Stock's Talk: Indian Stock Market BSE NSE

BSE 13635.40 +523.55 +3.99%
NSE 4,092.25 +145.05 +3.54%


With three cheers for three consicutive days on Sensex and Nifty, the week saw a volatile market, where key indices made new 2008-lows, but ended on a positive note. Sensex gained 1.3% over the week, recovering nearly 1,100 points from the week's low of 12,514. And Nifty added 1.2% over the last five trading sessions, recovering nearly 300 points from the week's low. But it wasn't as good for the CNX Midcap and BSE Smallcap indices, which lost 1.5% and 3.6% respectively. Sector-wise too, it wasn't all pleasant. BSE IT index shed 8.3% and BSE Metal index, 7.5%. But BSE Oil & Gas index added 4.3%, BSE Capital Goods index, 3.7% and BSE Bankex, 2.6% over the week. For the coming week, Tuesday, July 22, will decide the next move of the market, as the vote of confidence for the present government takes place.

It was a quiet opening for the market and trade was volatile for most of the session today, despite softer crude oil price and better than expected inflation number. But the last couple of hours saw the market gain strength and how! Sensex ended at 13,635, up a good 523 points from the previous close. Nifty shut shop at 4092, up 145 points. CNX Midcap and BSE Smallcap indices gained over 2% and 1% respectively. Interest rate sensitives, namely banking and realty stocks again emerged as heroes of the day, along with oil & gas and capital goods. But metal and IT stocks had a bad day. Top gainers on the Sensex included ICICI Bank, HDFC, JP Associates, Bharti Airtel, while losers were Satyam Computer, Wipro, Ranbaxy and Tata Steel, among others.

HDFC Bank can go up to Rs 1,080, says E Mathew, technical analyst, on CNBC-TV18. It is at Rs 1,032, up 7.7% on the BSE.

The major trend in Polaris is down, but the stock has long term support at Rs 63, says market expert Amarjeet Singh, on CNBC Awaaz. But it is better to stick to heavyweights like Infosys and TCS, he suggests. Polaris is at Rs 80.30, up 2% on the BSE.


IDFC has support at Rs 92-90, says E Mathew, technical analyst, on CNBC-TV18. On the upside, if it can cross the resistance of Rs 117, then one can see it go to Rs 140, he adds. It is at Rs 109.35, up over 15% on the BSE.

One can continue to hold Patel Engineering with a stoploss of Rs 366, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. It will now face resistance at Rs 426, he says. Once this is crossed, next target will be Rs 507-525, he adds. The stock is at Rs 390.50, up 7.1% on the BSE.

ICICI Bank looks strong on the charts, says E Mathew, technical analyst, on CNBC-TV18. Once it crosses Rs 625-630, which it has the potential to, then it can go up to Rs 680, he says. It is at Rs 617.10, up 12% on the BSE.

It was a volatile day for the market, before it gained significant strength in the last couple of hours of trade. Sensex ended at 13,625, up 513 points (provisional) from the previous close. Nifty shut shop above 4000 at 4078, up 131 points (provisional).

Book profits in Nifty in resistance zone of 4084-4129, says Neppolian Pillai of Mordern Share & Stock Broking, as market closing strategy, on CNBC-TV18.

Initiate fresh longs in Nify only above 4130, says Neppolian Pillai of Mordern Share & Stock Broking, as market closing strategy, on CNBC-TV18.

Stay away from the market till political uncertainity subsides, says Ashwani Gujral, techncial analyst, on CNBC-TV18. Book profits in Nifty Long positions, he says, as a market closing strategy.

Infosys can be a good buy close to Rs 1,500, which is a good support for the stock, says market expert Amarjeet Singh, on CNBC Awaaz. The risk-reward ratio here will be favourable, he adds. The stock is currently trading at Rs 1,539, down 2.8% on the BSE.

Reliance Communications is in an oversold territory, but has a good long term support at Rs 380, says market expert Amarjeet Singh, on CNBC Awaaz. Don't buy fresh here, but if you hold the stocks, then continue to do so with a stoploss at Rs 381, he suggests. On the upside, Rs 518 will be an important resistance, he adds. It is currently trading at Rs 440.50, up 5.4% on the BSE.

Take Solutions does not look very good on the charts and therefore one should exit the counter, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 525, up 3.9% on the BSE.

Coromandel Fertilisers has good support at Rs 100-90 and will try to go up to Rs 143-150 in the medium term, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. So stay invested if already hold the stock, he suggests. The stock is currently trading at Rs 119, up 3.8% on the BSE.

Gujarat NRE Coke has announced 2:5 bonus issue, reports CNBC-TV18. Also, the company's board has deferred the Rights Issue. The stock is currently trading at Rs 110.40, up 6% on the BSE.