The market opened positive but remained volatile throughout the day. The market seems to be tired and a further upmove can be seen in the coming days to come. I advise all traders to kindly book profits in every rise. However, positional buyers can stay long above 4385.
Today, market may open flat or positive with gap up attached with high volatility and remain long only above 4475 with SL 4460 for a tgt of 4495-4515. If it remains below 4475 keep short with SL 4490 for tgt 4450-4435. dont short blindly. Play with the mood of the market and mint money, Happy investing
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BEST BUY
BANK OF INDIA (BUY) 238.45 (Target1) 241 ( Target 2) 244 (Sl) 232
MOSER BAER (BUY) 306 (Target1) 309 ( Target 2) 313 (Sl) 299
INDIABULS REAL EST (BUY) 472 (Target1) 477 ( Target 2) 482 (Sl) 459
BEST BUY
GMR INFRA (BUY) 829 (Target1) 836 ( Target 2) 845 (Sl) 809
JUPIER BIO (BUY) 179 (Target1) 183 ( Target 2) 185 (Sl) 172
CINEMAX IND (BUY) 137 (Target1) 140 ( Target 2) 144 (Sl) 131
Ashok Leyland Ltd and Nissan Motor Co have formed a partnership to make light commercial vehicles, the two companies said on Wednesday.
The companies would form three ventures for vehicle manufacture, powertrain manufacture and technology development, they said in a joint statement.
The vehicle manufacturing venture will be majority-owned by Ashok Leyland and have an annual production capacity of more than 1,00,000 units in India, it said
Taking cues from the overseas markets, the Sensex opened with a huge negative gap of 268 points at 14,651 and dropped to a low of 14,592. However, fresh buying (mainly in Tata Steel) at lower levels saw the index recoup losses in early trades.
Buying spread to other counters as the day progressed, and the index rebounded by mid-noon trades. The index touched a high of 15,030 - up 438 points from the day's low. The Sensex finally ended with a gain of 74 points at 14,993.
The BSE Metal index surged over 4% to 11,204. The Oil & Gas index was up over 1% at 7937.
The market breadth was positive - out of 2,693 stocks traded, 1,533 advanced, 1,093 declined and 67 were unchanged today.
INDEX MOVERS...
Tata Steel soared 9% to Rs 660. ONGC surged 3% to Rs 834, and BHEL added 2.5% to Rs 1,851.
Hindalco and Reliance Energy rallied 2% each to Rs 157 and Rs 782, respectively. Tata Motors advanced 1.8% to Rs 675.
SBI and ACC gained 1.7% each at Rs 1,575 and Rs 1,044, respectively.
Larsen & Toubro, Ranbaxy and Grasim moved up around 1.5% each to Rs 2,588, Rs 372 and Rs 2,910, respectively. Bajaj Auto was up 1% at Rs 2,319.
Metal stocks witnessed huge buying today. SAIL surged 5% to Rs 161. Jindal Saw Pipes, Jindal Stainless, Jindal Steel, JSW Steel, National Aluminium, Sesa Goa, Sterlite and Shree Precoated were up 2-3% each.
...AND THE SHAKERS
Infosys shed 2.5% to Rs 1,834. NTPC dropped 1.3% to Rs 165.
HDFC and Satyam slipped around 1% each to Rs 1,957 and Rs 445, respectively.
MOST ACTIVE COUNTERS
Tata Steel topped the value chart with a turnover of Rs 212 crore followed by Reliance (Rs 175.70 crore), Everonn Systems (Rs 168 crore), ICICI Bank (Rs 134 crore) and Axis Bank (Rs 131.50 crore).
Ispat Industries led the volume chart with trades of around 3.64 crore shares followed by Tata Steel (3.25 crore), Nagarjuna Fertilisers (1.48 crore), UCO Bank (87.75 lakh) and IFCI (85.50 lakh).
DLF, the country's biggest realty firm, has bagged a deal to acquire
25 acres of land in Hyderabad from the state government for about Rs
450 crore.
The company is buying a 25-acre plot from the Andhra Pradesh
government at a rate of Rs 18.11 crore per acre, which means the total
cost is around Rs 452.75 crore. The land would be used for developing
IT premises, Rajeev Talwar, executive director, DLF told PTI here.
The deal comes days after the Delhi-based company agreed to buy 38
acre in the national capital for Rs 1,675 crore in the country's
biggest land deal.
BEST SELL
INDIABULLS REAL EST (SELL) 473 (Target1) 468 ( Target 2) 464 (Sl) 488
RCOM (SELL) 513 (Target1) 508 ( Target 2) 501 (Sl) 526
JSW STEEL (SELL) 604 (Target1) 599 ( Target 2) 592 (Sl) 614
BEST BUY
MOSER BAER (BUY) 285 (Target1) 289 ( Target 2) 293 (Sl) 276
CUMMINS (BUY) 366 (Target1) 370 ( Target 2) 375 (Sl) 357
REDINGTON (BUY) 263.5 (Target1) 268 ( Target 2) 271 (Sl) 258
BEST BUY
PRAJ IND (BUY) 177 (Target1) 179.9 ( Target 2) 183 (Sl) 173
IDEA CELL (BUY) 114 (Target1) 117 ( Target 2) 119 (Sl) 109
BANK OF INDIA (BUY) 224 (Target1) 227 ( Target 2) 231 (Sl) 219.8
BEST BUY
ORBIT CORP (BUY) 369 (Target1) 375 ( Target 2) 380 (Sl) 357
JUPITER BIO (BUY) 166 (Target1) 169 ( Target 2) 173 (Sl) 161
EVERONN (BUY) 512.1 (Target1) 519 ( Target 2) 525 (Sl) 502
BEST BUY
JSW STEEL (BUY) 549 (Target1) 555 ( Target 2) 561 (Sl) 527
GMR INFRA (BUY) 729 (Target1) 736 ( Target 2) 743 (Sl) 707
EVERONN (BUY) 518 (Target1) 526 ( Target 2) 535 (Sl) 502
BEST SELL
VISHAL RETAIL (SELL) 615 (Target1) 609 ( Target 2) 603 (Sl) 633
EVERONN (SELL) 522 (Target1) 516 ( Target 2) 510 (Sl) 554
PFC (SELL) 173 (Target1) 170 ( Target 2) 168 (Sl) 177
BEST BUY
JSW STEEL (BUY) 581 (Target1) 587 ( Target 2) 591 (Sl) 572
RCOM (BUY) 510 (Target1) 516 ( Target 2) 521 (Sl) 502
DLF (BUY) 585 (Target1) 590 ( Target 2) 596 (Sl) 577
The indian markets again danced to the tune of global markets yesterday. As the dow has closed in green, the world markets are expected to trade in green only. But still, i am not convinced about the sustainability of this rally and i still advise all not to go long till the nifty closes above 4260+.
Today, market may open flat or positive attached with high volatility and remain long only above 4200 with SL 4185 for a tgt of 4280-4310. If it remains below 4195 keep short with SL 4215 for tgt 4120-3990. dont short blindly. Play with the mood of the market and mint money will be the mantra for the day.... Best wishes for a safe trading..
BEST BUY
IB REAL EST (BUY) 461 (Target1) 467 ( Target 2) 473 (Sl) 447
ORBIT CORP (BUY) 439.8 (Target1) 445 ( Target 2) 451 (Sl) 420
IDBI (BUY) 119 (Target1) 123 ( Target 2) 126 (Sl) 113
BEST BUY
MPHASIS (BUY) 284 (Target1) 288 ( Target 2) 292 (Sl) 277
EVERONN (BUY) 570 (Target1) 577 ( Target 2) 584 (Sl) 559
POLARIS (BUY) 115 (Target1) 118 ( Target 2) 121 (Sl) 112
Market as expected crashed in a brutal way yesterday. The dow closed in flat but in red today and the indian market is expected to rebound today. Bears will use every dead cat bounce to hammer the market again and the bulls will have to try hard to regain their lost glory...Use every rise to escape from the market.
Today, market may open flat or positive attached with high volatility and remain long only above 4225 with SL 4208 for a tgt of 4310-4360. If it remains below 4220 keep short with SL 4238 for tgt 4110-4050. dont short blindly. Play with the mood of the market and mint money will be the mantra for the day.... Best wishes for a safe trading..
BEST SELL
INDIABULLS (SELL) 531 (Target1) 526 ( Target 2) 521 (Sl) 544
TATA MOTORS (SELL) 684 (Target1) 678 ( Target 2) 673 (Sl) 695
MPHASIS BFL (SELL) 288 (Target1) 284 ( Target 2) 281 (Sl) 300
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