Market report 2 May 08

Wednesdays trade was a merely wait and watch trade .. and investors and traders were cautios abt the Fed meet ahead,, so it was all in a limited bandwagon ..
Yesterday, Federal Reserve cut interest rates in US by another quarter percentage point bringing it down to 2%. This was the seventh rate cut by the Fed since last September, 2007..
The DOw jones on ahead of this lately realized and seems to be in party mood for trading ahead of the 13K mark . DOw gained almost 190 points .. in the yesterday trade and Nasdaq with 60 + points ..

on the economy front in Us ..., advance first quarter GDP rose by 0.6%, topping the consensus estimate of 0.5%. Separately, the ADP Employment Report, a measure of nonfarm private employment, showed an increase of 10,000 jobs in April, easily beating the consensus estimate that called for a decline of 60,000...

Crude and Gold bith fell and were trading to its month lowss ahead of this ...

Japnese mrkts are also trading strong and Indian markets are likely to follow its asian peers..

5250 in nifty plays a important barrier and bulls will try to cross these lvls..
We expect a huge shrt cvring if nifty crosses 5250 mark decesively .. but again as big analyst and big fund houses .. are saying .. thanks to leading TV channels that they predict markts are hands of bear and its a technical pullback in bear mrkts ..

we dont belive in bear mrkts .. inflation is a concern but growth if indian economy is intact , no doubt its the expensive mrkts of all its peers but the RoR is also the highest..

Nikkei is trading abv 14K and hangsang also with strong 500-600 points gains ..

There is no major trigger to the Sensex as of now . so it will majorly takes the clues from the asian markst and result of some of the leaders...

Stock to watch today are..
Mindtree is in newzz ahead of its takeover mood to aztech.. . Mindtree is one of the best mid cap scripts in IT and ahead if its takeover in Aztech we expect the futr is good ..
keep en eye..

The praj reccom by moneygurus made the firewrks on wednesday closes at 200 mark .. huge accumulation was there in praj and we may see some spike today also...

also Titagarh wagons which we reccom at 680 markst made a amazing 17% rise .. and there is more to come in this scrit..

R-Power to buy more coal mines in Indonesia .. keep an eye..

Its true that higher lvls of nifty we gonna see some profit booking so we advise traders as well as investors to book profits as soon as they get..
Major brkout in nifty will only be considered if we cross 5500-5600 mark.. and that looks a bit dicy right now..


keep an ey on Tricom India will consider a stock split today...

Reliance Communications to broaden its business canvas by foraying into the IT sector..

ONGC strikes oil in Deccan traps..


Cairn India has got the final approval from the petroleum ministry for laying a special pipeline to transport the crude oil from the field in Rajasthan to the Gujarat coast.. watch out today ..

DLF jointly with a Spanish builder has bid for US$4.7bn rail road contract in India..

RNRL expects gas from KG basin to start flowing from 2009..

Parsvnath Developers acquires 1.18 acre plot in central Delhi for Rs2bn..

Nucleus Software to spend Rs300mn for setting-up a software development centre in Jaipur...

We are tclosed abv 200 DMA and at this point of time nifty looks extremely good.. we expect nifty to touch 5330-5350 mark ahead.. with no major downside till we get some extremely bad newzz..

have a grt day .. and rocking weekend ...

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