Tuesday, March 17, 2009

Market Voices 17-03-09

Media stocks are likely to buzz till elections and TV Today has a target of Rs 90-100 where one can book profits, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 75, up 4.19% on the BSE.  

Sell ICICI Bank with a target of Rs 302 and stop loss of Rs 342, says Hemen Kapadia, technical analyst on CNBC Awaaz. The stock is currently trading at Rs 323, up 0.2% on the BSE.  

Buy Everonn Systems in any correction around Rs 105 and it has a target of Rs 265, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 156, up 26% on the BSE.  Sell Everonn Systems with a target of Rs 160 where one can book profits, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 154, up 25% on the BSE.  

It was almost a flat close for our market today as it witnessed profit booking at higher levels. Sensex closed at 8861, down 81 points (provisional) and Nifty at 2756, down 20 points (provisional) from the previous close. CNX Midcap index was up 0.68% and BSE Smallcap index was up 0.44%. The market breadth was positive with advances at 602 against declines of 557 on the NSE. 

If Nifty goes below 2700 then close all positions, says Ashwani Gujral, technical analyst, on CNBC TV18, as closing market strategy. Book profits if Nifty goes above 2850, he adds. 

Close all Nifty positions, states bspindia.com on CNBC Awaaz, as closing market strategy.  

Short Nifty with a target is 2690 with a stop loss of 2780, says Devangshu Dutta, market expert, as closing market strategy.  

Book 50% profits in long positions, says Anil Maghnani, technical analyst, on CNBC-TV18, as closing market strategy. Nifty target is 2800 with a stop loss of 2640, he adds.  

Buy ABB with a target of Rs 391 and stop loss of Rs 361, says Hemen Kapadia, technical analyst on CNBC Awaaz. The stock is currently trading at Rs 366, down 0.2% on the BSE.  

This is a healthy correction and there is no reason to be worried unless Nifty corrects below 2600, says E Mathew, technical analyst, on CNBC Awaaz. Nifty has resistance at 2810-2830m he says. This is the first stage of a big bear market rally, he adds.  

There are generally two legs to any upward or downward rally, so there is still one more leg up possible now, says Ashwani Gujral, technical analyst, on CNBC TV18. In this leg, Nifty could go up to 2770-2900, he feels. It is best to book 50% profits in these rallies, he says. But a Nifty breakdown of 2500 is certainly possible, he adds.  

The Asian markets closed weak and European markets are trading in the negative. The Indian market is seeing profit booking at higher levels. Sensex is trading at 8865, down 77 points and Nifty is at 2758, down 18 points from the previous close. CNX Midcap index is up 0.61% and BSE Smallcap index is up 0.53%. The market breadth is positive with advances at 629 against declines of 530 on the NSE.  

Sell DLF on a rally with a target of Rs 175, says Alex Mathew of Geojit Financials, on CNBC Awaaz. The stock is currently trading at Rs 161, up 6% on the BSE.  

Buy Tata Power with a target of Rs 712 and stop loss of Rs 682, says Hemen Kapadia, technical analyst on CNBC Awaaz. The stock is currently trading at Rs 677, up 0.4% on the BSE.  

SMC Global maintains a buy call on Ashok Leyland with a target of Rs 21 and stop loss of Rs 15, reports CNBC Awaaz. The stock is currently trading at Rs 17, down 0.57% on the BSE.  

Buy Rolta with a target of Rs 60 and stop loss of Rs 48, says Hemen Kapadia, technical analyst on CNBC Awaaz. The stock is currently trading at Rs 52, up 16.7% on the BSE. 

The current global crisis is due to over consumption and lack of saving by the US, says Marc Faber, investment expert, on CNBC Awaaz. The Asian markets are big enough with 6.3 billion people to look for growth from within, he feels. They need to be less dependent on the US and on exports, he adds. The global rally is likely to end by April and then there could be a total collapse by the year end, he feels. It's a good time to accumulate equities in Asia now, he feels. Chinese economy is in a recession, he says. 

The fundamentals of our market look weak and if global cues show further weakness then the market could trend downwards, says Upendra Kulkarni of Fortress Financials, on CNBC Awaaz. Next week, our market could see a major correction across all sectors, he adds.  

The market is likely to be in a Nifty range of 2500-2800, says Ashwani Gujral, technical analyst, on CNBC Awaaz. On the higher side, Nifty has resistance at 2860-2900, he adds.  

The European markets have opened in the negative. The Indian market is under pressure. Sensex is trading at 8854, down 88 points and Nifty is at 2751, down 25 points from the previous close. CNX Midcap index is up 0.21% and BSE Smallcap index is up 0.30%. The market breadth is positive with advances at 618 against declines of 521 on the NSE. 

Sell Jet Airways on a rally, it does not have strength unless it closes above Rs 165-170, says Salil Sharma of Kapoor & Sharma Company, on Zee Business. Avoid the aviation sector, he adds. The stock is currently trading at Rs 155, up 4.12% on the BSE.  

Buy RIL with a target of Rs 1350-1400 for the short term, says Alex Mathew of Geojit Financials, on CNBC Awaaz. The stock is currently trading at Rs 1304, down 1.7% on the BSE.  

In the IT space, switch from any other stock and stay with Infosys as it is the best in this space, says Ashish Kukreja, technical analyst, on Zee Business. The stock is currently trading at Rs 1264, down 1.96% on the BSE. 

In the banking space, one can buy SBI, Axis Bank, PNB, ICICI Bank and HDFC Bank for short term gains as they could rally some more, says Alex Mathew of Geojit Financials, on CNBC Awaaz. In the banking space, accumulate UCO Bank, BoB and Bank of Rajasthan for long term gains, says Ashish Kukreja, technical analyst, on Zee Business.  » Send to friends

Sell WWIL on a rally with a target of Rs 18-20 and keep a stop loss of Rs 9.50, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 11, up 0.17% on the BSE. 

The Asian markets are surging ahead. The Indian market is slightly choppy and trending lower. Sensex is trading at 8810, down 32 points and Nifty is at 2771, down 5 points from the previous close. CNX Midcap index is up 0.71% and BSE Smallcap index is up 0.90%. The market breadth is positive with advances at 711 against declines of 434 on the NSE.  

Hold Aban Offshore for 3 years, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Buy more at current levels, he adds. The stock is currently trading at Rs 288.25, up 6.6% on the BSE.  

Hold Bartronics India and exit when it reaches Rs 90-100, says Neera Jain, technical analyst, on NDTV Profit. Investors may hold for 1-2 years, she adds. The stock is currently trading at Rs 70.80, up 3.9% on the BSE.  

Markets in India would revert to a mean, says PN Vijay, portfolio manager, on CNBC TV18. He sees the mean around 12000 levels from a 12-15 monthsÿ perspective and believes that markets would touch that level after elections. As of now, he sees markets consolidating in the current levels for a month or so.  

Buy LIC Housing with target of Rs 230, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 196, he adds. The stock is currently trading at Rs 205, down 0.9% on the BSE. 

Hold Mahindra & Mahindra with stop loss below Rs 310, says Neera Jain, technical analyst, on NDTV Profit. It is a strong stock with resistance at Rs 400, she adds. The stock is currently trading at Rs 378.50, up 1.2% on the BSE.  

Exit Mercator Lines at Rs 32-34, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It will take a long time to show a bigger upside and move up Rs 40, he adds. The stock is currently trading at Rs 26.45, up 13.3% on the BSE.  

The rally in US markets is likely to continue till April end, says Marc Faber, author of Gloom, Boom & Doom report, on CNBC TV18. But a total collapse is seen by year end, he adds. According to him, the S&P 500 is unlikely to hit lows below 666. Asian equities are likely to get cheaper versus the US so it is a good time to buy into these markets, he adds.  

Buy Power Grid on decline at around Rs 83-85, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It can go up to Rs 105, he adds. This stock is a market out-performer, he says. The stock is currently trading at Rs 97.50, up 1.7% on the BSE.  

Sell IDBI on rally, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 39 and resistance at Rs 55, he adds. The stock is currently trading at Rs 46.30, up 1.5% on the BSE.  

At noon the market continues to rally with both media and metal stocks shining. Major Asian markets too were seeing a similar kind of rally with both Nikkei and Hang Seng showing a good rise. Sensex is trading at 8993, up 46 points from its previous close, and Nifty is at 2794, up 17 points. CNX Midcap index is up 1.4% and BSE S

Traders hold Tata Power with stop loss of Rs 638-640, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. The stock is currently trading at Rs 694, up 2.9% on the BSE.  

Hold Tech Mahindra and buy more at Rs 230, says Nitin Murarka of SMC Global on Zee Business. It can go up to Rs 300 and then Rs 400, he adds. The stock is currently trading at Rs 266.50, up 4.3% on the BSE.  

Hold Balaji Telefilms and book profit at Rs 42-55, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 33.35, down 2.8% on the BSE.  T

is pull-back is a classic bear market rally, says Shashank Khade of Kotak Securities on CNBC TV18. He expects the rally in global markets to fizzle out soon and thinks that India will mirror global equities in short term. Commodities will lead the next leg of the big fall and investor psyche towards capitulation will increase in the month of April and May, he adds.  

Buy Infosys on decline, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It can go up to Rs 1330 and then Rs 1450, he adds. The stock is currently trading at Rs 1273, down 1.2% on the BSE.  

Buy RPL at Rs 81 with target of Rs 84, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 79, she adds. The stock is currently trading at Rs 81.70, up 0.4% on the BSE.  

Hold RNRL, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Book profit at Rs 55-60, he adds. The stock is currently trading at Rs 45.20, up 2.4% on the BSE. 

Hold IFCI with short-term target of Rs 19.50, says MB Singh, technical analyst, on Zee Business. Buy more at below Rs 15 and hold for 2-3 years, he adds. This is not a trading stock, he says. The stock is currently trading at Rs 18.35, up 3.4% on the BSE.  

An hour into opening, the market continues on a flat note and marginally in the green. Media stocks, particularly TV Today, have been buzzing since morning. Sensex is trading at 8957, up 14 points from its previous close, and Nifty is at 2782, up 5 points. CNX Midcap index is up 0.9% and BSE Smallcap index is up 1.2%.  

Hold ONGC and book profit at around Rs 750, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 715, down 0.04% on the BSE. 

Hold RNRL with stop loss of Rs 40, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. It is at the moment in a trading range of Rs 46-54, he adds. The stock is currently trading at Rs 43.50, down 1.5% on the BSE.  

Buy Mahindra & Mahindra, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. It will show good upmove, he adds. The stock is currently trading at Rs 381.35, up up 2% on the BSE.  

Buy Nalco at Rs 230 with target of Rs 236, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 227, she adds. The stock is currently trading at Rs 232.70, up 1.2% on the BSE.  

Hold Everonn Systems with stop loss of Rs 100, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. It can go up to Rs 145 and Rs 160, he adds. The stock is currently trading at Rs 141.75, up 14.8% on the BSE.  

Take long position in DLF at Rs 162, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep stop loss of 3-4%, he adds. It can go up to Rs 177-180, he says. The stock is currently trading at Rs 162.85, up 0.6% on the BSE. 

Nifty will see a strong supply zone at 2800-2835, says Rajat Bose, technical analyst, on CNBC TV18. He advises investors to book profits if the Nifty moves in that trading range today. He feels the market will move decisively up if it sustains above 2835 for two trading sessions in a row.  

Sell Pyramid Saimira on any rally, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. It has resistance at Rs 16 and 18, he adds. The stock is currently trading at Rs 14.45, down 4.9% on the BSE.  

Buy ICICI Bank at Rs 322 with target of Rs 339, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 313, she adds. The stock is currently trading at Rs 330, up 2.3% on the BSE. 

The market opens on a very flat and quiet note today, showing kind of a sideways movement. Earlier, after an initial flurry, the US market ended on a disappointing note. Sensex is trading at 8905, down 38 points from its previous close, and Nifty is at 2771, down 5 points. CNX Midcap index is up 0.4% and BSE Smallcap index is also up 0.4%. The market breadth is positive with advances at 246 against declines of 181 on the NSE. 

Nifty will see support at 2600-2650, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. He sees strong resistance at 2800-2850.  

Nifty will see support at 2525-2550, says Ashwani Gujral, technical analyst, on CNBC Awaaz. He sees resistance at 2860-2900. If market has a gap-up opening, then book profit, he advises. 

Buy on dips when market opens today, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep target of 2850-2870, he adds. 

We may see profit booking in morning trade, says VK Sharma of Anagram Stock Broking on CNBC TV18. He sees resistance for Nifty at 2800-2830. After early short covering, fresh FII buying in Nifty Futures was seen yesterday, he adds. He advises booking profit in Nifty longs or writing 2800 Calls. One can go long again if Nifty crosses 2830, he says.