Thursday, February 19, 2009

Market moves marginally up - 19-02-09

Maintain Nifty longs for target of 2820-2870 and stop loss below 2750, says Rahul Mohindar, technical analyst, on CNBC TV18, as closing market strategy.  

 Initiate short positions with stop loss of 2825 and target of 2670, says Devangshu Dutta, market expert, on CNBC TV18, as closing market strategy. If Nifty falls below 2770 add Nifty shorts, he adds.  

The market gave a breakout but it failed and now Nifty target of 3000-3100 is not possible, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Nifty resistance is now 2950 and till it closes above that level, it is a sell on rallies, he adds. 

Expect India to post GDP of 7% in FY09 and GDP of 6.2% in FY10, says Ajay Loganandan of HSBC Private Banking on NDTV Profit. Expect the recovery in Asian trade to be led by China, he says. Expect the Indian market to retest the October lows after which it will bounce back, he feels. Corporate governance in India is not a concern, he adds.

While the overall trend continues to be weak the market could see a trading bounce that could take Nifty to 2825-2880 in the near term, says Anil Maghnani, technical analyst, on Zee Business. After that Nifty could go down to 2720 and then the real breakdown will come in, he adds. 

The market continues to trade flat. Sensex is trading at 9059, up 44 points and Nifty is at 2792, up 16 points from the previous close. CNX Midcap index is up 0.21% and BSE Smallcap index is down 0.16%. The market breadth is negative with advances at 535 against declines of 594 on the NSE.  

SMC Global Securities maintains a buy call on Sesa Goa with a target of Rs 105 and stop loss of Rs 83, reports CNBC Awaaz. The stock is currently trading at Rs 87, down 1.62% on the BSE. 

 Buy India Infoline with a target of Rs 65 and stop loss of Rs 45, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 53, up 4.22% on the BSE.  » Send to friends

2:47 PM - SMC Global Securities maintains a buy call on Grasim Industries with a target of Rs 1400 and stop loss of Rs 1320, reports CNBC Awaaz. The stock is currently trading at Rs 1375, down 2.52% on the BSE.  » Send to friends

2:41 PM - Buy Alstom Projects with a target of Rs 340 and stop loss of Rs 250, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 290, up 2.5% on the BSE. 

Crnindia.com maintains a buy call on GMR Infra with a target of Rs 88 and stop loss of Rs 76, reports CNBC Awaaz. The stock is currently trading at Rs 79, down 0.68% on the BSE. 

Hold Jaiprakash Associates which has resistance at Rs 80-90 after which it can go to Rs 130-140 where one can exit the stock, says Rajesh Jain of SMC Global Securities, on Zee Business. The stock is currently trading at Rs 68, down 0.07% on the BSE. 

Sell Reliance Capital as it looks weak, if it breaks Rs 370 it has a target of Rs 300, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 380, up 0.34% on the BSE.  

Hold Punj Lloyd with a target of Rs 110 after which it can go to Rs 150-160 where one can exit the stock, says Rajesh Jain of SMC Global Securities, on Zee Business. Maintain a stop loss of Rs 90, he adds. The stock is currently trading at Rs 85, down 1.56% on the BSE.  

There was no rally post the US President Obama's bailout package and India is unlikey to trade differently from US markets that are close to their lows, says VK Sharma of Anagram Stock Broking, on CNBC Awaaz. The expected interest rate cut from RBI next week is helping the market from falling badly, he adds.  

The market is trading in a tight range and still in the positive. Sensex is trading at 9030, up 15 points and Nifty is at 2784, up 8 points from the previous close. CNX Midcap index is up 0.21% and BSE Smallcap index is down 0.07%. The market breadth is negative with advances at 536 against declines of 582 on the NSE.  

Buy Mercator Lines at Rs 22 with a target of Rs 35-36 where one can exit the stock, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 28, up 1.4% on the BSE. 

Hold Indiabulls Real Estate with a target of Rs 130-150 where one can exit the stock, says Rajesh Jain of SMC Global Securities, on Zee Business. Maintain a stop loss of Rs 80, he adds. The stock is currently trading at Rs 96, up 0.10% on the BSE.

Buy Renuka Sugars with a target of Rs 95-105 and support at Rs 75, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 87, up 0.80% on the BSE.

IIFCL has not yet received detailed guidelines for bond issue, says SS Kohli, CMD of IIFCL, on CNBC TV18. It may take 4-5 months to start lending from the bond issue, he says. Over Rs 10,000 crore from the bond issue will be used for new projects, he says. 

This will continue to be a ranged market, so one can buy on dips and sell on rises, says Deven Choksey of KRC Research, on Zee Business. Buy Nifty levels of 2760-2730 and sell on levels of 2830-2880 with a stop loss of 2690-2630, he adds. In the infra space the same strategy can be applied for L&T, BHEL and Reliance Infrastructureand in auto space for Hero Honda and Maruti Suzuki, he adds.  

The market is caught between high concern and high caution, says K N Vaidyanathan, CEO, Alchemy Capital, on CNBC TV18. But the market is likely to see a downside soon, he adds. 

The Asian markets are trading mixed. The Indian market is holding on to its gains and trading in the positive. Sensex is trading at 9025, up 10 points and Nifty is at 2780, up 4 points from the previous close. CNX Midcap index is up 0.29% and BSE Smallcap index is up 0.01%. The market breadth is negative with advances at 545 against declines of 546 on the NSE. 

Buy Idea Cellular at Rs 40-41 with target of Rs 53-54, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 48.15, up 1.2% on the BSE. 

Exit from Tata Teleservices and instead invest in Bharti Airtel, says Sharmila Joshi of Systematix Shares on CNBC Awaaz. The stock is currently trading at Rs 23.15 on the BSE

Hold DLF with stop loss of Rs 128, says Kiran Jadhav, technical analyst, on NDTV Profit. It might go up to Rs 178 at which level book profits, he adds. It has support at Rs 131 and resistance at Rs 167, he says. The stock is currently trading at Rs 158.60, down 0.1% on the BSE.  

Hold L&T and buy more at the current levels, says Ashish Kapur of Invest Shoppe, on NDTV Profit. It is a good stock to invest in, he adds. The stock is currently trading at Rs 642.65, down 1.8% on the BSE.  

Hold Reliance Communications with stop loss of Rs 154-155, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It might go up to Rs 200 at which level book profits, he adds. The stock is currently trading at Rs 162.25, down 0.4% on the BSE. 

With the US markets holding November lows, Indian markets are likely to be flat with lower volumes, says Dipan Mehta, member of the BSE/NSE, on CNBC TV18. The Nifty is seen between 2770-2900 before expiry and low Implied Volatility indicates that no major sell-off is expected, he adds. He thinks that the market may get some short covering relief as some shorts were created after the interim budget.  

Hold Suzlon Energy with stop loss of Rs 36, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It might go up to Rs 55 at which level book profits, he adds. The stock is currently trading at Rs 43, up 3.2% on the BSE. 

The market at noon appears quite choppy but decline in inflation numbers is helping the indices trade on the higher side. Sensex is trading at 9028, up 13 points from its previous close, and Nifty is at 2782, up 6 points. CNX Midcap index is up 0.7% and BSE Smallcap index is up 0.4%.  

Suzlon Energy is a good long-term buy, says TS Harihar of Karvy Stock Broking on CNBC TV18. The stock is currently trading at Rs 43.30, up 4% on the BSE. 

11:54 AM - Inflation for week ended February 7 has been declared at 3.92% versus the earlier week's figure of 4.39%, reports NDTV Profit. Inflation rate is now at a 13-month low, it adds.  

CBI is to investigate into criminality of matter of Satyam Computers, says Minister for External Affairs Pranab Mukherjee in Rajya Sabha, reports CNBC TV18. It will take some time, he adds. Company has adequate incumbent assets which can make it run, he says. The stock is currently trading at Rs 47.40, down 2.4% on the BSE.  

Buy Mahindra & Mahindra with short-term target of Rs 305-306, says Rahul Mohindar, technical analyst, on CNBC Awaaz. There is no negativity in the stock, he adds. The stock is currently trading at Rs 294.05, up 3.3% on the BSE. 

Buy HDIL at Rs 80, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep stop loss of 3 to 4%, he adds. The stock is currently trading at Rs 81, up 2.3% on the BSE.  

Hold SAIL for medium to long term, says Rahul Mohindar, technical analyst, on CNBC Awaaz. It can give returns of 20-25% from the current levels, he adds. The stock is currently trading at Rs 84.60, up 1.7% on the BSE. 

Buy SREI Infrastructure on dips and hold for 6-12 months, says Pankaj Jain of Satguru Capital on CNBC Awaaz. The stock is currently trading at Rs 37.15, down 0.3% on the BSE.  

Short-term traders can hold WWIL with target of Rs 18-19, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 12, she adds. Long-term investors can hold with stop loss of Rs 9, she says. The stock is currently trading at Rs 16.25, up 16.7% on the BSE. 

 An hour into opening the market continues to remain in the green, though not as strong as the opening was. There is some buying interest amid volatility. Sensex is trading at 9049, up 34 points from its previous close, and Nifty is at 2789, up 13 points. CNX Midcap index is up 0.9% and BSE Smallcap index is up 0.5%. The market breadth is now positive with advances at 640 against declines of 343 on the NSE. 

Exit fully from MRO-TEK, says Rahul Mohindar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 28.35, down 5.8% on the BSE.  

Buy Infosys at Rs 1178 with target of Rs 1200, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1165, she adds. The stock is currently trading at Rs 1175.80, down 0.3% on the BSE.  

Hold GE Shipping, says Pankaj Jain of Satguru Capital on CNBC Awaaz. Buy more on correction in the market, he adds. The stock is currently trading at Rs 172.50, up 4.1% on the BSE.

Buy HDIL when it is above Rs 80 with target of Rs 85-87.50, says Rajat Bose, technical analyst, on CNBC TV18. Keep stop loss below Rs 78, he adds. The stock is currently trading at Rs 81.30, up 2.7% on the BSE. 

Investors should hold Kohinoor Foods, says Pankaj Jain of Satguru Capital on CNBC Awaaz. Traders should buy at Rs 35-38 and sell when it reaches Rs 50, he adds. The stock is currently trading at Rs 49, up 2% on the BSE.  

Hold JP Associates for short term with stop loss of Rs 58, says Simi Bhaumik, technical analyst, on Zee Business. It has support at Rs 60 and resistance at Rs 75-78, she adds. The stock is currently trading at Rs 69.95, up 2% on the BSE.  

Exit from Educomp Solutions on rally, says Pankaj Jain of Satguru Capital on CNBC Awaaz. New investors may get a chance to buy at Rs 1600-1700, he adds. The stock is currently trading at Rs 2155, up 1.8% on the BSE. 

Buy NTPC at Rs 176 with target of Rs 179, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 173, she adds. The stock is currently trading at Rs 176.50, up 0.1% on the BSE. 

Exit from Hexaware, says Pankaj Jain of Satguru Capital on CNBC Awaaz. New investors should stay away, he adds. The stock is currently trading at Rs 28.30, down 3.1% on the BSE.  

The market opens on a more or less positive note today. Many of the heavyweights make some recovery. Sensex is trading at 9075, up 60 points from its previous close, and Nifty is at 2791, up 16 points. CNX Midcap index is down 0.8% and BSE Smallcap index is down 0.6%. The market breadth is marginally negative with advances at 272 against declines of 290 on the NSE.  » Send to friends

Buy DLF at Rs 158 with target of Rs 166, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 153, she adds. The stock is at Rs 158.70, up 7.3% on the BSE.  

The market will follow global cues as there are no major domestic triggers, says Devesh Kumar of Centrum Finance on CNBC TV18. He feels that ranged trade is likely till elections and any recovery will be slow as the global situation continues to be bad. He sees the Sensex between 8,000-10,000.  

The market is more a sideways market then a trending one, says Prakash Gaba, technical analyst, on CNBC TV18. He sees support for Sensex at 8865 and the resistance to the up move at 9445. Support for Nifty is at 2727-2685 and resistance to the up move is at 2890, he adds.  

Market will have flat to positive opening today and may trade in a narrow range as there are no fresh triggers for any significant move in either direction, says Ashwani Gujral, technical analyst, on CNBC TV18. He sees supports for Nifty at 2700-2730 and resistances at 2840-2900. Writing Index Options is the best strategy in this non-directional market, he adds.