KFA owes Bank of Scotland $21.6m: UK High Court

Vijay Mallya-owned troubled Kingfisher Airlines owes Bank of Scotland USD 21.6 million in overdue lease payments for 10 ATR 72-500 aircraft, a UK High Court has ruled, paving the way for potential action by the bank to recover the outstanding sum.
According to flightglobal.com, Bank of Scotland had brought the action on behalf of a consortium of lenders against Kingfisher's parent company, United Breweries Holdings , which had guaranteed the airline's obligations.
In his January 13 judgement, Justice Eder said: "I am satisfied that the amounts claimed are due and owing and that therefore in those circumstances the claimants are entitled to summary judgement in the sum claimed, that is $21,589,972.56".
He said he saw "no other good reason" why the matter should not proceed to trial.
The judgement paves the way for a potential action in India, or elsewhere, as it enables Bank of Scotland to pursue United Breweries Holdings' assets to recover the outstanding sum, the report said.
Dependent on the location of those assets, interaction with the local jurisdiction may well be required. Bank of Scotland, as the security trustee for a group of syndicated lenders, funded KF Turbo Leasing, a special purpose vehicle incorporated in the Cayman Islands that purchased the ATR aircraft.
Each aircraft was leased then by KF Turbo leasing, for a term of 10 years beginning on the delivery of that aircraft, to Kingfisher, according to UK documents.
Both parties entered into the agreement on March 29, 2007. The cash-strapped airline is already neck deep in financial woes and has asked for government help to bail it out.

Greek Bailout Payment Set to Be Approved by Euro Ministers After Debt Deal

Euro-area finance ministers seeking to step past the largest sovereign debt restructuring in history will attempt to gain a foothold this week as they grapple with implementing the latest Greek bailout.
Ministers from the 17 nations that share the euro will gather in Brussels today to sign off on the 130 billion-euro ($170 billion) second package for Greece after bondholders agreed last week to take a loss on the country’s debt. They’ll also focus on Spain’s budget-cutting efforts and Portugal’s aid program, underscoring their desire to prevent contagion.

The debt swap seeks to wipe more than 100 billion euros off Greece’s books and contain an economic collapse in the country as European overseers work to hold Greek leaders to their commitments. The difficulties the government in Athens will confront in meeting creditors’ demands have prompted speculation of still further assistance.
“Nobody can now exclude that Greece at a single moment may need a third bailout,” German Finance Minister Wolfgang Schaeuble was cited as saying in an interview published today in Belgian newspaper De Morgen. “I have all confidence that the measures that we have taken and that Greece must now implement - - no simple exercise -- will bring the country on the road to recovery.”

Sensex ends 358 pts up; metals shine, MCX rises 26%

The BSE Sensex staged excellent performance on Friday, trimming the major loss for the week as it had shed nearly 500 points in the previous three sessions. Successful completion of the debt swap deal by Greece with market participation at 95.7% helped the global markets to rally.
Short covering may be another reason that fuelled the rally. The BSE benchmark advanced 357.72 points or 2.09%, to close at 17,503.24 supported by 23 stocks. Meanwhile, the NSE benchmark gained 113.10 points or 2.17% at 5,333.55.
Rate sensitives saw huge buying interest ahead of monetary policy review (schedule to be announced on March 15) and even market experts see some action as industrial output dropped to 1.8% in December as against 5.9% in previous month. RBI governor D Subbarao too said they need to reduce bank's statutory liquidity ratio (SLR) going forward. "Number of preconditions need be met before SLR can be cut," he said. 
Shares of Multi Commodity Exchange ( MCX )

Sensex trims losses; Jaiprakash Associates, R Power up 6%

The BSE Sensex recouped its losses again, led by support from Infosys, HDFC Bank and ICICI Bank. L&T and SBI too recovered while Reliance Industries trimmed its losses to 2%.

The BSE benchmark fell just 11 points to 17,162.46 whereas the NSE benchmark gained 3 points at 5,225.55.

Among frontliners, Sterlite Industries, Sesa Goa, NTPC, Maruti Suzuki, Reliance Industries and BHEL were biggest losers, falling 2-4%.

However, Jaiprakash Associates shot up 6.75% after losing more than 7% in previous five sessions due to Bahujan Samaj Party lost election in Uttar Pradesh.

Reliance Power gained 6% on short covering. HCL Tech, Reliance Infrastructure, Bajaj Auto, Wipro, Tata Motors, DLF and HDFC Bank gained 1-2%.

State-run Bank of India fell 1% after Moody's downgraded the bank to D from D+, but kept outlook stable.

INDIA: ITC : BUY

INDIA: ITC : BUY
BSE: 500875 | NSE: ITC
CMP : INR 210 , SL : INR 205 , TGT : 215
INTRADAY

Market Outlook for 7-Mar

The trend deciding level for the day is 17,331 / 5,270 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,534 – 17,895 / 5,334 – 5,446 levels. However, if NIFTY trades below 17,331 / 5,270 levels for the first half-an-hour of trade then it may correct up to 16,970 – 16,767 / 5,159 – 5,095 levels.

Choppy Sensex under pressure; ADAG stocks most active

The BSE Sensex continued to fall amid choppy trade, weighed down by banks, metals, oil & gas, realty and capital goods stocks. The market looked cautious due to likely impact on growth reforms after Congress lost elections in Uttar Pradesh and limited options with Congress to induce aam adami via upcoming budget. Even falling rupee that raises import bill and upcoming monetary policy are other reasons that market is eyeing.

Suresh Mahadevan, UBS Securities feels that the market is likely to remain nervous till Budget. He said that the market is now focussed on economic recovery and earnings momentum.

"Till Budget, the market may remain worsen. The other thing to watch out is global issues like crude which is also not working out in our favour. So a combination of all this could mean some kind of near-term weakness but I wouldn't worry about anything so fundamental or anything at this point," he elaborates.

The BSE benchmark was down 92 points to 17,081.18 and the NSE benchmark declined 29 points to 5,193.15.

Five Leadership Lessons From James T. Kirk

Captain James T. Kirk is one of the most famous Captains in the history of Starfleet. There’s a good reason for that. He saved the planet Earth several times, stopped the Doomsday Machine, helped negotiate peace with the Klingon Empire, kept the balance of power between the Federation and the Romulan Empire, and even managed to fight Nazis. On his five-year mission commanding the U.S.S. Enterprise, as well as subsequent commands, James T. Kirk was a quintessential leader, who led his crew into the unknown and continued to succeed time and time again.

Kirk’s success was no fluke, either. His style of command demonstrates a keen understanding of leadership and how to maintain a team that succeeds time and time again, regardless of the dangers faced. 

Here are five of the key leadership lessons that you can take away from Captain Kirk

Goldman’s Secret Greece Loan Reveals Sinners

Greece’s secret loan from Goldman Sachs Group Inc. (GS) was a costly mistake from the start.
On the day the 2001 deal was struck, the government owed the bank about 600 million euros ($793 million) more than the 2.8 billion euros it borrowed, said Spyros Papanicolaou, who took over the country’s debt-management agency in 2005. By then, the price of the transaction, a derivative that disguised the loan and that Goldman Sachs persuaded Greece not to test with competitors, had almost doubled to 5.1 billion euros, he said.

Papanicolaou and his predecessor, Christoforos Sardelis, revealing details for the first time of a contract that helped Greece mask its growing sovereign debt to meet European Union requirements, said the country didn’t understand what it was buying and was ill-equipped to judge the risks or costs.

“The Goldman Sachs deal is a very sexy story between two sinners,” Sardelis, who oversaw the swap as head of Greece’s Public Debt Management Agency from 1999 through 2004, said in an interview.
Goldman Sachs’s instant gain on the transaction illustrates the dangers to clients who engage in complex, tailored trades that lack comparable market prices and whose fees aren’t disclosed. Harvard University, Alabama’s Jefferson County and the German city of Pforzheim all have found themselves on the losing end of the one-of-a-kind private deals typically pitched to them by securities firms as means to improve their finances.

Goldman Sachs DNA

“Like the municipalities,

Lehman Says It Exits Bankruptcy, to Pay Creditors

Lehman Brothers Holdings Inc. (LEHMQ), which filed the biggest bankruptcy in U.S. history in 2008, said it was exiting bankruptcy and would make its first payment to creditors on April 17.

The defunct investment bank has about $18 billion of cash available, it has said. In theory, it could give creditors $12 billion to $14.7 billion initially, depending on how much cash it needs to keep in reserve for disputed claims, it has told a judge in U.S. Bankruptcy Court in Manhattan. Today’s statement from Lehman didn’t specify the size of the distribution.

The failed energy trader Enron Corp.’s investors were paid 53 cents on the dollar, while Lehman’s $65 billion liquidation plan would give the average creditor less than 18 cents in the next few years, according to court documents.

The bankruptcy case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

http://www.bloomberg.com/news/2012-03-06/lehman-amends-archstone-suit-against-bofa-after-zell-bids-1-5-billion.html

Investors Holding 20% of Greek Debt for Swap

The private investors that so far declared their participation in Greece’s debt restructuring hold about 20 percent of the bonds involved in a swap required for an international bailout.

The 12 members of the creditors’ steering committee that said yesterday they would join in the exchange have debt with a face value of at least 40 billion euros ($53 billion), compared with the 206 billion euros of Greek bonds in private hands, according to data compiled by Bloomberg from company reports.

European officials are pressing investors to swallow the writedowns to avert even greater losses. The participating firms include some of Greece’s biggest creditors, including National Bank of Greece SA, Alpha Bank SA (ALPHA), BNP Paribas SA (BNP) and Commerzbank AG. (CBK) The goal of the swap, which runs through March 8, is to reduce by 53.5 percent the total of privately held Greek debt, helping avert an uncontrolled default that could roil markets and spur contagion to states such as Portugal.

Peugeot to Sell Shares at 42% Discount

PSA Peugeot Citroen (UG), Europe’s second-biggest carmaker, plans to sell shares in a 1 billion- euro (1.32 billion) capital increase at a 42 percent discount.

Shareholders, who will have the right to buy 16 shares for every 31 they already own, will pay 8.27 euros per share, the Paris-based carmaker said in an e-mailed statement today. That compares with a closing price of 14.21 euros yesterday.

General Motors Co. (GM) and Peugeot announced last week a broad alliance that will include joint purchasing and vehicle development in an effort to revitalize their European operations. GM will buy 7 percent of the French carmaker as part of the partnership.

“This money will be directed to our strategic projects with GM,” Chief Financial Officer Jean-Baptiste de Chatillon said on a conference call with journalists today. “The money will allow us to accelerate this strategy.”

Peugeot
declined as much as 95 cents, or 6.7 percent, to 13.26 euros and was down 5.5 percent to 13.43 euros as of 11:40 a.m. in Paris trading. The shares have gained 12 percent this year, valuing the French carmaker at 3.14 billion euros.

“The share price never falls down to the offer price,” said Philippe Houchois, a UBS AG automotive analyst in London. “In theory, the price should be 12.30 euros, but a lot will happen in the next two weeks. Peugeot’s shares will eventually stabilize if everything remains constant.”

Read more at : http://www.bloomberg.com/news/2012-03-06/peugeot-seeks-to-raise-1-3b-in-rights-offer.html

NovaGold Resources – New Drill Results at Galore Creek – NG

NovaGold Resources Inc. (NYSE : NG) is pleased to announce results from a 10,000 meter resource infill drilling program on the 50%-owned Galore Creek property located in the Territory of the Tahltan Nation in North Western British Columbia, Canada.

The Galore Creek property is held by a partnership owned equally by wholly-owned subsidiaries of NG and Teck Resources Limited and managed by Galore Creek Mining Corporation . NG announced the results of the Pre-Feasibility study on the Galore Creek project (the “Pre-Feasibility Study”) by news release dated July 27, 2011.

The 2011 campaign confirmed previous drill results produced by GCMC as well as the potential for substantial extension of chalcopyrite and bornite mineralization beyond the current limits of the 528Mt Reserve Pits provided for in the Pre-Feasibility Study.

During

Gold Prices Continue to Slide

After retreating sharply last week, the gold prices continued to fall as the sell off pressure continued in the bullion market. The continued reversal in gold price is attributed to weak economic data emerging from Europe, China and the U.S.

Gold for April delivery lost $5.90, or 0.3%, closing at $1,703.90 an ounce on the Comex division of the New York Mercantile Exchange.

Last week, gold prices plummeted by over 4% after Fed’s chairman Ben Bernanke testimony to lawmakers.  In his remark, Bernanke stop short of hinting at another round of quantitative easing.
Morgan Stanley said in a research note on Monday that negative real interest rates and accommodative monetary policy were and remain the key drivers of investment demand and Bernanke’s testimony last week did nothing to remove this benefit. Morgan Stanley said that under these circumstances, QE3 would have been icing on the cake for the monetary easing trade, but not the fundamental driver of bullish investor positioning.

Charles Nedoss, senior market analyst as Olympus Futures, Chicago said that Gold and silver have been left in precarious technical positions. “I don’t think the lows are here yet” for gold, and silver “has outpaced gold on its way up and it is doing the same thing on its way down,” added Nedoss.
Gold ETFs also fell sharply on Monday, with the SPDR Gold Trust (ETF) (NYSE: GLD) ending the day 0.43% lower at $165.65 on volume of 2.85 million.

Silver for May delivery dropped 87 cents, or 2.5%, closing the day at $33.69 an ounce.
In a note to its clients, German bank, Commerbank, wrote “There is additional scope for correction” in precious metals as managers who had flocked to gold earlier leave the trade, but the correction is likely to be temporary”.

Meanwhile,

Thousands of Layoffs On the cards, as Yahoo Plans Major Restructuring (YHOO)

Yahoo’s (NASDAQ: YHOO) CEO, Scott Thompson, who took over the reins just two months ago, is expected to announce  some major turnaround plans for struggling internet company.

According to the technology blog, All Things D, the restructure plan might also include thousands of layoffs.
The move to downsize the workforce could be well announced any time soon, probably early in this month. The ailing internet company recently hired the Boston Consulting Group to focus on the cuts to its products group. Cuts may also include departments like research, marketing and public relations and other areas that Thompson does not regard as essential to the Company. At the end of 2011, Yahoo had 14, 100 employees.

In an email statement, Yahoo said “As we have indicated, our leadership is engaged in a process that will generate significant strategic change at Yahoo, but final decisions have not yet been made at this point. Beyond that, we will not comment”.

Meanwhile,
commenting over the layoffs, BGC partner analyst, Colin Gillis said that the widespread talks of layoffs at Yahoo, which has been attempting a turnaround for some while now, has demoralized staff and led to departures of key talent.

Earlier, during his first quarterly earnings call with analysts, Thompson signaled his intensions by saying that said he would focus on striking the right balance between the needs of users and advertisers, media and technology, thoughtfulness and speed, investment in those products that generate revenue for Yahoo today and the ones it’s banking will generate revenue in the future.

Read more at : http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/thousands-of-layoffs-on-the-cards-as-yahoo-plans-major-restructuring-yhoo/22175

United Airlines Service Affected due to Technical Glitches (UAL)

United Airlines struggled with service problems including flight delays, faulty kiosks and jammed phone lines this weekend as it tried to sort out technical glitches during its combination of the United and Continental Airlines reservation systems.

On Saturday, the airline adopted the reservation platform of the former Continental Airlines after the companies merged to form the world’s largest carrier, now called as United Airlines. The airline is owned by United Continental Holdings Inc (NYSE: UAL).

However, in spite spending months preparing for the change which included training for about 15,000 employees on the new software — United revealed on Sunday that technical issues had flared up at airports across the system, resulting delays.

Spokeswoman Megan McCarthy said
 the airline faced problem particularly with check-in kiosks. As a result, passengers had to line up for the service agents, instead.

“We did have some issues with our kiosks and at times that slowed the check-in process,” added McCarthy. Nonetheless, he also said that the airline’s performance had improved by Sunday afternoon.

Read more at : http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/united-airlines-service-affected-due-to-technical-glitches-ual/22176

U.K. Home Prices Fall 0.5% on Economy Concerns

U.K. house prices fell in February for a third month in four, as economic uncertainty weighed on demand for housing, Halifax said.

Prices (UKHB3MYR) dropped 0.5 percent from January to an average 160,118 pounds ($253,400), the mortgage unit of Lloyds Banking Group Plc (LLOY) said in a statement in London today. From a year earlier, values were down 1.6 percent.

While inflation is cooling, a recovery in consumer confidence is being kept in check by rising unemployment and concern about the impact of Europe’s debt crisis on Britain’s economy. Still, surveys this month indicate that the U.K. economy (UKGRABIQ) returned to growth in the first quarter after a 0.2 percent contraction in the last three months of 2011.

Recent economic statistics

AIA Shares Decline After $6 Billion AIG Sale

AIA Group Ltd. (1299), the third-largest Asia-based insurer by market value, fell the most in more than five months after American International Group Inc. (AIG) sold $6 billion worth of its shares to help repay a government bailout.

AIA declined 8.4 percent to HK$26.75, the most since Sept. 22 and outstripping the 2.2 percent fall in the city’s benchmark Hang Seng Index. New York-based AIG sold 1.72 billion shares of the Hong Kong-based insurer at HK$27.15 each to institutional investors yesterday and ceased to be AIA’s controlling shareholder, AIA said in an e-mailed statement today.


The sale reduces uncertainty about when and how AIG will exit its remaining holdings of the Asian insurer after it sold a majority stake via its initial public offering in October 2010 to help repay the $182.3 billion bailout. The shares declined today after the sale was priced at the lower end of a target range and 7 percent below AIA’s closing price on March 2.

“AIG’s stake in AIA has been an overhang since the day when AIA went public, given its enormous size,” said Wang Lei, who helps manage about $40 billion of assets as co-fund manager of Thornburg International Value Fund in Santa Fe, New Mexico.

The AIA stock, offered at HK$27.15 to HK$27.50, was the largest share sale globally excluding rights issues this year, according to data compiled by Bloomberg. Companies and their shareholders raised more than $58 billion from initial public offerings and secondary share offerings globally this year, according to the data.

Read more at : http://www.bloomberg.com/news/2012-03-06/aia-shares-decline-after-6-billion-aig-sale.html

Sweden to Raise Borrowing as Recession Looms

Sweden raised its estimate for the government’s borrowing need in 2012 as the largest Nordic economy struggles to avert a recession amid growing unemployment.

The National Debt Office increased its estimate for sales of nominal bonds this year to 50 billion kronor ($7.5 billion) from the 35 billion kronor predicted in October, according to a statement published today in Stockholm. The agency also said it expects to issue 53 billion kronor in nominal bonds in 2013, 20 billion kronor more than estimated in October.

European Stocks Decline on Economic Concerns

European (SXXP) stocks fell before a report that may confirm a contraction in the euro-area economy and as investors weighed Greece’s chances of avoiding default by getting private creditors to accept a debt swap. U.S. index futures and Asian shares also dropped.

PSA Peugeot Citroen tumbled 6.1 percent after announcing plans to raise 1 billion euros ($1.32 billion) in a rights offer and saying it won’t pay a dividend for 2011. Cable & Wireless Worldwide Plc (CW/) retreated 6.6 percent after a newspaper report speculating that a potential bidder won’t make an offer for the company. Nyrstar NV, the largest producer of refined zinc, paced commodity shares lower.

Sensex falls 200 pts; SP set to form UP govt

The market extended its fall in late trade as the Samajwadi Party has crossed the half-way mark in the 2012 Uttar Pradesh Assembly Elections and looks all set to form the next government in the state without support from Congress or any other party.

UP Polls: Mulayam set to be CM as SP reaches majority

The Samajwadi Party has crossed the half-way mark in the 2012 Uttar Pradesh Assembly Elections and looks all set to form the next government in the state. While the party has already won 31 seats, it is leading in 183 other seats, taking the total number to 214 as per the tally at around 2.40 pm.

Confident of the victory, party's star campaigner Akhilesh Yadav has thanked the people of Uttar Pradesh and has assured that they would improve the law and order in the state.

He has said that the "credit for the victory goes to the hard work by leaders and workers".

The Samajwadi Party leader has also said that Mulayam Singh Yadav will be the Chief Minister of Uttar Pradesh.

Mulayam Singh, meanwhile, has given the credit for the win to Akhilesh Yadav and the people of the state, saying, "Akhilesh's hard work has shown results.

 

Read more at :

http://www.moneycontrol.com/news/politics/up-polls-mulayam-set-to-be-cm-as-sp-reaches-majority_677068.html

Brent crude holds above $123, oil creeps toward top of Asia's worry list

Brent crude held above $123 in volatile trade on Tuesday which saw prices fall on worries about demand from slowing economies in China and Europe, but fears of a disruption in Iranian supplies held up the market.

Investors are worried that oil consumption will suffer as the euro zone maybe facing its second recession in three years, and that demand from China may be hit by a cut in its 2012 growth target to an eight-year low of 7.5 per cent.

 

Read more ....

http://economictimes.indiatimes.com/markets/commodities/brent-crude-holds-above-123-oil-creeps-toward-top-of-asias-worry-list/articleshow/12160040.cms

INDIA: SJVN : BUY

INDIA: SJVN : BUY
BSE: 533206 | NSE: SJVN
CMP : INR 19.35 , SL : INR 18.0 , TGT : 22.0

TARGET IN 3 WEEKS.

 

Just for the benefit of the forum, i take the quantiy for INR 5000  as investement for any of the calls.

 

INDIA: Jaiprakash Associates : SELL (Futures)

INDIA: Jaiprakash Associates : SELL (Futures)
BSE: 532532 | NSE: JPASSOCIAT
CMP : INR 69.2, SL : INR 71 , TGT : 67
TARGET IN 1 WEEK.

INDIA: UNTIECH : BUY

INDIA: UNTIECH : BUY
BSE: 507878 | NSE: UNITECH
CMP : INR 30.35 , SL : INR 28.0 , TGT : 33.0

As new Apple iPad debut nears, some see decline of PCs

The chief executive of Apple, Timothy D. Cook, has a prediction: The day will come when tablet devices like the Apple iPad outsell traditional personal computers.

His forecast has backing from a growing number of analysts and veteran technology industry executives, who contend that the torrid growth rates of the iPad, combined with tablet competition from the likes of Amazon.com and Microsoft, make a changing of the guard a question of when, not if.

Tablet sales are likely to get another jolt this week when Apple introduces its newest version of the iPad, which is expected to have a higher resolution screen. With past iterations of the iPad and iPhone, Apple has made an art of refining the devices with better screens, faster processors and speedier network connections, as well as other bells and whistles - steadily broadening their audiences.

For more ....http://economictimes.indiatimes.com/tech/hardware/as-new-apple-ipad-debut-nears-some-see-decline-of-pcs/articleshow/12157249.cms

INDIA: DELTA CORP. : BUY

INDIA: DELTA CORP. : BUY
BSE: 532848 | NSE: DELTACORP
CMP : INR 74.75 , SL : INR 70.0 , TGT : 85.5
Target in 2 weeks.

Flash sale portals offer heavy discounts, what is the truth behind it

Call them flash sales, secret sales or private sales, they all mean one thing: deals that promise heavy discounts for a limited period of time. A concept that is extremely popular abroad, online flash sales have now found their way into India. But how is an online flash sale different from a store sale that luxury brands and designers often hold? Vehbi Sinan Tunalioglu, CEO, Brandmile.com, an Indian flash sale portal, explains the difference: "While both processes help suppliers liquidate their excess inventory, our main difference (when compared with brick and mortar stores) is the reach that we provide as our customers can buy the merchandise from any part of the country."

But are these 'super-saver deals' as great as the online sellers make them sound? Let's take a look at what lies beneath.

Find out more on ... http://economictimes.indiatimes.com/tech/internet/The-truth-behind-online-flash-sales/articleshow/12119888.cms

Slim Beats Gates in Global Daily Ranking of Billionaires

Carlos Slim, the telecommunications tycoon who controls Mexico’s America Movil SAB (AMXL), is the richest person on Earth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 20 wealthiest individuals.

The 72-year-old’s net worth fell $478.4 million in a day to $68.5 billion as of the close of markets on March 2, as U.S. moguls Bill Gates and Warren Buffett placed second and third on the list compiled by Bloomberg News. Brazil’s Eike Batista, who ranks 10th, still covets the top spot after vowing a year ago that he’d become the world’s wealthiest man by 2015.

http://www.bloomberg.com/news/2012-03-05/slim-beats-gates-in-global-daily-ranking-of-billionaires.html

Asian Stocks Decline on Economic Concerns

Asian stocks fell for a second day, led by raw-material producers, and the yen strengthened on concern global economic growth is slowing. Australia’s bond risk rose to a two-week high.

http://www.bloomberg.com/news/2012-03-06/oil-gains-for-second-day-on-iran-tension-concerns-australian-stocks-drop.html

Nifty above 5300; Is mkt still hoping for a SP-Cong pact?

As Congress faces rout in Uttar Pradesh, Punjab and Uttarakhand, the market has started putting on a show by recouping losses and getting back above the 5300 level. The market's behaviour has perplexed experts who analyse that possibly it is still expecting a SP-Congress alliance in UP.

For more ...
http://www.moneycontrol.com/news/local-markets/nifty-above-5300-is-mkt-still-hoping-forsp-cong-pact_676921.html

USA : Patriot Coal Corp. : BUY

USA : Patriot Coal Corp. : BUY
NYSE:PCX
CMP : $ 6.28 , SL : $ 5.97 , TGT : $ 6.6
Target in 1 week.

USA : Cellcom Israel : BUY

USA : Cellcom Israel : BUY
NYSE: CEL
CMP : $ 13.18 , SL : $ 13.00 , TGT : $ 13.80.00
Target in 1 week.

USA : Dynegy Inc. : BUY

USA : Dynegy Inc. : BUY
NYSE:DYN
CMP : $ 1.37 , SL : $ 1.0 , TGT : $ 2.00
Target in 4 weeks.

INDIA : Indosolar : BUY

INDIA : Indosolar : BUY
BSE: 533257 | NSE: INDOSOLAR

CMP : 5.85 , SL : 4.40 , TGT : 6.50
Target in 4 weeks.

INDIA : Alok Industries : BUY

INDIA : Alok Industries : BUY
BSE: 521070 | NSE: ALOKTEXT
CMP : 20.95 , SL : 18.00 , TGT : 23
Target in 3 weeks.

China Reduces GDP Target to 7.5% as Wen Seeks Sustainable Growth: Economy

China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005, a signal that leaders are determined to cut reliance on exports and capital spending in favor of consumption.

http://www.bloomberg.com/news/2012-03-04/china-targets-7-5-growth-this-year-as-european-debt-crisis-slows-exports.html

Sensex ends over 250 points down

The National Stock Exchange's Nifty ended below psychological support level of 5300 as traders offloaded long positions ahead of the outcome of Uttar Pradesh assembly elections. Weak cues from European markets also added to the woes.

http://economictimes.indiatimes.com/markets/stocks/market-news/sensex-ends-over-250-points-down-as-traders-offload-long-positions/articleshow/12146706.cms

Crude Oil Declines in New York After China Lowers Economic Growth Target

Oil declined in New York, extending last week's loss amid concern of slowing consumption in China after the country lowered its growth goal.
Futures dropped as much as 1.1 percent after earlier rebounding from the first weekly loss in four. China, the world's second-largest oil user, will aim for economic growth of 7.5 percent this year, the lowest goal since 2004, Premier Wen Jiabao said today. Israeli Prime Minister Benjamin Netanyahu and U.S. President Barack Obama will meet today to discuss confronting Iran's nuclear program, even as Obama asked Israel to help tone down "too much loose talk of war."

http://www.bloomberg.com/news/2012-03-04/west-texas-intermediate-crude-oil-opens-little-changed-in-new-york-trading.html

Sliver : Book Profit @ 59150

As per expectations, Silver has moved down to hover arund 59150 mark. Book profits and exit.

Approx. Profit: Sliver MCX 5Kg Lot : 700 points X 5 = INR 3500 .

:)

1st Blog Gift

I have been day trading for quite sometime now and have been able to ensure that "cancer sticks" are being payed not from my pocket :)

Decided to start the blog to share how i have been able to do it . I have made some , so can you.

So here it goes ...

Rules of engagement :

Before i share them, this is my personal opinion of how i deal with stocks . Take it or leave it but please do not hold me responsible if you loose money because what i will share with you is what i have already done.

1. Hold the drink : Rome was not built in a day and so is the money . Most of the strategies are for gains over a period of 1-2 weeks . Some of them makes you hold the stocks/futures or options for longer period like 3-4 weeks (this happens rarely).

2. Limit your loss : Neither me nor my dad has a money plant in our backyard so ensure that head rules over heart. If a certain trade is on lossing trend, i book loss and wait for the next trigger points.

************************************
Tip of the day :

Instrument : Derivatives
Commodity: Silver MCX
Call : Short at 59887. Stop Loss : 61000, Book Profit at : 59000