Market Report 27 Feb 08

It was some how Lalu ji effect that can be seen , some good announcements and the aam aadmi is happy to see the cut in rail fair, the rail budget was a minor trigger for the bulls to react but the majot event would ofcourse be the Union budget , all eyes of bulls are there to take the advantage and attack the bears.
Meanwhile sensex took a good closing with a volatile day , but the gains were their enough to make our calls hits their targets whether they were round pattern brkout calls or resistance lvls brkout calls and newz based calls , all banged their targets and even traded abv that .

We believe the sensex nxt target to be 18100 after crossing 17910 mark today , although the global events looks good with DOQ gaining good amount of points after being report if IBM buyback of equity , the DOw jumped to close abv 100+ points of gains..

WIth the abv then expected rail budget , Sensex is also expected to show some momentum and bulls looks for attck and might be some positive newz and some positive brkout bulls can very well be in form .
What the reason behind the lacklusture of sensex is very less participation from the retail investor as the reason every one know , but it wont take much time for the retail money again coming in in time .

A good budget , can trigger the sentiments and we can see retail ppl again putting their money in the field.
Mid caps and small caps outsmarted the large caps. Realty, IT, Power, Metals and Oil & gas sector were among gainers. Tea sector witnessed huge buying.
IT companies like TCS , Wipro , Infosys and Satyam also get some hope of huge spending on IT being announced in budget.

. Asian indices closed in positive. Europe is trading in green. We expect again green day with mid caps in action as the mid caps were not showed much momentum yesterday in last few trades watch for them today ..

Reliance Finds Natural Gas in Mahanadi Basin.. watch out for newz based buying..

Bharat Heavy Electricals Ltd won a $269 million) order for a power project in Gujarat from Gujarat State Energy Generation Ltd for a 350-megawatt turbine-based plant that will be located at Hariza...

Cairn India has entered the race for acquiring two oil exploration blocks in Sri Lanka..


RELIANCE Energy (REL) on Tuesday said it will buy back equity shares from the open market. The REL board will meet on March 5 to decide on the quantity of buyback, reports Our Bureau in Mumbai. The announcement boosted share prices by 4.59% to Rs 1697.25. According to sources, REL may buy back shares up to 5% of its paid-up equity at a cost of Rs 2,000 crore. The buyback is seen as a step to shore up investor confidence...


NIFTY is expected to face resis at 5361 mark ... and some sought of profit booking come at that lvls , but crossing that mark we can see nifty at 5600.. nifty support at 5250 at 5140 lvls..
Sensex similar pattern faces resis at 18000 and 18110 lvls.. support lies at 17400 lvlss.

Have a grt DAY!!