MARKET OUTLOOK
It was completely a lack lusture day. Finally Nifty closed 4 points up from its previous day's close. Again
Nifty has formed a Doji. For the last two days Nifty has formed two doji pattern. So one may expect some
kind of strong movement on eitherside.On downside, Nifty has strong support around 5230-5240 and then at
5180 which is its breakout level. On upside, above 5310, it may touch 5400-5430 level. Sectorwise, Realty,
Banking and Pharmas are looking good. For THURSDAY, support exists at 5230 and then at 5180. On
upside, resistance exists at 5310 and then at 5360.
Corporate Highlights
• Pidilite to consider bonus issue on Jan 28
• BMW have nominated the Steel Strips Wheels for the supply of spare wheel for its prestigious MINI
model. The annual quantity of the wheels to be supplied is 48,000 per annum and the company will
supply the same from its Chennai plant.
• PSL has bagged orders worth Rs 425 crore. The company's domestic order book stands at Rs 2000-2200
crore level. Consolidated order book is at Rs 3000 crore level.
• Larsen & Toubro's Buildings & Factories Operating Company- part of its construction division- has
bagged new orders aggregating Rs 2325 crore during the third quarter of the year 2009-2010 for the
construction of residential towers, hospital, exhibition centre, IT Park and factory building projects.
• Sunil Hi Tech Engineers, one of the leading technology and EPC companies in the power and
infrastructure sector, has been awarded the Balance of Plant (BOP) contract for Mahagenco’s Parli TPS
Project Unit No. 8, 1 * 250 MW. The total value of the contract is Rs 487.82 crore.
• Mold-teck Technologies raised funds partly to fund acquisition and foray into mechanical engineering
services. The company expects Rs 100 crore turnover within the next 3 year's time.
• Wockhardt gets US FDA approval for Alzeimers drug, Memantine