Market News Highlights

• Following Losses in US stock markets, Indian and asian markets opened with negative biased nature. In midday session indian stock martek was trading with loss of 150 points. FII were still having buying interest in indian stock market but DIIs and HNIs had lost their interest and started offloading their stake. Confidense loss was a reason of expectation of budget, fiscal deficite and late starting of rain season. After heavy volatility through a day, Sensex closed in negative with a loss of 55 point at 15411 level and nifty with a loss of 17 point below 4640 level at 4637.
• Inflation in india for week ending at 30 may 2009 slips to over three-decade low of 0.13% – BS
• DS Kulkarni Developers and GTC Cyprus, a Kardan Group company, has signed an agreement to develop jointly a 250 acres multi-Service SEZ project in Pune through a 50:50 joint venture – BS
• On top executive of Satyam Computer is considering selling his shares in the open offer beginning tomorrow – BS
• We also need to focus on the introduction of GST (Goods and Service Tax) from April 1, 2010. This is a critical part of our economic reforms – Finance Minister Pranab Mukherjee
• The Japanese economy shrank at a staggering rate of 3.8% in the first quarter of 2009 – BS, ET
• Indian economy may grow at 7.2 this fiscal on the back of improvement in consumer sentiment, policy reforms and projected growth in agriculture and industrial sector -  Assocham said, BS
• The GSM-based mobile operators in the country added 8.3 million subscribers in May taking the total subscriber base to 306.4 million – BS
• Tech Mahindra’s open offer for acquiring 51% stake in Satyam Computer, which begins tomorrow, may not be fully subscribed as shareholders will get a better price in the market with the shares of the tainted IT firm soaring over 33 per cent in the past three days – BS
• Microsoft Corp is getting ready to unveil a long-anticipated free anti-virus service for personal computers that will compete with products sold by Symantec Corp and McAfee Inc. – Microsoft, ET
• Unveiling a 5-15-year roadmap to create a global leader in the branded beverages segment, Tata Tea CEO Peter Unsworth said that the company may look at partnerships and acquisitions for this purpose but as of now there is no proposal – BS
• Indian emerged as the third largest online payers in last quarter of 2008 – Visa, Electronic Payment company said
• The Reserve Bank of India (RBI) is faced with the dilemma of either supporting the recovery of the economy or containing the fear of inflation – Moody, BS
• A Delhi Court today sentenced fake stamp papers scam kingpin Abdul Karim Telgi to seven years rigorous imprisonment (RI) and imposed a total fine of Rs 1.3 crore in three separate cases. – BS

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: US market were opened with positive gain of 75 point and trading flat there. We mmay see some positive opening but profit booking will still stop sensex going above 15500 level and nifty 4664 level. But short term market looks flat but long term view is Bullish.
• Nifty Levels: Support Level 4610, 4550, 4510 Resistance Level 4640, 4664, 4680
• Buy IDFC: CMP 144.3 Target 149, 153 Stop Loss 141
• Buy DS Kulkarni: CMP 56.2 Target 59.8, 61  Stop Loss 53
• Buy Engineers India: CMP 878 Target 900, 915 Short Target 940 Stop Loss 855
• Buy Sesa Goa: CMP 192 Target 199, 203 Stop Loss 186
• Buy Biocon: CMP 220.35 Target 225, 229 Stop Loss 215
• Buy Opto Ckt: CMP 168 Target 171, 176 Stop Loss 163
• Buy Tulip ID: TArget 792, 808
• Sell Aban Offshore: CMP 1048 Target 1025, 980 Stop Loss 1065 (Remeber to buy it after 5-6% break for intraday gain)
• Sell Tech Mahindra:Stock will crash to 25% down price in coming month.
• Past Trading Calls View Here

Mid-Session Updates

• See Sesa Goa and Engineers India: Both are 10% up. My calls are rocking friends
• Market again in RED zone and today will be 150 point down closing
• Sell Aban Offshore: Target 1 Achieved and will see Target 2 also in an hours or 2
• Don’t enter into fresh buying before sensex touches 14000 level
• Sell HCC: Target 98,96
• Buy Jayshree Tea: Above 177 Target 196, 201 Stop Loss 172
• Sell Punj Llyod: Target 209, 201 Stop Loss 219
• Nifty gone below 4580 support level. Nifty should touch 4450 and SEnsex should touch 14500-14200 levels in next week before continuing its upward rally to 16000 and 4700