Market Report 05 -Feb -08

Sensex continued its gains of the friday and we witnessed a good pull back of nearly 1000 points in last two trading sessions. The markets was looking very good and intraday gains were also sustained yes in the end market came down from its resistance lelels closing with good gains.

All the asian markets also traded very strong yetserday and closed with decent gains.

Today we have ssen some amount of profit booking being going on in DOW Jones . The DOW closed by loosing a three figure mark by over 100 points. Asian markets also trading weak with all Asian markets in red , seems to be some profit booking by investors as the confidence is still not back .

Indain markets showed very good momnetum ..

Our calls of yesterday inclusing rcom with newz of value unl;ocking did trigger the price of script with script price touching the high of 699 .. closing a bit below its days high lelvs,,

Crossing the resistance lvls the script can further go upto 723-753 lvls..

Other calls inclusing IGL , JSW , Tata Motrs , GMR infra , BHEL through Moneygurus also rocked..

Today we have to see whether our markets can isolate themselves from rest of Asia and can show some strength , We believe a flattish kind of openeing , Markets looking good as FII were net buyers yesterday trade .
Openeing could be negative but intrday swings would be there, so take cae while buying and dont get trapped at higher lvls of buying..

watch out for .. Prithvi info sol today with its order newzz of 300 cr..

ICICI Bank will share its home loan business with its 100% subsidiary, ICICI Home Finance Co. The bank plans to finance home loans only up to Rs2mn while home loans above Rs2mn would be provided by IHFC...

REL comm and bhartii watch out as decks have finally been cleared for the likes of Bharti Airtel and Reliance Communications to provide IPTV services..
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GVK Power plans to set up a thermal power plant at Talwandi Sabo (1,800 mw) and another coal-based power plant near Rajpura (1,200 mw). .. looks good in dips..

Voltas is likely to bag a large overseas order worth Rs6-8bn..

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Lok Housing has proposed to issue 5mn convertible warrants on a preferential basis to three promoter entities at a conversion price of Rs354 per share..
Jindal Saw expects its infrastructure, transportation and fabrication (ITF) subsidiary to contribute around 50% of the company’s top line by 2012..

good buy .. jindal saw..

Yes Bank is planning to raise up to Rs7bn through issuance of two crore fresh equity shares.. our buy call was at 230 .. now 250 +.. keep holding..

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trade with caution .. volatile day expected..

HAVE a GRt DAY !!!