Thursday, May 21, 2009

Market Voices 21 May 2009

Buy RIL with a target of Rs 2240-2500 and stop loss of Rs 2100, says Sanjeev Agarwal, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 2125, down 1.8% on the BSE.

Buy GMR Infra with a target of Rs 220 in 12 months and keep a stop loss of Rs 140, says Sandeep Parwal of SPA Capital on CNBC Awaaz. The stock is currently trading at Rs 170, up 6% on the BSE.

The market ended lower from day's highs due to profit booking and the selloff was led by capital goods and banking stocks. Sensex closed at 13732, down 328 points (provisional) and Nifty at 4210, down 59 points (provisional) from the previous close. CNX Midcap index was up 0.44% and BSE Smallcap index was up 3.01%. The market breadth was positive with advances at 941 against declines of 331 on the NSE.

Short Nifty with a target of 4150 and stop loss of 4230, says Devangshu Dutta, market expert, on CNBC TV18, as closing market strategy.

Buy Core Projects with a target of Rs 188 and keep a stop loss of Rs 115, says E Mathew, technical analyst, CNBC TV18, as closing market strategy. Go long once Nifty 4050-4100 level reached, he adds.

Buy ONGC with a target of Rs 1150 and keep a stop loss of Rs 1050, says Ashwani Gujral, technical analyst, CNBC Awaaz, as closing market strategy.

Buy on dips in this market and not at one go in midcap stocks, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Nifty now has resistance at 4450 and till it crosses that decisively the market will continue to consolidate, he adds.

The market continues to see profit booking and is trending lower. Sensex is trading at 13718, down 209 points and Nifty is at 4204, down 65 points from the previous close. CNX Midcap index is up 0.12% and BSE Smallcap index is up 2.06%. The market breadth is positive with advances at 917 against declines of 347 on the NSE.

Hold Dena Bank with a target of Rs 55 where one can book profits, says Akshita Deshmukh, technical analyst, on Zee Business. The stock is currently trading at Rs 49, up 2.6% on the BSE.

Buy GTL Infra with a target of Rs 48-55 and stop loss of Rs 33, says Sanjeev Agarwal, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 37, down 0.5% on the BSE.

Buy Tata Steel with a target of Rs 395 and stop loss of Rs 351, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 358, down 3.6% on the BSE.

Buy Sona Koyo with a target of Rs 15-18 and stop loss of Rs 8, says Sanjeev Agarwal, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 10, up 8% on the BSE.

Buy JP Associates with a target of Rs 250 in 6-8 months, says Sandeep Parwal of SPA Capital on CNBC Awaaz. The stock is currently trading at Rs 172, down 0.5% on the BSE.

Buy Suven Life Sciences with a target of Rs 28 and stop loss of Rs 13, says Sanjeev Agarwal, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 19, up 9.8% on the BSE.

Sell Hero Honda with a target of Rs 1225 and stop loss of Rs 1345, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1259, down 3% on the BSE.

Buy IDFC with a medium-term target of Rs 150, says Sandeep Parwal of SPA Capital on CNBC Awaaz. The stock is currently trading at Rs 118, down 6.4% on the BSE.

Poor global cues putting pressure on our market that is also seeing profit booking. Sensex is trading at 13850, down 209 points and Nifty is at 4247, down 23 points from the previous close. CNX Midcap index is up 0.95% and BSE Smallcap index is up 4.89%. The market breadth is positive with advances at 1055 against declines of 211 on the NSE.

Buy Dena Bank with a target of Rs 80 in 6-8 months and keep a stop loss of Rs 45, says Sandeep Parwal of SPA Capital on CNBC Awaaz. The stock is currently trading at Rs 52, up 8% on the BSE.

Buy RNRL with a target of Rs 81 and stop loss of Rs 70, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 77, up 5% on the BSE.

Buy McLeod Russel with a target of Rs 135 in 6 months, says Rajen Shah of Angel Broking on NDTV Profit. The stock is currently trading at Rs 103, up 8.3% on the BSE.

Buy HCC with a target of Rs 120 where one can book profits, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 101, down 2.4% on the BSE.

Buy IFCI with a target of Rs 49 and stop loss of Rs 39, says Akshita Deshmukh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 43, up 2% on the BSE.

Sensex target for the year end is seen at 15000, says Mahesh Kedia of Macquaire, on CNBC TV18. There will be broad based upgrades but at a slower pace, he feels.

1:00 PM - Hold Bharti Airtel with target of Rs 1000-1077, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep stop loss of Rs 798, he adds. The stock is currently trading at Rs 859, down 0.03% on the BSE. » Send to friends

12:54 PM - Hold Motilal Oswal Financial with stop loss of Rs 150, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It has resistance at Rs 175 crossing which it can go up to Rs 250, he adds. The stock is currently trading at Rs 169.90, up 0.7% on the BSE. » Send to friends

12:47 PM - Buy Essar Oil with target of Rs 240, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep stop loss of Rs 160 on day-end closing basis, he adds. The stock is currently trading at Rs 184.35, up 4.8% on the BSE.

Hold Reliance Communications with medium-term target of Rs 375-385, says Vijay Bhambwani, technical analyst, on CNBC TV18. The stock is currently trading at Rs 325.50, up 5.6% on the BSE.

Buy Deccan Chronicle with target of Rs 96, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep stop loss of Rs 65 on day-end closing basis, he adds. The stock is currently trading at Rs 77.05, up 6.5% on the BSE.

Buy NIIT Tech after a correction in the market, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. It will give good returns, he adds. The stock is currently trading at Rs 99.70, up 7.6% on the BSE.

Hold L&T with target of Rs 1620 in the next few weeks, says Vijay Bhambwani, technical analyst, on CNBC TV18. Keep stop loss of Rs 1055, he adds. The stock is currently trading at Rs 1306.60, down 3.9% on the BSE.

Hold HCC with targets of Rs 112, 135 and then 150, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 65-70, he adds. The stock is currently trading at Rs 102.20, down 1.9% on the BSE.

At noon, the market continues to trade quiet while midcap and smallcap stocks outperform. Sensex is trading at 13981, down 79 points from its previous close, and Nifty is at 4292, up 22 points. CNX Midcap index is up 2.6% and BSE Smallcap index is up 6%. The market breadth is positive with advances at 1139 against declines of 109 on the NSE.

Buy Parsvnath Developers on dips with targets of Rs 105 and then 132, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep strict stop loss of Rs 56, he adds. The stock is currently trading at Rs 82.65, up 10% on the BSE.

WPI for all commodities is up 0.2% at 232 (WoW), reports NDTV Profit. Primary Articles Index is up 0.5% (WoW), Manufactured Products WPI up 0.1% (WoW) and Fuel Group WPI remains unchanged, it adds.

The inflation figure for the week ended May 9 has been announced at 0.61% versus the earlier figure of 0.48%, reports NDTV Profit.

Hold GVK Power with target of Rs 50, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 32, he adds. The stock is currently trading at Rs 41.60, up 2% on the BSE.

Hold Union Bank of India with short-term stop loss of Rs 197, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 240 crossing which it can go up to Rs 275, he adds. The stock is currently trading at Rs 209.70, down 0.7% on the BSE.

The real estate sector is weak at the moment, says Hitesh Agarwal of Angel Broking on CNBC Awaaz. He does not recommend buying into this sector at current levels.

Hold Central Bank of India with target of Rs 81 and then 100, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 75, up 2% on the BSE.

Wait for a 10% dip and then buy DLF and HDIL, says Rahul Mohinder, technical analyst, on CNBC Awaaz.

Buy Unitech on dips with target of Rs 110-120 in one year, says Nitin Murarka of SMC Global on Zee Business. Keep short-term stop loss of Rs 67 and long-term stop loss of Rs 60, he adds. The stock is currently trading at Rs 75.45, up 2.9% on the BSE.

Investors can buy Dewan Housing and Dena Bank at current levels, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz.

Hold GNFC with target of Rs 105, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 89.60, up 4.2% on the BSE.

An hour into opening, the market is trading quiet but midcap and smallcap stocks are buzzing. The Asian markets continue to trade weak. Sensex is trading at 13887, down 173 points from its previous close, and Nifty is at 4250, down 19 points. CNX Midcap index is up 1.8% and BSE Smallcap index is up 4.6%. The market breadth is positive with advances at 1043 against declines of 157 on the NSE.

Hold Punj Lloyd with target of Rs 215 in 8-10 days, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 170, he adds. Long-term investors can keep target of Rs 260 in 3-6 months, he says. The stock is currently trading at Rs 185.40, up 1.8% on the BSE.

Hold Tata Steel with medium-term target of Rs 395, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 375.20, up 0.9% on the BSE. » Send to friends

10:41 AM - Profit booking in largecaps coupled with fresh shorts was seen yesterday, says Siddharth Bhamre of Angel Broking on CNBC TV18. Midcap euphoria seems to have extended itself and one needs to be very selective now, he adds. He sees support for the Nifty around 4200 and would look for largecaps which have seen correction.

Buy Sobha Developers with intra-day target of Rs 200, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 165, he adds. The stock is currently trading at Rs 186.85, up 9.6% on the BSE.

Hold IFCI with stop loss of Rs 37.50, says Nitin Murarka of SMC Global on Zee Business. Book 50% profits at Rs 48 and hold the rest with trailing stop loss, he adds. The stock is currently trading at Rs 43.95, up 3.2% on the BSE.

Sell ICICI Bank with target of Rs 667-678, says Rajat Bose, technical analyst, on CNBC TV18. Keep stop loss above Rs 735, he adds. The stock is currently trading at Rs 690, down 2.7% on the BSE.

Support for the Nifty will be between 4219-4253, says Rajat Bose, technical analyst, on CNBC TV18. If this is broken then he sees the next support between 4165-4170.

Buy DCB with intra-day target of Rs 42, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 36, he adds. The stock is currently trading at Rs 40.20, up 5.6% on the BSE.

Buy Godavri Power with intra-day target of Rs 105, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 90, he adds. The stock is currently trading at Rs 93.85, up 11.4% on the BSE.

The market opens on a flat note, in the steps of mixed global cues. The Asian markets are trading weak. Sensex is trading at 13962, down 98 points from its previous close, and Nifty is at 4252, down 18 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 2.7%. The market breadth is positive with advances at 588 against declines of 77 on the NSE.

Sell Aban Offshore at Rs 874 with target of Rs 845, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 895, she adds. The stock is at Rs 874.65, down 3.6% on the BSE.

Buy Indiabulls Securities with intra-day target of Rs 48, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 42, he adds. The stock is at Rs 43.95, up 19.9% on the BSE.

Buy JP Hydro at Rs 50 with target of Rs 53, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 47, she adds. The stock is at Rs 49.75, up 14% on the BSE.

Buy IDBI at Rs 89 with target of Rs 93, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 87, she adds. The stock is at Rs 88.80, up 5.5% on the BSE.

The market will be under pressure due to mixed global cues, says Anil Singhvi, market expert, on CNBC Awaaz. He believes that the second half of the day will be very crucial for the market.

The level of 4300 will provide near-term resistance for most traders today, says Rahul Mohinder, technical analyst, on CNBC Awaaz. He does not expect a straight downward movement for the market and says the lower levels will provide support. He believes that midcap and smallcap stocks will outperform the market. Wait for a correction and then enter the market, he advises.