Indian Stock Market on New Year
Posted Jan.01, 2009 in Uncategorized
Thursday, 1 January 2:50 PM – Hold Lanco Infra which has a target of Rs 200 in 6-9 months where one can exit the stock, says Hardik Jain of Angel Broking, on CNBC Awaaz. The stock has support at Rs 135, it is currently trading at Rs 162, up 4.21% on the BSE. » 2:44 PM – Sell GVK Power with a target of Rs 19-16 and maintain a stop loss of Rs 27, says Sanjeev Agarwal of Globe Capital, on CNBC Awaaz. The stock is currently trading at Rs 22, up 2.92% on the BSE. » 2:36 PM – Buy Cairn India around Rs 130-140 for good long-term returns, says Rajesh Tambe, technical analyst, on Zee Business. It is currently trading at Rs 170, down 0.87% on the BSE. » 2:28 PM – As a defensive, one can have Infosys in the portfolio, says Dilip Bhatt of Prabhudas Lilladher, on CNBC Awaaz. But the stock may not be able to give more than 20-22% returns in the next one year, he adds. It is currently trading at Rs 1116, down 0.13% on the BSE. » 2:18 PM – Buy Noida Toll Bridge around Rs 18-20 for good long term returns, says Rajesh Tambe, technical analyst, on Zee Business. It is currently trading at Rs 26, up 16% on the BSE. » 2:08 PM – The market is likely to be in consolidation mode for the first six months of 2009, says Nilesh Shah, MD & CEO of ICICI Prudential, on CNBC Awaaz. The market is digesting news in fast forward mode and the second half of 2009 may see the market recover, he adds. » 2:00 PM – The market is trading quiet but firm. Sensex is trading at 9758, up 110 points and Nifty is at 2989, up 29 points from the previous close. CNX Midcap index is up 1.39% and BSE Smallcap index is up 2.56%. The market breadth is positive with advances at 981 against declines of 197 on the NSE. » 1:54 PM – HEM Securities maintains a sell call on BPCL with a target of Rs 350 and stop loss of Rs 385, reports CNBC Awaaz. The stock is currently trading at Rs 364, down 3.18% on the BSE. » 1:46 PM – Maruti Suzuki can give 35-40% returns in the next 12 months, says Dilip Bhatt of Prabhudas Lilladher, on CNBC Awaaz. The stock is currently trading at Rs 527.20, up 1.4% on the BSE. » 1:38 PM – Buy Bajaj Hindustan with a medium term target of Rs 100, says Jatindar Sharma, technical analyst, on CNBC Awaaz. One can buy more stock around Rs 65 and it is currently trading at Rs 74, up 2.68% on the BSE. » 1:30 PM – Hold Indian Bank which has resistance at Rs 145 after which it can go to Rs 175-180, says Hardik Jain of Angel Broking, on CNBC Awaaz. The stock has support at Rs 125, it is currently trading at Rs 138, up 1.39% on the BSE. » 1:22 PM – Sell Ispat in any rally and in the steel space, only Tata Steel and JSW Steel are best for the long term, says Rajesh Tambe, technical analyst, on Zee Business. Ispat is currently trading at Rs 12, up 3.03% on the BSE. » 1:12 PM – The Asian markets are shut. The Indian market is on its own and trading quiet. Sensex is trading at 9756, up 109 points and Nifty is at 2990, up 31 points from the previous close. CNX Midcap index is up 1.24% and BSE Smallcap index is up 1.20%. The market breadth is positive with advances at 969 against declines of 183 on the NSE. » 1:02 PM – HPCL has a target of Rs 350, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 266.90, down 2.1% on the BSE. » 12:51 PM – SBI can give 35-40% returns in 2009, says Dilip Bhat of Prabhudas Lilladher, on CNBC Awaaz. The stock is currently trading at Rs 1,304, up 1.2% on the BSE. » 12:44 PM – Sesa Goa can be bought for a long term target of Rs 120-150, says says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep a stoploss of Rs 74 here, he suggests. The stock is currently trading at Rs 88.70, up 3.5% on the BSE. » 12:37 PM – BPCL has a target of Rs 460, says says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 364.85, down 3% on the BSE. » 12:29 PM – BHEL can give 45-50% returns in 2009, says Dilip Bhat of Prabhudas Lilladher, on CNBC awaaz. The stock is currently trading at Rs 1,372.65, up 0.8% on the BSE. » 12:22 PM – Glenmark Pharma has target of Rs 415-420, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep a stoploss of Rs 250 here, he suggests. The stock is currently trading at Rs 297.85, up 1% on the BSE. » 12:15 PM – Inflation for week ended December 20 has come in at 6.38% versus 6.61% the previous week. » 12:06 PM – Cadila Healthcare can go up to Rs 335-340, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep a stoploss of Rs 240 here, he suggests. The stock is currently trading at Rs 282.50, up 5.6% on the BSE. » 11:59 AM – IDFC can go up to Rs 83-100, says Ashwani Gujral, technical analyst, on CNBC-TV18. Keep a stop loss at Rs 55-57, he suggests. The stock is currently trading at Rs 68.40, up 2.4% on the BSE. » 11:51 AM – One can invest in Bank of India at Rs 260-270 as the share prices may go up to Rs 380-385, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs294.10, up 2.2% on the BSE. » 11:44 AM – ICICI Bank has support at Rs 280-285 and will face resistance at Rs 670-680, says Sudhanshu Pandey of LKP Shares, on CNBC-TV18. The stock may continue to remain bearish, he adds. The stock is currently trading at Rs 461.90, up over 3% on the BSE. » 11:38 AM – In banking sector DENA Bank has minimum risk involved, says Ashwani Gujral, technical analyst, on CNBC-TV18. He recommends buying them at Rs 30-32, keeping a stop loss at Rs 25. The prices can rise up to Rs 52-55, he adds. The stock is currently trading at Rs 33.90, up 2.6% on the BSE. » 11:25 AM – The market will move up in 2009 at some point in time, which will be an opportunity to make money, says Pashupati Advani of Advani OTC Dealers, on CNBC-TV18. The market may touch 12,000 on the Sensex in 2009, he adds. However, in worst case scenario market may test bottoms too, he says. » 11:18 AM – Financials and infrastructure can be preferred bets for 2009, says Samir Arora of Helios Capital, on CNBC-TV18. Select media and broking stocks can also be looked at, he adds. But he does not like commodities, pharma, technology and consumer staple stocks. » 11:11 AM – The pull back rally of the year 2008 may extend in January 2009, says market experts, reports CNBC TV-18. Sensex can build a bottom at 7,000-7500 and can rise up to 12,000-12500, they add. » 11:01 AM – The market is still trading up. Sensex is at 9,758, up 111 points from the previous close. Nifty is at 2989, up 30 points from the previous close. BSE Midcap index is up 1.4% and BSE Smallcap index, up 1.7%. Metal, realty, banking and IT stocks are witnessing significant buyng interest. » 10:54 AM – SBI will have support at Rs 980-1000 and will face strong resistance at Rs 1600-1700, says Sudhanshu Pandey of LKP Shares, on CNBC-TV18. If it breaks the support it can go as low as Rs 660-680, he adds. The stock is currently trading at Rs 1297.75, up 0.7% on the BSE. » 10:47 AM – If Triveni Engineering can cross Rs 52, then it can easily go up to Rs 73, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock has support at Rs 42, he adds. It is currently trading at Rs 52.55, up 4.6% on the BSE. » 10:39 AM – In largecaps, stick to the financial sector, says Ashwani Gujral, technical analyst, on CNBC-TV18. In midcaps, one can look at PSU banking stocks, sugar stocks and even media stocks, he suggests. » 10:32 AM – About 15-20% exposure to gold is advisable, as it will do well int he next 1-2 years, says Samir Arora of Helios Capital, on CNBC-TV18. » 10:24 AM – Satyam Computers has shown a bounce back and may give a good exit opportunity at Rs 200 in the year 2009, says Sudhanshu Pandey of LKP Shares, on CNBC-TV18. The stock is currently trading at Rs 174.80, up 2.7% on the BSE » 10:17 AM – One can remain long in the sugar sector this year, says Ashwani Gujral, technical analyst, on CNBC-TV18. Bajaj Hindusthan can go up to Rs 90, he adds. The stock is currently trading at Rs 73.80, up 1.4% on the BSE. » 10:11 AM – Infosys will have support at Rs 930-940 and will face resistance at Rs 1200-1250, says Sudhanshu Pandey of LKP Shares, on CNBC-TV18. The share may continue to remain weak, he adds.The stock is currently trading at Rs 1123,up o.5% on the BSE. » 10:03 AM – The market has opened slightly higher on the first day of calendar year 2009 and is slowly gaining strength. Sensex is at 9,719, up 71 points from the previous close. Nifty is at 2985, up 25 points. » 9:57 AM – The Nifty may rally as high as 3700 by February-March this year, says Ashwani Gujral, technical analyst, on CNBC-TV18. But from there it may decline to 2200-2000, he adds. » 9:51 AM – During the year 2009, Nifty will have a strong support at 2400 and will face resistance at 3600, says Sudhanshu Pandey of LKP Shares, on CNBC-TV18. If it breaks the resistance, it can rise up to 4200, he adds. »