Thursday, March 26, 2009

Indian Share Market Voices 26-03-09

Positive global cues saw our market post a spectacular session on F&O expiry day today. Sensex crossed 10,000 for first time since January 6, 2008. The rally was led by large caps, capital goods, power, metal and banking stocks. Experts feel it is time to book partial profits as the rally has some more steam but it could trend lower next week, though not crash. Sensex shut shop at 10003, up 335 points and Nifty at 3082, up 97 points from the previous close. CNX Midcap index was up 0.69% and BSE Smallcap index was up 0.59%. The market breadth was positive with advances at 739 against declines of 472 on the NSE. Top Nifty gainers included Tata Motors, Unitech and L&T while losers included Ranbaxy, HCL Technologies and Power Grid.  

Buy Titan Industries with a target of Rs 800-825 and stop loss of Rs 750, says Nitin Murarka of SMC Global, on Zee Business. The stock is currently trading at Rs 752, up 2.2% on the BSE. 

Buy Crompton Greaves with a target of Rs 140 and stop loss of Rs 105, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 120, up 14.10% on the BSE.  

Buy DLF with a target of Rs 178-200-210 and stop loss of Rs 160, says Nitin Murarka of SMC Global, on Zee Business. The stock is currently trading at Rs 176, down 0.3% on the BSE.  

The market looks good to rally and Nifty could go to 3100-3120, says Amit Dalal of Amit Nalin Securities on CNBC TV18. The market is unlikely to crash after this big rally and may move sideways into a dull range for some time, he feels. From now on, its sell into the rally, he adds. After that the market could make newer highs in the next 10 days, he says. 

It was an excellent day for our market with large caps putting up a good show. Sensex closed at 9936, up 269 points (provisional) and Nifty at 3056, up 72 points (provisional) from the previous close. CNX Midcap index was down 0.49% and BSE Smallcap index was up 0.37%. The market breadth was positive with advances at 707 against declines of 502 on the NSE. 

Book profits on Nifty longs at 3100-3150, says E Mathew, technical analyst, on CNBC Awaaz, as closing market strategy.  Book profits on longs, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.   Take long positions in Nifty April futures, says Rajat Bose, technical analyst, on CNBC Awaaz, as closing market strategy. Go long on JP Associates and TTML, he adds. 

Buy Canara Bank with a target of Rs 169 and stop loss of Rs 155, says prakashgaba.com, on CNBC Awaaz, as closing market strategy. 

Buy Glenmark Pharma with a target of Rs 200 and stop loss of Rs 140, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 151, up 1.34% on the BSE. 

Nifty downside support is 2850 and upside at 3150 where there could be fresh supply, feels Siddharth Bhamre of Angel Broking on Zee Business. This is not a market to go short, he feels. Do not sell on rises but wait and buy on dips in this market now, he adds. 

There is some more steam in this rally with Nifty support at 2700-2800 and Sensex support at 8000, says Ajay Bagga of Deutsche Bank on CNBC Awaaz. This rally could possibly take Nifty to 3200 and Sensex to 11000, he adds. Corporate earnings and elections are the only two domestic event risks for the market now, he feels.  

Positive global cues see our market post a spectacular session. Sensex is trading at 10050, up 382 points and Nifty is at 3102, up 117 points from the previous close. CNX Midcap index is up 1.70% and BSE Smallcap index is up 0.89%. The market breadth is positive with advances at 792 against declines of 406 on the NSE. 

Sensex crosses 10000, is trading at 10015, up 347 points from the previous close, reports Zee Business.  

Hold Punj Lloyd with a target of Rs 100, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 82, up 1.53% on the BSE. 

Buy GMR Infrastructure with a target of Rs 110 in 1-2 months and keep a stop loss of Rs 87, says Salil Kapoor, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 99, up 1.9% on the BSE. 

Buy DLF if it stays above Rs 167, it has a target of Rs 215-220, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 175, down 0.98% on the BSE. Buy DLF with a target of Rs 185, says Jatindar Sharma, technical analyst, on Zee Business. The stock is currently trading at Rs 175, down 0.98% on the BSE. 

To make a long-term portfolio for good returns, accumulate gradually stocks like RIL, Reliance Power, PTC, Praj Industries, Punj Lloyd and Reliance Capital, says Rajesh Tambe, technical analyst, on Zee Business. 

Buy Unitech with a target of Rs 40 and stop loss of Rs 33, says Nitin Murarka of SMC Global, on Zee Business. The stock is currently trading at Rs 35, up 1% on the BSE.  

Buy L&T with a target of Rs 700 in two days and stop loss of Rs 625, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 658, up 5.5% on the BSE.  

The European markets have opened in the positive. Our market continues to look good. Sensex is trading at 9849, up 182 points and Nifty is at 3033, up 48 points from the previous close. CNX Midcap index is up 1.37% and BSE Smallcap index is up 0.90%. The market breadth is positive with advances at 787 against declines of 389 on the NSE.  

Sell Maruti Suzuki with a target of Rs 700 and stop loss of Rs 770, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 755, up 2.9% on the BSE. Maruti Suzuki is not planning to cater to the segments Tata's Nano is targeting, says RC Bhargava, chairman of Maruti Udyog, on NDTV Profit. The company plans to launch one new model every year, he adds. The stock is currently trading at Rs 754, up 2.8% on the BSE.  

SMC Global Securities maintains a buy call on IVRCL Infrastructure with a target of Rs 160 and stop loss of Rs 109, reports CNBC Awaaz. The stock is currently trading at Rs 127, up 3.4% on the BSE.  

Hold Jaiprakash Associates with a target of Rs 95-100 and stop loss of Rs 60, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 84, up 0.30% on the BSE.  

Sell BGR Energy on a rally with a target of Rs 150, says Hitendra Vasudev of stockmechanics.com, on CNBC Awaaz. The stock is currently trading at Rs 141, up 4% on the BSE.  

Take out long positions above 3080 for Nifty, says Mitesh Thakker, technical analyst, on CNBC TV18. Nifty will see strong supply at 3120-3150, he feels. Market is likely to correct and consolidate before moving up again, he adds.  

Buy Biocon if it sustains above Rs 135 for two days it has a target of Rs 175-180, says Jatindar Sharma, technical analyst, on Zee Business. The stock is currently trading at Rs 135, up 0.81% on the BSE.  »

The Asian markets are trading smart. Good global cues see a strong session for our market and traders are approaching April with optimism. Sensex is trading at 9832, up 164 points and Nifty is at 3027, up 43 points from the previous close. CNX Midcap index is up 1.03% and BSE Smallcap index is up 0.96%. The market breadth is positive with advances at 770 against declines of 382 on the NSE.  

Buy Axis Bank with target of Rs 758, says Hitesh Agarwal of Angel Broking on CNBC Awaaz. It is expected to give returns of 90% from current levels, he adds. The stock is currently trading at Rs 419.35, up 5.4% on the BSE. 

Hold Ranbaxy with target of Rs 172-200, says Mandar Jamsandekar, technical analyst, on NDTV Profit. Keep stop loss of Rs 130, he adds. The stock is currently trading at Rs 161, down 1.1% on the BSE. 

Buy Suzlon Energy with target of Rs 60, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 39, he adds. The stock is currently trading at Rs 45.10, up 0.5% on the BSE. 

Buy TCS with target of Rs 578, says Hitesh Agarwal of Angel Broking on CNBC Awaaz. It is expected to give returns of 10% from current levels, he adds. The stock is currently trading at Rs 537, up 2.1% on the BSE.  

Hold Dena Bank and book profit at Rs 38-39 levels, says MB Singh, technical analyst, on Zee Business. Buy again on dips, he adds. The stock is currently trading at Rs 33.15, up 2% on the BSE.  

Hold S Kumars and exit when it reaches Rs 25-26, says Ashwani Gujral, technical analyst, on CNBC Awaaz. There is not much potential in this stock, he adds. The stock is currently trading at Rs 17.85, up 14.4% on the BSE.  

Buy Ranbaxy at around Rs 170 with target of Rs 200, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 160, he adds. The stock is currently trading at Rs 161.30, down 0.9% on the BSE. 

At noon, the market continues to rally, consolidating on its morning's gains. Asian markets are trading firm, too. Sensex is trading at 9845, up 177 points from its previous close, and Nifty is at 3031, up 47 points. CNX Midcap index is up 1.1% and BSE Smallcap index is up 1%. The market breadth is positive with advances at 757 against declines of 371 on the NSE.  

WPI for all commodities up 0.1% at 227 (WoW), reports NDTV Profit. Manufacturing index up 0.2% (WoW) and Primary Articles index up marginally at 245.6 (WoW), it adds. 

Inflation figure for week ended March 14 has been declared at 0.27% versus the earlier figure of 0.44%, reports NDTV Profit.  

Buy Bharti Airtel with target of Rs 781, says Hitesh Agarwal of Angel Broking on CNBC Awaaz. It is expected to give returns of 30% from current levels, he adds. The stock is currently trading at Rs  

Buy Reliance Industries for long position with target of Rs 1750-1760, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 1465, he adds. The stock is currently trading at Rs 1543.80, up 0.7% on the BSE.  

Buy PNB, BOB, BOI and ICICI Bank on dips, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. Stay away from SBI, he adds.  

Buy Bharti Airtel on dips, says Rahul Mohindar, technical analyst, on CNBC Awaaz. Keep medium-term targets of Rs 650 and 720, he adds. The stock is currently trading at Rs 588.40, down 0.5% on the BSE.  

Buy Unitech with short- or medium-term target of Rs 40-42, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss below Rs 30, she adds. The stock is currently trading at Rs 34.25, up 1% on the BSE.  

Sell Gokaldas Exports on any rally, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. Fresh investors stay away, he adds. The stock is currently trading at Rs 86, up 5.5% on the BSE.  

Buy Amtek Auto on dips for positional trade with target of Rs 88 in 2-3 weeks, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss below Rs 65, he adds. The stock is currently trading at Rs 72.55, up 3.1% on the BSE.  

An hour into opening, the market is trading in a tight range. It promises to be a volatile day ahead of the rollover. The US market had surged just before closing and the Asian markets are showing good rally, too. Sensex is trading at 9800, up 133 points from its previous close, and Nifty is at 3021, up 37 points. CNX Midcap index is up 0.9% and BSE Smallcap index is up 0.9%. The market breadth is positive with advances at 705 against declines of 366 on the NSE. 

Buy Satyam Computers on dips at around Rs 40, says Seshadri Bhartan, market expert, on CNBC Awaaz. Sell above Rs 50, he adds. The stock is currently trading at Rs 42.80, up 5.7% on the BSE.  

Sell Akruti City because it is a volatile stock, says Rahul Mohindar, technical analyst, on CNBC Awaaz. It can go down to Rs 1200 levels, he adds. The stock is currently trading at Rs 1397, down 23.4% on the BSE. 

Buy HDFC Bank with targets of Rs 1017 and 1029, says Rajat Bose, technical analyst, on CNBC TV18. Keep stop loss below Rs 948, he adds. The stock is currently trading at Rs 992.85, up 1.9% on the BSE.  

Hold Zee Entertainment which is in a recovery mode, says Simi Bhaumik, technical analyst, on Zee Business. Keep target of Rs 125-130, she adds. The stock is currently trading at Rs 104.50, up 0.4% on the BSE. 

Buy Biocon with targets of Rs 146 and 156, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 131, he adds. It is showing positive trend, he says. The stock is currently trading at Rs 138.30, up 1.4% on the BSE. 

Buy Unitech with target of Rs 38, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 32, he adds. The stock is currently trading at Rs 34.95, up 3.1% on the BSE.  

Buy JP Associates with target of Rs 95-99, says Simi Bhaumik, technical analyst, on Zee Business. It has resistance at Rs 87-88, she adds. The stock is currently trading at Rs 85.50, up 1.2% on the BSE.

Aggressive traders buy Gail for small gains and target of Rs 239, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 222, he adds. The stock is currently trading at Rs 232.85, down 0.4% on the BSE. 

Traders buy Sail on dips with intra-day target of Rs 99, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 91.50, he adds. The stock is currently trading at Rs 95.40, up 1.1% on the BSE.  

The market gets off to a reasonably good start today with the Nifty crossing the 3000 mark. The US markets had ended positive earlier in the day. Asian markets were trading firm, too. Sensex is trading at 9787, up 129 points from its previous close, and Nifty is at 3022, up 38 points. CNX Midcap index is up 1.5% and BSE Smallcap index is up 0.8%. The market breadth is positive with advances at 458 against declines of 80 on the NSE.  

Global markets are taking cue from minor improvements in the economies, says PN Vijay, portfolio manager, on CNBC TV18. The changing trend in US home sales data and domestic metal and auto sectors is a positive for the markets, but profit booking may be seen at higher levels, he adds.  

The range for the Nifty today will be between 2920-3048, says Ashwani Gujral, technical analyst, on CNBC TV18.  

The bulk of F&O volumes are coming from Nifty Options and that trend may continue, says Dipan Mehta, member of BSE/NSE on CNBC TV18. Market is still light and gradually Nifty Futures have turned into a premium, he adds. He thinks that final rollovers should be much stronger than last time. Banking stocks are likely to see long rollovers, he says.  

Nifty is unlikely to remain below 2950 and should cross the 3000 level, says Rajat Bose, technical analyst, on CNBC TV18. It has resistance at 3020 and major resistance at 3080-3110, he adds. He recommends buying on dips.