Markets Today

After last few sessions of sluggish trade the markets saw a deep crack today and ended with some hefty losses. It was trading flat for major part of the day but saw a heavy sell off during the later part of the day. On the F&O side there were concerns of discount widening, Nifty closed with 27 points discount.
Selling was seen in scrips across indices. All the BSE sector indices closed in red, banking and oil & gas led the downtrend. Steel majors Tata Steel and SAIL closed in deep red. It was a bad day for European markets as well but most of the Asian markets ended flat.
The broader markets also ended with deep cut but the frontliners underperformed the midcap and smallcap indices. The market breadth was extremely negative and this fall has been huge volumes.
IT index which was holding in green for better part of the day gave up its gains and closed in red with moderate losses.
Sensex is down 279.08 points or 1.92% at 14255.93, and the Nifty down 86.40 points or 2.02% at 4198.25.
About 813 shares have advanced, 1688 shares declined, and 65 shares are unchanged.
The BSE Small Cap Index closed at 7,389.76 down 1.3%.
The BSE Midcap Index ended at 6,181.91 down 1.3%.
The BSE FMCG Index down 1.5% at 1,842.20. Tata Tea, Bata India, United Brewerie, ITC, Nestle closed in red.
The BSE Metal Index was down 2.2% to close at 10,414.47. Shree Precoated, SAIL, JSW Steel, Tata Steel, Sterlite Ind were among the losers.
The BSE Health Care Index was down 1.6% at 3,785.41. Glenmark, Ranbaxy Labs, Biocon, Lupin, Novartis India closed lower.
The BSE Capital Goods Index was down 1.6% at 10,981.01. Carborundum, Reliance Infra, Suzlon Energy, AIA Engineering, BHEL, BEML ended lower.
The BSE Auto Index closed at 4,868.44 down 1.9%. MICO, TVS Motor, Tata Motors, MRF, Maruti Udyog among the losers
The BSE IT Index closed at 4,872.64 down 0.3%. I-Flex Solution, Financial Tech, HCL Tech, Wipro ended weak.
The BSE Bankex was up 2.9% at 7,594.85. Oriental Bank, PNB, Canara Bank, Union Bank, Bank of India closed higher.
The BSE Oil and Gas Index closed at 7,468.53 down 3.2%. Reliance Natura, GAIL, Petronet LNG, Reliance, ONGC closed in red.
The NSE cash turnover was at Rs 10213.5 crore and the NSE F&O turnover was at Rs 40345.37 crore. The BSE cash turnover was Rs 5265.34 crore. Total market wide turnover was at Rs 55824.21 crore.

Source:moneycontrol.com

Markets Today

It was another sluggish and flat session for markets with Sensex and Nifty ending marginally in green. The Asian cues were largely positive, Shanghai saw some wild swings but ended in green. Rest of Asia also did well for itself. Selective buying was seen in telecom, technology, capital goods and banking stocks.The BSE midcap index ended marginally higher than the frontline indices and the BSE smallcap index ended inline with Sensex.
In the telecom sector MTNL and VSNL ended higher. Capital goods stocks like Suzlon, BEML, Crompton ended strong.
The IPO space was on fire with Nitin Fire Protection had a bumper opening with 75% premium and closed up 163% at Rs 501.
NIIT declared its FY07 numbers, bonus issue and stock split. The stock ended up over 8.6%.
Sensex is up 39.24 points or 0.27% at 14535.01, and the Nifty up 17.60 points or 0.41% at 4284.65.
About 1295 shares have advanced, 1260 shares declined, and 71 shares are unchanged.
The BSE Midcap Index ended at 6,261.02 up 27.44 points or 0.44%.
The BSE Smallcap Index ended at 7,486.67 up 19.90 points or 0.27%.
The BSE Bankex was up 1.06% at 7,823.97. Kotak Mahindra, Oriental Bank, Federal Bank, Canara Bank and Bank of Baroda moved upwards.
The BSE Capital Goods Index was up 0.5% at 11,154.27. BEML, Crompton Greave, Praj Industries, SKF India and HEG closed higher.
The BSE Health Care Index was up 0.2% at 3,847.99. Nicholas Piramal, Wyeth, Ranbaxy Labs, Novartis India and Sun Pharma closed higher.
The BSE Auto Index closed at 4,960.25 up 0.2%. TVS Motor, Cummins, Bajaj Auto, Escorts, Ashok Leyland and Amtek Auto surged.
The BSE Metal Index closed at 10,648.83 up 0.1%. Sterlite Ind, NALCO, Mah Seamless, Tata Steel and Hind Zincadvanced higher.
The BSE FMCG Index lost 1.3% at 1,869.87. United Breweries, United Spirits, Tata Tea, ITC and Marico closed lower.
BSE Oil and Gas Index closed higher at 7,712.08 up 0.3%. Reliance Natural, Petronet LNG, MRPL, GAIL and IOC ended in green.
The BSE IT Index gained 0.8% at 4,884.93. I-Flex Solution, Infosys, Mphasis, Patni Computer and Wipro closed higher.
The NSE cash turnover was at Rs 9175.93 crore and the NSE F&O turnover was at Rs 31210.07 crore. The BSE cash turnover was Rs 4371.22 crore. Total market wide turnover was at Rs 44757.22 crore.

Intraday Calls for 5th June

Nifty: Supports are 4230, 4200 and Resistance are 4295, 4310
Sensex: Supports are 14400, 14450 and Resistance are 14540, 14575
Market is likely to open with flat to nagetive but a bit recovery can be seen later and may close flat to positive.

Keep Eye on new listing of NITIN FIRE (532854) if it available arround Rs. 300/- then buy it for the target of Rs. 350-375-400+.

Buy GMDC (Gujarat Mineral Dev.) @ Rs. 720/- Target Rs. 735-745/- SL Rs. 710/-
Buy PSTL @ Rs. 370/- Target Rs. 385-390/- SL Rs. 360/-
Buy Ray-Ban @ Rs. 116/- Target Rs. 120-122/- SL Rs. 114/-
Buy Sadbhav Engineering @ Rs. 530/- Target Rs. 545/- SL Rs. 525/-
Buy Bajaj Hind @ Rs. 165/- Target Rs. 170-175/- SL Rs. 162/- (oversold, Technical recovery expected)

Others are HindZinc(676), Asahi Songwon (90), NTPC (160).

Good Luck.

Technical Analysis

Ashok Leyland- Buy (Rs.38)- The stock is in consolidation phase and can be bought at this level with stoploss at Rs. 36 for a short term Tgt of Rs. 42-44.

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Markets Today

The markets opened positive but could not hold their gains at the higher level and slipped in red. It closed near the lowest point of the day with negative market breadth. Most of the Asia ended flat, but China was down over 8%.
Sensex is down 74.98 points or 0.51% at 14495.77, and the Nifty down 30.00 points or 0.70% at 4267.05.
About 1149 shares have advanced, 1371 shares declined, and 83 shares are unchanged.
Auto, IT and capital goods were among the major losers. In the auto sector Tata Motors slipped as it came out with disappointing set of monthly May sales. The IT stocks continue to reel under pressure as the rupee is seen trading at 40.52 levels against the dollar. Sugar sector was a major underperformer in today's session. Bajaj Hindustan, Balrampur Chini, Renuka were among the major losers.
However, metal index outperformed the markets with gains of over 1.2%. Hindalco surged and ended up over 4% on reports that Sterlite with Alcan is looking to buy stake in Hindalco.
FMCG stocks ITC and Dabur India were also among the top gainers.
The BSE Small Cap Index closed at 7,466.77 down 0.01%.
The BSE Midcap Index ended at 6,233.58 down 0.5%.
The BSE FMCG Index up 0.2% at 1,881.32. Dabur India, ITC, Nestle, Bata India closed in green.
The BSE Metal Index was up 1.6% to close at 10,634.17. Jindal Steel, Hind Zinc, Hindalco, Jindal Saw, Tata Steel were among the gainers.
The BSE Health Care Index was down 0.3% at 3,840.59. Panacea Biotech, Cipla, Wockhardt, Divis Labs closed lower.
The BSE Capital Goods Index was down 1.2% at 11,102.87. Bharat Elec, BHEL, Thermax, Praj Industries, HEG ended lower.
The BSE Auto Index closed at 4,948.37 down 1.6%. Tata Motors, TVS Motor, Escorts, Bharat Forge, Cummins among the losers
The BSE IT Index closed at 4,846.50 down 1.3%. Patni Computer, Satyam, I-Flex Solution, Wipro ended weak.
The BSE Bankex was up 0.8% at 7,741.56. Union Bank, SBI, Federal Bank, Bank of Baroda, IOB closed higher.
The BSE Oil and Gas Index closed at 7,691.14 down 1.1%. GAIL, HPCL, IOC, Reliance Natura closed in red.
The NSE cash turnover was at Rs 8533.08 crore and the NSE F&O turnover was at Rs 28727.23 crore. The BSE cash turnover was Rs 3682.8 crore. Total market wide turnover was at Rs 40943.11 crore.

Source:moneycontrol.com

Intraday Calls for 4th June

Nifty: Supports are 4280, 4255 and resistance are 4320, 4345
Sensex: Supports are 14500, 14400 and resistance are 14600, 14655
Market positve with high volatility and may close with some gain.

Buy Ashok Layland @ Rs. 38-39/- Target Rs. 44+/- SL Rs. 36/- (Positional Call for 5-10 days)
Buy Mahindra & Mahindra @ Rs. 762/- Target Rs. 775/- SL Rs. 755/-
Buy Prime Securities @ Rs. 67 Target Rs. 70-72-75/- SL Rs. 65/-
Buy Bajaj Hind @ Rs. 175/- Target Rs. 180-185/- SL Rs. 172/-
Buy Albert David Ltd. @ Rs. 107/- Target Rs. 112-115/- SL Rs. 102/-
Buy Sasken Communication @ Rs. 560/- Target Rs. 575/- SL Rs. 555/-
Buy Fortis Healthcare @ Rs. 88/- Target Rs. 92-95/- SL Rs. 85/- (DLF - Fortis JV)

Others are MTNL (162), Penland (503), Balrampur Chini (77), Renuka (640), ITI Ltd. (48), Rain Calcining (35).

Good Luck.