Daily Market Outlook:23 April 2009

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Daily Market Outlook:23 April 2009
It was a highly volatile day for the Indian equity markets. Both the leading Indices opened in green on account of strong recovery made by the US markets and good opening of Asian markets. But it could not sustain the gains and crumbled in the afternoon session. While Sensex closed at 10817.54 (Up 80.57 points) Nifty closed at 3330.30 (Down 35 points). If we take a look at market movement, it indicates that, rate sensitive sectors like realty and consumer durables had a good run in last few trading sessions. Today these sectors witnessed a good amount of profit booking and declined almost 4 per cent. Markets breadth was negative with 1064 advances and 1443 declines. One important factor in today’s decline is, it has happened with higher volumes, which is a weak sign for the markets.
Today also we expect weak opening in market.
Traders should avoid fresh positions in stocks that have been excluded from F&O by SEBI
BSE Sensex: The support for the Sensex is 10600-10450 and the resistance to the up move is at 10950/11090
NiftyTechnical Trend: the strong support for the Nifty is 3300 after that 3250-3120
WorkPharma is looking Strong we expect Target of 108/115 in coming Days.
Suzlon: This stock also looking hot if it sustain above 60 levels then upcoming targets are 63/65 and higher target of 68 also possible in coming days and support around 59/56
Below calls are base of RSI, Volume Break and Tech Research. Mean these stock have strong bias and they can get achieved same day or in coming days. Full Details with Target & Stoploss and holding period for paid members only
LIC Housing Finance Buy above 302; Wipro Buy above 283.50; Risky SAIL Sell below 105; Pantaloon Buy above 188
HCL Technologies :- The Group has posted a Net Income of $ 43.0 million for the quarter ended March 31, 2009 as compared to $ 85.4 million for the quarter ended March 31, 2008. Total Revenues has increased from $ 477.5 million for the quarter ended March 31, 2008 to $ 564.4 million for the quarter ended March 31, 2009.
ACC :- The Group has posted a net profit of Rs 3993.415 million for the quarter ended March 31, 2009 where as the same was at Rs 3243.074 million for the quarter ended March 31, 2008. Total Income is Rs 22178.289 million for the quarter ended March 31, 2009 where as the same was at Rs 19533.374 million for the quarter ended March 31, 2008.
Zee Entertainment :- The Group has posted a net profit after tax of Rs 5196.40 million for the year ended March 31, 2009 where as the same was at Rs 4160.60 million for the year ended March 31, 2008. Total Income is Rs 23326.90 million for the year ended March 31, 2009 where as the same was at Rs 19491.80 million for the year ended March 31, 2008.
M&M Financial :- The Group has posted a net profit of Rs 2196.896 million for the year ended March 31, 2009 as compared to Rs 1811.353 million for the year ended March 31, 2008. Total Income has increased from Rs 12366.527 million for the year ended March 31, 2008 to Rs 14004.472 million for the year ended March 31, 2009.
BGR Energy :- BGR Energy Systems has announced that the Environmental Engineering Division of the Company has secured a contract for Design, Engineering, Supply, Erection and Commissioning of large “Total Water System” from Maithon Power Ltd, Jharkhand. The contract is valued at Rs 15.50 Crores.

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Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actions. The information and views contained herein are believed to be reliable but no responsibility or liability is accepted for errors of fact or opinion. Editors may or may not have trading or investment positions in the securities mentioned herein.

 

 

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