
Adhunik Corporation & Jai Balaji has joined hands to introduce treatment of those fine particles thereby making utilization of so called waste and making huge gains , it would help to boost up there gains in the coming financial years with a promising future ahead.
Though the entire plan is yet under purview and is likely to mature.Though the future is always uncertain so it could not be guaranteed but if could mature the price of the stock will soar. It wouldn't be a bad idea to have some holdings of either of the stocks in our portfolio.As the stock has seen good correction in the market's cyclical bear phase so the price of the stock is also justified.
BSE Code: - 526881
CMP: - 1421.35
Market Cap: - 6,522.36 Cr
52 Week H/L : - 2855.00 - 1340.00
Summary: -
Financial Technology one of the favourate of investors floated by Mr. Jignesh Shah.
Financial technology has many products working in the financial trading markets. . It has products like ODIN, Inet.net, iWin, FXDirect, etc. These cover all stages of trading – pre trade, trade and post trade. These products cater to Exchanges, Brokers, AMCs,, Depositories, Custodians, Banks, etc.
Financial technologies has set up two commodity exchanges Multi Commodity Exchange (MCX) and Dubai Gold and Commodity Exchange (DGCX). Over the next few years the commodities market is expected to experience exponential growth and Financial Technologies should be a huge beneficiary.
And Also has Stake in Singapore Mercantile Exchange.
Analysis: -
I am recomending this scrip as MCX IPO is awaiting to enter the markets.
The total value of India’s agri produce is equal to US $ 85 billion. Assuming a multiple of 10 times to the commodities futures market the total size should be to the order of US $ 850 billion. It stands at less then US $b 2 billion today.
Financial: -
At a PE of 6.78 the stock looks attractive and cheep.
Paid a divident of 200% this year on a FV of 2.
" This is a best scrip only for Long Term Investors"
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