Last Close (4642)

In today trade, gap up opening possible & may go upto 4685 level........ if cross & stay above 4685 may go upto 4730 level
WATCH : TATACOMM, CHAMBALFERT.

Hope you all have earned good money in IDFC, CMC, Petronet, Kalindee Rail, Videocon and Unitech...

Continue to hold IDFC.. It can shoot upto 165+ by end of June expiry.

Stock To Watch for short term
Larsen & Toubro Ltd (1633.65)
According to source L&T is considering selling most of Ultratech stake. This will unlock lot of value for L&T. Buy L&T with holding period of 1 - 3 days.
Target: 1660 - 1700

Suzlon Energy Ltd (123.85)
Suzlon is seeing some consolidation around 120 - 125 levels. It has minnor resistance at 127. On down side Suzlon Energy Ltd has support 118.
Target: 128 - 132

RDB Industries Ltd (89.40)
Company has signed a deal to buy 23 Acres of Land at Surat for Rs 132 Crores and plans to build an integrated township of about 27 Lac Sq ft in Surat. Buy with holding period of 1 - 5 days.
Target: 100

As mentioned yesterday, market got a good support at lower levels and went up like rocket as expected.

IDFC and TVS motor was up by more the 5%. Hold onto our targets for these scripts. Petronet will also catch up the race soon

Few other positional calls to keep watch on:
1) JP hydro target 120+
2) Buy Titagarh wagon /Kernex / Kalindee Rail and Texmaco at every dip and hold for 3 weeks
3) CMC target 742 [Hold it for 7 to 14 days]
4) IDBI target 200+ in next 2 to 3 months

Positional calls for 9 June 2009

1. PETRONET LNG - Current Price: Rs 77.25 : Buy around Rs 74-77, Stop Loss @ Rs 72, Target Rs88-90 in 4-5 trading session
2. TVS MOTOR - Current Price: Rs 51.5 : Buy around Rs 47-51, Stop Loss @ Rs 45, Target Rs58-60 in 4-5 trading session
3. IDFC - Current Price: Rs 123 : Buy around Rs 122-124, Stop Loss @ Rs 118, Target 136-140 in 3-4 trading session

Market to rebound today.. No need to panic.

Market outlook for 8 June 2009

Up trend to continue, selective buying in Midcaps

Traders could concentrate on Oil stocks like ONGC and Cairn India (Rs 259) for quick gains as oil prices continue to climb and is likely to breach the $ 70/barrel. The stock of Unitech might see some buying interest on the news that the company plans its debt by selling some assets.The going for the market from the current level is going t be tough.

Some of the stocks to watch in today's trade are; Gwalior Chemical which is set to report Q4 numbers today, Saregama ahead of its preferential issue, VIP Ind before its quarterly numbers on tuesday. Over all, a flat to positive market with some sparks in the midcap space.

Keep watch on JP Hydro for a good upmove

Weekly positional calls for week starting, 8 June 2009

Buy BEL @ 1393 SL 1361 Target 1520
Buy ABAN @ 1242 SL 1195 Target 1320
Buy Chennai Petro @ 204 SL 192 Target 220
Buy Bhushan Steel @ 838 SL 806 Target 915
Buy United Brew @ 144 SL 135 Taregt 185

All the above calls will be reviewed next weekend for the performance

Positional calls for Monday, 8 June 2009

1) Buy Unitech with a target of 115 -125 in very short term
2) Buy Videocon Industries for 15-20 days. Target 215-230
3) Buy TRF @ cmp and on every dips. Target 2100 in next 12 months