4:00 PM - It was a bad day for the Indian market that closed in line with its Asian peers. Sensex closed below 10000 and Nifty below 3000, wiping out gains of yesterday's rally. Sensex shut shop at 9839, down 696 points and Nifty is at 2938, down 209 points from the previous close. CNX Midcap index was down 3.83% and BSE Smallcap index was down 2.51%. All sectoral indices closed in the negative, BSE Realty index was down 10%, BSE Metal index down 8%, BSE Power index down 7% and BSE Bankex index down 6%. The market breadth was negative with advances at 266 against declines of 996 on the NSE.

3:55 PM - Sell Tata Power with a target of Rs 720, says Hemen Kapadia, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 780, he adds. The stock is currently trading at Rs 752, down 6.9% on the BSE.

3:50 PM - Buy Great Eastern Shipping with a target of Rs 245-275, says Sanjeev Agarwal, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 200, he adds. The stock is currently trading at Rs 218, down 0.75% on the BSE.

3:47 PM - Buy Vijaya Bank with a target of Rs 34-37, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 30, up 3.1% on the BSE.

3:43 PM - The market is likely to trade weak tomorrow as well, says Vijay Bhambwani, technical analyst, on CNBC-TV18. Suzlon is a buy on declines and sell on rallies, he adds. The stock is currently trading at Rs 59, down 13.27% on the BSE.

3:39 PM - European markets continue to look bad. The Asian markets closed with deep cuts. It was a terrible day for the Indian market as well. Sensex closed at 9804, down 731 points (provisional) and Nifty is at 2923, down 224 points (provisional) from the previous close. CNX Midcap index was down 3.77% and BSE Smallcap index was down 2.55%. All sectoral indices closed in the negative with metal and realty stocks being pounded down. The market breadth was negative with advances at 265 against declines of 989 on the NSE.

3:35 PM - Book partial profits in Nifty short position and hold the remaining with stop loss of 3032, says Rajat Bose, technical analyst, on CNBC-TV18, as closing market strategy.

3:31 PM - Hold Nifty short with stop loss of 3010 and target of 2860, says Ashwani Gujral, technical analyst, on CNBC-TV18, as closing market strategy.

3:26 PM - Sell ONGC with a target of Rs 723, says Hemen Kapadia, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 770, he adds. The stock is currently trading at Rs 746, down 7.35% on the BSE.

3:22 PM - Buy Bombay Dyeing with a target of Rs 242-280, says Sanjeev Agarwal, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 168, he adds. The stock is currently trading at Rs 203, down 7.95% on the BSE.

3:19 PM - Sell NTPC with a target of Rs 144, says Hemen Kapadia, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 158, he adds. The stock is currently trading at Rs 152, down 5.8% on the BSE.

3:13 PM - This was a rally of hope than that with any strong legs, says Vijay Bhambwani, technical analyst, on CNBC-TV18. This was a short covering rally and now the crucial level to watch out for is 2850-2880 on Nifty, he says. If 2850 is breached then Nifty is likely to go to 2675, he adds.

3:08 PM - The market rally was overdone with the positive news of the Chinese fiscal package, says Sajeev Dhavan of JV Capital Services, on CNBC TV18. But there is complete lack of buyers at lower levels, he says. This is still a trader's market with sell on rallies, he adds.

3:02 PM - The market is looking bad today. Sensex is trading at 9843, down 692 points and Nifty is at 2938, down 209 points from the previous close. CNX Midcap index is down 3.76% and BSE Smallcap index is down 1.97%. Metals stocks have got butchered today, the BSE Metal index is down 8%. The market breadth is negative with advances at 255 against declines of 991 on the NSE.

2:57 PM - Karvy Stock Broking maintains a buy call on Gateway Distripaks with a target of Rs 98 in 8-12 months, reports Zee Business. The stock is currently trading at Rs 71, down 6.63% on the BSE.

2:53 PM - Kotak Securities maintains a buy call on Zee Entertainment with a target of Rs 205, reports CNBC Awaaz. The stock is currently trading at Rs 128, down 11.49% on the BSE.

2:48 PM - Pinc Research maintains a buy call on Unity Infra with a target of Rs 375 in 8-12 months, reports Zee Business. The stock is currently trading at Rs 148, down 9.8% on the BSE.

2:42 PM - Tata Steel has support at Rs 150, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Unless the stock goes beyond Rs 275, it will not gain momentum, he adds. The stock is currently trading at Rs 194, down 9.21% on the BSE.

2:35 PM - Recession cannot be avoided at this point, says Arnab Das of Dresdner on NDTV Profit. Government and central banks cannot fully offset the downtrend, he says. Rate cuts and fiscal package will help normalise credit market, he adds. But there is a need to prepare ourselves for a global economic slowdown, he feels.

2:29 PM - If Nifty breaks 2932 it could go down to 2860, says Anil Maghnani, technical analyst, on CNBC TV18. If Nifty breaks below 2860 then it could head for 2750, he adds.

2:21 PM - The crucial level to now watch for is 2960 on the Nifty, says Neppollian Pillai, technical analyst, on CNBC TV18. If that level does not hold, then below that everything will fall apart, he adds.

2:14 PM - Nifty saw recovery in the range of 2100-2700 and is now showing signs of exhaustion, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The crucial level to watch on the Sensex is 9630 and 2830 on the Nifty, he says. If these crucial levels are breached then the market could retest previous lows, he adds.

2:04 PM - The European markets have opened weak. Weak global cues adding pressure to the Indian market that is trending lower. Sensex is trading at 9997, down 538 points and Nifty is at 2990, down 157 points from the previous close. CNX Midcap index is down 2.67% and BSE Smallcap index is down 1.94%. BSE Realty index is down 7% and BSE Metal index is down 6.6%. The market breadth is negative with advances at 272 against declines of 948 on the NSE.

1:55 PM - Emkay Shares and Securities maintains a buy call on Ipca Labs with a target of Rs 637 in 8-12 months, reports Zee Business. The stock is currently trading at Rs 433, up 8.38% on the BSE.

1:49 PM - Bhushan Steel has good support at Rs 525, but will face resistance at Rs 785, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It needs to move beyond the resistance level with good volumes to breakout, he adds. The stock is currently trading at Rs 710, up 0.57% on the BSE.

1:43 PM - Angel Stock Broking maintains a buy call on Madhucon Projects with a target of Rs 151 in 8-12 months, reports Zee Business. The company has an order book of Rs 4850 crore. The stock is currently trading at Rs 54, up 4.92% on the BSE.

1:43 PM - Angel Stock Broking maintains a buy call on Madhucon Projects with a target of Rs 151 in 8-12 months, reports Zee Business. The company has an order book of Rs 4850 crore. The stock is currently trading at Rs 54, up 4.92% on the BSE.

1:35 PM - Hold GTL Infra as it has resistance at Rs 58 where one can book profits, says Amarjeet Singh, technical analyst, on Zee Business. The stock has support at Rs 34 and is currently trading at Rs 37.5, down 3.96% on the BSE.

1:29 PM - Buy RIL as it has resistance at Rs 1400 and then it could go to Rs 1700, says Hardik Jain, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1216, down 6.68% on the BSE.

1:23 PM - Angel Stock Broking maintains a buy call on Lanco Infra with a target of Rs 320, reports Zee Business. The stock is currently trading at Rs 175, down 3.46% on the BSE.

1:15 PM - Hold ICICI Bank as it has resistance at Rs 600-625, says Hardik Jain, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 442, down 6% on the BSE.

1:09 PM - Karvy Stock Broking maintains a buy call on Eid Parry with a target of Rs 230, reports Zee Business. The stock is currently trading at Rs 166, down 2.32% on the BSE.

1:01 PM - The Asian markets are trading weak. The Indian market has slipped below crucial support levels - Nifty is trading below 3000 and Sensex below 10000. Sensex is trading at 9979, down 556 points and Nifty is at 2985, down 163 points from the previous close. CNX Midcap index is down 2.55% and BSE Smallcap index is down 1.66%. Realty, capital goods, oil and gas, and metal stocks are taking the market down. The market breadth is negative with advances at 316 against declines of 858 on the NSE.

12:54 PM - Merrill Lynch has a 'buy' rating on Reliance Industries, with a target price of Rs 1,927, reports CNBC Awaaz. The stock is currently trading at Rs 1,216.35, down 6.7% on the BSE.

12:47 PM - Chambal Fertilisers will face some resistance at Rs 50-55, but once it moves above this, it will show a strong upmove, says Rajat Bose, technical analyst, on CNBC-TV18. But on the downside, if it falls below its support level of Rs 46, then exit the stock, he suggests. It is currently trading at Rs 46.60, down 8% on the BSE.

12:40 PM - Enam Securities recommends 'buy' on Yes Bank, with a target price of Rs 150, reports CNBC-TV18. The stock is currently trading at Rs 80, down 5.1% on the BSE.

12:33 PM - Wait for Canara Bank to fall by another Rs 20 or so to start buying, but in a staggered way, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 190, down 4.6% on the BSE.

12:25 PM - Look at buying Tata Motors close to Rs 132-130, if you have a view of 3 years or so, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 159.25, down over 6% on the BSE.

12:18 PM - Earnings across Asia, including India, are likely to fall by at least 20% in FY10, says Mark Matthews, Chief Asia Strategist, Merrill Lynch, on CNBC-TV18. In India, the good part of earnings next year will come from one single company, Reliance, he says. Other than that, Indiaÿs earnings growth will pretty much be in line with the rest of the region, he adds.

12:10 PM - The market has weakened further. Sensex is at 10,028, down 507 points from the previous close. Nifty is at 3011, down 136 points. Realty, capital goods, oil & gas, banking and power stocks are the laggards today. Top losers on the Sensex include JP Associates, Sterlite Industries, Hindalco, Tata Motors and Reliance Industries.

12:06 PM - Nalco has good support at Rs 110 and will face resistance at Rs 245, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 187.70, up 1.4% on the BSE.

12:00 PM - Continue to hold Fortis Healthcare for now; in another 4-6 quarters, it can trade in 3-digits, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 55 and will face resistance at Rs 78, he says. The stock is currently trading at Rs 68.55, down 2.8% on the BSE.

11:53 AM - SMC Global has a 'buy' rating on Praj Industries, with a target price of Rs 100, reports CNBC Awaaz. The stock is currently trading at Rs 86.50, up 2.4% on the BSE.

11:46 AM - One can buy IDFC at current levels, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It can go up to Rs 85-88, where it will face some resistance , he says. But if you can give it 6-8 qarters' time, it can give huge gains, he adds. The stock is currently trading at Rs 66.70, down 4.8% on the BSE.

11:38 AM - Tata Chemicals will face some resistance at Rs 190, but once this is crossed, it can go up to Rs 250-260, says Sanjeev Agarwal, technical analyst, on Zee Business. The stock is currently trading at Rs 172.90, down 1.6% on the BSE.

11:31 AM - The market is close to support zones, so shorting at current levels is not advisable, says Gautam Shah of Jm Financial Services, on CNBC-TV18.

11:24 AM - SMC Global has a 'buy' rating on Alstom Projects, with a target price of Rs 330, reports CNBC Awaaz. The stock is currently trading at Rs 280, down 1.9% on the BSE.

11:16 AM - Suzlon will face resistance at Rs 80, where profits can be booked, says Sanjeev Agarwal, technical analyst, on Zee Business. Look at buying the stock again, close to Rs 60-55, he suggests. It is currently trading at Rs 65.50, down 5% on the BSE.

11:08 AM - The market is still trading down. Sensex is at 10,142, down 393 points from the previous close. Nifty is at 3045, down 103 points. BSE Midcap index is down 1.4% and BSE Smallcap index, down 1.1%. Healthcare stocks are seeing some buying, but realty, capital goods and metal stocks are giving up the gains they made yesterday.

11:03 AM - Continue to hold Reliance Capital for now, says Sanjeev Agarwal, technical analyst, on Zee Business. It can go up to Rs 1,000, he adds. The stock is currently trading at Rs 663.90, down 5.3% on the BSE.

10:55 AM - Sensex wil remain in the 8,800-10,800 range before breaking down again, says Gautam Shah of JM Financial Services, on CNBC-TV18. Sensex resistance is at 10,800; beyond this, it can go up to 11,300 maximum, he adds. The market could re-test and break slightly below October lows by January 2009, he says.

10:47 AM - Suzlon will face resistance at Rs 70-71, says Rajat Bose, technial analyst, on CNBC-TV18. Above this, it can go up to Rs 74-78, he adds. It has support at Rs 66, he says. The stock is currently trading at Rs 66.75, down 3.2% on the BSE.

10:39 AM - TTML will face resistance at Rs 18-20, says Rajat Bose, technial analyst, on CNBC-TV18. But unless it crosses Rs 21, do not expect much from this stock, he says. It is currently trading at Rs 17, down 4% on the BSE.

10:31 AM - India Infoline recommends HDFC, with a target price of Rs 2,012, reports CNBC Awaaz. The stock is currently trading at Rs 1,708, down 3.7% on the BSE.

10:24 AM - Cairn India has another 15-20% upside potential from here, Hardik Jain of ISJ Securities, on CNBC Awaaz. The stock is at Rs 153.40, down 3.6% on the BSE.

10:17 AM - Praj Industries needs to sustain above Rs 87 for the rally to continue, says Rajat Bose, technial analyst, on CNBC-TV18. On the downside, if it falls below Rs 79, exit the stock, he suggests. It is currently trading at Rs 87, up over 3% on the BSE.

10:09 AM - One can look at Idea Cellular from a trading persective for now, says Hardik Jain of ISJ Securities, on CNBC Awaaz. It can go up to Rs 68-70, where one can book profits in it, he suggests. But for the long term, prefer Bharti Airtel, he adds. Idea is at Rs 51.05, down 1.7% on the BSE.

10:02 AM - The market has opened slightly lower on Tuesday. Sensex is at 10,363, down 172 points from the previous close. Nifty is at 3103, down 44 points.

9:55 AM - It will be a crucial day for the market and one needs to watch the levels of 3077 and 3022 on the Nifty on the downside today, says Rajat Bose, technical analyst, on CNBC-TV18. On the upside, it needs to cross 3189, he adds. Above this, it will head to 3228 and then 3246, he adds. But it will face strong resistance at 3246-3335, he says. Trade light unless a clear trend emerges, he suggests.

9:49 AM - ICICI Bank will face strong resistance at Rs 550-600, where profits can be booked, says Hardik Jain of ISJ Securities, on CNBC Awaaz. The stock is at Rs 471.10 on the BSE.

9:43 AM - ONGC can go maximum up to Rs 900 from here, says Hardik Jain of ISJ Securities, on CNBC Awaaz. The stock is at Rs 805.75 on the BSE.

9:34 AM - The Nifty is facing very strong resistance at 3250-3300, says Hardik Jain of ISJ Securities, on CNBC Awaaz. If it manages to cross this, the the next resistance will be at 3600-3650, he adds. Unless it moves above this, one cannot say that the bear phase correction is over, he says. He therefore suggests reducing long exposures on rises and wait for the market to correct to buy again.

ninad avasare
Doubling Stocks