Today Trading Tips, Stock Market News Updates – May 27
Posted by Stock Market Guru on 26 May, 2009
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Market News Highlights
- Yesterday as expected sensex was opened with 50 point positive gap and was able to maintain that level for 2 hours. Then we have seen huge selling orders in all asian markets which results in Nifty to go below 4200 level.In last hour session, Markte lost its gournd and nifty went down by 50 point to go below its major support level 4150. Finally Nifty closed at 4110 with 115 points down. Capital Goods and Reality sector had a strong selling pressure whereas Technology sector found some buying interest.
- Results To Watch: BHEL, Cairn India, Jindal Steel, Godrej Industries, MRPL, Indraprstha Gas, EMCO, Mukand Engineering, Tamilnadu news print and papers
- Indian Stock Market benchmark index Sensex could touch 19500 level in 2009-2010 financial year, provided the government pushes through the reform agenda – Analysts, ET
- Bharti Airtel’s institutional have given a thumbs-up to the company’s plans to merge with South African telecom major MTN, as they feel that access to emerging markets such as Africa and West Asia is crucial for the long-term growth prospects of the company – ET
- Mutual Funds are having Rs 20109 crore cash and they are awaiting for right opportunity to use their cash to buy equity stocks
- Bank of baroda reported 54% rise in Consolidated Net Profit but stock was trading flat at 441
- Kishore Biyani’s Pantaloon Retail has received shareholders’ approval for restructuring the company into three separate entities catering to FMCG, retail and fashion, and rechristening the group as Future Markets & Consumer Group – BS
- Electronics opticals producer Opto Circuits India’s board will meet on June 3 to discuss the raising of funds through issue of securities, including ADRs and FCCBs on preferential basis – BS
- Agro Tech Foods reported a growth rate of 28% in its consolidated net profit during the financial year ended March 31 but stock was closed 6% down at 131
- Hugh Hefner, the founder of adult entertainment publication Playboy may part with his creation for about 200 million pounds – BS
- SAIL, NMDC and RINL will together spend Rs 13,000 crore in the present fiscal on their respective expansion programmes with an aim to almost double their production capacities by 2011-12 – PTI, BS
- Finance Minister Pranab Mukherjee declared to present Budget 2009-10, which will spell out policies and priorities of the new UPA government, will be presented in the first week of July – BS
- ADAG Group company Reliance Communications (RCom) got its shareholders approval for the demerger of its optic fibre division to its infrastructure division Reliance Infratel
- SBI MF announces 28 pc dividend for Magnum Taxgain Scheme 1993 – BS
- As i have predicted market opened with 50 point GREEN zone and then started selling index stocks. Small cam and mid cap were also started seeing selling pressure.
- After long time, We have seen Market breadth negative. I’ve given alter to you before 3 days that Positive market breadth is giving signal of huge profit booking. All stocks were over bought buy FIIs and DIIs. Now market breadth turns negative which means tomorrow also we will see heavy selling and SENSEX could go below 13000 level before expiry day.
- Start selling Index Stocks especially Reality, Capital Goods and Bank. After expiry we may see selling pressure in Midcap and Small cap stocks.
- My prediction: Nifty will be at 3980-4020 on Expiry closing basis
- Nifty Levels: Sell Below 4100, 4056, 4020 Buy Above 4123 , 4150, 4200
- Buy Airtel Bharti: 1 Month Target 920 ( Its Short term buy)
- Sell RCOM: Target 277, 270 Stop Loss 298
- Sell NIIT: Target 44, 42 Short Target 36 Stop Loss 53
- Sell Spice Jet: Target 19 Stop Loss 22
- Sell Jet Airways: Target 10% down in 2 session
- Buy Karuturi: Short Target 16 Stop Loss 13
- Buy Tata Comm: Target 560, 575 Stop Loss 530
- Sell Praj Industry: Target 96 Short Target 92 Stop Loss 105
- Sell Rajesh Export: Short Target 35 Stop Loss 44
- Sell Opto Circuit: Target 145, 142 Stop Loss 157 ( Sell if you are a Trader as its good long term investment)
- Past Trading Calls View Here
Mid-Session Updates
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