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Arvind Sanger, Managing Director of Geosphere Capital is still cautious on the markets, even though downside may be limited. Currently, there is a bear market rally, he said, adding that he sees a “profit bust” coming now. Sanger said that he would not be surprised to see another bear market rally of 30-40%. He is concerned about where the global growth is going. Many challenges remain, he said. He sees the Sensex between 7000 and 12000 levels in 2009.

MUMBAI: Wary traders, who didn’t want to carry positions ahead of a long weekend, turned sellers on Friday sending equities southward for the fourth consecutive day. Tension between India and Pakistan and lower advance tax payments helped bears dominate the ring.

Ipca Laboratories said on Friday that the state run insurer Life Insurance Corporation of India (LIC) has subscribed to its Rs 500 million worth secured, redeemable, non-convertible debentures.

Earnings of cement companies may be under pressure over the next few quarters, as slowing demand coupled with increased supplies due to new capacities will likely weigh down prices, according to analysts.

ICICIdirect.com has recommended to buy Axis Bank above Rs 498 with a stoploss of Rs 496 and target of Rs 505/509/higher.

Karvy Stock Broking has maintained its buy rating on Oriental Bank of Commerce with a target price of Rs 224 in its December 26, 2008 research report.”In a scenario of declining bond yield across tenures and OBC’s high percentage (almost 40%) of investments in trading portfolios with a duration of 1.9 years and almost 1% of excess SLR would make the bank a major beneficiary.”

LKP Shares has recommended a buy rating on Roman Tarmat with target of Rs 40 in its research report. “We believe that given the healthy reserves and book value the management despite a comfortable 60% stake could possibly look at a share buy-back which could act as a trigger. Additionally since RTL holds a four-acre property in Mumbai at a prime location in the western suburb, which is lying idle and could potentially fetch the company Rs 45 per share on outright sale or attractive lease income. With a 4% dividend yield we recommend a BUY on ROMAN TARMAT an exciting small cap pick with a one-year price target of Rs 40,” says LKP Shares’ research report.

LKP Shares has recommended a buy rating on TIL with a target of Rs 200 in its research report. “The Indo-US civil nuclear co-operation deal and the approval of the APDRP during the XI Plan should in our view boost the demand for products manufactured by TIL over the longer-term. During the first half of the current fiscal, TIL posted a 20% rise in revenues at Rs 4.5 billion (Rs 3.75 billion) and a 10% rise in net profit at Rs 148 million (Rs 135 million). Even assuming a 20% de-growth in revenues and a 20% de-growth in net profits during the second half of the current fiscal we believe that TIL is available at compelling valuations.”

Technical Analyst, E Mathew is of the view that Maruti Suzuki is a good trading opportunity on a sharp decline.

Ambareesh Baliga of Karvy Stock Broking is of the view that Reliance Petroleum, RPL can touch Rs 100-105 in one year time frame.

Technical Analyst, Ashwani Gujral is of the view that one can buy Unitech at Rs 22-25.

Source

www.Niftyviews.com

Buy Acc 465 sl 454 tgt 475-486

Nifty broad support at 2920 zone now.Below that it will be weak. Sl for shorts will be 2984 levels.and longs are at 2860 zone.

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