Today’s Trading Tips, News Updates – April 22
Posted by Stock Market Guru on 22 April, 2009
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News Updates
- Today’s market calls Click Here
- Taj Hotels Group to buy Sea Rock Hotel in Rs. 800 Crore
- GHCL promotor Mr. Sanjay has 8% stake instead previous declaration to SEBI of 18.7%. Hostile take over may happen.
- Crude Oil came down by 9% in a week, Trading at $48. Crude may touch $45 due to less demand
- Rupee closed 14 paise down against US dollar
- Punj Llyod will appeal to a higher court in the Sabic case and the legal process should take 12-14 months – Atul Punj, Chairman Punj Llyod
- Reliance Power’s Ultra Mega Power Project at Sasan in Madhya Pradesh achieves financial closure. ADAG company has taken debt from a consortium of 14 banks and financial institutions (SBI, Punjab National Bank, REC, IIFCL, Power Finance Corporation and many more) for the 4,000mw project. – BS
- US Government to annouce another stimulus package for General Motors
- Largest motorcycles company, Hero Honda, reported a profit of Rs 402 crore, almost 35% growth against Rs. 299 crore profit last year, for the forth quarter ending March 31, 2009 – BS
- Nalco had a production loss of over 1 lakh tonnes of bauxite, a key raw material, due to naxalite attacks on its mines – BS
- India’s IT services firm, Wipro acquired the mobile TV unit from Finland-based leading mobile manufacturer, Nokia – BS
- Only 44,000 H1B petitions received by US citizenship agency against cap of 65000 in 3 weeks – ET
- Forth Quarter Results Today – Wipro, Marico
- As we had written, Yesterday we have seen a lot of profit booking from FIIs and DIIs with huge volume of 90000 Crores. This signals that we will continue profit booking in coming trading sessions.
- RBI surprice rate cuts also not worked and Bankex hit badly and wass closed 3% down lead by ICICI bank
- All asian and EU markets were trading in RED but US markets were opened with marginal 70 points gap after 3 days profit booking sessions. We expect indian market to open weak but we will see some good recovery in late trading session. Always follow Support Levels and Resistance Levels before trading any of our calls
- Nifty: Support Levels – 3345, 3310, 3270 Resistance Levels – 3400, 3447, 3485
- Buy Wipro: Target – 281, 286 Short Target – 297, Stop Loss – 268
- Buy Marico: Target – 66, 66.8, Stop Loss – 62.6
- Buy Hero Honda: Target – 1165, 1174 Stop Loss – 1076 (Only Intraday – After today profit booking)
- Buy Indian Hotels: Target-52, 53.2, Stop Loss-48
- Buy Welspun Gujarat: Target -110, 115, Short Target – 129, Stop Loss – 98
- Buy Educomp: Target 2510
- Sell GHCL: Target 26.5, 25 Stop Loss – 31
- Sell Punj Llyod: Target 98, 95 Short Target – 89, Stop Loss – 107
- Sell TISCO: Sell Below 241 , Target 237, 232, Stop Loss – 249
- Buy/Hold KSOil: Target-53, 57 Stop Loss-45 (2 week for final target)
- Risky Trader may trade in Sell Rolta, Buy Berger Paints, Buy Reliance Power, Buy TV18, Sell ICICI Bank
- Past Trading Calls View Here
Mid-Session Updates
- buy Punj Llyod: Above 108.7 Short Target-115, 121 Stop Loss-107
- Nifty closed above 3334 level as expected.
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