Stock Market News Highlights – 16 June 2009

• On 15 june 2009, Sensex opened with 42 points losses and then was moved in positive zone but after Bombay High Court’s verdict on RIL-RNRL gas disputes sensex slipped in dark red with 300 points down. Reliance Indistries was trading 7-8% down at 2170 level and it alone was dragging market sentiments down. Finally Sensex closed below 15000 mark 14875 and nifty was closed below 4500 mark at 4484 level. Oil gas index on bombay stock exchage(BSE) was closed with loss of 4.5% and all Metal, Capitals Good, Bank were down by almost 1-3%. Sterlite and RIL were the major loser on BSE Index whereas Reliance Infra, Ranbaxy, HUL, ACC and Grasim were up 1-2% on SENSEX
• Crude Oil slipped by 2% in foreign Trade to close at $70.2 perr barrel. We may see some profit booking in Oil Producing Companies but Oil Marketing companies may see some buying interest like HPCL, IOL
• All EU markets were closed with a losses of more than 3% and US markets opened negative as DOW Jones trading with 207 point losses and Nasdaq was trading with 53 point losses
• India’s gems and jewellery exports dropped by a sharp 24 per cent to $1.5 billion in May 2009 over the year ago month mainly on account of slump in demand in its major markets like the US and Europe – BS
• LIC Housing Finance sold 18.3 per cent of stake in LIC Mutual Fund to Japanese Financial services company, Nomura, at Rs. 138 Crore – BS
• Power Finance Corporation consolidated net profit for the year ended March 31, 2009, rose by 64 per cent to Rs 1,979.69, over the same period last year – BS
• India’s gold imports stood at about 18 tonnes in May, nearly two tonnes less than that in April, on account of high prices and low demand in domestic markets – BS
• Indian economy would grow by 6.6 per cent in the current fiscal on the back of strong domestic market and it likely to come back at 9% in 2011 when impact of poor exports will end – Centre For Monitoring Indian Economy ( CMIE), BS
• Bajaj Allianz Life Insurance has launched Invest Plus, which offers upfront minimum guaranteed investment returns at the beginning of each year – BS
• Deep Industries has bagged two contracts worth Rs 72 crore from Oil and Natural Gas Corporation (ONGC) for hiring natural gas compressors to the company
• Indian Drug maker Dr Reddy’s Laboratories announced a strategic partnership with GlaxoSmithKline Plc (GSK) to develop and market select products across emerging markets outside India – BS
• Sebi freed brokerage firm India Infoline from charges of facilitating fictitious trading in the shares of GHCL, but reprimanded it for “lack of promptness” in cooperating in the probe – BS
• Ansal Properties & Infrastructure is planning to raise funds up to Rs 1,500 crore through the issue of securities on a private placement basis to qualified institutional buyers (QIPs) – BS

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: Global markets are trading with averagely 2-3% losses including US dow and nasdaq. Oil prices are expected to come down to 68 per barrel and Metal demands are falling so Oil and Metal are putting pressure on stock market which will drag market down. But until 4450 level, I am bullish on indian stock market atleast before budget. So carefully trade with me and keep booking your prefit in regular interval. Don’t ignore any selling call but trade buy calls safely. Still 4650 level is achievable soon.
• Nifty Levels: Support Level 4464, 4430, 4370  Resistance Level 4520, 4550, 4680
• Buy PFC: CMP 194.4 Target 200, 203 Short Target 210 Stop Loss 190
• Buy Dr. Reddy: CMP 705 Target 720, 728 Stop Loss 698
• Buy India Infoline: CMP 123.4 Target 128, 131, 134 Stop Loss 118
• Buy Ansal Prop. & Infrastructure: CMP 60.35 Target 62, 63.2 Short Target 65 Stop Loss 58
• Sell Hinduja Foundries: CMP 77.5 Target 75, 74 Stop Loss 78.9
• Sell Aban Offshore: CMP 958 Target 925, 908 Stop Loss 975
• Sell Essar Oil: CMP 158 Target 153, 150 Stop Loss 161
• Buy HPCL: CMP 314 Target 319, 326 Stop Loss 309
• Buy Kalindee Rail: CMP 178 Target 182, 185 Short Target 210 (1 Month)Stop Loss 175
• Buy Welspun Gujarat: CMP 211.4 Target 220, 224 Stop Loss 204
• Buy Surane Telecom: CMP 29.4 Target 31, 32.2 Stop Loss 28.7
• Past Trading Calls View Here

Mid-Session Updates

• As expected markets opened weak due to global negative cues but finally it manages to recover sharply and was trading in Green for some time. Now trading flat with negative bias.
• Exit all Aviation Stocks like Kingfisher, Spicejet, Jet Airways
• Market moved into GREEN with 50 oints gain and nifty trading above 4500 levels which giving sign of more positive moves
• Buy IVRCL Infra: Target 350 in short term
• 1 PM: Market again going towards RED area. I am expecting Market to close flat for Positive tommorow opening.
• Risk Taking Investor: Buy Nifty 4600 June Call @ 71-75 For Target of 100-110
• See my yesterday buy JP hydro Call: Stock is trading  7% up today
• After 3 days losses, Crude oil is up by 0.2%
• If nifty is closing above 4520 today and then we will see 4580 and 4600 levels tomorrow
• Nifty June 4600 Call: Up 15% from 71
• BTST: Buy IDBI for 5% gain in tomorrow early trading