Market Report 28 Feb 08

Markets again attacked by the bears in the later half and the trigger was none other then the negative news from the credit concern from the europe and when the europe opened in red, the sensex overreacted and bulls were again beated down by bears .
The data clearly shows the FII creating fresh short positions and even the shorts being rollover by the march , time is not far when the trend will reverse and the short being converted to longs .

Indina seems to be overreacting to any mild -ve news and neglecting all the positive news , but we have faith in emerging market of ours when hangsang was up and closed with modest gains why sensex being chopped and made to fall , ofcourse the sensex is anytime giving better retun then hangsang .

What all is needed is a good budget and here we goo ...the bad days will be gone. Meanwhile the stock specific momnetum continies and news based buying was there . We had asked all not to catch up in early spike so no calls were gvn in monrg but mid dayn calls and btst were target hitters by moneygurus.

ANyone can regiter with us and enjoy the free service , as of now at the given link .

Today with the DOw closing with flat , Asian markets are trading a bit weak and ofcourse when sensex could not stand the postitve markets how would it react to the weak market but we expect sensex to show its momemtum in the later half and what we have lost yesterday will be balanced today , so we dont advise u to biuld any short positions from here on .Short can only be build if nifty cant stand 5250-5200 mark abv that there should not be shorts build up.

FM would be in action tommorow expectation od textile , fertilizer , infra ,rubber , jewellery ,IT and ofcourse export sector all these were hit by ruppee appreciation factor. and gonna get some advantage ..we are out with momentum calls for budget..

Expectations are that the corporate income tax rate may be cut or the 10% surcharge on corporate tax may be abolished. The surcharge is 10% on a tax rate of 30%, making the effective corporate tax rate 33%. Another possibility is that of a cut in dividend distribution tax from 15% to 12.5%. ..
Also FM may raise the Securities Transaction Tax (STT) slightly. STT is currently at 0.125% on delivery trades. STT is 0.025% on non-delivery trades on sell transactions. STT is 0.017 % in futures & options segment on sell trasactions.



Watch out for ..
SpiceJet is likely to fly to gulf and china..
BGR Energy Systems has won a BOP contract worth Rs 793 crore from the Andhra Pradesh ..

Nagarjuna Constructions is actively looking for a foreign partner for getting into auxiliary equipment business, used in power plants...
Dabur Pharma is looking out for a buyer and said to be in advanced stage talks with a renowned PE firm...

Shasun Chemicals formed an exclusive deal with global pharma biggie Merck & Co ..

Trade long if nifty holpd 5250 mark . nifty got good support at those lvls..
resis at 5301-5365 lvls..
Have a grt dAY !!