Market Report 29 -April 08

Markets taking some profit booking in yesterday trade ,, and the morng gains were taken as price to exit by many big players by the end of the day.. it culd not sustain abv 5100 lvls though it manage to sustain nifty abv support of 5060 lvls..

There was a caution and very monotenous trade that is being going on on sensex .. traders are playing with the technical lvls as there is nothing to offer by the sensex as of now..

Though analyst are expecting another carnage before a fresh rally but we think otherwise , yes the corection may come but there is nothing such as crash or it does'nt seems possible to touch againg the jan lows..
4800 in nifty wuld play the important lvls for the players to take their positions and it wuld def gonna provide some support to mrkts at these lvls..

Gov of RBI wuld be gvng his decesion on credit poslicy today .. The mrkts will trade in caution zone and will ait for the trigger.. nething that the mrkts player dont like can make some damage to the indices...
though Mr Reddy already showed his concern for the excess liquidity in the system what measures and steps he takes that need to be seen ..

The banking stocks were already in mood of caution yesterday and we have seen some sought of profit booking and unwinding of positions in banking space yesterday ..

Given the high inflation, the central bank may hike key rates. The stock market has factored in a 25 basis points hike in short term rates by RBI..

also The two-day US Federal Reserve policy meeting ends on Wednesday, 30 April 2008. The market expects the Fed to cut interest rates by 25 basis points to 2% and then signal that its rate-cutting cycle may be over for now in the face of mounting global energy and food inflation pressure...

Reliance Communication today said it would launch GSM based nation-wide mobile services by the end of current financial year, to become the only operator offering mobile services on both GSM and CDMA platforms..

cairn , ifci , utv , nagarjun fert,.,, are the few comp to post theri result today...
..
Tata Consultancy Services (TCS) has bagged an eight-year end-to-end IT applications services contract from Scottish Water, a UK-based utility firm, worth Rs 454 crore ..

MindTree Ltd announced on Monday that it signed a multi-year IT Offshoring agreement with ArcelorMittal..

BHEL wins orders worth USD 840 mn ...
..

Stay long if nifty holds abv 5000 lvls.. with 4970 support .. resis at 5120-40 lvls..

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Market report 28 april 08

Sensex saw a brkout on fidays trade with nifty and sensex both showing the bullish pattern on charts , a brkthrough was enough as sensex closed abv 17100 mark and nifty will now find major support at 5043 lvls . The brkthrough was enough supported by the telecom players on friday when the rcom and bharti both gained momentum and closed with significant gains ..

We have gvn buy call on both Rcom and bharti .. and ourmemebrs have reaped enough intraday gains .. still we are pending on few trgts of friday calls..

ICICI and HDFC came out with very good nos ,,, which the markets were not expecting and the result wuld may be shown today , althogh some big intrday movmnt is not seen but yes the strong opng and follow on will be enough .. midCAPs will try to cm back and ofcourse oil and gas wuld be in action ahead of the crude prices trading at 118 $ ..

DOw jones on friday closed with the marginal gains ..Nikkei is following the gains and is trying to brkout .. with more then 100 points of gains ...

nifty abv 5100 will try to touch 5180 and 5200 lvls .. and may find some reisis at that lvl..

Alok Industries, Bata India, CESC, Eicher Motor, Finolex Cable, Glenmark Pharma, Godrej, Hexaware, REL, RNRL, SESA Goa and Welspun Gujarat etc are some of the major results to be announced today,, we are bullish on welspun , CESC, RNRL , here for good returns..

watch out for ..

Cairn India, which operates Ravva oil & gas field off the Andhra Pradesh coastline, on Sunday announced that it managed to extract 200 million barrels of oil from the field which was estimated to contain extractable reserves of 101 million barrels..

DLF plans Rs 1,250 cr to expand multiplex biz ..

Reliance Industries Ltd (RIL) is set to acquire majority stake in an oil block in Peru..
Reliance Industries plans to set up agri goods terminals in nine cities with an initial investment of Rs10bn..

Pyramid Saimira is looking at raising Rs15-18bn by listing its film production business..

Reliance Communication to invest Rs10bn on international data centres in the country.. watch out for out trgts today ..
..
Biotech major Biocon plans to set up a subsidiary unit for its research and development ...


trade with nifty if stays abv 5000 mark for bullish zone..
nifty at Support at 5060 Res 5180..

have a grt week ahead..

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