Market Report 29 -April 08

Markets taking some profit booking in yesterday trade ,, and the morng gains were taken as price to exit by many big players by the end of the day.. it culd not sustain abv 5100 lvls though it manage to sustain nifty abv support of 5060 lvls..

There was a caution and very monotenous trade that is being going on on sensex .. traders are playing with the technical lvls as there is nothing to offer by the sensex as of now..

Though analyst are expecting another carnage before a fresh rally but we think otherwise , yes the corection may come but there is nothing such as crash or it does'nt seems possible to touch againg the jan lows..
4800 in nifty wuld play the important lvls for the players to take their positions and it wuld def gonna provide some support to mrkts at these lvls..

Gov of RBI wuld be gvng his decesion on credit poslicy today .. The mrkts will trade in caution zone and will ait for the trigger.. nething that the mrkts player dont like can make some damage to the indices...
though Mr Reddy already showed his concern for the excess liquidity in the system what measures and steps he takes that need to be seen ..

The banking stocks were already in mood of caution yesterday and we have seen some sought of profit booking and unwinding of positions in banking space yesterday ..

Given the high inflation, the central bank may hike key rates. The stock market has factored in a 25 basis points hike in short term rates by RBI..

also The two-day US Federal Reserve policy meeting ends on Wednesday, 30 April 2008. The market expects the Fed to cut interest rates by 25 basis points to 2% and then signal that its rate-cutting cycle may be over for now in the face of mounting global energy and food inflation pressure...

Reliance Communication today said it would launch GSM based nation-wide mobile services by the end of current financial year, to become the only operator offering mobile services on both GSM and CDMA platforms..

cairn , ifci , utv , nagarjun fert,.,, are the few comp to post theri result today...
..
Tata Consultancy Services (TCS) has bagged an eight-year end-to-end IT applications services contract from Scottish Water, a UK-based utility firm, worth Rs 454 crore ..

MindTree Ltd announced on Monday that it signed a multi-year IT Offshoring agreement with ArcelorMittal..

BHEL wins orders worth USD 840 mn ...
..

Stay long if nifty holds abv 5000 lvls.. with 4970 support .. resis at 5120-40 lvls..

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