Monday, August 6, 2007

Markets Today

The markets ended in deep red with hefty losses on selling seen in scrips across sectors tracking global peers. Realty, banking, capital goods and metal stocks were the worst hit. Realty index was down over 4% followed by banking, capital goods and metal indices down over 2%.
ICICI Bank, Hindalco, Maruti Udyog, Wipro, Larsen, Reliance Comm were among the top losers on the indices.
SBI, TCS, Dr Reddy's, Ranbaxy Labs, Dabur India, BPCL, HPCL are among the gainers on the indices.
Sensex was down 235.37 points or 1.55% at 14903.03, and the Nifty down 62.05 points or 1.41% at 4339.50.
About 1240 shares have advanced, 1668 shares declined, and 81 shares are unchanged.
The BSE Midcap Index ended at 6,552.93 down 0.8%.
The BSE Smallcap Index ended at 7,842.59 down 0.6%.
The BSE Bankex was down 1% at 8,055.14. ICICI Bank, IOB, Centurion Bank, HDFC Bank, Federal Bank moved downwards.
The BSE Capital Goods Index was down 2% at 12,739.99. Suzlon Energy, Triveni Engg, Larsen, Bharat Bijlee, Siemens, BHEL closed lower.
The BSE Health Care Index was down 1% at 1,964.27. Orchid Chemical, Opto Circuits, Nicholas Pirama, Divis Labs, Wockhardt, Sterling Bio closed lower.
The BSE Auto Index closed at 4,746.12 down 1%. MRF, Maruti Udyog, Cummins, Escorts closed lower.
The BSE Metal Index closed at 11,139.43 down 1.6%. Shree Precoated, JSW Steel, Hindalco, Jindal Steel, Jindal Saw closed lower.
The BSE FMCG Index closed at 1,945.26 up 0.4%. GlaxoSmith Con, HUL, Bata India, Tata Tea, Britannia closed lower.
BSE Oil and Gas Index closed at 7,719.26 down 1%. Essar Oil, GAIL, ONGC, Reliance, Reliance Petro ended in red.
The BSE IT Index lost 2% at 4,597.82. Mphasis, Patni Computer, Financial Tech, Infosys, Tech Mahindra, Wipro closed lower.
The NSE cash turnover was at Rs 8990.81 crore and the NSE F&O turnover was at Rs 37564.99 crore. The BSE cash turnover was Rs 4313.22 crore. Total market wide turnover was at Rs 50869.02 crore.
Source: Moneycontrol.com

Intraday Calls for 6th August

Nifty support 4300 and Resistance 4440, 4500.
Sensex Support 14900 and Resistance 15200.

Markets opens weak as global markets are in dip red. But I think market can bounce from the support of 14900. If break and trade below that then we can see 14600, 14400 levels in coming days. Be carefull from the high volatility of the market today.

Buy Voltas, Wipro, HPCL, Micro Technologies, MTNL, JP Associates, Prithvi Info, Gitanjali Gems, Nelcast, ROMAN at decline.

Sell Bharti, M&M, Lanco Infra, Indiabulls, Parsvnath, RCOM.

Good Luck.

Disclaimer

The information in this publication is provided by http://www.moneybazzar.blogspot.com/ is intended for use for Readers & Traders . Every effort is made to provide accurate information, but http://www.moneybazzar.blogspot.com/ cannot guarantee the accuracy of the information or of the market analysis. This is a newsletter and is for informational purposes only. It is not a solicitation or offer to buy or sell futures. There is a high risk of loss in trading futures. You should not trade with money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this newsletter. The past performance of any trading system or methodology is not necessarily indicative of future results.



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