Friday, March 27, 2009

Market Voices 27-03-09


Market Voices 27-03-09

It was a fantastic week for the Indian market, perhaps the best till date for 2009. The market drew robust volumes and retail participation. Experts feel this rally has the strength to go to 3400-3700 on Nifty and those who feel they have missed the bus can buy on any dips. This week's excellent figures are: Sensex up 12.14% and Nifty up 10.8%. BSE Midcap index up 6.28%, BSE Smallcap index up 3.8% over the week. BSE Metal index up 16.5%, BSE Oil & Gas and BSE Consumer Goods index up 12.5%, BSE Power index up 9.5% and BSE IT index up 6%. All sectoral indices closed above 5% gains. 

It was a fantastic session for the Indian market that closed decisively above 10000 on Sensex and 3100 on Nifty today. Sensex shut shop at 10048, up 45 points and Nifty at 3108, up 26 points from the previous close. CNX Midcap index was up 2.17% and BSE Smallcap index was up 1.59%. The market breadth was positive with advances at 854 against declines of 356 on the NSE. Top Nifty gainers included Tata Steel, Reliance Communications and SAIL while losers included HDFC, Power Grid and Unitech.  

The market is showing strength and the rally could go to 3500-3600 on Nifty, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Nifty has good support at 2860-2900 which would also be a good opportunity to buy, he adds. 

Sell Financial Technolgies on a rally with a target of Rs 700-725, where one can book profits, says Shrikant Chouhan of Kotak Securities, on CNBC Awaaz. The stock is currently trading at Rs 567, up 8.6% on the BSE. The long-term growth story is in frontline IT counters like 

Hold Tata Motors with a target of Rs 200 and if the crosses above that it can go to Rs 250 where one can book profits, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 188, up 9.3% on the BSE.  Buy Tata Motors with a target of Rs 188-206 and stop loss of Rs 162, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 186, up 9% on the BSE.

The best picks in the power space are BHEL at Rs 1350 and NTPC at Rs 165 for good long-term stories, says Shrikant Chouhan of Kotak Securities, on CNBC Awaaz.  Buy GVK Power for the long term, with a target of Rs 50-60 in 12 months, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. The stock is currently trading at Rs 22, down 0.8% on the BSE.  Buy Torrent Power for the long term, with a target of Rs 150 in 18-24 months, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. The stock is currently trading at Rs 73, up 2.1% on the BSE. Buy Reliance Power if it closes above Rs 110 then it has a target of Rs 127 and keep a stop loss of Rs 98, says Rakesh Bhansal of SMC Global, on Zee Business. The stock is currently trading at Rs 109, up 3.64% on the BSE. 

Sell Sahara Housing on any rally with a target of Rs 70-75, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 55, up 4.9% on the BSE.  

Sugar stocks are likely to outperform in the near term, Balrampur Chini and Renuka Sugar can be bought for more upside for now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18.  

Sell Jindal Steel & Power with a target of Rs 1100-1000 and stop loss of Rs 1280, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1234, down 0.16% on the BSE.  

Buy Punj Lloyd with a target of Rs 94 and stop loss of Rs 78, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 90, up 10% on the BSE.  

The intermediate trend is up and if the corporate results starting April come out with a positive surprise the market could rally further, says Rajat Bose, technical analyst, on CNBC TV18. Nifty could then test 3400-3500 levels in the next six weeks, he adds. But it will not be a one way move up, so any correction should be used as an opportunity to buy into the market, he says. 

It was another stellar session for the Indian market that outperformed its global peers. Sensex closed at 10039, up 36 points (provisional) and Nifty at 3107, up 25 points (provisional) from the previous close. CNX Midcap index was up 2.11% and BSE Smallcap index was up 1.74%. The market breadth was positive with advances at 843 against declines of 376 on the NSE.  

Nifty has consolidated around 2800-2900 and now shown a breakout at 2830, says E Mathew, technical analyst, on CNBC TV18. This time if Nifty goes past 3150 on close, it will be a mouth-watering bear market rally that can take Nifty to 3700-3800, he adds. 

Book partial profits in Nifty long positions, says Anil Maghnani, technical analyst, on CNBC-TV18, as closing market strategy. Hold the rest with Nifty target of 3150-3175 and stop loss of 3050, he adds. 

Buy Reliance Communications with a target of 190 and stop loss of 176, says prakashgaba.com on CNBC Awaaz, as closing market strategy.  

Book profits in Nifty long positions, says Ashwani Gujral, technical analyst, on CNBC-TV18, as closing market strategy.    Hold Nifty futures with a target of 3145 and stop loss of 3070, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy.  Nifty has stiff resistance at 3150-3170 and it is best to book profits in long positions right now, says Rajat Bose, technical analyst, on CNBC TV18. Wait for a slight correction next week which would be an opportunity to get into the market at lower levels now, he adds.  » Send to friends

There is more steam in this rally and Nifty could go to 3300 in the short term, says Amitabh Chakraborty of Religare Securities, on CNBC TV18. After that the market is likely to pause and correct which will be an excellent opportunity to buy into this market, he adds. The risk appetite for equities has improved globally, he says. His top pick in the metal space is Sterlite Industries. 

The market is seeing a strong session led by metal stocks that are shining. Sensex is trading at 10080, up 77 points and Nifty is at 3118, up 36 points from the previous close. CNX Midcap index is up 2.16% and BSE Smallcap index is up 1.57%. The market breadth is positive with advances at 864 against declines of 332 on the NSE. 

In the engineering space, Punj Lloyd, BGR Energy and Praj Industries are excellent long-term stories, says Rajesh Tambe, technical analyst, on Zee Business. 

SMC Global Securities maintains a buy call on BEL with a target of Rs 950 and stop loss of Rs 813, reports CNBC Awaaz. The stock is currently trading at Rs 843, down 1.01% on the BSE. 

Buy Siemens Ltd. with a target of Rs 256, says Salil Sharma of Kapoor & Sharma Company, on Zee Business. The stock is currently trading at Rs 250, up 1.2% on the BSE. 

Buy Hero Honda if it goes above Rs 1050 then its next target is Rs 1100, says Nitin Murarka of SMC Global, on Zee Business. The stock is currently trading at Rs 1078, up 4.8% on the BSE. 

Buy Idea Cellular with a target of Rs 55, says Salil Sharma of Kapoor & Sharma Company, on Zee Business. The stock is currently trading at Rs 49, down 3.4% on the BSE.  

The Asian markets have closed flat while European markets have opened weak. Weak global cues see Indian market under some pressure. Sensex is trading at 9930, down 73 points and Nifty is at 3070, down 11 points from the previous close. CNX Midcap index is up 1.56% and BSE Smallcap index is up 1.12%. The market breadth is positive with advances at 780 against declines of 389 on the NSE.  

Buy RIL in a correction around Rs 1450-1480 with a target of Rs 1700 in 2-3 weeks, says Salil Sharma of Kapoor & Sharma Company, on NDTV Profit. The stock is currently trading at Rs 1556, down 0.64% on the BSE.  Buy RIL with a target of Rs 1650 and stop loss of Rs 1420, says Nitin Murarka of SMC Global, on Zee Business. The stock is currently trading at Rs 1556, down 0.64% on the BSE.  

Buy Suzlon if it closes above Rs 48 then it has a target of Rs 70 and keep a stop loss of Rs 32, says Rakesh Bhansal of SMC Global, on Zee Business. Book partial profits around Rs 50 as it may not sustain rallies, he cautions. The stock is currently trading at Rs 45, up 2.02% on the BSE.  

Buy Dishman Pharma as it would give 60-70% return for the long-term, says Ashish Kapoor, CEO of Investshoppe, on CNBC Awaaz. The stock is currently trading at Rs 102, up 3.9% on the BSE. 

ONGC to continue with its capex plan of Rs 20,000 crore for FY10, says RS Sharma, chairman of the company, on CNBC TV18. The FY10 budget for exploration is at Rs 7000 crore, he adds. Experts feel L&T and Punj Lloyd to benefit from ONGC contracts. ONGC is currently trading at Rs 807, up 0.34% on the BSE. 

Sensex is likely to go to 12500 but the current rally does not indicate this is the beginning of a bull market, says Shankar Sharma of First Global, on CNBC TV18. The market lows mat not be in place as there is still a lot of problems ahead in the global market, he feels. The second half of 2009 will be crucial, he says. 

The Asian markets are trading mixed. It's a good session for our market this afternoon. Sensex is trading at 10019, up 15 points and Nifty is at 3098, up 16 points from the previous close. CNX Midcap index is up 1.85% and BSE Smallcap index is up 1.39%. There is buying in metal, banking and realty stocks. The market breadth is positive with advances at 823 against declines of 343 on the NSE. 

 Buy Grasim Industries with stop loss of Rs 1330, says Neera Jain, technical analyst, on NDTV Profit. It will give good returns in 2-3 years, she adds. The stock is currently trading at Rs 1614, up 0.9% on the BSE. 

Hold Bajaj Auto and sell when it reaches Rs 640, says Ashu Bagri, technical analyst, on NDTV Profit. It has support at Rs 550, he adds. The stock is currently trading at Rs 619.95, up 0.5% on the BSE.  Buy Hero Honda Motors with stop loss of Rs 920, says Prasad Kushe, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1071, up 4.1% on the BSE. 


The global markets are close to a bottom and so one should not buy in such a rally, says Andrew Holland of Ambit Capital on CNBC TV18. The risks on the downside continue and the markets may retest lows, he adds. Though optimistic about a sharp pull-back, he is still bullish in the long run. On investment in India, he says that India will remain off investors' radar for most of 2009 due to elections. 

Invest in staggered fashion in L&T, RIL, Reliance Infrastructure and ICICI Bank with long-term view, says Phani Sekhar of Angel Broking on CNBC Awaaz. 

Hold Cairn India which is a very strong stock and will give good returns, says Neera Jain, technical analyst, on CNBC Awaaz. Keep short term stop loss of Rs 170, she adds. The stock is currently trading at Rs 190.80, up 0.2% on the BSE.  

Will wait on investments into India till the elections are over, says Samir Arora of Helios Capital on NDTV Profit. He expects consolidation in the current bear market rally but says it is difficult to assess medium-term direction of the markets. Political overhang in India is a cause for concern and uncertainty of election outcome increases the risks, he adds.  

Go short on NTPC with target of Rs 165, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep stop loss of Rs 188, he adds. The stock is currently trading at Rs 181.10 on the BSE. 

The market at noon is trading volatile and choppy. Metal stocks appear to be on a roll. Sensex is trading at 9970, down 33 points from its previous close, and Nifty is at 3077, down 5 points. CNX Midcap index is up 0.9% and BSE Smallcap index is up 0.9%. The market breadth is positive with advances at 746 against declines of 391 on the NSE.  

Hold Jai Corp with target of Rs 110, says Neera Jain, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 60-65, she adds. The stock is currently trading at Rs 82, up 0.7% on the BSE.  

Buy Unitech when it reaches Rs 30-32, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 35.65, down 2.5% on the BSE. 

Exit MTNL on rally because it is a weak stock in the telecom sector, says Gaurang Shah of Geojit Financials on Zee Business. Instead invest in Bharti Airtel or Reliance Communications, he adds. The stock is currently trading at Rs 69, up 1% on the BSE.  

Short-term traders buy TCS at Rs 520-530 with target of Rs 660, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 500, he adds. The stock is currently trading at Rs 549, down 1.5% on the BSE.  

Hold IVRCL Infra with medium-term target of Rs 172, says E Mathew, technical analyst, on CNBC TV18. Keep stop loss of Rs 121-125, he adds. The stock is currently trading at Rs 130.45, down 1.6% on the BSE. 

Buy KS Oils and hold with long-term view, says Paras Bothra of Ashika Stock Broking on CNBC Awaaz. It will give good returns, he adds. The stock is currently trading at Rs 42.80, up 4% on the BSE.  

Hold Axis Bank with target of Rs 465-470, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. New investors may buy on dips at Rs 350-375, he adds. The stock is currently trading at Rs 425, up 0.8% on the BSE. 

Avoid Ranbaxy which is a weak stock, says Pradeep Surekha, technical analyst, on Zee Business. It has a crucial level of Rs 156 breaking which it might go down to Rs 148, he adds. The stock is currently trading at Rs 160.60, up 1.7% on the BSE. 

Short-term traders can hold Tata Motors with target of Rs 190-200, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Long-term traders should keep target of Rs 250-260, he adds. New investors may buy on dips at Rs 155-160, he says. The stock is currently trading at Rs 173.30, up 0.4% on the BSE.  

An hour into opening, the market is witnessing volatility with both the indices trading a little lower than their previous closings. Asian markets are trading mixed. Sensex is trading at 9969, down 33 points from its previous close, and Nifty is at 3080, down 2 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.6%. The market breadth is positive with advances at 667 against declines of 410 on the NSE.  

Sell Visa Steel because it is fundamentally a weak stock, says Paras Bothra of Ashika Stock Broking on CNBC Awaaz. The stock is currently trading at Rs 20.20, down 1.5% on the BSE. 

Hold JP Associates with stop loss of Rs 78 and 82, says Pradeep Surekha, technical analyst, on Zee Business. It has resistance at Rs 89-90 crossing which it can go up to Rs 97, he adds. The stock is currently trading at Rs 86, up 0.2% on the BSE. 

Short-term traders buy Tata Steel with target of Rs 250-260, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 180, he adds. The stock is currently trading at Rs 212, up 3.5% on the BSE.  

Buy GVK Power which is showing good momentum, says Pradeep Surekha, technical analyst, on Zee Business. It can go up to Rs 25.50-26 in one or two days, he adds. The stock is currently trading at Rs 23.25, up 2.7% on the BSE.  » Send to friends

Short-term traders hold Sail with target of Rs 108-112, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 91.50, he adds. New investors may buy on dips at Rs 70, he says. The stock is currently trading at Rs 98, up 2% on the BSE.  

Buy Tata Motors at Rs 175 with target of Rs 182, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 169, she adds. The stock is currently trading at Rs 176.60, up 2.3% on the BSE. 

Short-term traders can book profits in Havells India for 5-10% gains, says Paras Bothra of Ashika Stock Broking on CNBC Awaaz. Long-term investors can hold, he adds. The stock is currently trading at Rs 157.05, up 6.6% on the BSE. 

Buy Axis Bank at Rs 421 with target of Rs 435, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 413, she adds. The stock is currently trading at Rs 429, up 1.8% on the BSE. 

Short-term traders buy ONGC with target of Rs 860-865, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 770, he adds. The stock is currently trading at Rs 807.50, up 0.4% on the BSE.  

The market begins the new series with a quiet and flat opening. Earlier in the day, the US market ended on a high note with a last-minute surge by Nasdaq. Sensex is trading at 9992, down 11 points from its previous close, and Nifty is at 3083, up 1 point. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.2%. The market breadth is positive with advances at 283 against declines of 205 on the NSE.  

The Nifty is expected to head towards the 4000 mark in the medium term though it won't be a straight dash towards it, says Sandeep Shah of Sampriti Capital on CNBC TV18. He believes that the fundamentals are similar to those 2004 levels. He advises taking a long-term view. He is sure that 2500 on the Nifty and 8000 on the Sensex will hold.  

There will be buying opportunity on dips in the morning and post-lunch sessions, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Buy with a stop loss for 20-25 point gains, he adds.  Nifty will be trading in the range of 2880-3150, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. On dips, support will be 2970 and 2880, he adds. He sees next resistance for Nifty at 3150-3200.  The Nifty did not witness strong rollovers due to lack of short rollovers, says VK Sharma of Anagram Stock Broking on CNBC TV18. He expects midcap F&O stocks to see some action. He advises trading with strict stop loss or writing higher out-of-the-money calls for protection.