Markety Report 06-May-08

It was a dull trading day yesterday and expect the same today also.. though there is no major dwnside but intrday some cuts are expected.. as DOw closed in red due to the MS getting its bid out from the yahoo and crude boiling at 120 mark... crude is in trange of 113 to 123 as of noww..
Some correction is due ...as we dont expect to fall to 80 mark.. but yesthe crude will definatley boiling too high.. OPEC says they can take it to 200$ mark but ,, thats long away as of noww it will trade in 100-200 range at the lower side..

Today another dull trading day es expected with selective stock in action..
Yesterday UCO bank and PFC witnessed a huge fund buying and u can see the script has gained how much..

Nifty is facing resis at 5250-5300 mark.. as we said earlier... due toweak global cueus ,, weak openg in expected in nifty ,, nifty will take support at 5100-5160 lvls...

DOnt trade long if nifty trades below 5160 mark...
Construction space was in actionj yesterday with GVK , punjlloyd, kolte patil and others...
SOme action might be seen today also in these..

NDTV Imagine plans to enter Hindi film Production by producing at least four mainstream Hindi films in the next one year...

Bharti Airtel Ltd, which is India's largest mobile operator said that it had initiated discussions to acquire a stake in South Africa's MTN, which has operations in 21 African and West Asian countries..

Hyderabad based GVK Power and Infrastructure Ltd, which is modernizing the Mumbai international airport, is restructuring its businesses to raise more money by forming a few intermediate holding companies which intrun will have subsidiaries.. keep an eye..

TTML advanced by 5% to Rs37 after reports stated that the company plans to invest around Rs1.65bn in Gujarat on expansion. The company plans major expansion in the rural areas of the state. ..

Patel Engineering has bagged the US$280mn Taum Sauck Upper Reservoir Dam reconstruction project in USA..

BNP Paribas and Geojit Financial Services have worked out a plan to overcome the regulatory hurdle that has come in the way of the French banking group picking up the majority stake in the Kerala-based broking firm..


Finolex Industries plans to sell off its SEZ land in Pune for Rs4bn..

Kesoram Industries has lined up Rs8.4bn expansion programme at its Uttarakhand tyre complex..

seems like we are in range of 5000 to 5300 as of now..so trade accordingly with buys at lows and sell at highs..

have agrt day