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Siddharth Bhamre, Angel Broking: The market is likely to open flat. There has been unwinding of Nifty 3000 Calls and build-up in 3300 Calls. I suggest holding on to Nifty long positions.

Technical Analyst, Vijay Bhambwani: The markets welcomed the new year on a cheerful note as the indices gained on the back of bullishness in technology and midcap stocks. The benchmark indices gained over 2 % at close. The traded volumes were lower compared to the previous session, which is a routine indicator on a new year session. The market breadth was positive as the BSE & NSE combined advance decline ratio was 3053 : 655. The capitalisation of the breadth was positive as the BSE & NSE combined figures were Rs 9754 crs : Rs 344 crs.

Hero Honda Motors has announced its sales numbers for the month of December 2008. The company’s 2-Wheeler sales were at 2.15 lakh units versus 2.40 lakh units.

Nirmal Jain of India Infoline expects the markets to consolidate with a positive bias. “We see the Sensex in 9,000-12,500 range. I don’t think the market is likely to revisit its October lows, but this does not imply that there will be a runaway bull run.”

Automobile Corporation of Goa Ltd (ACGL), an associate company of Tata Motors, which manufactures sheet metal components and bus coaches, has decided to partially close one of its plants from January 5. Tata Motors holds 42.38 per cent stake in the company.

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TSR wishes its patrons

Crude prices fell extending its worst yearly drop, on concerns that a global economic contraction will limit fuel demand.

Biren Vakil, Paradigm Commodities: I am negative on gold but positive on silver. For gold, sell MCX February at Rs 13,950 per 10 grams with a target of Rs 13,720 per 10 grams.

Here is a transcript of Commodities Editor, Manisha Gupta’s comments on CNBC-TV18. Also watch the accompanying video.

Source – IndianMoneyPlus.Com

US Markets were closed yesterday.

Asian Markets are trading higher.

MARKETCALLS – Intrday Stock Tips

Buy BANKINDIA above 297 SL 290 Target 301-305-310
Buy ONGC above 684 SL 671 Target 698-704
Buy TATAPOWER above 793 SL 772 Target 811-825
Sell BATA below 105 SL 109 Target 103-101-98
Sell DIVIS LAB below 1328 SL 1350 Target 1313-1307

Always remember, put SL in your every trade.
Strictly follow Above and Below price, then follow strictly SL

NIFTY FUTURE

ABOVE 3049 TARGET 3084-3099-3120
BELOW 3022 TARGET 3003-2970-2934

-Always Remember, put SL in your every trade.