Thursday, April 23, 2009

Market Voices 23 April 2009


Strong global cues and expectation of good results from RIL and HDFC later today saw the market power ahead in last hour of trade. It was an excellent day as the market ended at the day's high, Nifty above its 200 DMA. Sensex shut shop at 11134, up 317 points and Nifty at 3423, up 93 points from the previous close. CNX Midcap index was up 1.29% and BSE Smallcap index was up 0.94%. There was good buying in IT and metal stocks. The market breadth was positive with advances at 715 against declines of 505 on the NSE. Top Nifty gainers included Wipro, Tata Steel and SAIL while losers were Unitech, ABB and Sun Pharma.

If international cues are positive and tomorrow being a weekend, we could see a short covering rally, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Nifty could go past 3500 tomorrow and the next levels are 3511-3620-3640, he adds. 

Sell Bombay Rayon on a rally with a target of Rs 185 where one can exit, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 162, up 1.4% on the BSE. Switch to better return stocks like NTPC and ICICI Bank, he adds. 

Hold Prism Cements with a target of Rs 33-34 and keep a stop loss of Rs 27, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 28, up 1.07% on the BSE. 

Buy DLF with a target of Rs 250 and then it can go to Rs 270 where one can exit and keep a stop loss of Rs 180, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 238, up 4.8% on the BSE. 

It was a fantastic day of trade and the market closed at the high point of the day. Sensex closed at 11198, up 380 points (provisional) and Nifty at 3437, up 107 points (provisional) from the previous close. CNX Midcap index was up 1.50% and BSE Smallcap index was up 1.04%. The market breadth was positive with advances at 735 against declines of 474 on the NSE.

Nifty has a target of 3440-3520 and keep a stop loss of 3370, says Rahul Mohindar, technical analyst, on CNBC TV18, as closing market strategy.

Close all Nifty long positions, says Ashwani Gujral, technical analyst, on CNBC TV18, as closing market strategy. 

Buy Nifty futures with a target of 3500 and keep a stop loss of 3382, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy. Buy RIL with a target of Rs 1800 and keep a stop loss of Rs 1735, he adds. 

Hold Nifty April futures with a target of 3410 and keep a stop loss of 3350, says Rajat Bose, technical analyst, on CNBC Awaaz, as closing market strategy.  » Send to friends


Hold Geojit Financials with a target of Rs 30-42 and keep a stop loss of Rs 24, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 29, up 17% on the BSE. 

The Nifty is making another attempt at a breakout, says Deepak Mohoni, technical analyst, on CNBC TV18. If Nifty trades stable and above 3500 then it is headed higher, it has strong support at 3300, he adds. 

Most emerging markets are doing well, says Prateek Agarwal, market expert, on NDTV Profit. The Indian market is showing signs of bottoming out, he adds. 

The market is trading at the high point of the day and looking good. Sensex is trading at 11079, up 261 points and Nifty is at 3411, up 80 points from the previous close. CNX Midcap index is up 1.1% and BSE Smallcap index is up 0.64%. The market breadth is positive with advances at 670 against declines of 545 on the NSE. 

Hold TVS Motors with a target of Rs 35-36 where one can exit and keep a stop loss of Rs 28, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 32, up 23.22% on the BSE. 

Hold Reliance Infrastructure with a target of Rs 800-825 where one can exit the stock, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 703, up 5% on the BSE. 

Buy Bajaj Hindustan with a target of Rs 100 and keep a stop loss of Rs 63, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 73, down 0.95% on the BSE. 

Hold RNRL with a target of Rs 65-85 where one can exit the stock, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 58, up 0.95% on the BSE. Buy RNRL with a target of Rs 80 and keep a stop loss of Rs 53, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 58, up 0.95% on the BSE.

Buy SEAMEC with a target of Rs 110 in 12 months, says Gaurang Shah of Geojit Financials, on CNBC TV18. The stock is currently trading at Rs 84, up 5% on the BSE. 

In the FMCG space, innovation will be the key driver for growth for companies, says Sunil Alagh, chairman of SKA Advisors, on CNBC TV18. His top picks for the long term are Nestle, GlaxoSmithKline Consumer Healthcare and KS Oils. 

Asian markets closed in the positive while European markets are trading weak. Our market is looking good. Sensex is trading at 10987, up 170 points and Nifty is at 3378, up 47 points from the previous close. CNX Midcap index is up 0.46% and BSE Smallcap index is up 0.42%. The market breadth is negative with advances at 581 against declines of 607 on the NSE. 

Sell BEML with a target of Rs 480 and stop loss of Rs 410, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 465, up 0.19% on the BSE. 

Buy Tata Steel with a near term target of Rs 300, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 256, up 6.2% on the BSE. 

Buy Tech Mahindra with a target of Rs 350 and stop loss of Rs 295, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 315, up 3.10% on the 

Hold or accumulate Indowind Energy as it is likely to be a multi-bagger for the long-term, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 27, up 9.9% on the BSE. 

We plan to have 250 shops by FY10, says Dilip Jiwarajka, MD of Alok Industries, on NDTV Profit. Demand returning for textile exports and the company is not facing pressure on pricing, he says. Demand had slowed down earlier but is now seeing revival and prices are also firming up, he adds. The stock is currently trading at Rs 13, up 1.11% on the BSE. 

Hold Unitech with a target of Rs 50-52 after which it will gain momentum and keep a stop loss of Rs 42, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 45, down 4.5% on the BSE.

The market is likely to be in a Nifty range for a few days of 3300-3450, says Ambareesh Baliga of Karvy Stock Broking on CNBC-TV18. The elections results are likely to drag the market lower, he adds.

Weak global cues see a lackluster session for our market. Sensex is trading at 10959, up 142 points and Nifty is at 3370, up 40 points from the previous close. CNX Midcap index is down 0.06% and BSE Smallcap index is down 0.27%. The market breadth is negative with advances at 509 against declines of 663 on the NSE. 

Hold Gujarat NRE Coke with stop loss below Rs 22, says Neera Jain, technical analyst, on NDTV Profit. It has resistance at Rs 30-32 crossing which it will then show very good uptrend, she adds. The stock is currently trading at Rs 25.65, down 1.5% on the BSE.  

Buy Suzlon Energy for investment purpose, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Traders can take long positions, get out and then repeat this, he adds. The stock is currently trading at Rs 61.95, up 1.1% on the BSE. 

Buy HDFC Bank at Rs 1001-1030 levels, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep targets of Rs 1120 and then Rs 1170, he adds. The stock is currently trading at Rs 1092.20, up 0.3% on the BSE. 

Buy Ambuja Cement on dips, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. It will give returns in the long term, he adds. The stock is currently trading at Rs 81.25, up 2.4% on the BSE.

Market may trade range-bound for the next few days and then show a breakout, says Rajat Bose, technical analyst, on CNBC Awaaz. He suggests 'buying weakness' at 3280 levels and 'selling strength' at 3420 

Hold Era Infra Engineering with target of Rs 95, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss at Rs 75-80, he adds. The stock is currently trading at Rs 77.40, down 8.9% on the 

Exit Suzlon Energy on any bounce-back because fundamentally the stock is weak, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 55, he adds. It is currently trading at Rs 62.30, up 1.6% on the 

Buy Arvind Mills at around Rs 14-15 for a move of Rs 4-5, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. The stock is currently trading at Rs 18.45, up 3.9% on the 

At noon, the market continues its choppy run with midcap and smallcap stocks under pressure. It is coming off the day's low. However, the announcement of the inflation number remains a non-issue for the stock market. Asian markets are trading mixed. Sensex is trading at 10973, up 154 points from its previous close, and Nifty is at 3374, up 43 points. CNX Midcap index is down 0.1% and BSE Smallcap index is down 0.4%. The market breadth is negative with advances at 527 against declines of 623 on the NSE. 

WPI for all commodities is up 0.3% at 228.8 (WoW), reports NDTV Profit. Manufactured Products Index is up 0.2% (WoW), Primary Articles Index is up 0.5% (WoW) while WPI for Fuel Group remains unchanged (WoW), it adds. 

The inflation figure for week ended April 11 has been declared at 0.26% versus the earlier figure of 0.18%, reports NDTV Profit.  

If Nifty holds 3300-3350 levels, then buy Reliance Industries at Rs 1660 with target of Rs 1850, says Ashwani Gujral, technical analyst, on CNBC Awaaz. If it breaks the 3350 level then buy the stock at Rs 1580, he adds. The Nifty levels of 3400-3500 will be for profit booking, he says. The stock is currently trading at Rs 1743.50, up 1.6% on the BSE.

Buy cement stocks at current levels and keep for 6 months, says Dilip Bhat of Prabhudas Lilladhar on NDTV Profit. He is also bullish on L&T, IVRCL and Voltas. 

Hold Petronet LNG with stop loss of Rs 44, says PK Agarwal of Bonanza Portfolio on Zee Business. It will give good returns in long term, he adds. The stock is currently trading at Rs 47.10, down 0.3% on the BSE. 

Sell IOC with intra-day target of Rs 410, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 450, he adds. The stock is currently trading at Rs 429, down 1.4% on the BSE 

Buy HCL Technologies only if it closes above Rs 140, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Otherwise stay away, he adds. It is currently trading at Rs 120.40, down 3.7% on the BSE. 

Sell Gitanjali Gems with target of Rs 55, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 64.30, down 3.7% on the BSE. 

Buy Punj Lloyd at Rs 90-92, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. The stock is currently trading at Rs 107.05, down 1.9% on the BSE. 

Adnani Enterprises is a good investment stock, says VK Sharma of Anagram Stock Broking, on CNBC Awaaz. Overall, it has strength, he adds. The stock is currently trading at Rs 363.70, down 1.7% on the BSE. 

Hold Dish TV with target of Rs 37-38, says Nitin Murarka of SMC Global on Zee Business. Buy again when it is at Rs 26, he adds. The stock is currently trading at Rs 29, down 1% on the BSE. 

An hour into opening, the market continues to remain flat due to mixed cues from Asian markets. Earlier, the US markets had closed lower. Stocks under pressure are realty, infrastructure and banking. Sensex is trading at 10891, up 74 points from its previous close, and Nifty is at 3355, up 25 points. CNX Midcap index is down 0.6% and BSE Smallcap index is down 1.2%. The market breadth is negative with advances at 366 against declines of 745 on the NSE.  

Buy Suzlon Energy at Rs 61 with target of Rs 64.50, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 59.50, she adds. The stock is currently trading at Rs 61.55, up 0.4% on the 

Buy Shopper's Stop with intra-day target of Rs 140, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 118, he adds. The stock is currently trading at Rs 136.10, up 5.6% on the 

Nifty will soon see levels of 3150, says Sudarshan Sukhani, technical analyst, on CNBC TV18. This is not the right time for investors to buy, he adds. He advises waiting for deeper corrections before buying. 

Hold Reliance Power with long-term target of Rs 160, says Nitin Murarka of SMC Global on . Keep stop loss of Rs 105, he adds. The stock is currently trading at Rs 127.30, up 1.1% on the BSE. 

Buy IDFC at Rs 70, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. It has resistance at Rs 75-80 crossing which it will show good momentum, he adds. The stock is currently trading at Rs 73.45, down 2% on the 

Buy Dewan Housing with intra-day target of Rs 88, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 79, down 0.3% on the 

Buy Reliance Power at Rs 126 with target of Rs 131, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 122, she adds. The stock is currently trading at Rs 126.50, up 0.4% on the 

Buy Indian Hotels Company with intra-day target of Rs 54, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 47, he adds. The stock is currently trading at Rs 51.70, up 4% on the 

Sell Maruti at Rs 754 with target of Rs 735, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 765, she adds. The stock is currently trading at Rs 749.50, down 1.4% on the BSE. 

The market opens on a quiet note this morning, in steps of flat global cues. Sensex is trading at 10868, up 51 points from its previous close, and Nifty is at 3347, up 16 points. CNX Midcap index is up 0.7% and BSE Smallcap index is up 0.2%. The market breadth is positive with advances at 338 against declines of 255 on the 

The Nifty will consolidate between 3300-3450, says Ashwani Gujral, technical analyst, on CNBC TV18. Yesterday, midcap stocks saw some profit booking and therefore, today there will be some weakness in these stocks, he adds.

Nifty is trading range-bound between 3150-3450, says Nitin Murarka of SMC Global on Zee Business. He expects profit booking at its resistance level and suggests avoiding long trade till expiry.  

The market is still in a consolidation mode and may have a flat opening today, says Anil Singhvi, market expert, on CNBC Awaaz. He believes that the closing will be important. 

The volatility in the market is high and may remain so going into the major events today, says Tushar Mahajan of Edelweiss Securities on CNBC TV18. However, volumes have tapered off and I don't see much downside from here, he adds. 

Nifty has support at 3300 and resistance at 3500, says Deepak Mohoni, technical analyst, on CNBC TV18. If market recovers and Nifty goes above 3500 levels, then trade on the long side, he advises.

The market is in a consolidation mode, says Deven Choksey of KR Choksey Securities on CNBC TV18. He advises buying on dips to 3250 levels on the Nifty and does not expect a drastic upmove ahead of elections. He expects Reliance results to surprise the market positively with profit of over Rs 3825 cr.

Compiled and Brought to you by 

Equity Research Team

Intelligent Investor -
Invest Advisory Arm of

Ravina Consulting
Bangalore India

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