sarwesh

Tuesday, 1 July

3:53 PM - The market seems to be making new 2008-lows everyday now. Key indices broke psychologically important levels today, which indicates further downside. Sensex ended the day at 12,961, down 499 points from the previous close. Nifty shut shop at 3896, down 143 points. CNX Midcap index lost 4.7% and BSE Smallcap index, 4.8%. All BSE sectoral indices closed in the negative, with rate sensitives like realty, banking, auto being beaten down the most, along with metals. Biggest losers on the Sensex include Reliance Infrastructure, Reliance Communications and Mahindra & Mahindra, while NTPC is the gainer. » Send to friends

3:44 PM - The market may bottom out close to 12,800 or 12,300 on the Sensex, says Deven Choksey of KR Choksey Securities, on CNBC Awaaz. So one can look at buying close to these levels, he suggests. Look at largecaps like Reliance Industries, L&T, etc, as they are available at attractive prices, he adds. » Send to friends

3:39 PM - The bull market is not over yet; this is just a viscious correction in a bull market, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The Nifty may find support at 3640 now, he adds. » Send to friends

3:33 PM - It was another day when the market broke psychologically important levels. Sensex ended at 12,904, down 557 points (provisional) from the previous close. Nifty shut shop at 3881, down 158 points (provisional). » Send to friends

3:27 PM - Avoid aggressive trading in the market now, says Anil Maghnani, technical analyst, on CNBC-TV18. Next major support for the Nifty is at 3730 and for the Sensex, at 12,550, he says. » Send to friends

3:20 PM - Book profits in Nifty short positions, says Rahul Mohindar, technical analyst, as market closing strategy, on CNBC-TV18. The next major supports for the Nifty will come at 3850 and 3760, he adds. » Send to friends

3:14 PM - Selling may continue till October in Indian markets, says Robin Griffiths, technical analyst, on NDTV Profit. Nifty may slip to 3600 and Sensex, to 12,000, he adds. A modest rally in the near term will be seen as a selling opportunity, he says. » Send to friends

3:07 PM - Key indices in the market have broken important levels again today. Sensex is trading below 13,000 at 12,934, down 524 points from the previous close. Nifty is below 3900, at 3886, down 154 points. » Send to friends

3:01 PM - SBI is close to strong support levels now, says Salil Sharma, technical analyst, on CNBC Awaaz. Short covering may take the stock to Rs 1,220-1,225, where one can look to exit, he says. So continue to hold the stock for at least 3 months, he suggests. It is currently trading at Rs 1,052, down over 5% on the BSE. » Send to friends

2:52 PM - One can accumulate Suzlon between Rs 180 and Rs 160, says Rahul Mohindar, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 194.65, down 9.8% on the BSE. » Send to friends

2:45 PM - Varun Shopping is not only a hold, but also 'buy-on-dips', says market expert, Ashish Kukreja, on Zee Business. It is a good stock to hold in the shipping sector, he adds. It is currently trading at Rs 63.30, down 3.5% on the BSE. » Send to friends

2:38 PM - PINC Research recommends 'buy' on IRB Infrastructure Developers, with a 12-month target price of Rs 246, reports CNBC-TV18. It is currently trading at Rs 145, down 6.8% on the BSE. » Send to friends

2:30 PM - The market is seeing a sudden bout of selling pressure. Sensex is now at 13,079, down 382 points from the previous close. Nifty is at 3919, down 121 points. » Send to friends

2:27 PM - One can accumulate ITC at Rs 185-180, says Rahul Mohindar, technical analyst, on CNBC-TV18. Expect 30% returns in a year's time, he adds. It is currently trading at Rs 185.45, down 0.8% on the BSE. » Send to friends

2:20 PM - Dena Bank is one of the better stocks in the PSU space, says market expert, Ashish Kukreja, on Zee Business. The valuations are not that streched, he adds. So one can continue to hold the stock for the long term, he says. It is currently trading at Rs 39.30, down 2.4% on the BSE. » Send to friends

2:12 PM - Nifty may find support at 3930-3960 now, says Jatinder Sharma of Equity Strategies, on CNBC Awaaz. But seeing the downward momentum and no largecap being in a condition to help the market, this support too can be broken, he adds. » Send to friends

2:04 PM - Flows are mixed at the institutional desk, but selling is seen more in largecaps, say dealers, reports CNBC-TV18. There's some buying interest in largecaps by long only funds though. Redemption pressure is feared at most of the India dedicated fund, they say. Dealers expect another 5-7% fall from the current levels. » Send to friends

1:57 PM - Oil companies can cope with demand growth of 8-10%, says HPCL, reports CNBC-TV18. If demand grows by 20%, then there will be fuel supply crunch, it says. » Send to friends

1:50 PM - European markets are trading lower. Indian market too is in the negative terrain; Sensex is at 13,267, down 194 points from the previous close. Nifty is at 3974, down 66 points. » Send to friends

1:43 PM - Markets in the next 15 days may touch lower levels, says SA Narayan, MD, Kotak Securities, on CNBC-TV18. Some midcap stocks are expected to correct 15% from current levels, he adds. » Send to friends

1:32 PM - The Sensex may bottom at around 12,000 and the Nifty at 3800 levels, says Amitabh Chakraborty of Religare Securities, on CNBC-TV18. The swing could be around 400-500 on either side, he adds. » Send to friends

1:24 PM - If the Nifty is not able to hold between 4000 and 3940, then one may see it fall to 3800 levels, says E Mathew, technical analyst, on CNBC-TV18. » Send to friends

1:14 PM - BGR Energy has secured 600 MW EPC contract from Tamil Nadu Electricity Board. The stock is currently trading at Rs 222, up 0.05% on the BSE. The stock touched an intra-day high of Rs 238.50 in trade so far. » Send to friends

1:07 PM - Sensex is currently trading at 13,274, down 187 points from the previous close. Nifty is at 3975, down 64 points. » Send to friends

12:58 PM - Sharekhan has a 'buy' rating on Bharat Electronics, with a target price of Rs 1,610, reports CNBC-TV18. The stock is currently trading at Rs 1,000, down 1.5% on the BSE. » Send to friends

12:50 PM - India valuations are still high, as they don't price in macro risks sufficiently, says Goldman Sachs, reports CNBC-TV18. » Send to friends

12:42 PM - There's further downside for realty companies, says Gulbir Madan of Brahma Management, on NDTV Profit. BSE Realty index is the biggest loser for now, trading down 4.7%. » Send to friends

12:35 PM - One can bottom fish in capital goods and banking sectors, says Anil Maghnani, technical analyst, on Zee Business. He recommends stocks like BHEL, L&T and SBI. But avoid realty for now, as there isn't much visibilty in earnings, he suggests. » Send to friends

12:27 PM - Voltas has resistance at Rs 150 and may take support at Rs 115, says Hormuz Maloo of Geojit Financial Services, on NDTV Profit. It is in a downtrend and one should look to exit this counter, he says. It is currently trading at Rs 119.50, down 3.4% on the BSE. » Send to friends

12:18 PM - ACC is in a downtrend and will face reisstance at Rs 650, says Hormuz Maloo of Geojit Financial Services, on NDTV Profit. The stock is currently trading at Rs 522.35 on the BSE. » Send to friends

12:10 PM - Angel Broking has upgraded Tata Steel to 'buy' rating, with a target of Rs 875, reports CNBC-TV18. The stock is currently trading at Rs 732, up 0.5% on the BSE. » Send to friends

12:02 PM - Sensex is at 13,397, down 63 points from the previous close. Nifty is at 4007, down 32 points. Market breadth is extremely weak, with just 210 advances agains 1,005 declines on the NSE. » Send to friends

11:56 AM - Bank of Baroda has support at Rs 175, from where it can bounce to Rs 240-255, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. If one wants to invest in it for the long term, buy on dips, he suggests. It is currently trading at Rs 201, down 1.1% on the BSE. » Send to friends

11:50 AM - Gammon India seems to be in a downtrend and will face resistance at Rs 300, says Hormuz Maloo of Geojit Financial Services, on NDTV Profit. The stock is currently trading at Rs 208.75, down 3.5% on the BSE. » Send to friends

11:42 AM - Power Grid has support at Rs 62 and resistance at Rs 90-92, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. In the short to medium term, the stock can test an investor's patience, but in 6-8 quaters, it can give 50-75% returns, he says. The stock is at Rs 76.90, down 1.1% on the BSE. » Send to friends

11:34 AM - Mahindra & Mahindra has suport at Rs 450 and resistance at Rs 565, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. There isn't much mometum seen in this stock in the medium term, so if you wish to invest in this counter, have a long term view, he suggests. The stock is currently trading at Rs 479, down 1.3% on the BSE. » Send to friends

11:26 AM - ACC has support at Rs 435 and resistance at Rs 600-625, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is at Rs 528.70, up 1.2% on the BSE. » Send to friends

11:15 AM - It is too early to buy and too late to sell in equity markets, says Gulbir Madan, Partner, Brahma Management, on NDTV Profit. So the house is currently long on Nifty Puts, he says. It is also buying RIL, RPL, DLF and L&T at current levels, he adds. Sensex FY09 EPS is seen at Rs 900, he says. » Send to friends

11:15 AM - Enam has maintained 'outperformer' rating on Reliance Industries; with a target of Rs 2,900, reports CNBC-TV18. The stock is currently trading at Rs 2,133, up 1.9% on the BSE. » Send to friends

11:08 AM - One may see more downside in the market from the current level, says Manishi Raychaudhuri of UBS, on NDTV Profit. FY09 earnings growth may be at 15% versus 19% earlier, he adds. » Send to friends

11:01 AM - The market is traing in the positive terrain. Sensex is at 13,542, up 80 points from the previous close. Nifty is at 4046, up just 6 points. CNX Midcap is down over 1% and BSE Smallcap index, down 1.6%. Oil & gas, IT and banking stocks are seeing some buying interest, while realty stocks are still being dumped. » Send to friends

10:55 AM - There's minimal or no fresh buying, but no desparate selling either, says SA Narayan of Kotak Securities, on CNBC-TV18. There's complete lack of confidence among investors, he adds. Retail and HNI clients are inclined towards safer options now, he says. » Send to friends

10:47 AM - One can look to buy Reliance Industries, RPL and NTPC aggresively for a bounce, says Anil Maghnani, technical analyst, on NDTV Profit. As defensive bets, look at buying IT stocks, and in pharma, Cipla, he adds. Avoid realty stocks, but one can buy SBI and BHEL, he suggests. Prefer buying largecaps now, as value based buying will first come here, he adds. » Send to friends

10:40 AM - If ACC falls below Rs 500, then it can go down to Rs 400-390, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is at Rs 518.50,down 0.8% on the BSE. » Send to friends

10:32 AM - Goldman Sachs has lowered its 12-month target for most Asian indices, by 10-15%, reports NDTV Profit. It has a 12-month forecast of 12,600 for the Sensex. » Send to friends

10:25 AM - Nifty has fallen below 4000, correcting 37% from its all-time high of 6,357, reports CNBC-TV18. The 50-share index has fallen below 4000, for the first time since May 11, 2007. It is currently at 4002. » Send to friends

10:20 AM - Hindalco has support at Rs 139-125, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is at Rs 144.20, up 1.5% on the BSE. » Send to friends

10:13 AM - Sun Pharma has good support at Rs 1,275-1,250, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. If the stock holds this support, then it can perform against the market, he adds. The stock is at Rs 1,402.65, up 0.7% on the BSE. » Send to friends

10:07 AM - Cipla seems to be trading sideways in a range Rs 190-225, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is at Rs 212, up 0.4% on the BSE. » Send to friends

9:57 AM - The market has opened slightly higher on Tuesday. Sensex is at 13,492, up 31 points from the previous close. Nifty is at 4046, up just 5 points. » Send to friends

9:54 AM - A subdued opeing is expected today, says an NDTV Profit Opinion Poll. Nifty range is expected to be 3975-4078. Stocks to watch are Cambridge Solutions, RIL and Reliance Infrastructure. » Send to friends

9:49 AM - Nifty is likely to break 4000 right on opening today, says Sudhanshu Pandey of LKP Shares, on NDTV Profit. But the market may give short covering rallies over the next few days, he adds. » Send to friends

9:44 AM - Below Rs 2,100, Reliance Industries can fall to Rs 1,700, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. This may play a major role in pulling the market lower, he adds. The stock is at Rs 2,093.25 on the BSE. » Send to friends

9:39 AM - Nifty has important support at 4000 now, but it may be broken today, says Anil Maghnani, technical analyst, on NDTV Profit. And the Sensex may hit 12,500 over the next couple of days, he adds. » Send to friends

9:36 AM - The next support for the Sensex is seen at 12,700-12,300, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. » Send to friends