Market summary 4 Mar 08

Markets took a breath taking cut yesterday and slips by almost 900 point in the intrday . The cut was deep and never expectred. The day of budget always gone with some blood as we have seen may be on that day or on the second day , the cut is there and we have seen that . the sensex fell 400 points in the monrg and was trying to recvr but in the try , the cut get worsened and the sensex gone below with nifty 200 DMA , markets below 5000 and 4975 is considered to be ruled by the bears and bulls looks like gone for the long holiday ..



The rumurs of sensex catching the 12K was on the peak yesterday , how much shorters are involved in that we dont know but rumurs were there , if we look at the volumes chart the volumes have came down to swerely low lvls , Brokerage stocks are alredy feeling the heats and are beaten down ..and we expect further weakness in the brokerage stocks.. so stay away from these...



Markets are in the no way zone , we expect nifty to be in range of 4800 to 5300 in 2-3 months time frame .

Anything below 4800 will be inviting nifty to touch its jan lows and it is supposed to be the second bottom out by nifty.

Nifty has tried 3-4 times to cross its 5500 resis lvls but unable to do so..



Right now the condition is bad, and we may see another weak day in sensex, as sun outage is there it shows in record during sun outage times markets mostly consolidate...



Oil and Gold are in no way of stopping a new highs both are riding a new rally are are trading at all time highs..

Asian markets are firm with some weaknes so we may expect some firm kind of indian markets too.

FM really was unsuccesful in chearing up the much awaited budget , despite he decided to put some bad news as always on the bulls of dalala street and helping them to go on holiday.

The whole budget was decided to get the vote bank , as we all know that 80 % of wrking ppl does'nt go out for voting and who goes for vote is ofcourse the people live below povert line and ppl who need govrmnt for them ..



This budget shows how important people are , who are getting wheat for us..

Anyway the situation right now in sensex is miserable, for get the day trading , but long term investors keep hunting stocks ...

FM said that the Indian economy is not decoupled from the Us and effect would be there , how much we have to see..

Another prominent investor, the legendary Warren Buffet says the US economy is essentially in a recession ..



A consortium of Adani group, GSPC and Essar Oil, plans to spend Rs100bn to build a LNG regassification terminal at Mundra in Gujarat..



MRTPC has found Cement Manufacturers Association and nine others including ACC and Grasim Cement, guilty of cartelization in Jabalpur (Madhya Pradesh) during 2000 and 2001...



JSW Steel will be setting up a 3mn ton cement plant at Salboni in West Bengal...



Sintex Industries is scouting for companies in the composites space and has earmarked US$150mn for the same..



Bank of India is looking to sell aggregate stressed assets of around Rs2.5bn to an asset recovery company..

Be stock specific and book profit timley..



nifty support at 4850 lvlss ressi at 5050.. lvls