Wednesday, March 25, 2009

Market Voices 25-03-09

MARKET VOICES 25-03-09

Buy ABB with a target of Rs 400-415 and stop loss of Rs 367, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 392, up 4.3% on the BSE.  The market may see some profit booking ahead of F&O expiry tomorrow and the upside may be limited, says Sharmila Joshi of Systematix Shares on CNBC Awaaz. There could be some more action in the midcap space and the momentum is in favour of the bulls, she adds.  

The bias is in favour of the bulls now and the market has some more steam with Nifty resistance at 3000, says Salil Sharma of Kapoor & Sharma Company, on CNBC Awaaz. The good volumes show that the market is moving into stronger hands, he adds. 

It was a good day for the market that closed at the day's high. Sensex closed at 9704, up 233 points (provisional) and Nifty at 2994, up 55 points (provisional) from the previous close. CNX Midcap index was up 0.73% and BSE Smallcap index was up 0.32%. There rally was led by good buying in realty, oil and gas and metal stocks. The market breadth was positive with advances at 637 against declines of 550 on the NSE.  

Buy Chambal Fertlisers with a target of Rs 42 and stop loss of Rs 37.5, says Trade Swift Broking on CNBC Awaaz, as closing market strategy.  

Buy GMR Infrastructure with a target of Rs 110 and stop loss of Rs 87, says Salil Kapoor, technical analyst, on CNBC Awaaz, as closing market strategy.  

Buy Reliance Communications with a target of Rs 175 and stop loss of Rs 160, says prakashgaba.com, on CNBC Awaaz, as closing market strategy.  

Buy Bombay Rayon at current levels for excellent long-term returns, says Akshita Deshmukh, technical analyst, on Zee Business. The stock is currently trading at Rs 146, up 5.1% on the BSE.  

Buy RIL if it sustains above Rs 1475 for two-three days it has a target of Rs 1775-1800, says Jatindar Sharma, technical analyst, on Zee Business. The stock is currently trading at Rs 1543, up 6.2% on the BSE.  SMC Global Securities maintains a buy call on RIL with a target of Rs 1650 and stop loss of Rs 1320, reports CNBC Awaaz. The stock is currently trading at Rs 1498, up 3.2% on the BSE.  

Nifty has been able to cross important resistance level of 2920, now levels to watch are 2980-3000-3150, says Ahwani Gujral, technical analyst, on CNBC TV18. But Nifty may not be able to hold 3000-3100 as all expect the market to turn from here, he says. RIL will be the key driver for this market and Rs 1512 is the level to watch out for, he adds. 

The market is still looking good. Sensex is trading at 9621, up 150 points and Nifty is at 2974, up 35 points from the previous close. CNX Midcap index is up 0.17% and BSE Smallcap index is up 0.23%. The market breadth is positive with advances at 606 against declines of 572 on the NSE.  

Buy Welspun Gujarat with a target of Rs 85 if that is crossed it could go to Rs 110, says Akshita Deshmukh, technical analyst, on Zee Business. The stock is currently trading at Rs 77, up 13.2% on the BSE.  Hold Welspun Gujarat with a target of Rs 79-84 where one can exit the stock and keep a stop loss of Rs 66, says Hitendra Vasudev of stockmechanics.com, on CNBC Awaaz. The stock is currently trading at Rs 77, up 13.2% on the BSE. 

SMC Global Securities maintains a buy call on Siemens with a target of Rs 275 and stop loss of Rs 217, reports CNBC Awaaz. The stock is currently trading at Rs 239, up 0.65% on the BSE. 

Buy BGR Energy with a target of Rs 225 in 12 months, says Nehal Shah of Ventura Securities on CNBC Awaaz. The stock is currently trading at Rs 135, down 7.9% on the BSE.  

Britannia Industries has saved Rs 150 crore in last three years in costs, says Vinita Bali, MD of the company, on NDTV Profit. Sugar prices remain a worry and growth has been slightly tempered, she adds. But investments have not been cut down in any segment as new products continue to be the growth driver, she says. The stock is currently trading at Rs 1321, down 1.06% on the BSE.  

Buy Unitech with a target of Rs 34-38 and stop loss of Rs 28, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 30, up 6% on the BSE. 

Merrill Lynch has a buy call on Bombay Rayon with a target of Rs 250, reports CNBC TV18. The stock is currently trading at Rs 145, up 4.9% on the BSE. 

The European markets have opened in the positive. The Indian market is seeing some volatility but still trading in the positive. Sensex is trading at 9530, up 59 points and Nifty is at 2944, up 7 points from the previous close. CNX Midcap index is up 0.43% and BSE Smallcap index is up 0.06%. There is buying in banking, oil and gas and metal stocks. The market breadth is negative with advances at 548 against declines of 617 on the NSE.  

Hold IDBI with a target of Rs 47-48 and stop loss of Rs 42, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 45, up 0.5% on the BSE. 

Hold Yes Bank with a target of Rs 74 and stop loss of Rs 44, says E Mathew, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 48, up 5% on the BSE.  

Hold Unitech with a target of Rs 32-33 and stop loss of Rs 25, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 30, up 6% on the BSE. 

Tata Steel is looking weak, it has a target of Rs 178 where one can buy it for the long term, says E Mathew, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 187, up 0.27% on the BSE. 

Buy Power Grid with a target of Rs 108 and stop loss of Rs 93, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 96, down 1.88% on the BSE.  

The market could be rangebound till elections which will be a key trigger for giving it direction, says Suresh Mahadevan of UBS Securities, on CNBC TV18. Many people have missed this rally and fund flows are likely to reverse soon, he adds.  

The Asian markets are trading weak. Poor global cues see our market off the day's high and under pressure. Sensex is trading at 9530, up 59 points and Nifty is at 2944, up 7 points from the previous close. CNX Midcap index is down 0.15% and BSE Smallcap index is down 0.12%. The market breadth is positive with advances at 475 against declines of 655 on the NSE. 

Hold JP Hydro with long-term view, says MB Singh, technical analyst, on Zee Business. The company's fundamentals are good, he adds. The stock is currently trading at Rs 27.55, down 0.7% on the BSE. 

Sell ICICI Bank on rally at around Rs 400-425, says Prakash Gaba, technical analyst, on CNBC Awaaz. Buy again on dips at around Rs 300, he adds. The stock is currently trading at Rs 353, down 0.6% on the BSE.  

There is more steam left in the current global market rally, says Robert Doll of BlackRock on CNBC TV18. He expects to see big moves in both directions for a foundation as the economy improves in 2010. He believes there is more to it and does not think the rally is over by any means.  

Hold GSPL which will give good returns, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. The company's fundamentals are good and the business model is sound, he adds. The stock is currently trading at Rs 37.40, down 0.9% on the BSE.  

Traders hold HDIL with target of Rs 85-90, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 77.45, up 0.9% on the BSE. 

Hold GVK Power & Infrastructure with target of Rs 29-30, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 19, he adds. The stock is currently trading at Rs 20.60, down 0.7% on the BSE.  

Hold NTPC with target of Rs 195-200, says Hardik Jain, technical analyst, on CNBC Awaaz. It is a strong stock and has support at Rs 178, he adds. The stock is currently trading at Rs 178.75, down 1.8% on the BSE. 

Index Futures have seen good Open Interest build-up, says Siddharth Bhamre of Angel Broking on CNBC TV18. The market is divided on the long and short side at the 3000 level, he adds. He advises going short on Hero Honda, HUL and ITC and recommends buying Index Futures.  

At noon the market is trading firm and is near the day's high. Realty and bank sectors are showing good gains. Asian markets are trading firm, too. Sensex is trading at 9604, up 133 points from its previous close, and Nifty is at 2970, up 32 points. CNX Midcap index is up 0.3% and BSE Smallcap index is up 0.4%. The market breadth is positive with advances at 565 against declines of 525 on the NSE.  

Buy Suzlon Energy on dips with target of Rs 49-53, says Rajat Bose, technical analyst, on CNBC Awaaz. Keep stop loss below Rs 39, he adds. The stock is currently trading at Rs 43.85, up 2.6% on the BSE.  

Hold GMR Infra if market is good with target of Rs 110 and then Rs 120, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 92.95, up 3.3% on the BSE.  

Buy Firstsource Solutions on dips with target of Rs 16, says Hardik Jain, technical analyst, on CNBC Awaaz. It has support at Rs 12, he adds. The stock is currently trading at Rs 15, up 4.3% on the BSE. 

Hold HDFC with target of Rs 1600-1650, says Neera Jain, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1300-1350, she adds. There will be opportunity to make fresh entry at Rs 1350-1400, she says. The stock is currently trading at Rs 1562.80, down 0.1% on the BSE.  

Buy Suzlon Energy at Rs 43 with target of Rs 45, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 41, she adds. The stock is currently trading at Rs 42.75, up 5.4% on the BSE. 

Hold Idea Cellular with target of Rs 52-55, says Neera Jain, technical analyst, on CNBC Awaaz. It has support at Rs 45-42, she adds. The stock is currently trading at Rs 47.30, down 4.9% on the BSE.  

Sell Tata Steel with target of Rs 160, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 205, he adds. The stock is currently trading at Rs 187.35, down 3.6% on the BSE.  

After an initial weak opening, an hour later the market trades volatile on the back of expiry. The global market cues are weak, though. In the Indian market, capital goods, technology, banking stocks are seeing buying interest. Sensex is trading at 9548, up 77 points from its previous close, and Nifty is at 2952, up 14 points. CNX Midcap index is down 0.03% and BSE Smallcap index is up 0.1%. The market breadth is negative with advances at 477 against declines of 543 on the NSE.  

If Nifty sustains at 2830 level then buy JP Associates at Rs 72 with target of Rs 80-83, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of Rs 68, he adds. The stock is currently trading at Rs 78.55, down 6.8% on the BSE.  

Exit ONGC at higher levels since it is a weak stock, says Hardik Jain, technical analyst, on CNBC Awaaz. It has resistance at Rs 820 and support at Rs 685, he adds. The stock is currently trading at Rs 779.45, down 2% on the BSE. 

Hold Visa Steel with target of Rs 20-24, says Neera Jain, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 15, she adds. The stock is currently trading at Rs 19.30, up 19.9% on the BSE. 

Buy HPCL at Rs 252 with target of Rs 259, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 248, she adds. The stock is currently trading at Rs 251.40, up 5.3% on the BSE.

Hold Gokaldas Exports with target of Rs 90-95, says Neera Jain, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 42-44, she adds. The stock is currently trading at Rs 74.15, up 20% on the BSE.  

Buy Crompton Greaves at below Rs 100, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. The company's fundamentals are good and it has a long way to go, he adds. The stock is currently trading at Rs 122.15, down 9.7% on the BSE.  

Buy Aban Offshore when it comes to Rs 220-230, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss below 10%, he adds. The stock is currently trading at Rs 328.40, down 0.6% on the BSE.  

Hold HDFC Bank with target of Rs 950-975, says Neera Jain, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 800, she adds. The stock is currently trading at Rs 940.50, up 6.3% on the BSE.  

The market opens unexpectedly on a flat and quiet note despite good Asian cues. Earlier in the day, the US market had had a choppy session and ended sharply lower than a good rally the day before. Sensex is trading at 9499, up 29 points from its previous close, and Nifty is at 2945, up 7 points. CNX Midcap index is up 0.1% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 286 against declines of 148 on the NSE.  

The downside could be limited as buying support is expected at lower levels, says Deven Choksey of KR Choksey Securities on CNBC TV18. He sees range for the Nifty between 2850 and 3015. Higher volumes are a positive as they show broader participation, he adds.  

Nifty has support at 2850 and could cross 3050, says Rahul Mohindar, technical analyst, on CNBC TV18. He advises staying long on the Nifty. He sees an upmove if 2890 level is crossed.  

Ahead of the settlement today, it will be a choppy market and consolidation will continue, says Sudarshan Sukhani, technical analyst, on CNBC TV18. After consolidation there will be an upmove, he adds. He sees resistance at 2950 and then 3150. He advises traders to buy on dips with stop loss of 2850. 

Nifty could have resistance at 3010 and retrace to 2910, says E Mathew, technical analyst, on CNBC TV18. He sees bullish trend above 2830-2840 and advises buying on declines as opposed to earlier call of selling on rally.