Friday, April 3, 2009

Market Voices 2 April 2009


It was a decent week for the Indian market that rallied up with pauses thrown in. Experts feel this rally has the strength to go to Nifty 3800-4000 and it is best to buy on any dips or now. There is a downside risk but if the market does not correct then it would be a greater regret in hindsight. This week's average figures are: Sensex up 3% and Nifty up 3.4%. BSE Midcap index up 5%, BSE Smallcap index up 6.25% over the week. BSE Realty index up 10.5%, BSE Oil&Gas up 7.25%, BSE Consumer Goods index up 6.5%, BSE IT index up 4.2% and BSE Power index up 2.25%.  

It was a stellar rally for the Indian market that saw the highest closing in the last six months. This could be called a day of breakout with large caps leading the charge. Experts feel sentiments too have turned positive with good global cues and volumes. Sensex shut shop at 10348, up 456 points and Nifty at 3211, up 150 points from the previous close. CNX Midcap index was up 3.35% and BSE Smallcap index was up 2.91%. BSE Realty index was up 9% and there was buying in metal, oil&gas and banking stocks. The market breadth was positive with advances at 1064 against declines of 171 on the NSE. Top Nifty gainers included DLF, Tata Motors and SAIL while losers included HUL and Hero Honda. 

After Nifty trading in a range it has shown a clear breakout and investors who had not got in at 2600-2700, this is their opportunity to get in, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. It is difficult to enter at any breakout level and is fraught with risk, he feels. But the market is headed higher, Nifty around 3800 and if one does not enter then buying at higher levels is more difficult, he explains. 

Buy Bartronics with a target of Rs 140-145 in the medium term, says E Mathew, technical analyst on CNBC TV18. The stock is currently trading at Rs 89, up 3.8% on the BSE. 

Buy Kalpatru Power with a target of Rs 408 in 12 months, says Mufaddel Jariwala, technical analyst on CNBC Awaaz. The stock is currently trading at Rs 346, up 7.2% on the BSE. 

Buy GMR Infra with a target of Rs 140-150 in 12 months, says Ambareesh Baliga, technical analyst on CNBC TV18. The stock is currently trading at Rs 100, up 2.7% on the BSE.  

Buy Ceat with a target of Rs 50 and stop loss of Rs 35, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 39, up 8.5% on the BSE. 

Buy KEC International with a target of Rs 193 in 12 months, says Mufaddel Jariwala, technical analyst on CNBC Awaaz. The stock is currently trading at Rs 163, up 5% on the BSE.

Buy Praj Industries with a target of Rs 80 and stop loss of Rs 50, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 61, up 2.4% on the BSE. 

Buy RIL, if it closes above 1665 then its next target is Rs 1800, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1662, up 5.2% on the BSE. 

Buy GTL Infra with a target of Rs 36 and stop loss of Rs 28, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 30, up 0.65% on the BSE.  

Next week is truncated, if the market opens gap up due to positive global cues then one can initiate fresh longs, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. If Nifty sustains above 3260 initiate fresh longs with a stop loss of 3180, he adds.  

It was a fabulous and important day for the Indian market that showed a breakout today. The spectacular rally was led by positive global cues and the large cap universe. Thus volumes and participation was high today. Sensex closed at 10357, up 455 points (provisional) and Nifty at 3214, up 153 points (provisional) from the previous close. CNX Midcap index was up 3.40% and BSE Smallcap index was up 2.86%. The market breadth was positive with advances at 1039 against declines of 203 on the NSE. 

Hold Nifty long positions with a target of 3300-3500 and stop loss of 3035, says Ashwani Gujral, technical analyst, on CNBC TV18, as closing market strategy. Don't enter into fresh longs now, he adds.  

Book profits on Nifty longs, says Rajat Bose, technical analyst, on CNBC TV18, as closing market strategy.  

Hold Nifty futures long positions with a target of 3300 and stop loss of 3150, says E Mathew, technical analyst, on CNBC Awaaz, as closing market strategy. Buy Nifty futures with a target of 3275 and stop loss of 3200, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.  Hold Nifty futures long positions with a target of 3300 and stop loss of 3035, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy. 

Buy Punj Lloyd with a target of Rs 135-140 with a stop loss of Rs 95, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 108, up 16% on the BSE.  

Buy Raymond with a target of Rs 105 and stop loss of Rs 75, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 84, up 4.32% on the BSE. 

Strong global cues see our market continue to trade up in style. Sensex is trading at 10349, up 447 points and Nifty is up at 3206, up 146 points from the previous close. CNX Midcap index is up 3.79% and BSE Smallcap index is up 3.30%. The market breadth is positive with advances at 1092 against declines of 145 on the NSE. 

Buy IVRCL Infra with a target of Rs 166-170 with a stop loss of Rs 129, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 146, up 13.9% on the BSE. 

Hold McLeod Russel with a target of Rs 84 where one can book profits, says E Mathew, technical analyst on CNBC TV18. The stock is currently trading at Rs 65, down 2.46% on the BSE. 

Hold HDIL with a target of Rs 104 where one can book profits and keep a stop loss of Rs 91, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 100, up 11.9% on the BSE. 

Hold Kesoram with a target of Rs 190-195 and keep a stop loss of Rs 125, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 144, up 4.5% on the BSE. 

Hold Ranbaxy with a target of Rs 215-220, says E Mathew, technical analyst on CNBC TV18. The stock is currently trading at Rs 187, up 4.8% on the BSE. 

Hold Wockhardt with a target of Rs 85-86 where one can exit and keep a stop loss of Rs 65, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 77, up 1.9% on the BSE.

Hold GSFC with a target of Rs 105-110 and keep a stop loss of Rs 77, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 96, up 5.8% on the BSE. 

Sensex past 11000 and Nifty beyond 3250 will mean the beginning of a bull market, says Deepak Mohoni, technical analyst, on CNBC TV18. It is best to pick up stocks that are at their six-month high since they are showing strength, he adds. 

The market continues to trade firm. Sensex is trading at 10430, up 528 points and Nifty is up at 3225, up 165 points from the previous close. CNX Midcap index is up 3.74% and BSE Smallcap index is up 3.53%. The market breadth is positive with advances at 1075 against declines of 144 on the NSE. 

Buy Reliance Capital with a target of Rs 432 and stop loss of Rs 354, says E Mathew, technical analyst on CNBC TV18. The stock is currently trading at Rs 420, up 8.6% on the BSE. 

Hold ICICI Bank with a target of Rs 370 where one can book partial profits, says Amarjeet Singh, technical analyst, on CNBC Awaaz. If the stock crosses that it could go to Rs 390, keep a stop loss of Rs 311, he adds. The stock is currently trading at Rs 370, up 6.14% on the BSE.

Buy Balrampur Chini with a target of Rs 62-63 and if it crosses that it can go to Rs 90, says E Mathew, technical analyst on CNBC TV18. The stock is currently trading at Rs 57, up 1.69% on the BSE. 

Hold Ispat Industries with a target of Rs 18 where one can exit and keep a stop loss of Rs 9, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 11, up 6.4% on the BSE. 

Hold Ispat Industries with a target of Rs 13 and stop loss of Rs 9, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 11, up 6.4% on the BSE.  

Sensex range is seen at 7000-15000, says Ridham Desai of Morgan Stanley, on CNBC TV18. Sensex could touch 15000 by December this year, he adds. 

Money is waiting to re-enter the market, says Atul Suri on CNBC TV18. Nifty has resistance at 3250 and then it could see a fast climb up and even go to 4100, he adds. 

It's a global pullback rally and the Indian market is powering ahead. The market is seeing a spectacular session. Sensex is trading at 10397, up 495 points and Nifty is up at 3212, up 151 points from the previous close. CNX Midcap index is up 3.64% and BSE Smallcap index is up 3.60%. BSE Realty index is up 9% and BSE Metal index and BSE Bankex index are both up almost 6%. The market breadth is positive with advances at 1064 against declines of 137 on the NSE. 

Buy L&T which is a safe stock for investment, says Deven Choksey of KR Choksey on CNBC TV18. Keep a target of Rs 950 for September, he adds. The stock is currently trading at Rs 719.40, up 6.9% on the BSE. 

SMC Global maintains a buy call on RNRL with target of Rs 63, reports CNBC Awaaz. Keep stop loss of Rs 41, it adds. The stock is currently trading at Rs 50, up 7.4% on the BSE.

Hold Reliance Power with targets of Rs 130 and then Rs 152, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It has support at Rs 90, he adds. The stock is currently trading at Rs 108.80, up 3.9% on the BSE.  

Considering the global depression that markets are facing, it will be a bit difficult to come out of this bearish phase, but not impossible for sure, says Vibhav Kapoor of IL&FS on CNBC TV18. He sees the Nifty crossing 3800 level by the end of CY09. He believes that once the markets are out of this 2500-3000 level that would be the beginning of the bull-market phase. Once we reach that phase, our markets would go higher and higher thereafter for about two to three years, although with some pitfalls on the way, he adds. 

Buy PNB only around Rs 350 for highest reward-risk ratio, says PK Agarwal of Bonanza Portfolio on Zee Business. The stock is currently trading at Rs 436.65, up 7.4% on the BSE.

Buy SREI Infra on every decline, says Ashu Madan of Religare on CNBC Awaaz. The stock is currently trading at Rs 28.55, up 2.3% on the BSE.  

Both traders and investors buy Reliance Industries on dips at around Rs 1450, says PK Agarwal of Bonanza Portfolio on Zee Business. The stock is currently trading at Rs 1640.20, up 3.9% on the BSE. 

Hold ONGC with target of Rs 920, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 750, he adds. The stock is currently trading at Rs 836.60, up 4.1% on the BSE. 

Buy Oscar Investments with target of Rs 205, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 185, he adds. The stock is currently trading at Rs 198, up 5.9% on the BSE. 

The market at noon looks extremely cheery and at the highest point of the day. Sensex is trading at 10342, up 441 points from its previous close, and Nifty is at 3190, up 131 points. CNX Midcap index is up 3% and BSE Smallcap index is up 3.4%. The market breadth is positive with advances at 1033 against declines of 141 on the NSE. 

Buy Suzlon Energy with 2-3 years' investment view, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The worst is over for this company and it is upbeat on the charts now, he adds. The stock is currently trading at Rs 50.65, up 8.7% on the BSE. 

WPI for week ended March 21 is up 0.1% to 227.3 (WoW), reports NDTV Profit. Manufactured products index is up 0.2% (WoW), food articles down 0.4% and non-food articles up 1.2% (WoW), it adds. 

The inflation figure for week ended March 21 has been declared at 0.31% versus the earlier figure of 0.27%, reports NDTV Profit. 

Buy Tata Motors with targets of Rs 230, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 168, he adds. The stock is currently trading at Rs 198, up 10.1% on the BSE.

Buy Sesa Goa with stop loss of Rs 97-98, says Deepak Mohoni, technical analyst, on CNBC TV18. The stock is currently trading at Rs 106.25, up 6.3% on the BSE.

Hold JP Associates with target of Rs 100, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 92.95, up 8.8% on the BSE.

Buy DCB on dips at Rs 18, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. It has resistance at Rs 25-26, he adds. The stock is currently trading at Rs 22.80, up 3.2% on the BSE.

Buy HCC only after it crosses Rs 42 with target of Rs 45-47, says Pankaj Jain of Satguru Capital on Zee Business. Keep stop loss of Rs 37.20, he adds. The stock is currently trading at Rs 43.40, up 8.5% on the BSE

Buy IFCI with target of Rs 26, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 18.75, he adds. The stock is currently trading at Rs 21.25, up 4% on the BSE. 

An hour into opening, the market continues with the morning's rally. Realty and banking stocks are the leaders in the gains. The Asian markets too continue their upsurge. Sensex is trading at 10310, up 409 points from its previous close, and Nifty is at 3179, up 119 points. CNX Midcap index is up 2.5% and BSE Smallcap index is up 2.7%. The market breadth is positive with advances at 979 against declines of 148 on the NSE. 

Buy UCO Bank on dips at Rs 25 with target of Rs 30-32 says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 27.55, up 5% on the BSE. 

Buy Bajaj Hindustan with target of Rs 55, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 47.50, he adds. The stock is currently trading at Rs 52.40, up 3.8% on the BSE. 

Buy Hotel Leela on dips at Rs 18-19, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep a target of Rs 22-23 in one or two months, he adds. The stock is currently trading at Rs 20.20, up 5.8% on the BSE.

Sell Piramal Healthcare with intra-day target of Rs 160, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 198, he adds. The stock is currently trading at Rs 186, down 3% on the BSE.

Book profits in Opto Circuits at Rs 122-125 levels, says Rajat Bose, technical analyst, on CNBC TV18. The stock is currently trading at Rs 121.75, up 4.7% on the BSE. 

Buy Tanla Solutions with intra-day target of Rs 40, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 32, he adds. The stock is currently trading at Rs 38.10, up 9.5% on the BSE. 

Buy RPL at Rs 98 with target of Rs 102, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 95, he adds. The stock is currently trading at Rs 102.60, up 4.4% on the BSE. 

Buy Titagarh Wagons with target of Rs 185, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 157, he adds. The stock is currently trading at Rs 171.40, up 3.2% on the BSE. 

Cover your shorts in RNRL and Reliance Capital, says Tushar Mahajan of Edelweiss Securities on CNBC TV18. Go long in Reliance Infrastructure, he adds. 

The market opens on a very strong note and it is a great start to trade today. Both Sensex and Nifty are trading higher than their previous close. Earlier in the day, the US markets closed higher after a weak start. Sensex is trading at 10260, up 359 points from its previous close, and Nifty is at 3165, up 105 points. CNX Midcap index is up 1.8% and BSE Smallcap index is up 2.9%. The market breadth is strongly positive with advances at 529 against declines of 26 on the NSE.

Huge Open Interest build-up in 3000 Put suggests that the market is making a base around these levels, says Abhinay Jain of Sharekhan on CNBC TV18. But the rally will not be easy and market participants have to book profits at every high, he adds. He likes oil and gas stocks, especially the Reliance group stocks. 

Go short on the Nifty with intra-day target of 2975, says Devangshu Dutta, market expert, on CNBC TV18. Keep stop loss of 3080, he adds. 

Market may have a positive opening today on account of firm global cues, says Ashwani Gujral, technical analyst, on CNBC TV18. Nifty has been trading in a broad range of 2960-3100 for the past few sessions, he adds. He sees support at 2980-3000 and resistance at 3100-3150.  

Profit booking at higher levels may limit the upside, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. He reckons that the Nifty may find it difficult to cross the 3100 mark convincingly. Expects FII flows to be muted ahead of the elections.