Market News Highlights

• On global (EU, US and other asian markets) cues, The Sensex yesterday opened 116 points down. However, the President’s speech on investments in infrastructure helped market to recover and come to trade in positive zone. The index rebounded and touched the day’s high of 15,026, up 427 points from the low. Sensex in a end closed 138 point up and above 15000 mark.The market breadth was positive with 2130 stocks trading positive and 688 stocks trading negative out of 2,873 stocks traded.
• Gujarat NRE Coke’s Australia-listed subsidiary Gujarat NRE Minerals, has announced its intention to take over Rey Resources, Stock was closed with 5% upper ckt
• Vijay Mallya company Kingfisher Airlines has got funding of Rs 2,000 crore from State Bank of India and a consortium of other banks to meet working capital requirements – ET
• Wal-Mart Stores will hire over 22,000 people  in 1009 which will bring cheer to the country’s strained labour market grappling with rising unemployment woes – BS
• Public sector lenders, Bank of Baroda (BOB), Indian Overseas Bank (IOB) and Andhra Bank have signed a joint venture agreement for setting up India BIA Bank (Malaysia) Bhd, a banking subsidiary in Malaysia – BS
• With decline in rentals, Mumbai has become lesser expensive for office space, but remains at the sixth position among the world’s costliest office markets – BS
• To fund business expansion, Big FM, the single-largest private FM radio company, will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) within the next two months – BS, Big FM
• The US has claimed that India is faced with a “high threat” from terrorism and asked its citizens to be vigilant, prompting New Delhi to assert that the country is a safe place and such an advisory was unwarranted – BS

Today’s Trading Calls

• Nifty Levels: Support Level 4568, 4500, 4460 Resistance Level 4580, 4608 , 4640
• Buy kalindee rail, Kernex  with a short target of 15% up move before Railway Budget 2009
• Buy Reliance Capital: Target 1090, Stop Loss 1020
• Buy JPHydro: Target 5%, 7% up
• Buy MIC ltd.: Short Target 52 Stop Loss 39
• Buy Container Corporation: Target 1000, 1008 Short Target 1056 Stop Loss 930
• Buy RNRL: Target 95, 97 Stop Loss 91
• Buy Shiv-vani Oil: Target 317, 320 Stop Loss 295
• Buy  Aban Offshore: Target 1210 Short Target (2 months) 1430 Stop Loss 1076
• Buy Anus Lab: Target 39, 40 Stop Loss 36
• Buy Seamac Ltd: Target 166, 169 Stop Loss 157
• Buy Essar Oil: Target 193, 197 Stop Loss 184
• Book Profit: Nirma Ltd.
• Past Trading Calls View Here

Mid-Session Updates

• Market opened with good positive move and almost up by 121 points in SENSEX. But we have seen some profit booking after 30 mins trade to drag market to come in RED
• Again market come in positive zone with HDFC gained which helped market to stay in positive zone.
• Buy Texmaco: For Short Term Target 149 Stop Loss 103
• Buy Mic Ltd. : Short Term Target: 54
• Watch Nifty at 4545 and sell stock for intrday drop of 75 points in nifty. But above 4590 closing today will push nifty to touch 4700 in coming days.
• Buy Jain Irrigation: Intraday Target 679 Stop Loss 640
• C&C Constructions Ltd has bagged two orders worth Rs 375 crore from Jaiprakash Associates Ltd – BS
• Buy C&C Constructions Ltd: Target 219, 240 in short term
• Maharashtra Budget Overview: http://www.business-standard.com/india/news/taxes-worth-rs-910-cr-in-maha-budget/360162/
• US Future market opened with 0.75% gains and EU markets opened with heavy gain of 2%. We expect indian market to trade with nice gain and nifty should close above 4620 level.