Stock's Talk: Indian Stock Market BSE NSE

BSE 12575.80 -100.39 -0.79%
NSE 3,816.70 -44.40 -1.16%

It was yet another gloomy day, as market key indices broke important levels. Poor global cues along with selling pressure at higher levels and lack of buying interest in the market back home, forced the indices to newer 2008-lows during trade. Sensex ended the day at 12,575, down 100 points from the previous close. Nifty shut shop at 3816, down 44 points. CNX Midcap and BSE Smallcap indices lost 1.1% and 1.7% respectively. The market was dragged down by realty stocks, though FMCG and healthcare stocks tried to give some support. Biggest losers on the Sensex include DLF, JP Associates, Mahindra & Mahindra and HDFC, while gainers were Ranbaxy (after the management's clarifications on the US FDA issue in the morning), ONGC and Bharti Airtel, among others.

If Balrampur Chini closes above Rs 82 with good volumes, then that will be a buy signal, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The stock is at Rs 75.95, up 3.9% on the BSE.

Shree Renuka Sugars looks relatively strong on the charts, says Jatinder Sharma, Equity strategist, on CNBC Awaaz. If it stabilises at Rs 113-114, then it will gain further momentum, he says. It ha support at Rs 100-102, where one can accumulate the stock, he adds. It is at Rs 109.55, up 4.7% on the BSE.

Usha Martin looks relatively strong on technical charts, says Jatinder Sharma, Equity strategist, on CNBC Awaaz. It has support at Rs 67, where one can accumulate the stock, he says. It will face resistance at Rs 87-88, he adds. The stock is at Rs 79.50, up 1.5% on the BSE.

The opening was slightly higher, but as the day advanced, the market started slipping and closed in the negative terrain. Sensex ended the day at 12,652, down 23 points (provisional) from the previous close. Nifty shut shop at 3842, down 18 points (provisional). The Nifty fell to an intra-day low of 3790 today.

Tata Steel for short term with a target of Rs 750 and stoploss of Rs 600, says Ashwani Gujral, technical analyst, as market closing strategy, on CNBC-TV18.

Tata Steel with a target price of Rs 582, says Rahul Mohindar, technical analyst, as market closing strategy, on CNBC-TV18.

Buy Nifty for short term, target of 4000, keeping stoploss of 3720, says Ashwani Gujral, technical analyst, as market closing strategy, on CNBC-TV18