Today Trading Tips, Stock Market News Updates – June 17
Posted by Stock Market Guru on 16 June, 2009
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Stock Market News Highlights – 17 June 2009
- On 15 june we have seen huge selling pressure all over the world and global markets were down by 2-3% including Dow Jones and Sensex. Crude Oil price was came down to $70 a barrel which help to pull down Oil and Gas index to 6% down. But Yesterday Indian Markets were opened with a loss of 200 points following losses of US markets and all asian markets.But after mid session we have seen some good buying interest from FIIs and they help indexes to go in GREEN and trade with flat mode atleast for 2 hours. In closing session, Indexes went up with heavy buying to 50 point gains in sensex and nifty crossed 4500 mark and was trading above strong resistance level of 4520. But in end, Nifty closed below 4520 leve at 4517 and Sensex with 82 points gain at 14957 slightly below 15000 mark. Bankex were the major gainer in indian stock market with SBI gained almost 5% in closing bell which helped market to end in green after black monday
- After losing almost 2.5 dollar in last 2 days, Crude oil has managed to go in GREEN mode to gain 2% in commodity trading indexex which helped Esar Oil, Aban Offshore, Gail, Cairn india to recover and gain 5% in closing session of todays indian market. Crude oil was closed at 71.55 dollars a barrel.
- Private refiner Essar Oil hiked prices of petrol and diesel by Rs 1-2.50 a litre and Rs 1-2 a litre respectively as international crude oil prices has risen to a seven-month high of $71 a barrel -BS
- Unitech Ltd, Second-largest developer, is seeing home sales going up and is not under pressure for cash after raising about $550 million in the past 2-½ months – MD, Unitech, BS
- The Reserve Bank of India (RBI) warned foreign investors (FIIs) not to purchase shares of Bajaj Auto through stock exchanges any further as it has reached its threshold limit of 24 per cent of the total paid-up capital of the company – BS
- Power Grid Corporation of India reported a rise of 16.71 per cent in its net profit of Rs 1,690.61 crore for the year-ended March 31, 2009, over the same period last year – BS
- Titan Industries, which sells jewellery and watch among others, has set a goal of crossing the $1 billion-mark turnover in the current fiscal – BS
- Market Today’s Pre-opening Outlook: All global markets were closed with good gains yesterday and indian markets were also closed with buying interest. Crud oil is also again closed with 7 months high. Today we may see good openings and we may cross 4600 levels in nifty but 4550 will be the major resistance. Lets hope for the best.
- Nifty Levels: Support Level 4464, 4430, 4370 Resistance Level 4520, 4550, 4580
- Buy Yes Bank: CMP 136 Target 139, 142, 143 Stop Loss 132
- Buy IDFC: CMP 143 Target 146, 149, 150.6 Stop Loss 141
- Buy IDBI: CMP 111 Target 116, 119 Stop Loss 107
- Buy Texmacho: CMP 109.5 Target 112, 113.9 Stop Loss 106
- Buy Kalindee Rail: CMP 184.6 Target 189, 192, 196 Stop Loss 179
- Buy JP Hydro: CMP 93.15 Target 96, 98 Stop Loss 91
- Buy TV18: CMP 133 Target 138, 140 Stop Loss 130
- Buy Aban Offshore: CMP 1007 Target 1040, 1057, 1070 Stop Loss 990
- Buy FirstSource: CMP 27.65 Target 28.4, 29 Stop Loss 27
- Buy Welspun Gujarat: CMP 218 Target 225, 229 Stop Loss 215
- Buy Unitech: CMP 88.2 Target 91, 93, 97 Stop Loss 85
- Buy IVRCL Infra: Not Intraday. Buy it and hold it for 1 month.
- Buy Titan Indu.: CMP 1179 Target 1200, 1223 Stop Loss 1165
- Sell HPCL and IOCL
- Past Trading Calls View Here
Mid-Session Updates
- Jayshree Tea: Target achieved 200. 21% in a 3 days
- Buy Jindal Power: Target 2680, 2730 SL 2460
- Buy Dena bank: 3 Days target 65.5
- Buy Zandu Pharma: Target 8100
- I am expecting positive closing today and nifty should close above 4520 mark today to have closing above 4650 on expiry
- Buy Nifty Future at 4480-4490 for Target 4510, 4540 Stop Loss 4460
- MArket touched 4500 mark.
- Nifty above 4510 -first target achieved
- Nifty is facing strong hurdle at 4520. Its not going above that level easily.
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