Monday, August 3, 2009

BSE / NSE Market voices 20 July 2009

Market Voices 20 July 2009

Aided by strong global markets and some splendid results from India Inc, equities closed on a buoyant note on the major Indian bourses today. Calling the shots right from the stroke of the opening bell this morning, the bulls guided the Sensex to its best close since 12 June 2009.

The Sensex ended the day at 15,166.91 (provisional) with a massive gain of 421.99 points or 2.86%. The Nifty closed at 4496.45, up 121.50 points or 2.78%. While the Sensex hit a high of 15,209.36, the Nifty moved on to 4510.30 today.

IT stocks, led by heavyweights TCS (15%), Wipro (7%) and Infosys (5.6%) had a bright session today. ICICI Bank, DLF, RIL, Hindalco, JP Associates, ACC, Tata Motors, Sterilte, SBI, L&T, Bharti Airtel, Grasim, HDFC Bank, Maruti and M&M also ended on a high note. Unitech, HCL Tech, Cairn India, PNB, Axis Bank, ABB, Siemens, Cipla and Ranbaxy finished with sharp gains.
ITC, RComm, HDFC and Reliance Infra closed weak today. BPCL, Ambuja Cements, Suzlon and RPower also ended weak.
Several midcap and smallcap stocks rallied higher. The market breadth was strong today.

Keep stop loss in IndusInd Bank at Rs 75, says Deepak Mohoni, Technical Analyst, on CNBC-TV18

TCS has target of Rs 525-540, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18

GTL Infrastructure has posted strong results for the quarter ended 30 June 2009. The company has posted a net profit of Rs 186.955 million for the quarter ended June 30, 2009 as compared to net loss of Rs 31.929 million it had recorded for the quarter ended June 30, 2008. Total income has increased from Rs 558.331 million for the quarter ended June 30, 2008 to Rs 855.039 million for the quarter ended June 30, 2009. The stock is up by over 4% at Rs 35.40. One can hold the stock with a stop loss near Rs 25.

Cairn India was among the major gainers on the Nifty. It touched an intraday high of Rs 244.90 and an intraday low of Rs 235. The share was quoting at Rs 244.30, up Rs 12.20, or 5.26%. it was trading with volumes of 2,282,356 shares. On Friday the share closed up 1.84% or Rs 4.20 at Rs 232.10.

Voltas, currently traded at Rs 130, can be picked up for short term. The stock can move on to Rs 145 -150 where one can book profits and exit the counter. The stock has an immediate support at Rs 120 levels. A strong breach could result in a fall to Rs 105 or to even lower levels.

DLF touched an intraday high of Rs 347.80 and an intraday low of Rs 333.10. At 1:56 pm, the share was quoting at Rs 343.80, up Rs 10.95, or 3.29%. it was trading with volumes of 2,754,059 shares. Yesterday the share closed up 5.02% or Rs 15.90 at Rs 332.85.

Indiabulls Financial Services touched an intraday high of Rs 187.25 and an intraday low of Rs 181. At 2:09 pm, the share was quoting at Rs 183, up Rs 2.10, or 1.16%. The company has launched upto $200 million QIP issue, quoting NewsWire18, reports CNBC-TV18. It was trading with volumes of 308,775 shares. On Friday the share closed up 0.47% or Rs 0.85 at Rs 180.90.

The mood on the European bourses is bullish as well. US index futures have surged higher, pointo to a positive start on Wall Street.

Strong results from top notch firms including TCS and expectations that government will push forward reforms keep the Indian markets high up in the bull orbit today.

There will be some more rallies in the very short run. However, it is advisable to stay stock specific for now.

Reliance Petroleum touched an intraday high of Rs 126.25 and an intraday low of Rs 122. At 1:41 pm, the share was quoting at Rs 125.80, up Rs 5.05, or 4.18%. it was trading with volumes of 975,152 shares. Yesterday the share closed up 0.29% or Rs 0.35 at Rs 120.75.

RComm (Rs 271) can rise to Rs 278 -280 this afternoon. Day traders with a reasonably good appetite for risk can try this stock now with a stop loss near Rs 265.

IDFC has posted a net profit of Rs 243.49 crore for the quarter ended June 30, 2009 as compared to Rs 204.73 crore for the quarter ended June 30, 2008. The stock is up with a modest gain at Rs 141 now. One holding the stock with a long term view can stay invested.

Consider buying cement stocks Ambuja Cements, India Cements and Ultratech Cement at sharp declines. Though stocks are likely to remain a bit sluggish for about a couple of weeks, a modest to sharp rise looks likely over the next 3 - 6 months.

Suzlon Energy (Rs 95) can give fairly good returns over a short run. One can exit the counter at Rs 120 -125 and take a call on buying the stock again at declines. On the downside, the stock has support near Rs 80 and a stop loss can be placed there.

JSW Steel has posted a net profit after tax of Rs 3400.20 million for the quarter ended June 30, 2009 as compared to Rs 2193.50 million for the quarter ended June 30, 2008. The stock is up 1.2% at Rs 607.50. Day traders with a good appetite for risk can buy the stock. It could rise to Rs 620 - 625. A stop loss can be placed near Rs 595.

Nagarjuna Construction Co. touched an intraday high of Rs 139.95 and an intraday low of Rs 133. At 12:10 pm, the share was quoting at Rs 138.20, up Rs 4.05, or 3.02%. The company has bagged orders worth Rs 776 crore, reports CNBC-TV18. It was trading with volumes of 257,547 shares. On Friday the share closed up 7.15% or Rs 8.95 at Rs 134.15.

Satyam Computer Services above Rs 90-92, says Mitesh Thacker of miteshthacker.com on CNBC-TV18

LIC Housing Finance (Rs 639) can move up further in the near term. The stock could face some resistance near Rs 685 but a strong breach there is likely to lift the stock up by another Rs 20 - 30. Those looking at long term can consider buying the stock at declines.

Indiabulls Real Estate can test Rs 280, says Mitesh Thacker of miteshthacker.com on CNBC-TV18

Zee Entertainment Enterprises touched an intraday high of Rs 199.70 and an intraday low of Rs 186.85. At 11:33 am, the share was quoting at Rs 187, down Rs 7.25, or 3.73%. It was trading with volumes of 263,879 shares. On Friday the share closed up 7.44% or Rs 13.45 at Rs 194.25.
IT majors TCS, Wipro and Infosys can move up further in the near to medium term. However, a few corrective spells are not ruled out. Short term traders can book some profits at rallies and get back into the counter at declines.

Technology stocks could move up, says Vibhav Kapoor of IL&FS Investmart, on CNBC-TV18

Aban Offshore can touch Rs 950, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18

Sell Pantaloon Retail below Rs 285: ICICIdirect.com

The Nifty (4441) will take some support around 4410 today. A breach of that level could result in a fall to 4375 or even lower. On the upmoe, a rise to 4475 - 4485 is possible if it makes a decisive breakout at 4450.

Coromandel Fertilisers touched an intraday high of Rs 191.50 and an intraday low of Rs 181.50. At 10:54 am, the share was quoting at Rs 191, up Rs 8, or 4.37%. It was trading with volumes of 11,616 shares. On Friday the share closed up 2.49% or Rs 4.45 at Rs 183.

Sell Divi's Laboratories below Rs 1065: ICICIdirect.com

Buy Hindalco above 81.70 for the targets of 84 / 86 / higher/ with a stop-loss of Rs 81

Nagarjuna Construction Company's order book has grown fatter with the company bagging three new orders aggregating Rs 776 crores. The orders are from the Employess State Insurance Coporation, New Delhi (Rs 600 crores), Mezgon Dock Limited (Rs 136 crores) and National Institute of Technology, Assam (Rs 40 crores). At Rs 136.50, the stock is up by around 1.75% over its previous closing price. One looking for fresh exposure to the stock can try the stock at Rs 115 -120 levels.

Bank of India: Buy above Rs 341 for the target of 346 / 348 / higher/ with a target of Rs 338 - ICICI Direct

Infosys Technologies touched a 52-week high of Rs 1,951.80. At 10:39 am, the share was quoting at Rs 1,948, up Rs 81, or 4.34%. It was trading with volumes of 113,382 shares. Yesterday the share closed up 4.01% or Rs 71.90 at Rs 1,867.

Adlabs Films can test Rs 400-405, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18

Reliance Industries touched an intraday high of Rs 2,020 and an intraday low of Rs 1,946. At 10:18 am, the share was quoting at Rs 1,998.30, up Rs 64.90, or 3.36%. It was trading with volumes of 224,428 shares. On Friday the share closed down 0.05% or Rs 0.90 at Rs 1,933.40.

Petronet LNG has posted a net profit of Rs 1033.120 million for the quarter ended June 30, 2009 as compared to Rs 1056.467 million for the quarter ended June 30, 2008. It was trading with volumes of 156,862 shares. On Friday the share closed up 8.44% or Rs 89.50 at Rs 1,150. The Petronet LNG stock plunged to Rs 66 after an early surge to Rs 77 and is currently down with a sharp 5.7% loss at Rs 68.25. One holding the stock with a long term plan can stay invested. Fresh buying can be considered at sharp dips.

Reliance Infrastructure was the top loser on the Sensex. It touched an intraday high of Rs 1,184.40 and an intraday low of Rs 1,105.15. The share was quoting at Rs 1,105.80, down Rs 44.2, or 3.84%

Gujarat NRE Coke's net profit has declined sharply in the April - June 2009 quarter. The Company has posted a net profit of Rs 36.40 million for the quarter ended June 30, 2009 as compared to Rs 944.00 million for the quarter ended June 30, 2008.

Total income has decreased from Rs 3821.20 million for the quarter ended June 30, 2008 to Rs 3346.50 million for the quarter ended June 30, 2009. The stock, however, is trading in the positive territory at Rs 46.40, up 1.75% over its previous close.

Petronet LNG touched an intraday high of Rs 77 and an intraday low of Rs 66. At 10:05 am, the share was quoting at Rs 67, down Rs 5.4, or 7.46%. It was trading with volumes of 287,932 shares. On Friday the share closed up 10.70% or Rs 7 at Rs 72.40.

The market opened on a buoyant note this morning on strong global cues. The Sensex sped past the magical 15,000 mark in a flash after opening with a big gap of around 110 points at 14,854. The barometer is up with a strong gain of 230 points or 1.55% at 14,975 at present. The Nifty has gained 66 points or 1.52% at 4440.95.