Market News Highlights

• On positive global cues, Sensex opened with huge gains and crossed 15000 level in early trade. but it didn’t trade at that leve lfor more than 15 minutes. After 20 minutes, Sensex was trading between 14800 and 14950 range for more than 2 hours. In mid session market witnessed heavy profit booking due to bad sentiments from EU markets. In end market made to revocer from 200 points low to end in flat with minor loss. Nifty was closed in Positive.
• Sensex can outperform its Asian peers: Morgan Stanley, ET
• Opto Circuits India to raise up to Rs 400 crore by issuing equity shares or any other securities which are convertible into or exchangeable with the equity shares in one or more foreign currency under Qualified Institutions Placement (QIP) basis
• Hydro power firm NHPC to launch Rs 1,670-crore initial public offer (IPO) by August to part finance its expansion plans.
• British telecom Vodafone’s former chief executive Arun Sarin received 500,000 pounds (Rs 3.87 crore) to relocate to the US – ET
• Oil India Ltd reported a more than 20 per cent jump in net profit at Rs2,161.68 crore in 2008-09
• Public sector National Aluminium Company (Nalco) reported 81.37% drop in its net profit at Rs 83.20 crore for the fourth quarter ended March 31, 2009

Today’s Trading Calls

• Nifty Levels: Support Level 4500, 4460, 4380 Resistance Level 4568, 4608 , 4640
• Buy SAIL: Target 181, 183 Short Target 208 Stop Loss 172
• Sell Nalco: Target 348, 342, 339 Stop Loss 362
• Buy Welspun Gujrat: Target 238, 245 Stop Loss 222
• Buy Essar Oil: Target 183, 189, 191 Short Target 210 Stop Loss 172
• Buy Anu’s Lab: Target 38 Stop Loss 33
• Book Profit in Gujarat NRE Coke
• Buy NMDC: Target 420, 425, 430 Short Target 520 Stop Loss 399
• Buy Kalindee Rail: Target 175, 179 Stop Loss 166
• Buy Everonn: Buy it for 5% target and book profit
  
• Past Trading Calls View Here

Mid-Session Updates

• Kalindee Rail and Titagruh Wagons are on Upper Ckt. Try and get this before 20th juny.
• BTST: Buy Reliance Capital Target 1080 Stop Loss 1000
• Market trading above 15000 level
• Newly formed UPA Government to give more preference to Oil and Infrastructure business through out the 5 yr. So hold Aban, Gulf, Shivvani, ONGC, Cairn etc…
• Market closed above 15000 sensex level. So we are into another bull run before budget 2009. We may see nifty touching 4800 and then 5000 level before trend reversal.