Thursday, April 9, 2009

Market Voices 9th April 2009

Market Voices 9th April 2009

It was a volatile session of trade today with a flat closing for the market.
Sensex closed at 10802, up 60 points (provisional) and Nifty at 3341, down 1
point (provisional) from the previous close. CNX Midcap index was up 0.59% and
BSE Smallcap index was up 1.46%. The market breadth was positive with advances
at 815 against declines of 428 on the NSE.

Sell Nifty with a target of Rs 3150 and stop loss of Rs 3450, says Ashwani
Gujaral, technical analyst, on CNBC TV18, as closing market strategy.

Hold on to Nifty longs with a trailing stop loss of 3230, says E Mathew,
technical analyst, on CNBC-TV18, as closing market strategy. Buy Jayshree Tea
for a target of Rs 160 and stop loss of Rs 100, he adds. The stock is currently
trading at Rs 111, up 21% on the BSE.

Buy BoB for a target of Rs 270 and stop loss of Rs 254, says Prakash Gaba,
technical analyst, on CNBC Awaaz, as closing market strategy. The stock is
currently trading at Rs 257, up 4.5% on the BSE.

Book profits around Nifty 3400-3450 levels, says E Mathew, technical analyst, on
CNBC Awaaz, as closing market strategy. Buy Hitachi Home for a target of Rs 74
and stop loss of Rs 38, he adds. The stock is currently trading at Rs 45, up 19%
on the BSE.

This is a buy in dips market as Nifty resistance is 3450, says Vijay Bhambwani,
technical analyst, on CNBC Awaaz. At 3450, it's the 200 DMA for Nifty and if
this major resistance is crossed then the next level is 3600, he adds.

The market seems to be in the last leg of its upmove so it is best to book
profits at higher levels, says Ambareesh Baliga of Karvy Stock Broking on Zee
Business. This is not the time to go long, he says. The market is likely to see
a correction in the next 2-3 weeks so book profits on all rallies, he adds.

The market is choppy in a tight range. Sensex is trading at 10804, up 62 points
and Nifty is at 3335, down 7 points from the previous close. CNX Midcap index is
up 1.26% and BSE Smallcap index is up 1.98%. The market breadth is positive with
advances at 887 against declines of 354 on the NSE.

Hold Purvankara with a target of Rs 60 after which it can go to Rs 95-100 and
keep a stop loss of Rs 48, says Jatindar Sharma, technical analyst, on CNBC
Awaaz. The stock is currently trading at Rs 56, up 20% on the BSE.

Hold Tata Motors with a target of Rs 235-238, says Vijay Bhambwani, technical
analyst, on CNBC TV18. The stock is currently trading at Rs 226, up 1.57% on the
BSE.

Hold JP Hydro with a target of Rs 44-45 where one can book profits and keep a
stop loss of Rs 35, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The
stock is currently trading at Rs 39, up 12% on the BSE.

HEM Securities maintains a buy call on Sun Pharma with a target of Rs 1170 and
stop loss of Rs 1100, reports CNBC Awaaz. The stock is currently trading at Rs
1130, up 1.7% on the BSE.

Buy India Cements with a target of Rs 140 and stop loss of Rs 96, says Neera
Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 112,
up 0.27% on the BSE.

Buy Aban Offshore with a target of Rs 480-490 and stop loss of Rs 430, says a
technical analyst, on Zee Business. The stock is currently trading at Rs 444, up
2.15% on the BSE.

Buy Cairn India with a target of Rs 225 and stop loss of Rs 195, says Nitin
Murarka of SMC Global Securities, on Zee Business. The stock is currently
trading at Rs 198, down 2.7% on the BSE.

Sell Essar Oil on rallies, with a target of Rs 145-150, says Hardik Jain of
Angel Broking on CNBC Awaaz. The stock is currently trading at Rs 133, up 3.1%
on the BSE.

Positive global cues are helping our market hold up in the positive. Though the
market is seeing profit booking at higher levels and is under some pressure.
Sensex is trading at 10828, up 86 points and Nifty is at 3350, up 8 points from
the previous close. CNX Midcap index is up 0.81% and BSE Smallcap index is up
1.60%. The market breadth is positive with advances at 811 against declines of
412 on the NSE.

SMC Global maintains a buy call on 3i Infotech with a target of Rs 44 and stop
loss of Rs 34, reports CNBC Awaaz. The stock is currently trading at Rs 38, up
1.8% on the BSE.

Buy Reliance Communications with a target of Rs 250 and stop loss of Rs 170,
says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading
at Rs 210, down 1.2% on the BSE.

HEM Securities maintains a buy call on Power Grid with a target of Rs 112 and
stop loss of Rs 94, reports CNBC Awaaz. The stock is currently trading at Rs 96,
down 2.24% on the BSE.

Buy JP Associates with a target of Rs 118-120 and stop loss of Rs 102, says
Nitin Murarka of SMC Global Securities, on Zee Business. The stock is currently
trading at Rs 111, up 4.8% on the BSE.

This is not the time to invest for the long term, says Rajesh Tambe, market
expert, on Zee Business. The year 2009 will be a tough one and when the market
falls again, Sensex around 8500 one can enter in a staggered manner, he adds.

The market has moved near the bottom and the current rally is expected to taper
off soon, says Nilesh Shah of ICICI Prudential, on CNBC TV18. Sensex levels on
the lower side would be 8000-8500 and 10000-10500 on the higher side, he adds.

The rally in the market does not look sustainable, feels Ambareesh Baliga of
Karvy Stock Broking, on CNBC TV18. It is best to book profits and cut losses, he
adds.

The Asian markets have wrapped up a strong session. European markets have opened
firm. Our market is seeing a mildly choppy session but trading in the positive.
Midcaps are outperforming and there is buying in realty, metal and banking
stocks. Sensex is trading at 10866, up 124 points and Nifty is at 3362, up 19
points from the previous close. CNX Midcap index is up 1.86% and BSE Smallcap
index is up 2.70%. The market breadth is positive with advances at 950 against
declines of 265 on the NSE.

Exit ABG Shipyard at Rs 135-137, says Mitesh Thakkar, technical analyst, on CNBC
TV18. Buy again at Rs 110, he adds. The stock is currently trading at Rs 134.95,
up 6.4% on the BSE.

Exit from Unitech at Rs 50, says Ashwani Gujral, technical analyst, on CNBC
Awaaz. Buy again at Rs 27-28, he adds. It is trading range-bound at the moment,
he says. The stock is currently trading at Rs 43.30, up 10% on the BSE.

SMC Global maintains a buy call on ITC with target of Rs 220, reports CNBC
Awaaz. Keep stop loss of Rs 177, it adds. The stock is currently trading at Rs
188.05, down 1% on the BSE.

Hold UB Holdings which is fundamentally a sound stock, says Paras Bothra of
Ashika Stock Broking on NDTV Profit. It will give good returns in the long term,
he adds. The stock is currently trading at Rs 114.90, up 9.2% on the BSE.

Buy Tata Motors at around Rs 210-205, says Mitesh Thakkar, technical analyst, on
CNBC TV18. Keep target of Rs 250 over the next few weeks, he adds. The stock is
currently trading at Rs 229.80, up 3.1% on the BSE.

Buy RCF at around Rs 40, says Ashwani Gujral, technical analyst, on CNBC Awaaz.
Keep target of Rs 53, he adds. The stock is currently trading at Rs 46.35, up
9.5% on the BSE.

Hold RCom with stop loss of Rs 190, says PK Agarwal, market expert, on Zee
Business. The stock is currently trading at Rs 217.65, up 2% on the BSE.

The market at noon appears to be gaining grounds, oblivious to the declaration
of the inflation and IIP figures. Sensex is trading at 10886, up 144 points from
its previous close, and Nifty is at 3372, up 30 points. CNX Midcap index is up
1.6% and BSE Smallcap index is up 2.2%. The market breadth is positive with
advances at 926 against declines of 289 on the NSE.

February Manufacturing Index is at -1.4%, Captial Goods output up 10.4%, Mining
Output at -1.6% while Consumer Goods output is at -3%, reports NDTV Profit.

February IIP figure has been declared at -1.2% versus the January IIP figure of
-0.5%, reports NDTV Profit.

Buy Balrampur Chini on dips at around Rs 50-52, says Ambareesh Baliga of Karvy
Stock Broking on CNBC TV18. Keep short- to medium-term target of Rs 75, he adds.
The stock is currently trading at Rs 64.30, up 3.7% on the BSE.

The WPI for all commodities remains unchanged at 227.3, reports NDTV Profit.
Manufactured products index is up 0.2% (WoW) while the Primary Articles index is
down 0.3% (WoW), it adds.

The inflation figure for week ended March 28 has been declared at 0.26% versus
the earlier figure of 0.31%, reports NDTV Profit.

Hold Gujarat NRE Coke with target of Rs 33-35, says Simi Bhaumik, technical
analyst, on Zee Business. The stock is currently trading at Rs 25.35, up 4.1% on
the BSE.

Hold Reliance Capital with stop loss of Rs 400, says PK Agarwal, market expert,
on Zee Business. The stock is currently trading at Rs 467.80, up 3% on the BSE.

Buy Jet Airways on dips at around Rs 190 with target of Rs 280-290 in 4-5 weeks,
says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. Keep stop loss below
Rs 170, he adds. The stock is currently trading at Rs 212.05, down 2.5% on the
BSE.

The last leg of the current rally is largely liquidity driven, says Devesh Kumar
of Centrum Finance on CNBC TV18. He feels that there could be some volatility
due to the elections. Profit booking is expected around 3400 on the Nifty, he
adds.

Buy Suzlon Energy on dips at around Rs 45 with target of Rs 67-72, says Simi
Bhaumik, technical analyst, on Zee Business. It is quite strong on the charts,
she adds. The stock is currently trading at Rs 57.90, down 0.3% on the BSE.

Go short on the Nifty with target of 3250, says Ashwani Gujral, technical
analyst, on CNBC TV18. Keep stop loss of 3360, he adds.

An hour into opening, the market is trading choppy and volatile after a strong
start. The Asian markets are looking good with the Taiwan market leading the
gains. Sensex is trading at 10831, up 89 points from its previous close, and
Nifty is at 3357, up 15 points. CNX Midcap index is up 0.7% and BSE Smallcap
index is up 1.1%. The market breadth is positive with advances at 834 against
declines of 321 on the NSE.

Hold Tata Motors with target of Rs 270, says Sudarshan Sukhani, technical
analyst, on CNBC Awaaz. Keep stop loss of Rs 210, he adds. The stock is
currently trading at Rs 231.70, up 4% on the BSE.

Buy Tata Steel on dips at around Rs 220 with target of Rs 280, says Simi
Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 205, she adds.
The stock is currently trading at Rs 247.10, up 1.9% on the BSE.

Buy Tanla Solutions with intra-day gains of 5-10%, says Anil Singhvi, technical
analyst, on CNBC Awaaz. Keep small stop loss of Rs 41, he adds. The stock is
currently trading at Rs 44.60, up 6% on the BSE.

Buy HDIL on dips with short- to medium-term target of Rs 145-149, says Simi
Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 85, she adds.
The stock is currently trading at Rs 117.05, up 0.6% on the BSE.

Buy Mundra Port with target of Rs 400-440, says Ashwani Gujral, technical
analyst, on CNBC Awaaz. Keep stop loss of Rs 330-350, he adds. The stock is
currently trading at Rs 376.50, up 2.7% on the BSE.

Buy ABG Shipyard with intra-day target of Rs 136, says Anil Singhvi, technical
analyst, on CNBC Awaaz. The stock is currently trading at Rs 123.55, down 2.6%
on the BSE.

Buy Triveni Engineering & Industries with target of Rs 62, says Sudarshan
Sukhani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 50, he adds. The
stock is currently trading at Rs 51.60, down 1.9% on the BSE.

Buy JSW Holdings with intra-day target of Rs 440, says Anil Singhvi, technical
analyst, on CNBC Awaaz. Keep stop loss of Rs 400, he adds. The stock is
currently trading at Rs 430, up 7.4% on the BSE.

Buy Indiabulls Real Estate with intra-day target of Rs 150, says Anil Singhvi,
technical analyst, on CNBC Awaaz. Keep stop loss of Rs 125, he adds. The stock
is currently trading at Rs 130.75, up 1.7% on the BSE.

The market gets off to a positive start this morning, in the steps of good
global cues. Metals, banks, autos and realty stocks are leading the gains.
Sensex is trading at 10840, up 98 points from its previous close, and Nifty is
at 3369, up 26 points. CNX Midcap index is up 1.8% and BSE Smallcap index is up
1.8%. The market breadth is positive with advances at 617 against declines of 70
on the NSE.

The market might open gap up but is unlikely to sustain gains, says Siddharth
Bhamre of Angel Broking on CNBC TV18. He does not advise investors to open fresh
shorts now. Data suggest that FIIs have created fresh shorts in stocks like SBI,
Bharti Airtel and ONGC, he adds.

Exit 60 to 70% of your holdings when Nifty is in the range of 3450-3550, says
Rahul Mohindar, technical analyst, on CNBC Awaaz. He believes that 3100-3200
levels will return at which point one can buy again.

Short-term target of Nifty is 3400-3450, says E Mathew, technical analyst, on
CNBC TV18. He sees the next target at 3750-3800.

Nifty has support at 3240-3250 with short-term target of 3450, says Ashwani
Gujral, technical analyst, on CNBC TV18. He sees medium-term target at
3700-3800. He believes that midcap stocks will outperform in this leg of the
rally.

Nifty has support at 3150 at which level one can buy, says Sudarshan Sukhani,
technical analyst, on CNBC Awaaz. He feels that this rally is a short-term one
and the long-term trend is still negative. He advises profit booking at higher
levels.