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profit.nifty: Gujarat NRE Coke will float a rights issue with differential voting rights (DVR) to ward off any takeover threat from companies seeking to secure coking coal assets. The decision to float a DVR rights issue was to raise voting rights of the promoters to ward off any takeover threat. After the rights issue, voting rights of the promoters, whose existing holdings stood at 41%, would go up to over 51%.
There are mixed flows on the FII desk and the buy-sell ratio is at 1:2.5, say dealers, No panic selling is seen yet, but the mood is cautious, they say. Dealers expect bottom fishing to take place at lower levels. Rate sensitives and metals continue to witness selling pressure.
profit.nifty: Adani Power is trying to rope in a cement manufacturer to ensure an environment friendly as well as economically-beneficial utilisation of fly ash to be generated by 4,620-MW Mundra thermal power plant whose first unit is due for commissioning in the first quarter of 2009. Initial estimates suggest that the plant will generate approximately one million tonnes of ash ever year once all its nine units become operational in 2011.
Tata Steel has strong support at Rs 450-430, says Ashwani Gujral, technical analyst, From here, one may see a trading rally to Rs 550-575, he says. But the long term for this stock depends on the global demand, he adds. It is currently trading at Rs 451.30, down 5% on the BSE.
The market has recovered from the day’s lows, but is still strading in the negatve. Sensex is at 12,793, down 469 points from the previous close. Nifty is at 3909, down 98 points. A number of bluechips are trading close to their 52-week lows. CNX Midcap index has lost 3.9% and BSE Smallcap index, 4.5% in trade so far. Market breadth is also dismal.
Gujarat NRE Coke seems to have come into the buying zone now, says Ashwani Gujral, technical analyst, The stock is currently trading at Rs 58.75, down 11.7% on the BSE.
SBI is showing good strength, but seems to be stuck in range, says Hemen Kapadia, technical analyst, It has support at Rs 1,406 and faces resistance at Rs 1,605-1,610, he says. But once it crosses the resistance level, it can surprise on the upside, he says. It is currently trading at Rs 1,527.60 on the BSE.
Stocks like ICICI Bank or Reliance Industries can give 30-40% upside easier than RNRL, says Ashwnai Gujral, technical analyst, So stay away from RNRL for now, he suggests. It is currently trading at Rs 72.35, down 6.2% on the BSE.
One should look to exit Indiabulls Financial Services at Rs 185-190, says Ashwani Gujral, technical analyst, It can even go up to Rs 224 if the market turns a little better, but it will face strong resistance here, he adds. It is currently trading at Rs 162.45, down over 14% on the BSE.
L&T can fall to Rs 2,100 one week down the line, if the market remains weak, says Hemen Kapadia, technical analyst, The stock is currently trading at Rs 2,410.95, down 3.6% on the BSE.
One can look at exiting PTC close to Rs 80-82, says Ashwani Gujral, technical analyst, For now, hold keeping a stoploss of Rs 57, he suggests. It is currently trading at Rs 65.50, down 4.2% on the BSE.
Tata Steel looks better than Jindal Steel for now, says Ashwani Gujral, technical analyst, Jindal Steel is currently trading at Rs 448.35, down 5.6% on the BSE.
The Asian markets have bad cuts. The European markets opened flat but are now trading down. The Indian market is off the day’s low led by banking stocks. Sensex is trading at 12793, down 469 points and Nifty is at 3960, down 47 points from the previous close. CNX Midcap index is down 2.7% and BSE Smallcap index is down 4.18%. BSE Realty is down 6.7%, BSE Metal index is down 4% and BSE Banking index is up 0.76%. The market breadth is negative with advances at 111 against declines of 1155 on the NSE.
Bank of Rajasthan will face resistance at Rs 85-88 and support at Rs 65, says E Mathew, technical analyst. The stock is currently trading at Rs 67, down 11.26% on the BSE.
The market has shown a recovery. Sensex is trading at 13157, down 105 points and Nifty is at 4000, down 7 points from the previous close.
In the power space, one can invest 60% of one’s portfolio in Reliance Power, 20% in Torrent Power and another 20% in PTC, says Rajesh Tambe of Sunchan Securities. These stocks can be held for the long term for good returns, he adds.
One can do bargain buying and accumulate Hexaware at Rs 30 for the long term, says E Mathew, technical analyst. The stock is currently trading at Rs 34, down 7.65% on the BSE.
Areva T&D has a target of Rs 1650, says Mukesh Kumar, technical analyst with IL&FS InvestSmart. Maintain a stop loss of Rs 1340, he adds. It is currently trading at Rs 1427, up 3.97% on the BSE.
ICICI Bank has shown a good pullback and now has a target of Rs 700-725, says Neeraj Arora of Investshoppe. Maintain a stop loss of Rs 526, he adds. It is currently trading at Rs 571, up 2.03% on the BSE
The market has shown some recovery. Sensex is trading at 13119, down 143 points and Nifty is at 3988, down 19 points from the previous close. CNX Midcap index is down 2.64% and BSE Smallcap index is down 3.34%. BSE Banking index is up 1.2%. The market breadth is negative with advances at 176 against declines of 1095 on the NSE.
Oriental Bank has a target of Rs 195-200, says Mukesh Kumar, technical analyst with IL&FS InvestSmart. The stock is a good buy at Rs 155 and maintain a stop loss of Rs 146, he adds. It is currently trading at Rs 170, up 1.16% on the BSE.
Noida Toll Bridge has a target of Rs 43-46, says Neeraj Arora of Investshoppe. Maintain a stop loss of Rs 34.50, he adds. It is currently trading at Rs 34.95, down 4.51% on the BSE
Power Grid has a target of Rs 105, says Mukesh Kumar, technical analyst with IL&FS InvestSmart. The stock is a good buy at Rs 85 and maintain a stop loss of Rs 77, he adds. It is currently trading at Rs 88, down 0.67% on the BSE.
The market has shown a tremendous recovery led by the banking stocks. Sensex is trading at 13284, up 21 points and Nifty is at 4031, up 23 points from the previous close. The BSE Bankex index is up 2.44%. ICICI Bank is up 2%, SBI up 3% and PNB up 4%.
Welspun Gujarat is showing weakness and could go down with a target of Rs 227, says Neeraj Arora of Investshoppe. Maintain a stop loss of Rs 255, he adds. It is currently trading at Rs 254, down 6.29% on the BSE.
Dishman Pharma is stuck in a range of Rs 295-325, it has resistance at Rs 325 after which it will show a fresh upmove, says Jatindar Sharma, technical analyst. The stock is currently trading at Rs 310, up 0.8% on the BSE.
US Fed sets up new swap lines with Bank of Japan, Bank of England and Bank of Canada and authorises $180 billion in temporary swap lines. The swap lines will help central banks to offer dollar funds. US Fed says BoE and ECB to take joint action to ease market tension.
The US Fed liquidity measures help global markets to recover. The Asian and European markets have shown a good recovery. The Indian market is also looking better. Sensex is trading at 13309, up 46 points and Nifty is at 4041, up 33 points from the previous close. CNX Midcap index is down 1.19% and BSE Smallcap index is down 2.52%. BSE Banking index is up 3%. The market breadth is negative with advances at 272 against declines of 1000 on the NSE.
The market is likely to be extremely choppy in a range of 12500-13900 for some time, says Deven Choksey of KR Choksey. The market may stabilise at lower levels and then recover, he says. Till the market breaches these levels in either direction it will be difficult to take any call, he adds. Only once it closes above 13900 decisively can one say that the bottom has been formed, he feels.
The Nifty looks oversold, so a pullback rally can be expected here, says Hardik Jain, technical analyst, It can go up to 4250 now, he says. Any correction should be an opportunity to enter the market, he adds.
Reliance Industries may go up till Rs 2,000, but it will face strong resistance there, says Hardik Jain, technical analyst, The stock is at Rs 1,932.85 on the BSE.
Asian markets are trading at fundamentally attractive levels, says Chris Wood of CLSA Greed & Fear, He expects Japan to outperform this year.
ICICI Bank can be a good buy today for a target of Rs 780, says Sushil Kedia of K&A Securities, The stock is at Rs 575.85 on the BSE.
The market has opened with a gap up on Friday. Sensex is at 13,785, down 470 points from the previous close. Nifty is at 4176, down 138 points.
HDFC Bank has support at Rs 1,150 and can go up to Rs 1,450, where it will face resistance, says Hardik Jain, technical analyst,The stock is at Rs 1,270, up 3.9% on the BSE.
Rolta has given a good volume breakout and one may look at entering it now, says Hardik Jain, technical analyst, It looks good on the charts, he adds. It is currently trading at Rs 299.10, up over 2% on the BSE.
The pattern for Jet Airways is still negative on technical charts, says Hardik Jain, technical analyst, Also, there’s a lot of competition now and alot of pressure on the margins on airline companies, he explains. It is best to avoid them, he suggests. Jet is currently trading at Rs 445, up 1.5% on the BSE.
Garware Offshore has secured a Firm Contract for upto 3 years in South Africa. The annual revenue from this Contract is expected to be Rs 22 crore, says the company. The stock is currently trading at Rs 175.25, up 2.7% on the BSE.
Siemens will face strong resistance at Rs 530-540 and only after it crosses this, should one look at buying the stock, says Hardik Jain, technical analyst, It is currently trading at Rs 509, up 3.5% on the BSE.
The Nifty is expected to trade between 3800-4500 for the next two quarters, says an expert from Edelweiss Securities, He expects a fall in Q3FY09 earnings.
A pullback is expected in Tata Motors, but it won’t be more than 6-7% upside, says Hardik Jain, technical analyst, So it is best to avoid the stock for now, he suggests. It is at Rs 426, up 2.7% on the BSE.
Mercator Lines has a good business model and fundamentals, says PK Agarwal of Bonanza Portfolio, on Zee Business. The stock has support at Rs 55 and resistance at Rs 75, he adds. One can look at averaging or buying the stock close to Rs 55, he suggests. It is currently trading at Rs 60.70, up 5.6% on the BSE.
The market is still trading up, though off the day’s highs. Sensex is at 13,706, up 391 points from the previous close. Nifty is at 4139, up 101 points. CNX Midcap index is up 2.4% and BSE Smallcap index, up 2%. All BSE sectoral indices are trading higher, with that for IT and realty gaining the most. Market breadth is strong, with 978 advances against just 194 declines on the NSE.
profit.nifty: NTPC Ltd is looking to expand its planned nuclear power capacity beyond the original target in the wake of the recent lifting of the global embargo on nuclear trade with India. The NSG approval enables the company to explore the possibility of increasing the size of its planned nuclear portfolio of 2,000 MW by 2017.The Nuclear Suppliers Group, a 45-nation cartel that controls global nuclear trade, approved a US-sponsored agreement that permitted the export of civilian nuclear technology and services to India. NTPC aims to raise its generation capacity by 22,430 MW during the Eleventh Plan.
Morgan Stanley has cut Ranbaxy’s target price to Rs 271 from Rs 589 on US FDA action on the company, The stock is currently trading at Rs 350.20, up 2.7% on the BSE
Adlabs will face strong resistance at Rs 440, close to which one should exit the stock, says Sanjeev Agarwal, technical analyst, It can fall to Rs 300 or so now, he says. It is currently trading at Rs 397.30, up 3.5% on the BSE.
Libertywala rafe: sources report: friends zyada tar desh mein short selling ban ki jaa rahi hai..UK..US (proposed)…China…..etc…..Kya India mein bhi hogi kya?
Libertywala rafe: The U.S. Securities and Exchange Commission met late Thursday night, and a source briefed on the matter said a temporary ban on short sales of some, or all, stocks was being considered. (please confirm ur sources also)
Availability of capital will be a major concern for the market going forward, says an expert from Edelweiss,Domestic funds are sitting on maximum 5-10% cash, he says. But hedge funds are sitting on large amounts of cash, he adds.
Gujarat NRE Coke has support at Rs 55-50, where one may look at averaging or buying the stock, says PK Agarwal of Bonanza Portfolio, It will face someresistance at Rs 80, he adds. But one can continue to hold it, he suggests. The stock is currently trading at Rs 64.40, up 5.6% on the BSE.
As long as GTL Infrastructure stays above its support level of Rs 30, one can continue to hold the stock, says Sanjeev Agarwal, technical analyst, It is currently trading at Rs 36.90, up 2.1% on the BSE.
Unless HDIL starts trading above Rs 245-250 decisively, one may not see an uptrend returning to the counter, says Rahul Mohindar, technical analyst, The sector as a whole has been negative for quite a while now, so it is advisable to stay away form it for now, he suggests. The stock is currently trading at Rs 215.60, up 4% on the BSE.
Satyam Computer will face resistance at Rs 410-425 where may exit the stock for now, says Sanjeev Agarwal, technical analyst, It is currently trading at Rs 357.50, up 6.7% on the BSE.
Sensex is at 13,800, up 484 points from the previous close. Nifty is at 4173, up 134 points. CNX Midcap index is up 2.4% and BSE Smallcap index, up 2%. Realty and IT stocks are among the biggest gainers today. Market breadth is strong with 1,009 advances against 220 declines on the NSE.
Patel Engineering has bagged orders worth Rs 696 crore, The stock is currently trading at Rs 377, up 7% on the BSE
Axis Bank is a fundamentally strong stock, says Sanjeev Agarwal, technical analyst, But it will face resistance at Rs 700-725, where one should exit the stock, he suggests. One may get it at a lower price, say close to Rs 600-550 again later, he adds. It is currently trading at Rs 696.15, down 2.6% on the BSE.
Lehman Brothers had not invested in Unitech, but in one of the project of the company, says PK Agarwal of Bonanza Capital, And as the company says, the money has already come in, he adds. So there’s nothing much to worry about this counter if you have about 1-1.5 yers’ view, he says. The company’s land bank is intact and it also has licenses for the telecom business now, he says.
Technically, Unitech needs to start trading above Rs 150 to gain any momentum, says PK Agarwal of Bonanza Capital. One can hold it with a stoploss of Rs 115, he suggests. The stock is currently trading at Rs 125.75, up over 3% on the BSE.
Do not to get aggressive on buying unless the Nifty crosses 4300, says Sushil Kedia of K&A Securities. One may see see potential short-term trading reversal at 4600, but it will eventually be broken with the pullback going to 100-150 points lower from there, he says.
Balrampur Chini is trading in the range of Rs 70-110, says Sanjeev Agarwal, technical analyst. So one can buy the stock close to Rs 70 and sell it close to Rs 100 or so, he suggests. It is currently trading at Rs 86.25, up 4.2% on the BSE.
There is an upside bias in the market now, says Prakash Gaba, technical analyst, Sensex can go up to 14,452 and maybe even to 14,561, he adds. It is advisable to book profits at higher levels, he says.
Infosys is a safe opportunity on the upside, says Prakash Gaba, technical analyst, It has a target of Rs 1,750, he adds. It is at Rs 1,623.85 on the BSE.
Bharti Airtel will face stiff resistance at Rs 825-830, says Prakash Gaba, technical analyst, If it can cross this, then it can go up to Rs 850 maximum, he adds. The stock is at Rs 799.10 on the BSE
The market has opened with a gap up on Monday. Sensex is at 14,215, up 173 points from the previous close. Nifty is at 4276, up 30 points.
JP Associates needs to get past Rs 153 to gain any strength, says Ashwani Gujral, technical analyst, The stock should be sold on rallies, he suggests. It has support at Rs 118, he says. It is currently trading at Rs 136.85, up 1.2% on the BSE
The steel pack looks good now, says Prakash Gaba, technical analyst,Tata Steel has target of Rs 540 and SAIL of Rs 170, he says
profit.nifty: Reliance Industries will account for about 40% of the country’s energy production in the next 18 to 24 months, putting the company on track to earn a quarter of its profit from oil and gas production, from 5% now. The total hydrocarbon output from the Dhirubhai 6 (D6) block in the KG basin will rise to 550,000 barrels of oil equivalent a day (boed) by March 2010. In monetary terms, it’s Rs 86,000 crores a year, according to Mukesh Ambani, the chairman of the company. Meanwhile, the company will be ready to sell gas from its Krishna Godavari offshore basin from the January-March quarter next year.
The steel pack looks good now, says Prakash Gaba, technical analyst, Tata Steel has target of Rs 540 and SAIL of Rs 170, he says
ONGC looks positive on the charts, says Ashwani Gujral, technical analyst, It has support at Rs 979 and will face resistances at Rs 1,126 and Rs 1,240, he adds. The stock is currently trading at Rs 1,062, down 0.9% on the BSE.
NIIT Technologies needs to cross Rs 96 for a target of Rs 114-115, says Prakash Gaba, technical anlayst, The stock is currently trading at Rs 96.65, up 2.7% on the BSE.
ABN Amro retains ’sell’ rating on Reliance Industries, with a target proice of Rs 1,850, The stock is currently trading at Rs 2,078.10, up 1.3% on the BSE.
Capital goods stocks are a safe opportunity on the upside, says Prakash Gaba, technical analyst, BHEL has a target of Rs 1,800 and L&T, of Rs 2,800, he says. BHEL is currently at Rs 1,713.50 and L&T is at Rs 2,665.90, on the BSE.
Capital goods stocks are a safe opportunity on the upside, says Prakash Gaba, technical analyst, BHEL has a target of Rs 1,800 and L&T, of Rs 2,800, he says. BHEL is currently at Rs 1,713.50 and L&T is at Rs 2,665.90, on the BSE.
DLF should be sold on rallies, says Ashwani Gujral, technical analyst, It has support at Rs 380, he says. The stock is currently trading at Rs 436, up 2.1% on the BSE.
The Sensex is in a trading zone of 12,000-15,000, says Seshadari Sen of Macquarie Research, One should still be cautious on rate sensitives and buy selectively here, he suggests. The brokerage’s top picks include Bharti Airtel, Reliance Industries, BHEL and Sun Pharma, he says.
In the midcap space, IDFC may have bounces, but not sustantial ones, says Ashwani Gujral, technical analyst, It will face resistance at Rs 90, he adds. The stock is currently trading at Rs 83.30, up 2.2% on the BSE.
Mastek needs to cross Rs 320 to have a target of Rs 350-355, says Prakash Gaba, technical analyst. The stock is at Rs 326, up 2.9% on the BSE.
One is unlikely to see sharp shocks in earnings, instead a gradual slowdown may be seen, says Seshadari Sen of Macquarie Research. The brokerage is forecasting lower GDP growth in FY10, which will reflect on core earnings, he says.
One can continue to hold India Infoline for a target of Rs 132, says Hitendra Vasudeo, technical analyst. Keep a stoploss of Rs 90, he suggests. The stock is currently trading at Rs 110.30, down 0.9% on the BSE.
Godawari Power has good earnings potential, says Ambareesh Baliga of Karvy Stock Broking. He sees FY09 EPS for the company at Rs 44-45. The stock can go up to Rs 230-240, so continue to hold it, he says. It is currently trading at Rs 160, up 1.7% on the BSE.
Unless 4,330-4,350 is crossed on the Nifty, people would be much better trying to short this initial kind of gap up, says Ashwani Gujral, technical analyst,. FTSE rallied 9% on Friday and that’s unsustainable, he says. About 20% in two days, whereas that doesn’t even happen in a month, he explains. So there should be serious profit booking before the market goes up, if it has to, he says.
In the near to mid term, Godawari Power can go up to Rs 190, where one can exit the stock, says Vijay Bhambwani, technical analyst. It is currently trading at Rs 159.95, up 1.6% on the BSE.
The Asian markets are trading good. The European markets are looking nervous. The Indian market is seeing a listless session. Sensex is trading at 138994, down 47 points and Nifty is at 4220, down 24 points from the previous close. CNX Midcap index is up 0.13% and BSE Smallcap index is up 0.55%. BSE Realty is up 1.6%, BSE Metal index is up 2%. The market breadth is positive with advances at 719 against declines of 482 on the NSE.
One can expect Asian markets to remain choppy, but within a range, says Mark Mathews of Merrill Lynch. He does not expect energy and resources to outperform rate sensitives going forward.
Ispat has resistance at Rs 27-30 where one can book partial profits, says MB Singh, technical analyst. More stock can be bought around Rs 20 for the long term, he adds. The stock is currently trading at Rs 21.20, up 0.71% on the BSE.
There is no serious upside likely in the global market, says Samir Arora of Helios Captial. A stable market is good and one can be relatively bullish with tempered down expectations, he adds.
Reliance Infrastructure has a target of Rs 932-953, says Imtiaz Kureshi, technical analyst. Maintain a stop loss of Rs 884, he adds. The stock is currently trading at Rs 881, up 1.25% on the BSE.
The market has turned choppy and it is witnessing profit booking. Sensex is trading at 13979, down 62 points and Nifty is at 4218, down 26 points from the previous close. CNX Midcap index is down 0.58% and BSE Smallcap index is down 0.04%. The market breadth is negative with advances at 589 against declines of 632 on the NSE.
Tata Steel has a target of Rs 520-540 and resistance at Rs 505-515, says Imtiaz Kureshi, technical analyst. Maintain a stop loss of Rs 478, he adds. The stock is currently trading at Rs 495, up 3.34% on the BSE.
Satyam is looking weak and it has a target of Rs 355-360, says Dr Dharki, technical analyst. Maintain a stop loss of Rs 375, he adds. The stock is currently trading at Rs 352, down 4.76% on the BSE.
ITC has a target of Rs 202-212, says Imtiaz Kureshi, technical analyst. Maintain a stop loss of Rs 189, he adds. The stock is currently trading at Rs 196, up 2.83% on the BSE.
Kaveri Seeds has a target price of Rs 375 for the long term, says S Rnaganathan of LKP Shares. This is a Rs 6000 crore industry with a growth of 13% per annum, he adds. The stock is currently trading at Rs 243, up 3% on the BSE.
HPCL has capex plans of Rs 3000 crore for FY08-FY09. The Bhatinda refinery is to be commissioned by March 2011. The stock is currently trading at Rs 229, down 2.51% on the BSE.
The market is choppy in a tight range. Sensex is trading at 13975, down 67 points and Nifty is at 4216, down 28 points from the previous close. CNX Midcap index is down 0.31% and BSE Smallcap index is down 0.04%. The market breadth is negative with advances at 598 against declines of 642 on the NSE.
Global equity markets seem to have hit major support levels, says Sandy Jadeja of ODL Securities. Injecting liquidity in the market is not a long-term solution to the problem, he feels. The short sellers could now move into the retail and forex sector.
MIC Electronics has a target price of Rs 130-135, says E Mathew, technical analyst. The stock is currently trading at Rs 106, up 2.37% on the BSE.
The global financial crisis is bound to impact fundamentals in India, says Michael Spencer, MD and chief economist of Deutsche Bank.Heightened risk aversion has been witnessed in India, he feels. Expect India to see a GDP slowdown to 6.3% by next year, he adds. India’s banking system is de-leveraged from Asia, he feels.
Videocon has a target price of Rs 350-450 in 12 months, says Ashish Kukreja, technical analyst. The stock is currently trading at Rs 106, up 2.37% on the BSE.
NTPC has seen a breakout and it has a short-term target (4-6 weeks) at Rs 210-215 and medium term target (3-4 months) of Rs 230-235, says Dr Dharki, technical analyst.Maintain a stop loss of Rs 175-165. The stock is currently trading at Rs 181, down 0.87% on the BSE.
Hold Nifty long with stop loss of 4150-4170, says E Mathew, technical analyst. as closing market strategy.
Avoid initiating any long on Nifty unless it closes above 4275, says Vijay Bhambwani, technical analyst
The Asian markets closed firm and European markets were trading flat. The Indian market closed flat witnessing choppiness in a tight range. Sensex closed at 13952, down 89 points (provisional) and Nifty at 4209, down 36 points (provisional) from the previous close. CNX Midcap index was down 0.66% and BSE Smallcap index was down 0.48%. The market breadth was negative with advances at 506 against declines of 737 on the NSE.
Nitish Gheewala (9/22/2008 6:35:26 PM): 22/9/08 FII Buy 3,194.00 Sell 3,055.79 Net 138.21 DII BUY 811.29 SELL 1,017.41 NET -206.12
Nitish Gheewala (9/22/2008 6:34:59 PM): 22/9/08 FII Buy 3,194.00 Sell 3,055.79 Net 138.21 DII BUY 811.29 SELL 1,017.41 NET -206.12
Libertywala rafe (9/22/2008 7:24:49 PM): crude 108.01
Libertywala rafe (9/22/2008 7:48:37 PM): dow -143
Nishesh Jani (9/23/2008 8:05:15 AM): N.F.OUTLOOK- SUPPORT AT 4201-4193-4171 AND THEN FREE FALL TO 4073 RESISTANCE AT 4280-INTRADAY AELL HPCL SL 236 TGT 226-222-217-213 SELL BPCL SL 344 TGT 331-326-32–315 nishesh jani
Hero Honda has good support at Rs 790, where one can buy the stock and book profits at Rs 880-900, says Ashwani Gujral, technical analyst,Do not expect levels higher than this in the current market scenario, he adds. It is at Rs 817.70 on the BSE.
Sterlite Industries has a strong support at Rs 420-425, says Ashwani Gujral, technical analyst, The stock may see a pullback rally to Rs 570, he says. But the trend in this counter is still down, he says. And since it is already at lower levels, shorting would not be appropraite here, he suggests. It is currently trading at Rs 455.60, down 1% on the BSE
HUL has support at Rs 190-195 and will face resistance at Rs 245-250, says Ashwani Gujral, technical analyst, If it can cross the resistance level, then it may go up to Rs 265-270, he adds. So continue to hold the stock for now, but do not look at buying fresh here, he suggests. It is currently trading at Rs 247.60, down 0.7% on the BSE
Sesa Goa has strong support at Rs 100 and will face resisance at Rs 132, says Ashwani Gujral, technical analyst, Once the resistance level is crossed, it can go up to Rs 160-165, he says. It is a strong company, but the stock gets affected cyclically due to the demand-supply of commodities, he explains. It is currently trading at Rs 130.30, up 5.6% on the BSE.
If one has bought Balaji Telefims at Rs 140, then can book some profits at Rs 190-195, says Ashwani Gujral, technical analyst, The stock is currently trading at Rs 152.35, down 0.9% on the BSE.
The market is likely to be rangebound in the short-term, says Uday Kotak, Vice Chairman and Managing Director, Kotak Mahindra Bank, He sees the Sensex between 13,000-15,000 levels. India is in a cyclical slowdown, but the structural story is intact, he says. But crude oil prices remain a big issue for the country, he adds.
nirav desai: Accumulation in Tata Power CMP 1038 SL 1018 Trg 1065
nirav desai: Accumulation in Suzlon CMP 202 SL 198 Trg 206 / 208
nirav desai: Nifty Fut sustain over 4231 will zoom till 4251 / 4276 / 4301, Support 4176, Let Nifty fut sustain over 4231
If Nifty holds the lows of 3800, then it can bounce to 5500 by December, says Ray Barros of the Ray Barros Trading Group, But it will face resistance at 4500-4600 and then at 5100-5200, he adds.
It is best to exit JM Financial at Rs 60-65, says Rajesh Jain of SMC Global The stock is currently trading at Rs 47.65, down 2.9% on the BSE.
It is best to wait for the quarterly results and then take a view on IT stocks, says Ashwani Gujral, technical analyst, For now, Infosys seems to be trading in the range of Rs 1,480-1,800 and Satyam Computer in Rs 315-410 range he says
Crude could bounce to $121-122 per barrel and then turn down to $83-84, says Ray Barros of the Ray Barros Trading Group,
Hindalco will face strong resistance at Rs 125-130, where one should look to book profits, says Rajesh Jain ofSMC Global, The stock is currently trading at Rs 109.70, down 0.1% on the BSE
The market is still trading in the negative terrain. Sensex is at 13,928, down 66 points from the previous close. Nifty is at 4211, down 12 points. CNX Midcap index is down 0.2% and BSE Smallcap index, down 0.6%. Oil & gas stocks are the favourites today, whereas realty, IT and banking stocks are being dumped.
JP Associates needs to move above Rs 150 to gain momentum, says Vijay Bhambwani, technical analyst, It has support at Rs 118, he adds. If you have a short term view on the counter, then it is best to sell the stock on rallies, he suggests. It is currently trading at Rs 125.80, down 3.3% on the BSE.
Tata Steel will face strong resistance at Rs 570-580, where one can look to exit the counter, says Rajesh Jain of SMC Global, The stock is currently trading at Rs 490.40, down 0.7% on the BSE.
Reliance Capital is a better stock in financial space, says Rajesh Jain of SMC Global, One can keep a stoploss of Rs 1,100 and continue to hold it, he suggests. If it closes above Rs 1,400, then expect good movement here, he adds. The stock is currently trading at Rs 1,256, down 1.3% on the BSE.
IDFC has resisatnce at Rs 110, and once it moves above this, it will gain momentum, says Vijay Bhambwani, technical analyst, The stock is currently trading at Rs 80.25, down 1.8% on the BSE.
Chennai Petro needs to move beyond Rs 265 to gain any strength, says Vijay Bhambwani, technical analyst, On the downside, it can fall to Rs 212, he adds. It is advisable to sell this stock and buy RPL instead, he says. The stock is currently trading at Rs 239.15, up over 2% on the BSE.
GTL Infra is falling due to the market conditions for now, says Rajesh Jain of SMC Global,Otherwise, it is a good stock to hold, he adds. It is currently trading at Rs 36.30, down 1.2% on the BSE.
Sensex is at 13,872, down 122 points from the previous close. Nifty is at 4193, down 29 points. CNX Midcap index is down 0.5% and BSE Smallcap index, down 0.8%.
RPL has support at Rs 130-132 and resistances at Rs 166 and Rs 172, says Vijay Bhambwani, technical analyst, But one can hold it for the long term, he suggests. The stock is currently trading at Rs 152.25, up 0.13% on the BSE.
TCS will remain under pressure in the short to medium term, says Vijay Bhambwani, technical analyst, It has support at Rs 690-700 and will face resistance at Rs 840, he says. The stock is currently trading at Rs 762.40, down 0.5% on the BSE.
Karvy Stock Broking maintains ‘buy’ rating on Tata Chemicals, with a target price of Rs 441. The stock is currently trading at Rs 270, down 0.6% on the BSE.
The issues in the US are not really over, says Munesh Khanna, Chairman, Anagram Capital. One will continue to see some pain it is still uncertain where the bottom is, he says.
Unless Birla Cotsyn moves above Rs 9-10, it will not gain moentum, says Rajesh Jain of SMC Global. So it is better to exit the stock at Rs 9-10 and switch, he suggets. It is currently trading at Rs 7.83, down 0.8% on the BSE.
The Asian markets have slipped and European markets open in the negative. The Indian market is seeing a sticky session. Sensex is trading at 13797, down 197 points and Nifty is at 4181, down 41 points from the previous close. CNX Midcap index is down 0.30% and BSE Smallcap index is down 0.73%. BSE Realty is down 2.7%. The market breadth is negative with advances at 337 against declines of 863 on the NSE.
Sesa Goa has resistance at Rs 130-132 and in any correction at Rs 90-100 it can be bought, says Simi Bhaumik, technical analyst. The stock is currently trading at Rs 128, up 3.8% on the BSE.
CESC plans to invest Rs 24,000 crore for power generation capacity and increase capacity from 1000MW to 4100MW by FY2013, says Sanjiv Goenka, VC of the company. The company plans to spend Rs 450 crore over next three years and spend Rs 1200 crore as maintenance cost over next four years, he adds. The company is also eyeing coal reserves in Indonesia and Mozambique, he adds. The stock is currently trading at Rs 283, down 0.46% on the BSE.
Aban Offshore has a target price of Rs 3570, reports Sharekhan . The stock is currently trading at Rs 2425, up 0.92% on the BSE.
RNRL has resistance at Rs 84-92-100, says Rajat Bose, technical analyst. The stock is currently trading at Rs 80, down 0.99% on the BSE.
Crompton Greaves has a target price of Rs 367, reports Sharekhan . The stock is currently trading at Rs 250, down 2.70% on the BSE.
Nagarjuna Constructions has bagged four orders worth Rs 413 crore, says YD Murthi, Executive VP-Finance, of the company . The stock is currently trading at Rs 112, down 3.52% on the BSE.
Tata Steel has resistance at Rs 504-515-529, says Rajat Bose, technical analyst. The stock is currently trading at Rs 480, down 2.78% on the BSE.
Tata Steel has a target of Rs 600, says Srikant Chouhan, technical analyst, Kotak Securities. The stock has support at Rs 450 and is currently trading at Rs 474, down 3.87% on the BSE.
Hotel Leela has resistance at Rs 36 after which it can move to Rs 42, says Hemen Kapadia, technical analyst. Maintain a stop loss of Rs 28, he adds. The stock is currently trading at Rs 29, down 0.17% on the BSE.
Sesa Goa has resistance at Rs 140-150-190, says Srikant Chouhan, technical analyst, Kotak Securities. The stock has support at Rs 100 and is currently trading at Rs 128, up 4.3% on the BSE.
HUL has resistance at Rs 251-263, says Rajat Bose, technical analyst. It is currently trading at Rs 246, down 1.02% on the BSE
- The market is looking bad and drifting lower. Sensex is trading at 13591, down 403 points and Nifty is at 4131, down 91 points from the previous close. CNX Midcap index is down 1.34% and BSE Smallcap index is down 1.45%. BSE Realty, BSE Bankex and BSE IT index are all down 4%. The market breadth is negative with advances at 252 against declines of 995 on the NSE.
Weakness seems to have returned to the market and if Nifty breaks 4115 then it could go to 4055, says Rajat Bose, technical analyst. The bears will regain their hold and Nifty may test 4000 again if 4055 is taken out, he adds.
The market seems to be directionless at the moment, says Sudhanshu Pandey of LKP Shares, One can look at short covering at lower levels, he suggests.
One can enter Ranbaxy at current levels or continue to hold the stock for the long term, says Sudhanshu Pandey of LKP Shares, The stock is at Rs 308.85 on the BSE.
darshan shah: State Bank of India’s director resigns
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darshan shah: Punj Lloyd receives project worth US$ 800 million
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One can take profits in Infosys at Rs 1,600 and go short, as the trend is bearish in this counter, says Sudhanshu Pandey of LKP Shares, On the downside, if it falls below Rs 1,530, then one may see fresh weakness in the counter and it may head lower to Rs 1,450, he adds. It is at Rs 1,543.35 on the BSE.
Sesa Goa is an excellent stock to own as well as trade, says Sudarshan Sukhani, technical analyst, It has support at Rs 100, but investors can buy it even at current levels, he says. Even a trader can buy it for 10-15% upside, he adds. The stock is at Rs 127.25 on the BSE.
darshan shah: Gujarat State Financial Corporation reports net loss of Rs 28.84 crore in
the June 2008 quarter
Gujarat State Financial Corporation reports net loss of Rs 26.22 crore in
the March 2008 quarter
The market has opened slightly higher on Wednesday. Sensex is at 13,682, up 111 points from the previous close. Nifty is at 4160, up 33 points.
One should sell Reliance Industries as there seems to be no strength in the counter, says Sudhanshu Pandey of LKP Shares, It will face extremely strong resistance at Rs 2,200 and can fall to Rs 1,800 or even lower, he says. Long term investors can buy some at Rs 1,800, he suggests. The stock is currently trading at Rs 2,019.80, up 0.5% on the BSE.
Rolta will face strong resistance at Rs 280-320, so one should look at booking profits here, says Rajat Bose, technical analyst,It is currently trading at Rs 268.40, up over 3% on the BSE.
Moser Baer is a buy on every dip, though not necessarily today, as it has run up quite a lot, says Sudarshan Sukhaon It can be choppy for a few days, let it stabilise and then buy, he suggests. It is currently trading at Rs 124.60, up 1.9% on the BSE.
sarthak ganatra: sam baba: alert :: Sgx nifty at 4170,buffettinvest 5bn $ in gold man saches,and dow fut up by 125 point
BPCL will face strong resistance at Rs 375, says Sudhanshu Pandey of LKP Shares, It has support at Rs 320-315, he adds. The stock is currently trading at Rs 351, up 1.6% on the BSE
McLeod Russel is a very good pick at current levels, says Rajat Bose, technical analyst, The stock has a year’s target of Rs 180, he adds. It is currently trading at Rs 87.20, up 1.8% on the BSE.
Cairn India will face strong resistance at Rs 240, says Sudhanshu Pandey of LKP Shares, From there, it can possibly fall to Rs 200 again, he adds. The stock is currently trading at Rs 222, down 0.8% on the BSE.
The US government bailout package is expected to work, says Russell Napier, Strategist at CLSA, In the long-term, US equities remain much overvalued, he says. The major deflationary risk comes from Europe and not the US, he adds.
Balrampur Chini is likely to be an outperformer and has a short-term target of Rs 115, says Rahul Mohindar, technical analyst, The stock is currently trading at Rs 95, up 3.6% on the BSE.
Satyam Computer has been a big disappointment, says Sudarshan Sukhani, technical analyst, It has broken down from significant support levels and that doesn’t mean it has to fall more, but there is no justification to buy neither for a trader nor for an investor, he adds. It is currently trading at Rs 321.10, down 3.2% on the BSE.
If one has a short term view on NTPC, then sell the stock close to Rs 182, says Vijay Bhambwani, technical analyst. Otherwise continue to hold it for 1.5-2 years, he suggests. It is currently trading at Rs 165.45, down 2.7% on the BSE.