Last trading day: Friday, 28 March
4:12 PM - And it's not only the day, but also the week that one can cheer about! With the financial year's last F&O expiry, it was quite a volatile week, but it still turned out to be the biggest weekly gain for the Sensex in 2008! The BSE 30-share index gained 9.5%, while the Nifty added 8% over the week. Sectoral indices also saw huge gains over the past five trading sessions: BSE Realty index, up 12.7%, BSE IT index, up 11.5%, BSE Capital Goods index, up 10.4% and BSE Bankex up 9.4%. These are followed by BSE FMCG index, up 8.2%, BSE Metal index, up 8.6% and BSE Oil & Gas index, up 7.7%.
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3:55 PM - It will surely be a happy weekend this time! Positive global cues and significant buying interest at lower levels almost nullified the effect of shockingly high inflation numbers today. But it was the last hour of trade that bought in heavy buying and pushed the Nifty above 4900. Sensex closed at 16,371, up 355 points from the previous close. Nifty shut shop at 4942, up 111 points. Midcaps and smallcaps had an equally good day; CNX Midcap index gained 3.5% and BSE Smallcap index, a good 5%. Metal, capital goods, IT, consumer durables and realty stocks attracted significant buying. Top Sensex gainers for the day include Tata Steel, L&T, Infosys, Wipro and BHEL, while losers include HDFC, HDFC Bank and ONGC among others.
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3:46 PM - The market is showing strength now and buying is coming in on declines, says Ashwani Gujral, technical analyst, on CNBC-TV18. The Nifty can touch 5050-5100 next week, he adds.
3:39 PM - The tech pack seems to be bottoming out, says Ashwani Gujral, technical analyst, on CNBC-TV18. Infosys can now go up to Rs 1,700-1,750, he adds. The stock is at Rs 1,508, up 4.7% on the BSE.
3:33 PM - It was another good day for the market! There was some volatility during the day, but it gained towards the end of the session. Sensex ended at 16,401, up 386 points (provisional) from the previous close. Nifty shut shop at 4951, up 121 points (provisional). CNX Midcap index gained 3.6%.
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3:27 PM - Suzlon has a target of Rs 280-282 now, says Anu Jain, technical advisor, on CNBC Awaaz. Above this, Rs 300-301 will be attempted,she adds. The stock is currently trading at Rs 267.70, up 11.6% on the BSE.
3:21 PM - Tata Steel has support at Rs 650 and a likely target here would be Rs 800, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 716, up 9.4% on the BSE.
3:13 PM - HDFC Bank is the best among private banks and will see the fastest recovery, when the market starts moving up, says Anu Jain, technical advisor, on CNBC Awaaz. It has supports at Rs 1,325 and Rs 1,250, she adds. It might face resistance at Rs 1,465, but once this is crossed, then trend will turn positive, she says. The stock is currently trading at Rs 1,407, down 1.9% on the BSE.
3:07 PM - Areva T&D has a target price of Rs 2,400, says Gaurang Shah of Geojit Financial Services, on CNBC-TV18. It is a great opportunity due to the massive upgradation of T&D projects in India, he says. The stock is currently trading at Rs 1,570, up 1.8% on the BSE.
3:00 PM - The next target for DLF is Rs 725, says Anu Jain, technical advisor, on CNBC Awaaz. The stock is currently trading at Rs 688.20, up 2.1% on the BSE.
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2:52 PM - Tulip IT has a very important support at Rs 800, and if it falls below this, then its long term trend could also turn negative, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. On the upside, it needs to trade above Rs 975-1,000 for further upmove, he adds. Exit the counter on rallies, he suggests. The stock is currently trading at Rs 868.10, down 7.5% on the BSE.
2:45 PM - Torrent Power can go up to Rs 125-128, but it will face strong resistance there, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 113.50, up 8.5% on the BSE.
2:38 PM - Dealers expect sideways movement with negative bias in the market, reports NDTV Profit. Long only funds continue to be net buyers in the market today. They expect intensity of sell-off to reduce compared to other markets. Market participants believe the bottom has been tested. On the F&O side, Nifty is seeing short build-up and Nifty 5000 call is the most active.
2:31 PM - PL Research has put a 'buy' rating on XL Telecom with a target price of Rs 400, reports Zee Business. The stock is currently trading at Rs 204, up 1.2% on the BSE.
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2:24 PM - Jindal Saw has a 12-month target price of Rs 1,350, says Gaurang Shah of Geojit Financial Services, on CNBC-TV18. The company has current order book of Rs 4,000 crore, which is to be executed by January 2009, he says. The stock is currently trading at Rs 640, up 2.4% on the BSE.
2:17 PM - Matrix Labs has support at Rs 140 and might face resistance at Rs 185-190, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Unless it crosses the resistance, it will be under pressure, he adds. The stock is currently trading at Rs 160.10, up 11.6% on the BSE.
2:09 PM - ITD Cementation has a target price of Rs 380, says Gaurang Shah of Geojit Financial Services, on CNBC-TV18. The company has a strong order book of over Rs 3,000 crore and is well equipped on the tech front to execure projects in a short time, he adds. The stock is currently trading at Rs 339.50, up 10% on the BSE.
2:02 PM - The market is managing to stay in the positive terrain. Sensex is currently trading at 16,045, up 30 points from the previous close. Nifty is at 4844, up 13 points. Consumer durables, IT, metal and power stocks are popular today, while banking stocks are being beaten up. Market breadth is extremely strong, with 1,040 advances against 194 declines on the NSE.
1:54 PM - In the short term, the market may consolidate here, says Mahesh Bhagwat, Head of Equity at MAPE ADMISI Securities, on CNBC-TV18. But 4800-4790 is an imporatnt level for the Nifty and if it falls below this, then there are chances that it might slip further, he adds.
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1:47 PM - Alembic has long term support at Rs 42 and will face resistance at Rs 74, says a technical analyst, on Zee Business. Since its immediate trend is down, one should exit the counter at higher levels, he suggests. The stock is currently trading at Rs 50.75, up 10.7% on the BSE.
1:40 PM - Era Infra Engineering has secured a contract from Delhi Metro Rail Corporation (DMRC)worth Rs 148.40 crore. The stock is currently trading at Rs 597.75, up over 1% on the BSE.
1:33 PM - Spicejet has a medium to long term support at Rs 38-39, says a technical anlayst, on Zee Business. If it falls below this level, then one should exit this counter, he suggests. On the upside, one can look at booking profits at Rs 44-50, he adds. The stock is currently trading at Rs 38.70, up 1.3% on the BSE.
1:24 PM - Indiabulls Financial Services has a short to medium term target of Rs 480, says a technical analyst, on Zee Business. In the long term, it can also go up to Rs 580-600, he adds. The stock is currently trading at Rs 465.15, up 6.1% on the BSE.
1:16 PM - Yes Bank has resistance at Rs 200-205 and support at Rs 145-165, says Bharat Dalal, technical analyst of Dawnay Day AV Financial Services, on NDTV Profit. The stock is currently trading at Rs 182, down 2.02% on the BSE.
1:10 PM - Gitanjali Gems has resistance at Rs 265 and support at Rs 215, says Bharat Dalal, technical analyst of Dawnay Day AV Financial Services, on NDTV Profit. One can exit at higher levels, he says. The stock is currently trading at Rs 238, down 2.21% on the BSE.
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1:02 PM - Positive cues from Asian markets are keeping the Indian market buoyant after inflation numbers disappointed. Sensex is currently trading at 16,065, up 49 points from the previous close. Nifty is at 4847, up 17 points. CNX Midcap index is up 1% and BSE Smallcap index, up 2.9%.
12:58 PM - JP Hydro has resistance at Rs 68-70, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 54, up 2.5% on the BSE.
12:54 PM - Hindustan Unilever has a target price of Rs 275-280, says Bharat Dalal, technical analyst of Dawnay Day AV Financial Services, on NDTV Profit. The stock has support at Rs 210-225 and one can accumulate it at lower levels for the long term, he says. The stock is currently trading at Rs 240, down 1.54% on the BSE.
12:49 PM - Gujarat NRE Coke is a buy on dips and if it sees a breakout at Rs 155 it can go to Rs 200 and more, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 149, up 1.97% on the BSE.
12:44 PM - Geojit Financial Services has resistance at Rs 60-70 where there will be temptation to book profits but the stock is a good long-term story, says Sajeev Dhavan of JV Capital Services, on CNBC TV18. The stock is currently trading at Rs 46, up 1.74% on the BSE.
12:36 PM - Gammon India has a target price of Rs 700-800 in 9-12 months, says Rajesh Tambe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 396, down 0.59% on the BSE. Gammon Infrastructure from the same pedigree will also give good returns in the long term and can be accumulated at current levels, he adds.
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12:30 PM - The market seems to have digested the bad inflation numbers but just moved on. No negative impact. Sensex is trading at 16025, up 6 points and Nifty is at 4836, up 6 points from the previous close. The CNX Midcaps index is up 0.71% and BSE Smallcaps index is up 2.32%. The market breadth is positive with advances at 963 against declines of 238 on the NSE.
12:22 PM - SCI has resistance at Rs 205-223 and support at Rs 180, says Bharat Dalal, technical analyst of Dawnay Day AV Financial Services, on NDTV Profit. One can exit at higher levels, he says. The stock is currently trading at Rs 198, up 1.22% on the BSE.
12:16 PM - Inflation is at 6.68% vs 5.9% for the week ended March 15, reports NDTV Profit. Inflation is at a 59-week high. The inflation numbers are really ugly and this would warrant fiscal and monetary measures, says Shubhada Rao, chief economist with Yes Bank. Inflation is well past the comfort zone and this is cause for critical concern for the government, she adds. The BSE Bankex index is down 2.95%.
12:08 PM - Gujarat NRE Coke has resistance at Rs 210, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can book partial profits at these levels, he says. The stock is currently trading at Rs 150, up 2.86% on the BSE.
12:02 PM - DLF has resistance at Rs 680-685 and of it is able to cross that it can go up to Rs 792-800, says Manas Jaiswal, technical analyst with Emkay Shares and Stock Brokers, on NDTV Profit. The stock is currently trading at Rs 673, down 0.02% on the BSE.
11:52 AM - Edelweiss Capital has resistance at Rs 970-980 and support at Rs 680, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can book partial profits at these levels, he says. The stock is currently trading at Rs 812, down 4.52% on the BSE.
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11:44 AM - ITC has resistance at Rs 220 and support at Rs 180, says PK Agarwal of Bonanza Portfolio, on Zee Business. The stock gives sure but limited returns so one can book partial profits, he says. The stock is currently trading at Rs 204, up 2.32% on the BSE.
11:37 AM - The market gives up its morning gains and is trading weak. Sensex is trading at 15929, down 86 points and Nifty is at 4810, down 20 points from the previous close. The CNX Midcaps index is up 0.43% and BSE Smallcaps index is up 2.15%. The market breadth is positive with advances at 955 against declines of 228 on the NSE.
11:29 AM - Orbit Corporation has been beaten down like all the stock in the realty space, it has resistance at Rs 611 and support at Rs 460, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can book partial profits at these levels, he says. The stock is currently trading at Rs 563, up 4.86% on the BSE.
11:22 AM - The government withdraws DEPB (Duty Entitlement Passbook Scheme) on cement, ferrous metals, manganese and chrome in a bid to curb inflation, reports NDTV Profit. The government suspends DEPB benefits on steel exports in a bid to curtail exports. The move to impact bottomline by Rs 600 crore on integrated steel companies who do not import raw materials. India Cements is down 1.7% and UltraTech Cement is down 0.04% on the BSE.
11:12 AM - Kotak Mahindra Bank is likely to be a multi-bagger stock with a 2-3 year horizon, says Sajeev Dhavan of JV Capital Services, on CNBC TV18. The stock has a limited downside and is a great buy at current levels, he says. The stock is currently trading at Rs 652, down 5.25% on the BSE.
11:03 AM - Adlabs is the second best play in the media space and the stock is a great buy at current levels for an investment perspective of 2-3 years, says Rajesh Jain of Pranav Securities, on CNBC TV18. The stock is currently trading at Rs 636, up 2.71% on the BSE.
10:55 AM - Reliance Energy has resistance at Rs 1370 and support at Rs 1100, says PK Agarwal of Bonanza Portfolio, on Zee Business. If the stock crosses Rs 1370, it can go to Rs 1400-1600, he says. The stock is currently trading at Rs 1315, up 2.22% on the BSE.
10:45 AM - Merrill Lynch has a target price of Rs 923 for Tata Motors, reports Zee Business. The stock is currently trading at Rs 644, down 1.71% on the BSE.
10:38 AM - Tata Motors has been an underperformer and will continue to be so, it has a target of Rs 800-850 in 12-15 months, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock has support at Rs 575-600, he says.The stock is currently trading at Rs 644, down 1.71% on the BSE.
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10:30 AM - The market is cooling off. Sensex is trading at 16023, up 7 points and Nifty is at 4836, up 6 points from the previous close. The CNX Midcaps index is up 1.29% and BSE Smallcaps index is up 2.18%. BSE Metal index is shining, up 3.11% and BSE Realty index up 1.62%. The market breadth is positive with advances at 927 against declines of 164 on the NSE.
10:25 AM - Tata Motors continues to look weak and may fall to Rs 597, says Manas Jaiswal, technical analyst with Emkay Shares and Stock Brokers, on NDTV Profit. If the stock breaks Rs 597 it can even go down to Rs 520, so one should maintain a stop loss of Rs 576, he says. The stock is currently trading at Rs 644, down 1.71% on the BSE.
10:15 AM - Suzlon has resistance at Rs 313 and support at Rs 215-220, says Ashwani Gujral, technical analyst, on CNBC Awaaz. But the stock is unlikely to sustain the higher levels and it's difficult to give a long term call, he says. The stock is currently trading at Rs 251, up 4.67% on the BSE.
10:04 AM - The market is likely to see consolidation, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. Nifty has resistance at 4910 and support at 4770, he says. The pharmaceutical and IT sector are expected to show activity today, he adds.
9:57 AM - The Asian markets are trading positive. The Indian market sees a flattish opening and quickly moves up. Sensex is currently trading at 16156, up 140 points. Nifty is trading at 4883, up 52 points from the previous close. The CNX Midcaps index is up 0.52% and BSE Smallcaps index is up 0.98%.
9:47 AM - The NDTV Opinion Poll expects to see a flattish opening for the market with an early smart recovery soon. Nifty range is expected to be 4800-4950. Stocks to watch out for are Aurobindo Pharma, Indus Fila and ACC.
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