Stock Market & Business News Highlights – 27 July 2009

• On 24nd July 2009, Following all Asian markets, Indian stock market nifty opened above 4550 levels as expected. But it had a very strong resistance at 4580 levels and it was not able to trade above that levels easily. Market tanked in mid session to trade flat at 4530-4550 levels. But EU markets and US Futures opened with positive gap and that helped indian markets to go above 4560 again and nifty touched 4580 levels again. But in last 30 minutes market saw some flat trade and finally nifty closed at 4568 with 0.8% gains and stock  market benchmark BSE sensex closed at 15379 with 148 points (1% gains).
• After heavy loss of $4 in lat 2 days, Crude Oil managed to stay tuned in positive direction. Today it has opened positive and finally closed with 1.5% gains to trade at $68.2 per barrel – Bloomerg.com, Yahoo Finance
• Godrej Consumer Products reported a 78% increase in net profit at Rs 69.60 crore for the first quarter ended June 30, 2009 when compared with Rs 39.10 crore in Q1FY09. – UTVi
• Net profit of Shree Cement rose 162.52% to Rs 291.13 crore in the quarter ended June 2009 as against Rs 110.90 crore during the previous quarter ended June 2008. – UTVi
• Godrej Consumer Products is looking to acquire control of its FMCG joint venture with US-based Sara Lee Corp that manufactures insect repellents, among other things – Business Standards
• Andhra Bank’s net profit was up 229.81% from Rs 77.62 crore to Rs 256 crore – Indiaearnings.com
• With inflation at subzero level, the Reserve Bank is unlikely to effect any cut in key short- term lending and borrowing rates and cash reserve ratio in the quarterly review of the annual monetary policy – DNA India

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: As expected nifty opened above 4550 levels and was trading in exact range of 4530 to 4580 levels. Nifty has found very strong resistance 4580 level. All US and EU markets were closed flat on last trading days. RIL has come out with below expectation results. So we may see nifty opening flat or below 4550 levels. See market move and can go short with 4580 levels at SL.Nifty should close above 4650 levels on 2 conscutive days to open chances for 4800, 5000 levels. 4440 levels in nifty is very important and nifty should not close below that level anyday. Closing below that will open gates for 4350-4250 levels for expiry day. Be careful as this is a expiry day week for July, We may see little more volatility in market. 4580 and 4440 levels will decide next day market moves with global market move taking into considerations.
• Note: Please below 4440 level book your profits in PSU, Reality, IT, Banks, Metals. Can buy FMCG, Pharma. Don’t hold Welspun Gujarat, DLF, Sesa Goa, SAIL, Tata Steel if nifty is closing below 4440
• Nifty Levels: Current: 4568.5 Support Level 4550, 4520, 4480 Resistance Level  4595, 4650, 4730
• Buy Godrej Consumer: CMP 205 Target 210, 212.5, 214 Stop Loss 201
• Buy Shree Cement Ltd.: CMP 1449 Target 1480, 1520 Stop Loss 1420
• Buy Geometric Ltd: CMP 33.85 Target 35, 35.5 Short Term 37 Stop Loss 32.95
• Buy Bluestar Infotech: CMP 82.75 Short Term Target 88 Stop Loss 81 (2 to 3 days target)
• Buy Hanung Toys: CMP 72.5 Target 75 Short Term Target 77, 79 Stop Loss 70
• Buy Warren Tea: CMP 129.8 Target 133, 135, 136.5 Stop Loss 127
• Buy JPAssoc: CMP 241 Target 248, 252 Short Term Target: 265 Stop Loss 235 ( Follow strict SL )
• Buy California Software: CMP 23.95 Target 25, 26 Short Term Target 28 Stop Loss 22.85
• Buy Andhra Bank: CMP 89 Target 93, 95 Stop Loss 86 (Follow Strict SL)
• Risk Takers: Buy Edelwise Capitals For Target of 440, 452
  
• Book Profit in Texmacho: Target 93, 89 SL 113
• Book Profit in RIL: Target 1650 SL 2300 ( 3 months target)
• Book Prfoit in Dena Bank
  
• Past Trading Calls View Here

Mid-Session Updates