Wednesday, February 25, 2009

Market Voices 25-02-09


It was a lackluster session for the market that ended flat on low volumes. Sensex shut shop at 8902, up 80 points and Nifty at 2762, up 28 points from the previous close. CNX Midcap index was up 0.37% and BSE Smallcap index was up 0.60%. The market breadth was positive with advances at 640 against declines of 532 on the NSE. Top Nifty gainers included Mahindra & Mahindra, Tata Motors and Siemens while losers included HDFC, Ranbaxy and DLF. Ahead of F&O expiry tomorrow the market is likely to see a dull and rangebound session, feels Vijay Bhambwani, technical analyst, on CNBC TV18. If global markets selloff, then Nifty could slide lower to 2700 levels, he adds. Going forward, the March series is likely to see higher volatility and nervousness, he feels. Buy Bartronics with a target of Rs 87-89 and stop loss of Rs 73, says Rajat Bose, technical analyst, on CNBC TV18. The stock is currently trading at Rs 76, up 1.19% on the BSE. Buy Satyam around Rs 29, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. The stock has a target of Rs 52-60 and a stop loss of Rs 40, he adds. The stock is currently trading at Rs 44, up 0.8% on the BSE. The March series is likely to be rangebound (F&O expiry tomorrow), feels Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. Nifty range could be 2700-3000 till elections, he adds. The volumes are likely to go down further while volatility could increase, he says. The closed flat today with IT, metals and oil and gas stocks holding up the index. Sensex closed at 8881, up 59 points (provisional) and Nifty at 2759, up 25 points (provisional) from the previous close. CNX Midcap index was up 0.40% and BSE Smallcap index was up 0.51%. The market breadth was positive with advances at 612 against declines of 554 on the NSE. Buy Century Textiles with a target of Rs 187-194 and stop loss of Rs 164, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 173, up 13.03% on the BSE. Buy 2800 March call (CMP 95) for a target of Rs 150 and stop loss of Rs 70, says Ashwani Gujral, technical analyst, on CNBC TV18, as closing market strategy. Maintain Nifty long for a target of 2825 and stop loss of 2735, says Rahul Mohindar, technical analyst, on CNBC TV18, as closing market strategy. Sell Pantaloon Retail on any rally, it looks weak and has a target of Rs 125-110, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 141, up 7.98% on the BSE. Buy Power Grid with a target of Rs 101-107 and stop loss of Rs 85, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 91, down 0.21% on the BSE. » Send to friends 3:05 PM - Nifty upside is 2850 and Sensex upside seems 9300, says Nappolian Pillai, technical analyst, on CNBC TV18. It is a slow and steady rise, offering an opportunity to exit on rally, he says. The market is then headed for a collapse, he adds. The market is holding on to its gains. Sensex is trading at 8931, up 108 points and Nifty is at 2768, up 34 points from the previous close. CNX Midcap index is up 0.90% and BSE Smallcap index is up 0.86%. The market breadth is positive with advances at 704 against declines of 446 on the NSE. » Send to friends 2:54 PM - In the pharma space, buy Lupin for a target of Rs 750 in 12-18 months, states a Brokers' Poll on Zee Business. The stock is currently trading at Rs 644, up 3.85% on the BSE. » Send to friends 2:45 PM - Hold Lupin with a target of Rs 650 after which it can see a fresh upmove to Rs 674, says Simi Bhaumik, technical analyst, on Zee Business. Buy the stock on dips for the long term, she adds. The stock is currently trading at Rs 644, up 3.85% on the BSE. » Send to friends 2:40 PM - Buy Cairn India with a target of Rs 170-182 and stop loss of Rs 150, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 161, up 3.86% on the BSE. BOA-Merrill Lynch maintains buy on Bombay Rayon with a target of Rs 225, reports CNBC TV18. The stock is currently trading at Rs 87, down 1.7% on the BSE. Buy ACC with a target of Rs 585-598 and stop loss of Rs 548, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 567, up 1.56% on the BSE. Hold Cipla with a target of Rs 195-210 where one can book profits and exit the stock, maintain a stop loss of Rs 185, says Salil Sharma of Kapoor & Sharma Company, on Zee Business. The stock is currently trading at Rs 186, up 0.4% on the BSE. Nifty range is 2670-2900 and we are in the middle of it now, says Rajat Bose, technical analyst, on CNBC TV18. If Nifty breaks strong support of 2600 then we could retest October lows, he says. Nifty needs to close above 3200 decisively to suggest a trend change, he adds. The European markets have opened in the positive. Positive global cues and a pullback rally are making the Indian market trade firm. Sensex is trading at 8967, up 144 points and Nifty is at 2779, up 45 points from the previous close. CNX Midcap index is up 1.50% and BSE Smallcap index is up 1.30%. The market breadth is positive with advances at 793 against declines of 347 on the NSE. L&T has bagged orders worth Rs 1438 crore, reports CNBC TV18. The stock is currently trading at Rs 630, up 0.81% on the BSE. Hold Hexaware with a target of Rs 29-30 where one can exit the stock and maintain a stop loss of Rs 22, says Salil Sharma of Kapoor & Sharma Company, on Zee Business. The stock is currently trading at Rs 24, up 3.33% on the BSE. Citi downgrades Tech Mahindra to sell with a target of Rs 245, reports CNBC TV18. The stock is currently trading at Rs 281, up 3.46% on the BSE. Buy Tata Communications with a target of Rs 405 and stop loss of Rs 387, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 397, up 1.9% on the BSE. Welspun Gujarat has bagged orders worth Rs 500 crore, reports CNBC TV18. The stock is currently trading at Rs 64, up 4.34% on the BSE. » Fiscal deficit seen at 10-10.5%, says Rajeev Malik of Macquaire Capital Services, on CNBC TV18. Government policy making needs to be more organised, he feels. More rate cuts are needed and government can afford to cut CRR by another 200 bps, he adds. The market is likely to be directionless till the elections, says Shanti Ekambaram of Kotak Mahindra Capital, on CNBC TV18. Fiscal deficit is likely to increase significantly post stimulus package, she says. Reduction in service tax to put some money in the hands of the industry, she adds. Deposits and loan rates are reducing slowly, she feels. The Asian markets are trading firm. The Indian market is in fine fettle. Sensex is trading at 8989, up 167 points and Nifty is at 2787, up 53 points from the previous close. CNX Midcap index is up 1.52% and BSE Smallcap index is up 1.34%. The market breadth is positive with advances at 824 against declines of 310 on the NSE. Buy Lupin with stop loss of Rs 570, says Neera Jain, technical analyst, on NDTV Profit. The stock is currently trading at Rs 637.50, up 2.4% on the BSE. Hold Tata Motors with target of Rs 185-187, says E Mathew, technical analyst, on CNBC TV18. Keep stop loss of Rs 118-125, he adds. A pull-back rally can take it up to Rs 153-158, he says. The stock is currently trading at Rs 137.55, up 4.1% on the BSE. Buy Ashok Leyland only in staggered fashion in lots of 25% in the next 3-4 quarters, says DD Sharma of Anand Rathi Securities on NDTV Profit. The stock is currently trading at Rs 15.53, up 3.5% on the BSE. Buy Ultratech Cement with stop loss of Rs 365, says E Mathew, technical analyst, on CNBC TV18. It can go up to Rs 442 and then Rs 460, he adds. The stock is currently trading at Rs 430.10, up 1.9% on the BSE. Buy ITC with stop loss below Rs 165, says Neera Jain, technical analyst, on NDTV Profit. The stock is currently trading at Rs 180.15, down 0.3% on the BSE. Buy Suzlon Energy at lower levels, says Sharmila Joshi of Systematix Shares on CNBC Awaaz. It is in an attractive level now, trading in the range of Rs 42-43 and Rs 45-49, she adds. The stock is currently trading at Rs 41.95, up 3.7% on the BSE. Good times are ahead for sugar companies, says PN Vijay, investment advisor, on CNBC TV18. They have got the pricing power back, he adds. He is bullish on sugar stocks. Hold L&T and book profits on rally, says Shahina Mukadam of IDBI Capital, on Zee Business. Buy more at lower levels, she adds. The stock is currently trading at Rs 631.05, up 1% on the BSE. The market at noon continues with its minor pull-back rally on the back of the fiscal moves and global cues of yesterday. It is currently at its highest point of the day. Sensex is trading at 8958, up 136 points from its previous close, and Nifty is at 2778, up 45 points. CNX Midcap index is up 1.6% and BSE Smallcap index is up 1.5%. The market breadth is positive with advances at 833 against declines of 262 on the NSE. xit from SBI, says Ashish Kukreja, market expert, on Zee Business. Instead invest in stocks like Bank of Baroda and Union Bank, he adds. The stock is currently trading at Rs 1049.90, up 2.1% on the BSE. Buy Bharti Airtel with long-term view, says Sharmila Joshi of Systematix Shares on CNBC Awaaz. It will give 10-15% returns from the current levels, she adds. The stock is currently trading at Rs 652, up 2.1% on the BSE. Buy Syndicate Bank on dips, says Vikas Sethi, market expert, on CNBC Awaaz. Those already invested should hold, he adds. The stock is currently trading at Rs 52.20, down 0.5% on the BSE. Exit from Apollo Tyres at current levels, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. There is not much in this stock, he adds. The stock is currently trading at Rs 16 on the BSE. Buy Punj Lloyd if it moves above Rs 85, says Sudarshan Sukhani, technical analyst, on CNBC TV18. It will provide bottom fishing opportunity, he adds. The stock is currently trading at Rs 85.60, up 1.7% on the BSE. Traders can sell Dr Reddy's on rally at around Rs 450-465, says Anil Singhvi, market expert on CNBC Awaaz. Keep strict stop loss, he adds. The stock is currently trading at Rs 404.55, up 1.7% on the BSE. Buy Mahindra & Mahindra with stop loss of Rs 282, says E Mathew, technical analyst, on CNBC Awaaz. It has a short-term resistance at Rs 305 breaking which it might then go up to Rs 325, he adds. The stock is currently trading at Rs 312.50, up 6% on the BSE. An hour into opening, the Indian market continues to rally in the footsteps of its Asian peers. Most of the Asian market indices are in the green, though Shanghai is still struggling in the red. Sensex is trading at 8973, up 151 points from its previous close, and Nifty is at 2781, up 47 points. CNX Midcap index is up 1.8% and BSE Smallcap index is up 1.4%. The market breadth is positive with advances at 806 against declines of 230 on the NSE. Buy Bank of India with target of Rs 260, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 210, he adds. The stock is currently trading at Rs 225, up 1.7% on the BSE. Stocks like Ashok Leyland and Tata Motors see an upsurge after announcement of reduction in truck prices by the companies, reports CNBC Awaaz. Ashok Leyland has announced a cut of Rs 16000 and Tata Motors cut of 2% in their truck prices, respectively. The stocks are currently trading at Rs 15.47, up 3.1%, and Rs 138, up 4.5%, respectively, on the BSE. Buy BHEL around Rs 1320, says Pradeep Surekha, technical analyst, on Zee Business. There will be good trading opportunity at around Rs 1400-1420, he adds. The stock is currently trading at Rs 1383.35, up 1.6% on the BSE. Book profits on rally in Nitco Tiles, says Vikas Sethi, market expert, on CNBC Awaaz. The stock is currently trading at Rs 29.80, down 9% on the BSE. Buy REC Ltd in staggered fashion when it reaches Rs 72-73, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of around 10-15%, he adds. The stock is currently trading at Rs 79, up 1.9% on the BSE. Buy ACC at Rs 558 with target of Rs 572, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 546, she adds. The stock is currently trading at Rs 563.50, up 0.8% on the BSE. Buy Maruti at Rs 641 with target of Rs 658, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 628, she adds. The stock is currently trading at Rs 650.40, up 1.3% on the BSE. Hold Power Grid which is good on the charts and trading in the range of Rs 80-90, says Pradeep Surekha, technical analyst, on Zee Business. It has resistance at Rs 92 breaking which it might go up to Rs 105, he adds. Keep stop loss of below Rs 80, he says. The stock is currently trading at Rs 91.25, down 0.5% on the BSE. As expected the market opens in the green. This is following a bounce-back seen in its global peers after promise of a bail out by US President Barack Obama. Heavyweight stocks which saw a fall yesterday opened in the green this morning. Sensex is trading at 8946, up 127 points from its previous close, and Nifty is at 2766, up 32 points. CNX Midcap index is up 1.3% and BSE Smallcap index is up 1%. The market breadth is positive with advances at 414 against declines of 56 on the NSE. Investors should stay away from buying in this market, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. This market is only for traders, he adds. The pain is still not over and this is only a temporary rally, he says. Market may see some rally today, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Traders can go long with stop loss of 20-30 points below their entry level, he adds. Key level of resistance will be 2800, he says. Market will have a positive opening today on account of bounce bank seen in global markets, says Ashwani Gujral, technical analyst, on CNBC TV18. He sees support for Nifty at 2700-2730 and resistance at 2800-2830. The market is likely to open higher with 2800 acting as strong resistance as lots calls have been written at this level, says VK Sharma of Anagram Stock Broking, on CNBC TV18. Shorting has been seen in bank stocks, he adds. -------- Bought to you by Intelligent Investor Investment Advisory division of Ravina Consulting No.429 Mahavir Tuscan Hoodi Circle, Whitefield Mahadevapura Post BANGALORE 560048 Mobile 9880080321 www.ravinaconsultants.com