Monday, March 9, 2009

Market Voices 09-03-09



3:50 PM - Buy Marico with a target of Rs 73 and stop loss of Rs 56, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. The stock is currently trading at Rs 60, up 2.97% on the BSE.  

The banking index has broken and it could head 25% lower, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. BoB, BoI and Axis Bank could go lower by another 20-30%, he adds. BSE Bankex is down 2.7%.  

It would be fair to say that March will be a rough month, says Sanjay Sinha of Chola Mandalam MF, on CNBC TV18. Banking and FMCG sectors have collapsed now, he says. The market is so battered and bruised, it seems like the last stage of the bear market which is one of fear and apathy, he says. It is the right time to accumulate stocks now for the long term for good gains, he adds. 

It was a terrible beginning to a truncated week (Tuesday and Wednesday being holidays for the Indian market) as the market closed weak. Sensex closed at 8179, down 146 points (provisional) and Nifty at 2577, down 42 points (provisional) from the previous close. CNX Midcap index was down 1.45% and BSE Smallcap index was down 1.58%. There was selling in banking, realty and FMCG stocks. The market breadth was negative with advances at 351 against declines of 847 on the NSE. 

HEM Securities maintains a sell call on Bank of Baroda with a target of Rs 176 and stop loss of Rs 198, reports CNBC Awaaz. The stock is currently trading at Rs 185, down 4.3% on the BSE.  

This is a bear market with the intermediate trend being down, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. The market does not have the smallest sign of strength, he says. Unless a miracle occurs, Nifty will break 2500 and then it's a free fall downwards, he adds.  

Sell on rallies with Nifty target of 2405-2460 and stop loss of 2665, says E Mathew, technical analyst, on CNBC-TV18, as closing market strategy.  

Maintain Nifty shorts with a target of 2500 and stop loss of 2620, says Vijay Bhabwani, technical analyst, on CNBC-TV18, as closing market strategy.  

We see zero to negative industrial production in January 2009, says Chetan Ahya of Morgan Stanley on CNBC TV18. GDP may bottom around 3.5-4% levels in June and September 2009, he feels. Credit growth may fall to 10% by December 2009 versus the 19% now, he adds. The 10-year bond yield is seen at 5.5%, he adds.  

Valuations are most attractive for the long term in this market, says Motilal Oswal, chairman of Motilal Oswal Financial Services Ltd, on NDTV Profit. This is a good time for investors to go bargain hunting and accumulate stocks for the long term, he adds.  

The market is likely to continue to drift downwards until elections, says Dharmesh Pancholi, market expert, on Zee Business. There are no positive triggers from global markets to take our market higher, he says. In fact, global markets could have a negative surprise in store and that could take our market much lower, he adds.  

The market is seeing a small pullback. Sensex is trading at 8152, down 171 points and Nifty is at 2570, down 49 points from the previous close. CNX Midcap index is down 1.50% and BSE Smallcap index is down 1.55%. The market breadth is negative with advances at 335 against declines of 846 on the NSE.  

Buy Maruti Suzuki with a target of Rs 730 and stop loss of Rs 540, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. The stock is currently trading at Rs 646, down 0.34% on the BSE.  » Send to friends

2:41 PM - HEM Securities maintains a sell call on Maruti Suzuki with a target of Rs 603 and stop loss of Rs 660, reports CNBC Awaaz. The stock is currently trading at Rs 646, down 0.34% on the BSE. 

Buy Mphasis with a target of Rs 210 and stop loss of Rs 145, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. The stock is currently trading at Rs 177, down 3.08% on the BSE. 

SMC Global maintains a buy call on Birla Corporation with a target of Rs 174 and stop loss of Rs 158, reports CNBC Awaaz. The stock is currently trading at Rs 162, down 0.92% on the BSE. 

The US markets are likely to continue to fall and India too is expected to see further lows, says S Naren of ICICI Prudential AMC on NDTV Profit. This market is offering the best opportunity to invest for the long term in such times, he adds.  

We are in a bear market and if Nifty breaks 2500, the market is likely to re-test the October lows, says Sudhanshu Pandey, technical analyst with LKP Shares, on CNBC Awaaz. Nifty has resistance at 2670, he says. Use every bounce as an opportunity to sell, he adds.  

The European markets are trading weak. Poor global cues are seeing the Indian market trade lower. Sensex is trading at 8141, down 183 points and Nifty is at 2564, down 55 points from the previous close. CNX Midcap index is down 1.25% and BSE Smallcap index is down 1.29%. The market breadth is negative with advances at 338 against declines of 816 on the NSE.  

Crnindia.com maintains a buy call on Cairn India with a target of Rs 174 and stop loss of Rs 157, reports CNBC Awaaz. The stock is currently trading at Rs 163, up 1.9% on the BSE.  » Send to friends

1:50 PM - GVK Power is looking weak and could go down further, says MB Singh, technical analyst, on Zee Business. Buy the stock around Rs 12-13 and average any existing stock, he adds. It is currently trading at Rs 18, down 1.37% on the BSE.  » Send to friends

1:41 PM - SMC Global maintains a buy call on Hinidustan Zinc with a target of Rs 420 and stop loss of Rs 315, reports CNBC Awaaz. The stock is currently trading at Rs 355, up 0.87% on the BSE.  

Sell Kalapataru Power in any rally, it has resistance at Rs 303-304, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 242, up 6.7% on the BSE.  

Kalapataru Power has bagged an order of Rs 385 crore, reports Zee Business. The stock is currently trading at Rs 242, up 6.7% on the BSE.  

The worst is not yet over and there is more downside likely in the market and economy, says Devina Mehra of First Global on CNBC TV18. Going forward, emerging markets and India are likely to be underperformers, she adds.  

The Asian markets are trading in the negative. The Indian market is seeing a weak session. Sensex is trading at 8200, down 125 points and Nifty is at 2581, down 39 points from the previous close. CNX Midcap index is down 0.94% and BSE Smallcap index is down 0.97%. The market breadth is negative with advances at 340 against declines of 805 on the NSE.  » Send to friends

1:00 PM - Exit Sobha Developers at around Rs 90-100, says Hardik Jain, technical analyst, on CNBC Awaaz. It has major resistance at Rs 89-90 and is not expected to go further up, he adds. The stock is currently trading at Rs 78.05, down 0.7% on the BSE.  » Send to friends

12:53 PM - Buy Satyam below Rs 40 and sell at around Rs 60, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 48.10, up 14.3% on the BSE.  

Buy ICICI Bank with short-term view, says Hemen Kapadia, technical analyst, on NDTV Profit. It may give 10-15% bounce in couple of weeks, he adds. It has support at Rs 258 and resistance at Rs 291, he says. The stock is currently trading at Rs 263, down 2.3% on the BSE.  

Sell Tata Steel with target of Rs 140, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 168, he adds. The stock is currently trading at Rs 154.20, down 1.7% on the BSE.  

Sell ITC on any bounce, says Hemen Kapadia, technical analyst, on NDTV Profit. It has resistance at Rs 172, he adds. The stock is currently trading at Rs 156.95, down 4.8% on the BSE.  

There is quite a bit of good opportunities in equity markets right now but that does not mean the global crisis is coming to an end, says Martin Hennecke of Tyche Group on CNBC TV18. He adds that US and Europe will get worse. He believes that there are some good opportunities in Asian financials, like in China and Singapore, but not in the West.  

Buy Infosys and L&T on dips, says VVLN Sastry of Firstcall India Equity Advisors, on NDTV Profit. The companies's fundamentals are good, he adds.  

Invest in Reliance Power, says Rajesh Tambe of Sunchan Securities on Zee Business. It will give major profits by 2012, he adds. The stock is currently trading at Rs 92.40, down 2.5% on the BSE.  

The market at noon sees continuous selling pressure. Banking and FMCG stocks appear to be the worst hit. Sensex is trading at 8140, down 184 points from its previous close, and Nifty is at 2561, down 56 points. CNX Midcap is down 1.04% and BSE Smallcap is down 1.02%. The market breadth is negative with advances at 305 against declines of 796 on the NSE.  

Buy Bombay Rayon with a short-term view, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 82 and resistance at Rs 109, he adds. The stock is currently trading at Rs 106.95, up 2.8% on the BSE.  

Do not invest in Suzlon Energy at the moment, says Rajesh Tambe of Sunchan Securities on Zee Business. However, those already invested may hold, he adds. The stock is currently trading at Rs 35.40, up 1.1% on the BSE.  

Buy SAIL on dips with intra-day target of Rs 84, says Sudhanshu Pandey, technical analyst with LKP Shares, on CNBC Awaaz. Keep stop loss below Rs 74, he adds. The stock is currently trading at Rs 74.80, down 2.5% on the BSE.  

Markets are substantially running to global cues such as the S&P breaking its lows, says PN Vijay, investment advisor, on CNBC TV18. He adds that the upsides is tough because of negative global cues. However, he thinks that improving domestic fundamentals are providing a base to the Indian markets. 

Make long positions on Bharti Airtel with targets of Rs 608, 612 and 618, says Rajat Bose, technical analyst, on CNBC TV18. The stock is currently trading at Rs 589, down 2.2% on the BSE.  

Buy HDFC at Rs 1220 with target of Rs 1259, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1195, she adds. The stock is currently trading at Rs 1252.40, up 2.4% on the BSE.  

Buy Ranbaxy at around Rs 125-130, says Pankaj Jain of Satguru Capitals on Zee Business. If the market stabilises then this stock will give returns of 25-30%, he adds. The stock is currently trading at Rs 140, down 0.9% on the BSE.  

Sell Satyam on any rally for gains of 20-30%, says Sandeep Shenoy of Pinc Research on CNBC Awaaz. The company's fundamentals are not going to improve in a hurry and will take a year at least, he adds. The stock is currently trading at Rs 48.10, up 14.3% on the BSE. 

An hour into opening, the market continues to look negative.The Asian markets are trading marginally in the green. Sensex is trading at 8204, down 121 points from its previous close, and Nifty is at 2586, down 33 points. Both CNX Midcap and BSE Smallcap indices are down 0.4%. The market breadth is negative with advances at 350 against declines of 684 on the NSE.  

Hold L&T with target of Rs 600, says Sudhanshu Pandey, technical analyst with LKP Shares, on CNBC Awaaz. Keep stop loss below Rs 568, he adds. The stock is currently trading at Rs 582.05, up 0.3% on the BSE.  

In the telecom sector buy only Reliance Communications and Idea Cellular, says Rajesh Tambe of Sunchan Securities on Zee Business. The stocks are currently trading at Rs 136.05, down 1.3%, and Rs 45.40, down 0.4%, on the BSE respectively.  

Nifty could break the 2500 support this week, says Ashwani Gujral, technical analyst, on CNBC TV18. He advises investors to not buy into rallies now.  

Buy RPL at Rs 71 with target of Rs 73.75, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 69.90, she adds. The stock is currently trading at Rs 70.35, down 1.8% on the BSE.  

Hold long positions in ICICI Bank with target of Rs 283, says Sudhanshu Pandey, technical analyst with LKP Shares, on CNBC Awaaz. Keep stop loss below Rs 265, he adds. The stock is currently trading at Rs 269.80. up 0.2% on the BSE.  

Buy GMR Infra at Rs 69 with target of Rs 72, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 68, she adds. The stock is currently trading at Rs 69.90, up 0.4% on the BSE.  

Intra-day traders can go long on Tata Motors with target of Rs 143-148, says Sudhanshu Pandey, technical analyst with LKP Shares, on CNBC Awaaz. Keep stop loss below Rs 135, he adds. The stock is currently trading at Rs 137.60, down 0.7% on the BSE.  

Only aggressive traders buy Pyramid Saimira with target of Rs 17, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 14, he adds. The stock is currently trading at Rs 15.90, up 5% on the BSE. 

The market has quite a flat opening with some power and metal stocks dragging the indices down. The Asian markets are trading mixed while the US market had a flat closing on Friday. Sensex is trading at 8227, down 98 points from its previous close, and Nifty is at 2592, down 27points. CNX Midcap index is down 0.2% and BSE Smallcap index is down 0.8%. The market breadth is negative with advances at 102 against declines of 277 on the NSE.  

Nifty may open at 2600 and 2610 is the crucial level, says Rajat Bose, technical analyst, on CNBC TV18. He sees support for Nifty at 2506, 2539 and 2573 and resistance at 2634-2642.  

Market may have flat to positive opening, says Ashwani Gujral, technical analyst, on CNBC TV18. He sees support for Nifty at 2560-2580 and resistance at 2680-2700. He adds that since global markets are not firm therefore Nifty may drift lower. He advises traders to go short near the resistance levels.  

The market is likely to remain range bound with a negative bias due to lack of fresh triggers, says Vibhav Kapoor of IL&FS on CNBC TV18. He sees the near-term range for the Nifty between 2,300-2,800.  

The range for the Nifty is seen between 2,540-2,670, says VK Sharma of Anagram Stock Broking on CNBC TV18. He adds that positions in large cap stocks have been reduced and this is likely to continue as it is a truncated trading week. He advises writing Nifty 2700 Calls.