Tuesday, March 31, 2009

Market Voices - 31 March 09

Today Nifty has seen a good close and it has the steam to go to 3100 in the near term, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. One can buy RIL, ONGC, ABB, Punj Lloyd and Reliance Capital, she adds.  

The market has turned from sell on rally to buy on dips, says Gaurang Shah of Geojit Financials, on CNBC Awaaz. The market is likely to see some volatility till the elections, he says. But stocks that look good are SBI, ICICI Bank and Axis Bank; in power NTPC, Tata Power; in metal SAIL and Tata Steel and Reliance Infrastructure, he adds. 

Buy Maruti Suzuki with a target of Rs 850 and stop loss of Rs 700, says Rajesh Jain of SMC Global Securities, on Zee Business. The stock is currently trading at Rs 775, up 2.5% on the BSE.  

Buy ICSA India with a target of Rs 98 after which it could see Rs 125-130 and keep a stop loss of Rs 79, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 89, up 16% on the BSE.

Buy Grasim on dips with a target of Rs 1632, says Anil Maghnani, technical analyst, on Zee Business. The stock is currently trading at Rs 1580, up 3% on the BSE.  

The Asian markets closed quiet while European markets were trading firm. The Indian market had a relatively positive session. Sensex closed at 9689, up 121 points (provisional) and Nifty at 3017, up 39 points (provisional) from the previous close. CNX Midcap index was up 1.49% and BSE Smallcap index was up 1.46%. The market breadth was positive with advances at 828 against declines of 367 on the NSE.  

Sell Sterlite Industries with a target of 330 and stop loss of 360, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy. The stock is currently trading at Rs 354, up 1.15% on the BSE. 

Our market is showing strength despite weak global cues, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. Nifty could go to 3150-3200 in the near term, she adds. Maintain Nifty long with a target of 3097 and stop loss below 2975, says Rahul Mohindar, technical analyst, on CNBC Awaaz, as closing market strategy.  Go short on Nifty with a target of 2850 and stop loss of 3100, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.  

Buy Opto Circuits with a target of Rs 118 after which it could see more momentum and keep a stop loss of Rs 86, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 100, up 5.6% on the BSE.  

The market is still trading smart. Sensex is trading at 9713, up 144 points and Nifty is up at 3021, up 43 points from the previous close. CNX Midcap index is up 1.13% and BSE Smallcap index is up 1.38%. The market breadth is positive with advances at 837 against declines of 347 on the NSE.  

Buy BEML with a target of Rs 410 and stop loss of Rs 380, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 389, up 2.64% on the BSE. 

SMC Global maintains a buy call on Chambal Fertilisers with a target of Rs 53 and stop loss of Rs 37.5, reports CNBC Awaaz. The stock is currently trading at Rs 42, up 0.35% on the BSE. 

Buy RIL with a target of Rs 1605 and stop loss of Rs 1500, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1545, up 1.9% on the BSE.  

Kalpatru Power has bagged orders worth Rs 400 crore from Algeria, reports CNBC TV18. The stock is currently trading at Rs 335, up 5.2% on the BSE.  

Kotak Securities maintains a buy call on Axis Bank with a target of Rs 645, reports CNBC Awaaz. The stock is currently trading at Rs 415, up 4.5% on the BSE. 

Nothing major is likely to emerge from the G20 summit from April 2, feels VK Sharma of Anagram Stock Broking, on CNBC Awaaz. There are expectations but if disappointed, global cues may see our market correct further, he says. Use every rally in the market as an opportunity to sell and not buy on dips for now, he adds.  

The market is seeing a strong bear market rally, says Ramesh Damani, market expert, on CNBC TV18. But Sensex will eventually break 8000, he says. One cannot rule out the market hitting new lows, but this won't happen in a hurry, he says. The market is unlikely to see a bull market for the next five years, he adds. The market could be volatile during elections, he feels.  

The market continues to look good due to positive global cues. Sensex is trading at 9726, up 158 points and Nifty is up at 3029, up 51 points from the previous close. CNX Midcap index is up 1.13% and BSE Smallcap index is up 1.23%. The market breadth is positive with advances at 828 against declines of 322 on the NSE.  

CLSA maintains a sell call on Tata Motors with a target of Rs 95, reports CNBC Awaaz. The stock is currently trading at Rs 183, up 6.7% on the BSE. 

Hold JP Hydro for the long term as it will give good returns over 2-3 years, says Rajesh Tambe, technical analyst, on Zee Business. The stock is currently trading at Rs 29, up 2.09% on the BSE.  

Sell Reliance Power in a rally and switch to frontline power stocks like Tata Power and NTPC, says Anu Jain, technical analyst, on CNBC Awaaz. Reliance Power is currently trading at Rs 104, up 4.18% on the BSE. 

Build a diversified portfolio for the long term till 2012 for excellent returns, accumulate BGR Energy, Punj Lloyd, Praj Industries, Idea Cellular, Reliance Capital in banks Axis Bank, SBI, Canara Bank and BoB, says Rajesh Tambe, technical analyst, on Zee Business.  

Buy Dish TV after it crosses Rs 28-29 for the long term for more momentum, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 22, up 0.44% on the BSE.  »

L&T has bagged orders worth Rs 1100 crore, reports NDTV Profit. The stock is currently trading at Rs 670, up 2.98% on the BSE. 

 The Asian markets are trading quiet while European markets have opened firm. The Indian market is trading steady and looking good. Sensex is trading at 9710, up 142 points and Nifty is up at 3022, up 44 points from the previous close. CNX Midcap index is up 1.21% and BSE Smallcap index is up 1.15%. The market breadth is positive with advances at 789 against declines of 330 on the NSE.  

Hold United Spirits and exit when it reaches Rs 700-750 levels, says Neera Jain, technical analyst, on NDTV Profit. The stock is showing a sideways momentum and is therefore weak, she adds. The stock is currently trading at Rs 657.95, up 1.9% on the BSE. 

Buy Reliance on decline with short-term target of Rs 1570 and medium-term target of Rs 1620, says E Mathew, technical analyst, on CNBC TV18. It has support at Rs 1490-1475, he adds. The stock is currently trading at Rs 1547, up 2.1% on the BSE.  

Buy ICICI Bank with target of Rs 380, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 318, he adds. The stock is currently trading at Rs 335.90, down 0.6% on the BSE. 

Buy GVK Power at current levels with target of Rs 30, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 20, he adds. The stock is currently trading at Rs 23.50, up 8.6% on the BSE.  

Investor sentiment is still bearish and emerging markets would trade flat this quarter, says Adrian Mowat of JP Morgan on CNBC TV18. However, he expects markets to move higher throughout 2009, especially Asian markets as its fundamentals are comparatively stronger. He adds that Asian emerging market were more flexible as compared to European emerging market where there are structural issues. 

Hold HUL with target of Rs 260-265, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 220, he adds. The stock is currently trading at Rs 238.40, down 0.4% on the BSE. 

Buy Infosys in staggered fashion, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. The company's fundamentals are good, he adds. The stock is currently trading at Rs 1322.90, up 1.9% on the BSE. 

Buy Jindal Steel & Power Ltd at Rs 1050 with target of Rs 1200, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 1000, he adds. The stock is currently trading at Rs 1160, down 1.7% on the BSE.  

Buy Cairn India on dips with long-term view, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 160 and resistance at Rs 200 crossing which it can go up to Rs 225, he adds. The stock is currently trading at Rs 182.50, up 1.1% on the BSE.  

The market at noon gets off the day's lows. The indices are trading higher amid choppiness. Buying is seen in large cap stocks. Asian markets are now trading mixed. Sensex is trading at 9670, up 103 points from its previous close, and Nifty is at 3013, up 35 points. CNX Midcap index is up 0.4% and BSE Smallcap index is up 0.7%. The market breadth is positive with advances at 679 against declines of 392 on the NSE. 

Buy Shree Renuka Sugars at current levels with target of Rs 100, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It has support at Rs 70, he adds. The stock is currently trading at Rs 87.75, up 2% on the BSE.  

Hold Hero Honda with short-to-medium term targets of Rs 1140 and Rs 1200, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep trailing stop loss of Rs 960, he adds. The stock is currently trading at Rs 1060, up 1.2% on the BSE.  

Go for long positions in the real estate sector, says Siddharth Bhamre of Angel Broking on CNBC TV18. Avoid short-selling, he adds.  

Buy HDFC Bank at Rs 850 with target of Rs 1000, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 800, he adds. The stock is currently trading at Rs 923.55, down 2.3% on the BSE.  

Buy DLF on dips at around Rs 135-140, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. The stock is currently trading at Rs 165.10, down 0.3% on the BSE.

The market should see a recovery either by day-end or tomorrow led by banking, RIL and Infosys, says Deven Choksey of KR Choksey Securities on CNBC TV18. The Nifty is likely to remain ranged between 2760-3150, he adds.  

Buy Hero Honda with target of Rs 1100, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 1000-1020, he adds. The stock is currently trading at Rs 1054.95, up 0.7% on the BSE. 

An hour into opening, the market is choppy and trading volatile. Banking stocks are seeing some selling pressure. But, tea stocks are buzzing. Asian markets are trading firm. Sensex is trading at 9571, up 3 points from its previous close, and Nifty is at 2992, up 14 points. CNX Midcap index is down 0.2% and BSE Smallcap index is up 0.2%. The market breadth is positive with advances at 546 against declines of 480 on the NSE. 

Buy S Kumars with targets of Rs 25, 27, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 20, he adds. The stock is currently trading at Rs 22.85, up 2.2% on the BSE.  

Buy Balrampur Chini at Rs 40 with target of Rs 60, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 49.75, up 0.4% on the BSE.  

Buy Tanla Solutions with target of Rs 40, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 28.50, he adds. The stock is currently trading at Rs 31.85, up 8% on the BSE.  

Sell Cairn India at Rs 180 with target of Rs 175, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 184, she adds. The stock is currently trading at Rs 177.95, down 1.4% on the BSE. 

Buy Tata Power with target of Rs 777, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 748, he adds. The stock is currently trading at Rs 765, up 0.1% on the BSE.  

Nifty will range between 2950-3100, says Ashwani Gujral, technical analyst, on CNBC Awaaz. He advises traders to buy at 2950-2970 and sell at 3100 levels.  

Sell ICICI Bank at Rs 338 with target of Rs 321, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 351, she adds. The stock is currently trading at Rs 326.15, down 3.5% on the BSE. 

Sell IFCI with target of Rs 17.75, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 20.25, he adds. The stock is currently trading at Rs 19.20, up 1.9% on the BSE. 

Buy Unitech with target of Rs 36.50, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 33.50, he adds. The stock is currently trading at Rs 35.15, up 4.3% on the BSE.  

The market opens up on a mildly positive note today. Earlier this morning, the US markets closed on a negative note witnessing a sharp fall following auto bankruptcy reports. The Asian markets are trading firm. Sensex is trading at 9720, up 152 points from its previous close, and Nifty is at 3020, up 43 points. CNX Midcap index is up 1% and BSE Smallcap index is up 0.7%. The market breadth is positive with advances at 381 against declines of 107 on the NSE.  

Key level of the Nifty for intra-day today would be 3020 and 3025, says Rahul Mohindar, technical analyst, on CNBC TV18. Nifty can move up to 3080-3090, he adds. He believes that it will take time to go past 3100-3150 .  » Send to friends

9:45 AM - Nifty might reach 3100 easily but we are unlikely to see resumption of last week's uptrend, says Sudarshan Sukhani, technical analyst, on CNBC TV18. He believes that at some point today, the market might even see yesterday's lows.  

The market should recover some of yesterday's lost grounds after the pull-back in Asia, says PN Vijay, portfolio manager, on CNBC TV18. He believes that banks and commodity stocks should do well. 

Nifty will see resistance at 3040, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. He sees support between 2950-2960 and expects the market to consolidate within this range. 

Nifty will range between 2920-3050, says Ashwani Gujral, technical analyst, on CNBC TV18. He reckons that some upside may be seen today.