Tuesday, April 21, 2009

Market Voices 21 April 2009

Market Voices 21 April 2009


It was a volatile day of trade today as the market closed quiet. Sensex closed at 10909, down 69 points (provisional) and Nifty at 3365, down 11 points (provisional) from the previous close. CNX Midcap index was down 0.71% and BSE Smallcap index was up 0.57%. The market breadth was negative with advances at 542 against declines of 684 on the NSE. 

Buy Yes Bank if it stays above Rs 78 it has a target of Rs 92, says E Mathew, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 243, down 7.5% on the BSE. 

Buy Tata Steel with a target of Rs 250 and stop loss of Rs 220, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 243, down 7.5% on the BSE. 

The RBI's credit policy for FY10 is based on the deepening economic slump and financial market turmoil, says D Subbarao, governor of RBI, on NDTV Profit. There is scope for banks to further reduce rates, he feels. RBI will continue to ensure ample liquidity, he adds. Policy measures to ensure that financial market continues to function in an orderly manner, he says.

The market is now in a wait and watch mode as it could break down from 3350 on Nifty, says Sudarshan Sukhani, technical analyst, on CNBC TV18. But it could slowly move above 3500 on Nifty, he feels. What is clear is that even if Nifty goes above 3500, the upside seems limited, he adds.

The market is trading volatile, flipping in and out of the positive and negative. Sensex is trading at 10909, down 70 points and Nifty is at 3367, down 9 points from the previous close. CNX Midcap index is down 1.23% and BSE Smallcap index is up 0.03%. The market breadth is negative with advances at 481 against declines of 743 on the NSE. 

KS Oils acquires 20,000 hectares for Rs 370 crore for backward integration, says Sanjay Agarwal, MD & CEO of the company, on CNBC TV18. The stock is currently trading at Rs 48, up 3.1% on the BSE. 

Buy SBI with a target of Rs 1322 and stop loss of Rs 1230, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1258, down 2.9% on the 

Buy Piramal Healhtcare with a target of Rs 340 in the long term, says Sarbajeet Kaur of Angel Broking, on CNBC Awaaz. The stock is currently trading at Rs 213, down 5.2% on the BSE. 

Buy RIL with a target of Rs 1795 and stop loss of Rs 1675, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1713, down 0.01% on the BSE. 

Good long-term picks in the market today in the power space are PFC, REC International and Voltamp Transformers, says Ashish Kapoor of Investshoppe, on Zee 

The interim trend is still up and the short-term trend in flat, says Deepak Mohoni, technical analyst, on CNBC TV18. If Nifty is able to cross 3500, it has some more upside, he 

A correction in the market could be good for those who have missed the opportunity to get in around 8500 levels in Sensex, says Hitesh Agarwal of Angel Broking, on CNBC TV18. For 2009, the higher range for Sensex could be 12500, he adds.

The market is trading flat. Sensex is trading at 11016, up 36 points and Nifty is at 3399, up 22 points from the previous close. CNX Midcap index is down 0.70% and BSE Smallcap index is up 0.23%. The market breadth is negative with advances at 534 against declines of 670 on the NSE. 

Buy Glenmark Pharma with a target of Rs 244-277, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 207, up 3.5% on the 

Buy Unitech with a target of Rs 100 in the medium term, says Rakesh Bansal of SMC Global Securities, on CNBC Awaaz. The stock is currently trading at Rs 52, down 3.2% on the 

The market may or may not head lower, this is still a good market to invest into as valuations are reasonable, says Ashish Kapoor of Investshoppe, on Zee Business. Good long-term picks in the banking space are SBI and ICICI Bank; in metal space are Tata Steel and Sterlite Industries and in IT space are Infosys and TCS, he adds.

Buy Cadila Healhtcare with a target of Rs 350 in the long term, says Sarbajeet Kaur of Angel Broking, on CNBC Awaaz. The stock is currently trading at Rs 310, up 0.48% on the BSE. 

Hold IFCI with a target of Rs 27 and if it crosses that it can go to Rs 35 and keep a stop loss of Rs 22, says Rakesh Bansal of SMC Global Securities, on CNBC Awaaz. The stock is currently trading at Rs 24, down 0.41% on the BSE. 

Nifty could test 3150 in a correction, says Mitesh Thakkar, technical analyst, on CNBC TV18. Go long if Nifty trades above 3400, he adds. 

The Asian markets are trading mixed. European markets are trading in the positive. Our market had a tempered start, digested the credit policy and is now seeing a choppy run. Sensex is trading at 11061, up 81 points and Nifty is at 3411, up 34 points from the previous close. CNX Midcap index is down 0.11% and BSE Smallcap index is up 0.57%. The market breadth is negative with advances at 493 against declines of 699 on the 

Buy Sintex Industries at Rs 120 with short-term target of Rs 150, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 110, he adds. The stock is currently trading at Rs 131, down 1.5% on the 

The Credit Policy has given a positive surprise to both the equity and debt market, says Nilesh Shah of ICICI Prudential on CNBC TV18. However, he believes that the driver for the market will not be the Credit Policy but the election outcome. 

Hold Reliance Power with short-term target of Rs 150, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 100, he adds. The stock is currently trading at Rs 120.30, up 1.2% on the BSE.

Hold ABG Shipyard with target of Rs 145, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 98, he adds. Buy more when it comes to Rs 105, he says. The stock is currently trading at Rs 120.60, down 3.8% on the BSE.

Hold GMR Infra with target of Rs 135, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has good support at Rs 105, he adds. The stock is currently trading at Rs 119, down 0.4% on the 

Hold Maruti for long term with target of Rs 1000 in 6-8 months, says Nitin Murarka of SMC Global on Zee Business. Short-term traders may hold with stop loss of Rs 790, he adds. The stock is currently trading at Rs 820.40, down 2% on the BSE. 

Buy Greaves Cotton with target of Rs 95, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 77, he adds. The stock is currently trading at Rs 85.60, up 0.7% on the 

Buy Punj Lloyd at Rs 110 with target of Rs 135, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 90, he adds. The stock is currently trading at Rs 109.15, down 3.6% on the BSE.

The market at noon has made some recovery from the morning's low. However, the rate cut announcement by RBI a few minutes earlier appears not to have much of an impact on the stock market. Asian markets are trading mixed. Sensex is trading at 10907, down 73 points from its previous close, and Nifty is at 3360, down 17 points. CNX Midcap index is down 1% and BSE Smallcap index is down 0.5%. The market breadth is negative with advances at 372 against declines of 805 on the NSE. 

Hold ICICI Bank with target of Rs 450 at which level book profits, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 407.40, down 4.5% on the 

Buy HCC only on dips and not at current levels, says Siddharth Bhamre of Angel Broking on CNBC TV18. The stock is currently trading at Rs 59.50, down 2.5% on the BSE.

Hold Polaris with target of Rs 75, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 67.50, down 4.5% on the 

RBI says that bank lending rates still to adjust to policy rate cuts, reports NDTV Profit. According to RBI, there is room for further rate cuts. The RBI has increased limit for FCCB buyback from $50 million to $100 million, reports the channel.

There is still some upmove remaining in this market, says Sharmila Joshi of Systematix Shares on CNBC Awaaz. She advises profit booking in this market and buying banking stocks on decline. 

RBI sees FY'10 GDP growth at 6%, reports NDTV Profit. Inflation expectation for FY'10 is seen at 4% and medium term at 3%, it adds. FY'10 credit growth is seen at 20% and deposit growth seen at 

RBI cuts Repo and Reverse Repo rates by 25 BPS each, reports CNBC TV18. It cuts Reverse Repo rate to 3.25% from 3.5% and Repo Rate to 4.75% from 5%, it adds. RBI keeps CRR unchanged at 5%, it says.

The recent uptrend was just a bear market rally and fundamentals have not improved, says Ajay Bagga of Deutsche Bank on NDTV Profit. He feels that the coming 2-3 quarters could be painful for corporate earnings. He has no expectations of a repo or CRR cut from RBI but believes that there may be curbs in reverse repo. 

An hour into opening, the market is struggling to make a recovery, in anticipation of the announcement of the Credit Policy in a few minutes now. Sensex is trading at 10822, down 157 points from its previous close, and Nifty is at 3335, down 42 points. CNX Midcap index is down 1.5% and BSE Smallcap index is down 

Buy Adnani Enterprises with intra-day target of Rs 400, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 330, he adds. The stock is currently trading at Rs 354.95, up 1.1% on the 

Invest in SBI, Axis Bank and HDFC Bank with long-term view, says Sandeep Shenoy of Pinc Research on CNBC Awaaz. These stocks will give 20% returns in one year, he adds. 

Buy Unitech at Rs 50, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 51.50, down 4.2% on the BSE. 

Hold 3i Infotech with target of Rs 50, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has good support at Rs 40, he adds. The stock is currently trading at Rs 47.05, up 1.2% on the BSE.  » Send to friends

10:35 AM - Hold Bartronics India with short-term target of Rs 110, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 95, she adds. The stock is currently trading at Rs 104.30, up 4% on the BSE.

Sell ICICI Bank with intra-day target of Rs 400, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 440, he adds. The stock is currently trading at Rs 411.10, down 3.6% on the BSE. 

Buy Reliance Infrastructure at Rs 640-650, says Siddharth Bhamre of Angel Broking on CNBC TV18. If it closes above Rs 720 levels, then it might go up to Rs 780-800, he adds. The stock is currently trading at Rs 687.05, down 1.4% on the BSE. 

Buy Dishman Pharmaceuticals with intra-day target of Rs 122, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 106, he adds. The stock is currently trading at Rs 116.70, up 3% on the BSE.

Buy Oracle with intra-day target of Rs 885, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 825, he adds. The stock is currently trading at Rs 866.20, up 2.5% on the BSE. 

Buy Era Infra with target of Rs 98, says E Mathew, technical analyst, on CNBC TV18. Trade with tight stop loss, he adds. The stock is currently trading at Rs 86.10, up 16% on the BSE. 

The market gets off expectedly to a marginally negative start, in the steps of weak global cues. Earlier, the US markets ended sharply lower and even the Asian markets are trading weak. Sensex is trading at 10816, down 163 points from its previous close, and Nifty is at 3330, down 47 points. CNX Midcap index is down 1.3% and BSE Smallcap index is down 0.8%. The market breadth is negative with advances at 115 against declines of 499 on the 

Sell GHCL with intra-day target of 20% downside, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 33, he adds. The stock is at Rs 32.05, down 0.9% on the BSE. 

I would advise traders to book profit, says VK Sharma of Anagram Stock Broking on CNBC TV18. He believes that 3300 would be a key level to watch because of huge Open Interest in 3300 Put. A close below 3300 on the Nifty will give a bearish signal to the market, he adds. He reckons that banks may see shorting ahead of the Credit Policy. 

I expect the market to open with a negative bias on weak global cues, says Amitabh Chakraborty of Religare Securities on CNBC TV18. He thinks that the Nifty may slip to 3100 over the medium term before the uptrend resumes. He believes that the RBI is likely to announce rate cuts in the Credit Policy today. He is positive on private sector banks.

The market may open weak because of negative global cues and the Nifty might see levels of 3300 or even lower, says Rajat Bose, technical analyst, on CNBC TV18. He thinks that the market will also depend on the announcement of the Credit Policy and how bank stocks react to it. He feels that bank and auto stocks will see some selling pressure while technology stocks might show resilience.