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Market Report
Tuesday, 6 May ,2008

12:31 PM - As long as GMR Infra stays above its support level of Rs 154, it will continue to remain in an uptrend, says Hormuz Maloo of Geojit Financial Services, on NDTV Profit. On the upside, it will face some resistance close to Rs 200, he adds. The stock is currently trading at Rs 161.75, down 2.7% on the BSE. 12:22 PM - Godrej Industries is a good bet for the long term and has the potential to outperform the market going forward, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. As long as it stays above Rs 250, there should be no concerns, he says. On the upside, once Rs 365 is crossed, it can go up to Rs 450-475 in the next 6 quarters, he adds. The stock is currently trading at Rs 309.95, down 2% on the BSE. 12:14 PM - GTL Infra has support at Rs 46 and may face resistance at Rs 80, says Hormuz Maloo of Geojit Financial Services, on NDTV Profit. The stock is currently trading at Rs 56.15, down 2.2% on the BSE. 12:07 PM - As long as Adlabs stays above Rs 650, one can expect it to continue to move up, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. But as it approaches Rs 900, it will face stiff resistance and it will take a long time to cross Rs 930, he adds. The stock is currently trading at Rs 762.10, down 1.1% on the BSE. 12:00 PM - Sensex is now at 17,380, down 110 points from the previous close. Nifty is at 5165, down 26 points. CNX Midcap index is down 0.25% and BSE Smallap index, down 0.27%. Market breadth has turned negative, with 466 advances against 717 declines on the NSE. » Send to friends 11:52 AM - JP Morgan is overweight on BILT and has a target price of Rs 47 on the stock, reports NDTV Profit. It is currently trading at Rs 34.25, up 2.9% on the BSE. 11:45 AM - PFC is in an uptrend, so it is a hold at current levels, says Hormuz Maloo of Geojit Financial Services, on NDTV Profit. The stock will face resistance at Rs 200 and then at Rs 232, he adds. It is currently trading at Rs 179.80, down 3,7% on the BSE. 11:37 AM - Unitech has the potential to go upto Rs 350-355, so continue to hold the stock with a stoploss of Rs 315, says Sudhanshu Pandey of LKP Shares, on NDTV Profit. It is currently trading at Rs 327.30, down 1.1% on the BSE. 11:30 AM - Kotak Mahindra Bank is a hold at current levels, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock has short to medium term support at Rs 740 and may face resistance at Rs 955, he adds. It is currently trading at Rs 853, down 1.9% on the BSE. 11:23 AM - Indian Bank can go up to Rs 167 and probably Rs 180 too, says Ashwani Gujral, technical analyst, on CNBC-TV18. It has support at Rs 137, he adds. It is currently trading at Rs 151.30, down 0.13% on the BSE.

 
   
 

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