Market Summary 23 june 08

With the inflation at 13 year high and markets trading at yesr loww with many scrips looking like a quite a good buy frm these lvls .. indian investors would be in the quite a bit confused state ,,who all bought at high rates when sensx was at 21K and still waiting for their buy price to come so that they can exit and the hope is still on . .. members of moneygurus have rotated the circle 3-4 times and has minimized the loses because we werelaive even in the bear mrkts due to huge support of our readers and members..

With a huge correction on fridday the mrkts today expected to have a another bear day ..Bad rollover , fno settlmnt day likely to put lots of pressure and volaitility wuld be at its weak...
all knows we have lots od shrts opnd as the nifty discount u can easily predict so shrt cvring in between can gv u smspikes in btween but dnt fall in that trap considering it a bull rally ...

we have support at 4220 in nifty today and resisi at 4370 lvls .. 4280 in nifty might take some support too...
Mid cap IT looks good as the chance of dwnside frm these lvls is almost nil.. so investors can pik some quality mid cap it .. Rolta , Aftek , naukri , nucleus are few of them with some moneygurus special scripts reccom ...
Jindal Drilling surged by over 4% to Rs1577 after the company on Wednesday announced that the board of directors would consider stock split on June 30, 2008. ..

The outcome of this week's Federal Reserve meet and that of the UPA-Left panel on the nuke deal will have some bearing on the sentiment. The US central bank is not expected to cut rates, and may even hint at higher borrowing costs going ahead. One will have to wait and listen as to what Bernanke & Co. say about the future outlook on the US economy and interest rates.

Today, we expect another gap-down opening..FIIs continue to be heavy sellers even as local funds are continuing their shopping spree. The market will remain under pressure unless crude oil (and local inflation) cools off sharply and FIIs turn net buyers...
stockin newzz are..

Essar Shipping Ports and Logistics to invest Rs 100bn for the development of shipping, ports and oil field services over the next three years.(..
Hindalco Industries plans 1:3 rights issue to raise Rs50bn..

DLF to get around 5,000 acres near greater Noida at less than market rate under the Taj Expressway Industrial Development Authority’s scheme...
Ranbaxy to continue to pursue acquisitions despite the change in its ownership..
Reliance Industries USA to invest US$215mn and create 200 new jobs at a newly acquired polyester plant in the US..
Reliance Power plans to use for setting up 4,000MW UMPP at Sasan in Madhya Pradesh.
Punjab National Bank to raise deposit rates by 50bps..

S Kumars subsidiary Reid and Taylor may sell stake to a European fund for Rs150 per share,,

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have a grt day .