Thursday, March 19, 2009

Market Voices 19-03-09

The market witnessed a volatile session in a tight range and closed flat today. Sensex shut shop at 9001, up 25 points and Nifty at 2807, up 12 points from the previous close. CNX Midcap index was up 0.49% and BSE Smallcap index was up 1.08%. The market breadth was positive with advances at 732 against declines of 469 on the NSE. Top Nifty gainers included Ambuja Cements, HDFC and NTPC while losers included L&T, BHEL and Tata Motors.  

Buy Cipla with a target of Rs 210 and stop loss of Rs 190, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 196, down 1.3% on the BSE.  

Hold Tulip Telecom with a target of Rs 455-465 where one can book profits, says Vijay Bhabwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 412, up 5.8% on the BSE.  

Buy Dish TV with a target of Rs 32 and stop loss of Rs 23, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 24, up 1.43% on the BSE.  

The market has rallied for 5 days so chances are that it can correct and move sideways for some time now, says Dipan Mehta, BSE/NSE Member, on Zee Business. Our market will take cues from the global markets and if they rally then there may be some more leg to our rally too, he adds. 

There is not too much downside in the market for now, feels Shahina Mukadam, market expert, on CNBC Awaaz. In the short term, one can accumulate select midcap stocks with momentum for some more room to play, she says. GMR Infra is her top pick. 

It was a flat close for the market today. Sensex closed at 8995, up 19 points (provisional) and Nifty at 2804, up 9 points (provisional) from the previous close. CNX Midcap index was up 0.36% and BSE Smallcap index was up 1.08%. The market breadth was positive with advances at 712 against declines of 473 on the NSE.  

Go long on Nifty if it closes above 2830-2840, says E Mathew, technical analyst, on CNBC-TV18, as closing market strategy. Buy Bata India with a target of Rs 138 and stop loss of Rs 90, he adds.  

Book profits on Nifty long positions, says Ashwani Gujral, technical analyst, on CNBC-TV18, as closing market strategy. Long Sterlite with a target of Rs 340 and stop loss of Rs 290-295, he adds.  

Hold Pantaloon Retail with a target of Rs 150 where one can book profits, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 138, up 0.73% on the BSE.  

US Fed borrowing by the overly indebted US is a huge mistake, says Stephen Roach of Morgan Stanley, Asia, on CNBC TV18. Fed's goal is to kick start the US economy and not to give lower interest rates, he says. US economy is in a very weak state and there are no prospects of an immediate recovery, he adds.  »

The market is seeing a smart pullback and is looking good for now. Sensex is trading at 8987, up 10 points and Nifty is at 2802, up 8 points from the previous close. CNX Midcap index is up 1.030% and BSE Smallcap index is up 1.18%. The market breadth is positive with advances at 718 against declines of 457 on the NSE.  

Sell HUL with a target of Rs 210 and stop loss of Rs 240, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 230, down 1.2% on the BSE.  

Hold Moser Baer with a target of Rs 55-57 where one can book profits, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 45, down 2.1% on the BSE.  

In the infrastructure space, accumulate IRB Infra, Simplex Infra and IVRCL Infra for long-term gains, says Abhinav Bhandary of Pinc Research, on CNBC Awaaz.  

HEM Securities maintains a buy call on Dr Reddy's with a target of Rs 462 and stop loss of Rs 425, reports CNBC Awaaz. The stock is currently trading at Rs 426, down 2.04% on the BSE.  

Sell BHEL with a target of Rs 1360 and stop loss of Rs 1480, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 1411, down 3.2% on the BSE. 

In the oil and gas space, accumulate Cairn and ONGC as they could outperform in 12 months, says Rajesh Jain of Pranav Securities, on Zee Business. Other good stocks for the long term in this space are GAIL, Indraprast, RIL, BPCL and HPCL, he adds. 

If is absolutely essential for Nifty to close above 2830-2840 to show any strength, says Vijay Bhambwani, technical analyst, on CNBC TV18. Book partial profits at least if one is making any profits and go long only if Nifty trades decisively above 2830, he adds.  

The European markets opened positive but are now correcting. Weak global cues see our market under pressure. Sensex is trading at 8926, down 50 points and Nifty is at 2774, down 20 points from the previous close. CNX Midcap index is down 0.07% and BSE Smallcap index is up 0.76%. The market breadth is positive with advances at 632 against declines of 519 on the NSE. 

HEM Securities maintains a buy call on L&T with a target of Rs 663 and stop loss of Rs 620, reports CNBC Awaaz. The stock is currently trading at Rs 624, down 1.86% on the BSE. 

Buy NDTV on dips around Rs 74 with a target of Rs 128-130 in 60 days, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 79, down 1.25% on the BSE. 

HEM Securities maintains a buy call on BHEL with a target of Rs 1490 and stop loss of Rs 1400, reports CNBC Awaaz. The stock is currently trading at Rs 1420, down 2.65% on the BSE.  

Buy RIL around Rs 1150-1200 for excellent long-term gains, says Rajesh Jain of Pranav Securities, on Zee Business. The stock is currently trading at Rs 1326, down 0.35% on the BSE.  

In the auto space, accumulate Tata Motors for the long term as it could outperform and offer excellent gains, says Rajesh Tambe, technical analyst, on Zee Business. The stock is currently trading at Rs 172, down 2.2% on the BSE.  

It will not be easy for Nifty to cross 2830-2860 quickly, says Ashwani Gujral, technical analyst, on CNBC TV18. Now Nifty may be in the 2740-2850 range for some days before the market can make up its mind which way to head, he adds.  

India looks better than other emerging markets, feels Kashyap Pujan of Enam Securities, on CNBC TV18. The market could rally further for another 5%, he adds.  

The Asian markets are trading mixed. The Indian market is under pressure. Sensex is trading at 8922, down 54 points and Nifty is at 2777, down 17 points from the previous close. CNX Midcap index is down 0.09% and BSE Smallcap index is up 0.80%. The market breadth is positive with advances at 622 against declines of 513 on the NSE.  

Hold Tata Steel which has resistance at Rs 165, says V Sundar Raja, technical analyst, on NDTV Profit. It can go up to Rs 200, he adds. Technically, the stock is looking positive, he says. The stock is currently trading at Rs 171, down 3% on the BSE.  

Buy Reliance Communications with target of Rs 184, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 150, he adds. The stock is currently trading at Rs 158.50, down 0.8% on the BSE. 

The upside looks capped and Nifty can go down to 2600-2650, says Amitabh Chakraborty of Religare Securities on CNBC TV18. He expects another rally in the second half of April after a brief consolidation. Expectations of a 50 bps CRR cut could be a near-term trigger, he adds.  

Exit Nalco on any rally, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. The stock is currently trading at Rs 225.50, down 3.3% on the BSE.  

Hold Hexaware with a two-day target of Rs 32-34, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. Keep stop loss of Rs 26.50, he adds. The stock is currently trading at Rs 29.75, up 3.8% on the BSE. 

Hold Vijaya Bank with stop loss of Rs 21, says V Sundar Raja, technical analyst, on NDTV Profit. It has resistance at Rs 25 crossing which it can go up to Rs 35-40 at which levels book profit, he adds. Technically, the stock is looking negative, he adds. The stock is currently trading at Rs 22.40, up 0.2% on the BSE.  

Hold Punj Lloyd with a long-term view, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. Buy more at Rs 50-60 levels, he adds. It will give good returns in three years' time, he says. The stock is currently trading at Rs 77.95, up 0.8% on the BSE.  

Sell Ranbaxy on rally at Rs 160, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 133, he adds. He is not bullish in this stock. The stock is currently trading at Rs 146.35, up 0.5% on the BSE.  

The market at noon continues to be choppy. There is buying in technology and realty stocks. Asian markets are trading mixed. Sensex is trading at 8990, up 14 points from its previous close, and Nifty is at 2795, up 1 point. CNX Midcap index is up 0.4% and BSE Smallcap index is up 1.2 %. The market breadth is positive with advances at 722 against declines of 389 on the NSE.  

Inflation figure for week ended March 7 has been declared at 0.44% versus the earlier figure of 2.43%, reports CNBC TV18. Inflation is now at an all-time low, it adds.  

Hold L&T with stop loss of Rs 550, says PK Agarwal of Bonanza Portfolio, on Zee Business. The stock is currently trading at Rs 638.45, up 0.4% on the BSE.  

Hold Reliance with target of Rs 1350-1400, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss below Rs 1290, he adds. The stock is currently trading at Rs 1335.40, up 0.3% on the BSE.  

Buy Wipro or TCS on all declines, says Ashwani Gujral, technical analyst, on CNBC TV18. He feels that broadly technology sector is doing well all over the world with respect to other sectors.  » Send to friends

11:30 AM - Hold Sail with stop loss of Rs 75, says PK Agarwal of Bonanza Portfolio, on Zee Business. Fundamentally, it is a strong stock, he adds. The stock is currently trading at Rs 83.70, down 1.7% on the BSE.  

Go short on DLF with target of Rs 158, says Devangshu Dutta, market expert, on CNBC TV18. Keep stop loss of Rs 178, he adds. The stock is currently trading at Rs 174.20, up 1.6% on the BSE.  

Hold RNRL with stop loss below Rs 39, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 42.15, up 0.1% on the BSE.  

Intra-day traders hold IDFC with target of Rs 56, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 50.50, he adds. He does not advise fresh buying. The stock is currently trading at Rs 51.30, down 1.4% on the BSE.  

An hour into opening, the market is trading flat with no great gains or losses. Realty sector is, however, buzzing among all other stocks. Asian markets are trading flat, too. Sensex is trading at 9009, up 33 points from its previous close, and Nifty is at 2801, up 6 points. CNX Midcap index is up 1.2% and BSE Smallcap index is up 1.7%. The market breadth is positive with advances at 759 against declines of 282 on the NSE. 

Hold Ispat Industries with target of Rs 12-12.50, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss below Rs 9, she adds. The stock is currently trading at Rs 10.16, up 1.9% on the BSE. 

Buy Jet Airways at Rs 160 with target of Rs 200, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 158, he adds. The stock is currently trading at Rs 183, up 4.2% on the BSE.  

Hold Hindalco and exit at its resistance levels of Rs 48-50, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. The stock is currently trading at Rs 45.35, up 0.7% on the BSE. 

Buy Tata Motors on dips at Rs 166-170, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep target of Rs 190, he adds. The stock is currently trading at Rs 177.90, up 0.8% on the BSE. 

Intra-day traders hold UTV with target of Rs 215 says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss below Rs 195, he adds. He does not advise fresh buying. The stock is currently trading at Rs 209.35, up 2.4% on the BSE.  

Traders hold Tata Steel with target of Rs 188-190, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. Keep stop loss of Rs 168.50, he adds. The stock is currently trading at Rs 178, up 1% on the BSE.  

Book profits in Akruti City, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. He advises against any fresh buying. The stock is currently trading at Rs 2087, up 3.7% on the BSE.  

Buy JP Associates at Rs 80-82 with target of Rs 90-95, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 75, she adds. The stock is currently trading at Rs 81.85, up 3.4% on the BSE.  

Intra-day traders buy Bhushan Steel on dips with target of Rs 344, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 318, he adds. The stock is currently trading at Rs 338.60, up 2.5% on the BSE. 

The market opens on a good note today as was expected, following a good rally in the US market. Asian markets are trading firm, too. Sensex is trading at 9081, up 104 points from its previous close, and Nifty is at 2811, up 23 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.5%. The market breadth is positive with advances at 416 against declines of 108 on the NSE.