MARKET REPORT 176 JAN 2008

It was a terrible day for the markets , with sensex plunges 700 points down in intraday swing , closing below the support lelvs of 20,000 which is not good for the bears . although on ahead of the short cvring in the last hour of trade the recovery was there , but more or less the damage was alredy done , the sensex some hoe closed abv 19800 lvls.

GLobal weakness continue to shatter the dremas of bulls in INDIA and markets as of now is in short term downtrend . THe sensex needs top close abv 20220 -30 lvls to get into an uptrend .

below that it can touch the lows it had made in last month .

THe overall growth story of markets is good and investors need not to panic , cash investors would be advised to stay invested and buy quality midcaps form here on which do no have much downside , we have mentioned stocks in yesterday post also ..

The consolidation is good and its good for the rallies each time we have a consolidation the markets jumped back very impressively and the this time we expect the same from markets to make a new highs .

MID caps saw a deep cut with all frontliners were down ..
RCOM was a big looser it has broken it short term support of 775-780 and same time shorters attcked it to close at 731 lvls. traders can keep a sl of 720-725 in this scripts and can buy more whoa ll are caught at higher lvls.

NTPC looks good in short term buyings in dips ahead of its valuation with the RPOWER ipo.

Today its a big DAY for the BIG DADDY of indian markets RELIANCE indus ..ITS looks good for intraday also ahead of its result ..IF predictions goes corect RIL is expected to gave good result with bottomline may cross $1 billion mark..
bulls really rely on RIL today for its momentum , as global markets gave away all the gains as similar with DOW jones that had given away its gains ahead of subprime crisis ..

Immediate trend is not clear and markets are expected to remain volatile .. and bounce back onlyy with some newzz trigger . FED rate cut and RBI policy are the two main triggers here ..
and till that markets are expected to remian choppy ..

NTPC to foray into power equipment manufacturing after getting a clearance from the board for a JV with Bharat Forge..


Sterlite Energy is planning a pre-IPO placement of US$1bn in next couple of months..


Simplex Infrastructure to foray into thermal power generation through a JV..

Gitanjali Gems forms five wholly-owned subsidiaries for developing SEZs....

HAVE A grt DAY !!!