Stock Market & Business News Highlights – 15 July 2009

• On 14th July 2009, US market and EU markets were trading very high as Goldman Sachs rating got changed to buy after long time. Following that all Asian markets were closed higher with a gains of 2-3% and indian market followed all global markets opened with 250 points positive gap and nifty was trading flat above 4050 level. But All EU markets opened with a 1-2% positive gap so which helped indian stock market to to go more high and finally nifty crossed 4110 mark and closed at 4111 level with 3.46% gains and BSE benchmark sensex closed at 13850 with 453 points gains. BSE Reality index was major gainer with a 9% gain followed by Metal (5%), Consumer Durable (5%), Power and Capital Good (4.5%) but FMCG index was a only loser.
• UK`s benchmark FTSE 100, French benchmark index CAC and Germany`s benchmark index DAX were opened with gains of 1-2% and were trading flat at 1.5% gain through out a day. U.S. Dow Jones and Nasdaq were also opened in flat with positive bias as goldman sachs reported huge profit but after 2 hours of trading market witnessed some selling pressure and then all US markets trading flat with negative bias – Bloomerg.com
• Crude Oil has witnessed minor buying interest to trade with 0.6 gains to trade at $60.8 above $60 level – Bloomerg.com, Yahoo Finance
• Tata Group company Rallis India posted net profit for the first quarter of FY10 jumped two fold to Rs 9.42 crore – Business Standards
• Investment banking major Goldman Sachs reported huge profit of $3.44 billion for the second quarter ended June, bolstered by stellar performance in trading operations. Goldman Sachs’ profit surged 65 per cent to $3.44 billion for the three months ended June 26, 2009. In the year-ago period, the entity had a profit of $2.09 billion. – BS

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: As expected indian market opened above 4040 levels and traded above that level for 3 hours but positive sentiments from EU market pushed indian market to gain more than 3%. But nifty closed above its major resistance level 4110. Today we may see indian market opening in green with 20 to 25 points gain in nifty but nifty will face major resistance at 4150 level and after mid session i am expecting profit booking session which may drag nifty to 4110 level or 4080 level to close flat or negative.
• Nifty Levels: Current: 4111 Support Level 4110, 4080, 4040 Resistance Level 4150, 4220, 4260
• Buy Take Solutions: Target 30.5, 31.4, 31.8 Stop Loss 29
• Buy OnMobile: Target 466, 471 Stop Loss 444
• Buy Rallis India: Target 685, 699 Stop Loss 660
• Buy JP Hydro: Target 74, 76 Stop Loss 69 (Book Profit above 78)
• Sell Texmacho: Target 87, 85 Short Term Target 75 Stop Loss 98
• Buy Jubilant Organosys: Target 172, 174 Stop Loss 162
• Buy Kavveri Telecom Products: Target 41, 41.6 Stop Loss 39
• Sell Aban Offshore: Short Term Target 600 Stop Loss 820 ( Not intraday call)
• Book Profit in Metal and Reality Stocks on rise ( We will see deep rates to buy it again )
• Past Trading Calls View Here

Mid-Session Updates