Friday, May 8, 2009

Market Voices 08-05-09

Market Voices 08-05-09

After a ranged week the market closed on a quiet note in the steps of mixed global cues but experts warned of a volatile session ahead. They believe the choppiness in the market is going to continue next week because of the election results and so investors should wait and watch before making a move. This week's numbers are: Sensex up 4.1% and Nifty up 4.1%. BSE Midcap index was up 5.1%, BSE Smallcap index up 8.5% over the week. BSE Realty index up 10.5%, BSE Consumer Durables index up 10.5%, BSE Metal index up 16%, BSE IT index up 2.2% and BSE Auto index up 4.5%.  

It was a volatile day for the Indian market because of intense long unwinding towards the latter part of the day. Sensex shut shop at 11876, down 240 points and Nifty at 3620, down 63 points from the previous close. CNX Midcap index was down 0.3% and BSE Smallcap index was up 0.3%. The market breadth was negative with advances at 568 against declines of 654 on the NSE. Top Nifty gainers included Hindustan Unilever, PNB and Cairn India while losers included Wipro, Ambuja Cements and ICICI Bank. Hold Usha Martin with target of Rs 46-47, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep trailing stop loss of Rs 31, he adds. The stock is at Rs 41.60, up 8.9% on the BSE. 

Buy WWIL with target of Rs 17-19, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 14, he adds. The stock is at Rs 15.63, up 10.1% on the BSE.

Buy HDFC Bank on dips of 5-10% with long-term perspective, says Rajesh Jain of Pranav Securities on Zee Business. It is the best among banking stocks, he adds. The stock is at Rs 1143.50, down 2.8% on the BSE.

People should be prepared for a 5-10% correction in the market from the current levels, says Gaurang Shah of Geojit Financials on CNBC Awaaz. He feels that the volatility will continue ahead of election results. Investors should start to put in 20-25% of their capital in this correction in frontline stocks, he adds. 

Buy TVS Motors with target of Rs 44-45, says Anu Jain, technical analyst, on CNBC TV18. The stock is at Rs 42.50, up 22.8% on the BSE.

Hold Shiv-Vani Oil with target of Rs 190, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 135, he adds. The stock is at Rs 117.80, up 6% on the BSE. 

Hold Orbit Corporation with target of Rs 130, says Amarjeet Singh, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 76, he adds. The stock is at Rs 92.35, up 14.8% on the BSE. 

Buy Dish TV with target of Rs 41, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 30, he adds. The stock is at Rs 34.75, up 7.8% on the BSE 

The Indian market closes on a quiet note despite a choppy session. It was a volatile day for our market which opened up flat but by noon saw intense selling pressure. Sensex closed at 11878, down 238 points (provisional) and Nifty at 3620, down 63 points (provisional) from the previous close. CNX Midcap index was down 0.3% and BSE Smallcap index was up 0.3%. The market breadth was negative with advances at 581 against declines of 640 on the NSE.

Hold Prakash Industries with target of Rs 88, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 57, he adds. The stock is currently trading at Rs 75, up 9.7% on the BSE. 

Hold Nifty shorts with target of 3525 and stop loss of 3660, says Vijay Bhambwani, technical analyst, on CNBC TV18, as market closing strategy.  

Buy 3600 Put and hold till elections, says Sudarshan Sukhani, technical analyst, on CNBC TV18, as market closing strategy.End all your long positions in the Nifty, says Rajat Bose, technical analyst, on CNBC Awaaz, as market closing strategy. 

Buy Nalco and SAIL on dips, says Rajesh Jain of Pranav Securities on Zee Business. These are fundamentally strong stocks and will good returns, he adds. 

A few minutes before close, the market is highly volatile and sees an increase in profit booking. Sensex is trading at 11844, down 272 points from its previous close, and Nifty is at 3612, down 72 points. CNX Midcap index is down 0.7% and BSE Smallcap index is down 0.2%. The market breadth is negative with advances at 538 against declines of 681 on the NSE. 

Buy NTPC with target of Rs 200-205, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 187, he adds. The stock is currently trading at Rs 189.90, down 1% on the BSE. 

Hold UCO Bank with target of Rs 35, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 26, he adds. The stock is currently trading at Rs 32.15, up 3.5% on the BSE. 

Hold GSPL with target of Rs 57, says Salil Sharma, technical analyst, on Zee Business. Keep stop loss of Rs 45, he adds. The stock is currently trading at Rs 47.75, down 1.6% on the BSE.

Buy MRPL with targets of Rs 64 and then 72, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 49.50, he adds. The stock is currently trading at Rs 52.55, down 0.5% on the BSE. 

Hold Kalpataru Power with target of Rs 540, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 388, he adds. The stock is currently trading at Rs 449.40, up 6.9% on the BSE. 

Hold Aptech which has resistance at Rs 119-120, says Ashwani Gujral, technical analyst, on CNBC TV18. If it crosses this levle then it can go up to Rs 150-155, he adds. The stock is currently trading at Rs 117.35, up 0.6% on the BSE. 

The Indian market is doing well but it is in the last leg of the rally, says PK Agarwal of Bonanza Portfolio on NDTV Profit. So he advises being very careful when making new investments. He likes Sail and LIC Housing Finance. 

Hold Noida Toll Bridge with target of Rs 40-41, says Salil Sharma, technical analyst, on Zee Business. Keep stop loss of Rs 28, he adds. The stock is currently trading at Rs 29.15, down 3.2% on the BSE. 

The market contines to trade near the day's low. Sensex is trading at 11813, down 304 points from its previous close, and Nifty is at 3596, down 87 points. CNX Midcap index is down 1.2% and BSE Smallcap index is down 0.6%. The market breadth is negative with advances at 435 against declines of 778 on the NSE. 

Hold Allahabad Bank with target of Rs 68-69, says Salil Sharma, technical analyst, on Zee Business. Keep stop loss of Rs 53, he adds. The stock is currently trading at Rs 55, down 4.4% on the BSE. 

Buy Hindalco at current levels with a one-year perspective, SP Tulsian, investment advisor, on CNBC TV18. The stock is currently trading at Rs 66.70, down 5% on the BSE. 

Hold Neyveli Lignite with stop loss of Rs 82, says Salil Sharma, technical analyst, on Zee Business. It has resistance at Rs 99, he adds. The stock is currently trading at Rs 95.25, up 1.2% on the BSE. 

Buy Monnet Ispat with target of Rs 260-265, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 215, down 2.1% on the BSE. 

Hold Phillips Carbon with stop loss of Rs 52, says Salil Sharma, technical analyst, on Zee Business. Exit when it reaches Rs 58-59, he adds. The stock is currently trading at Rs 53.25, up 8.8% on the BSE. 

Investors should wait for a correction in the market before adding to their portfolio, says Deepak Mohoni, technical analyst, on CNBC Awaaz. But this market does provide an opportunity for short-term traders. 

Hold Suzlon Energy with initial target of Rs 85-90, says Hormuz Maloo, technical analyst with Geojit Financial Services, on NDTV Profit. The stock is in an uptrend now, he adds. It is currently trading at Rs 74.40, down 3.7% on the BSE.

The market is now trading near the day's low with the broader market losing steam. The European markets have opened firm and are trading in the green. Sensex is trading at 11928, down 189 points from its previous close, and Nifty is at 3637, down 47 points. CNX Midcap index is down 0.6% and BSE Smallcap index is up 0.08%. The market breadth is negative with advances at 537 against declines of 654 on the NSE. 

Buy Monnet Ispat with a target of Rs 265, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 216, down 1.28% on the BSE. 

Buy Tata Steel with a target of Rs 310 and stop loss of Rs 280, says an expert with Anand Rathi Securities on Zee Business. The stock is currently trading at Rs 288, down 2% on the BSE. 

Buy Uttam Galva with a target of Rs 48, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 37, up 3.8% on the BSE. 

Sell BPCL with a target of Rs 350 and stop loss of Rs 361, reports Bonanza Portfolio, on Zee Business. The stock is currently trading at Rs 359, down 0.5% on the BSE. 

We are still in a bear market rally and the magnitude of the rally does not indicate the start of a bull market rally, says Allen Conway of Schroder Investment Management on CNBC TV18. The rally has been too fast and am not yet fully convinced about an economic recovery, he says. India is attractive from the economic growth perspective and may see growth of over 5%, he adds. But the real recovery in emerging markets earnings will be seen in CY10, he says. 

We are not yet out of the woods on the global economic picture, says Hans Goetti of LGT Bank, on NDTV Profit. The US banks stress test results will weaken sentiments, he feels. 

Traders can go long on dips in the market with Nifty stop loss of 3600, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Buy Cipla on dips with stop loss of Rs 227, he adds. The stock is currently trading at Rs 229, down 0.52% on the BSE.

Buy Balrampur Chini with a target of Rs 110 where one can book profits, says Akshata Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 79, up 2.5% on the BSE. 

Buy Tata Steel with resistance at Rs 295-300 after which it has a target of Rs 325-330, says Sudhanshu Pandey of LKP Shares on NDTV Profit. The stock is currently trading at Rs 294, up 0.04% on the BSE.

Hold NTPC with a target of Rs 210-295 where one can book profits, says Akshata Deshmukh, technical analyst, on CNBC Awaaz. The upside in the stock is limited, so one can exit and switch to Suzlon that will give better returns in the long term, she adds. NTPC is currently trading at Rs 192, up 0.5% on the BSE. 

Buy Sterlite Industries with a target of Rs 560 where one can book profits, says Sudhanshu Pandey of LKP Shares on NDTV Profit. The stock is currently trading at Rs 491, down 53% on the BSE. 

Hold Aban Offshore with a target of Rs 500 where one can book profits and re-enter at lower levels for the long term, says Akshata Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 450, up 5.4% on the BSE.

Buy Hindalco with a target of Rs 90, says Sudhanshu Pandey of LKP Shares on NDTV Profit. The stock is currently trading at Rs 68, down 2.56% on the BSE. 

Buy REC with a target of Rs 150 and stop loss of Rs 114 where one can book profits, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 123, down 2.8% on the BSE. 

Buy SAIL with a target of Rs 135-150, says Sudhanshu Pandey of LKP Shares on NDTV Profit. The stock is currently trading at Rs 126, up 1.05% on the BSE. 

Our market is trading slightly weak. Sensex is trading at 12074, down 42 points and Nifty is at 3681, down 2 points from the previous close. CNX Midcap index is up 0.5% and BSE Smallcap index is up 1.29%. The market breadth is positive with advances at 677 against declines of 406 on the NSE. 

Buy JSW Steel with a target of Rs 440 where one can book profits, says Sudhanshu Pandey of LKP Shares on NDTV Profit. The stock is currently trading at Rs 414, down 3.5% on the BSE. Goldman Sachs ups price target of JSW Steel to Rs 502 from Rs 228, reports CNBC TV18. 

In the telecom space, buy Reliance Communications, Bharti Airtel and Idea Celluar on dips as good long-term bets, says Deven Choksey of KR Choksey, on Zee Business. 

Buy Mercator Lines with a target of Rs 48-60, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 43, up 3.9% on the BSE.

Buy JSW Steel with a target of Rs 475 where one can book profits, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 419, down 2.4% on the BSE. 

Buy ONGC with a target of Rs 920 where one can book profits, says Siddharth Bharme of Angel Broking, on CNBC TV18. The stock is currently trading at Rs 905, up 1.7% on the BSE. 

Buy HDIL with a target of Rs 176 and stop loss of Rs 162, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 172, up 1.5% on the BSE. 

Buy Cairn India with a target of Rs 230 where one can book profits, says Siddharth Bharme of Angel Broking, on CNBC TV18. The stock is currently trading at Rs 219, up 1.4% on the BSE.  


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