Stock Market & Business News Highlights – 28 July 2009

• On 27nd July 2009, Indian market opened flat following all asian markets but it couldn’t be able to stay above 4580 levels and had seen strong selling pressure in mid session and which had dragged market below 4520 levels and sensex was 120 points down from yesterday low. But finally EU markets opened flat with some positive biased nature which helped indian market to recover sharply and was closed flat. Reliance industries dragged 4.5% on very bad result of Q1 ended in june 2009 but Hindustan Uni lever and DLF was trading with more than 5% gains which helped and wiped out RIL losses and kept market in flat.
• Crude Oil managed to stay tuned in positive direction. Today it has opened positive and finally closed with minor gain to trade at $68.2 per barrel – Bloomerg.com, Yahoo Finance
• Infrastructure developer Subhash Projects and Marketing Ltd (SPML) has bagged three orders worth Rs 151.80 crore from different government agencies for construction-related projects. – The Hindu Business Line
• Castrol India, which produces and markets motor oil and lubricants, reported net profit rose by 56.58 per cent to Rs 128.4 crore for the second quarter ended June 30, 2009, over the same period last year – Business Standards
• Net profit of Escorts rose 138.67% to Rs 22.22 crore in the quarter ended June 2009 as against Rs 9.31 crore during the previous quarter ended June 2008 – UTVi
• The farm sector output needs to grow by 4% annually for the economy to expand by 9% – Finance Minister Pranab Mukherjee, UTVi
• National Thermal Power Corporation (NTPC) posted a 27% increase in net profit at Rs 2,193.60 crore for the quarter ended June 30, 2009 when compared with Rs 1,726.53 crore in the corresponding quarter last year – UTVi, bseindia.com
• GAIL, the country’s largest gas marketing company would invest Rs 8,000 crore to expand its pipeline network. Of this, Rs 7,600 crore would be invested in constructing a 2,050 km pipeline from Jagdishpur to Haldia. – Chairmen U D Choubey, Business Standards
• Net profit of Finolex Industries rose 307.67% to Rs 47.86 crore in the quarter ended June 2009 as against Rs 11.74 crore during the previous quarter ended June 2008. – UTVi
• Bank of Baroda posted a net profit of Rs 685.38 crore for the first quarter ended June 30, 2009 as compared with Rs 370.86 crore shown during the same quarter previous fiscal. – The Hindu Business Line
• Net profit of Wanbury rose 562.94% to Rs 9.48 crore in the quarter ended June 2009 as against Rs 1.43 crore during the previous quarter ended June 2008. – UTVi

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: As expected nifty opened below 4550 levels and then it was trading flat for whole day with negative biased. Finally it has closed flat. All EU and US markets were trading flat with negative trading pattern. Today also market may open flat and will have strong support at 4550 and strong resistance at 4580. Means above 4580 you can go long for target 4650 and below 4550 take a short position for target 4440.
• Nifty Levels: Current: 4572 Support Level 4550, 4520, 4480 Resistance Level  4595, 4650, 4730
• Buy Escort Ltd.: CMP 67.5 Target 70, 71 Short Term Target 85 Stop Loss 62 ( Buy & Hold For Long Term 1 year Target of 106 Keep Stop Loss 55)
• Sell HT Media: CMP 112 Short Term Target 99 SL 115
• Buy Wanbury Ltd: CMP 62.4 Target 67, 69, 72 Short Term Target 80 Stop Loss 58
• Buy Tata Motors: CMP 374 Target 389, 395, 402 Stop Loss 364
• Buy Everron Systems: CMP 360 Target 375, 382 Stop Loss 354
• Buy GIC Housing: CMP 80 Target 84 Short Term Target 87, 89 Stop Loss 77
• Buy Jayshree Tea: Target 207 Stop Loss 196
• Buy Tide Water Oil: CMP 4105 Target 4300 Short Term Target 4550 Stop Loss 3980
• Buy Jyothi Lab: CMP 102.5 Target 105, 107 Short Term Target 119, 130 Stop Loss 97
• Buy Kavveri Telecom: Short Term Target 45 Stop Loss 38
• Buy n Hold Hexaware Tech: Target 20% from CMP
• Buy and Hold Syndicate Bank: Short Term Target 86, 89 Stop Loss 75
• Past Trading Calls View Here

Mid-Session Updates

• Buy Core Project: Target 131 Stop Loss 117 ( Short Term Call)
• Buy IBull Realestate: Target 255, 259 Stop Loss 236
• Exit Gammon India ( This is banned in Delhi project today)