MARKET REPORT 16 JAN 2008

Markets has seen a a substantial correction from last 2 days , yesterday it was a closing below our expectation mark. We have already told our readers to watch out for nifty below 6100 mark. any closing below that could make a dip to 6022 and 5980 lvls.

Yesterday correction was very much to its midcaps .

Here GLOBAL weakness is also playing a crucial role and as global markets are trading weak .. we are getting pressured and some sentiments are being effected.



SMALL caps and mid caps have undergone a mamoth beating and have undergone a huge correction . SMall caps which are from UC in last small cap rally are in no sign of getting up from lower circuits now .



ALL retail investors who all are trapped at higher levels have almost burnt their fingers.

The same story is with the mid caps which have corrected almost havinly from their higher levels .



We suggest investors that can accumulate quality mid caps at these leves and who have invested at higher levels can average out their buys .



Sensex is a bit weak now but a pre budget rallly is on the cards .

We expect sensex to get a new highs in jan end itself so investors would be hereon advised to stay invested.



Sensex for uptrend to continue must have a closing abv 6300 mark which is playinga crucial resistance for sensex. ANy closing abv that would be making sensex to form a intermediate uptrend...



We are still in favour of our reccom JP ASSOC .. it can be accumulated , strong support at 400 lvls.

Specially after it is being allocated with Ganga expressway .. a huge deal it gt a big target on charts.. for long term..



Citigroup reported an almost $10bn quarterly loss that was worse than expected..Wall street seems like in pain and more pain .. it needs some very good results and strong declartion to rcvr from thses lvls..



The mega Rs12,000 cr Reliance Power IPO looked to be attracting a lot of investors as markets witnessed a constant fall in volumes. It was visible that traders and investors were selling stocks to participate in the biggest IPO in history. Media reports also stated that frontline stocks like ICICI Bank, Bharti Airtel and NTPC witnessed delivery based selling...







SBI .. The board of directors of the company cleared the proposal to raise capital through rights issue in the ratio of 1:5 at a price of Rs1,590.





ITC all set to set upa new manufacturing unit..



SBI , PNB , BOI a;; set to enter pakistan.. keep an eye on banking space today taken a huge beating yestrday..



Tata Motors plans multi-manufacturing hubs that will focus on making different vehicles at different locations. it can be accumulated on all dips...



FII were net sellers in yesterday trade in both cash and FNO ...



dips buy can be done in ITC , SBI , indiabulls finance, prime sec , geojit, SBI , ntpc , jp assoc...





SENSEX support at 20020 nd 19800 lvls..



HAVE A grt DAY !!!