Wednesday, February 18, 2009

Market News 18th Feb 09


3:26 PM: Hero Honda can be retained for long term.

Maruti, M&M and Bajaj Auto can also be accumulated in small quantities at sharp declines.

3:17 PM: SREI Infrastructure (Rs 37.75) can move up sharply over a long run.

One can buy this stock around its current levels and add more quantities at dips.

The SREI led consortium will implement one of Bengal's most prestigious projects, the Light Rail Transit Systems.

3:07 PM: Larsen & Toubro (Rs 655) can slip further and revist its 52-week low of Rs 611.

Still, investors with a long term plan need not worry about its prospects over a long run. Declines can be used to increase exposure to the stock.

2:58 PM: Pharma stocks Sun Pharma, Aurobindo Pharma, Cipla and Glaxo Smithkline can move up sharply over the next 6 - 9 months.

One willing to wait medium term for good returns can go in for these stocks around their current levels.

2:47 PM: Oriental Bank of Commerce (Rs 114) is just a few rupees away from its 52-week low of Rs 109.95.

The stock had touched that mark in late October 2008.

Investors with a long term plan continue to hold the stock and pick up more at sharp declines from here.

2:40 PM: Praj Industries (Rs 53) is likely to move sideways in the near run.

The stock will have to make a strong breakout around Rs 69 to make a sharp move up north. A rise to Rs 84 - 88 is possible if the stock manages to do that.

2:28 PM: Suzlon Energy (Rs 42) can be retained with a stop loss at Rs 36.

Axis Bank February Futures: Sell below at...

Though the stock is likely to remain highly sluggish in the near run, a modest rise is expected over the next 9 - 12 months.

2:22 PM: Celestial Labs Limited has added 50 members Technical team to work in Biopharma - SAP support with an order worth of US $ 1 Million business initially.

The thinly traded stock is being quoted around Rs 11.50 at present. The stock, which had touched a high of Rs 60 in May 2008, touched a low of Rs 10.30 last week.

LITL February Futures: Sell below at...

2:16 PM: Maruti Suzuki (Rs 617) is a good stock to own.

The stock can be accumulated in a staggered way at declines. Though a sharp upmove is possible even over a short run, the stock can see some equally sharp declines. Long term investors can continue to hold the stock with a stop loss near Rs 470.

2:08 PM: Investors looking at long term can continue to hold Tata Motors (Rs 133).

JP Hydro: Sell below at...

The stock is likely to have a tought time over the next few quarters, but a fairly strong rebound is likely over the next 12 - 18 months.

In the short run, the stock can drop down to Rs 105 - 110 if it slips to Rs 122 and trades weak for a few sessions.

2:00 PM: Reliance Infrastructure (Rs 510) can be retained for long term with a stop loss around Rs 350.

The stock will face strong resistance at 630 and a strong breakout there can lift it up to Rs 825 - 850.

1:50 PM: Alstom Projects (Rs 280) will face some resistance at Rs 290 and Rs 315.

The stock has support at 225. Long term investors can hold the stock with a stop loss there.

1:32 PM: Glaxo Smithkline Pharma has posted a net profit of Rs 208.70 crore for the quarter ended 31 December 2008 as compared to a net profit of Rs 80.90 crore it had recorded in the quarter ended 31 December 2007.

The pharma stock is up 1.25% at Rs 1205 now. The strong quarterly numbers is likely to push up the stock up sharply in the near term.

1:26 PM: The market has bounced back smartly, presumably due to short covering in heavyweight stocks.

With global cues not any encouraging, the market may find it difficult to hold at higher levels. Hence, it is advisable to restrict commitments to affordable levels.

1:18 PM: Bank of India (Rs 222) can go up sharply over the next three to six months.

Investors holding the stock can continue to stay invested. More quantities can be added at declines.

BOB, Andhra Bank, Federal Bank and UCO Bank can also be bought at current levels.

1:10 PM: The Nifty (2800) can rise to 2825 this afternoon.

It will take some support at 2770 and any weakness there can result in fall of another 20 - 30 points.

12:26 PM: AREVA T&D India has been awarded the Order for Gas Insulated Switchgear for Mettur Thermal Power Project Stage III of TNEB.

The stock is currenty traded around Rs 185. The strong order book can take the stock up sharply over a medium term.

12:18 PM: Investors can continue to hold Tech Mahindra (Rs 243).

The stock has good support at Rs 220 - 225 levels. One can have a stop loss there or a bit lower at Rs 205.

12:10 PM: Jaiprakash Associates (Rs 68) looks fairly attractive as a long term bet.

The stock can be bought at current levels. More of it can be purchased at declines. A stop loss can be placed around Rs 47, its 52-week low.

12:03 PM: Sun Pharmaceuticals (Rs 1053) is expected to move up sharply.

Investors looking for some sharp gains over a medium to long run can consider goind long in the stock at current levels. The stock is not likely to see a sharp downside from here.

11:57 AM: Oil stocks HPCL and BPCL are likely to move up further in the near run.

One can stay invested in these stocks and look at buying more in small quantities at sharp declines from here. IOC also looks good.

11:50 AM: Ranbaxy Laboratories (Rs 206) can rise to Rs 215 - 217 if the stock manages to sustain current momentum.

It has support at Rs 200 and intra-day traders with a good appetite for risk can go in for it now.

11:44 AM: Ambuja Cements (Rs 68) can be retained for long term.

The stock can give fairly good returns even over a short run but then it is likely to remain a bit slippery over the next few weeks. Long term investors can hold the stock with a stop loss at Rs 45.

11:37 AM: Oracle Financial Services (Rs 722) can be considered for long term.

The stock may weaken a bit in the near run, but investors willing to take chances can go in for it now.

Those with a low appetite for risk can wait for the stock to ease a bit and then take a call on taking some exposure.

11:30 AM: Investors looking for some safe investments and modest returns can try FMCG stocks Hindustan Unilever, ITC, Dabur India and Marico.

Though these stocks may not see a significant upmove, the downside risk appears quite limited.

11:22 AM: Thermax (Rs 157) can give good returns over a long run.

The stock will have to rise to Rs 195 and trade firm for a few sessions to make a significant move up north. It can then move on to Rs 300 or even higher.

11:16 AM: Indian Bank (down 3.35% at Rs 100.35) can weaken further.

However, investors with a medium or long term view can continue to hold the stock with a stop loss near Rs 80. Those with a good appetite for risk can take fresh exposure around Rs 95.

11:10 AM: Investors looking at long term can hold Reliance Capital with a stop loss near Rs 350.

The stock, traded around Rs 380 at present, can move on to Rs 430 - 440 even over a medium term.

11:04 AM: The market may see a few relief rallies in the near run.

But it looks well on course to re-test the lows it had touched in October last year as global economy is likely to reel under pressure for a major part of Year 2009 - 2010.

10:57: One can stay invested in telecom stocks Bharti Airtel, RComm and Idea Cellular.

Though some weak spells are not ruled out in the near run, the long term prospects for these stocks remain fairly bright.

Reliance: Scrip may touch...

10:50 AM: The Nifty (2780) will have to break a resistance at 2795 to make a strong move up north today.

It has some support at 2760 and a pronounced weakness at that level can result in a fall to 2735 or further down.

10:44 AM: SAIL (Rs 84) can be picked up for medium to long term.

A stop loss trigger can be placed around Rs 70.

JSW Steel, Tata Steel and Jindal Steel can also be considered for long term.

10:37 AM: Investors holding Siemens can sell a part of it at Rs 223 - 225.

Intra-Day: Sell ICICI Bank, DLF, SBI at...

The stock is likely to see some downside in the near run. One can re-enter the counter around Rs 185 - 190.

10:30 AM: Zee Entertainment (Rs 114.20) can be retained for long term with a stop loss around Rs 90.

One can consider some fresh exposure at current levels or around Rs 105.

10:17 AM: Moser Baer (Rs 57) looks attractive at current levels.

One can buy the stock and retain it with a stop loss at Rs 50 for now. More buying can be considered at declines from here.

10:11 AM: KEC International Limited has bagged new Rural Electrification & Transmission Orders worth Rs 365 crore.

The stock, traded around Rs 140, can be retained as long term investment. Investors looking at fresh exposure at the counter, can go in for it now or at slightly lower levels. A stop loss can be placed near Rs 110.

10:06 AM: After opening on a negative note, the market has recovered well and is up in the positive zone now.

ONGC, Ranbaxy, RComm, TCS and Wipro, RIL and Infosys have bounced back and contributed to the recovery.

The Sensex is up 33.33 points at 9068.33 now. The Nifty has gained 16.35 points at 2786.85.

9:58 AM: Taking global cues, the market has opened on a weak note this morning.

The Sensex slipped to a low of 8922.31 in opening trade and is down with a loss of 30.40 points at 9044.60 at present.

The Nifty is down marginally (by 3 points) at 2767.50 after touching a low of 2736.55.

Ambuja Cements, Idea Cellular, BPCL, Ranbaxy, TCS, RIL, Sun Pharma and Suzlon have surged higher.

DLF, HDFC, Tata Comm, PNB, Grasim, ICICI Bank and Hindalco have declined sharply.