The Indian market outperformed

4:01 PM - The Indian market outperformed its global peers led by large caps. The rally was due to rise in bond prices, which led to gains across rate sensitive sectors like banking, auto and realty. Sensex closed at 14961, up 383 points and Nifty at 4502, up 107 points from the previous close. CNX Midcap index was up 1.66% and BSE Smallcap index was up 1.26%. BSE Realty index was up 6.5%, BSE Bankex index up 6.6% and BSE Auto index up 4%. The market breadth was strong with advances at 863 against declines of 402 on the NSE. Top Nifty gainers included HCL Technologies, ICICI Bank and DLF while losers included Sterlite Industries, Cairn and Tata Steel.

3:57 PM - Shree Renuka Sugars has resistance at Rs 145-156 and if it can cross that it will see a breakout and could move to Rs 168, says Gaurang Shah of Geojit Financials, on NDTV Profit. The stock can be bought at current levels and it is trading at Rs 132, up 0.11% on the BSE.

3:52 PM - Apollo Hospital has strong resistance at Rs 510 and if it can cross that with good volumes it will see a breakout and could move to Rs 627, says Anuj Dixit, technical analyst, on Zee Business. The stock is currently trading at Rs 490, up 0.86% on the BSE.

3:48 PM - Godrej Industries is in a sideways range and has resistance at Rs 190-205 where where one can book profits and exit, says Anuj Dixit, technical analyst, on Zee Business. One can buy more stock at Rs 150 for the long term, he advises. The stock is currently trading at Rs 182, down 0.14% on the BSE.

3:45 PM - Bartronics has a target price of Rs 249 in the long term, says Harit Shah of Angel Broking on CNBC-TV18. The stock is currently trading at Rs 178, up 0.42% on the BSE.

3:38 PM - The Asian markets closed in the negative while European markets were in the positive. The Indian market outperformed today and charted its own course. The market saw a good rally led by large caps and closed at the day's high. Sensex closed at 14960, up 382 points (provisional) and Nifty at 4508, up 112 points (provisional) from the previous close. CNX Midcap index was up 1.66% and BSE Smallcap index was up 1.29%. BSE Realty index was up 7%, BSE Bankex index up 6% and BSE Auto index up 4%. The market breadth was strong with advances at 862 against declines of 396 on the NSE.

3:30 PM - DLF has strong resistance at Rs 525, if it can cross that it will see a breakout at Rs 530 after which it can go to Rs 590 where one can book profits, says Anuj Dixit, technical analyst, on Zee Business. Maintain a stop loss of Rs 498, he advises. The stock is currently trading at Rs 532, up 3.59% on the BSE.

3:27 PM - Orbit Corporation and Mahindra Lifespace are the top picks in the real estate space, says Parag Shah of Sharekhan, on NDTV Profit. In the PSU banking space, Axis Bank and SBI look good, he adds.

3:25 PM - Hold Nifty with a revised stop loss of 4410 and a target of 4620, says E Mathew, technical analyst, on CNBC-TV18, as closing market strategy.

3:23 PM - Hold Nifty with a stop loss of 4445 and a target of 4560, says Vijay Bhambwani, technical analyst, on CNBC-TV18, as closing market strategy. Buy RPL with a stop loss of Rs 168 and target of Rs 178-180, he adds.

3:19 PM - Nifty is showing strength and has resistance at 4545-4565, says Gaurang Shah of Geojit Financials, on NDTV Profit. Nifty is likely to easily cross 4600 and one can stay bullish for a couple of more trading sessions, he adds.

3:13 PM - 3i Infotech has a target price of Rs 184, says Harit Shah of Angel Broking on CNBC-TV18. The stock is currently trading at Rs 113, down 0.62% on the BSE.

3:06 PM - RNRL has strong resistance at Rs 120 where one can book profits, says Anuj Dixit, technical analyst, on Zee Business. Maintain a stop loss of Rs 100, he advises. The stock is currently trading at Rs 105, up 1.68% on the BSE.

3:01 PM - The Asian markets are trading subdued while European markets are trading firm. The Indian market is seeing a good rally with buying in large cap stocks. Sensex is trading at 14940, up 362 points and Nifty is at 4495, up 100 points from the previous close. CNX Midcap index is up 1.69% and BSE Smallcap index is up 1.27%. BSE Bankex index and BSE Auto index are both up 6%. The market breadth is strong with advances at 886 against declines of 335 on the NSE.

2:56 PM - Pidlite is a buy at current levels with a target price of Rs 175-180 in 3 to 4 quarters, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 144, up 1.77% on the BSE.

2:50 PM - Interest rate will start coming down by early next year and inflation too will be under control by then, says Amitabh Chakraborty of Religare Securities, on CNBC-TV18. Also, crude oil price should come down to double-digits by the end of this year, he adds.

2:42 PM - The crude demand growth from India and China will plateau out in the coming months, says Jason Feer of Argus Media, on CNBC-TV18. So expect crude oil prices to be softer than in H1CY08, he adds. Sensex is trading at 14904, up 326 points and Nifty is at 4490, up 95 points from the previous close.

2:35 PM - ABB has a strong order book and looks like an attractive buy at current levels for the long term, says Ashish Kapoor, CEO, Investshoppe, on CNBC Awaaz. It is currently trading at Rs 835.10, up 1.19% on the BSE.

2:27 PM - IDBI is witnessing selling pressure and has resistance at Rs 90-95 where one can book profits and exit, says Anuj Dixit, technical analyst, on Zee Business. Maintain a stop loss of Rs 80, he advises. The stock is currently trading at Rs 89, up 9.20% on the BSE.

2:19 PM - Enam has an outperformer rating for Reliance Capital with a target of Rs 1744, reports CNBC TV18. The stock is currently trading at Rs 1384, up 3.11% on the BSE.

2:12 PM - Lupin has strong resistance at Rs 835 where one can book partial profits, says Anuj Dixit, technical analyst, on Zee Business. Maintain a stop loss of Rs 635, he advises. The stock is currently trading at Rs 752, down 0.64% on the BSE.

2:02 PM - The European markets are trading firm. The Indian market is trading at the day's high. Sensex is trading at 14768, up 190 points and Nifty is at 4454, up 59 points from the previous close. CNX Midcap index is up 1.31% and BSE Smallcap index is up 0.98%. BSE Bankex index is up 4% and BSE Auto index is up 3%. The market breadth is positive with advances at 854 against declines of 374 on the NSE.

1:59 PM - IFCI plans to create assets worth Rs 2000 crore, says Atul Rai, CEO and MD of the company, on NDTV Profit. The company plans to launch financial services business and venture capital fund soon, he says. The company posted profits of Rs 60 crore in FY09 on equity investments, he adds. The stock is currently trading at Rs 51, up 1.67% on the BSE.

1:51 PM - IFCI has resistance at Rs 55-56 where one can book partial profits, says Anuj Dixit, technical analyst, on Zee Business. Maintain a stop loss of Rs 49, he advises. The stock is currently trading at Rs 51, up 1.67% on the BSE.

1:42 PM - Expect steel prices to cool off by $100-150/ tonnes in next quarter, says Andrew Godwin of Steel Business Briefing, on CNBC TV18. Steel prices may fall by 5-7% in China and 20% in the USA, he adds. Sensex is trading at 14676, up 98 points and Nifty is at 4421, up 26 points from the previous close.

1:35 PM - The government's plan to regulate the iron ore sector will be a positive move for the steel companies, says Nitin Johri, CFO of Bhushan Steel, on CNBC TV18. The coking oil prices are expected to increase by 200% while steel companies may maintain prices going forward, he adds. The stock is currently trading at Rs 915, down 3.56% on the BSE.

1:27 PM - PFC has resistance at Rs 138-140 and one can buy more stock at around Rs 120-124, says Anuj Dixit, technical analyst, on Zee Business. Maintain a stop loss of Rs 110 for those holding long positions, he advises. The stock is currently trading at Rs 138, up 3.51% on the BSE.

1:15 PM - The sentiment is changing and we had estimated Sensex earnings at 10.7% for this quarter, says Amitabh Chakraborty of Religare Securities, on CNBC TV18. The Sensex earnings have been a positive surprise and have grown 15.8% for this quarter, he adds.

1:07 PM - The Asian markets have slipped ahead of the big US Fed meeting tonight. The Indian market is outperforming its Asian peers and is holding out. Sensex is trading at 14600, up 22 points and Nifty is at 4400, up 5 points from the previous close. CNX Midcap index is up 0.64% and BSE Smallcap index is up 0.49%. The market breadth is positive with advances at 777 against declines of 434 on the NSE.

12:58 PM - One can continue to hold ONGC unless it falls below it short to medium term support of Rs 910, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. On the upside, it will face major resistance at Rs 1,100, he adds. But once this is crossed decisively, there will be atleast 15% upside, he adds. It is currently trading at Rs 986.50, up 0.5% on the BSE.

12:51 PM - Balaji Telefilms can be a good buy at Rs 187-184, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. Once it moves above Rs 200, one can expect Rs 214-220 here, he adds. It is currently trading at Rs 187.55, up 5.5% on the BSE.

12:43 PM - The market is setting up for a major rally from the current levels, says Gautam Shah of JM Financial Services, on Zee Business. One can expect 700-900 point rally on the Sensex in the next couple of weeks, he adds. So the Sensex can go up to 15,300 and Nifty, to 4680, he says. So one can initiate long positions now, he suggests.

12:34 PM - Bajaj Hindusthan seems to have made a good bottom formation at Rs 149-155, says E Mathew, technical analyst, on CNBC-TV18. But it needs to move above Rs 195-198 to prove that this is more than just a pullback rally, he adds. It is currently trading at Rs 170.50, up 1% on the BSE.

12:25 PM - The Fed is likely to sound neutral, as inflation pressures are still firm, says Glenn Maguire of Societe General, on CNBC-TV18. He expects the Fed rates to remain unchanged at 3%. In fact, one may not see any Fed tightening before Q2CY09, he says. The FOMC is to meet tonight.

12:18 PM - The market has lost its gains and is again trading in the negative terrain. Sensex is at 14,563, down 14 points from the previous close. Nifty is at 4389, down 6 points. But CNX Midcap index is up 0.9% and BSE Smallcap index, up 1.1%. Banks, auto, FMCG and realty stocks are seeing buying coming in, while metal and IT stocks are being dumped.

12:09 PM - Petronet LNG has long term support at Rs 42-40, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. On the upside, it will face resistance at Rs 68-72, he says. and if this level is crossed decisively, with good volumes, then in the next 6-8 quaters, the stock can move up to its earlier highs, he adds. It is currently trading at Rs 64.40, up 1.2% on the BSE.

12:04 PM - Bannari Amman Sugars can move up to Rs 1,800 in the next two years or so, says Rajen Shah of Angel Broking, on CNBC-TV18. The stock is currently trading at Rs 948.85, up 4.9% on the BSE.

11:57 AM - Bata seems to have moved into stronger hands now, says E Mathew, technical analyst, on CNBC-TV18. It will face huge resistance at Rs 164, but once this is crossed, it can go up to Rs 185-195, he adds. It is currently trading at Rs 168, down 0.4% on the BSE.

11:49 AM - Investors should avoid BPCL, as it can be a wealth-destroyer in the long term, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has short to mid term support at Rs 300 and if crude corrects from here or stabilises here, then it can move up to Rs 365, he adds. It is currently trading at Rs 333.70, up 1.9% on the BSE.

11:41 AM - MRPL can go up to Rs 85-90 in the coming months, where one should book profits and switch to Petronet LNG, where gains will come in faster, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Long term support for MRPL comes in at Rs 55, he adds. It is currently trading at Rs 77.30, up 2.8% on the BSE.

11:33 AM - GAIL has a long term target (4-6 quarters) of Rs 465, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. So one can remain invested in the stock as long as it holds the support of Rs 325, he suggests. It is currently trading at Rs 395.95, up 2.8% on the BSE.

11:24 AM - One can expect downgrades in the auto sector, apart from Hero Honda, says Sanjeev Prasad, Head - Research, Kotak Securities, on CNBC-TV18. The stock is currently at Rs 810.15, up 1.9% on the BSE.

11:16 AM - One can expect 16.6% earnings growth for Sensex companies, says Sanjeev Prasad, Head - Research, Kotak Securities, on CNBC-TV18. But otherwise, Q1 results have been reasonable, ahead of most expectations, he adds.

11:08 AM - The market has recovered and gaining further strength now. Sensex is at 14,684, up 106 points from the previous close. Nifty is at 4420, up 24 points. CNX Midcap index is up 1.5% and BSE Smallcap index, up 1.2%. All BSE sectoral indices, but that for metals and IT, are trading higher. Interest rate sensitives like banking and realty stocks are seeing significant buying interest.

11:03 AM - Bongaigaon Refinery should be bought on dips, as the stock can achieve much more ambitious targets from here, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. It is currently trading at Rs 68.35, up 2.2% on the BSE.

10:54 AM - SAIL looks slightly weaker than Tata Steel, but still good, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock has a target price of Rs 165-175, he adds. It is currently trading at Rs 147.30, down 2.6% on the BSE.

10:47 AM - BPCL seems to be volatile and have no sense of direction as of now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. It is best to avoid it as of now, he suggests. The stock is currently trading at Rs 333.70, up 1.9% on the BSE.

10:37 AM - Sterlite Industries is a good long term bet and one should certainly buy the stock on dips, says Amitabh Chakraborty of Religare Securities, on CNBC-TV18. It is currently trading at Rs 599.70, down 3.9% on the BSE.

10:29 AM - Ranbaxy open offer will open on August 16 and close on September 4, reports CNBC-TV18. The stock is currently trading at Rs 533.50, up 1.8% on the BSE.

10:25 AM - SRF seems to be begining its own bull run, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. Buy the stock on dips; it will see much higher levels going ahead, he says. It is currently trading at Rs 150.80, up over 7% on the BSE.

10:17 AM - One can look at buying Ranbaxy only close to Rs 520 or so, as above this, it has a target of Rs 560-570, says Salil Sharma, technical anlayst, on CNBC Awaaz. The stock is currently trading at Rs 536, up 2.3% on the BSE.

10:10 AM - Tata Steel has 1-1.5 months' target of Rs 845, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. It has good support at Rs 575-600, he adds. The stock is currently trading at Rs 683, down 1.3% on the BSE.

10:03 AM - HCC seems to be building a base and standing on the verge of an upside breakout, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 99.80, up 1.3% on the BSE.

9:57 AM - The market has opened weak on Tuesday. Sensex is at 14,562, down 15 points from the previous close. Nifty is at 4383, down 12 points.

9:53 AM - The market may open weak today on back of bad global cues, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The Sensex may go towards the low of 14,370, he adds. But the scene may change in the afternoon and the market may show good recovery, trying to cross yesterday's highs, he adds.

9:46 AM - The intermediate trend of the market remains up, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. Traders should now look at buying on dips, he suggests. The targets seem to be a little confusing, therefore focus on strategies to be used in this market, he adds.

9:40 AM - Tata Steel looks the best in the steel pack for now as its breakout above Rs 680 yesterday was a positive move for the stock, says Salil Sharma, technical anlayst, on CNBC Awaaz. Its immediate target is Rs 780 now, he adds. The stock is at Rs 691.75, up 1.6% on the BSE.

9:33 AM - The Nifty may take support at 4350 and face resistance at 4480, says Salil Sharma, technical anlayst, on CNBC Awaaz. It may open lower today, but will recover soon after that, he says.

ninad avasare
Doubling Stocks