Market summary 11 Mar 08

We saw the turnaround in sensex yesterday , it was being told to all the readers of moneygurus in the morning itself that the later half would be session of short covering and lots are shorts are pending to be covered, the covering led to nifty close in green and touching the support lvls of 4800 mark . Sensex also covered and closed marginally in red, the decline in sensex is majorly due to pain in mid caps where the covering was not that much .

With the indices as we have mentioned the banking stocks which were most hit and most of the big houses were bullish on banking stocks has fallen drastically .
The fall was not much in pharma , FMCG, IT..

If u see the fall is almost majorly in reality , capital goods, banking .. and if remember these were the sector in dec-jan where most analyst and major brokerage houses were bullish for coming year.
So here the valution became so streched thatall these sector witnessed stedy deep cut , at this point of time we believe all the sector are equally valued instead valuation looks preety cheap and its time to build your long time portfolio.
Dont fall in prey that sensex will fall to 14K or 12K , and take ur decesion even if sensex falls from here the valution wont be facing much steep correction , Stick to quality stocks and definatley your money willm grow almost 20-30% by the end of year..

The yesterday close was preety much encouraging. Still Oil was boiling too high and trading at its life time high on monday trade . GOLd is also trading at near to its life time high .
That made the Dow jones again fell and loosing all its morning gains.
The DOw will trade like this only till the FEd meet expecting a rate cut from FEd.

Indina markets are likely to have some sort of decoupling as of noww.We may see some sort of pullback with midcaps leading the momentum today .

Quality stocks would never let u fall thats the thing everybody has seen in this bear phase.
LNT yesterday saw a deep cut after the bad news hit the market that LNT has suffered a loss of about Rs 200 crore in commodity hedging by its wholly owned UAE subsidiary, L&T International FZE in the current fiscal

Unitech is on the look out for a strategic partner for its telecom business within the next two months..

ITC is actively looking at new retailing opportunities in the semi-urban and urban markets ..

Asian markets are trading weak and we expect the volatility to be at its peak ,, wait n watch the trend before trading we expect to close in green today .
Nifty resis at 4975 -5103 lvls and support at 4680-4725...

Have a grt DAY !!!