Sensex All Time Low

4:07 PM - The Indian market was the worst performing market amidst its global peers. Sensex shut shop at 15066, down 506 points and Nifty at 4500, down 126 points from the previous close. CNX Midcap index was down 2.78% and BSE Smallcap index was down 3.63%. Market breadth was negative with 137 advances against 1114 declines on the NSE. Top Nifty gainers were Nalco, Cairn and Ranbaxy while losers included Unitech, BPCL and DLF.

4:02 PM - In the smallcap IT space, Subex could be a multi-bagger with a target price of Rs 270-300 in 12 months, says Ambareesh Baliga of Karvy Stock Broking on CNBC-TV18. The stock is currently trading at Rs 116, down 2.14% on the BSE.

4:00 PM - Nalco has resistance at Rs 560-565, says says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 510, up 3.92% on the BSE.

3:58 PM - The market closes barely above 4500 levels on Nifty today and the lowest level today was 4411, says NDTV Profit Opinion Closing Poll. It is too early to say that the market has seen a bottom. The market is expected to see a technical gap up opening of 60-70% tomorrow morning but unlikely to sustain through the day.

3:54 PM - Reliance Communications has resistance at Rs 600-610, says says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 554, up 1.34% on the BSE.

3:51 PM - In the sugar space, Balrampur Chini is a buy at current levels for the long term, says Ambareesh Baliga of Karvy Stock Broking on CNBC-TV18. Investors can now look at picking up select stocks in the capital goods, infrastructure and FMCG space, he adds.

3:48 PM - One can book profits in Punj Lloyd now and then look at buying it again at lower levels like Rs 225-230, says Hemen Kapadia, technical analyst, on NDTV Profit. The stock is currently tradign at Rs 260, down 4.71% on the BSE.

3:46 PM - In the fertilizer space, Chambal Fertilisers and Nagarjuna Fertilisers look good buys at current levels for the long term, says Rajat Bose, technical analyst, on CNBC-TV18. Chambal is at Rs 74, down 7.32% and Nagarjuna is at Rs 39, down 5.92% on the BSE.

3:43 PM - Near term oil prices cannot sustain these levels and the market will continue to see challenges on the inflation and interest rate fronts, says Sunil Singhania of Reliance Mutual Fund, on CNBC TV18. The market at these levels merits investment on the risk-return ratio, he adds.

3:41 PM - The market is seeing a time-wise correction that could last 6-12 months, says Anil Maghnani, technical analyst, on NDTV Profit. Stocks are down nearly 75% from their valuations and this bear market phase will be painful, he adds.

3:36 PM - It was a bad day for the market, which was just able to defend 4500 on Nifty and 15000 on the Sensex. Sensex closed at 15128, down 444 points (provisional) from the previous close. Nifty closed at 4519, down 107 points (provisional). CNX Midcap index was down 2.57% and BSE Smallcap index was down 3.47%. Market breadth was negative with 173 advances against 1073 declines on the NSE.

3:33 PM - The market could go down further and one should be ready with 20% cash in hand to buy into quality stocks now, says Ambareesh Baliga of Karvy Stock Broking on CNBC-TV18. The market is likely to see more pain for 2-3 months ahead and a bounceback will not be seen soon, he adds.

3:25 PM - Go long on Nifty at around 4420 level with a stop loss of 4400 on a closing basis, says Neppolian Pillai, technical analyst, on CNBC TV18 as closing market strategy. Nifty’s short term target is 4535 and 4630, he adds. Buy Grasim between Rs 2090-2200 with a target of Rs 2357 and stop loss of Rs 2080, he says.

3:21 PM - The Indian market is an outperformer even in its downside amidst its global peers, says Ashwani Gujral, technical analyst, on CNBC-TV18. The market is not showing any strength and it now has support at 4000-4200 on Nifty, he says. Any bounce of 100 points will also get sold really fast, he adds.

3:17 PM - Reliance Industries is looking weak and could go down to Rs 2125, says Hemen Kapadia, technical analyst, on CNBC Awaaz. When Reliance Industries goes down it will take the market further down with it, he adds. The stock is currently trading at Rs 2175, down 2.7% on the BSE.

3:09 PM - The market is still looking oversold. Sensex is trading at 15008, down 563 points from the previous close. Nifty is at 4480, down 147 points. CNX Midcap index is down 3.18% and BSE Smallcap index is down 3.88%. Market breadth is negative with 113 advances against 1158 declines on the NSE.

2:59 PM - Aishwarya Telecom is looking weak and it is advisable to book one’s loss and switch to a better stock like Reliance Capital where one can make some profits in 12 months, says Rajesh Tambe of Sunchan Securities, on Zee Business. The stock is currently trading at Rs 66, down 4.94% on the BSE.

2:53 PM - Cairn has resistance at Rs 309-320 and it is a buy at current levels for the long term, says Rajat Bose, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 296, up 3.63% on the BSE.

2:45 PM - In the pharma space, Piramal Health and Ranbaxy look good at current levels for the long term, says Siddharth Bhamre of Angel Broking, on CNBC TV18. Ranbaxy is currently trading at Rs 525, up 3.6% and Piramal Health is at Rs 375, up 2.74% on the BSE.

2:36 PM - BHEL has bagged an order of Rs 3588 crore for a Delhi power plant, reports CNBC TV18. The stock is currently trading at Rs 1385, down 2.56% on the BSE

2:28 PM - The market could correct below the January levels in the near term, says Anil Singhvi of ICAN Investment Advisors, on NDTV Profit. Corporate profitability is likely to come under pressure for the next 4-6 quarters, he says. ICAN is positive on the IT sector in the long term, he adds.

2:18 PM - Cairn has some more upside left and it can go to Rs 330, says Siddharth Bhamre of Angel Broking, on CNBC TV18. The stock is currently trading at Rs 296, up 3.63% on the BSE.

2:05 PM - The market continues to be in pain. Sensex is trading at 15030, down 541 points from the previous close. Nifty is at 4466, down 160 points. CNX Midcap index is down 3.38% and BSE Smallcap index is down 3.78%. Realty, power, banking, IT and capital goods space are all under pressure. Market breadth is negative with 88 advances against 1158 declines on the NSE.

1:55 PM - It has been known that panic day’s offer the best buying opportunities, says Rajesh Jain of Pranav Securities, on NDTV Profit. The market is seeing FII portfolio unwinding and not finding any buyers thus the downward movement is more pronounced, he says. For the retail investor this is the best time to pick up stocks as some largecaps are available at the price of midcaps, he says. Investors can look at deploying 5 to 10% of their capital to accumulate good stocks in their portfolio tomorrow morning, he adds.

1:46 PM - Sharekhan has a price target of Rs 800 for Mahindra & Mahindra, reports Zee Business. The stock is currently trading at Rs 562, down 3.47% on the BSE.

1:35 PM - WWIL is looking weak and it is advisable to book one’s loss and switch to a better stock like Dish TV, says Rajesh Tambe of Sunchan Securities, on Zee Business. WWIL is currently trading at Rs 31, down 7.19% on the BSE.

1:24 PM - The intermediate trend for the market is down, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. It is advisable not to try and catch a falling knife as the market will continue to make new lows, he says. So stay clear of the market for now, he adds.

1:14 PM - The market is expected to bounce back a little in the next couple of trading sessions, says Hemen Kapadia, technical analyst, on NDTV Profit. That is when one can book profits in sugar stocks like Shree Renuka Sugars, he suggests. The stock is currently trading at Rs 89.75, down 6.6% on the

1:04 PM - The Indian market cracks due to bad global cues. It is the worst performing in Asia today. Sensex is trading at 15055, down 516 points from the previous close. Nifty is at 4470, down 157 points. Market breadth is negative with 83 advances against 1160 declines on the NSE.

12:53 PM - There are no major triggers for the market now, for a strong or an immediate bounceback, says Ambareesh Baliga of Karvy Stock Broking, on Zee Business. Results for the June quarter, expected in the second week of July may be some sort of a trigger, he adds. The brokerage is looking at stocks from capital goods, banking, FMCG, along with RIL for buying, while avoiding realty, he says.

12:46 PM - SpiceJet is a hold for now, as it has limited downside, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 30, he says. And any recovery in the market will make this stock rise too, he adds. It is currently trading at Rs 33.15, down 7.8% on the BSE.

12:39 PM - In the coming quarters, Cairn India can go up to Rs 370-375, says Vijay Bhambwani, technical analyst, on CNBC-TV18. Aban Offshore and Great Offshore are other good opportunities for an investor, he adds.

12:31 PM - There are chances that Neyveli Lignite make new lows, therefore it is a ’sell’, says Hemen Kapadia, technical analyst, on NDTV Profit. The stock is currently trading at Rs 111.75, down 4.6% on the BSE.

12:24 PM - Some bottom fishing at 4400 on the Nifty is likely, says Angel Broking, reports NDTV Profit.

12:19 PM - There can be more downside in Bank of Baroda and therefore it is a ’sell’, says Hemen Kapadia, technical analyst, on NDTV Profit. The stock is currently trading at Rs 217.20, down over 5% on the BSE.

12:11 PM - There’s more downside feared, and there is pressure on margin calls, say dealers, reports NDTV Profit. Capital goods, realty and banking stocks continue to see FII selling, while domestic funds are sitting on the sidelines, they add.

12:03 PM - The market has recovered a bit, but still down by a good percentage. Sensex has managed to crawl back above 15,000 and is currently at 15,026, down 545 points from the previous close. Nifty is at 4465, down 162 points. CNX Midcap index is down 3.9% and BSE Smallcap index, down 4.4%. All sectoral indices are trading lower, with that for realty and power under maximum pessure. Market breadth remains extremely weak, with just 54 advances against 1,175 declines on the NSE.

11:58 AM - Nicholas Piramal is a hold, as everything looks fine technically here, says Hemen Kapadia, technical analyst, on NDTV Profit. But do so keeping a stoploss at Rs 343, he suggests. Or one can even book profits, considering the current market scenario, he adds. The stock is currently trading at Rs 353.15, down 3.3% on the BSE.

11:51 AM - Nifty may test 4000 and bargain hunting may come in at 4000-4200, says CLSA, reports NDTV Profit.

11:42 AM - The Nifty now has a visible support at 4365, says Vijay Bhambwani, technical analyst, on CNBC-TV18. And if this is broken, then the 50-share index may fall to 3965, he adds.

11:34 AM - IF RNRL continues to trade below Rs 93-92, then one may see more weakness here, says MB Singh, technical analyst, on Zee Business. It can even fall to Rs 68-65, he adds. The stock is currently trading at Rs 87.15, down 7.3% on the BSE.

11:26 AM - One may see 10% upside in technology stocks, says Sanjeev Prasad, Head-Research, Kotak Securities, on NDTV Profit. Also, since midcap pharma companies are seeing growth, the brokerage is positive on Biocon and Divis Labs, he says. Otherwise pharma and consumer durables valuations are on the higher side, he adds.

11:19 AM - Reliance Capital now has support at Rs 1,045 and below this, there are chances that the stock might fall to Rs 960-900, says MB Singh, technical analyst, on Zee Business. It is currently trading at Rs 1,043, down 6.7% on the BSE.

11:12 AM - Goldman Sachs has put a ‘buy’ rating on Cairn India, with a target price of Rs 340, reports NDTV Profit. The stock is currently trading at Rs 297.65, up 4% on the BSE.

11:02 AM - If Reliance Power continues to trade below Rs 190, then chances are that it might fall lower, says MB Singh, technical analyst, on Zee Business. Any bounce to Rs 225-230, should be used to exit by short term investors, he suggests. Long term investors should contineu to hold it, he adds. The stock is currently trading at Rs 183.55, down over 5% on the BSE.

10:54 AM - The Sensex has broken the 15,000 mark and is currently trading at 14,953, down 618 points from the previos close. Nifty has broken the previous low of 4448.50 and is now at 4437, down 190 points. Market breadth is extremely weak, with just 50 advances against 1,126 declines on the NSE.

10:51 AM - In the banking space, SBI and ICICI Bank look attractive at current levels, says Sanjeev Prasad, Head-Research, Kotak Securities, on NDTV Profit. SBI is at Rs 1,286, down 3.7% and 747.25, down over 3%, on the BSE.

10:46 AM - Infrastructure stocks are expected to do better compared to pure realty plays, so one can look at them at lower levels, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz.

10:40 AM - One can expect significant earnings downgrades in the next few quarters, says Sanjeev Prasad, Head-Research, Kotak Securities, on NDTV Profit. Slowdown in economic growth will be reflected in the earnings going forward, he adds. But valuations of some Sensex stocks look attractive now, he says.

10:31 AM - Realty stocks may take a lot of time to move up again, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. So it is best to avoid them for the next couple of years or so, he suggests.

10:23 AM - One can do some value buying in capital goods stocks like BHEL, L&T, Punj Lloyd and Thermax at current levels, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz.

10:17 AM - If crude oil moves up to $130 per barrel, then Cairn India can certainly go up to Rs 340, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. So the stock can be a good defensive buy at Rs 280-285, he adds. It is currently trading at Rs 297, up 3.4% on the BSE.

10:10 AM - DLF can be a good buy at Rs 475 or so, as it can bounce from here to Rs 525-530, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. But avoid property stocks for investmenting, he suggests. The stock has hit a life low of Rs 490 and is currently trading at Rs 497, down 4.4% on the BSE.

10:03 AM - One may see an upside of Rs 100-125 in ONGC, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. The stock is currently trading at Rs 916, down 2.4% on the BSE.

9:58 AM - The market has opened with a gap down on Monday. Sensex is currently at 15,137, down 435 points from the previous close. Nifty is at 4500, down 127 points.

9:56 AM - Cairn India may be showing a reactive upmove for now, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock can go up to Rs 318-320 maximum, he adds. It is at Rs 286.25 on the BSE.

9:55 AM - The Nifty may open 200-250 points lower today, says Sandeep Wagle of Angel Broking, on NDTV Profit. The Sensex may touch 13,800 in the coming days, while Nifty can go down to 4450-4400, he adds.

9:53 AM - The market may have a negative opening today, says an NDTV Profit Opinion Poll. Nifty range is expected to be 4530-4650. Close below 4530 would be the key to watch. Dealers suggest going long on RPL, selling/shorting Divis Labs and buying Nifty puts.

9:50 AM - Defensive plays like IT and pharma look weak now, says Prakash Gaba, technical analyst, on CNBC Awaaz. Therefore, it is advisable to book profits here, he adds.

9:47 AM - The market may have 300-400 points gap down opening today, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. But the Sensex may not fall below 15,000 as some value buying may come in at lower levels, he adds.

9:44 AM - DLF seems to have no major support now, says Prakash Gaba, technical analyst, on CNBC Awaaz. If it breaks Rs 505, then there will be no low for this stock, he adds. In that case, this stock will crack and will definately harm the Sensex too, he says. The stock is at Rs 519.95 on the BSE.

9:38 AM - Do not buy in the market today, suggests Prakash Gaba, technical analyst, on CNBC Awaaz. But one can look at going short in defensive plays like IT and pharma and maybe even DLF, he adds. Avoid trading on the long side, he says.

9:31 AM - The downward bias in the market may continue today, says Prakash Gaba, technical analyst, on CNBC Awaaz. Weakness will remain and if Thursday’s lows are broken, then there are good chances that the market tests January lows again, he adds.

ninad avasare
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