GIC HSG weekly breakout

GICHOUSING http://www.gichfindia.com 
Regular Dividend Paying Stock
- Face value Rs.10 Book Value-71.9 Trailing EPS=12.5 and P/E is 8.4 times
The board of GIC Housing Finance in its meeting on 10 May 2010 has recommended dividend at the rate of Rs. 4.50 per share (45%) for the year 2009-10. With 45% Dividend  4.4% is the Dividend Yield .....GIC HSG holds stakes in a few PSU entity.
Technically the stock is near a weekly breakout and it would be a major move ahead above Rs 108 as the stock would move into new All Time Highs and the stock that moves high moves higher is what Technical Analysis says. Target can be Rs 150 and above in 12-15 months.

TATASTEEL breakdown

TATASTEEL looks to have completed its upward correction and ripe for fall once again if Rs.510 is not crossed this week. Once it breaks down lower target can be Rs. 450/433 soon.

POSCO to lower stainless steel prices for July

SEOUL, June 28 (Reuters) - South Korea's POSCO , the world's No.4 steelmaker, said in a statement on Monday that it would lower prices of major stainless steel products by 300,000 won ($246.9) per tonne for July to narrow the price gap with imports. From next month, POSCO's hot-rolled stainless steel products would be priced to 3.35 million won per tonne from 3.65 million won, and cold-rolled product prices at 3.62 million won from 3.92 million won, an official at the country's top steelmaker said.

Weak Gulf steel demand may lead to oversupply-trade

DUBAI, June 28 (Reuters) - Weak steel demand in the Gulf region might lead to oversupply in the market forcing prices to fall further in the coming weeks, steel traders said on Monday. Construction had slowed down in the Gulf over the past year as economic crisis set back many of the major projects in the region, curbing appetite for steel.

http://events.cbichina.com/con/ISOIS2010/index.html  2010 China Iron & Steel Overseas Investment Summit

BIOCON going towards all time high

BIOCON at Rs. 330 has made nearly 3-year high and now it is a major breakout. Its All Time High is Rs. 390 which was achieved in April 2004 and now after 6 years 2 months that looks to be broken very soon.

Fabulous-15 Update

FABULOUS-15 has recovered sharply and EGoM Decision on freeing petrol and raising Diesel, LPG and Kerosene prices has made many stocks and overall market move higher. MRPL has cut most of its losses and EKC, EMCO, GUJ NRE COKE, FSL show promising formations. GIC HSG is the best Dividend Yield stock in our list and it has started outperforming now.

FABULOUS-15 TRACKER (Prices in Rs)
Stock Name	Reco Price	CMP	Target	% Weight	% Returns	Action
3IINFOTECH	87	62	118	2	-29	Hold
ADHUNIK MET	110	108	152	2	-2	Hold
EKC	156	138	189	2	-12	Hold
EMCO	91	84	130	2	-8	Hold
GIC HOUSING	92	103	150	2	12	Hold
GLENMARK	278	278	350	2	0	Hold
GSPL	98	100	125	2	2	Hold
GUJ NRE COKE	72	65	110	2	-10	Hold
IFCI	54	54	75	2	0	Hold
MRPL	78	75	100	2	-4	Hold
NEYVELILIG	152	157	196	2	3	Hold
POWERGRID	109	103	141	2	-6	Hold
SUZLON	75	58	140	4	-22	Hold
JUBILANT	325	349	450	2	7	Hold
FSL	30	29	38	2	-3	Hold
GREAVES COT	286	338	352	2	18	BP
SKUMAR	41	49	70	2	20	BP
ABG SHIP	210	270	270	2	29	BP
Total				32	-0.51

GSPL is near a major breakout and above Rs. 103 it can reach our target of Rs. 125 very soon

• Be just 32% invested and don't do averaging for the sake of that.
• Don't average if 30% dip is not seen after your purchase, averaging should be considered time-wise also.
• At least 2-3 months must pass before you buy again in a dip.
• As we hold a view that Sensex below 13000 in 2010 can be possible so avoid aggressively and leveraged positions.
• This market is a bear market which can cut both ways, it is always difficult to mint money in such market and it is better to be an investor and accumulate.
• Being correct in market is difficult so we have invested 32% so that in case of market rally we don't miss the opportunities.

3Stocks added in Derivative Positive

ABGSHIP, ORBITCORP & CORE added in F&O is positive in medium term  http://www.nseindia.com/content/circulars/faop15041.pdf  

Symbol Name of the Security

1 ABGSHIP ABG SHIPYARD LIMITED

2 COREPROTEC CORE PROJECTS & TECHNOLOGIES LIMTED


3 ORBITCORP ORBIT CORPORATION LIMITED

Banks would face tougher curbs on trading but would be able to hold limited hedge fund positions under a proposal unveiled by Senate Democrats as they closed in on a final overhaul of U.S. financial regulations. http://in.reuters.com/article/idINIndia-49613420100625  http://www.thehindubusinessline.com/2010/06/25/stories/2010062552841001.htm  Bearish trend likely to continue in iron ore stocks

ING sold its entire stake of over 3% in Kotak Mahindra Bank in a bulk deal on the National Stock Exchange for Rs 801.3 crore. ING Bank NV's Singapore branch, which held this stake in Kotak Bank, sold 1,06,75,028 shares for an average price of Rs 750.7 a share.

http://twitter.com/AKprabhakar  APIL Value buy given few days back http://twitter.com/AKprabhakar/status/16675536729  

GUJ NRE COKE - Very good buy

GUJ.NRE.COKE Cmp Rs.64, Indian company with coking coal mines in Australia having more than 560 million tons of Metallurgical Coal resource with excellent coking properties would see good move.

Australian Prime Minister Kevin Rudd ’s resignation over his proposed tax on mining, GUJ.NRE.COKE will benefit most as this Company major operation is in Australia and this stock corrected after news of Super Tax on miners hit the stock which corrected from high of Rs.93.

http://www.business-standard.com/india/news/maoist-threat-hampering-coal-output-minister/98976/on  The threat of Maoist attacks is hampering coal mining in several states, keeping production lower than the demand from growing industries, Coal Minister Sriprakash Jaiswal said on Wednesday. "If law and order situation is improved, coal production can rise by at least 25 per cent," Jaiswal told reporters.

Buy FINTECH - Owner of Exchanges

News & Impact:   Multi Commodity Exchange Gets IPO Approval, Exempted From Stake-Sale Rule, This can be positive if this exchange gets listed 

FINANCIAL TECHNOLOGIES Rs.1351 has made higher low and stock trades above short term moving average indicating a pull back in the stock in near term and stock is moving in a channel where,  holding Rs.1300 levels, a target of Rs.1430-1460 and even more can be possible.

Multi Commodity Exchange Gets IPO Approval, Exempted From Stake-Sale Rule  http://www.bloomberg.com/news/2010-06-23/multi-commodity-exchange-gets-ipo-approval-exempted-from-stake-sale-rule.html

MCX, as the exchange is known, scrapped plans for a share sale in August 2008 after the stock market slumped. The exchange is promoted by Financial Technologies (India) Ltd.  and Fidelity International Ltd., NYSE Euronext and Bank of America Merrill Lynch are among holders in the bourse.

http://hindi.economictimes.indiatimes.com/articleshow/6045718.cms  ए के प्रभाकर, स्वतन्त्र टेक्निकल एनालिस्ट