Summary of wednesday 30 sept market

It was another fantastic day of trade and our market was the best performing across Asia. Sensex closed above 17000 for the first time since May 8, 2008. Sensex shut shop at 17126, up 273 points and Nifty at 5083, up 77 points from the previous close. CNX Midcap index was up 1% and BSE Smallcap index was up 0.94%. There was good buying in banking, auto and capital goods stocks. The market breadth was positive with advances at 751 against declines of 515 on the NSE. Top Nifty gainers included SBI, Axis Bank and ICICI Bank while losers were ONGC, GAIL and Suzlon.

First Call

30 September 2009

GAIL (GAS AUTHORITY)

Execution Price Range Stop Loss Target

Buy Between Rs 360 to 364 358 370

DLF

Execution Price Range Stop Loss Target

Sell Between Rs 428 to 432 435 420

AXISBANK

Execution Price Range Stop Loss Target

Buy Between Rs 924 to 928 920 937

The market opens on a flat and quiet note. Earlier, the US markets ended lower and closed with some losses. Asia is trading soft after a quiet opening. Oil India gets new listing at Rs 1105 per share. Sensex is trading at 16906, up 53 points from its previous close, and Nifty is at 5015, up 8 points. CNX Midcap index is up 0.4% and BSE Smallcap index is up 0.5%. The market breadth is positive with advances at 535 against declines of 145 on the NSE.

THE STRATEGIST For 30/09/2009

Strategies for the day

Date Company View Strategies Action Risk Reward

30-09-2009 MRPL BULLISH BUY CALL BUY 95 CA @ 4.50 6675 13350

OCT. EXPIRY

SL : 3.00 TGT : 7.50

The market may open with good gains but will continue to trade in the range of 4900-5050, says Anil Singhvi, market expert, on CNBC Awaaz. He advises buying at 4950, which he adds is a strong support level, and booking profits in the range of 5035-5050.

Tuesday 29th September Market Summary

It was a good trading session as the market consolidated with a positive bias. There was good buying in IT and healthcare stocks. Sensex shut shop at 16852, up 159 points and Nifty at 5006, up 47 points from the previous close. CNX Midcap index was up 0.61% and BSE Smallcap index is up 0.93%. The market breadth was positive with advances at 770 against declines of 493 on the NSE. Top Nifty gainers included Sun Pharma, Ciplaand TCS whole losers were BPCL, Unitech and Ranbaxy.