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Monday, October 31, 2011

Market today

Market may open flat
Buy INFY at/above 2824.30 SL 2788 TGT 2892/2927/2955/2982 

Nifty Buy above 5418.50 SL 5401.40 TGT 5432/5446 




Tuesday, October 25, 2011

Market at close (25.10.11)

The Sensex closed at 17254.86, 315.58 points or 1.86% & Nifty touched 5200 mark after August before closing at 5191.60, 93.25 points or 1.83%. But market was having mixed breadth, 1419 shares advanced and 1390 shares declined in BSE. The rally was staged in the second half of the trade. Almost all the sectors, expect banking, supported the remarkable rally.
This rally expected to continue, if a solution to European debt crises may find in the European Union Summit scheduled on October 26.

Market by experts

8:43 AM - In the next few days the market is likely to stay within a narrow range of 5030 and 5177, says Pankaj Jain of Satguru Capital on Zee Business. The bias is still positive and the market could open half a percent up at 5098, he adds. Buy Nifty with a target of 5182 and stop loss of 5079 or at 5015, he advises.

8:30 AM - Today will be a difficult day to trade with many domestic events taking place today, says Mitesh Thacker, technical analyst, on ET Now. The Nifty is finding it difficult to cross the 5150 level but once this is breached on the upside then we could see a jump of 100 points, he adds.

Courtesy: money.rediff.com

Monday, October 24, 2011

Market at close

Both Sensex & Nifty ends with substantial gain. Sensex closed at 16939 up 154 points, Nifty spot 5098 up 48 points. Market can't hold it's earlier gains & also can't break it's major resistance of 5160-5174. Market breadth was negative, while CNX Mid cap index & BSE Small cap index was down. Advances with 588 against declines 836 (NSE). Banking & Capital goods pulled down the Nifty, but IT, Auto & Oil & gas sector supported.
High volatility may there for tomorrow as Nifty can't hold 5100 mark & also due to F & O settlement.
The experts like Mr. Atul Suri, says that there may be a short-term rally of 10 - 15% may be there in Nifty, but any negative news may re-test 4700 mark.
The other thing keep in mind is the monetary policy review meeting is scheduled for tomorrow.
Many economists & bankers is expecting the rate hike will be of 25 paise, some others expects that there will be a slight chance of RBI may take pausing in tomorrows review meeting due to contrasting demand.

Trading tip for 25.10.11

Nifty:-

Buy at/above 5112.25 TGT 5129.50/5147/5161 SL 5093.75

Sell at/below 5094.39 TGT 5077/5059/5045 SL 5113.85

Market at 12:00


12:02 PM - The market is now trading higher with strong buying seen in autos, realty and IT sectors. Sensex is at 17086, up 301 points from its previous close, and Nifty is at 5140, up 90 points. CNX Midcap index is up 0.9% and BSE Smallcapindex is up 0.6%. The market breadth is positive with advances at 894 against declines of 491 on the NSE. 

Market by experts


:42 AM - The bias should be on the long side today with 5068 being an important level for the Nifty, says Ashwani Gujral, technical analyst, on ET Now. On a weekly basis, the market will stay positive above 5073, he adds. He sees resistances at 5100 and 5151 and support at 5017 and 4985.
Courtesy: money.rediff.com

Sunday, October 23, 2011

Nifty may breakout on upside, can rally to 5600: Atul Suri

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In a CNBC-TV18's special show Investor Camp, Suri says, "If it comes in favour then I think we will breakout of the 5,170-5,200 range and give a 10% upmove. In case there is disappointment, we can drift down to 4,700. In case 4,700 breaks then 4,100-4,200 may become a reality."There is an European Central Bank meeting on October 26. There is an expectation of a package to rescue toxic debt in Europe. Trader Atul Suri says, the markets are expecting favourable solution.

However, he has a slight bias to an upside breakout by virtue of the global markets performance. He explains, global markets do not want to go down inspite of bad news. And that, according to Suri, is good news in itself.

He says, in case the Nifty breaks out the 5,170-5,200 range, it can rally to 5,600.

In case the market breaks out on the upside, he expects auto sector to outperform. "Auto sector will be an interesting play."

According to Suri, any big upmove is not possible without the participation of banking. "I think private sector banks are important."

He expects FMGC stocks to move to new highs, if the market moves up.

Below is the edited transcript of his interview on CNBC-TV18. Also watch the accompanying videos.

Q: What is your call on the market now?

A: We have been into the liquid oxygen stage of 4,720 and 5,170. But let me explain why it is so important and what the implication of this thing is.

Let's look at a little bigger picture. The recent high of 6,338 was touched on Diwali day. I think it was November 2010. After that, if you see progressively then this market has been not making new highs. We have been making lower-tops and lower-bottom.

For six-nine months market use to come to 5,200 then bounce back. 5,200 became an important support for this market over six-nine months. When 6,200 broke, somewhere in August or July of this year, it was a triangle formation breakdown.

The projection given by me and many other analysts was around 4,100-4,200 on the Nifty. The Nifty went down to 4,700, which is a recent bottom. So, if this target of 4,100-4,200 would have come then it would have been a problematic level.

The market has to continue making lower-bottoms and lower-tops, which is a nature of any down market. But in the last few weeks or months, the market is not breaking 4,700, in fact it has made a slightly what we term, in technical terms, a higher bottoms. This shows that inspite of all the bad news whether it's inflation, whether it's RBI, whether it's euro crises, the market does not want to go down.

Has 4,700 become a base? To become the base for the market, it has to go up. The market has to take out its previous top of 5,170-5,200. That's why this level is so important. This has become a range.

Interestingly, this has happened through all the global markets. If you say the problem is in Europe, the big player out there is Germany whose index is DAX, even the DAX has rallied 10-12%. And that has also broken out on the upper band.

If you see Dow's Friday close, it was 11,800, which is out of a three month range. So, inspite of all the bearish and negative talk, interestingly global markets are saying something else. Infact global markets are pointing towards upside breakdown.

It has not come in India yet. I think we don't have to wait for too long for this to come because in the coming week there are three-four important events. The most important event is ECB's meeting, in which there is an expectation of a package to rescue toxic debt in Europe.

The markets are expecting favourable solution. If this comes in favour then I think we will breakout of the 5,170-5,200 range and give a 10% upmove. This will not only happen in India, this will be part of a global upmove.

In case there is disappointment, we can drift down to 4,700. In case 4,700 breaks then 4,100-4,200 may become a reality. So, we are at a very important part of a range. We are at the upper end.

We have a very big event—the ECB meet. I have a slight bias to an upside breakout by virtue of the global markets performance. If you see Dow, DAX, FTSE or a lot of other markets, they have had good 10-15% pullback. They do not want to go down inspite of bad news. That is the good news in itself. Only China has not rallied.

In case we breakout of this 5,170-5,200 range, we can rally to 5,600. Is it a start of a bull market? I don't know. I will still have my doubts. There is no need to talk about big bull or bear market.

You may have 10% moves if you are able to capture it, great. If you are an investor, it is all the art of picking the right stocks. Broad market is not going to reward you. If you see in each sector, there is a function of divergent performances.

If you see auto sector, you will find that some stocks are at new highs, whereas some auto stocks are suffering. See in banks; private sector banks are doing well, PSUs are not doing well. So, there is a divergence seen in each sector.

If you are an investor, just hope that you are a good stock picker. If you are a trader, hopefully try to play for next 10%. That is broadly what the market is. It is absolutely exhausting, it is exhausting financially, it is exhausting mentally, but that is reality. That's our job to look at it as it is rather than as we dream it should be.

Courtesy: moneycontrol.com

Saturday, October 22, 2011

Indian Market at Close

4:26 PM - The markets closed in negative territory this week with all sectoral indices closing in the red. Capital goods remained the worst performer during the week and along with largecap counters, midcap and smallcap stocks also came under selling pressure. The Sensex was down 1.7% while the Nifty also lost 1.7% during the week. The CNX Midcap index was down 1.7%, the BSE Smallcap lost 1.2% and the BSE Capital Goods closed with 4.4% loss over the week. The BSE IT was down 3.1%, BSE Realty lost 3.2% and BSE OilGas closed with 2.5% loss during the week. The top Nifty gainers during the week were Maruti Suzuki, SBI, Axis Bank and Coal India while the biggest losers included TCS, HCL Tech, Sesa Goa and L & T.  
4:20 PM - Negativity prevailed in the markets today with both benchmark indices closing in the red. Barring consumer durables, all sectoral indices closed negative with capital goods and realty closing with sharp declines. Metal, banking and FMCG, too, came under selling pressure. The Sensex closed at 16786, down 151 points from its previous close, and the Nifty shut shop at 5050, down 42 points. The CNX Midcap index closed with 0.8% loss while the BSE Smallcap index was down 0.6% in today's trade. The market breadth was negative with advances at 474 against declines of 948 on the NSE. The top Nifty gainers were Bajaj Auto, Siemens, Maruti and Hero MotoCorp while the biggest losers included L & T, Bharti Airtel, Tata Motors and Hindalco.

Courtesy: money.rediff.com

Global Markets ( Europe ) update





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European stocks posted strong gains in Friday trade, with financial issues leading the way, buoyed by hopes of a settlement between Europe's leaders for a comprehensive plan to tackle the region's debt threat.

At the end of Friday's European session, the STOXX 50 Index climbed 2.89% to 2,337.51, France's CAC 40 added 2.83% to 3,171.34, Britain's FTSE 100 rose 1.93% to 5,488.65, and Germany's DAX advanced 3.55% to close at 5,970.96.

Finance ministers from the euro-zone's 17 nations convened in Brussels Friday to discuss boosting the current USD607 billion European Financial Stability Facility, but a rift remained between Germany and France on how best to maximize the fund's impact.

France has pushed for the use of additional money to come from the European Central Bank, while Germany argued that such a move would violate an EU treaty prohibiting the financing of governments.

'We will stick to the situation as it is in the treaty, that the central bank is not available for state financing,' German Finance Minister Wolfgang Schaeuble said before Friday's meeting.

Last week officials from both countries set Sunday as a deadline for formulating a plan, but announced adding a second meeting next Wednesday to formally outline details of an agreement.

Meanwhile, European Commissioner for Economic and Financial Affairs, Olli Rehn, said Friday that Greece would be receiving its next tranche of aid in November, provided that the Greek Parliament passes a savings and reform package as promised.

Elsewhere Friday, Germany's Ifo Institute for Economic Research reported that its index of German business sentiment fell to 106.4 in October, down from 107.5 in September.

Market expectations had been for a drop to 106.3 for the period.

'Given the international turmoil, the German economy is still performing well,' said Ifo President Hans-Werner Sinn following release of the data.

Financial issues across the region led session gainers, with Deutsche Bank AG surging 4.7%, Commerzbank AG strengthening by 5.3%, Societe Generale SA jumping 5.6% and Barclays Plc. rising by 5.8%.

Thomas Cook Group Plc skyrocketed by 13.1% after the travel firm agreed to terms with its financiers for a new USD158 million loan.

Supermarket operator Ocado Group Plc. rose 4.8% following an upgrade to the company's stock from neutral to buy from Bank of America Merrill Lynch.

Meanwhile in mid-day trade on Wall Street the Dow JonesIndustrial Average rose 1.51% to 11,715.60, the NasdaqComposite Index advanced 0.77% to 2,618.50 and the S&P 500 was higher by 1.20% to 1,229.94.

Courtesy: moneycontrol.com 

Friday, October 21, 2011

Market at close

It was a disappointing session on Dalal Street. After remaining choppy in the first half of the session, the market took a late dive. This as disappointing earnings from the likes of L&T ,JSW Steel and Idea hurt sentiment.

The Nifty lost 40 points and closed below the 5050 mark, while the Sensex lost 151 points.

Markets This Week

Nifty, Sensex down 1.7% ::

CNX Midcap Index down 1.7%; BSE Small Cap Index down 1.2%

BSE Cap Goods Index down 4.4%;  BSE Realty Index down 3.2%

BSE IT  down 3.1%; BSE Oil & Gas down 2.5% andBSE Cap Goods down 4.5%

Nifty Gainers

  • Maruti Suzuki  up 6.4% 
  • SBI  up 3.5%
  • Hero Moto up 3%
  • HDFC Bank  up 2.8%
  • Axis Bank up 2.6%
  • Coal India up 1.7%

Nifty Losers

  • TCS down 7.5%
  • HCL Tech down 6.3%
  • Sesa Goa  down 6.4%
  • Reliance Infra  down 6.2% 
  • L&T  down 5.8%
  • Hindalco  down 5.7%
  •  HDFC  down 5.05%

Midcap Gainers

  • Jaypee Infratech up 26%
  • Moser Baer  up 24.3%
  • Arshiya International  up 18%. 
  • Raymonds up 15%
  • Patni up 14%
  • KPIT Cummins  up 10.7%

Midcap Losers

  • Crompton Greaves  down 14%
  • Jain Irrigation down 12%
  • Exide  down  11%
  • Den Networks down 11%
  • Chambal Fert down 11%
  • MphasiS down 9%



Source: moneycontrol.com

Market cues

Source: moneycontrol.com

The US markets closed mixed after a volatile session as traders sifted through a slew of headlines from the Eurozone ahead of a key EU summit this weekend.

And on economic data front, weekly jobless claims fell more than expected, slipping 6,000 to a seasonally adjusted 403,000. Adding to optimism, factory activity in the mid-Atlantic area unexpectedly rose to 9.7 in October. However, US existing home sales fell 3% to an annual rate of 4.91 million in September, which more than expected.

Europe's efforts to solve its escalating debt crisis plunged into disarray as Germany and France could not bridge their differences in time for a summit on Sunday, forcing them to call a second meeting.

The offices of French president Nicolas Sarkozy and German chancellor Angela Merkel announced they needed more time after it became clear that they could not agree on the main points of the plan. Both governments said that all elements of the Eurozone's crisis strategy would be discussed on Sunday, so it can be definitively adopted by the heads of state and government at a second meeting on Wednesday at the latest. Both the leaders may be meeting again tomorrow ahead of Sunday's summit.

Greek lawmakers have passed a deeply resented austerity bill that has led to violent protests on the streets of Athens, despite some dissent from one socialist lawmaker.

The new measures include pay and staff cuts in the civil service as well as pension cuts and tax hikes for all Greeks. The bill was passed by majority vote in the 300-member parliament

And in Europe, markets ended lower in a volatile session ahead of uncertainty over the outcome of EU summit.

On to the big international story, the brutal end of one of the world's longest serving dictators – Moammar Quaddafi.

The overthrown Libyan dictator was killed in a gun battle in his home town Sirte. The news brought celebration on the streets of the revolutions main city Benghazi and marks the end of one of the world's most powerful dictators.

In the currency space, euro remains volatile ahead of uncertainties over outcome from the weekend EU summit

In commodities, crude trims its declines…holds steady around USD 109 levels amid speculation that fuel demand may increase.

Meanwhile, gold at USD 1,623 levels hurt by technical selling and anxiety over whether European leaders can reach a deal to boost the region's bailout fund.

And back home, the Nifty pulls back from 5,030 to close just under 5,100…the Sensex ends 150 points in the red.

In key earnings to watch: capital goods major L&T is expected to post 18% surge in its total income on execution of strong order backlog while margins may see slight contraction. And HCC may see some pressure on bottom-line due to escalating interest costs. Also Idea Cellular and JSW Steel will declare their numbers today.


Source: moneycontrol.com

Market by expert


8:30 AM - For the day, the Nifty is likely to stay positive above 5074 with resistances coming in at 5115 and 5140 and support at 5049 and then 5008, says Ashwani Gujral, technical analyst, on ET Now. Buy on every 100 point dip for a 100 point bounce, he advises. 

Source: money.rediff.com

Thursday, October 20, 2011

Nifty Trading tip for 21.10.2011

The Indian markets were down and out in the first half of the session but a ray of hope from Europe helped improve sentiment. Reports indicate that the European Financial Stability Facility or EFSF, will be allowed to buy bonds in the secondary markets.

The EFSF draft guidelines helped the Nifty bounce off its early lows but the index still closed with a 50 point cut.

The Sensex too recovered from the day's lows to close with a 150 point cut.


Trading tips

Nifty oct 2011 fut buy at 5094.75 tgt 5109/5127/5145/5164 SL 5075.70

Market at close

4:00 PM - It was a gap-down opening for the markets today and the indices slipped further in the morning but recovered from the lows of the day to close with about 0.85% losses. Realty, auto and capital goods were the biggest losers today and housing finance companies also tumbled on the news that there would not be any charges on pre-payment of housing loans. IT was the lone sector that closed in the green. The Sensex closed at 16937, down 148 points from its previous close, and the Nifty shut shop at 5092, down 47 points. The CNX Midcap index closed with 1.1% loss while the BSE Smallcap index was down 0.5% in today's trade. The market breadth was negative with advances at 470 against declines of 934 on the NSE. The top Nifty gainers were Tata SteelHCL TechJindal Steel andBharti Airtel while the biggest losers included HDFCIDFCDLF and JP Associates.

3:34 PM - The markets closed with significant losses today with IT being the sole sector to close positive. The Sensex closed at 16943 (provisional), down 142 points from its previous close, and the Nifty closed at 5091 (provisional), down 48 points. The CNX Midcap index was down 1.2% and the BSE Smallcap index lost 0.5%. The market breadth was negative with advances at 477 against declines of 940 on the NSE.

Source: money.rediff.com

Market now

Continuous worries over a possible European deal has dampened the mood of investors on Dalal Street as well as other global markets. The 30-share BSE Sensex tumbled 320 points at 16,765.83 and the 50-share NSE Nifty dropped 99 points at 5,040. European markets were down more than 1% in the opening trade. Asian markets extended the downtrend, falling between 1% and 3% in late trade.

Back home, about 48 stocks out of Nifty 50 were on sellers' radar. HDFC has maintained its top position in the selling list, falling 4.8%.

Jaiprakash Associates, ICICI Bank, DLF, Tata Power and IDFC were down 3-4%. Reliance Industries, ONGC, Coal India, NTPC, HDFC Bank, Infosys, TCS, ITC, Wipro, BHEL and L&T remained in the red, losing 1-2%.

Anil Dhirubhai Ambani Group's stocks like Reliance Communications, Reliance Infrastructure and Reliance Power fell 2-2.7%. However, Sun Pharma and Maruti Suzuki outperformed other largecaps, gaining 0.8% each.

Apollo Hospital, SBI, Crompton Greaves, Flexituff International, HDFC and Tata Motors were most active shares on exchanges.

About two shares have fallen for every share gaining on the BSE.

At 11:12 hours IST : Sensex drops 300 pts; rupee falls to 49.73 per dollar

Indian equity benchmarks erased most of its gains accumulated yesterday following a further fall in Asian markets. Shanghai and Hang Seng fell 2% each while Kospi and Taiwan lost 1.5% each; Nikkei and Straits Times were down 1%. The 50-share NSE Nifty shed 94 points to 5,045.55 and the 30-share BSE Sensex fell 304 points to 16,781.16.

The Indian rupee depreciated by 58 paise to 49.73 per dollar today.

All sectoral indices were trading lower. The BSE Metal, Oil & Gas and Bank indices plunged 2% each. Power, Auto, Realty, IT, Capital Goods and FMCG were down 1-1.7%.

HDFC was the biggest loser, falling more than 4%. Hero Motocorp and DLF, which were top gainers yesterday, tumbled 3% each.

Profit booking was another concern behind today's sell-off. Reliance Industries, ICICI Bank, NTPC, Wipro, HDFC Bank and Tata Motors plummeted 2-3%.

ONGC, Coal India, TCS, Infosys, ITC and L&T declined 1.3% each. However, Maruti and Sun Pharma bucked the trend, rising marginally.

About two shares slipped for every share rising on National Stock Exchange.

At 10:38 hours IST : Sensex falls 1.5% on broadbased selling

The market extended its fall on the back of profit booking across sectors. The 30-share BSE Sensex dropped 269.39 points or 1.58% to 16,815.95, and the 50-share NSE Nifty was down 80.60 points or 1.57% at 5058.55.

Emil Wolter of RBS said investors should focus on preserving capital. According to him, volatility may remain high given the frequency of policy meddling and high levels of leverage.

Largecaps like Reliance Industries, HDFC, ICICI Bank, Wipro, NTPC and Tata Motors tanked 2-3%.

Among others, ONGC, TCS, ITC, Coal India, Infosys, HDFC Bank, BHEL and L&T were down 1-1.5%. However, only Sun Pharma and Maruti gained 0.3% on Nifty.

The broader indices were marginally lower. The market breadth was in favour of declines; about 765 shares advanced as against 1247 shares declined on BSE.

In the midcap space, Essar Ports shot up 13%. Bajaj Finserv, Peninsula Land, Raymond and Glenmark gained 3-6% while Rallis India, MVL, Polaris, Phoenix Mills and Shree Renuka lost 3-6%.

New listing - M and B Switchgears fell 15% to Rs 157.60 as against issue price of Rs 186 a share.



Source: moneycontrol.com