Stock Market & Business News Highlights – 29 June 2009

• After having some selling pressure on expiry, Market witnessed some good buying interest on 26 june. US Dow Jones and Nasdaq were closed with 2.5% gains and all asian markets were trading higher. After mid session, Al EU markets opened with flat or negative interest but indian market were started its march towards 4400 level in nifty and 15000 level n sensex. But  nifty witnessed strong resistance at 4390 level. Finally NSE benchmark nifty closed at 4376 with 133 point gains and BSE sensex closed at 14764 with 412 points gains.
• Crude Oil was trading with 1.5% losses at $69.1 yesterday – Bloomberg.com
• Public sector major, SBI has launched a new car loan scheme called “Ezee Car Loan Scheme” from July 1, 2009, which is the State Bank of India foundation day.Car buyers can get extremely cheap car loans at reduced rates of 8% per annum. fixed for the first year and 10% per annum fixed for the second and third years – UTVi
• Suzlon Energy  consolidated revenue expanded 91 per cent at Rs 26,082 crore in FY09 as against Rs 13,679 crore in FY08 – BS
• S Kumars Nationwide The company acquired Chicago-based Hartmarx for $120 million through its US subsidiary SKNL North America BV, along with its operating partner Emerisque UK – ET
• Life Insurance Corporation ( LIC ) has raised its stake in Bharati Shipyard to 9.66 per cent, after acquiring nearly three per cent stake for over Rs 12.05 crore through open market transaction – BS
• Through Qualified Institutional Placement (QIP), Finacial Institution IFCI would raise Rs. 700 crore to Rs. 1000 crore from bonds for more business expansion – Mr. Atul Rai, CEO IFCI
• Kesoram Idustriess Ltd., A B K Birla Group Company, will invest Rs. 1550 crore over next 15 months on expansion of which Rs. 750 crore in Cement business and Rs. 800 Crore in tyre division – ET, BS
• India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, power plants in Tamil Nadu and Andhra Pradesh and acquiring a coal mine abroad – BS
• Sahyadri Industries reported rise of 194.93%  in net profit to Rs 19.79 crore in the year ended March 2009 as aganst Rs 6.71 crore during the previous year ended March 2008 and Sales rose 11.04% to Rs 252.19 crore in the year ended March 2009 as against Rs 227.11 crore during the previous year ended March 2008 – UTVi
• Amrutanjan Health Care posted 1760.92% rise in Net Profit to Rs 92.86 crore in the year ended March 2009 as against Rs 4.99 crore during the previous year ended March 2008 – UTVi
• Reliance Gas, GAIL, Indian Oil – Adani Energy, Siti Enegry, HPCL, GSPC Gas and Bhagyanagar Gas bidding for rights to retails CNG in seven cities including Allahabad, Chandigarh, Ghaziabad and Jhansi – BS
• Gemini Communications acquires 51% in Sanath – IndiaEarnings
• Moser Baer aims to raise $ 300 m for Power,Mining ops – IndiaEarnings

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: Indian market were closed on last friday with heavy buying interest from FIIs and DIIs. Nifty was found to have strong resistance at 4390 level and closed nearly 4376 level. We may see upstream continue in market and if nifty will go above 4390 level in early trade then we may see market going above 4440 level soon and sensex to trade above 15000 levels. But 4350 and 4260 will be the strong support level below that we may see down move till 4150 levels. This week we will be having Rail Budget and then next General Budget which cause market to be in high volatility. Be careful and choose good picks for coming budget declarations.
• On 26 June 2009 First day when Nifty weightage calculation change,  Foreign institutional investors (FIIs) were net buyers of Rs. 551 crore and Domestic institutional investors (DIIs) were net buyers of Rs 334 crore on Bombay Stock Exchange – BSE Data, BS
• Nifty Levels: Current: 4375 Support Level 4350, 4320, 4260  Resistance Level 4390, 4440, 4455
• Sell Gujarat NRE Coke: CMP 49.75 Target 48.5, 47.8 Stop Loss 50.2
• Buy IFCI: CMP 55.5 Target 57.5, 59 Short Target 62, 65 Stop Loss 54
• Buy Suzlon Energy: Target 5-8% intraday – Hold it above 129 for short target 158 with Stop loss 107
• Buy Unitech: CMP 82.3  Target 84, 85.5 87 Stop Loss 81 ( Delivery Base: Hold above 86 for next short term target of 94, 96.7 wit Stop Loss 79)
• Buy Gemini Communications: CMP 22.7 Target 23.5, 24 Stop Loss 22
• Buy GMR Infra: CMP 137.3 Target 139, 141 Short term Target 148 Stop Loss 134
• Buy Bartronics: CMP 181.4 Target 193 Short Term Target 204.6 Stop Loss 174
• Buy Yes Bank: CMP 142.2 Target 144, 145.5 Stop Loss 140
• Buy Moser Baer: CMP 93.4 Target 96, 98.3 Stop Loss 91
• Buy S. Kumar: CMP 46.4 Target 48, 48.5 Stop Loss 45.8
• Buy Kesoram Industries: CMP 276.95 Target 284, 289, 292.5 Stop Loss 268
• Past Trading Calls View Here

Mid-Session Updates

• Market is trading weak with negative bias and its not able to go above 4390 level as i mentioned.
• Buy JP Hydro: Between 95-97 Short Term Target 112 Stop Loss 85
• Exit Suzlon Energy with short term target 104
• Buy Dena Bank: with SL 53 Target 59, 62 ( Short Term)
• Nifty is having major resistance at 4390 level. Traded above that level for sometime but again dragged down to 4385 levels.
• Book profit in Sesa Goa, Gujarat NRE Coke. We may see some down move in this stocks.
• Buy RIL for short term 100 points gains
• Buy Hero Honda: CMP 1384 Target 1500, 1550, 1610 Stop Loss 1300 (2 Sessions)
• Nifty closed below 4390 level today again. We may see some profit booking tomorrow.