Market Report 21 Feb 08

Indian markets seems to overeacting as the global markets , a little negative newz or some minor negative clues the markets lost all gians and looks like bears always wait for the bad signal and started shorting . Shorters are seems to be playing more in markets then buyers.

Even if we compared with in Asian indices we at India always overreact to them in case of loss we fell more then hang sang or nikkei but when its time to gains we dont show much strength .. looks like at this point of time we purely take signal from the US markts and overreact to whatever signal we get special negative signal .

But the day is not far when we overcome them , as of now the positive factor of Indina economy is getting balanced or having less impact as compared to the negative factor of US economy .
We at Indis seems to be more worried for US economy as compared to the US .

Markets will continu to play likle this , ups and downs will continue to be there. We belive to be in bull zone as we are bulls and we think that we can attack back only once we cross 19270 mark . Closing abv that mark we can say bulls are back till its all in ziz -zag u gonna witness.

With the negative clues in US DOW still manage to close in gree with gain of 90 points . But it came down from the day high .
Nikkei alredy trading with gain of more then 200 + points , AS FII are pretty much interested in Japan as of now due to much better economic growth nos.

With the global cueus we will surely have positibe opng and we belive bulls to roar ..
It saw a good accumulation last two days by fund houses and some retailers.
Ruppee is at its low and this could trigger some movemnt in IT segment ..

Watch out for Rolta , TCS here as well with some niche comp ..


SBI and Canara bank reduced the benchmark prime lending rates (PLRs) by 25 basis points, second time in less than one week...

Reliance Energy today outbid Reliance Industries consortium to win the prestigious Rs 6,000-crore trans-harbour link project in Mumbai... its a buy for today..

ABB is in talks for Rs2,000 crore orders from power companies..

Nifty support at 5080-5000 mark.. and resis at 5300-5380 mark..
Nifty is expected to be rangebound in 5000 to 5500 mark.. anything abv 5700 we can see nifty at 5900 lvls...belwo that its all game being played..

Have a grt dAY!!!