Quotes with Resistance & Support
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Nifty ends off lows; bounces back from 2700

Posted on: Friday, February 20th 2009 and is filed under Market News.

MUMBAI: Indian equities ended sharply lower on Friday but off lows as traders covered shorts at crucial support levels. Banks, IT and metals ended with maximum losses. National Stock Exchange’s Nifty closed at 2745.40, down 43.95 points or 1.58 per cent. The index held on to its major s...

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Nifty has support at 2730-2690: Nirmal Bang

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

According to Nirmal Bang’s report, on the downside support exist at 2730-2690. Nirmal Bang’s report: The outlook is gloomy as the volumes are getting lower day-by-day and the bulls are finding it difficult to maintain the momentum on the higher side. ...

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Hindalco a market performer: Karvy

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

Karvy Stock Broking has rated Hindalco as a market performer with a target price of Rs 43 in its February 20, 2009 research report. “Novelis Inc., the company fully acquired by Hindalco, has declared its Q3FY2009 results. Net sales for the quarter were USD 2,176 million. ...

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Add GSK Pharma, target to Rs 1265: IIFL

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

IIFL has maintained its add rating on Glaxo Smithkline Pharma with a price target to Rs 1265 in its February 19, 2009 research report. “Glaxo’s 4QCY08 results were marginally below our expectations, mainly on lower EBIDTA margin, which declined 175 bps YoY and 869 bps QoQ to 28.4%...

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Buy Tech Mahindra, target of Rs 309: Indiabulls Securities

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

Indiabulls Securities Research has maintained its buy rating on Tech Mahindra with a target price of Rs 309 in its February 19, 2009 research report. “Tech Mahindra (TM) reported a disappointing performance for the quarter ended December 2008 as revenues went down 2.8% qoq to Rs 11....

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Nifty may correct up to 2771: Angel

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

According to Angel Broking’s Market Outlook report, if NIFTY trades below 2786 for the first half-an-hour of trade then it may correct up to 2771. Angel Broking’s Market Outlook report: ...

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Hold SAIL, target of Rs 84: Indiabulls Securities

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

Indiabulls Securities Research has upgraded its rating on Steel Authority of India (SAIL) to hold with a target price of Rs 84 in its February 18, 2009, research report. “In Q3’09, SAIL reported weaker-than-expected results due to the fall in steel prices and the decline in steel ...

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Angel Broking neutral on BHEL

Posted on: Friday, February 20th 2009 and is filed under Brokerage Recommendations.

Angel Broking has maintained its neutral rating on Bharat Heavy Electricals in its February 20, 2009 research report. “Bharat Heavy Electricals (BHEL) has inked a pact to float a joint venture (JV) with General Electric (GE) to manufacture diesel locomotives for Indian Railways. ...

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RBI employees on strike tomorrow

Posted on: Friday, February 20th 2009 and is filed under Press Releases.

Normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected tomorrow with its employee unions going on one-day strike to press their demands on pension. Unions are going on a ‘mass casual leave’ demanding the re...

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Intraday calls for 20-02-09

Buy Firstsource solutions above 14.10, target: 15.50. Stoploss: 13.70 Short sell: Hindalco at 40.1, target: 38. Stoploss: 41 ...

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