News Updates

• Today’s market calls Click Here
• Yesterday Sensex closed 209 points down at 11,667 on global cues
• Gujarat NRE Coke has secured a $50 million long term loan from banks in Singapore, London, Hong Kong and Antwerp
• Telecom giant Bharti Airtel  became the india’s biggest music company after overtaking Saregama
• Insurance regulator, IRDA, asked Life Insurance Corporation (LIC) to plan out reduction its stake in those companies where it holds more than 10% and expects a response in the next 15-20 days. HPCL, ITC, ACC and Mahindra & Mahindra are some companies in which LIC is having more than 10% stake
• Due to falling output, ONGC will invest Rs 6,000 cr in old and new offshore fields
• Dewan Housing reported 115% growth in Profit After Tax for Last quoter of 2008-2009
• Bank of Baroda expects about 20% increase in its net profit during the current fiscal and expecting same 2009-10 fiscal
• Due to huge investment, BHEL abandons plans to produce offshore oil rigs – BS
• DTH service provider Dish TV has partnered with Microsoft for advertising the micrtosoft’s gaming device ‘Xbox 360 Arcade’ on its DTH platform

Today’s Trading Calls

• Indian markets were under pressure as investors are hesitating to take any fresh positions ahead of the elections results
• In last month we have seen huge upside in reality stocks. Now we are seeing reverse mood from FIIs and DIIs in this sector for 2 sessions. DLF, Unitech, Orbit corp., Mahindra Lifespace, HCC, HDIL were almost 5% down on an average
• On a good number, SBI opened 5% up on initial trading but after 2 p.m. we have seen huge selling in SBI and which dragged SENSEX in deep RED.
• Market should open with flat signal but wait and watch for atleast 15 to 20 mins to decide in what way to trade. My opinion is that market will open with RED and should go in minor GREEN signal. Nifty 3500 will be major support. If that level is broken then we may see bear rally till 3300.
• Nifty: Support 3550, 3507, 3485, 3447 Resistance 3575, 3600, 3640
• Sell Pantaloons: Target  202, 198, 194 Short Term 190 Stop Loss 215
• Sell SBI: Target 1200, 1185 Short Term 1100 Stop Loss 1300
• Sell Ashok Leyland: Target 19, 18.5 Short Term 16 Stop Loss 21.8
• Buy Dewan Housing: Target 78, 80.6 Stop Loss 73
• Buy Dish TV: Target 36.2, 37, 37.8 Stop Loss 35.4
• Sell Welspun Guj: Target 105, 102 Stop Loss 112
• Sell NIIT: Target 28.5, 28 Stop Loss 30.6
• Buy Bank Of Baroda: Target 340, 350 Stop Loss 324
• Sell Kotak Mahindra: Target 430 Stop Loss 447
• Past Trading Calls View Here

Mid-Session Updates

• As expected, market opened in negative zone and it came into positive. We may see 3640 level before 16th May (election results day) But dont keep any long in your portfolio otherwise you will cry in second half of may 2009
• Buy Axis Bank: Target 450 Stop Loss 420
• BTST: Buy Aban Offshore, GMDC, JK Lakshmi Cement
• STBT: Sell Hind Motor, Sesa Goa