The markets had its best session in several months on Monday.
The bulls went on a rampage picking up blue chip stocks thanks to the strong industrial production numbers that July threw up and on the back of encouraging economic data from the US and China.
Incidentally, all the reports, the data on industrial production in India, the US wholesale inventories data and the data on Chinese trade surplus, came out over the weekend, setting up a solid platform for the bulls even before the opening bell rang at the Indian bourses today.
Not to let go the opportunity, the bulls made a beeline at the frontline counters - with the banking sector attracting the most attention - and kept lapping up stocks till the very end.
The resultant surge in values of stocks was so sharp that the benchmark indices Sensex and Nifty moved past 19,000 and 5700 levels and then way beyond, to record their best levels since January 18 2008.
While the Sensex, which zoomed to 19,243.44, ended the day with a gain of 408.67 points or 2.17% at 19,208.33, the Nifty closed at 5760, slightly off the day's high of 5770.60, with a gain of 119.95 points or 2.13%.
Mirroring strong gains posted by key bank stocks, the Bankex jumped by over 3.6%.
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3:24 PM: Buy BHEL with a 10-day target of Rs 2550 and stop loss of Rs 2450, says Parsh Zaveri of Zaveri Investments on CNBC Awaaz Send to friends
3:20 PM: Buy Infosys, Wipro and TCS on dips.
These stocks may remain a bit slippery in the near term, but their long term prospects remain bright. HCL Tech and Mphasis can also be picked up at sharp declines. Send to friends
3:16 PM: Buy Federal Bank with a target of Rs 425 and stop loss of Rs 360, says Kunal Saraogi, technical analyst, on Zee Business Send to friends
3:12 PM: Steel Strips Wheels gains 3%
3:08 PM: Buy YES Bank with a target of Rs 344 and stop loss of Rs 322, says Krunal Dayma, technical analyst, on Zee Business. Send to friends
3:04 PM: Vishal Retail gains 8.5%
3:00 PM: Buy Garware Polyster with a target of Rs 250, says DD Sharma of Anand Rathi Securities on NDTV Profit Send to friends
2:56 PM: Hold HDFC (Rs 664) and pick up more of it at declines.
The stock is a good one for medium to long term. A fairly good upmove is likely in the near term as well.
2:52 PM: Buy LIC Housing Finance with a 2-3 week target of Rs 1300 and stop loss of Rs 1140, says Sudhanshu Pandey, technical analyst, on CNBC TV18
2:48 PM: Hold Crompton Greaves (Rs 312) and buy more in small quantities at declines for medium to long term. One with a short term view can book some profits at rallies and buy again later on dips.
2:44 PM: Buy OBC with a target of Rs 480 and stop loss of Rs 447, says Ashwani Gujral, technical analyst, on CNBC TV18.
2:40 PM: Bank stocks are likely to see further upside in the near term.
Still, investors with a low appetite for risk would do well to stay stock specific and have strict stop loss triggers in place.
2:36 PM: Mahindra & Mahindra Financial Services gains 12%
2:32 PM: Buy Tata Chemicals with a 3-4 day target of Rs 453 and stop loss of Rs 418, says Manoj Sachdeva of Hem Securities on CNBC Awaaz.
2:28 PM: Buy Hero Honda with a target of Rs 1765 and stop loss of Rs 1700, says Salil Sharma, technical analyst, on NDTV Profit
2:24 PM: Reliance Industries gains 2%
2:20 PM: Buy Ahmednagar Forgings with a 4-5 month target of Rs 180 and stop loss of Rs 110, says Nitin Murarka of SMC Global on Zee Business. Send to friends
2:16 PM: State Bank of India gains 4.65%
2:08 PM: Buy Ahmednagar Forgings with a 4-5 month target of Rs 180 and stop loss of Rs 110, says Nitin Murarka of SMC Global on Zee Business. Send to friends
2:04 PM: Housing finance stock HDFC is up 4.8% at Rs 660.65
2:00 PM: Hold DLF with targets of Rs 370 and 400 and stop loss of Rs 300, says Hemant Kale of Maia Financial Services on NDTV Profit.
1:56 PM: Reliance Communications (down 0.7%) is down in negative territory at present.
1:52 PM: Hold Ashok Leyland (Rs 73) and buy more in small quantities on dips for long term. Keep a stop loss near Rs 62.
1:48 PM: Sell Cipla with a target of Rs 296 and stop loss of Rs 312, says Krunal Dayma, technical analyst, on Zee Business.
1:44 PM: One holding Bank of India (Rs 501) with a short term view can book some profits at current levels or rallies. Fresh buying for long term can be considered at sharp declines.
1:40 PM: Buy Whirlpool on dips with a target of Rs 350-360 and stop loss of Rs 290, says Ashish Chaturmotha of Anand Rathi Securities on NDTV Profit.
1:36 PM: Buy Shree Renuka Sugars with a 4-6 month target of Rs 90-100, says VK Sharma of HDFC Securities on CNBC Awaaz
1:32 PM: Bank stocks are turning in a sterling peformance today.
1:28 PM: Buy ICICI Bank with a 5-6 day target of Rs 1140 and stop loss of Rs 1015, says Mitesh Thacker, technical analyst, on CNBC Awaaz.
1:24 PM: Hold Everest Kanto Cylinder (cmp Rs 116) with a stop loss near Rs 106. The stock could rise to Rs 125 and a breakout there could result in a surge to Rs 137 or even higher.
1:20 PM: Hold Supreme Industries with a target of Rs 715 and trailing stop loss of Rs 680, says Nikita Surekha, technical analyst, on Zee Business.
1:16 PM: Hold Exide Industries (Rs 161) and buy more in small quantities on dips for medium to long term. One looking at short term can exit at rallies and re-enter the counter at sharp declines.
1:12 PM: Buy Adani Enterprises with a target of Rs 735 and stop loss of Rs 675, says Kunal Saraogi, technical analyst, on Zee Business
1:08 PM: Buy Nifty Futures for the target prices of Rs 5650 / 5680 / higher with a stop loss of Rs 5426: ICICIDirect
1:04 PM: Buy Infosys with a 5-7 day target of Rs 2970 and stop loss of Rs 2835, says Imtiaz Qureishi, technical analyst, on CNBC Awaaz
12:56 PM: Buy Praj Industries (Rs 77) for medium term. The stock could rise to Rs 94 - 98.
12:48 PM: Buy SBI with a target of Rs 3400 and stop loss of Rs 3000, says Prakash Gaba, technical analyst, on CNBC Awaaz.
12:44 PM: Buy IDFC for the target prices of Rs 192.80/194/Higher with a stop loss of Rs 188.90: ICICIDirect
12:40 PM: Buy Maruti Suzuki with a target of Rs 1335 and stop loss of Rs 1304, says Salil Sharma, technical analyst, on CNBC TV18
12:36 PM: Buy HCL Tech for the target prices of Rs 419/421.50/Higher with a stop loss of Rs 409.80: ICICIDirect
12:32 PM: Buy Videocon Industries with a target of Rs 275 and stop loss of Rs 261, says Sudarshan Sukhani, technical analyst, on CNBC TV18 Send to friends
12:28 PM: Sell Cairn with a stop loss of Rs 330.20: ICICIDirect
12:24 PM: Sell ITC with a target of Rs 158 and stop loss of Rs 168, says Nikita Surekha, technical analyst, on Zee Business.
12:20 PM: Sell Sesa Goa with a stop loss of Rs 315.80: ICICIDirect
12:16 PM: Hold Taj GVK with a target of Rs 220 on breaking above Rs 170 and keep stop loss of Rs 155, says Nitin Murarka of SMC Global on Zee Business
12:12 PM: Buy Central Bank of India (Rs 193) for some solid short term gains. One looking at long term can pick up Vijaya Bank, UCO Bank and Syndicate Bank at declines.
12:08 PM: Hold Apollo Tyres with targets of Rs 96 and 106 and stop loss of Rs 80, says Hemant Kale of Maia Financial Services on NDTV Profit
12:04 PM: Buy Opto Circuits (Rs 307) at current levels and add more on dips. The stock is likely to give fairly solid returns over a medium term.
11:56 AM: Hold United Bank with a stop loss of Rs 105, says Pankaj Jain of Satguru Capital on Zee Business
11:52 AM: Hold MTNL (Rs 64) and buy small quantities at declines for medium term.
Though the stock may not move up sharply in the near term, the downside risk looks limited from here.
11:48 AM: Buy Indiabulls Real Estate on dips with a target of Rs 186 and stop loss of Rs 177, says Sudarshan Sukhani, technical analyst, on CNBC TV18
11:44 AM: Buy Unitech September Futures above 82.45: ICICIDirect
11:40 AM: Buy Bharat Forge at Rs 369 with a 3-4 day target of Rs 390 and stop loss of Rs 362, says Manoj Sachdeva of Hem Securities on CNBC Awaaz
11:36 AM: Buy ZEE September Futures above 292.90: ICICIDirect Send to friends
11:24 AM: Sell Sesa Goa with a target of Rs 300 and stop loss of Rs 320, says Shardul Kulkarni of Angel Broking on NDTV Profit.
11:20 AM: Buy Sanwaria Agro Oils for the target prices of Rs 58 / higher with a stop loss of Rs 48: ICICIDirect
11:12 AM: Buy Mahindra & Mahindra 660 Call at Rs 12 with target of Rs 20, says VK Sharma of HDFC Securities on CNBC TV18
11:08 AM: Buy Nagarjuna Fertilizers for the target prices of Rs 34.80/ higher with a stop loss of Rs 30.50: ICICIDirect
11:04 AM: Buy IDBI Bank with a target of Rs 145 and stop loss of Rs 137, says Salil Sharma, technical analyst, on CNBC TV18
11:00 AM: Buy SAIL September Futures above 197: ICICIDirect
10:52 AM: Buy GSFC with a 5-day target of Rs 330 and stop loss of Rs 305, says Parsh Zaveri of Zaveri Investments on CNBC Awaaz.
10:48 AM: Hold GMR Infrastructure and IRB Infrastructure if looking at medium term. Add small quantities of these stocks at sharp declines. Send to friends
10:40 AM: Buy Chambal Fertilisers with a target of Rs 87 and stop loss of Rs 72, says Ashwani Gujral, technical analyst, on CNBC TV18.
10:36 AM: Hold IFGL Refractories (Rs 56) and buy more of the stock at declines. The stock could give fairly strong returns over a short to medium term.
10:32 AM: Hold United Bank with a stop loss of Rs 105, says Pankaj Jain of Satguru Capital on Zee Business
10:28 AM: IndusInd Bank (Rs 242) could see further upside in the near term. One can stay invested in the stock. Fresh buying can be considered at declines. Send to friends
10:24 AM: Buy Chambal Fertilisers with a target of Rs 84 and stop loss of Rs 73, says Arun Kejriwal, market analyst, on Zee Business
10:20 AM: Buy SBI for the target price of Rs 2970 with a stop loss of 2950: Praveen
10:16 AM: Buy McLeod Russels futures at Rs 261 with target of Rs 268 and stop loss of Rs 258, says VK Sharma of HDFC Securities on CNBC TV18
10:12 AM: NTPC (Rs 202) is a good buy for medium to long term. One can buy the stock in small quantities on dips. Send to friends
10:08 AM: Buy IDFC with a 1-2 day target of Rs 200 and stop loss of Rs 187, says Imtiaz Qureishi, technical analyst, on CNBC Awaaz.
10:04 AM: Resistance for Sensex is at 18885: Gaba Send to friends
9:56 AM: Crucial support for Sensex on the downside is at 18700: Gaba
9:52 AM: Buy Hindalco with a target of Rs 190 and stop loss of Rs 177, says Sudarshan Sukhani, technical analyst, on CNBC TV18.
9:48 AM: Resistance for Nifty is at 5675: Gaba
9:44 AM: Crucial support on the downside for Nifty is at 5600: Gaba Send to friends
9:40 AM: Buy HUL with targets of Rs 288 and 293 and stop loss of Rs 272, says Mitesh Thacker, technical analyst, on CNBC Awaaz.
9:36 AM: Strong IIP data has triggered some hectic buying in opening trades today.
The market could see a bout of profit taking later on in the session. One with a low appetite for risk would do well to have proper stop loss triggers in place.
9:28 AM: Buy GVK Power with a target of Rs 56 and stop loss of Rs 49, says Ashish Chaturmotha of Anand Rathi Securities on NDTV Profit
9:24 AM: Buoyed by strong industrial production numbers and a firm trend in global markets, stocks soared higher on the Indian bourses this morning.
The Sensex sailed past the 19,000 mark and is currently up 226 points or 1.2% at 19,025.
The Nifty, which vaulted to 5711.35, is up 65 points or 1.21% at 5705. Send to friends
9:20 AM: Buy Ruchira Papers with a target of Rs 24 and stop loss of Rs 20.75, says Arun Kejriwal, market analyst, on Zee Business
9:16 AM: Asian markets are trading in the positive zone this morning. The Hang Seng has gained 1.3% at 21,540. Nikkei has jumped 1% to 9,331
Source : sify.com
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