Market report 04 FEb 2008

The new month is here , We all from some how who act as in favour of bears were hit by some percentage in this bear VS bulls fight. Bears gradually taken control from bulls and result in some laks of crores wealth being taken away from invetors.

The new month is here and last week closing on the sensex was pretty interstting . The closing came with when whole week was in bears trap and volatility was on its peak .
The coming time volatility will remain as such till we enter into permanent uptrend and investors sentiments get settled off.

The closing lastr week give enough hopes for this week and we hope to see a postive rally this week . Ahead of fresh month and budget the only trigger on charts in comin time we hope to see Indian markets to touch its resistance levels.

But as of now the markets are clearly following the Global markets and we may follow them in all the day trade , as global markets are showing strength from last 2-3 days as of now , We hope to see indian markets with positive openeing and show strength too.

The nifty levels are to be watched and closing below the support levels could give more downside and we may drift down more . Sensex and nifty both are in rangebound as of now.

The makrts need to show its strength and close abv the support lvls for 2-3 trading day atleast..

IT showed a good momentum on Friday we had mentioned alredy last week about to accumulate IT stocks in frontliners as the Fund houses and long term investors are aggresively looking at it ahead of current valuation they are available of. The valuation is much lower then the Sensex valuation . and are trading lower than their PE value as compared to other stocks.


Frontliners in It looks good and still can be accumulated for long term .
also look out for Wipro that is having newz of its foray into defence domain soon ..

Rel comm is again in newz , this time another IPO and it is of Reliance Tower i.e a part of Reliance Communication..
The IPo is planned to raise 6000 cr Rs.. watch out for Rel comm in cming time..

GMR infra is also one pic that we suggest in daily trade to accmulate .. with its newzz of aquistion ..it may show some action..

also look for tata motrs , bhail , ifci today in newzz..

Have a grt day !!