Stock Market News Highlights – 24 June 2009

• Due to heavily crashed global markets, indian markets opened with a gap of 170 point in sensex. For whole day indian stock market was trading very low and under selling pressure. All asian markets were trading low with almost 2-4% losses. In mid session trading, Sensex has made a low of 308 point and was about to touch 14000 strong support level but EU markets opened flat and traded in positive zone which helped indian market to go in GREEN and then indian market were trading in positive for last 1 hour. US dow jones and nasdaq futures also opened in minor GREEN move so in closing bell nifty found some buying interest before 2 days of expiry. Nifty has made to cross 4200 level mark once again. Finally sensex closed at 14324 and nifty closed with 11 point gain at 4247 level which is really positive signal for todays strong opening.
• After making low of $66.5 per barrel, Crude Oil was trading with some gain at $67.6 – Bloomberg.com
• BPO firm Firstsource Solutions and Idea Cellular signed a five-year, Rs 145 crore outsourcing agreement. FirstSource will provide a suite of customer management interaction services including customer service, billing, new product information and plan details related interaction services to Idea from its centre in Coimbatore – BS
• Kishore Biyani’s Pantaloon Retail India has posted over 14% growth in sales last month from its value, home and lifestyle retailing segments – BS
• Two-wheeler maker, Bajaj Auto launched an advanced version of its flagship bike Pulsar, priced at Rs 70,000 – BS
• NTPC will sign the gas purchase agreement with Reliance Industries (RIL) for its gas-based power plants other than the projects for expanding the Kawas and Gandhar units – BS
• C P Gurnani was appointed CEO of Mahindra Satyam ( Satyam Computer Services )and Sanjay Kalra was made CEO of Tech Mahindra. Besides, S Durga Shankar was appointed as the Chief Financial Officer (CFO) of Mahindra Satyam and Vineet Nayyar takes over as Executive Vice-Chairman for Tech Mahindra and Mahindra Satyam – BS
• Life Insurance Corporation of India (LIC) expects to pump in around Rs 40,000 crore in equities in 2009-10 – LIC Officials
• India has imposed up to 30 per cent duty on import of key aluminium products from China to protect the domestic industry against cheap shipments – BS

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: EU markets were trading 1% gains and giving positive signals for today’s bull run. But yesterday nifty was closed above 4215 level once again and Reliance, ONGC and SBI are major market puller we may see nifty opening with a gain of 30 to 40 point and may trade above 4300 level in first 1 hours trade. Above 4320 level nifty could go 4350 level on an intraday basis. But keep stop loss at 4215 level as we may see some selling pressure below that level. So start your day with positive mood to go long but keep SL. Today we may see buying interest coming in Bank, Metal and Oil Stocks again !!!
• On 23 June 2009, Foreign institutional investors (FIIs) were net sellers of Rs 654.97 crore (provisional) and Domestic institutional investors (DIIs) were net buyers of Rs 318.42 crore on Bombay Stock Exchange (BSE)
• Nifty Levels: Current: 4247 Support Level 4215, 4165, 4105  Resistance Level 4260, 4320, 4350
• Yesterday’s call performance: 92.6% accuracy in volatile market also with Texmacho, Kalindee Rail traded with upper ckt.
• Yesterday’s Closing Session Buy Calls: Praj Industries, JP Assoc, Biocon, TV18, Texmacho and Brokerage House Stocks like India Infoline, Geojit Finanace, IL&FS Investments
• Keep accumulating Infrastructure (GMR Infra, IRB, IVRCL) and Bank stocks on dips
• Buy FirstSource Soln: CMP 24.5 Target 25.5, 26.3 Short Term Target 28.5 Stop Loss 23.6
• Buy Yes Bank: CMP 139 Target 143, 145.5 Stop Loss 136
• Buy RIL: CMP 2002 Target 2110 Short Term Target 2154 Stop Loss 1930
• Buy National Aluminium Company (NALCO): CMP 313.7 Target 325, 328 Stop Loss 306
• Buy Pantaloons: CMP 305 Target 310, 316, 321 Stop Loss 301
• Buy Dena Bank: CMP 54.5 Target 56, 57.2 Stop Loss 53.8
• Buy GMR Infra: CMP 138 Target 142, 144 Stop Loss 135
• Buy IDFC: CMP 136 Target 139, 141, 142.2 Short Term Target 148 Stop Loss 133
• Buy India Infoline: CMP 120 Target 124, 127 Stop Loss 116
• Buy JP Hydro: CMP 85 Target 88, 91 Stop Loss 83
• Buy Suzlon: CMP 106.9 Target 108.6, 110, 112 Stop Loss 104
• High Risk Traders: Buy steel stocks ( JSW Steel, Tata Steel, SAIL Ispat and Bhusan Steel) and Sesa Goa for  4-7% intraday gain if market is trading in GREEN zone
• Accumulates Sesa Goa, NMDC and GMDC on every 5% dips (For 2 year Target)
• Past Trading Calls View Here

Mid-Session Updates

• Buy Sesa goa: Between 182-184 Target 188, 191 Stop Loss 179.8 ( Sesa Goa on Fire – trading at 186.5)
  
• Buy Suzlon: above  110 Target 112.5, 113 Stop Loss 109 (Target Achieved)
  
• Buy Yes Bank: Above 139 Target 142, 143.5 SL 138 (Target Achieved)
  
• Buy Welspun Guj: Between 195-197 Target 199, 200 Stop Loss 193 (Target Achieved)
  
• Buy Opto Ckt: Above 155 Target 158, 161 Stop Loss 153
• Hold Yes Bank with Target of 163 (No Stop Loss)
• Buy/Hold IDBI: Above 107 Target 129 Stop Loss 103 (Short Term Call)
• All Brokerage House stocks are rocking – I mentioned to buy it yesterday.
• All EU markets opened with positive biased trading and Dow Jones and Nasdaq futures are opened positive and that drag Indian market to trade above 4300 nifty
• TTML to launch per Second cal rate ( 1 paise per second) Stock trading with 9% gains on SENSEX
• Income Tax department raid on Austria Coke all offices