Stock Market & Business News Highlights – 16 July 2009

• On 15th July 2009, Following all Asian markets, Which were trading higher with a gains of 2-3% , indian market opened with 30-40 points gains and nifty was trading above 4150 level for 2 to 3 hours and nifty found strong resistance at 4150. But after opening of EU markets with 1-2% gains, Indian market surged to days high and sensex was trading above 14000 level and nifty was above 4200 levels. After showing good buying interest finally BSE closed at 14253 with 400 points gains and nifty closed at 4233 with 122 points gain. The BSE Realty index gained 8.5% followed by Metal, Consumer Durables, Power and the PSU indices increased nearly 5% each.
• UK`s benchmark FTSE 100, French benchmark index CAC and Germany`s benchmark index DAX were opened with gains of 1% but after opening of US markets all EU markets went in days high with gain of 2-3% gains. U.S. Dow Jones and Nasdaq were also opened with clear positive biased and DOW jones was trading wth 2% gains and NASDAQ and S&P 500 index are trading with 3% gains – Bloomerg.com
• After many weeks, Crude Oilhas shown some buying interst due to economic recovery sign and was trading with 2.5% gain above $60 at $60.8 per barrel – Bloomerg.com, Yahoo Finance
• The Finance Ministry annouced that customs duty collections at about Rs 18,000 crore in the first quarter of this fiscal and initial reports on steel and cement sectors point to a recovery in industry that would also benefit from tax cuts announced as part of stimulus packages – Business Standards
• Indian Oil, Bharat Petroleum and Hindustan Petroleum had in the past two months raised ATF rates four times on firming international oil prices. But now due to ease in internation crude price, They have reduced ATF price by 5.6% – BS
• SpiceJet is preparing to buying JetLite Airways – CNBC Aawaz
• Suzlon Energy’s German unit, REpower Systems,had won an order to supply 30 turbines with total output of 150 megawatts to a subsidiary of Vattenfall AB. – UTVi
• Anil Ambani began discussions with directors Steven Spielberg and Stacey Snider for producing films for which he would make available an initial funding of $825 million. He may come out with Reliance Entertainment IPO in some time. Industrialist Anil Ambani hinted at listing his group’s media and entertainment business Reliance Entertainment, which has entered into a partnership with Hollywood studio DreamWorks for film production. – UTVi

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: As expected indian market opened exactly with 30 points gains in nifty and nifty was trading above 4150 which helped nifty to cross 4200 and 4220 major resistance levels in a hour trading time. All US and EU markets are trading with 2-3% gains. So today can be the day with 2-3% gains in nifty and sensex. Sensex may cross 14500 mark and nifty may cross 4340 levels. But nifty will find major resistnace at 4260 level if opened below that level. I am expecting nifty opening above 4260 level for next run of 4340. If 4390 level is broken then market will open gates for 4650 levels. But keep 4220 as strong support level. Market should not go below that level in any case.
• Nifty Levels: Current: 4233 Support Level 4220, 4150, 4110 Resistance Level  4260, 4340, 4390
• Buy Spicejet: Target 9%(20) Short Term Target: 25% (23.5) upside Stop Loss 17.9
• Buy Kingfisher Airline: Target 46, 47.8 Stop Loss 43
• Buy South Indian Bank: Target 102, 104 Stop Loss 96
• Buy Suzlon: Target 100, 103 Stop Loss 90
• Buy PFC: Target 230, 233 Stop Loss 222
• Buy Adlabs: Target 307, 315, 321 Stop Loss 285
• Buy Siemens: Target 440, 449, 452 Stop Loss 418
• Buy Venus Remedies: Target 226, 234, 241 Stop Loss 212
• Risk Taking Investor: Buy Bhushan Steel, CMC, RNRL, Opto Ckt for 10-15% intraday gain. RNRL may gain 10-12% today
• Past Trading Calls View Here

Mid-Session Updates