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Yesterday’s Quick updates
Sensex ends flat; ONGC was up 7%
The Sensex ended the day with a gain of 13.02 points or 0.09% at 14,658.49 after touching a high of 14,764.35 and a low of 14,469.69. The broad-based NSE Nifty gained 7.95 points or 0.18% at 4,348.85 after hitting a high of 4,383.65 and a low of 4,288.75.
The Sensex ended the volatile session on a flat note. It opened with a gain of 48.84 points, at 14,694.31 on Thursday following positive global cues and soon slipped into the negative to again bounce back into the positive. Metal stocks surged the most followed by PSU and realty stocks, whereas auto and capital goods stocks dropped.
The Sensex after a volatile trade, witnessed few buying in front line stocks following healthy Economic Survey report. Later, it slipped further into the negative zone on selling activity.
It continued to trade lower as European market opened negative. Finally the index closed marginally down touching a low of 14,469.69.
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Stocks to Watch Today
This page updates daily till 9:40 am
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Welcome to the Indian Share Market
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Update - Friday, 03 July 2009
Inflation - India`s benchmark wholesale price index (WPI), annual inflation stood at -1.30% for the week ended June 20, 2009 as compared -1.14% a week ago.
Major gainers in the Sensex index were Oil & Natural Gas Corporation (7.02%), Tata Steel (6.37%), Grasim Industries (4.20%), Sterlite Industries (India) (3.75%), DLF (3.12%), and Sun Pharmaceutical Industries (2.46%).
Major losers were Bharat Heavy Electricals (3.03%), Reliance Industries (2.29%), Bharti Airtel (2.27%), Reliance Communications (1.83%), Tata Motors (1.67%), and Maruti Suzuki India (1.53%).
Overall market breadth was positive. Out of the total 2,692 stocks traded at BSE, 1,459 advanced, 1,141 declined while 92 remained unchanged.
Oil drilling and exploration sector
The stocks prices have been doubled in just 4 months. To read more, please visit at Oil Drilling and Exploration Sector
Shipping Sector
The stocks have give around 40% returns in just 4 months. To read more please visit at Shipping Sector
Researched Stocks
Currently we are working on providing new Researched stocks which will be posted in next month.
Almost all our previous researched stock tips have achieved targets. To see all these stocks please visit at Researched Stocks
Stocks to watch today
The railway budget will be presented in the Lok Sabha today. This will be the third rail budget to be presented by Railway Minister Mamta Bannerji .
Maytas Infra gets Rs 1 billion bank loan - Maytas Infra, the construction company promoted by Ramalinga Raju`s family, got major relief when 18 banks today approved the corporate debt restructuring (CDR) package for the company, providing Rs 1 billion as working capital, in addition it will get more time to repay loans.
Glenmark receives first-to-file status for 3 drugs in US - Glenmark Pharmaceuticals has received first-to-file status for three of its abbreviated new drug applications (ANDA) that have combined revenue of over USD 2 billion in the US.
Bajaj Auto today reported a 4.52% fall in motorcycle sales at 167,945 units in June against 1,75,903 units in the same month last year.
Punj Lloyd has secured three contracts worth Rs 18.73 billion from Housing and Infrastructure Board, Libya for designing, procurement, installation and commissioning of utilities at Zawara, Ragdaleen and Al Jamail towns in Libya.
NTPC is in discussions with Japanese funding agency Japan Bank for International Co-operation (JBIC) to raise green funds for its supercritical and ultra-supercritical power projects that are based on an efficient consumption of fossil fuels.
Power Finance Corporation (PFC) is expected to slash its lending rates by about 25 basis points to realign them with market rates; its average lending rate is about 11.75%.
Markets today
Rail budget was not presented yesterday, so we are expecting it today.
Nifty and Sensex are expected to open in Red.
Nifty Traders - Resistance and Support
(Resistance is the buying price and support is the selling. After breaking the either levels, 15 to 20 points move is expected)
Resistance at 4360
Support at 4280
Target achieved on Friday. After breaking the resistance, Nifty went above 4400.
Resistance at 4360
Support at 4280
Target achieved on Thursday After breaking the support Nifty went down till 4276.
Resistance at 4400
Support at 4360
Target achieved on Wednesday. After breaking the support Nifty went down till 4240
Resistance at 4350
Support at 4280
Target achieved on Tuesday. After breaking the support Nifty went down till 4260
Resistance at 4450
Support at 4390
Target achieved on Monday. After breaking the resistance Nifty went above till 4447.
Resistance at 4430
Support at 4320
Today’s stock pick
(Resistance is the buying price and support is the selling)
Target achieved on Friday - Hindustan petroleum ltd - Resistance at 320, Target1 325, Target2- 330, stop loss - 310. Even if the stock opens above 320, traders can take the positions and hold for target.
Target achieved on Thursday
Hindustan petroleum ltd - Resistance at 317, Target1 at 321, Target2 at 325, stop loss - 310. Both Targets achieved.
Tata Motors ltd - Support at 299, Target- 295, stop loss - 305.
Target achieved on Tuesday at 298
Hindustan petroleum ltd (Hindpetro) - Support at 303, target at 300 to 298, stop loss - 308. Short sell call.
This week forecast has been updated at below link - Weekly updates
This week events
The market is likely to a direction from the economy survey to be presented on July 2 followed by the railway budget on July 3 and on July 6 the union budget.
Any positive or negative surprises will take the market accordingly.
Short term Investors - Investors looking for short term returns like 1 to 3 months should wait till Nifty provides clear picture.
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