MarKet report 23-May08

Markets looks for some sort of relief now .. as crude falling to 130 mark .. thissems to be consolidation for crude for the next rally ..but there wuld be some sort of short cvring that might carried out what is required here is the good inflation nos which might increase the sentiments and might force traders to cvr their shorts ...

5050 wuld be nifty resistance and upside 5082.... where as support wuld be at 4980 mark...

There is no fresh trigger in the markets the range is gatting narrower nowww.. it was 4900 on the downside and 5220 on the upside but noww it has narrowed more towards .. 5020 on the dwnside and 5170 on the upside .... the range trading on nifty is the signal and the preaprtion of nifty for any kind of rally that rally may be brkup or brkdwn rally ..

Keeping the positive aspects that wuld be lower inflation nos.. good IIP nos .. Good monsson and lower crude..

where negative factor wuld be rising inflation , high crude rising , bad iip nos.. and govrmnt uncertaininty ...

any thing lower side wuld be limited may be 4720 or 4600 .. upside also it wuld be i limited towards 18K in sensex ..

We advise to lighten ur post and buy onlyy with mid term view..or long term view..

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Hewlett Packard clarified that it will not make an open offer for Mphasis shares.. no party time for mphasis share holders..

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Expansion plans of SAIL and RINL on track to double capacity by 2010 at a collective cost of Rs630bn says government..

have a grt DAE and week end '
team moneygurus