Monday, March 23, 2009

Indian Share Market Voices 23-03-09



These are interesting times and the market is resoundingly confirming that the trend is up, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Now Nifty will have resistance at every rise, 2950-3100, he says. But wait for dips to buy and stay long, he adds.  

The bulls seem to have got a foot in the door, says Dipan Mehta, BSE/NSE Member, on CNBC-TV18. After several months of sideways moves the market has broken out in the positive, he feels. This could be the beginning of a trend reversal as seems like FIIs are buying into the market, he adds.  

India outperformed its global peers to close at the highs of the day. Sensex closed at 9453, up 486 points (provisional)and Nifty at 2946, up 139 points (provisional) from the previous close. CNX Midcap index was up 3% and BSE Smallcap index was up 2.07%. The market breadth was positive with advances at 910 against declines of 298 on the NSE.  

Carry forward Nifty long positions with a target of 2970-3050, says Anil Maghnani, technical analyst, on CNBC TV18, as closing market strategy.  

Hold on to Nifty longs with a stop loss of Rs 2840, says E Mathew, technical analyst, on CNBC TV18, as closing market strategy. Buy Suzlon with a target of Rs 71 and stop loss of Rs 36, he adds. 

Buy Nifty March Futures with a target of 2950 and stop loss of Rs 2800, says prakashgaba.com on CNBC Awaaz, as closing market strategy.  

Hold Nifty long positions with a target of 2965 and stop loss of Rs 2880, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy. 

Hold Tata Steel with a target of Rs 219-262 and stop loss of Rs 170, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 197, up 5.5% on the BSE. 

Hold Tata Steel with a target of Rs 270 where one can book profits, says Anil Maghnani, technical analyst, on Zee Business. The stock is currently trading at Rs 197, up 5.5% on the BSE. 

The market is surging ahead and looking very good. Sensex is trading at 9385, up 418 points and Nifty is at 2931, up 124 points from the previous close. CNX Midcap index is up 3.04% and BSE Smallcap index is up 1.87%. The market breadth is positive with advances at 900 against declines of 304 on the NSE. 

Nifty range is now likely to be around 2600-3100 until elections, reports Emkay Securities, on CNBC TV18. Donÿt see significant risk appetite for an upside break. Their top picks in the auto space are Maruti Suzuki and Hero Honda.  

Buy JSW Steel with a target of Rs 210-219 and stop loss of Rs 187, says Tejas Nandu of Unicorn Investments, on CNBC Awaaz. The stock is currently trading at Rs 200, up 7% on the BSE.  

Subhash Projects has bagged orders worth Rs 492 crore, reports CNBC TV18. The stock is currently trading at Rs 52, up 11.5% on the BSE.  

Buy PNB with a target of Rs 367-400 and stop loss of Rs 343, says Tejas Nandu of Unicorn Investments, on CNBC Awaaz. The stock is currently trading at Rs 356, up 6.9% on the BSE. 

Buy Opto Circuits with a target of Rs 150 in the long term, says Sanjeev Panda of Karvy Stock Broking, on CNBC Awaaz. The stock is currently trading at Rs 83, up 0.6% on the BSE.  

Buy Canara Bank with a target of Rs 154-157 and stop loss of Rs 146, says Tejas Nandu of Unicorn Investments, on CNBC Awaaz. The stock is currently trading at Rs 151, up 2.5% on the BSE. 

Emerging markets reserves and growth are in a better shape, feels Mark Mobius of Templeton Asset Management on NDTV Profit. The next bull market rally has begun and there are bargains in every emerging market following record lows in stocks, he adds.  

The Asian markets are looking good on news of Japanese government mulling a stimulus package. The European markets have opened in the positive. Good global cues see our market rally firmly. Sensex is trading at 9300, up 333 points and Nifty is at 2908, up 101 points from the previous close. CNX Midcap index is up 1.61% and BSE Smallcap index is up 1.50%. The market breadth is positive with advances at 884 against declines of 299 on the NSE.  

Hold Apollo Tyres with a target of Rs 24-25 where one can book partial profits, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 17, down 0.3% on the BSE.  

SMC Global Securities maintains a buy call on Jindal Saw with a target of Rs 225 and stop loss of Rs 135, reports CNBC Awaaz. The stock is currently trading at Rs 168, up 7.7% on the BSE. 

Buy Punj Lloyd on dips if the market corrects, it has a target of Rs 100-110, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 82, up 2.06% on the BSE.  

Crnindia.com maintains a buy call on Amtek Auto with a target of Rs 86 and stop loss of Rs 75, reports CNBC Awaaz. The stock is currently trading at Rs 78, down 0.51% on the BSE.  

Exit Chambal Fertilisers on a rally and switch to the power sector for the long term, says MB Singh, technical analyst, on Zee Business. In the power space, his top picks for excellent returns are Power Grid, NTPC, REC International and GVK Power.  

The Asian markets are trading in the positive. The Indian market is seeing a strong session and market nearly at the dayÿs high. Sensex is trading at 9280, up 313 points and Nifty is at 2901, up 94 points from the previous close. CNX Midcap index is up 1.11% and BSE Smallcap index is up 1.41%. There is buying in metals, oil and gas and banking stocks. The market breadth is positive with advances at 886 against declines of 281 on the NSE.  

Short-term traders can take long position in Tata Motors with target of Rs 180-185, says Hemen Kapadia, technical analyst, on NDTV Profit. The stock is currently trading at Rs 166, up 3.2% on the BSE.  

Hold Exide Industries with stop loss of Rs 34, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. It has support at Rs 34-37 and resistance at Rs 42-44, he adds. The stock is currently trading at Rs 38.85, up 0.1% on the BSE.  

Real estate sector is definitely not a buy now, says PN Vijay, portfolio manager, on CNBC TV18. The reason is oversupply and cash problems in the sector. He believes that auto and banking, the other two rate-sensitive counters, appear to be much more attractive in terms of risk-reward ratios. 

Buy Sterlite Industries with target of Rs 346, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 300, he adds. The stock is currently trading at Rs 336.65, up 6.7% on the BSE. 

Hold Mahindra & Mahindra with stop loss of Rs 346, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. Book profits in the range of Rs 384-412, he adds. The stock is currently trading at Rs 364.70, up 2.5% on the BSE. 

Nifty could close this series around 2700, says Tushar Mahajan of Edelweiss Securities on CNBC TV18. Metals are witnessing a build-up with a positive bias and banks continue to be driven by short covering, he adds. He thinks that ONGC stands out with its price action and Open Interest build-up. 

Buy Hero Honda with targets of Rs 1029 and 1037, says Rajat Bose, technical analyst, on CNBC TV18. Keep stop loss below Rs 996, he adds. The stock is currently trading at Rs 1011.40, up 1.5% on the BSE.  

Stay away from ABB and Siemens, says Rajesh Tambe of Sunchan Securities on Zee Business. Instead invest in BHEL which is fundamentally strong, he adds.  

At noon the market continues to consolidate on its morning's gains. The Nifty is gradually inching towards the 2900 mark. Buying continues in metal, telecom, technology, banking and auto stocks. Nano's launch later today has created renewed interest in Tata Motors. Sensex is trading at 9239, up 272 points from its previous close, and Nifty is at 2896, up 89 points. CNX Midcap index is up 1.1% and BSE Smallcap index is up 1.5%. The market breadth is positive with advances at 855 against declines of 280 on the NSE.  

The market will be largely driven by global cues in the near term, says Shashank Khade of Kotak Securities on CNBC TV18. He expects to see some volatility this week due to expiry. Consensus is bearish ahead of the elections and it would be a good time to buy in case of a correction, he adds.  

Hold Spice Communications and exit when it reaches Rs 72-73, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 66.70, up 11.3% on the BSE.  

The macro fundamentals have improved in the past two weeks, says PN Vijay, portfolio manager, on CNBC TV18. He believes the macro fundamentals right now are more conducive to equity than anytime since October 2008. He feels a near 0% inflation would give room to the Reserve Bank to cut interest rates further.  

Hold GVK Power with target of Rs 25, says Ramesh Arora, technical analyst, on Zee Business. Keep stop loss of Rs 19.50, he adds. The stock is currently trading at Rs 21.30, up 0.2% on the BSE.  

Buy Hexaware at around Rs 21-23 and exit at higher levels, says Ashwani Gujral, technical analyst, on CNBC TV18. It has resistance at Rs 42 and is trading in the range of Rs 20-40, he adds. The stock is currently trading at Rs 26.40, down 0.6% on the BSE.  

Book profit in Cairn India and fresh investors stay away, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 183.35, up 4.1% on the BSE.  

Hold SREI Infra with target of Rs 36, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. Keep stop loss of Rs 28, he adds. The stock is currently trading at Rs 32.65, up 2.2% on the BSE. 

An hour into opening, the market is showing a strong rally with metal stocks trading firm. Buying is also seen in capital goods, telecom and technology sectors. Sensex is trading at 9194, up 228 points from its previous close, and Nifty is at 2880, up 74 points. CNX Midcap index is up 1.1% and BSE Smallcap index is up 1.4%. The market breadth is positive with advances at 786 against declines of 287 on the NSE. 

Hold Punj Lloyd with target of Rs 89-90, says Ramesh Arora, technical analyst, on Zee Business. Keep stop loss of Rs 76, he adds. The stock is currently trading at Rs 82.25, up 2% on the BSE. 

Sell Axis Bank up to Rs 350 with stop loss of Rs 356, says Rajat Bose, technical analyst, on CNBC TV18. Keep targets of Rs 341, 337 and 334, he adds. The stock is currently trading at Rs 348.50, 1.6% on the BSE.  

Investors buy S Kumars with target of Rs 18 and stop loss of Rs 14.50, says Anil Singhvi, market expert, on CNBC Awaaz. The stock is currently trading at Rs 15.85, up 6.02% on the BSE.  

Only aggressive traders hold Everonn Systems with target of Rs 155-160, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. Keep stop loss of Rs 125, he adds. The stock is currently trading at Rs 141.40, up 1.2% on the BSE.  » 

Sell L&T with target of Rs 560, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 605, she adds. The stock is currently trading at Rs 596.70, up 2% on the BSE.  

Traders may buy Gujarat NRE Coke with target of Rs 25, says Ramesh Arora, technical analyst, on Zee Business. Keep stop loss of Rs 18, he adds. The stock is currently trading at Rs 21.20, up 1.4% on the BSE.  

Buy Mahindra & Mahindra at Rs 355 with target of Rs 372, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 346, she adds. The stock is currently trading at Rs 367.25, up 3.3% on the BSE. 

Investors hold Tata Motors with target of Rs 175 and stop loss of Rs 155, says Anil Singhvi, market expert, on CNBC Awaaz. Traders buy for small gains with stop loss of Rs 155, he adds. The stock is currently trading at Rs 169.90, up 5.6% on the BSE. 

Exit Akruti City and fresh investors and traders stay away, says VK Sharma of Anagram Stock Broking, on CNBC TV18. The stock is currently trading at Rs 1425, down 11.4% on the BSE.  

The market opens on a good note today and it is good start to trade. Asian markets see some good buying and so global cues are positive today. Sensex is trading at 9121, up 155 points from its previous close, and Nifty is at 2854, up 48 points. CNX Midcap index is up 0.4% and BSE Smallcap index is up 1%. The market breadth is positive with advances at 399 against declines of 73 on the NSE. 

If stock opens weak then traders sell DLF with target of Rs 165, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 175, he adds. The stock is at Rs 171.10, down 1.3% on the BSE. 

The market may open gap-up today and then will flatten out, says Ashwani Gujral, technical analyst, on CNBC TV18. The key turning point is between 2830-2860 and Indian market will depend on how the US market performs, he adds. The crucial level will be 2870, he says. Play for the day but you will have to watch out tomorrow, he cautions.

Nifty has support at 2700-2730, says Rahul Mohindar, technical analyst, on CNBC TV18. Go long with small stop loss and target of 3050, he adds. He expects focus to be on auto and steel stocks.  »

Nifty may open at 2815-2820, says Rajat Bose, technical analyst, on CNBC TV18. He sees resistance at 2825. The crucial zone for supply is seen between 2835-2859, he adds. He advises selling at higher levels.