Tuesday, May 5, 2009

Market Voices 05-05-09

Market Voices 05-05-09

After yesterday's spectacular rally, the Indian market paused and ended flat today. Global markets too were quiet today. Sensex shut shop at 12131, down 3 points and Nifty at 3661, up 7 from the previous close. CNX Midcap index was up 0.89% and BSE Smallcap index was up 1.98%. The market breadth was positive with advances at 831 against declines of 382 on the NSE. Top Nifty gainers included DLF, Unitech and Suzlon while losers were HDFC, ITC and BPCL. 

Buy Godrej Industries with a target of Rs 140, says Rajen Shah of Angel Broking, on CNBC Awaaz. The stock is currently trading at Rs 85, up 10.9% on the BSE. Hold Godrej Industries with a target of Rs 90 after which it will gather more momentum and keep a stop loss of Rs 70, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 85, up 10.9% on the BSE. 

Buy IVRCL Infra with a target of Rs 188-200 and stop loss of Rs 146, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 178, up 1.7% on the BSE. 

In a correction, buy Punj Lloyd around Rs 115 with a short-term target of Rs 140 and stop loss of Rs 105, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 129, up 1.7% on the BSE. 

Buy Tata Motors with a target of Rs 307 and stop loss of Rs 247, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 272, up 6% on the BSE.

The market has some more steam and the rally could go up to 12300-12800 on the Sensex and 3250-3900 on Nifty till the elections, says Deven Choksey of KR Choksey, on CNBC Awaaz. The market is then likely to consolidate around August-September in Nifty range of 3250-3850, he adds.  

The Indian market paused and ended flat today after a swift run up yesterday and quiet global cues. Sensex closed at 12092, down 41 points (provisional) and Nifty at 3649, down 4 points (provisional) from the previous close. CNX Midcap index was up 0.66% and BSE Smallcap index was up 1.92%. The market breadth was positive with advances at 830 against declines of 389 on the NSE. 

Buy Reliance Power with a target of Rs 144 and stop loss of Rs 132, reports Trade Swift Broking on CNBC Awaaz, as closing market strategy. 

Nifty has support at 3656, buy on dips, says E Mathew, technical analyst, on CNBC TV18, as closing market strategy. Buy Core Projects with a target of Rs 150 and stop loss of Rs 92, he adds.  

Hold Nifty long with target of 3750-3820 and stop loss of 3620, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy. Buy ICICI Bank with a target of Rs 600 and stop loss of Rs 560, he adds. 

Buy ICICI Bank with a target of Rs 630, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy. The stock is currently trading at Rs 570, up 7.6% on the BSE. 

It is time to book profits at current levels, says Ambareesh Baliga of Karvy Stock Broking on Zee Business. It's a buy on dips market, L&T and BHEL look good for the long term, he adds. 

Emerging markets are likely to do well and move first and government and companies have high reserves and low debts, says Mark Mobius of Temple Asset Management, on NDTV Profit. India has broken out of the downturn and now will see some choppiness before it moves up dramatically, he adds. While India looks very good, it is important to look at valuations too, he says.

The market is seeing some choppiness in a small range. Sensex is trading at 12184, up 49 points and Nifty is at 3670, up 16 points from the previous close. CNX Midcap index is up 1.08% and BSE Smallcap index is up 1.92%. The market breadth is positive with advances at 824 against declines of 385 on the NSE. 

In a correction, buy Financial Technologies around Rs 720 with a short-term target of Rs 840, medium-term target of Rs 950 and stop loss of Rs 630, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 781, down 1.4% on the BSE.  

Buy Reliance Capital with a target of Rs 620 and stop loss of Rs 560, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 596, up 5.4% on the BSE. 

In a correction, buy Great Eastern Shipping around Rs 218 with a short-term target of Rs 250, medium-term target of Rs 280 and stop loss of Rs 200, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 238, up 5.7% on the BSE. 

Buy Tata Steel with a target of Rs 300 and stop loss of Rs 250, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 282, up 7.2% on the BSE. 

In a correction, buy Siemens around Rs 307 with a short-term target of Rs 350, medium-term target of Rs 390 and stop loss of Rs 290, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 327, down 2.8% on the BSE.

Buy SBI with a target of Rs 1415 and stop loss of Rs 1325, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1363, down 0.19% on the BSE. 

In a correction, buy Crompton Greaves around Rs 165 with a short-term target of Rs 185, medium-term target of Rs 195 and stop loss of Rs 150, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 174, down 0.77% on the BSE. 

Buy Petronet LNG with a target of Rs 74 in the near term, says Gaurang Jain of HEM Securities, on CNBC Awaaz. The stock is currently trading at Rs 52, up 0.38% on the BSE.  

In a correction, buy Bajaj Hindustan around Rs 77 with a short-term target of Rs 95, medium-term target of Rs 110 and stop loss of Rs 69, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 101, up 23% on the BSE. 

The market is seeing some recovery but still quiet. Sensex is trading at 12131, down 3 points and Nifty is at 3660, up 6 points from the previous close. CNX Midcap index is up 0.79% and BSE Smallcap index is up 1.60%. The market breadth is positive with advances at 757 against declines of 436 on the NSE. 

Hold Praj Industries with a short-term target of Rs 90 where one can book partial profits and if this resistance is crossed there will be more momentum, says MB Singh, technical analyst, on Zee Business. If the stock corrects to Rs 50, one can buy more, he adds. The stock is currently trading at Rs 70, up 2.86% on the BSE. 

Buy Welspun Gujarat with a target of Rs 350 and more over 3 years, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 105, up 0.38% on the BSE. 

JP Morgan maintains a buy call on DLF with a target of Rs 260 versus Rs 200, reports NDTV Profit. The stock is currently trading at Rs 251, up 7.6% on the BSE. 

Hold Suzlon with a short-term target of Rs 74, medium-term target of Rs 105, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 70, up 7.13% on the BSE. 

The market has rallied and many are feeling left out, feels Anand Tandon of Brics Securities, on CNBC TV18. The uncertainty post elections may provide a correction which should be used as an opportunity to enter the market, he adds.

The Asian markets are trading lackluster and European markets have opened quiet. Our market is also seeing a quiet session. Sensex is trading at 12023, down 111 points and Nifty is at 3624, down 29 points from the previous close. CNX Midcap index is up 0.11% and BSE Smallcap index is up 0.97%. There is buying in realty stocks. The market breadth is positive with advances at 727 against declines of 455 on the NSE. 

Buy Dabur India with a target of Rs 136, says Gaurang Jain of HEM Securities, on CNBC Awaaz. The stock is currently trading at Rs 105, up 1.3% on the BSE.

Buy Coromandel Fertilisers and Chambal Fertilisers at current levels with long-term view, says DD Sharma of Anand Rathi Securities on NDTV Profit. 

Sell Reliance Infrastructure at Rs 761 with target of Rs 740, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 772, he adds. The stock is currently trading at Rs 771.90, up 3% on the BSE. 

Hold JP Hydro with short-term targets of Rs 44 and then 58, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 37, he adds. The stock is currently trading at Rs 40.20, down 1.1% on the BSE.

Hold ICICI Bank with long-term view or buy on dips, says DD Sharma of Anand Rathi Securities on NDTV Profit. This stock has attractive valuations and will give good returns in the long term, he adds. The stock is currently trading at Rs 550, up 4% on the BSE. 

Hold Bhushan Steel and exit when it reaches Rs 500, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. And then invest in Tata Steel instead, he adds. The stock is currently trading at Rs 441, up 3.8% on the BSE.

Book profits in SBI and buy again when it comes down to Rs 1150-1200, says Ashu Kakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 1362, down 0.3% on the BSE. 

Stay away from Infosys, says Rajiv Mehta of India Infoline on CNBC Awaaz. It can fall to Rs 1200 and then Rs 1050, he adds. The stock is currently trading at Rs 1560.05, down 4.3% on the BSE. 

Resistance for S&P 500 is seen at 950, says Louise Yamada of Louise Yamada Technical Research Advisors on CNBC TV18. She believes that the Nifty could rally to 3800 and then face resistance at 4000. She expects profit booking at those levels and advises keeping a trailing stop loss. 

Hold Bajaj Hindustan for now, says Deepak Mohoni, technical analyst, on CNBC TV18. This is not the right time to buy or book profits, he adds. The stock is currently trading at Rs 86.80, up 5.8% on the BSE. 

The market at noon is slipping and trading near the day's low. Oil & gas and technology stocks are seeing pressure. Sensex is trading at 12026, down 109 points from its previous close, and Nifty is at 3629, down 25 points. CNX Midcap index is up 0.3% and BSE Smallcap index is up 1%. The market breadth is positive with advances at 731 against declines of 446 on the NSE. 

Hold Sterlite Industries with target of Rs 545-550, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 468, down 2.3% on the BSE. 

Buy GVK Power when it reaches Rs 31 with target of Rs 45-50 in a year, says Nitin Murarka of SMC Global on Zee Business. Overall it is a good stock, he adds. The stock is currently trading at Rs 28.55, up 0.4% on the BSE. 

Buy IDFC on dips at Rs 82-83, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep short-term target of Rs 95-100, he adds. The stock is currently trading at Rs 83.75, down 1% on the BSE. 

Buy Suzlon Energy with stop loss of Rs 62, says Nitin Murarka of SMC Global on Zee Business. Keep short-term target of Rs 74 and medium-term target of Rs 85-90, he adds. The stock is currently trading at Rs 69.10. up 4.8% on the BSE. 

Hold Cairn India with target of Rs 235-240, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 180, he adds. The stock is currently trading at Rs 205.30, up 1.7% on the BSE.

Hold SBI with target of Rs 1400, says Simi Bhaumik, technical analyst, on Zee Business. Keep a trailing stop loss of Rs 1340, she adds. The stock is currently trading at Rs 1382.40, up 1.2% on the BSE. 

Hold Tata Motors with target of Rs 300, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 230, he adds. The stock is currently trading at Rs 266.50, up 3.6% on the BSE. 

An hour into opening, the market is trading volatile after a flat opening, on the back of buying interest. The Asian markets are now trading flat. Sensex is trading at 12148, up 13 points from its previous close, and Nifty is at 3662, up 8 points. CNX Midcap index is up 1.6% and BSE Smallcap index is up 2%.

Buy Tata Steel with target of Rs 310 in a couple of weeks, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 276.40, up 5.1% on the BSE. 

This momentum is strongly backed by excess liquidity across the globe, says Keshav Sanghi of Reliance International Equities on CNBC TV18. It's difficult to predict the short-term moves, but I expect markets to end higher from current levels by end of this year, he adds. He believes that the election will be a key trigger to watch and in the near-term may provide a reason for intermediate correction. 

Buy NIIT Ltd with intra-day target of Rs 34, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 27, he adds. The stock is currently trading at Rs 30.45, up 2.4% on the BSE. 

Hold Unitech with target of Rs 65-70, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 42, he adds. The stock is currently trading at Rs 53.55, up 8.7% on the BSE. 

Buy KSK Energy with intra-day target of Rs 190, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 172, he adds. The stock is currently trading at Rs 186.25, up 5.1% on the BSE.

Buy Sterlite Industries only at Rs 430-435 with targets of Rs 500 and 540, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss below Rs 425, she adds. The stock is currently trading at Rs 467, down 2.5% on the BSE. 

Buy Moser Baer with intra-day target of Rs 80, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 62, he adds. The stock is currently trading at Rs 69.75, up 3% on the BSE. 

Buy Tata Motors at Rs 258 with target of Rs 268, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 252, she adds. The stock is currently trading at Rs 261.50, up 1.7% on the BSE. 

Buy Eveready Industries with intra-day target of Rs 30, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 23.25, he adds. The stock is currently trading at Rs 26.50, up 5.6% on the BSE. 

The market opens on a flat note today, in a sideways mode. The Asian markets are trading mixed. Sensex is trading at 12063, down 71 points from its previous close, and Nifty is at 3634, down 19 points. CNX Midcap index is up 0.5% and BSE Smallcap index is up 0.6%. The market breadth is positive with advances at 429 against declines of 157 on the NSE. 

Buy L&T at Rs 952 with target of Rs 972, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 939, she adds. The stock is at Rs 952.40, up 8.3% on the BSE. 

The positive trend may continue and I would not rule out Nifty crossing the 3750 mark, says VK Sharma of Anagram Stock Broking on CNBC TV18. He adds that he would not take too many cues from Options data as there is no directional indication there. He likes Cairn and Hindustan Oil Exploration Company.

For the next couple of weeks buy on decline, says Rahul Mohindar, technical analyst, on CNBC TV18. He reckons that the Nifty could go up to 3800-3900 levels.  

The market is in an uptrend now but investors should wait for the election results before investing, says Ambareesh Baliga of Karvy Stock Broking on CNBC Awaaz.  

The market is in a strong uptrend now, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Buy on dips during the day, he adds. He advises waiting for a 30-40 point decline before buying.  

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