Market REport 27 may 08

A head to head fight between bulls and bears and in the end bears somehow were sucessful in taking the momentum to their side ... with a steep fall in the end ... though nifty closed abv support of 4840 but the fall was mainly led by banking sector on rate intrst newzz..

crude falling to 128 lvls that is just a measure of retracement as its preparing for another rally ... for 145 mark this time .. from then it may cool off ro 110-120 lvls to settle at the EOY..

Ecpect a choppy trade today also ... as ASian markets trading at marginally freen with clues from US .. We are expected to take a zig zah curve in nifty with mood either way.... Mid cap wuld be in action once again with stock specific momentum...

FNO expriry ahead we suggest to trade minimum and in small quant and better stay away frm FNO..segment..

India's second largest listed telecom services provider by sales Reliance Communication (RCom) rose 1.57% at Rs 551.75 on reports the proposed deal between Reliance Communications and South Africa's MTN Group may involve an open offer by the South African telecom firm to the shareholders of Reliance Communications. The deal may result in a transfer of Anil Ambani's two-third equity stake in Reliance Communications to MTN shareholders, the reports added....

Nifty May 2008 futures were at 4851.90, at a discount of 7.90 points as compared to spot closing of 4859.80..
.keep an eye on following..

Maytas Infrastructure wins contract for washery reject coal based power project..

GVK group is looking for opportunities in overseas airport development projects..

Gujarat NRE Coke to raise fresh equity to fund its operations and expansion plans in Australia..
EKC is planning to invest Rs1.75bn in expanding capacities across plants in US, Dubai, China and India...

Fertilizer Ministry expects fertilizer subsidy to double in FY09 to Rs950bn...
Fertilizer stocks got a boost after media reports stated that FY09 fertilizer subsidy was seen at Rs95,013cr. Fertilizer stocks like Chambal Fertilizer surged by over 6.5% to Rs76, Nagarjuna Fertilizer advanced by over 2.5% to Rs45, National Fertilizer gained 2.2% to Rs47, Deepak Fertilizer was up by over 1.6% and RCF added 0.5% to Rs68....

FII inflows are yet to turn positive though domestic funds are providing some support. 'Stay cautious and sell into any rally' should be the ideal strategy...but stock specific buys can be done...
nifty suppp 4800 lvls resis at 4930...

have a grt day ..!!!