Trading Tips - koolfriend4u
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Japan's economy - koolfriend4u
Japan's economy grew by 0.9% in the April-June quarter from the previous quarter on the back of improved exports and an increase in private spending. That was slightly short of a median forecast of a 1% growth. Japan's economy grew 3.7% on an annualized basis in the quarter ended June following a revised annualized contraction of 11.7% in the previous quarter. This was the fastest annualised expansion in GDP since January-March 2008. External demand contributed 1.6% to April-June GDP growth in Japan, as exports turned up. Private spending rose 0.8%, boosted by Japanese government stimulus steps. Business spending dropped 4.3%, down for the fifth consecutive quarter as companies delayed expenditures on new plants and equipment. Japan's economy expanded for the first time in five quarters, following a revised 3.1% contraction in the January-March period and a 3.5% decrease in the final quarter of 2008 - the biggest drop on record. Japan joined France and Germany as the third G7 nation to come out of recession caused by the global credit crisis. Japan's second quarter growth compared with a 0.3% contraction in the US in the same quarter. The euro zone economy shrank 0.1% after a 2.5% fall in the first three months.
Japan's economy grew by 0.9% in the April-June quarter from the previous quarter on the back of improved exports and an increase in private spending. That was slightly short of a median forecast of a 1% growth. Japan's economy grew 3.7% on an annualized basis in the quarter ended June following a revised annualized contraction of 11.7% in the previous quarter. This was the fastest annualised expansion in GDP since January-March 2008. External demand contributed 1.6% to April-June GDP growth in Japan, as exports turned up. Private spending rose 0.8%, boosted by Japanese government stimulus steps. Business spending dropped 4.3%, down for the fifth consecutive quarter as companies delayed expenditures on new plants and equipment. Japan's economy expanded for the first time in five quarters, following a revised 3.1% contraction in the January-March period and a 3.5% decrease in the final quarter of 2008 - the biggest drop on record. Japan joined France and Germany as the third G7 nation to come out of recession caused by the global credit crisis. Japan's second quarter growth compared with a 0.3% contraction in the US in the same quarter. The euro zone economy shrank 0.1% after a 2.5% fall in the first three months.
Finance Minister Pranab Mukherjee said that the monsoon situation in the country is difficult and that 246 districts have been badly affected by drought. He was addressing a gathering of state agriculture ministers in New Delhi. Mukherjee also said that the country needs a contingency plan to tackle the deficient rains. The Government has 5 million tons of strategic food reserves, the Finance Minister told state agriculture ministers. This includes 3 million tons of wheat and 2 million tons of rice, he said. The Government will announce imports as and when the need arises, Mukherjee said, adding that the Centre could import pulses and oilseeds.
Meanwhile, Union Agriculture Minister Sharad Pawar said that the poor southwest monsoon this year has created a critical situation for rural livelihood, drinking water and crops. The Government expects early sowing of Rabi (winter) crops over a larger area this year to offset some of the crop loss during the Kharif (summer) crop season, Pawar said. The situation in the agriculture sector remains disturbing, he told the conference of state farm ministers.
Effective enforcement actions and other steps would be taken to ensure that the prices of commodities do not rise abnormally, Pawar said, adding that authorities need to help farmers plant alternative crops, and provide food, fodder, drinking water and employment to people. "At this critical stage we need to assess the current situation correctly," the Agriculture Minister said. Efficient use of irrigation and judicious use of ground water and reservoirs was necessary, he added.
The southwest monsoon revived in the week ended August 19, a top official at the Indian Meteorological Department (IMD) was quoted as saying on Thursday. Showers were about 2% below average in the week ended Aug. 19 compared with 56% in the previous week, said S. Kaur, Director at the IMD in New Delhi. The deficit in the season that started on June 1 narrowed to 26% from 29%, she said.
Meanwhile, Union Agriculture Minister Sharad Pawar said that the poor southwest monsoon this year has created a critical situation for rural livelihood, drinking water and crops. The Government expects early sowing of Rabi (winter) crops over a larger area this year to offset some of the crop loss during the Kharif (summer) crop season, Pawar said. The situation in the agriculture sector remains disturbing, he told the conference of state farm ministers.
Effective enforcement actions and other steps would be taken to ensure that the prices of commodities do not rise abnormally, Pawar said, adding that authorities need to help farmers plant alternative crops, and provide food, fodder, drinking water and employment to people. "At this critical stage we need to assess the current situation correctly," the Agriculture Minister said. Efficient use of irrigation and judicious use of ground water and reservoirs was necessary, he added.
The southwest monsoon revived in the week ended August 19, a top official at the Indian Meteorological Department (IMD) was quoted as saying on Thursday. Showers were about 2% below average in the week ended Aug. 19 compared with 56% in the previous week, said S. Kaur, Director at the IMD in New Delhi. The deficit in the season that started on June 1 narrowed to 26% from 29%, she said.
Cipla - koolfriend4u
Cipla
We recommend a sell in Cipla from a short-term perspective. It is evident from the charts that the stock has been on an intermediate-term uptrend since October low of Rs 146. This uptrend accelerated in June 2009 and the stock was on medium-term uptrend till the August high of Rs 295. However, encountering significant long-term resistance around Rs 290, the stock changed its trend. This reversal is also supported by the negative divergence in the daily moving average convergence and divergence indicator. On August 17, the stock plunged almost 6 per cent penetrating the medium-term up trendline, accompanied with good volume. Subsequently, it breached its 50-day moving average and is trading well below this average. The daily relative strength index (RSI) has entered into the bearish zone and the weekly RSI has entered into the neutral region from the bullish zone. Our short-term outlook is bearish on the stock. We expect the stock to trend southward until it hits our price target of Rs 232 in the approaching trading sessions. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 271.
via BL
Cipla
We recommend a sell in Cipla from a short-term perspective. It is evident from the charts that the stock has been on an intermediate-term uptrend since October low of Rs 146. This uptrend accelerated in June 2009 and the stock was on medium-term uptrend till the August high of Rs 295. However, encountering significant long-term resistance around Rs 290, the stock changed its trend. This reversal is also supported by the negative divergence in the daily moving average convergence and divergence indicator. On August 17, the stock plunged almost 6 per cent penetrating the medium-term up trendline, accompanied with good volume. Subsequently, it breached its 50-day moving average and is trading well below this average. The daily relative strength index (RSI) has entered into the bearish zone and the weekly RSI has entered into the neutral region from the bullish zone. Our short-term outlook is bearish on the stock. We expect the stock to trend southward until it hits our price target of Rs 232 in the approaching trading sessions. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 271.
via BL
Shares of Glenmark lost over 14% to Rs223 after Forest Laboratories, Inc. and Glenmark Pharmaceuticals SA Switzerland said Once-daily treatment with Oglemilast did not show a statistically meaningful increase from baseline compared to placebo in the primary endpoint trough FEV1, a measure of pulmonary function that is decreased in patients with COPD.
BK Garodia, Managing Director of Barak Valley Cement, said that cement demand in the North-East region remained robust and that there was a 10–12% volume growth in the Northern belt.
Garodia said the company was looking to increase capacity and acquire mines. He said the company’s net realisations were at Rs 4,200 per tonne. The company was not looking to raise funds as cash flows are strong, he added.
Garodia said the company was looking to increase capacity and acquire mines. He said the company’s net realisations were at Rs 4,200 per tonne. The company was not looking to raise funds as cash flows are strong, he added.
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