Categorized | Featured, sensex

Indian stock market calls-Nitin Gupta(15/Sep/09)

Posted on 14 September 2009 by Anubhav Arya

Currentopics.com

Market Guru

Full Name : Nitin Gupta

Designation: Managing Director

Company Name: Gupta Consultancy Services

Experience in stock market: 9 years

Company Profile: Portfolio management Services

Today’s Call

Markets END With Marginal loss

The Market snapped a six-day winning streak and closed marginally lower on the back of weak global cues and profit booking in telecom, cement, realty, select metal, capital goods and private banking stocks. ONGC was also the loser.However, buying in PSU banking, auto, select technology and oil marketing companies’ shares capped the losses to major extent and helped the indices to close with modest loss. The equity benchmarks continued to see consolidation in today’s trade as well. The 30-share BSE Sensex closed at 16,214.19, shed 50.11 points, after seeing an intraday low of 16,119.95. The 50-share NSE Nifty slipped 20.95 points, to settle at 4808.60, after hitting a day’s low of 4786.25.

Buy Tata Steel

tata_logo

The stock has been upgraded to buy based on three factors.The first is the view that the worst is over for Corous and that each quarter at Corous should be incrementally better.Nascent recovery in steel consumption in Europe, a rising capacity utilizationand a decline in coking coal prices should drive an EBITDA TOUR AROUND AT Corous. Also the stock has broken the important resistance level of 477 on charts. I expect the stock moving further to 520 in 6 trading sessions.

Technical calls

Buy corporation bank

corpo

with a 3 session target of 410 by keeping a 15 rs stoploss from the market price. Traders are advised to increse their positions only above 400.

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Buy Reliance Industries above 2170 which is acting as a major hurdle since last two days. I expect a positive news coming in for this stock. I would advise all the traders to buy in bulk or enter the 2190 strike price call between 30 to 40 for the target price of 2350 in equity in 5 trading sessions, keep a stop of 2105 and stay long

Levels for Nifty

I expect a flat to negative opening on Tuesday. The support levels for nifty are 4780 an 4750. The major resistance is at 4850.

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Disclaimer : These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure : The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this site. Readers of this site who buy or sell securities based on the information.