Stock Market News Highlights – 26 June 2009

• Though warren buffet suggested that US economy will take time to recover from crisic and will go into much deeper recession in coming months, Indian stock market had shown some recovery following yesterday’s closing session gains. All asian markets were trading with big positive gap on map and that’s why indian markets were trading flat with 150 points gain in first hour trade in spite of expiry day. But EU markets opened weaker due to FOMC US economy statements with 2-3% losses but US futures were opened positive with 50 points gain. After mid session trading, Indian Sensex went down and started trading near 14400 level. In last hour trading after 2:30PM market got huge selling pressure especially from Oil and Gas, PSU and Consumer Goods Segments which dragged market to 100 points in RED. After heavy bear rally finally BSE benchmark SENSEX closed at 14345 with 77 points losses and NSE benchmark Nifty closed below 4260 strong resistance level at 4241 with 51 points losses.
• Crude Oil was trading with 1.05% gains at $69.5 yesterday – Bloomberg.com
• Inflation based on the wholesale price index (WPI) declined to -1.14% (provisional) for the week ended June 13 when compared with -1.61% (provisional) in the previous week ended June 6, and 11.80% during the corresponding week of the previous year. – UTVi
• Nandan Nilekani, co-chairman – Infosys Technologies, has been named chairman of Unique Identification Authority of India (UIDAI) by the central government. He will get the rank and privilges of a Cabinet Minister and has decided to resign from the board of Infosys effective from 9th july 2009 – Central Government, Infosys, UTVi
• The government is launching a new scheme on interest subsidy on educational loans taken for professional courses by economically weaker students – HRD Minister Kapil Sibal
• The Reserve Bank of India will come out with the first quarter review of Monetary Policy on July 28 – RBI
• IRB Infrastructure Developers has emerged as the lowest bidder for a Rs 800-crore maharashtra road project of the National Highway Authority of India (NHAI) and also got Rs. 216  crore grant from NHAI – BS
• Ansal Properties & Infrastructure reported a decline of 81.24% in its consolidated net profit at Rs 32.54 crore for the year ended March 2009, over the previous year – BSE, NSE, BS
• The Government increased the statutory minimum price (SMP) for sugarcane by 32% to Rs 107.76 per quintal for the 2009-10 sugar season. Farmers will get a premium of Rs 1.13 for every 0.1 percentage additional recovery over 9.5% – Home Minister P Chadamabaram , BS
• Rural Electrification Corporation (RECL) has advanced 3.5% at Rs 168 on the back of  the news that the government would speed up its rural electrification programme under which it has brought electricity to over 61,000 villages against targeted 1.18 lakh. RECL touches life time high of 173 – BS
• The brand architecture of Fem Care brands is different from the Dabur brands and will hence be developed as a separate business. Dabur will launch a bleach and a hair removal cream home made products in next month – Dabur India CEO Sunil Duggal, BS
• The Union Human Resource Ministry is considering to scrap the board examination for class 10 students

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: As i suggested not to go long on expiry day because market was going to face selling pressure in the closing session and market faced heavy selling orders by FIIs which dragged market 300 points down from its high level. All EU markets were trading very lower but DOW Jones and Nasdaq opened very high with almost 2% gains in both. Today Nifty weightage calculation is also going to change so yesterday closing selling pressure was from index funds and FIIs who adjusted their position before new calculation day. Today also market will be volatile as some big player will sell/buy specific stocks to gain maximum. Markete can open flat or with normal negative gains but in some time it will go in GREEN to trade with positive biased but keep watch on 4260 and 4320 levels in nifty. Above 4320 nifty can touch 4350 and below 4215 levels it may go below 4150.
• On 25 June 2009 Derivatives Expiry Day of June 2009, Foreign institutional investors (FIIs) were net sellers of Rs 1482 crore and Domestic institutional investors (DIIs) were net buyers of Rs 1118 crore on Bombay Stock Exchange – BSE Data, BS
• Nifty Levels: Current: 4241 Support Level 4215, 4165, 4110  Resistance Level 4260, 4320, 4350
• Buy Kalindee Rail: CMP 216.4 Short Target 254 (Thursday Target) Stop Loss 202 (Hold or buy even this stock opened negative today)
• Buy Titagruh Wagons: CMP 414 Short Target 459 Stop Loss 397 ( Not Intraday Call )
• Buy Bajaj Hindustan: CMP 205.2 Target 209, 213 Stop Loss 202
• Buy JP Hydro: CMP 94.5 Target 97, 99 Stop Loss 88 (Holding Target 110)
• Buy IRB Infra: CMP 148 Target 154, 157 Short Target 162 Stop Loss 143
• Buy Aban Offshore: CMP 865 Target 892, 910, 922 Stop Loss 842
• Buy GNFC:CMP 84.5 Target 87, 89.8 Stop Loss 82
• Buy Strides Acrolab: CMP 148.1 Target 155, 159, 162 Stop Loss 142
• Buy Unitech: CMP 82 Target 84.5, 88 Stop Loss 79
• Sell Biocon: CMP 227 Target 222, 219 Stop Loss 232
• Sell Ansal Properties: CMP 57 Target 54 Stop Loss 59.5
• Buy Deccan Goldmine: CMP 26.5 Short Term Target 31 Stop Loss 24 ( Not Intraday Call )
• Buy Lanco Infrastructure: CMP 357 Target 365, 371 Stop Loss 348 ( Short Term Target: 401 )
• I am suggesting to buy IVRCL Infra, IRB Infra, Lanco Infra and high risk trader can buy GMR infra.
• Past Trading Calls View Here

Mid-Session Updates

• Buy Aban Offshore: Target 950 SL 845
• Exit Sesa Goa: Short Target 173 SL 194
• Buy Info Edge (Naukri.com): Target 845, 875, 910
• Exit JP Hydro: Target 86 Stop Loss 97
• Opto Circuit Trading with 4% gain. Call was given at 155 on 24th June. Hold it till 183
• Under the debt relief scheme, called One Time Settlement (OTS), farmers were given debt relief to the extent of 25 per cent of their loans, if they pay 75 per cent of their debt to the banking sector. – BS
• Crude Oil marches above $71 per barrel – BS
• 3 PM: Nifty trading above 4375 and Sensex trading 14770 with 400 point gain
• Buy Sun Pharma 1140-1145: Target 1208, 1240 To 1300 SL 1100
• Buy GMR Infra: Target 155 SL 132