Market News Highlights

• After lossing 437 points on last monday, Sensex opened 87 point down and made a low of 14527. But after 30 minutes trading, Market started showing some positive move and in mid session it was trading with 400 point gains. Reality, Metal and IT indexes were the major market driven. Finally Sensex closed above the psychological 15,000-point mark with 461 points gains at 15127 level. Nifty was also trading above 4550 level and closed exactly at 4550.95 level. DLF, JPAssoc, Reliance Comm, L&T, Mahindra & Mahindra, TCS, Infosys, Tata Power and Tata steel were the major index gainers
• NTPC agrees to buy Natural Gas from Reliance Industries – BS
• Supreme Court appointed Special Investigation Team (SIT) chief R K Raghavan is in town to assess the progress made in the probe on the role of Chief Minister Narendra Modi in post-Godhra riots – BS
• India’s economy is even now capable of growing by 8-9 per cent – Prime Minister Manmohan Singh, India
• Come 2010 and companies will be able to use their own name in place of domain extensions such as .com, .org, or .net when Internet domains are liberalized – ET
• Tata Motors sold 11 million shares of Tata Steel to promoter company Tata Sons for Rs 456.78 crore. – BS
• Bharti Airtel adjudged best service provider in asia-pacific region by telecom research firm Frost and Sullivan – BS

Today’s Trading Calls

• As i have mentioned here on last monday not to do any panic selling in market. Market followed my suggestion and showed a great move of 461 point. Finally we are in positive move on weekly basis after washing out all losses of monday. Market is again above 15000 lvel and nifty trading above 4550 level. Next level to watch in nifty is 4640 in coming days. Market outlook is looking very positive especially after PM’s speech of attending growth rate of 8-9% in a year or 2.
• Nifty Levels: Support Level 4520, 4475, 4444 Resistance Level 4580, 4610, 4640
• Buy First Source: Target 28, 29.5 Short Target 34.5 Stop Loss 25
• Buy Surana Tele: CMP 33.80 Target 37, 38.5 Short Target 43 Stop Loss 29
• Buy JP Assoc: CMP 224 Target 230, 232 Stop Loss 219
• Buy JP Hydro: CMP 96.55 Target 103, 106 ( Don’t Sell this stock – IT’s a very good long term bet )
• Buy Amar Remedies: CMP 34.8 Target 36, 37.5 Stop Loss 32
• Buy IDFC: CMP 130.8 Target 135, 137, 138.5 Stop Loss 127
• Buy MIC Ltd.: CMP 41.85  Target 43, 43.5 Stop Loss 40
• Buy Aban Offshore: CMP 1145 Target 1185, 1198 Stop Loss 1124
• Buy Reliance Comm: CMP 332.7 Target 340, 349 Stop Loss 327
• Buy ElectroSteel Casting: CMP 35.3 Target 36.5, 38 Stop Loss 34
• Buy TV18: CMP 144.9 Target 149, 153, 157 Stop Loss 139
  
• Past Trading Calls View Here

Mid-Session Updates

• Market opened with a huge buying interest following yesterday’s sensex gain. All asian markets were trading with 1-2% gain and we must see buying interest till mid session 1pm but then we may face some profit booking session in end. So day trader keep your eyes open before taking any long calls after 1pm.
• If you can hold then dont sell First Source now as we may see some good news coming into market in a month. (Target 39 in short term)
• TV18: All target achieved. I gave you call to buy it on monday. if you have bought it on monday you are having 10% gain into you bank account.
• Crude oil again on fire with 1% gain in international market with closing on $70/barrel. We may see good upside move in Oil stocks
• Nifty trading above 4640 level and it should close above 4640 level to achieve bull run rally till 4760, 4810 levels.
• Mid cap and small cap indexes are under selling pressure but index stocks are trading great. But we may see buying interest in small and mid cap in next 2 days.
• Buy HOEC for 10-15% target in short term
• Nifty closed above 4650 level but sensex was below 15500 level. So flat signal for tomorrow. We may see good rally in small and mid cap tomorrow.