Thursday, May 7, 2009

Market Voices 07-05-09

Market Voices 07-05-09

It was a good day for the market that ended with firm gains. Sensex closed at 12106, up 153 points (provisional) and Nifty at 3681, up 56 points (provisional) from the previous close. CNX Midcap index was up 2.18% and BSE Smallcap index was up 2.81%. Metals outshined today and the index was up 8.5%. The market breadth was positive with advances at 922 against declines of 300 on the NSE. 

Buy Cairn India with a target of Rs 225 and stop loss of Rs 208, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy. 

Maintain Nifty long positions with target of 3740 and stop loss of 3640, says Rahul Mohindar, technical analyst, on CNBC-TV18, as closing market strategy. 

Book part profits in Nifty long positions and hold rest with target of 3710-3727 and stop loss below 3650, says Rajat Bose, technical analyst, on CNBC-TV18, as closing market strategy. 

Buy ICICI Bank with a target of Rs 600 and stop loss of Rs 530, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy. 

Hold Nifty long positions and take fresh positions once Nifty closes above 3685 with stop loss of 3600 and target of 3728, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz, as closing market strategy. 

Buy Tata Steel with a target of Rs 324-335, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 294, up 8.6% on the BSE.

Sensex target for 12-month period seen at 15000, says Clive McDonnel of BNP Paribas on CNBC TV18. FIIs willing to commit more money to India, he says. Bullish on markets with positive earnings growth for 2009, he feels. India, China and Indonesia to see positive earnings going ahead, he says. 

The market continues to trade firm. Sensex is trading at 12128, up 176 points and Nifty is at 3685, up 60 points from the previous close. CNX Midcap index is up 1.7% and BSE Smallcap index is up 2.3%. The market breadth is positive with advances at 883 against declines of 331 on the NSE. 

Sell Mahindra & Mahindra with a target of Rs 460 and stop loss of Rs 550, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 514, down 4.07% on the BSE.

Sharekhan maintains a buy call on BoB with a target of Rs 361, reports Zee Business. The stock is currently trading at Rs 321, up 2.06% on the BSE. 

Buy ABB with a target of Rs 550 and stop loss of Rs 450, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 475, down 1.1% on the BSE. 

Buy Hindustan Construction with a target of Rs 70-90, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 63, up 4.6% on the BSE. 

Sell Grasim with a target of Rs 1650 and stop loss of Rs 1850, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 1764, down 2.02% on the BSE. 

SMC Global maintains a buy call on Cairn India with a target of Rs 250 and stop loss of Rs 181, reports CNBC Awaaz. The stock is currently trading at Rs 213, up 6.3% on the BSE. 

The Asian markets saw profit booking at close while European markets have opened in the positive. Our market continues to look decent. Sensex is trading at 12064, up 111 points and Nifty is at 3660, up 35 points from the previous close. CNX Midcap index is up 1.4% and BSE Smallcap index is up 1.9%. The market breadth is positive with advances at 860 against declines of 326 on the NSE.

Sell LIC Housing with a target of Rs 350 and stop loss of Rs 450, says Nishant Jain of Tradeswift, on CNBC Awaaz. The stock is currently trading at Rs 375, down 1.25% on the BSE. 

Buy Aptech with a target of Rs 120 and if it crosses that it can go up further, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 112, up 6.2% on the BSE. 

Buy Kesoram around Rs 190 with a target of Rs 240 and stop loss of Rs 180, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 201, up 9% on the BSE. 

Buy Balrampur Chini with a target of Rs 90-95 and stop loss of Rs 70, says Nitin Murarka of SMC Global Securities on Zee Business. The stock is currently trading at Rs 79, up 2.3% on the BSE.

Buy Core Projects with a target of Rs 120-135 and stop loss of Rs 98, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 105, down 0.47% on the BSE. 

Buy Balrampur Chini with a target of Rs 90 and stop loss of Rs 71, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 76, up 2.3% on the BSE. 

The Asian markets are trading flat. Our market is trading firm. Sensex is trading at 12070, up 118 points and Nifty is at 3662, up 37 points from the previous close. CNX Midcap index is up 1.34% and BSE Smallcap index is up 1.79%. The market breadth is positive with advances at 867 against declines of 319 on the NSE.

Buy Zuari Industries with target of Rs 233, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep a stop loss of Rs 190 based on the day's closing, he adds. The stock is currently trading at Rs 204.70, up 1.3% on the BSE.

Sell Suzlon Energy on the next rally, says Sharmila Joshi of Systematix Shares on NDTV Profit. Fundamentally, there is not much value in this stock from here on, she adds. The stock is currently trading at Rs 77.50, up 4.7% on the BSE. 

Buy Gammon India with targets of Rs 96 and 110, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 78, he adds. The stock is currently trading at Rs 93.75. up 12.1% on the BSE. 

Hold Chambal Fertilisers which has good support at Rs 38-41 and strong resistance at Rs 50-53, says Rahul Mohinder, technical analyst, on CNBC TV18. It will give returns of 30-40% in over six months' time, he adds. The stock is currently trading at Rs 48.10, up 1.8% on the BSE. 

There could be a technical correction in the market in the short term, says Geoff Lewis of JP Morgan Asset Management on CNBC TV18. He feels the current rally is a post-recessionary rebound and believes that the markets are currently in a consolidation phase. According to him, we are in a deep, brutal recession. However, he sees a pick up in GDP by next year.

Both traders and investors buy Educomp Solutions, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. He is quite positive on this stock. It is currently trading at Rs 2267, down 0.1% on the BSE.

Hold Nocil and exit when it reaches Rs 20-21, says PK Agarwal of Bonanza Portfolio on Zee Business. The stock is currently trading at Rs 18, up 4.4% on the BSE.

Hold TCS with target of Rs 800 in 8 months, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep a stop loss of Rs 590, he adds. The stock is currently trading at Rs 630.50, down 0.7% on the BSE.

Hold RIL with target of Rs 2335 in 6-8 months, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep a trailing stop loss of Rs 1695, he adds. The stock is currently trading at Rs 1907.80, up 1.5% on the BSE. 

The market at noon is trading firm. Asian markets are doing well, now in the green. Sensex is trading at 12108, up 156 points from its previous close, and Nifty is at 3672, up 47 points. CNX Midcap index is up 1.4% and BSE Smallcap index is up 1.5%. The market breadth is positive with advances at 848 against declines of 309 on the NSE. 

Book profits in Balrampur Chini, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. The upside in this stock is not more than Rs 8-10 and he does not see it going beyond Rs 84-85. The stock is currently trading at Rs 77.40, up 3% on the BSE. 

Exit Educomp Solutions because it is weak both fundamentally and technically, says PK Agarwal of Bonanza Portfolio on Zee Business. The stock is currently trading at Rs 2266, down 1.3% on the BSE.

Buy Graphite India with target of Rs 55, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 36, he adds. The stock is currently trading at Rs 41.60, up 1.7% on the BSE.

The rally may continue and the Sensex can head towards 14000 if global cues remain strong, says Dipan Mehta, member of the BSE/NSE on CNBC TV18. He feels that the recent F&O participation has not been from retail traders, but from professionals. He likes banking stocks. 

Hold Glenmark Pharma with target of Rs 220, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 160, he adds. The stock is currently trading at Rs 189.10, up 1.4% on the BSE.

Buy Educomp Solutions at Rs 1700-1800 and exit at Rs 2800, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 2265, down 0.2% on the BSE.

Buy Cairn India only with a long-term view, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. It will be a market outperformer in 2-3 years' time, he adds. The stock is currently trading at Rs 209.70, up 4.1% on the BSE. 

An hour into opening, the market continues to see a fair bit of value-buying. Midcap and smallcap stocks are buzzing. Sensex is trading at 12063, up 109 points from its previous close, and Nifty is at 3660, up 35 points. CNX Midcap index is up 1.4% and BSE Smallcap index is up 1.4%. The market breadth is positive with advances at 849 against declines of 279 on the NSE.

Buy Tata Steel with target of Rs 320, says Rahul Mohinder, technical analyst, on CNBC Awaaz. Steel stocks would be profitable to invest in, he adds. The stock is currently trading at Rs 274.90, up 1.6% on the BSE.

Buy Suzlon Energy with target of Rs 85, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading 76.25, up 3% on the BSE. 

Buy Nagarjuna Fertilisers with intra-day target of Rs 27, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 24, he adds. The stock is currently trading at Rs 25.15, up 2.7% on the BSE. 

Sell Bank of Baroda at current levels with targets of Rs 290 and 300, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep stop loss of Rs 330, he adds. The stock is currently trading at Rs 323.20, up 2.4% on the BSE. 

Buy Kingfisher with intra-day target of Rs 41, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 37, he adds. The stock is currently trading at Rs 38.95, up 3% on the BSE. 

The Nifty is likely to go up to 3750 before a correction of 200-300 points, says Amitabh Chakraborty of Religare Securities on CNBC TV18. He adds that the undertone remains strong as global cues continue to be positive. He is overweight on IT, realty, autos and metals. 

Hold McLeod Russel with stop loss of Rs 72, says Ramesh Arora, technical analyst, on Zee Business. It has resistance at Rs 80 crossing which it can go up to Rs 95-97, he adds. The stock is currently trading at Rs 82.75, up 4.4% on the BSE. 

Buy Indiabulls Real Estate with intra-day target of Rs 155, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 134.50, he adds. The stock is currently trading at Rs 144, up 3.4% on the BSE. 

Buy ONGC at Rs 887 with target of Rs 916, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 872, she adds. The stock is currently trading at Rs 895, up 1% on the BSE. 

The market opens on a good note, despite flat Asian cues. The Asian markets, after a good rally, are now trading weak. Earlier, the US markets closed in the green after making gains in the last half an hour of trade. Sensex is trading at 12083, up 130 points from its previous close, and Nifty is at 3661, up 35 points. CNX Midcap index is up 1.5% and BSE Smallcap index is up 1.1%. The market breadth is positive with advances at 451 against declines of 49 on the NSE. 

Buy Spicejet with intra-day target of Rs 17, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 14.25, he adds. The stock is at Rs 14.69, down 2.4% on the BSE. 

For the next 7-8 days the Nifty will move in the range of 3600-3750-3800, says Ashwani Gujral, technical analyst, on CNBC TV18. He feels that a lot of stocks have reached their resistance but instead of moving ahead, are moving sideways. Therefore, he advises booking profits on any rally. 

The market will be in an uptrend today and Nifty may climb 2% higher, says Anil Singhvi, market expert, on CNBC Awaaz. He adds that there will be pressure at the higher levels. 

If the Nifty levels stays above 3600 then the uptrend in the market will continue, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The key level to watch out for is 3590 and if this is broken then book profits with target of 3520, he advises.  The market will see strong supply at the Nifty levels of 3720-3750, says Mitesh Thacker, technical analyst, on CNBC TV18. He advises cutting long exposures around these levels.