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Monday, January 7, 2008

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Ashok Leyland vehicle sales up 8% in December

Ashok Leyland Ltd said on Monday that it sold 6,340 vehicles in December, up 8 per cent from 5,873 units a year earlier. It said domestic sales rose 2 per cent to 5,488 units from 5,396 units, while exports rose to 852 units from 477 units.

Advanta India acquires Unicorn Seeds

Seed marketing company Advanta India Ltd on Monday said it has acquired vegetable seeds business of Hyderabad-based Unicom Seeds Ltd for an undisclosed amount.

The acquisition would strengthen the company's position in the vegetable seed market and increase its product portfolio, Advanta India said in a communiqué to the Bombay Stock Exchange.

"We hope to leverage the strong brand equity of Unicom, excellent breeding programs and outstanding production capabilities to strengthen the leadership position in this market segment," Advanta India said.

Advanta India Ltd is a 100 per cent subsidiary of United Phosphorus Ltd. It deals with the research, development, production and marketing of hybrid seeds.

Unicom has a strong presence in the domestic and export markets of vegetable seeds and is also engaged in custom production for key vegetable seed suppliers in Europe, Asia and USA.

Marksans Pharma buys UK-based Hale Group

Marksans Pharma on Monday said it has acquired UK-based pharma company Hale Group for an undisclosed amount.

The UK-based subsidiary of the company, Marksans Pharma (UK) Ltd, has entered into a definitive agreement with Hale Group Ltd, the parent company of Bell, Sons and Co (Druggists) Ltd, to acquire the latter, Marksans said in a filing to the Bombay Stock E xchange.

Eicher Motors December sales up 2.7%

Commercial vehicle maker Eicher Motors on Monday reported a 2.7 per cent increase in its sales during December, 2007 at 2,233 units as against 2,174 units in the same month previous year.

Sales of the company's light commercial vehicles were up marginally to 1,775 units compared to 1,742 units in December 2006, Eicher Motors said in a statement.

Heavy commercial vehicle sales rose to 458 units in the said period as against 432 in the corresponding month last year.

In the April-December period, the company sold 19,686 units as against 17,700 units in the same period of previous fiscal, up 11.2 per cent year-on-year.

Sun TV Network hikes advt rates

Television Broadcaster Sun TV Network Ltd is increasing its advertisement rates with effect from February 1 this year, in Tamil channel by 10 % to 21 %, in Telugu Channel (Gemini TV) by 15 %, in Kannada Channel (Udaya TV) by 10 % to 20 %, in Mala yalam Channel (Surya TV) by 3 % to 13 %.

Two programmes of the company whose TRPs are extremely high, the hike in advertisement rates is over 30%. For other channels like Sun Music, Sun News, Gemini Music, Gemini News, Teja, Udaya Movies, Udaya Varthagalu, Udaya II, Kiran the increase in advert isement rates range from 10% to 25%.

Simultaneously, the slot fees (broadcast fees) received from the content producers is also increased proportionately effective February 15, 2008.

Suzlon Energy arm in Denmark bags order

Suzlon Energy Ltd has informed the BSE that the company through Suzlon Wind Energy A/S, Denmark, its step-down wholly owned subsidiary further consolidated its position in the Spanish wind energy market with an order for 42.5 MW of wind turbine c apacity.

The contract would be supplied through 22 units of Suzlon's S88 2.1 MW turbines.

Posted by Srivatsan at 7:53 AM

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Understanding Short Term Trading

Before I begin, this blog is not for intraday traders. My definition of short term implies duration of around 2 to 3 months.

Short Term stock picking is no rocket science, but rather a visual interpretation of technical charts. A basic moving average on a time frame chart will show the direction of the securities movement.

Moving averages is a mathematical results calculated by averaging a number of past data points. Moving averages (MA) in it's basic form is calculated by taking the arithmetic mean of a given set of values on a rolling window of timeframe. Once the value of MA has been calculated, they are plotted onto a chart and then connected to create a moving average line. Typical moving averages used for short term trading are 50 MA and 100 MA.

Types of Moving Averages

1) Simple Moving Average (SMA)

SMA is calculated by taking the arithmetic mean of a given set of values on a rolling window of timeframe. The usefulness of the SMA is limited because each point in the data series is weighted the same, regardless of where it occurs in the sequence. Critics argue that the most recent data is more significant than the older data and should have a greater influence on the final result.

2) Exponential Moving Average (EMA)

EMA overcomes the limits of SMA, where more weight is given to the recent prices in an attempt to make it more responsive to new information. When calculating the first point of the EMA, we may notice that there is no value available to use as the previous EMA. This small problem can be solved by starting the calculation with a simple moving average and continuing on with calculating the EMA.

The primary functions of a moving average is to identify trends and reversals, measure the strength of an asset's momentum and determine potential areas where an asset will find support or resistance. Moving averages are lagging indicator, which means they do not predict new trend, but confirm trends once they have been established.

A stock is deemed to be in an uptrend when the price is above a moving average and the average is sloping upward. Conversely, a trader will use a price below a downward sloping average to confirm a downtrend. Many traders will only consider holding a long position in an asset when the price is trading above a moving average.

In general, short-term momentum can be gauged by looking at moving averages that focus on time periods of 50 days or less. Looking at moving averages that are created with a period of 50 to 100 days is generally regarded as a good measure of medium-term momentum. Finally, any moving average that uses 100 days or more in the calculation can be used as a measure of long-term momentum.

Support, resistence and stoploss can be infered by referring the closet MA below or above the market price. The other factor that is used in short term momentum is the trading volume. The moving averages along with the trading volume can provide a better insight to short term movement.

Markets are moved by their largest participants - I believe this is the single most important principle in short-term trading. Accordingly, I track the presence of large traders by determining how much volume is in the market and how that compares to average. Because volume correlates very highly with volatility, the market's relative volume helps you determine the amount of movement likely at any given time frame--and it helps you handicap the odds of trending vs. remaining slow and range bound.