Market Report 26 Feb 08

Markets took a U turn yesterday , and from the lows where it was looking like we are in completely selloff zone some short covering and some momentum buying caryy over the trades top give sensex a good green closing of 300 + points . The rally came as expected with the union budget on line and likely the event has been taken as positive by the investers. If we dont have any negative newz flow and with couple of good newzz we can easily breach that 5600 mark and can touch 5800-5900 in nifty . But same time if FM unable to please the investors , we can see markets touching the Jan lows.

Yesterday rally at the later half was some how can be a relief rally , short were covered and mainly european markets opened green had given the major booster to the markets.

DOw yesterday had a decent gains ,with tyhe newz of ambac rating affirmed newzz.. Yesterday trade nikkei showed some excellent action and and was up more then 400 points , The nikkei is witnessing the fund buying and we have seen that several rallies in coming time .

Hangsang also in momentum today and we saw no reason for sensex to not take part in party , markets are expected to make some good moves and nifty could easily touch 5310 lvls where it faces a minor resistance...

our calls on yesterday buyes all banged the given targets and we were 100% on our call rates yesterday trade.
The markets are showing some different trend as before we use to see buyers coming in at dips but as of now we see the sellers coming in at upper lvls,, so thata very bad sign for the bulls.
But India is a long term growth story and time is not far we just need few trigger few positive thoughts and we can see markets back in action , people can rememeber the time last year when markets were tumbling at minor rallies and range bound sessions as a minor trigger and we saw some huge action .. so time will change..

Stock would be in action
GMR as the airport are almost ready and we expect to touch 200 lvls very soon , our registered clients hv alrdy got the buy call at 150 and 170 lvls..

Godawari Power and Ispat (GPIL), based in Chhattisgarh, is mulling foray into commercial power generation..

Crompton Greaves on Monday announced a tie-up with Dutch firm Lemnis Lighting for launching LED lighting products..

ONGC has notified four discoveries of crude oil and natural gas ...

Tulip IT Services having raised $150 million via foreign convertible currency bonds (FCCB), has earmarked around $40 million for an acquisition in the US having managed services ..

Nifty abv 5250 is considered to be bullish look out for nifty trgts at 5300-5360 lvls,, longs can be maid with nifty holding 5200 lvls.. below 5200 we can again see the DMA .. so better to exit longs at below 5200 mark..

Have a grt DAY!!!