Market Report 18 FEB 08

Markets last week was in see-saw zone with loosing its gains in the first three days and cvring almost all the losses preety fastly. Sensex closed gaining almost 1500 points from the last three trading sessions. The upmove was more or less a kind of short covering followed up wih good global cues and some bottom fishing by the FII and domestic investors. The markets are likely to continue its gains of the last week with REL power giving positive newz to its share holders of issuing the bonus shares excluding the promoters.

The nifty last week tumbled to below 200 DMA and closes well abv that at 5300 mark .. The nifty might rally up to the resistance zone of 5545-5600 mark in short term rally . FII are expected to pump up the money on the prebudget expectataions , The pre budget rally may give sensex support at 17150-17250 and might face resistance at 18950-19000 lvls..

There are multiple resistances around the 19,000 mark. The weekly and monthly charts show resistance at 18,900-18,950, while the quarterly chart indicates resistance at the 19,000 level. The index may face resistance around 18,750-18,950-19,150 this week, while it is likely to find support around 17,470-17,270-17,070.The Nifty moved in a range of 512 points. From a low of 4,804, the index rallied to a high of 5,315 and finally settled with a gain of 3.6 per cent (183 points) at 5,303.The index dipped below its 200-day daily moving average (DMA) last week, but has bounced back sharply and is now above its long-term (200-day) and short-term (20-day) DMA. The long-term DMA is 4,998 and the short-term DMA is 5,178. The medium-term (50-day) DMA is 5,700.If the Nifty crosses the 5,400-mark (quarterly resistance), it may rally up to the 5,600-5,700 resistance zone. This week, the index is likely to find support around 5,105-5,050-4,985. On the upside, the index may face resistance around 5,500-5,560-5,620

We expect markets to have a long term uptrend once it closes abv 19150 and 5600 in nifty..

Rpower will be in limelight today , with the newz of bonus share we expect the script to touch its issue price of 450 and abv ,ALL who are readers of moneygurus and are registered with us we have alredy given buy call at nifty 4850 and now we are sitting on pretty good profits of 20-30%..

AT the time nifty was trading below 200 DMA we initiated buy calls .. and here u can see the result..

Watch out for..

UTV Software is reportedly selling 17.15% stake to Disney for a whopping Rs.1300 crores..

Gammon India is floating a logistics firm and is investing Rs 300 cr in the venture.

Tech Reliance, the information technology company being floated by Reliance Communications (RComm) is likely to tie up with Accenture.

Ess Dee Aluminium is reported to acquire reeling India Foils soon

Canara Bank is all set to enter the booming broking business, to launch online trading soon

Jindal Power, a subsidiary of the BC Jindal group, plans 4,500MW generation capacity in four years

Jindal Saw would invest Rs3.5bn to expand its seamless tube business..

Hindustan Construction Company and Dabur plan to foray into wine business..

Sesa Goa is likely to gain amid reports that Japanese steelmakers, led by Nippon Steel Corp., have reportedly agreed to a 65% increase in annual iron ore prices...

Positive opng . with steady trade...

Have a grt dAY !!