Stock's Talk: Indian Stock Market BSE NSE

BSE 13111.85 +536.05 +4.26%
NSE 3,947.20 +130.50 +3.31%

After the significant fall yesterday, the market had a good day today, where it clearly outperformed most of its Asian peers. Sensex ended the day at 13,111, up 536 points from the previous close. Nifty shut shop at 3947, up 130 points. CNX Midcap and BSE Smallcap indices gained 1.9% and 1% respectively. Heroes of the day were interest rate sensitives; banking, capital goods, realty and auto stocks. On the other hand, metals saw selling pressure. Top Sensex gainers include DLF, Maruti, HDFC and JP Associates, while index losers were Ranbaxy, Tata Steel and Ambuja Cements.

The market seems to have gathered some strength for the short term now, says Rahul Mohindar, technical analyst, on CNBC-TV18. The Nifty can run up to 4100, he adds. So look at banking and capital goods stocks now, as they may see a short term run up, he suggests.

Polaris has support at Rs 65-70, says Rahul Mohindar, technical analyst, on CNBC-TV18. But IT may not see nuch upside going ahead, so if long here, avoid it, he suggests. The stock is at Rs 78.75, up 15.5% on the BSE.

The market ended close to the highs of the day. Sensex ended at 13,133, up 558 points (provisional) from the previous close. Nifty shut shop at 3954, up 137 points (provisional).
Hold on to Nifty long with a stoploss of 3858, says Anil Maghnani, technical analyst, as market closing strategy, on CNBC-TV18.

Book profits in Nifty longs; next resistance will come in at 3980, says Vijay Bhambwani, technical anlayst, as market closing strategy, on CNBC-TV18.

Gateway Distripaks can possibly move up to Rs 95-96 now, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep a stoploss below Rs 78 and continue to hold it, he suggests. It is currently trading at Rs 80.15, up 8.3% on the BSE. In autos, one can look at buying Maruti and Tata Motors at lower levels, as they see to have found some strength now, says Rajat Bose, technical analyst, on CNBC-TV18.

The incremental flows at FII desk is positive today; buy-sell ratio is at 2:1, say dealers, reports CNBC-TV18. Some long-only and hedge funds are buying into largecaps, they add. Domestic flows are mixed, as many are still waiting on the sidelines. Dealers see Nifty supports at 3850-3780 and resistances at 4030-4090.

Union Bank has support at Rs 98 and will face resistance at Rs 115-120, says Prakash Gaba, technical analyst, on CNBC Awaaz. But the stock needs to make a base before moving up, he adds. It is currently trading at Rs 107.50, up 7.4% on the BSE.

An upside is possible in Bombay Rayon, but it wil face resistance at Rs 300-310, says Prakash Gaba, technical analyst, on CNBC Awaaz. It is currently trading at Rs 297.20, up 7.9% on the BSE.

RPL can fall to Rs 140 or even lower if the market falls, says Anuj Dixit, technical analyst, on Zee Business. So if you have a short term view, then sell the stock at higher levels, he suggests. For the long term, hold the stock with a stoploss at Rs 140, he adds. It is currently trading at Rs 148.20, down 3.6% on the BSE. Voltas has a 12-month target of Rs 225, says Vikas Sethi, MD, Sethi Finmart, on CNBC-TV18. The stock is at Rs 122.40, up 1% on the BSE. Zee News has support at Rs 40-45, where one can buy/average the stock for a target of Rs 52-55, says Anuj Dixit, technical analyst, on Zee Business. But keep a stoploss at Rs 39, he suggests. The stock is at Rs 44.20, down 2.2% on the BSE. If Bharti Airtel can sustain above Rs 739, then one can see it go up to Rs 772-780, where it wil face reistance, says Rajat Bose, technical analyst, on CNBC-TV18. The stock is at Rs 751.90, up 3% on the BSE.

Aban Offshore has 12-month target of Rs 4,500, says Vikas Sethi, MD, Sethi Finmart, on CNBC-TV18. The stock is at Rs 2,636, up 1% on the BSE.

One can continue to hold NMDC with a stoploss at Rs 208, says Anuj Dixit, technical analyst, on Zee Business. Look at exiting the stock at higher levels like Rs 265-280, he suggests. If Asian Electronics falls below Rs 69, then it can go down to Rs 50-45, says Anuj Dixit, technical analyst, on Zee Business. So keep a stoploss of Rs 69 here, he suggests. It is currently at Rs 77.45, up 2.9% on the BSE.