News Updates

• Today’s market calls Click Here
• SENSEX closed 164 points up with strong support of EU markets
• Last week Inflation data will be declared today
• ECB cuts rate by 1%, EU stockes, especially Banks, were trading highr yesterday
• GM(General Motors) Reports $6 Billion Loss For First Quarter
• Steel companies are going to raise the prices of cold rolled and galvanized steel used by the auto and consumer durable industries by Rs 500-1,000 a tonne. Bhusan Steel 38%, SAIL 8%, up.Though JSW Steel reported 14% losses in Net Income, Stock Zoomed to 12% in market ending trade
• Oil prices soared close to six-month highs above 58 dollars a barrel on Thursday
• Oil and Natural Gas Corporation (ONGC) wants to exit Cairn India’s Rajasthan oilfields  – BS
• HDFC Bank Managing Director Aditya Puri has been voted as the best CEO of India, leaving behind Reliance Industries’s Mukesh Ambani – ET
• DLF issued final notice to shareholders for payment of the balance amount for the shares allotted to them in the company’s initial public offer ( IPO ) two years ago – BS
• March IIP data may show 1% fall – Moody’s, BS
• Anil Ambani group company Reliance Infrastructure is likely to invest about Rs 1,650 crore in various projects by the end of 2009-10

Today’s Trading Calls

• Market was trading choppy initially and then we have seen good positive move and SENSEX was 100 point up. It was traded in that range almost for 3 hours and finally EU market helped SENSEX to surge 164 up with Steel and metal stocks performing their best.
• We have seen heavy selling of 3700 CALL selling yesterday which indicates that 3700 is the strongest resistance which Nifty may not cross and we may see reverse flwo in market.
• We can see selling pressure in LArge Cap especially in Index Stocks but Small and mid cap still have some buying interest in it.
• Main Concern: Nifty still not able to close above 3700 resistance level which can be worrying for next session. Though Market move is Positive, Think to buy above 3687 only.
• Nifty Levels: Resistance- 3687, 3703, 3734 Support-3660, 3625, 3595
• Don’t Hold Any long in Bank Stocks especially large cap like SBI, ICICI, HDFC, Axis
• Buy Praj Indu: Target 80, Short Target 83 Stop Loss 72
• Buy Bharti Ship: Target 108, 111 Stop Loss 93
• Buy L&T: Target 1005, 1010 Stop Loss 978
• Buy Gujarat NRE: Target 30.9 Short Target 31.5 Stop Loss 28
• Buy Cairn: Target 220, 225 Short Target 231, 235 Stop Loss 211
• Buy Aban Offshore: Target 434, 440 Short Term 450 Stop Loss 420
• Buy Shiv-vani Oil: Target 173, 175 Short Target 179 Stop Loss 165
• Sell Indian Oil: Target 420, 418, 412 Stop Loss 429
• Sell DLF
• Buy reliance Infra: Target 830, 839 Short Target 875 Stop Loss 800
• Past Trading Calls View Here

Mid-Session Updates

• Don’t hold any long as Indian markets trading lower and EU will open with huge RED gap which will drag us in All RED move. Short bank and Realestate Stocks.
• BTST Call: Buy SBI (Target 1350, 1400) and Titagruh Wagons (220, 224)