Market Report 29 Feb 08

Today FM is the key to open the locked doors of bulls , all bulls are trapped and only FM holds the key to show them the way . The Union budget today is being looked as major trigger by many of the investors but many of the analyst says as its as no major event .
But we see it as some how major event for the bulls , a good abv norms can definately boost the confidence and can make bulls some win over the bears.

The last 3-4 days trading session we have seen markets being going noway , and finding themselves away from the global markets , its in some how got decoupled from the asian markets and trading on its own.
Yesterday trade in case of FNO expiry was very sluggish and choppiness was seen . But sensex and nifty both did'nt broked their suport lvls.

It is been advised to the investors and resders to just wait and watch today policy and lets c how markets reacts to the budget.

FM is likely to gv some positive announcements for textile . pharma . IT. Pharma is expected to hv some tax benefit in RND services.

Fertilizer will also be looked at for havng more subsidies in their favours,, nagarjun , chambal , deepak ., nocil .. keep an eye..Oil sector was in limelight from last 2 months , sector is looking for number of tax and duty changes and has greats hopes from the FM ..similar from the Automobiles sector which is hoping for some reduction in excise duties from FM..

FII also benefir with some FDI and investmenst could be increase in space like insurance , finanacial, banking, media , aerospace and others...

More or less even a flattish or average budget will take market to nowhere becase markets are alredy at their bottom so what expected form here is .. the downside is limited and maximum to 4800 where the sensex formed the double bottom ..

But any good newzz and positive statements can take markets to be carried away by bulls.

watch out for ...

India bulls acquire its partner Dev Property Development (DPD) in an all-stock deal...

Gammon India has filed the Red Herring Prospectus in connection with the IPO of its subsidiary Gammon Infrastructure Projects Ltd (GIPL)...

Apollo Hospitals is likely to set up a Rs 280 cr hospital in Mauritius..

NIIT Technologies has acquired German-based SofTec GmbH..

Sonata Software Ltd has teamed up with Oceanus, a UK based company ...

DLF is likely to invest about $5 billion or Rs 20,000 crore to build and operate more than 25,000 rooms in the next 7-8 years....

Aban Offshore Ltd has received a 3 well contract offshore Myanmar...

trade with proper stoploss and cautious today...better to just watch the game....

Have a grt DAY !!!