Market Report 30-April 08

It was a wait and watch day for the markets yesterday untill The RBI Govrnr came up with monetry olicy .. the Govrnr shocked the markets with positive and it was all out of the expeectation .. even the major economist who were estimating the GDP growth of 7-7.5 %.. the RBIdeclared the growth forcast of 8-8.5%...Even the repo and RRepo rates were kept unchangd which wasa a majot booster for the mrkts . He hwevr incrsd the CRR by quarter % ..to suck the excess liquiduty..
But if we follow tha major bankers that wont effect much in their PE values and rates hikes as of now is tottly ruled out..

Reality and other sectorspecific saw a immediate rection and stocks like DLF n Unitech were in action .
Our clints have reaped the benefits of both stocks ..

AS we have reccom DLF @ 600 and 660 and unitech @ 265 lvls.

Banks were in action and moneygurus specific call of Axis bank gained almost 40 rs from its buying lvls..

The nifty crossed the 200 DMA and was traidng with very strong volumes on the charts . THE fund houses were bullish on the nifty as of now. We have gvn to stay long in nifty with SL of 4800 @ 4925 and here we are alsmot300 points plus in nifty for nifty traders..

The markets wuld face stiff resis at 5250 and 5300 lvls now in nifty and significant selling can come at those lvls specially in the large caps and frontliners..

May special FNO call RCAP @ 1390 gained and closed almost at 1500 lvls.. and we are out with another big bang FNO call for our moneygurus subscribers.

RPL was reccom to clients @ 172 and 190 lvls.. @192 for FNO yesterday ..Momentum is seen in RPL ahead of its refinery completion newz ahead of the scheduled time ..

We have our profit booking lvls.. and we hve bookd the scripts accordingly..

BSE IT index also showed strength after Finance Minister extended the income tax exemption for software companies by a year to March 31, 2010. Stocks like TCS, Wipro, Satyam Computers and Infosys were among the major gainers. ..


Today, the Fed will announce its policy on interest rates and provide some clues on the outlook for the US economy..If FEd does'nt cut rate it wuld be considered as the economy is improvinng and if cut rated... still the investors wuld be happy so in both cases its .. win -win situation.
..

watch out for..

Reliance Power to spend US$650mn on Indonesian coal mine..

Cairn India to start Bhagyam output in 2010; receives approval to develop field with peak output of 40,000 barrels per day..

GVK group plans port close to SEZ in Tamil Nadu..(keep an eye)

3i Infotech acquires 100% stake in Regulus a US based company for US$80mn..


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have a grt day ...