Wednesday, April 8, 2009

Market Voices 8th April 2009

The weakness in the market seems over and it has made higher top and higher bottom which is a good sign, says Nitin Murarka of crnindia.com, on Zee Business. There could be some more momentum to this rally with Nifty target of 3600, so maintain a stop loss of 3250, he adds.  

The rally in the market today was driven by domestic traders who saw an opportunity to get in on dips, says Deven Choksey of KR Choksey, on CNBC-TV18. Now it seems fund managers want to participate and confidence seems to be returning, he adds.  

It was a phenomenal day on the Indian market that outperformed its global peers. After a poor start, Sensex recovered 600 points and Nifty 200 points from the day's lows and closed at the day's highs. The rally was led by midcaps and smallcaps backed with large volumes. Sensex closed at 10758, up 224 points (provisional) and Nifty at 3346, up 90 points (provisional) from the previous close. CNX Midcap index was up 2.11% and BSE Smallcap index was up 4.48%. The market breadth was positive with advances at 1054 against declines of 184 on the NSE. 

Buy 3300 Nifty call and hold till next week, says Sudarshan Sukhani, technical analyst, on CNBC TV18, as closing market strategy. 

Hold Nifty long positions with target of 3395 and stop loss below 3270, says Rajat Bose, technical analyst, on CNBC TV18, as closing market strategy. Buy Unitech with a stop loss below Rs 37, he adds.  

Buy Reliance Power with a target of Rs 134-137 and stop loss of Rs 110, says Hitendra Vasudeo of stockmechanics.com, on CNBC Awaaz, as closing market strategy.  

This market is warning bears not to open shorts, says Vijay Bhambwani, technical analyst, on CNBC TV18. Nifty seems intent on going to 3400 and it is in one's interest to stay long, he adds. 

This has been a surprising rally despite poor global cues, says Kavi Kumar, market expert, on CNBC Awaaz. The market is moving into stronger hands, he feels. This is smart money and long-term investors getting into the market which is a good sign, he adds. 

The Indian market has outperformed its global peers and is looking very good. It is a midcap and smallcap led rally with largecaps playing catchup. Sensex is trading at 10688, up 153 points and Nifty is at 3324, up 67 points from the previous close. CNX Midcap index is up 2.18% and BSE Smallcap index is up 4.4%. The market breadth is positive with advances at 1064 against declines of 175 on the NSE. 

Buy Ashok Leyland with a target of Rs 23 and stop loss of Rs 16, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 19, up 5.1% on the BSE. 

Buy Idea Cellular with a target of Rs 58 after which it can show fresh momentum, says Simi Bhaumik, technical analyst, on Zee Business. Keep a stop loss of Rs 48, she adds. The stock is currently trading at Rs 53, up 1.2% on the BSE. 

Buy Power Grid with a target of Rs 105 and stop loss of Rs 88, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 93, up 1.29% on the BSE. 

Buy 3i Infotech on dips with a target of Rs 39-42 after which it can show fresh momentum, says Simi Bhaumik, technical analyst, on Zee Business. Keep a stop loss of Rs 29, she adds. The stock is currently trading at Rs 37, up 6.2% on the BSE. 

Hold Reliance Capital with a target of Rs 500 where one can exit the stock, says Prasad Kushe, technical analyst, on CNBC Awaaz. Buy the stock around Rs 325 on dips, he adds. The stock is currently trading at Rs 447, up 4.3% on the BSE.  

The intermediate medium-term trend is up, so one should stay long, says E Mathew, technical analyst on CNBC TV18. Nifty has strong support at 3150, and 3210 is the level to jump in, he feels. Nifty will see profit booking at 3300, he adds. In this uptrend, the first Nifty target is 3450-3500 and the next target is 3750-3800, he says. 

Buy Suzlon on dips with a target of Rs 60-66-70, says Simi Bhaumik, technical analyst, on Zee Business. Book partial profits at Rs 66, she adds. The stock is currently trading at Rs 58, up 3.3% on the BSE.

Despites poor global cues, our market is outperforming and seeing a smart recovery. The rally is being led by midcap and smallcap stocks. Sensex is trading at 10439, down 95 points and Nifty is at 3241, down 15 points from the previous close. CNX Midcap index is up 1.19% and BSE Smallcap index is up 3.48%. The market breadth is positive with advances at 959 against declines of 248 on the NSE.

Buy Hero Honda on dips around Rs 980 and book profits on rallies, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1070, up 0.95% on the BSE. 

Buy IDFC on dips with a target of Rs 70-75 after which it can show fresh momentum, says Simi Bhaumik, technical analyst, on Zee Business. Keep a stop loss of Rs 58, she adds. The stock is currently trading at Rs 66, up 1.3% on the BSE. 

Buy Jindal Steel & Power with a target of Rs 1360-1380 in the short term, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1255, down 1.8% on the BSE.  

Buy Bajaj Hindustan on dips with a target of Rs 62-66 after which it can show fresh momentum, says Simi Bhaumik, technical analyst, on Zee Business. Keep a stop loss of Rs 49, she adds. The stock is currently trading at Rs 60, up 8.3% on the BSE. 

Buy Sintex Industries with a target of Rs 230 in 12 months, says Hitesh Agarwal of Angel Broking, on CNBC Awaaz. The stock is currently trading at Rs 117, up 0.21% on the BSE.  » Send to friends

Buy JP Associates on dips with a target of Rs 100 after which it can show fresh momentum, says Simi Bhaumik, technical analyst, on Zee Business. Keep a stop loss of Rs 87, she adds. The stock is currently trading at Rs 98, up 1.1% on the BSE. 

There is some more upside left in the market, says Sangeeta Purshottam of Religare Securities, on CNBC-TV18. But it is difficult to predict how long this relief rally will last, she adds. 

The Asian markets are looking weak and European markets have also opened in the negative. Our market opened gap down but is now off the day's lows. Midcaps are outperforming and there is buying in consumer durables and realty stocks. Sensex is trading at 10374, down 159 points and Nifty is at 3227, down 29 points from the previous close. CNX Midcap index is up 0.96% and BSE Smallcap index is up 2.83%. The market breadth is positive with advances at 792 against declines of 375 on the NSE. 

Hold Essar Oil with target of Rs 185, says Ashu Bagri, technical analyst, on NDTV Profit. It has support at Rs 80-101, he adds. The stock is currently trading at Rs 127.50, up 7% on the BSE. 

Hold NTPC which is a fairly defensive stock, says Deepak Mohoni, technical analyst, on CNBC TV18. It has resistance at Rs 200 crossing which it will move into long-term uptrend, he adds. The stock is currently trading at Rs 188.10, up 2% on the BSE.  

Hold Dish TV with short-term target of Rs 40, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has support at Rs 20, he adds. The stock is currently trading at Rs 29.25, up 4.1% on the BSE. 

Buy Sterlite Industries on dips at Rs 325, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep target of Rs 440, he adds. The stock is currently trading at Rs 371.50, down 3.7% on the BSE. 

Hold Gammon India with long-term view, says DD Sharma of Anand Rathi Securities on NDTV Profit. It will give good returns, he adds. The stock is currently trading at Rs 77.20, up 9.2% on the BSE. 

Hold EIH with targets of Rs 124 and Rs 140, says Ashu Bagri, technical analyst, on NDTV Profit. It has support at Rs 100, he adds. The stock is currently trading at Rs 113, down 7.4% on the BSE. 

Buy fertiliser stocks on any dips, says Sudarshan Sukhani, technical analyst, on CNBC TV18. These stocks have come out of whatever correction they were in, he adds. 

Buy Tata Steel on dips at Rs 185, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep target of Rs 260, he adds. The stock is currently trading at Rs 231.05, down 2% on the BSE. 

The market momentum is likely to continue and I expect the Nifty to go up to 3500 levels ahead of the election results, says Amitabh Chakraborty of Religare Securities on CNBC TV18. He feels that a correction to around 3000 levels is likely after a resumption of the rally.  

The market at mid-day is now beginning to show signs of recovery with its breath looking positive. Sensex is trading at 10290, down 245 points from its previous close, and Nifty is at 3196, down 60 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 1.5%. The market breadth is positive with advances at 704 against declines of 449 on the NSE.  

Hold Infosys with stop loss of Rs 1300, says MB Singh, technical analyst, on Zee Business. It can even go up to Rs 1600, he adds. The stock is currently trading at Rs 1372.90, down 3% on the BSE. 

Exit Kolte-Patilm Developers on any rally, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. Fundamentally, it is not strong, he adds. The stock is currently trading at Rs 24.25, up 2.1% on the BSE. 

Buy Tata Motors on dips at Rs 175-180, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep target of Rs 265-270, he adds. The stock is currently trading at Rs 220.45, up 5.4% on the BSE. 

Exit RIL when it reaches Rs 1675-1700, says MB Singh, technical analyst, on Zee Business. Buy again when it comes down to Rs 1450-1500, he adds. The stock is currently trading at Rs 1611.25, down 3.7% on the BSE. 

The worst seems to be over for the economy and markets are not likely to break previous lows significantly, says Seshadri Sen of Macquarie Research on CNBC TV18. According to him, Sensex is likely to bottom out between 8000-8500. And in FY10 he sees Sensex between 9500-10000. 

Book partial profits in BPCL at current levels, says Rajat Bose, technical analyst, on CNBC Awaaz. Fresh investors stay away, he adds. The stock is currently trading at Rs 382.75, up 2.6% on the BSE. 

Buy Geetanjali Gems on dips at Rs 50-54, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep target of Rs 80, he adds. The stock is currently trading at Rs 62.95, up 1.2% on the BSE. 

Sell Hindalco for 5% gains, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 60.50, he adds. The stock is currently trading at Rs 55.25, down 7.8% on the BSE.  

An hour into opening, the market perks up very marginally but realty and banking stocks continue to plunge. Asian markets are trading lower. Sensex is trading at 10218, down 318 points from its previous close, and Nifty is at 3171, down 85 points. CNX Midcap index is down 0.7% and BSE Smallcap index is up 0.4%. The market breadth is negative with advances at 516 against declines of 586 on the NSE.  

Sell Bharti Airtel for 3-5% gains, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 665 he adds. The stock is currently trading at Rs 631.90, down 4.2% on the BSE. 

Buy Essar Oil on dips at Rs 95, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep target of Rs 150-155, he adds. The stock is currently trading at Rs 130.70, up 9.7% on the BSE. 

Sell Unitech with target of Rs 34, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 37.50, he adds. The stock is currently trading at Rs 35.05, down 4.8% on the BSE. 

Hold Moser Baer with target of Rs 63, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of Rs 53, he adds. The stock is currently trading at Rs 61.20, up 6.6% on the BSE. 

Buy DLF on dips at Rs 178, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep target of Rs 255-260, he adds. The stock is currently trading at Rs 199.10, down 5% on the BSE. 

Sell Cairn India for 3-5% gains, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 207, he adds. The stock is currently trading at Rs 196.05, down 3.2% on the BSE. 

Sell Great Eastern Shipping for 5% gains, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 191, he adds. The stock is currently trading at Rs 185.85, down 1.4% on the BSE.

Buy L&T at Rs 745-750 with target of Rs 820-860 over the next few weeks, Mitesh Thacker, technical analyst, on CNBC TV18. Keep stop loss of Rs 730, he adds. The stock is currently trading at Rs 747.10, down 3% on the BSE. 

Buy Satyam at Rs 45 with target of Rs 48, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 42, she adds. The stock is currently trading at Rs 46.15, up 2.2% on the BSE. 

Today, intra-day traders can sell on rally with stop loss above 3200, says Sudarshan Sukhani, technical analyst, on CNBC TV18.  

The market opens expectedly on a negative note due to weak global cues. Metals and banks appear to be dragging it down. Earlier, the US markets closed on a decline while the Asian markets are trading weak. Sensex is trading at 10173, down 362 points from its previous close, and Nifty is at 3150, down 106 points. CNX Midcap index is down 2.4% and BSE Smallcap index is down 1.1%. The market breadth is negative with advances at 86 against declines of 503 on the NSE.  

Intra-day traders buy Nagarjuna Construction only if market recovers, says Deepak Mohoni, technical analyst, on CNBC TV18. Keep stop loss of Rs 65, he adds. The stock is at Rs 70.40, down 0.4% on the BSE. 

Nifty has support at 3175-3125, says Rajat Bose, technical analyst, on CNBC Awaaz. As long as the 3125 mark is not broken, then one can buy at this level, he adds. 

There are still lots of short positions in the market which will give Nifty support around 3100-3150, says Abhinay Jain of Sharekhan on CNBC TV18. He recommends traders to buy at lower levels with stoploss. There has been huge build-up in trading stocks like Essar Oil, Nagarjuna Fertiliser and Ispat as momentum and volumes are back in F&O, he adds. He likes banking stocks. 

Till we hold 2850-2900 levels, there will be upside in the market, says Ashwani Gujral, technical analyst, on CNBC Awaaz. He reckons that the Nifty might go down by 4-5% today. 

Nifty may test 3150 levels today, says Mitesh Thacker, technical analyst, on CNBC TV18. Take long positions on decline to this level, he adds.