4:16 PM - With the world markets under pressure the effects were felt on the Indian market that crashed to new lows today. The terrible weekly figures are: Sensex was down 13.5%, Nifty down 17.5%. BSE Midcap index was down 12.5% and BSE Smallcap index down 16% over the week. BSE Realty index was down 25%, BSE Metal index down 12.4%, BSE Oil & Gas index down 15% and BSE Bankex was down 13%.

4:05 PM - It was a global meltdown today as markets across the world crashed - Germany down 11%, France down 10% and UK down 9% (technically UK is under recession as its GDP was down 0.5%). The Dow futures hit unit down and saw single massive sell off. Hong Kong slid to four-year lows. The pain was across Asia as well. For the Indian market it was the lowest closing for the Sensex and Nifty since 2005. Sensex shut shop at 8701, down 1070 points and Nifty at 2584, down 359 points from the previous close. CNX Midcap index was down 8.11% and BSE Smallcap index was down 7.66%. The market breadth was negative with advances at 87 against declines of 1196 on the NSE.

3:51 PM - This has been a dismal Black Friday closing today, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. There has been wave after wave of relentless selling for the past 10 weeks, something never seen before, he says. These are new lows for Nifty, the lowest low in three calendar years, he adds. The middle class has been slaughtered out of this market, he believes. Investors who had bought at higher levels can forget those levels, he says. But one can now put in 5% if one has the cash as current levels as it could offer some gains, he adds.

3:39 PM - It was a crash across global equity markets. It was mayhem on Dalal Street and the bloodiest day ever, a black Friday. Sensex closed at 8639, down 1131 points (provisional) and Nifty at 2557, down 385 points (provisional) from the previous close. CNX Midcap index was down 8.31% and BSE Smallcap index was down 7.76%. The market breadth was negative with advances at 108 against declines of 1172 on the NSE.

3:30 PM - There has been total capitulation in the market now and it has to stop falling at some time, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. There is opportunity in this market if one has the courage to go out and buy and has the cash, he says. In the metal space, Tata Steel and Hindalco can be bought for the long term, he adds.

3:25 PM - We were expecting things to get grim in the market but the pace has been surprising, says Sangeeta Purshottam of Religare Securities, on CNBC-TV18. Those who have long term portfolio's in mutual funds, there is little choice but to stay put as it is too late to sell, she says. One can wait for this mayhem to settle down and see opportunity in this market now, she adds.

3:21 PM - The market has seen a free fall and crashed horribly. The market is trading at the year's low. Sensex is trading at 8719, down 1051 points and Nifty is at 2584, down 359 points from the previous close. The market breadth is negative with advances at 91 against declines of 1189 on the NSE.

3:15 PM - Sell Kotak Bank with a target price of Rs 300-275, says Birendra Kumar Singh of Religare Securities, on CNBC Awaaz. Maintain a stop loss of Rs 382, he adds. The stock is currently trading at Rs 292, down 22.08% on the BSE.

3:08 PM - Opec has cut its production output by 1.5 million barrels per day, reports NDTV Profit. Crude is trading at record low of $64.83, down 4.44%.

3:01 PM - The Asians markets closed with deep cuts. The European markets continue to bleed badly. The Indian market has seen panic with relentless selling across the board. Sensex is trading at 8774, down 996 points and Nifty is at 2613, down 329 points from the previous close. CNX Midcap index is down 7.88% and BSE Smallcap index is down 7.15%. BSE Realty index is down 15%, BSE Bankex index down 13%, BSE Metal index down 12% and all sectoral indices are in the negative. The market breadth is negative with advances at 77 against declines of 1203 on the NSE.

2:52 PM - Sell Aban Offshore with a target price of Rs 650-575, says Birendra Kumar Singh of Religare Securities, on CNBC Awaaz. Maintain a stop loss of Rs 920, he adds. The stock is currently trading at Rs 805, down 10.97% on the BSE.

2:45 PM - The FIIs selling has been so overwhelming that there is total panic, says Raamdeo Agarwal, MD, Motilal Oswal Securities, on NDTV Profit. People are tired and there are no buyers now, he says. This market has eroded so much that there is no segment of buyer left and nobody has any cash left either, he adds.

2:37 PM - Sell Reliance Infrastructure with a target price of Rs 360, says Birendra Kumar Singh of Religare Securities, on CNBC Awaaz. Maintain a stop loss of Rs 448, he adds. The stock is currently trading at Rs 392, down 12.42% on the BSE.

2:29 PM - Kirloskar Brothers has bagged JV orders worth Rs 1446 crore, reports NDTV Profit. The stock is currently trading at Rs 86, up 6.10% on the BSE.

2:19 PM - RBI will infuse liquidity if necessary and continue to deploy conventional and unconventional tools to manage the situation, says Finance Minister P Chidambaram, on CNBC TV18. RBI has retained flexibility to act swiftly as and when required, he says. RBI leaves key rates steady and it is necessary to remain calm and confident to ride the crisis out, he feels. Our financial system is healthy and economic fundamentals strong and we are affected by the ripple effect of the global crisis, he adds. Once calm returns to the global markets we will return to our growth trajectory, he believes.

2:10 PM - No one knows where the bottom is and this is not the time to invest, says Ambareesh Baliga of Karvy Stock Broking on CNBC-TV18. One should stay out of this market as it cannot go down perennially, he feels. Once the market stops going down and starts rising, that is the time to get into quality stocks, he says. Over dependence on FIIs is also affecting our market and once the dust settles down globally, our market will outperform its global peers, he adds.

2:01 PM - The market continues to look bad. Sensex is trading at 8932, down 838 points and Nifty is at 2669, down 273 points from the previous close. CNX Midcap index is down 6.61% and BSE Smallcap index is down 5.85%. The market breadth is negative with advances at 103 against declines of 1168 on the NSE.

1:51 PM - The market may go down but it is not prudent to go short now, says Rajat Bose, technical analyst, on CNBC TV18. The next level to watch on Nifty is 2550, he feels. But this is not the time to do any bottom fishing, he adds.

1:43 PM - The market continues to look weak and it is difficult to say where the bottom is, says MB Singh, technical analyst, on Zee Business. Nifty support at 2500 is crucial and if that gets taken out it could go to 2200, he says. Long-term investors should now do staggered buying with a minimum one or two year outlook, he says. Once the market stabilizes it will go into a long and boring consolidation period of at least 6-8 months, which would be frustrating, he says. But investors will have to be patient and ride this long testing phase, he adds.

1:35 PM - Sensex slips below 9000 and Nifty below 2700. Sensex is trading at 8994, down 777 points and Nifty is at 2692, down 250 points from the previous close.

1:27 PM - Reliance Money has a 'buy' rating on Hero Honda with a target price of Rs 900, reports Zee Business. The stock is currently trading at Rs 738, down 2.54% on the BSE.

1:17 PM - The Asian markets have seen an extremely rough session and crashed. The European markets have opened weak. The Indian market is seeing a rout and bulls are on a rampage. Sensex plunges and is trading at 9130, down 641 points and Nifty is at 2730, down 212 points from the previous close. CNX Midcap index is down 5.42% and BSE Smallcap index is down 4.97%. The market breadth is negative with advances at 122 against declines of 1131 on the NSE.

1:10 PM - JM Financial has a 'buy' rating on ICICI Bank with a target price of Rs 1000, reports Zee Business. The stock is currently trading at Rs 337, down 7.6% on the BSE.

1:01 PM - Kotak Institution maintains 'reduce' rating on TCS, with target price Rs 650, reports CNBC-TV18. The stock is currently trading at Rs 530, down 3.2% on the BSE.

12:53 PM - Sterlite Industries can now take support at 190-195, says Aswnai Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 221.80, down 9.6% on the BSE.

12:45 PM - Metals are pulling the market down, says Ashwani Gujral, technical analyst, on CNBC Awaaz. And they still don't seem to be making any bottom, he adds. Metal stocks may have some supports, but downside risk still remains, he says.

12:37 PM - One can consider going long now, but do not hold or initiate new shorts now, says Sudarshan Sukhani, technical analyst, on CNBC-TV18.

12:29 PM - Sharekhan has a 'buy' rating on Elder Pharma, with a target price of Rs 406, reports CNBC Awaaz. The stock is currently trading at Rs 271, up 9.4% on the BSE.

12:19 PM - Among all the pivotals, Reliance Industries looks the weakest, says PN Vijay, Portfolio Manager, on CNBC-TV18. He prefers FMCG majors or L&T or even BHEL to RIL, as according to him, one doesn't know how these margins are going to move in next six months. RIL is currently trading at Rs 1,148, down 5.5% on the BSE.

12:11 PM - The fall is getting bigger and more important levels are being broken on the downside. Sensex fell below 9,000 and is currently trading at 9,140, down 639 points from the previous close. The 30-share index fell below 9,000 for the first time since June 14, 2006. Nifty is at 2727, down 216 points.

12:06 PM - Suzlon Energy is close to the support of Rs 62-65, so it has limited downside, says E Mathew, technical analyst, on CNBC-TV18. It may not be a 'buy' for now, but one can certainly hold it, he suggests. The stock is currently trading at Rs 63, down 18.9% on the BSE.

11:57 AM - The market looks oversold now and one can see some stability here in November, says Gautam Shah of JM Financial Services, on CNBC-TV18. He sees Sensex support at 9,000 and Nifty support at Rs 2650.

11:50 AM - Angel Broking has a 'buy' rating on Subros, with a target price of Rs 27, reports Zee Business. The stock is currently trading at Rs 19.40, down 1.8% on the BSE.

11:42 AM - The market, which expected a CRR cut in the Credit Policy today, is obviously disappointed and therefore fallen even more. Sensex is now at 9,212, down 558 points from the previous close. Nifty is at 2751, down 191 points. Interest rate sensitives like banks and realty stocks are seeing significant selling pressure. Metal stocks are down too.

11:36 AM - Keeping 25% as SLR and 6.5% as CRR provides strength to Indian banks, says the RBI, reports CNBC-TV18. Overall CAR of commercial banks is at 12.7% versus a minimum of 9%, it says.

11:29 AM - The RBI has announced the Credit Policy today. It has kept the CRR, Repo and Reverse Repo rates unchanged. Deposit growth rate has been maintained at 17.5%. GDP growth target has been revised to 7.5-8%. It has also retained inflation target of 7% by March 2009. Money supply target has been retained at 17%.

11:24 AM - HSBC has a 'buy' rating on RPL, with a target price of Rs 165, reports CNBC Awaaz. The stock is currently tarding at Rs 86.80, down 3.3% on the BSE.

11:19 AM - One can continue to hold HCL Technologies, as the company's numbers were good, says PK Agarwal of Bonanza Portfolio, on Zee Business. If you have a short term view, then look at exiting the stock at Rs 180 or so, he suggests. It is currently trading at Rs 144.85, down 3.5% on the BSE.

11:10 AM - It continues to be a weak day for the market. Sensex is at 9,364, down 407 points from the previous close. Nifty is at 2798, down 144 points. BSE Midcap index is down 3.2% and BSE Smallcap index is down 2.3%. All BSE sectoral indices are trading lower, with that for metal and realty being beaten down the most.

11:06 AM - The rupee may weaken further against the dollar and may fall to 52 per dollar, says Sudhanshu Pandey of LKP Shares, on CNBC Awaaz. Above this, even 54.90 per dollar is possible, he adds.

10:58 AM - In the telecom pack, Bharti Airtel looks like the safest bet, says says PN Vijay, Portfolio Manager, on CNBC-TV18. The stock is currently trading at Rs 577, down 6.3% on the BSE.

10:51 AM - HDFC Bank is a good buy at Rs 1,010, says PN Vijay, Portfolio Manager, on CNBC-TV18. The stock is currently trading at Rs 1,010, down 5.8% on the BSE.

10:45 AM - Angel Broking recommends 'buy' on Bajaj Electricals, with a target price of Rs 487, reports CNBC Awaaz. The stock is currently trading at Rs 325, down 4.8% on the BSE.

10:38 AM - The next support for Unitech will be at Rs 43, says E Mathew, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 55.95, down 9.5% on the BSE.

10:31 AM - Punj Lloyd is an exciting and a very good bet at this level, says PN Vijay, Portfolio Manager, on CNBC-TV18. The stock is currently trading at Rs 165.10, up 0.6% on the BSE.

10:24 AM - One should look at exiting Tata Steel At Rs 260-270, says Sudhanshu Pandey of LKP Shares, on CNBC Awaaz. But if it manages to close above Rs 270, then one may see a relief rally to Rs 330 here, he adds. The stock is currently trading at Rs 201.10, down 3.5% on the BSE.

10:17 AM - Aban Offshore is in a freefall zone, says E Mathew, technical analyst, on CNBC-TV18. It has next support at Rs 802 on a weekly chart. The stock is currently trading at Rs 907, up 0.3% on the BSE.

10:10 AM - Reliance Industries may see some shorting at Rs 1,300, says Sudhanshu Pandey of LKP Shares, on CNBC Awaaz. For a trend reversal it needs to close above Rs 1,400, he says. On the downside, it may see levels like Rs 800, he adds. It is currently trading at Rs 1,204.50, down 0.9% on the BSE.

10:03 AM - The market has opened lower on Friday. Sensex is at 9,547, down 224 points from the previous close. Nifty is at 2877, down 65 points.

9:59 AM - Sensex can make an important bottom between 9,700 and 9,300, says E Mathew, technical analyst, on CNBC-TV18. The corresponding levels on the Nifty would be 2850-2600, he adds.

9:51 AM - Sharekhan has a 'buy' rating on Orient Paper, with a target price of Rs 40, reports CNBC Awaaz. The stock is at Rs 21.95 on the BSE.

9:45 AM - The market may see some downside at the opening today too, says Sudhanshu Pandey of LKP Shares, on CNBC Awaaz. Do not put in fresh money in the market now; wait for it to stabilise first, he suggests. If you have to go short, then do so on bounces, he adds.

9:38 AM - The rupee has breached the 50 per dollar mark today, for the first time ever. It is currently at 49.91 per dollar.

9:31 AM - The Sensex has support at 9300 and one can expect a trading bounce today, says Anil Maghnani, technical analyst, on CNBC-TV18.

ninad avasare
Doubling Stocks