Tuesday, May 19, 2009

Market Voices 19th May 2009

Market Voices 19th May 2009

It was a day of high intra-day volatility and the market ended flat today. After yesterday's lack of trade, money poured into the market as it clocked the highest turnover of Rs 1.57 lakh crore. The previous highest turnover was clocked on October 18, 2007. Sensex shut shop at 14302, up 17 points and Nifty at 4318, down 4 points from the previous close. CNX Midcap index was up 2.21% and BSE Smallcap index was up 2.52%. The market breadth was positive with advances at 934 against declines of 332 on the NSE. Top Nifty gainers included Reliance Capital, DLF and Nalco while losers were Sun Pharma, TCS and Cipla. 

The market is looking overstretched and one can expect a correction soon, says E Mathew, technical analyst, on CNBC TV18. Initiate fresh longs around Nifty levels of 4050-4100, he adds. Buy Maharashtra Seamless with a medium-term target of Rs 326, he says. The stock is currently trading at Rs 226, down 3.7% on the BSE.  

Hold IVRCL Infra with a target of Rs 300-325 where one can book profits, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 254, up 21% on the BSE. 

Hold Tata Steel with a trailing stop loss of Rs 325-315 and book profits if it goes below that, says Deepak Mohoni, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 331, up 14%on the BSE.  

Hold SREI Infrastructure it has resistance at Rs 79-89, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 68, up 36%% on the BSE. 

Hold Unitech with a target of Rs 82 where one can book profits, says Ashish Chaturvedi of Anand Rathi Securities on Zee Business. The stock is currently trading at Rs 73, up 14% on the BSE.  

Hold Aban Offshore it has resistance at Rs 1000-1100 where one can book profits, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 929, up 23% on the BSE.  

Buy Punj Lloyd with a target of Rs 200 in 12 months, says Ashish Kukreja, market expert, on CNBC Awaaz. The stock is currently trading at Rs 165, up 1.5% on the BSE. 

In the auto sector, buy Maruti Suzuki, Hero Honda and Bajaj Auto for the long term, says a market expert on Zee Business. 

This is now a buy on dips market which is forming a new top, says Dinesh Thakkar of Angel Broking on CNBC Awaaz. With the new government at the helm, the market could give an annual return of over 17-18%, he adds. 

The market continues to trade firm. Sensex is trading at 14638, up 354 points and Nifty is at 4416, up 95 points from the previous close. CNX Midcap index is up 3.08% and BSE Smallcap index is up 2.90%. The market breadth is positive with advances at 950 against declines of 299 on the NSE.  

Hold Cairn India with stop loss below Rs 195, says Neera Jain, technical analyst, on NDTV Profit. It has resistance at Rs 230 at which level book partial profits, she adds. The stock is currently trading at Rs 218, up 0.65% on the BSE. 

We have an order book of Rs 11,000 crore and hope to double it in the next 12 months, says G Venkatesh Babu of Lanco Infra, on NDTV Profit. The stock is currently trading at Rs 329, up 14.9% on the BSE.  

Buy Syndicate Bank and Central Bank for the long term, says Dilip Bhatt of Prabhudas Liladhar, on CNBC Awaaz. He is underweight on the IT sector going forward. 

Buy Tanla Solutions with short-term target of Rs 80-85, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 49, he adds. The stock is currently trading at Rs 56, down 2.2% on the BSE. 

Buy DLF and GMR Infra with three months' view, says Paras Bothra of Ashika Stock Broking on NDTV Profit.  

The Asian markets saw a positive session while European markets have opened quiet. After much volatility our market has settled and is looking good. Sensex is trading at 14899, up 615 points and Nifty is at 4495, up 172 points from the previous close. CNX Midcap index is up 4.24% and BSE Smallcap index is up 3.78%. The market breadth is positive with advances at 966 against declines of 282 on the NSE.  

Buy Tata Steel at Rs 290-295, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 270, he adds. The stock is currently trading at Rs 347, up 9.8% on the BSE. 

Hold SBI with short-term target of Rs 1825, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1600, he adds. The stock is currently trading at Rs 1795, up 12.9% on the BSE.  

Buy on dips SBI, IDBI, PNB, BHEL, Reliance Communications and Bharti Airtel, says Deven Choksey of KR Choksey on Zee Business. But buy in staggered fashion and if the market corrects, then add more, he adds. 

Book profits in L&T and re-enter at lower levels, says Paras Bothra of Ashika Stock Broking on NDTV Profit. It is difficult to say to where the momentum will stretch, he adds. The stock is currently trading at Rs 1430, up 11.7% on the BSE.  

Volatility continues in the market with Sensex trading at 14580, up 295 points from its previous close, and Nifty at 4373, up 51 points.  

Buy Monnet Ispat at Rs 218 with stop loss of Rs 180, says Nitin Murarka of SMC Global on Zee Business. Keep short-term target of Rs 260 and medium-term target of Rs 300, he adds. The stock is currently trading at Rs 197.90 on the BSE.  

Buy GVK Power with stop loss of Rs 28, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has resistance at Rs 44 crossing which it can go up to Rs 52, he adds. The stock is currently trading at Rs 40.90, up 13.6% on the BSE.  

Buy Infosys, TCS and Wipro, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. He is positive on IT stocks.  

Buy Exide Industries on dips at Rs 52-55 with stop loss of Rs 48, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has resistance at Rs 65 crossing which it can go up to Rs 75, he adds. The stock is currently trading at Rs 60.50, up 8.1% on the BSE.  

This is not a 'buy and hold' market, says Sudhanshu Pandey, technical analyst, on NDTV Profit. He would be cautious about buying at this level and advises those who want to invest to do so below 4000 mark.  

Buy Hotel Leela at Rs 25 with stop loss of Rs 21, says Nitin Murarka of SMC Global on Zee Business. Keep short-term target of Rs 32 and medium-term target of Rs 40, he adds. The stock is currently trading at Rs 24.35, down 3.2% on the BSE. 

Hold JP Associates with stop loss below Rs 130, says Neera Jain, technical analyst, on NDTV Profit. It has resistance at Rs 170 at which level book partial profits, she adds. The stock is currently trading at Rs 169.10, down 0.5% on the BSE. 

The market at noon is trading volatile and the indices are witnessing wild swings. Sensex is trading at 14578, up 294 points from its previous close, and Nifty is at 4369, up 46 points. CNX Midcap index is up 3.1% and BSE Smallcap index is up 2.1%. The market breadth is positive with advances at 906 against declines of 327 on the NSE. 

In the real estate space, buy HDIL, Omaxe and Parsvnath for the long term, says Ashwani Gujral, technical analyst, on CNBC Awaaz. If the new government comes out with positive policies the real estate sector could be an outperformer and these stocks could post 50-60% growth, he adds.  

Buy Great Offshore at Rs 295 with stop loss of Rs 260, says Nitin Murarka of SMC Global on Zee Business. Keep short-term target of Rs 350 and medium-term target of Rs 400, he adds. The stock is currently trading at Rs 277, down 2.8% on the BSE. 

Hold JM Financial with trailing stop loss of Rs 28, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has resistance at Rs 35-37 crossing which it can go up to Rs 45, he adds. The stock is currently trading at Rs 32.25, up 0.8% on the BSE. 

Sensex is trading strong now at 14566, up 282 points from its previous close, and Nifty is at 4377, up 54 points. The market breadth is positive with advances at 864 against declines of 355 on the NSE. 

Buy Edelweiss at Rs 380 with stop loss of Rs 330, says Nitin Murarka of SMC Global on Zee Business. Keep short-term target of Rs 460 and medium-term target of Rs 600, he adds. The stock is currently trading at Rs 402, up 2.8% on the BSE.  

Buy IFCI with target of Rs 50, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 28, he adds. The stock is currently trading at Rs 35.75, up 5.5% on the BSE. 

Buy UCO Bank, Indian Bank, IVRCL Infra and Power Grid on dips for good long term gains, says Ashwani Gujral, technical analyst, on CNBC Awaaz.  

Buy NDTV at Rs 122 with stop loss of Rs 110, says Nitin Murarka of SMC Global on Zee Business. Keep short-term target of Rs 150 and medium-term target of Rs 180, he adds. The stock is currently trading at Rs 120.70, down 3.4% on the BSE.  

I expect the market to correct further and the political overhang is now over, says SV Prasad of Schroders on NDTV Profit. He adds that global issues have not abated and this will keep the markets under pressure. He believes that the Indian market is still dependent on FIIs and that global cues are to impact inflows to India. 

Buy Firstsource Solutions with targets of Rs 20 and then 25, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 16.50, he adds. The stock is currently trading at Rs 17.30, down 7% on the BSE.  

An hour into opening, some calm appears to have returned to the market with traders playing it safe. Sensex is trading at 14241, down 41 points from its previous close, and Nifty is at 4274, down 47 points. CNX Midcap index is up 1.3% and BSE Smallcap index is up 1.1%. The market breadth is positive with advances at 806 against declines of 390 on the NSE.  

Buy Ispat Industries with intra-day target of Rs 19, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 15.50, he adds. The stock is currently trading at Rs 16.84, down 0.9% on the BSE.  

Buy Tata Steel on dips with target of Rs 390, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 290, she adds. The stock is currently trading at Rs 321.80, up 1.8% on the BSE. 

It is necessary for the market to consolidate now, says Deven Choksey of KR Choksey on Zee Business. He expects stability to return soon and advises buying on dips. 

Hold DLF with a target of Rs 375 where one can book profits, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 336, up 3.3% on the BSE. 

Buy Strides Arcolab with intra-day target of Rs 125, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 105, he adds. The stock is currently trading at Rs 117, down 6.4% on the BSE. 

Buy United Spirits with a target of Rs 900 and stop loss of Rs 690, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 740, down 1.3% on the BSE.  

Buy Sintex Industries with intra-day target of Rs 205, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 180, he adds. The stock is currently trading at Rs 193.95, up 4.8% on the BSE. 

The indices are in the green again with Sensex trading at 14438, up 154 points from its previous close, and Nifty at 4340, up 16 points. The market breadth is positive with advances at 675 against declines of 432 on the NSE. 

Hold RIL with a target of Rs 2500 where one can book profits, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 2280.80, down 2.9% on the BSE. 

Buy Jain Irrigation with intra-day target of Rs 565, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 532, he adds. The stock is currently trading at Rs 550, up 4.7% on the BSE. 

Buy Suzlon Energy at Rs 90 for intra-day trading only with target of Rs 100, says Simi Bhaumik, technical analyst, on Zee Business. This is not the time for investment into this stock, she adds. The stock is currently trading at Rs 92.45, down 1.6% on the BSE. 

Buy Alok Industries with intra-day target of Rs 18, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 14.50, he adds. The stock is currently trading at Rs 14.91, down 3.5% on the BSE.  

The market opens gap up and quickly slips into the negative as there is profit booking at higher levels. Sensex is trading at 13993, down 291 points and Nifty is at 4227, down 95 points from the previous close. CNX Midcap index is down 3.90% and BSE Smallcap index is down 3.10%.  

If one sees a major policy thrust from the new government there could be a push in the infrastructure sector, says Sanjeev Prasad of Kotak Securities, on CNBC TV18. Besides looking at largecaps like L&T, BHEL, the good picks from midcaps would be Punj Lloyd, IVRCL, Nagarjuna Constructions, JP Associates and Lanco Infra, he adds.  

We will see a strong opening today and then there will be profit booking, says Sharmila Joshi of Systematix Shares on Zee Business. But she advises doing partial profit booking only. She expects the market to remain on a high in the run-up to the budget.