Stock Market News Highlights – 22 June 2009

• On last Friday, Indian stock market opened with a some positive gains after losing almost 800 points in lat 2 trading session. This gain helped retail investor to get confidence and start buying new positions with some positive movement hope. But in mid seession market went into negative level with lasst half wave of down turn and was trading below 4215 support level for 2 minutes and then saw some flat negative biased trading. But in lasst hours, Reality Metal and capital goods helped sensex to recover sharply to gain 256 point and finally sensex closed above 14500 mark at 14521 with 256 point gains anf nifty was closed at 4313, above 4300 level, with 62 points gain which triggered a hope of 4650 target in this month.
• Crude oil was closed at 69.55 dollars per barrel with a loss of 2.5% on Saturday – Bloomberg.com
• Gujarat State Petroleum Corporation (GSPC) plans to invest $1.7 billion in the development of its offshore Deendayal gas field in the Krishna-Godvari (K-G) basin off the coast of Andhra Pradesh in the Bay of Bengal – BS
• ABG Shipyard reported a 12.84% hike in profit after tax (PAT) at Rs 51.96 crore for the quarter ended March 31, 2009, over the same period last year – BS
• Mahindra Holidays and Resorts India Ltd (MHRIL) is coming up with Initial Public Offer (IPO) to raise resources to fund its existing and expansion projects in the country. The bid fixed price band between Rs 275 to Rs 325 per equity share will open on June 23 and close on June 26 – Arun Nanda, BS
• Even as the inflation fell to a three-decade low of minus 1.61 per cent, there is no threat of deflation as food and crude oil prices are still firm. India does not suffer from any demand constraints, therefore there is no concern of deflation – Reserve Bank Governor D Subbarao, BS
• European aviation company Airbus will deliver the first A320 airplane assembled at its factory in China on Tuesday – ET
• Investors need to follow basics to make the most. Read more on ET => Click Here
• Foreign institutional investors (FIIs) on Friday pulled out a net Rs 29 crore from the Indian stock markets , taking their total outflow during the week to nearly Rs 1,700 crore out of 32000 crore in flow from march 2009 – ET

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: EU markets and Asian markets were closed with good positive gains on last trading day. But US Dow Jones was down 15 point and Nasdaq was trading up with 1.04% gains. Crude oil was dropped significantly on saturday trading with Gold also losing its ground and made a loss of Rs. 100 on saturday. We may see positive to flat opening but we have to see asian market clues before taking any decision. and 4370 will be the majo resistance.
• If Nifty will close above 4347 level today then we may see 4440, 4520 level in nifty on expiry basis. No wonder if we see 150 point up jump in nifty in a day if global market will support.
• Nifty Levels: Support Level 4310, 4280, 4215  Resistance Level 4347, 4370, 4440
• Buy ABG Shipyard: CMP 202 Target 207, 211 Stop Loss 198.5
• Buy Ansal Properties: CMP 57.2 Target 59, 60 Stop Loss 55
• Buy GMR Infra: CMP 147 Target 150.5, 152 Stop Loss 144
• Buy IDFC: CMP 132 Target 135, 137 Stop Loss 129.5
• Buy Satyam: Target 6 to 10% gain in next 2 days.
• Exit Aban Offshore, Gulf Oil and Essar Oil – We may see some selling pressure
• Buy Sesa Goa: CMP 188 Target 193, 196 Stop Loss 185
• Buy Bajaj Hindustan: CMP 214.5 Target 218, 221 Stop Loss 209
• Buy Welspun Gujarat: CMP 199.1 Target 204.5, 207 Stop Loss 195
• Buy Dena Bank: CMP 52.4 Target 54, 55 Stop Loss 51
• Buy Suzlon: CMP 111 Target 114, 116 Stop Loss 107.8
• Past Trading Calls View Here

Mid-Session Updates

• Rakesh Jhunjhunwala predicted 6000 nifty levels in very short time
• Rain fall is predicted in next 3 to 4 days.
• Crude oil price is heavily crashed on international trade market so we may expect some losses in oil production companies like Aban, Essar, Gulf, ONGC. Oil prices could go below $60-$55 in short run on weak global demands
• Exit Bank Of India and RIL for short term
• Governement could remove STT from all stock market transactions on this budget day
• Sell Parsvnath developer: made losses 85%
• North korea ready to harm US if attacked – N. Korea, BS
• Satyam renamed as Mahindra Satyam – BS
• Buy Welspun gujarat: Target 209,211 (Tomorrow)
• Buy IDFC: Short Target 135, 139 (Tomorrow)
• Buy GMR Infra: Target 146, 149 (Tomorrow) Short Target 153 (Thursday)
• Buy Texmacho: Short Term Target 125 ( 2nd July)
• Reliance Industries is dragging market to new lowers but use that dips as a buying opportunity and accumulate RIL for long term gain. From tomorrow onwards, RIL will lead market towards 4450 level.
• Market loss again 2% or more and recorded very bad monday before expiry time.