Wednesday, April 29, 2009

Market Voices 29 April 2009

The ferocity of this pullback has been surprising, says Anu Jain, technical analyst, on CNBC TV18. It is best to ride this rally with trailing stop losses and if Nifty crosses 3510 then take fresh longs, she adds. This is now a buy on dips market only for select stocks. Her top picks are Welspun Gujarat and Hero Honda. 

The intermediate uptrend is intact and the rally has more steam ahead, says Rajat Bose, technical analyst, on CNBC Awaaz. If Nifty is able to cross 3500-3520 decisively it can go to 3648, he adds. His top picks for next week are GVK Power with a target of Rs 34 and JP Associates with a target of Rs 165. 

It was a good strong day of trade and market ended at the day's high. It was also the end of a fantastic F&O expiry series today ahead of the long weekend (market closed on Thursday and Friday). Positive global cues and short covering helped post a a smart rally. Sensex closed at 11414, up 413 points (provisional) and Nifty at 3480, up 117 points (provisional) from the previous close. CNX Midcap index was up 1.75% and BSE Smallcap index was up 1.34%. The market breadth is positive with advances at 730 against declines of 461 on the NSE. 

Close all positions before the long weekend ahead, says Sudarshan Sukhani, technical analyst, on CNBC TV18, as closing market strategy.  

Buy ICICI Bank with a target of Rs 530 and stop loss of Rs 460, says Trade Swift Broking on CNBC Awaaz, as closing market strategy.  

Buy Infosys with a target of Rs 1570 and stop loss of Rs 1490, says Trade Swift Broking on CNBC Awaaz, as closing market strategy. 

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

Hold all Nifty long positions with a target of 3485 and stop loss of 3420, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy. 

Hold Hero Honda with a target of Rs 1250-1300 and keep a stop loss of Rs 1090, says Nitin Muraka of SMC Global Securities on Zee Business. The stock is currently trading at Rs 1184, up 5.3% on the BSE.

Missing the rally seems a classic backdrop of a base building exercise for the market and Nifty has been able to defend 3300, says Gaurang Shah of Geojit Financials, on NDTV Profit. Nifty needs to cross 3520 decisively for a further upmove, he feels. Polls are proving to be a sore point as investors are sitting on cash hoping for a correction as many have missed this rally, he adds. 

Asia recovered and closed with a smart session while European markets are trading firm. Positive global cues see our market trade strong ahead of F&O expiry today. Sensex is trading at 11387, up 385 points and Nifty is at 3475, up 112 points from the previous close. CNX Midcap index is up 1.21% and BSE Smallcap index is up 1.31%. The market breadth is positive with advances at 752 against declines of 436 on the NSE.

Buy ONGC with a target of Rs 880-895 and stop loss of Rs 849, says Tejas Nandu of Unicorn Investments on CNBC Awaaz. The stock is currently trading at Rs 863, up 3.6% on the BSE.

Credit Suisse maintains outperform on Shree Renuka Sugars with a target of Rs 118, reports NDTV Profit. The stock is currently trading at Rs 97, up 5.6% on the BSE. 

Hold Alok Industries with a target of Rs 16 where one can exit and keep a stop loss of Rs 11, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 13, up 1.6% on the BSE. 

Credit Suisse maintains buy on Sterlite Industries with a target of Rs 500, reports NDTV Profit. The stock is currently trading at Rs 403, up 5.2% on the BSE. 

Hold Gitanjali Gems with a target of Rs 100 where one can exit and keep a stop loss of Rs 55, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 66, up 5.6% on the BSE. 

Macquaire maintains buy on Sterlite Industries with a target of Rs 518, reports NDTV Profit. The stock is currently trading at Rs 403, up 5.2% on the BSE.

Hold Kotak Mahindra Bank with target of Rs 450 where one can book profits and stop loss of Rs 370, says Neerja Jain of crnindia.com on Zee Business. The stock is currently trading at Rs 374, up 3.39% on the BSE. 

Sensex range is 11300-11400 and has the strength to go to 12300, says Deven Choksey of KR Choksey, on CNBC Awaaz. But if there is correction, Sensex could lose 1000 points and that would be a good time to enter the market if one has missed the rally, he adds. His top long-term picks in a correction are L&T, BEML; in banking space, IDFC and SBI and in oil and gas RIL @ Rs 1650.

Positive global cues help our market look smart and trade firm. Sensex is trading at 11235, up 233 points and Nifty is at 3428, up 66 points from the previous close. CNX Midcap index is up 0.80% and BSE Smallcap index is up 1.10%. The market breadth is positive with advances at 708 against declines of 451 on the NSE. 

Buy Indiabulls Finance on dips with a target of Rs 130-150 and stop loss of Rs 100, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 110, down 4.9% on the BSE. 

Buy JK Cements with a target of Rs 80 and stop loss of Rs 42, says Hardik Jain of ISJ Securities on CNBC Awaaz. The stock is currently trading at Rs 55, down 0.18% on the BSE. 

Hold Tulsi Extrusions with target of Rs 22 and stop loss of Rs 15, says Neerja Jain of crnindia.com on Zee Business. The stock is currently trading at Rs 16, up 0.9% on the BSE. 

Hold Tech Mahindra with a target of Rs 400 and stop loss of Rs 300, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 324, up 1.8% on the BSE. 

Buy Blue Star with a target of Rs 235 and stop loss of Rs 150, says Hardik Jain of ISJ Securities on CNBC Awaaz. The stock is currently trading at Rs 171, down 0.58% on the BSE. 

Man Industries has bagged orders worth Rs 1340 crore from the Middle East, reports NDTV Profit. The stock is currently trading at Rs 31, up 9.8% on the BSE.

Nifty range is now seen around 3300-3500 levels, says Nirmal Jain of India Infoline, on CNBC TV18. Nifty has strong support around 3300 and is finding it difficult to cross 3600, he adds.

The Asian markets are trading mixed while European markets have opened positive. Decent global cues see strong gains for our market. Sensex is trading at 11240, up 238 points and Nifty is at 3432, up 69 points from the previous close. CNX Midcap index is up 0.57% and BSE Smallcap index is up 1.03%. All sectoral indices are trading in the positive with buying in IT, realty, power and banking stocks. The market breadth is positive with advances at 692 against declines of 458 on the NSE.

Buy Unitech with target of Rs 60, says Vasudev, technical analyst, on NDTV Profit. Keep stop loss of Rs 35, he adds. The stock is currently trading at Rs 42.40, down 1.3% on the BSE. 

Buy Jet Airways at Rs 150-175 with a long-term view, says Devarsh Vakil, market expert, on NDTV Profit. The stock is currently trading at Rs 191.50, down 0.5% on the BSE. 

Hold JSW Steel with stop loss of Rs 280, says Vasudev, technical expert, on NDTV Profit. It has resistance at Rs 352 crossing which it can go up to Rs 387, he adds. The stock is currently trading at Rs 317.70, up 0.7% on the BSE.

This rally is based on liquidity momentum and is not factoring a positive election outcome, says Andrew Holland of Ambit Capital on CNBC TV18. He sees more risks on the downside in the current environment. He thinks that the markets may re-test lows in coming months and sees the Sensex trading ranged between 7500 and 10500 levels.

Hold Jet Airways with stop loss of Rs 185, says Vasudev, technical expert, on NDTV Profit. It has resistance at Rs 200-214 crossing which it can go up to Rs 252, he adds. The stock is currently trading at Rs 191, down 0.8% on the BSE.  » Send to friends

12:29 PM - Hold Dabur India with stop loss of Rs 98, says Vasudev, technical analyst, on NDTV Profit. It has resistance at Rs 108 crossing which it can go up to Rs 136 in a couple of weeks, he adds. The stock is currently trading at Rs 103.70, up 1.9% on the BSE.

Avoid Reliance Industrial Infrastructure, says Ashwani Gujral, technical analyst, on CNBC TV18. Since it has been excluded from F&O, it has been coming down consistently and has support around Rs 550, he adds. The stock is currently trading at Rs 724.10, up 1.1% on the BSE. 

Buy Alstrom Projects at Rs 260 with long-term view, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 311.20, up 2.4% on the BSE.

Hold Tata Motors for one year for good returns, says MB Singh, technical analyst, on Zee Business. Add more when it comes to Rs 150-160, he adds. The stock is currently trading at Rs 233.10, up 0.1% on BSE.  

Exit Ispat Industries and instead invest in Tata Steel or Sail, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. Margin of safety in these stocks is higher and good returns can be expected, he adds. The stock is currently trading at Rs 13.10, up 1.6% on the BSE. 

The market at noon is looking very good and trading firm, just ahead of F&O expiry. Banking stocks are leading the buying interest. Sensex is trading at 11232, up 230 points from its previous close, and Nifty is at 3435, up 73 points. CNX Midcap index is up 0.5% and BSE Smallcap index is up 0.9%. The market breadth is positive with advances at 690 against declines of 433 on the NSE.

Buy Bharti Airtel on dips at Rs 650 for long-term target of Rs 825, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 728.10, up 0.3% on the BSE. 

Buy Unitech at Rs 36-37, says Hemant Thukral of Asian Market Securities on CNBC TV18. The stock is currently trading at Rs 42.35, down 1.4% on the BSE. 

Buy Indiabulls Real Estate with target of Rs 145, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 110, he adds. The stock is currently trading at Rs 124.45, up 1% on the BSe. 

Hold Rolta India for long term with stop loss of Rs 69, says MB Singh, technical analyst, on Zee Business. Do not buy at current levels but only when it closes above Rs 90, he adds. The stock is currently trading at Rs 76.25, up 1.3% on the BSE. 

Exit Patni Computer on any bounce-back, says Sandeep Shenoy of Pinc Research on CNBC Awaaz. Fundamentally, there is not much in this stock, he adds. The stock is currently trading at Rs 162.80, up 8.2% on the BSE.  

The correction is largely over and I expect the Nifty to settle between 3400-3500 levels on expiry, says Deven Choksey of KR Choksey Securities on CNBC TV18. He believes that the uptrend is likely to resume next week and the Nifty could go up to 3660 in the near-term. He likes L&T, Cipla and SBI. 

Hold Punj Lloyd with stop loss below Rs 105, says Pradeep Surekha, technical analyst, on Zee Business. It has resistance at Rs 118-119 crossing which it can go up to Rs 125, he adds. If it does not close above Rs 119 then exit, he says. The stock is currently trading at Rs 115.75, up 2.8% on the BSE.

Buy MindTree at Rs 260, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep target of Rs 370, he adds. The stock is currently trading at Rs 303.20, down 1.2% on the BSE.

An hour into opening, the market is holding steady with gains in both Sensex and Nifty. There is buying seen in oil & gas, telecom, banking and metal stocks. The Asian markets continue to be in the green. Sensex is trading at 11146, up 143 points from its previous close, and Nifty is at 3406, up 44 points. CNX Midcap index is up 0.7% and BSE Smallcap index is up 0.7%. The market breadth is positive with advances at 673 against declines of 384 on the NSE.

Buy JP Associates at around Rs 120-122 for the next series, says Hemant Thukral of Asian Market Securities on CNBC TV18. The stock is currently trading at Rs 132.40, up 2% on the BSE. 

Hold GVK Power with stop loss below Rs 25.70, says Pradeep Surekha, technical analyst, on Zee Business. There will be buying opportunity again at Rs 21-22, he adds. This stock will perform well in the future, he says. It is currently trading at Rs 27.30, up 1.7% on the BSE. 

Buy Mercator Lines with intra-day target of Rs 35, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 32, he adds. The stock is currently trading at Rs 32.95, up 1% on the BSE. 

Hold GMR Infra with stop loss of Rs 105, says Pradeep Surekha, technical analyst, on Zee Business. Exit when it reaches Rs 115-118, he adds. The stock is currently trading at Rs 109.50, up 0.5% on the BSE. 

Buy KPIT Cummins on dips at Rs 42, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep target of Rs 55, he adds. The stock is currently trading at Rs 46.10, up 4.2% on the BSE.

Buy Godrej Consumer Products with intra-day target of Rs 155, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 135, he adds. The stock is currently trading at Rs 145, up 0.1% on the BSE. 

Buy Colgate-Palmolive at current levels, says Hemen Kapadia, technical analyst, on CNBC TV18. The stock is currently trading at Rs 484.50, up 1.1% on the BSE.

Buy Reliance Infrastructure with intra-day target of Rs 700, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 650, he adds. The stock is currently trading at Rs 685.45, up 3.5% on the BSE.

Sell OBC at Rs 129 with target of Rs 122, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 132, she adds. The stock is currently trading at Rs 129.35, up 0.1% on the BSE.

Buy Sterlite Industries with intra-day target of Rs 410, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. It has support at Rs 377, he adds. The stock is currently trading at Rs 393.40, up 2.7% on the BSE. 

Buy Noida Toll Bridge with intra-day target of Rs 32, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 26, he adds. The stock is currently trading at Rs 30.60, up 9.1% on the BSE.

The market opens on a relatively positive note today. Earlier in the day, the US markets ended flat after a choppy session. The Asian markets are trading firm. Sensex is trading at 11153, up 150 points from its previous close, and Nifty is at 3404, up 42 points. CNX Midcap index is up 1.3% and BSE Smallcap index is up 0.7%. The market breadth is positive with advances at 445 against declines of 150 on the NSE. 

The Nifty rollover in value terms has been higher and the index should close around 3400-3420 today, says Tushar Mahajan of Edelweiss Securities on CNBC TV18. He expects to see upward pressure from volume weighted average price trading in the last 30 minutes and believes that Implied volatility could remain high. Look to buy Nifty at 3330 with 25 points stop loss and 50 points target, says Hemen Kapadia, technical analyst, on CNBC TV18.  » Send to friends

Compiled and Brought to you by 

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Intelligent Investor -
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Bangalore India

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