4:01 PM - Weak global cues and hawkish monetary policy had the Indian market reeling today. Sensex closed at 13791, down 557 points and Nifty at 4189, down 142 points from the previous close. The CNX Midcaps index was down 2.9% and BSE Smallcaps index was down 1.2%. BSE Bankex index was down 8% and BSE Realty Index was down 5.5%. The market breadth was negative with advances at 320 against declines of 931 on the NSE. Top Nifty gainers included Nalco, Sterlite Industries and Cairn while losers included HDFC Bank, ICICI Bank and L&T.

3:55 PM - Stocks that have seen a good closing today may see some more upside if international cues are positive, says Deepak Mohoni, technical analyst, on CNBC Awaaz, as opening market strategy for tomorrow. One can keep a watch on stocks like Hindustan Lever, Sesa Goa and some sugar counters, he adds.

3:52 PM - The market is in an intermediate downtrend and 3800 on the Nifty would not be surprising, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. The market is likely to see volatility ahead with Thursday being F&O expiry as well, he adds. Nifty will face stiff resistance at 4300, he says.

3:42 PM - Rolta has support at Rs 265 which one can also keep as a stop loss and resistance at Rs 350 where one can book profits, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 289, down 2.75% on the BSE.

3:37 PM - It was a bad day for the market that fell following the hawkish RBI policy announcement. Sensex closed at 13759, down 589 points (provisional) and Nifty at 4177, down 154 points (provisional) from the previous close. The CNX Midcaps index was down 3.18% and BSE Smallcaps index was down 1.2%. The worst hit were the banking and realty space, BSE Bankex index was down 8% and BSE Realty index was down 6%. The market breadth was negative with advances at 330 against declines of 922 on the NSE.

3:30 PM - Sensex may touch 8500 by calendar year end, says Sailesh Jha of Barcalyas Capital, on CNBC TV18. Inflation could go to 17% by September, he says. One can see repo rate hike of 150-200 bps and CRR hike of 100-125 bps by the year end, he says. The hawkish stance of the RBI may continue and this may not be the end of the tightening phase, he adds.

3:23 PM - The RBI's credit policy is based on forward-looking macro analysis, says YV Reddy, RBI governor, on CNBC TV18. Inflation pressures are likely to intensify and it is expected to be at current levels for the next few months, he says. The present move should have a sobering effect on demand as RBI has been urging banks to contain credit growth, he says. But the economy has the underlying strength to grow at 8%, he adds.

3:15 PM - Sterlite Industries is a buy at Rs 560 which one can also keep as a stop loss and resistance at Rs 700, says Ashwani Gujral, technical analyst, on CNBC Awaaz. In this market one cannot take a long term view but only trade, he says. The stock is currently trading at Rs 594, up 2.24% on the BSE.

3:06 PM - It is a bad day for the market as the pain continues. Sensex is trading at 13793, down 555 points and Nifty is at 4190, down 141 points from the previous close. The CNX Midcaps index is down 2.7% and BSE Smallcaps index is down 1.22%. The market breadth is negative with advances at 336 against declines of 905 on the NSE.

3:00 PM - Sun Pharma is trading in a range of Rs 1270-1510, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock can be bought at the lower level and profits booked at the higher level, he adds. The stock is currently trading at Rs 1406, up 0.54% on the BSE.

2:49 PM - BPCL has support at Rs 280 and resistance at Rs 328-350, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is news driven and can be bought when oil is higher, he says. The stock is currently trading at Rs 310, down 4.8% on the BSE.

2:41 PM - RBI credit policy: Expect another 50 bps hike in repo rate and 75 bps in CRR, states HSBC on CNBC TV18. Bank of India states that banks will definitely look at revising lending and interest rates. RBI's hawkish stance to continue, states Citibank.

2:31 PM - Parj Industries has an upside target of Rs 235 in the long term, says Vikram Suryavanshi of Karvy Stock Broking, on CNBC Awaaz. The company has a sound business model with a good order book of Rs 950 crore, he says. Its expansion plans in Europe and Brazil will add to its profits, he adds. The stock is currently trading at Rs 190, down 5.5% on the BSE.

2:19 PM - Slowdown in growth going to hit equity market sentiment, says Ved Prakash Chaturvedi of Tata Mutual Fund, on NDTV Profit. Higher interest rates, MTM losses to hurt banks in the short term, he says. Tata MF to remain 'underweight' on banks for the short term, he adds.

2:10 PM - The market is now likely to settle around 13000-14500 range for the Sensex, says Nirmal Jain of India Infoline, on CNBC TV18. The market is likely to revisit the lows of 2008, he adds.

2:01 PM - The market continues to be in pain. Sensex is trading at 13792, down 556 points and Nifty is at 4179, down 152 points from the previous close. The CNX Midcaps index is down 3% and BSE Smallcaps index is down 1.3%. The market breadth is negative with advances at 293 against declines of 927 on the NSE.

1:53 PM - Religare has kept a buy rating for Divi's Lab with a target price of Rs 1833, reports CNBC Awaaz. The stock is currently trading at Rs 1386, down 0.79% on the BSE.

1:42 PM - It is clear that inflation is a priority for the RBI, says Andrew Freris, senior investment strategist with BNP Paribas, on NDTV Profit. Higher inflation in India is driven by domestic demand, he says. Global credit crisis has a nil impact on Indian equities, he feels. Asian economies are slowing, so crude prices are likely to cool off, he adds.

1:30 PM - Inflation remains a challenge and RBI must use all policy tools at its disposal, says Chanda Kochhar, Joint Managing Director of ICICI Bank, on CNBC TV18. Economy must go through some pain to control inflation, she remarks about the credit policy. RBI move could see lending rates move higher, she says. Credit growth is likely to be 16-20% for FY09, she says.

1:22 PM - Bank of Baroda posts 12% increase in Q1 FY09 PAT at Rs 371 crore versus Rs 331 crore and total income at Rs 3810 crore versus Rs 3020 crore (YoY), reports NDTV Profit. The stock is currently trading at Rs 227, down 9.59% on the BSE.

1:09 PM - The Asian markets are reeling under pressure. Bad global cues and the hawkish RBI monetary policy is seeing the Indian market take a big hit. Sensex is trading at 13783, down 566 points and Nifty is at 4176, down 155 points from the previous close. The CNX Midcaps index is down 2.8% and BSE Smallcaps index is down 1.1%. All sectoral indices are in the negative, BSE Bankex index is down 8% and BSE Realty index is down 6%. The market breadth is negative with advances at 308 against declines of 899 on the NSE.

12:58 PM - IDFC-SSKI has kept 'buy' rating on HDFC Bank, with a target price of Rs 1,427, reports CNBC-TV18. The stock is currently trading at Rs 1,006, down 10.7% on the BSE.

12:48 PM - In the short term, RBI's move is expected to be harsh on banking and the real estate sector, says Nilesh Shah, Deputy MD of ICICI Prudential, on CNBC-TV18. He also sees FY09 earnings growth expectations coming down to 12-15%.

12:40 PM - It is shocking that the RBI action was beyond expectation because inflation was anyway looking to getting moderated, says S Narayansami, CMD of Bank of India, on CNBC-TV18. Banks will definitely look at revising interest rates now, he adds.

12:32 PM - Growth rates will need to be revised lower now, says Abheek Baruah, Chief Economist, HDFC Bank, on CNBC-TV18. He expects growth to come down to 7.3-7.6%.

12:25 PM - Emkay has a 'buy' rating on Mphasis, with a target price of Rs 315, reports CNBC-TV18. The stock is currently trading at Rs 195.70, down 6.9% on the BSE.

12:17 PM - Inflation has emerged as the biggest risk to global outlook and bringing it down is the highest priority, says the RBI, reports CNBC-TV18. RBI aims to bring down inflation to 5% as soon as possible, but has a realistic endeavour to lower inflation to 7% by March '09. Inflation will fall sharply from Q4FY09, it says.

12:10 PM - Sharekhan has kept buy rating on L&T, with a target of Rs 4,044, reports CNBC-TV18. The stock is currently trading at Rs 2,576, down 5.4% on the BSE.

12:03 PM - The market has taken a bad hit by the hikes announced by he RBI now. Sensex has fallen below 14,000 and is currently at 13,907, down 441 points from the previous close. Nifty is at 4212, down 119 points. BSE Bankex has lost over 5% so far, while BSE Capital Goods and BSE Realty indices are down over 3% each.

11:56 AM - The RBI has hiked Repo rate by 50 bps and CRR by 25 bps. CRR hike will be effective form August 30.

11:50 AM - A lot of the steel stocks can correct significantly because a lot of them are still giving investors good returns over last 12-18 months horizon, says Nilesh Shah, MD & CEO of Envision Capital, on CNBC-TV18. So these are really not times to buy into them and probably early enough to sell, he adds.

11:41 AM - GMR Infra will face resistance at Rs Rs 105-115 and has support at Rs 76, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. If one wants to hold it, then have a long term view for any gains, he suggests. The stock is currently trading at Rs 89.70, down 1.6% on the BSE.

11:32 AM - In tea, Harrisons Malayalam can move up to Rs 120, says Rajat Bose, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 97.30, down 1.3% on the BSE.

11:25 AM - Maruti Suzuki has good support at Rs 530 and a strong resistance at Rs 675, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Unless it does not cross the resistance level decisively, the stock will continue to remain under pressure, he adds. It is currently trading at Rs 599, down 1.9% on the BSE.

11:17 AM - Unitech will face resistance at Rs 175-180, where one should exit the stock, says Salil Sharma, technical analyst, on CNBC Awaaz. It can fall from here he adds. It is currently trading at Rs 165.25, down 1.5% on the BSE.

11:10 AM - One can look at buying tea stocks as medium term investments, says Rajat Bose, technical analyst, on CNBC-TV18. Jay Shree Tea has a medium term target of Rs 210, he adds. It is currently trading at Rs 149, down 2.2% on the BSE.

11:02 AM - Sensex is currently at 14,114, down 234 points from the previous close. Nifty is at 4268, down 63 points. CNX Midcap index has lost 0.9% so far, while BSE Smallcap index is up 0.2%. All sectoral indices are trading lower, with that belonging to the interest rate sensitives like banks, realty, capital goods, being beaten up the most. Market breadth is weak, with 476 advances against 634 declines on the BSE.

10:55 AM - The RBI may raise the interest rates today, says Nilesh Shah, MD & CEO of Envision Capital, on CNBC-TV18. But rather than the merely focusing on the rates, the market will focus on how the RBI sees the overall economy, he adds.

10:48 AM - NTPC is a good buy at Rs 168-170, says Ambareesh Baliga of Karvy Stock Broking, on Zee Business. The stock is currently trading at Rs 181.50, down 1.8% on the BSE.

10:41 AM - Polaris will face short term resistance at Rs 104-105, says Salil Sharma, technical analyst, on CNBC Awaaz. But if you have a month's view, then the stock can give 10-15% gains from here, he adds. It is currently trading at Rs 100.50, up 2.8% on the BSE.

10:33 AM - Sugar stocks do not look like good trading bets now, says Rajat Bose, technical analyst, on CNBC-TV18. Buy them at dips, as investments, he suggests.

10:26 AM - Reliance Communications can re-test Rs 450-460, says MB Singh, technical analyst, on Zee Business. One should exit the stock now and can look at re-entering at lower levels again, he suggests. It is currently trading at Rs 499.50, down 2.5% on the BSE.

10:19 AM - DLF looks due for a correction now, says Salil Sharma, technical analyst, on CNBC Awaaz. It can go up to Rs 510-530, but it will face strong resistance there, so one should look at exiting the counter there, he says. It is currently trading at Rs 489.15, down over 2% on the BSE.

10:12 AM - One can continue to hold JP Hydro, as long as it stays above Rs 50, its support level, says MB Singh, technical analyst, on Zee Business.In this case, it can go up to Rs 70-75 in the coming few weeks, he adds. But it may face some resistance at Rs 61, he says. The stock is currently trading at Rs 53.30, down 2.6% on the BSE.

10:04 AM - ONGC seems to have consolidated well between Rs 995 and 1,020, says Salil Sharma, technical analyst, on CNBC Awaaz. It looks strong on the charts and can breakout today, he says. It is currently trading at Rs 1,008, down 0.4% on the BSE.

9:57 AM - The market has opened lower on Tuesday. Sensex is at 14,065, down 283 points from the previous close. Nifty is at 4260, down 71 points.

9:52 AM - Zee Entertainment will show a good move up only after it crosses Rs 240-245, says MB Singh, technical analyst, on Zee Business. An investor can hold it with a stoploss of Rs 180 and a very short term trader, of Rs 207, he suggests. The stock is at Rs 219.20, up 2.2% on the BSE.

9:47 AM - If the Nifty falls below 4275, then it might go down to 4240-4215, says Rajat Bose, technical analyst, on CNBC-TV18. Unless 4320 is not broken on the upside, one cannot say the strength is back in the market, he adds.

9:40 AM - The market may open a little weak today and trade may be volatile due to the Credit Policy announcement today, as well as F&o expiry this Thursday, says Prakash Gaba, technical analyst, on CNBC Awaaz. Stay away from banking stocks today, he suggests.

9:34 AM - Nifty seems to have taken good support at 4300 and may bounce from here today, says Salil Sharma, technical analyst, on CNBC Awaaz.



ninad avasare
Doubling Stocks