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M&M

Below 633

623

638

Intraday

Stock Market Update

Sensex 16070.48 (40.39) Up

Nifty 4870.20 (11.95 ) Up

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REFEX REFRIGERANTS technical research report by Buzzingstreet.com

COMPANY NAME- REFEX REFRIGERANTS 22-DEC-2010

RECOMMENDATION- ACCUMULATETARGET – 50

COMPANY BASIC INFORMATION

ISIN Id	INE056I01017
BSE Id	532884
NSE Id	REFEX
INDUSTRY	CHEMICALS
Market Cap	58.11
Book Value	27.75
Price/Book	1.35
Face Value	10.00
Div(%)	0.00%
Industry P/E	28.69

STOCK PRICE HISTORY( NSE)
All Time High	51.75
All Time Low	21.05
52 Week High	51.75
52 Week Low	21.05

Recommendation-The stock remained in a range of 20-30 for around one year after listing and thereafter gave a sharp breakout all the way to 50 levels with very strong volumes, in late October this year. The stock however has corrected sharply from those levels and retraced up to 2/3^rd of all its gains in the previous rally but on relatively very thin volumes. Currently the stock is once again showing some buying action near its support zone. The RSI has also started to rise from extreme oversold levels. We expect the stock to find support around current levels and therefore recommend an Accumulate in the stock around 30-32 levels with a stop below 27 for a short to medium term minimum target of 50.

Corporate News
Articles
Market Research

Oil firms block 3.8 mn LPG connections
Piramal Health buys US data firm for $635 mn
Rupee gains at 54.30/dollar as risk assets stabilise
Uranium supply to India to be demand based: Australia
Escorts announce launch of executive tractor
Rupee hits record low on markets, risk aversion
Nifty ends near 4,900; FMCG, realty, metals up

Company	Price Rs.	Change[%]
Ambuja Cements	149.15	4.16%
SAIL	87.80	3.78%
ITC	234.75	3.28%
Jaiprakash Asso	62.25	2.72%
Jindal Steel	462.95	2.71%

Company	Price Rs.	Change[%]
Larsen	1,163.55	-3.51%
Reliance Infra	437.55	-3.21%
Mah and Mah	636.65	-3.02%
Bajaj Auto	1,575.35	-2.42%
Cipla	314.00	-2.42%

Company	Price Rs.	Change[%]
ITC	235.20	3.14%
Jindal Steel	462.00	2.30%
HDFC	632.80	1.88%
DLF	184.85	1.82%
Reliance	685.10	1.32%

Company	Price Rs.	Change[%]
Larsen	1,163.35	-3.51%
Mah and Mah	636.15	-3.12%
Bajaj Auto	1,574.35	-2.61%
Cipla	313.90	-2.53%
Tata Power	91.05	-1.51%

Stock Commentry

Topic :- Buzz@ 3:10

Nifty index if manages to close above 4880-4900 only then some sharp recovery can follow in the market and if it closes below above mentioned level then this sluggish movement will continue for some more days still there is nothing to worry just trade as per market trend and be stock specific.

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Topic :- Buzz@ 2:10

The market has made smart recovery and has now moved into the green. Nifty index if manages to trade and sustain above 4880 then some more recovery can be seen in the market till 4910 level and if it breaks and trade below 4850 then some profit booking can follow in the Nifty.

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Topic :- Buzz@ 1:35

Nifty index if manages to trade and sustain above 4860 then some more recovery can be seen in the market and if it breaks and trade below 4840 then further some profit booking can follow in the Nifty.

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Topic :- Buzz@ 1:05

Europe has opened in the red and is trading lower while Asia closed with deep cuts. The Indian market has pulled back smartly from the day's lows and the Sensex is now above the 16000 mark, trading at 16003, down 67 points from its previous close, and Nifty is at 4849, down 20 points. 

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Topic :- Buzz@ 12:40

Result Update::
SBI Q4 PAT at Rs. 40.50bn:
The State Bank of India (SBI) has reported standalone profit after tax (PAT) of Rs. 40.50bn for Q4 FY12.
This appears to be higher than consensus estimate and therefore the stock has reacted positively to the prima facie PAT number. The Net Interest Income (NII) for the reporting quarter stood at Rs. 117.04bn.
The Gross NPA in Q4 FY12 stood at 4.44% vs 4.61% QoQ.



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Topic :- Buzz@ 12:05

Downtrend persists in the market though it has pulled back from the lows of the day. Nifty index if manages to trade and sustain above 4820 then some more recovery expected. Else it breaks and trade below 4802 then again some profit booking seen in the market.

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Topic :- Buzz@ 11:10

Nifty is still reeling under pressure and all sectoral indices are trading in the red. Auto, capital goods, Metal and CD are the biggest losers at this hour. The Sensex is trading at 15828, down 240 points from its previous close, and the Nifty is at 4795, down 75 points.

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Topic :- Buzz@ 10:00

After a gap down opening Nifty is looking week and  still trading in red zone. Nifty index if manages to trade and sustain above 4820 then we can see some  recovery expected in the market. On the other side if Nifty index breaks and trade below  4805-4800 then more some profit booking can follow in the market. 



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Topic :- Opening Buzz

Nifty index Support 4840-4780 and Resistance 4920-4960.

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