Stock Market News Highlights – 23 June 2009

• Last week of expiry of June 2009, we have expected higher openings and markets were opened with pullback rally after 3 days selling pressure. All tips given yesterday were achieved in 1 hour trading but after 1.5 hours of trading market started selling pressure though all Asian markets were trading with 1-2% gains. after mid-session trading, EU were opened very weak and that help indian stock markets wot go in dip red. After losing all morning gain, Indian stock market benchmark SENSEX closed with 195 losses at 14250 and Nifty ( NSE ) below 4250 strong support level at 4235. DOW and NASDAQ opened with 1.5% losses yesterday
• Crude Oil was trading very weak at $67.5 with %1.59 and 2.29% loss – Bloomberg.com
• On bombay stock exchange ( BSE ), Foreign institutional investors (FIIs) were net sellers of Rs 300.29 crore and Domestic institutional investors (DIIs) were net buyers of Rs 413.74 crore (provisional) yesterday – BSE
• The world economy will face a crisis in the next two years even bigger than the downturn currently buffeting the global financial system. share markets were likely to continue to gain in the next few months but would fall again towards the end of the year as the global banking system suffered another meltdown, bottoming out in 2011. – Harry S. Dent. Read more => http://economictimes.indiatimes.com/articleshow/4687348.cms
• Siemens bagged a order from Vedanta Aluminium (VAL) to provide high voltage power distribution systems for the second phase of expansion of their Orissa plant – UTVi
• Government thinking to hike petrol price by Rs. 2/litre and diesel by Rs. 1/litre – Oil Ministry, CNBC Awaaz
• Pipe manufacturer Jindal Saw received Letter of Intent (LOI) for orders worth Rs 1,000 crore for supplying pipes in both domestic as well as international markets – BS
• Reliance Industries signed gas sale agreements with steel makers including Essar Steel and Ispat Industries for supplying 3.75 mmcmd of natural gas from its offshore Krishna Godavari-D6 basin – BS
• Max India has raised Rs 150 crore through issue of shares to the World Bank group member International Finance Corporation (IFC) – BS
• NTPC has acquired 44.6% of the paid-up capital of Transformers and Electricals Kerala Ltd (TELK) from the Government of Kerala at a total value of Rs 31.34 crore – BSE
• Air India is planning to reduce expenditure on employees by Rs 500 crore per annum – ET
• Gujarat Industries Power Company Ltd. ( GIPCL ) board has recommended dividend at the rate of Rs 2.20 per share (22%) for the financial year 2008-09 – BSE
• India’s real GDP growth will average at 7.2% over the next five years even as risks to the global economy continue to remain high – Economist Intelligence Unit (EIU), ET
• LIC Housing Finance is in process of selecting a partner for its Rs 500-crore real estate venture capital fund which it plans to launch by end-September – R R Nair, BS
• The domestic mining space has the potential to attract $5 billion foreign investment – BS
• Maruti Suzuki will roll out CNG variants of the entire range of its cars from early 2010, the first of which could be its highest selling model Alto – BS
• Apple Inc sold more than 1 million iPhone , the 3GS, in first 3 days of launch – BS

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: EU markets trading with 1-2.5% losses on global negative cues and crude oil marches towards $55. As F&O expiry is coming near and Nifty calculation is going to change from 26th june 2009 onwards, which will be on weightage of floating stocks, market may face some selling pressure following yesterday bearish rally. But as nifty is still above 4215 level which will work as a trigger point. Below 4215 we may see 4100 level on expiry basis. But today we may get buying interest coming in again after mid day sessions as we have seen selling interest of FIIs is coming down yesterday.
• On Bombay stock exchange ( BSE ), Foreign institutional investors (FIIs) were net sellers of Rs 300.29 crore and Domestic institutional investors (DIIs) were net buyers of Rs 413.74 crore (provisional) yesterday – BSE
• Nifty Levels: Current: 4235 Support Level 4215, 4165, 4105  Resistance Level 4260, 4320, 4380
• Since last 3 days i am advising you guys to exit Crude oil related stocks as Oil price is coming down very rapidly. Exit Aban Offshore, Gulf Oil, MRPL
• Cement Sector has started some buying interest yesterday. Today also some companies may continue gains.
• Sell MRPL: CMP 87.1 Target 85, 83.6 Short Target 80 Stop Loss 88.5
• Sell Aban Offshore: CMP 883 Target 849, 835 Short Target 810 Stop Loss 910
• Sell Steel Stocks (Tata Steel, JSW Steel and Bhusan Steel) and Auto Stocks (Tata Motors)
  
• Buy Jindal Saw: CMP 383 Target 395, 401 Stop Loss 368
• Buy Gujarat NRE Coke: CMP 47 Long Target 76 Stop Loss 38 (Target for 4 months)
• Buy Kalindee Rail Nigam: CMP 196.2 Target 203, 207 Stop Loss 188
• Buy Texmacho Ltd: CMP 109.9 Target 114 Short Target 126 Stop Loss 104
• Buy HPCL: CMP 303 Target 309, 314 Short Target 320 Stop Loss 296
• Buy IOCL: CMP 538 Target 552, 564 Stop Loss 524
• Buy Bharti Airtel: CMP 790 Target 816, 835 Stop Loss 775
• Buy Siemens: CMP 459 Target 460, 474, 486 Stop Loss 446
• Buy NMDC: CMP 347 Target 358, 365, 373 Stop Loss 338
• Buy Gruh Finanace: CMP 206 Target 210, 214, 216 Stop Loss 201
• Buy BEML: CMP 909 Target 921, 935, 942 Stop Loss 889
• Market should open with negative gap of 40 to 50 points and then may go much deep but after mid-session start buying good stocks as market has corrected more than 15% (15600 to 14250) in 1 week. We may see some buying interest and indexes may go up by 1-1.5% in closing session.
• Past Trading Calls View Here

Mid-Session Updates

• As expected markets were opened very weak due to global weakness and world bank statement about global growth rate.
• But read my lines: I told you that market will recover sharply after mid session and we may see GREEN closing today
• Told you yesterday to Buy Reliance and see in this bear run Reliance is trading in GREEN
• Buy Brokerage House Shares on Dips ( India Infoline, Motilal Oswal, Geojit Finance, IL&FS)
• Buy Bank Shares on Dips
• Avoid Metal Stocks due to global condition we may see some selling pressure in it
• Buy IDFC for target 135, 138 in Short Term
• 10:35 AM: Nifty crossed 4200 level once again for 4250 level run
• Buy Praj Indus: Between 92-93 Short Term Target 102, 104 Stop Loss 90
• World bank downgraded the prospects of an immediate or even near term recovery. There are now renewed concerns of a deeper recession, so at least short term Crude Oil trades lower, may also go to $60 levels. No recovery in U.S Markets expected till Q3 ( Oct-Dec) 2009. So dont jump and buy Oil related stocks and also avoid Metal stocks. Bank stocks look safer as well as Agri stocks like Tea, Sugar, Fertilisers
• RIL is trading with 2.5% gain in bear market also.
• Monsoon started in Mumbai since yesterday night
• See Nifty levels guys: As i told you that we will have a good buying interest coming in and nifty will cross 4220 level soon. Ready for 4250, 4280 and 4320 levels in nifty
• Buy Texmacho: Above 109  short term target 123 SL 101
• Nifty trading in GREEN Cheers Guys. Who had shorted are crying frnds
• Market is trading flat with -5 to +5 points.
• Buy JP Assoc: Target 205
• Buy Biocon: Target 209, 211
• Buy TV18: Target 127, 131 SL 119
• Kalindee Rail and Texmacho on Upper Ckt
• Market is trading flat and shud close at 4230-4240 level above 4215 to have 1% up opening tomorrow.
• Market ended flat with 5-7 point loss but still above 4215 level. Tomorrow GREEN GREEN opening like raining in mumbai. See you all guys tomorrow morning !!!