Stock Market & Business News Highlights – 14 July 2009

• On 13th July 2009, All Asian markets were trading lower and indian market followed last friday trading losses and opened below 4000 level. Sensex was trading down with a loss of 250 point and nifty was trading below 3950 levels but after mid session market has witnessed some buying innterest again and market recovered sharply and nifty was trading at 3990 levels. After whole under pressure trading session, Indian stock market benchmark sensex closed with 103 points losses at 13400 and nifty with loss of 30 points at 3975. Metal and Sugar sectors were the major hit and IT sector helped market to trade flat.
• UK`s benchmark FTSE 100, French benchmark index CAC and Germany`s benchmark index DAX were opened with loss but after mid session they have gained 1.5%. U.S. Dow Jones and Nasdaq were also opened in GREEN with Positive buy rating of Goldman Sachs after last march. After 2 hours of trading all DOW, NASDAQ and S&P Index were trading 1.5-2% up – Bloomerg.com
• Crude Oil has witnessed minor buying interest to trade with 0.6 gains to trade at $60.2 above $60 level but after opening of US market crude oil started down trend to trade with 1.8% loss below $60 level at $58.7- Bloomerg.com, Yahoo Finance
• China will launch an attack on India before 2012. There are multiple reasons for a desperate Beijing to teach India the final lesson, thereby ensuring Chinese supremacy in Asia in this century. This attack will help them to divert the attention of its own people from “unprecedented” internal dissent, growing unemployment and financial problems that are threatening the hold of Communists in that country – Bharat Verma(Editor of the Indian Defence Review), ET
• Employees of IDBI Bank would go on strike on July 15 to press for higher salary package – BSE
• Gammon Infrastructure Projects reported a jump of over 75% in its net profit for the financial year ended March 31 to Rs 32.70 crore – Bombay Stock Exchange (BSE), Business Standars
• The Andhra Pradesh government has decided to invite fresh global bids for the Rs 12,200 crore Hyderabad Metro Rail Project that was taken away from Maytas Infra after funding related problems – ET
• Union Budget brought several sectors into action as government is going to encourage expenditure in them on long term basis. So Investor should monitor those sectors and most benefited stocks under that sector closely to gain more. Sectors are 1. Agriculture – Advanta, Rallis, Tata Chemicals, Chambal Fertilisers and Jain Irrigation, Aries Agro and Sabero Organics 2. FMCG – Hindustan Unilever, ITC, Nestle, Dabur, Eveready Industries, Emami, Jyothy Laboratories, K S Oils, Relaxo Footwear and Cera Sanitary 3. Auto – Tata Motors, Hero Honda, Maruti Suzuki and Mahindra & Mahindra 4. Power and Infrastructure – BHEL, L&T, Kalindee Rail Nirman, Patel Engineering, Cromption Greaves, KEC International, GAIL, BEML Ahluwalia Contracts, Subhash Projects, Pratibha Industries, Genus Power 5. Healthcare – Cipla, Glaxosmithkline Pharma, Piramal Heathcare, Cadila Heathcare and Indoco Remedies, Elder Pharma, Zydus Wellness. 6. Education – Educomp, NIIT, Navneet Publications, BILT, West Coast Paper, Core Projects 7. Metal and Cement – SAIL, JSW Steel, ACC, Ultratech, Shree Cement, Madras Cement, HSIL, Cera Sanitaryware, Nitco. 8. Telecom – Bharti Airtel, Reliance Communications, Idea Cellular and Nu Tek. Read more details on ET
• Gitanjali Gems Ltd has acquired 51% stake in Diamlink Inc. (Diamlink) New York based corporation – bseindia.com
• Motilal Oswal Financial Services reports 91% growth in net profit at Rs 36 crores for Q1 FY 2010 – bseindia.com

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: As expected indian stock markets opened with loss of 1% and nifty was trading below 3950 levels but after mid session trading market had recovered very sharply and closed with 0.5% loss but was closed above 3960 support level. We may see sensex opened with 50 points positive gap and we may see 4040 levels in nifty and if 4080 levels will cross then nifty may retest 4110 major resistance level again.
• Nifty Levels: Current: 3974 Support Level 3960, 3920, 3875 Resistance Level 3995, 4040, 4080
• Book Profit in MMTC, STC
• Sell Gammon India: Target  155, 146, 137 Stop Loss 169
• Sell Aban Offshore: Target 630, 620 Stop Loss 658
• Buy Gitanajli Jems: Buy above 92.5 Target 94, 96, 98.5 Stop Loss 89
• Buy Motilal Oswal: Buy above 143 Target 147, 149 Short Term Target 155, 157 Stop Loss 138
• Buy Webel Sl Energy Systems: Target 175, 182 Stop Loss 164
• Buy GMR Infra: Target 131, 135 Stop Loss 125
• Buy Titagruh Wagons: Buy above 302 Target 324, 337 Stop Loss 297
• RISK Buy JP Hydro, TV18 and Biocon India for Target 5-6% intraday gain
• Past Trading Calls View Here

Mid-Session Updates

• As expected market opened with a big positive gap and nifty is trading above 4040 level. But if it will stay above 4040 for next 30 to 40 mins then we may see nifty crossing 4080 levels but if its not trading above that level then we may see heavy profit booking which may drag nifty below 3950 levels.