Market News Highlights

• On positive global cues, Sensex opened 53 point up but in mid-session trades we had seen profit booking and index crashed to touch days low 14608 with 360 point down. But in last trading hour, we have seen heavy buying interest in all index stocks and that pulled market up to close at 34 points positive. After huge volatility, Sensex closed at 14875 and Nifty closed at 4525 level. Market breadth was marginally positive which was negative till mid session.
• Oil India Ltd, the nation’s second-largest state-run explorer, is about to launch an initial public offering (IPO) by September 2009 – Chairman N M Borah, BS
• Railway Minister Mamata Banerjee is likely to present the Rail Budget in the Lok Sabha on July 8 2009
• LIC Housing Finance has received the approval from its board for the allotment of one crore equity shares to qualified institutional investors
• State Bank of India (SBI)could raise Rs 28,000 crore from bonds to meet regulatory capital requirement during the current fiscal – BS
• Electronics Company LG Electronics plans to spend Rs 400 crore on research and development activities worldwide, besides laying emphasis on developing design and research facility in India – BS
• Bharti-MTN will become a major powerhouse & definitely a very attractive investment for those involved in Global & Emerging Markets ==> click to Read More
• In Today closing trading session Steel Authority of India, SAIL touched a 52-week high of Rs 182.80 on news of expected steel price increase in july 2009. All steel stocks were on fire Tata sttel was 8% up.
• Karvy Stock Broking rated PVR as an outperformer with a revised target of 153 from 106. They are expecting company to perform above expectation in FY10 as its all new commenced operations are getting stabilized
• Hindustan Petroleum Corporation (HPCL) reported a 13 times growth in net profit at Rs 5,104.04 crore from Rs. 384.51 crore for the fourth quarter ended March 31, 2009

Today’s Trading Calls

• Market outlook looks positive till 4640 level and market is having good support at 4460. Yesterday also market was trading in RED but it did not make to trade below 4460 that’s pulled market up in last trading session.
• Nifty Levels: Support Level 4500, 4460, 4380 Resistance Level 4568, 4608 , 4640
• Buy SAIL: Target 185, 189 Short Target 208 Stop Loss 173
• Buy Agro Tech: Target 163, 168, 172 Stop Loss 151
• Buy Rajesh Exports: Target 53, 55 Stop Loss 48
• Buy Welspun Gujrat: Target 202, 205 Stop Loss 193
• Buy Axis Bank: Target 748, 760, 780 Short Target 802 Stop Loss 698
• Buy Anu’s Lab: Target 36, 38 Stop Loss 31
• Buy Venus Remedies: Target 249, 259, 265 Stop Loss 234
• Buy HDIL: Target 310, 317, 322 Stop Loss 299
• Buy PVR: Target 130, 134 Stop Loss 122
• Buy Titagruh Wagons: Short Target  450 (2 months)
• Past Trading Calls View Here

Mid-Session Updates

• Market were opened with positive biased and broke psychological 15000 sensex level. But it didn’t able to stay above 1500 level and trading in a range of 15800 to 15999.
• Indian Rupee opened with a nice gain at 46.83 against dollar which is seven months high
• Buy Essar Oil: Short Term Target 240 Stop Loss 163
• Buy Anus Labs: Short term target 42, 44
• I had given Buy call for Gujarat NRE coke. Target achieved. One may book partial profit and follow trailing stop loss.
• Nifty trading in negative. So much volatility in market. Beware guys before entering in long positions.
• Crude Oil is expected to touch 80 level in coming days and next target for 4 months is 100 dollar. So start collecting good oil related stocks like Aban, Shivvani oil, Gulf oil etc…
• Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 375-crore order from Oman for supplying and erection of two gas turbine generating units of 126 mw each. – BS
• All EU markets were opened very weak which dragged Indian market confidence and Sensex came down 100 points. Also US market futures were signaling down move.
• BTST call Buy Everonn