Last trading day: Thursday, 17 April
4:31 PM - Though this was a truncated week, it was a positive one! The market made gains, thanks to positive global cues, good results from IT heavyweight Infosys, MeT predictions of a good monsoon this year and a lower inflation figure. Over the week, Sensex gained 4.25% and the Nifty, 3.7%. It was slightly better for the midcaps and smallcaps; CNX Midcap index added 4.7% and BSE Smallcap index, 5.6%. Sector-wise, BSE IT index gained 13.3%, BSE Consumer Durables index, over 6%, BSE Realty index, 5.9%, BSE Metal index, 5.8%, BSE Bankex, 4.3% and BSE Capital goods index, 3.8% over the last three trading sessions. The market will remain closed tommorrow, on account of Mahavir Jayanti and re-open on Monday, April 21, 2008.
4:25 PM - The trading week ended on a positive note today. The dreaded inflation figure came out lower than that of the previous week, which was taken well by the market. Along with this, MeT prediction of a good monsoon this year and positive global cues also helped. Sensex closed at 16,481, up 237 points from the previous close. Nifty shut shop at 4958, up 71 points. CNX Midcap index added almost 2% and BSE Smallcap index, up 2.2%. Buying was seen across the board today, but realty, metal, IT and banking stocks were the most popular. Top Sensex gainers include HDFC, Hindalco, HDFC Bank and DLF, while losers were HUL, ACC and L&T, among others.
4:20 PM - The next target for Reliance Industries is Rs 2,820, says Anil Maghnani, technical analyst, on CNBC-TV18. The stock is at Rs 2,635.35 on the BSE.
4:16 PM - I-flex can be a good buy on declines, say between Rs 1,100-1,200, says Rajesh Jain of SMC Global Securities, on CNBC Awaaz. The stock is at Rs 1,285, up a good 12% on the BSE.
4:11 PM - RNRL will face resistance at Rs 112-113, but once this is crossed, it can go up to Rs 123, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is at Rs 108.80, up 1.3% on the BSE.
4:03 PM - If JP Associates can close above Rs 240, then its next target would be Rs 270, says Rajesh Jain of SMC Global Services, on CNBC Awaaz. It has support at Rs 200-220, he adds. The stock is at Rs 216.70, up 1.4% on the BSE.
3:56 PM - Wipro has support at Rs 420-440 and resistance at Rs 490-500, where short term investors can look ta exiting the counter, says Rajesh Jain of SMC Global Securities, on CNBC Awaaz. The stock is at Rs 455, up 1.7% on the BSE.
3:49 PM - Once Chambal Fertilisers crosses Rs 71, the next target will be Rs 79, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is at Rs 70.80, up over 24% on the BSE.
3:42 PM - Infosys can be a good buy if it falls to Rs 1,580 again, says Anil Maghnani, technical analyst, on CNBC-TV18. On the upside, if it crosses Rs 1,680, then its next target would be 1,785, he adds. The stock is at Rs 1,666, up over 4% on the BSE.
3:35 PM - UCO Bank has support at Rs 32-33 and resistance between Rs 45 and Rs 55, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. One can look at exiting the stock at the resistance levels and maybe enter again after Rs 55 is crossed, he suggests. It is at Rs 39.65, up 5.5% on the BSE.
3:30 PM - It was a positive, but rangebound day for the market. Positive global cues and a slightly lower inflation number kept it buoyant. Sensex ended the day at 16,479, up 235 points (provisional) from the previous close. Nifty shut shop at 4955, up 68 points (provisional).
3:22 PM - Citigroup has put a 'buy' rating on Everest Kanto, with a target price of Rs 404, reports CNBC-TV18. The stock is currently trading at Rs 297.50, down 0.3% on the BSE.
3:16 PM - DCB can go up to Rs 135-140 in 15 days or so, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 114.55, up a whopping 24% on the BSE.
3:10 PM - Infosys might face some resistance at Rs 1,750, but once this is crossed, it can go up to Rs 2,000-2,200, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. The stock is currently trading at Rs 1,659, up 3.7% on the BSE.
3:00 PM - Sensex is currently trading at 16487, up 243 points from the previous close. Nifty is at 4957, up 69 points. CNX Midcap index has gained further strength and it is up 1.9% now. BSE Smallcap index is up over 2%.
2:55 PM - Power Grid has an immediate target of Rs 110, says Rajesh Jain of SMC Global Securities, on CNBC Awaaz. So for now continue to hold it with a stoploss at Rs 95 and review it when the target is acheived, he suggests. It has support at Rs 95-100, he adds. The stock is currently trading at Rs 102.50, up 4% on the BSE.
2:49 PM - Chambal Fertiliser will face resistance at Rs 73-74, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 70.80, up over 24% on the BSE.
2:40 PM - Sunil Hitech is a power capital goods company, having order book at 4.8x FY07 sales, says Phani Sekhar of Angel Broking, on CNBC-TV18. One can see an upside of 30-35% from the current levels here, he adds. The stock is currently trading at Rs 268, up over 3% on the BSE.
2:33 PM - JP Morgan is overweight on Gitanjali Gems and has March 2009 target of Rs 400 on the stock, reports CNBC-TV18. The stock is currently trading at 256.20, up 1.6% on the BSE.
2:27 PM - Sensex is currently trading at 16,528, up 283 points from the previous close. Nifty is at 4966, up 79 points.
2:23 PM - Indraprastha Gas has the target of Rs 170-180 in the next 5-6 quaters, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 121.25, down 3.3% on the BSE.
2:14 PM - One can expect 30-35% upside in CESC from the current levels in one year's time, says Phani Sekhar of Angel Broking, on CNBC-TV18. The stock is currently trading at Rs 434.50, up 1.8% on the BSE.
2:07 PM - Sunflag Iron has support at Rs 16-17 and there does not seem to be much downnside here, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. In the short to medium term, it will face resistance at Rs 30-35, where one may book profits, he suggests. But if you have a long term view, it will give much better returns, he adds. The stock is currently trading at Rs 21.10, up 7.4% on the BSE.
2:00 PM - Sensex is currently trading at 16,476, up 232 points from the previous close. Nifty is at 4952, up 65 points. CNX Midcap index is up 1.6% and BSE Smallcap index, up 1.7%.
1:55 PM - One can look at buying fresh or even averaging JP Associates between Rs 200 and Rs 230, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. It is a fundamentally strong stock and will give good returns oing ahead, he adds. It is currently trading at Rs 219, up 2.6% on the BSE.
1:48 PM - Power Grid will face resistance at 110-115, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. But once it crosses Rs 120, expect it to go to Rs 145 or even Rs 160, he adds. The stock is currently trading at Rs 103.15, up 4.6% on the BSE.
1:41 PM - The downside in realty space is limited now and stocks are close to their strong supports, says Hemen Kapadia, technical analyst, on Zee Business. A bounce can be expected in stocks like DLF and Unitech, so these can be good contrarion buys, he adds.
1:33 PM - Triveni Engineering has support at Rs 100 and will face resistance at Rs 140-150, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. One can look at buying the stock close to Rs 100, keeping a stoploss below Rs 95, he suggests. Once Rs 140-150 is crossed, the stock will make a bullish pattern, he adds. It is currently trading at Rs 116, up over 4% on the BSE.
1:26 PM - Sensex is currently trading at 16,494, up 250 points from the previous close. Nifty is at 4956, up 69 points. Market breadth is strong, with 1,009 stocks advancing against 226 stocks declining on the NSE.
1:20 PM - Noida Toll Bridge is a fundamentally strong stock, says Sanjeev Agarwal, CEO, Dynamics Research, on Zee Business. It will face resistance at Rs 62-65, but once this is crossed, it can go up to its previous high of Rs 80, he adds. It can be a good investment for the long term, he suggests. The stock is currently trading at Rs 45.15, up 3.9% on the BSE.
1:12 PM - Merrill Lynch has a target price of Rs 310 on Aptech, reports CNBC-TV18. The stock is currently trading at Rs 255, down over 3% on the BSE.
1:05 PM - Reliance group stocks like RPL, Reliance Energy, Reliance Capital, RNRL and Adlabs are in a bounce back mode and can flare up from here, says Hemen Kapadia, technical analyst, on Zee Business.
12:58 PM - Sensex is at 16,500, up 256 points from the previous close. Nifty is at 4960, up 73 points. CNX Midcap index is up 1.7% and BSE Smallcap index, 1.8%. Market breadth is still strong, with 1,014 advances against 217 declines on the NSE.
12:52 PM - Mastek will face resistance at Rs 400-425, so it is not advisable to enter the counter at current levels, says Prakash Gaba, techncial analyst, on CNBC Awaaz. The stock is currently at Rs 364 on the BSE.
12:45 PM - One can expect some upside in stocks like IFCI and TTML now, says Hemen Kapadia, technical analyst, on Zee Business. IFCI is currently trading at Rs 49.15, up 2.2% and TTML is at Rs 31.25, up 5.9%, on the BSE.
12:37 PM - If Bharti Airtel can close above Rs 845, then expect another 5-6% movement in this stock, says Hemen Kapadia, technical analyst, on Zee Business. The stock is currently trading at Rs 816, up 1.2% on the BSE.
12:30 PM - The market is still holding on to most of its gains. Sensex is at 16,475, up 230 points from the previous close. Nifty is at 4953, up 65 points. IT, Realty, metal and banking stocks are leading and all sectoral indices are trading higher. Market breadth is extremely strong, with 1,009 advances against 212 declines on the NSE.
12:23 PM - If the Sensex can sustain above 16,341, then it will have a short to medium term target of 17,300, says Hemen Kapadia, technical analyst, on Zee Business. And if the Nifty can close above 4948 with good volumes for at least two trading sessions, then one can look at 5200, he adds.
12:15 PM - One can expect inflation to average at 5.9% this year, says an expert form Deutsche Bank, on CNBC-TV18. He sees India GDP growth above 7%. Do not expect RBI to tighten monetary policy further, he says.
12:08 PM - If Reliance Industries can sustain above Rs 2,646, then one can expect it to go to Rs 2,800 next week, says Hemen Kapadia, tehnical analyst, on Zee Business. The stock is currently trading at Rs 2,665, up 0.8% on the BSE.
12:00 PM - The market has taken the lower inflation number positively and is trading close to the day's high. This is the first weekly decline in inflation after eight weeks of rise. Sensex is currently at 16,537, up 293 points from the previous close. Nifty is at 4970, up 83 points.
11:54 AM - One can look at buying Reliance Energy now, for a target of Rs 1,700, says Prakash Gaba, techncial analyst, on CNBC Awaz. The stock is currently trading at Rs 1,365.70, up 1.5% on the BSE.
11:47 AM - Inflation for week-ended April 5 has come out at 7.14% versus 7.41% the previous week, reports CNBC-TV18. CNBC-TV18 Poll had expected it at 7.3%.
11:40 AM - Emkay Share & Stock Brokers has a 'buy' rating on GTL, with a target price of Rs 401, reports Zee Business. The stock is currently trading at Rs 271.75, down 0.8% on the BSE.
11:32 AM - Stocks like Torrent Power and Reliance Power may be able to give good returns going forward, says Rajesh Tambe of Sunchan Securities, on CNBC Awaaz. Torrent Power is currently trading at Rs 118.50, up 2.2% and Reliance Power is at Rs 387, up over 3%, on the BSE.
11:24 AM - With steel prices rising, SAIL is fundamentally under pressure, says PK Agarwal of Bonanza Portfolio, on Zee Business. But technically, it may bounce to Rs 180-200 sometime when the market moves higher, and one should look at exiting the counter here, he adds. It has support at Rs 150, he says. The stock is currently trading at Rs 164.40, up 1.5% on the BSE.
11:17 AM - The market has been seeing a running correction, says Prakash Gaba, technical analyst, on CNBC-TV18. Sensex now has a target of 17,077, he adds.
11:10 AM - RNRL has a good support at Rs 90 and if the market moves higher, it can go to Rs 130-150, says PK Agarwal of Bonanza Portfolio, on Zee Business. At higher levels, it is advisable to book profits in the counter, he says. Fundamentally, the company's business model is not clear and neither does it have a strong balance sheet, he adds. The stock is currently trading at Rs 109.70, up over 2% on the BSE.
11:03 AM - The market is off the day's high, but still trading firm, led by IT. Sensex is currently trading at 16,493, up 237 points from the previous close. Nifty is at 4957, up 69 points. CNX Midcap index has added 1.5% in trade so far and BSE Smallcap index, 1.6%. All sectoral indices are trading higher, and realty and banking stocks are also witnessing buying interest. Market breadth is strong.
10:54 AM - Central Bank is not the best choice in PSU midcap banks, as it is a slow mover, says PK Agarwal of Bonanza Portfolio, on Zee Business. The stock has good support at Rs 85 and it is advisable to sell it on a rally, he says. Look at banks like Dena Bank, Syndicate Bank and even Vijaya Bank, which can give better returns faster, he suggests. Central Bank is currently trading at Rs 96.75, up 2.8% on the BSE.
10:47 AM - Angel Broking has a 'buy' rating on Simplex Infra, with a target price of Rs 705, reports Zee Business. The stock is currently trading at Rs 595, up 1.3% on the BSE.
10:40 AM - Expect inflation to go up to 8%, if not higher, says Robert Prior-Wandesforde, Senior Asian Economist for HSBC Holdings, on CNBC-TV18. He therefore says it would not be a surprise if the RBI hikes both, the CRR and the repo rate. RBI's statement is quite hawkish, he says.
10:33 AM - The first target for JP Hydro is Rs 75-80, says PK Agarwal of Bonanza Portfolio, on Zee Business. Above this, it can even go to Rs 90, he adds. The stock has good support at Rs 54, he says. It is currently trading at Rs 63.40, up 1.8% on the BSE.
10:25 AM - Nifty will face stiff resistance between 5020 and 5050, says Rahul Mohindar, technical analyst, on CNBC Awaaz. So one can book profits here and then review the situation, he suggests. This can be a short term breakout, as the long term breakout is not in sight as of now, he adds. So it is advisable that one goes home light today, he says.
10:17 AM - Investors should stay away from Orchid Chemicals for now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. But for traders, it might be an opportunity worth taking, he adds. The stock is currently trading at Rs 319.65, up 0.2% on the BSE.
10:10 AM - Aptech looks excellent on the charts and the stock seems to be getting ready for a rally now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. It can be a good trading opportunity and even a short term investment opportunity, if one has some risk appetite, he suggests. The stock is currently trading at Rs 269, up 2.2% on the BSE.
10:02 AM - It is best to avoid sectors like cement, steel, brokerages and capital goods for now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. They may continue to underperform for some more time, he adds.
9:55 AM - The market has opened higher, as expected, on Thursday. The Sensex is currently trading at 16,493, up 248 points from the previous close. Nifty is trading above 4950, at 4954, up 66 points.
9:51 AM - The market may have a gap up opening today, but the Nifty will face stiff resistance close to 5000, says Vijay Bhambwani, technical analyst, on CNBC Awaaz.
9:46 AM - Most Asian markets are trading strong. Japan's Nikkei is up over 2%, Hong Kong's Hang Seng is up almost 2%, Straits is up over 1.8% and Korea's Kospi is up over 1%. But the Chinese market is trading slightly lower; the country's GDP number that came out yesterday indicates there is a slowdown in growth.
9:43 AM - The market may see a gap up opening due to positive global cues and on the news that good monsoons are expected this year, says DD Sharma of Anand Rathi Securities, on CNBC Awaaz. But it may see some selling pressure at higher levels, he adds.
9:36 AM - Global cues look favourable now and possibly 5000 will be broken now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. Since the trend is expected to be up, traders can now buy at every breakout as well as corrective phases, he suggests.
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