The Sensex could see support at 14,131 further fall, while could face resistance at 14,347 on a rebound. Nifty has immediate resistance at 4225-4242 and then at 4267. On the downside, Nifty has support at 4186-4168 and further below at 4132.
Buy NTPC on decline around Rs. 158-160/- Target Rs. 165/- SL Rs. 155/-
Buy BOB on decline around Rs. 260-265/- Target Rs. 270-275/- SL Rs. 255/-
Buy Andhra Bank around Rs. 86-87/- Target Rs. 92/- SL Rs. 84/-
Buy TVS Motor around Rs. 66/- Target Rs. 69-72/- SL Rs. 64/-
Buy Agro Tech Food around Rs. 125/- Target Rs. 132-135/- SL Rs. 120/-
Others are Accentia Technologies Ltd (Rs. 80 Cr. new order), RNRL, Sterlite Optical, BPCL (Super Duper Results), Reliance Energy, Orbit Crop. all are buys on decline as market will open negative.
Friday, May 25, 2007
Thursday, May 24, 2007
Market Today
It was a disappointing close for the markets. It ended in red near the lowest point of the day. The global cues were not very encouraging as well. Broader markets have performed a shade better. Breadth was quite weak but midcap and smallcap were not hit as badly. Heavy selling pressure was seen in banking, metal and oil & gas stocks. However, select technology, HLL, media stocks closed in green.
Steel stocks were under pressure leading the downtrend was Tata Steel. The Steel Mininstry has said that there is no question of steel prices rising as of now.
Bank stocks ended in red on fears of hike in the CRR going ahead.
Advanta India, Matrix, Arihant, NIIT Tech, Divis Labs, Timken and Deccan Aviation were the stocks that performed better in the broader space. Even media stocks like Balaji, UTV, Sun TV, Raj TV closed higher.
Sensex was down 145.15 points or 1.01% at 14218.11, and the Nifty down 41.30 points or 0.97% at 4204.9.
About 996 shares have advanced, 1513 shares declined, and 87 shares are unchanged.
Top gainers on the indices were NTPC, HLL, Satyam, ABB, Reliance Petro, HCL Tech and Tata Motors.
Top losers on the indices are Tata Steel, PNB, HPCL, Reliance Energy, Reliance Comm and HDFC Bank.
The BSE Small Cap Index closed at 7,201.75 down 0.5%.
The BSE Midcap Index ended at 6,100.47 down 8 points or 0.14%.
The BSE FMCG Index gained 0.2% at 1,901.96. United Spirits, P and G, Nirma, Nestle closed in red.
The BSE Metal Index was down 1.6% to close at 10,462.28. Tata Steel, Welspun Guj, JSW Steel, Hindalco
were among the losers.
The BSE Bankex was down 1.5% at 7,479.29. PNB, IOB, Oriental Bank, Union Bank, UTI Bank moved downwards.
The BSE Health Care Index was down 0.5% at 3,738.66. Aurobindo Pharm, Glenmark, Cadila Health, Sun Pharma, Ranbaxy Labs closed lower.
The BSE Capital Goods Index was down 0.4% at 10,252.98. Alfa Laval, Thermax, KEC Infrastruct, HEG, L&T ended higher
The BSE Auto Index closed flat at 4,841.56. MICO, TVS Motor, Tata Motors, Sundram were among the gainers.
The BSE IT Index closed at 5,067.73 up 0.3%. HCL Info, HCL Tech, Satyam, Infosys ended higher.
The BSE Oil and Gas Index closed at 7,655.33 down 1.5%. HPCL, IOC, BPCL, Reliance, ONGC ended weak.
The NSE cash turnover was at Rs 9550.97 crore and the NSE F&O turnover was at Rs 34762.53 crore. The BSE cash turnover was Rs 4441.96 crore. Total market wide turnover was at Rs 48755.46 crore.
Steel stocks were under pressure leading the downtrend was Tata Steel. The Steel Mininstry has said that there is no question of steel prices rising as of now.
Bank stocks ended in red on fears of hike in the CRR going ahead.
Advanta India, Matrix, Arihant, NIIT Tech, Divis Labs, Timken and Deccan Aviation were the stocks that performed better in the broader space. Even media stocks like Balaji, UTV, Sun TV, Raj TV closed higher.
Sensex was down 145.15 points or 1.01% at 14218.11, and the Nifty down 41.30 points or 0.97% at 4204.9.
About 996 shares have advanced, 1513 shares declined, and 87 shares are unchanged.
Top gainers on the indices were NTPC, HLL, Satyam, ABB, Reliance Petro, HCL Tech and Tata Motors.
Top losers on the indices are Tata Steel, PNB, HPCL, Reliance Energy, Reliance Comm and HDFC Bank.
The BSE Small Cap Index closed at 7,201.75 down 0.5%.
The BSE Midcap Index ended at 6,100.47 down 8 points or 0.14%.
The BSE FMCG Index gained 0.2% at 1,901.96. United Spirits, P and G, Nirma, Nestle closed in red.
The BSE Metal Index was down 1.6% to close at 10,462.28. Tata Steel, Welspun Guj, JSW Steel, Hindalco
were among the losers.
The BSE Bankex was down 1.5% at 7,479.29. PNB, IOB, Oriental Bank, Union Bank, UTI Bank moved downwards.
The BSE Health Care Index was down 0.5% at 3,738.66. Aurobindo Pharm, Glenmark, Cadila Health, Sun Pharma, Ranbaxy Labs closed lower.
The BSE Capital Goods Index was down 0.4% at 10,252.98. Alfa Laval, Thermax, KEC Infrastruct, HEG, L&T ended higher
The BSE Auto Index closed flat at 4,841.56. MICO, TVS Motor, Tata Motors, Sundram were among the gainers.
The BSE IT Index closed at 5,067.73 up 0.3%. HCL Info, HCL Tech, Satyam, Infosys ended higher.
The BSE Oil and Gas Index closed at 7,655.33 down 1.5%. HPCL, IOC, BPCL, Reliance, ONGC ended weak.
The NSE cash turnover was at Rs 9550.97 crore and the NSE F&O turnover was at Rs 34762.53 crore. The BSE cash turnover was Rs 4441.96 crore. Total market wide turnover was at Rs 48755.46 crore.
Source: Moneycontrol.com
Intraday Calls for 24th May
NSE: It will take support 4221, 4195 and 4175, upper side it will face resistance 4256 and 4281.
BSE: It will take support 14290 and 14221, upper side it will face resistance 14396 and 14467.
Buy Bata India @ Rs.172-175/- Target Rs. 180-184/- SL Rs. 172/- (Undergoing Contract with Reliance Retail)
Buy IDEA @ Rs. 118/- Target Rs. 122-125/- SL Rs. 115/-
Buy NIIT Tech @ Rs. 520/- Target Rs. 530-535-540/- SL Rs. 515/-
Buy Visu International @ Rs. 13/- Target Rs. 15-16/- SL Rs. 12.5/- (High Risk Call)
Buy Pyramid Saimara (PSTL) @ Rs. 340/- Target Rs. 350/- SL Rs. 335/- (High Risk Call)
Sell Raj TV @ higher levels about Rs. 325-333/- Target Rs. 305/- SL Rs. 340/-
Others are Redington, Inox Leisure, Cinemax on buy side.
New listing today Hilton Metal Forging Ltd.
BSE: It will take support 14290 and 14221, upper side it will face resistance 14396 and 14467.
Buy Bata India @ Rs.172-175/- Target Rs. 180-184/- SL Rs. 172/- (Undergoing Contract with Reliance Retail)
Buy IDEA @ Rs. 118/- Target Rs. 122-125/- SL Rs. 115/-
Buy NIIT Tech @ Rs. 520/- Target Rs. 530-535-540/- SL Rs. 515/-
Buy Visu International @ Rs. 13/- Target Rs. 15-16/- SL Rs. 12.5/- (High Risk Call)
Buy Pyramid Saimara (PSTL) @ Rs. 340/- Target Rs. 350/- SL Rs. 335/- (High Risk Call)
Sell Raj TV @ higher levels about Rs. 325-333/- Target Rs. 305/- SL Rs. 340/-
Others are Redington, Inox Leisure, Cinemax on buy side.
New listing today Hilton Metal Forging Ltd.
Wednesday, May 23, 2007
Buy on every dip, say experts
Dipan Mehta, Member, BSE and NSE, said, "I am not at all alarmed by today’s fall. What we are seeing is a natural correction taking place after the market has rallied for the past few trading sessions. It is more or less like a temporary correction and I think that the overall market remains in extremely positive territory. We are in a bull market and these are just minor corrections, which investors should take as an opportunity to perhaps increase their exposure to equity."
He believes that if the build up in the futures market continues then it may cause a correction. "We are seeing the level of open interest near about what we saw in the first week of February, which was particular high at that point of time. A number of stocks have been added to the futures market and we need to keep that in context. A lot of the open interest this time around is in the hands of experienced traders, hedge funds and it’s not as much with retail investors, which is positive. Even the cost of carry has not completely gone out of whack, it’s not anywhere in the danger zone. There is a build up taking place in the futures market and at some point of time in the future if this particular trend continues then it may cause a correction. At this point of time, I certainly don’t see that as a factor which may cause further decline in stock prices," he added.
Anish Damania of Emkay Stock Brokers says, "I think market looks okay. We were expecting a little bit of a pullback, which has happened; so it is good in a way for the markets to pull back after a decent rally." With the correction that was expected being done away with, Damania sees probably one or two more days of weakness. For the next few months, he predicts that the banking, metals and engineering stocks will perform.
Markets today
Markets close in the red on profit booking in late trade
Sensex ends down 0.6% at 14,363, Nifty down 0.7% at 4246
FMCG, oil, auto shares drag; metal stocks defy broad trend
BSE FMCG, Oil & Gas, & Auto indices end down over 1% each
BSE Metals index closes up 1%; Tata Steel up 4.9%
NSE CNX Midcap index closes down 0.8% at 5581 points
BSE Small Cap index gives up gains to end down 0.7% at 7238
Market breadth negative; NSE Advance Decline ratio around 1:2
Total market turnover was Rs 49,955.04 cr vs Rs 50,069.21 cr
Intraday Calls for 23rd May
NSE : Major support range 4075 to 4089. It will take support 4264, 4247, 4217, upper side it will face resistance 4295 and crossover it can move up to 4312.
Buy Century Textile above Rs. 650/- Target Rs. 666-670-675/- SL Rs. 642/-
Buy Torrent Power @ Rs. 76/- Target Rs. 80-82/- SL Rs. 74/- (Signed MOU with Gujarat Power Corporation Ltd. for setting up a 1000+ MW coal based power project at Pipavav in Amreli District, Gujarat.)
Buy Rama Newsprint @ Rs. 38/- Target Rs. 42-44/- SL Rs. 36/-
Buy KEI Industries @ Rs. 83/- Target Rs. 88/- SL Rs. 80/- (Also rec. as investment)
Buy Wipro @ strong support level 528/- (if sustain above 528) Target Rs. 540-545/-
Others are Dolphin Offshore, Aftek, Mysore Cement, TVS Motor, RNRL (Ultimate target Rs. 40-42/-), Prithvi Info (Ultimate Target Rs. 500+ for med to long term).
Buy Century Textile above Rs. 650/- Target Rs. 666-670-675/- SL Rs. 642/-
Buy Torrent Power @ Rs. 76/- Target Rs. 80-82/- SL Rs. 74/- (Signed MOU with Gujarat Power Corporation Ltd. for setting up a 1000+ MW coal based power project at Pipavav in Amreli District, Gujarat.)
Buy Rama Newsprint @ Rs. 38/- Target Rs. 42-44/- SL Rs. 36/-
Buy KEI Industries @ Rs. 83/- Target Rs. 88/- SL Rs. 80/- (Also rec. as investment)
Buy Wipro @ strong support level 528/- (if sustain above 528) Target Rs. 540-545/-
Others are Dolphin Offshore, Aftek, Mysore Cement, TVS Motor, RNRL (Ultimate target Rs. 40-42/-), Prithvi Info (Ultimate Target Rs. 500+ for med to long term).
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