Wednesday, August 8, 2007

Markets Today


It was a standout performance by market on the back of some strong global cues. There was no volatility and Sensex closed above 15,300 and Nifty above 4450 levels. Breadth was heathy on strong turnover.
Technology
stocks are sparkling on expectation of weakening rupee on the new ECB norm. Asia ended firm as Fed kept its rates unchanged serving as positive cues for the markets.
All the BSE sector indices are
trading in green. Followed by the technology banking, realty and oil & gas stocks surged on the bourses.
Infosys, TCS, Wipro, HCL Tech, Polaris, Mphasis, Patni, Foursoft, Aptech were technology standout performers.
Export oriented sectors will be positively impacted on account of new ECB norm which is expected to arrest rupee appreciation. Apart from IT even phama stocks are expected to be positively impacted.
Sensex was up 375.21 points or 2.51% at 15307.98, and the Nifty up 105.75 points or 2.43% at 4462.10.
About 2108 shares have advanced, 825 shares declined, and 58 shares are unchanged.
The BSE Midcap Index ended at 6,665.67 up 91 points or 1.4%.
The BSE Smallcap Index ended at 8,051.22 up 136 points or 1.7%.
The BSE Bankex closed at 8,076.32 up 2%. Union Bank, Canara Bank, Centurion Bank, Bank of Baroda, PNB, Allahabad Bank moved upwards.
The BSE Capital Goods Index was up 1.8% at 13,032.66. Reliance Infra, Crompton Greave, Praj Industries, Gammon India, AIA Engineering, BHEL closed higher.
The BSE Health Care Index was up 1.2% at 3,671.59. Matrix Lab, Orchid Chemical, Ranbaxy Labs, Sun Pharma, Lupin closed higher.
The BSE Auto Index closed at 4,810.74 up 1.4%. Hero Honda, Cummins, Amtek Auto, TVS Motor, Exide Industrie, Escorts, Mah and Mah advanced.
The BSE Metal Index closed at 11,222.02 up 1.5%. Hindalco, SAIL, NALCO, Sesa Goa, Sterlite Ind advanced higher.
The BSE FMCG Index gained 1% at 1,953.80. Marico, Godrej Consumer, Nestle, GlaxoSmith Con, Dabur India closed higher.
BSE Oil and Gas Index closed at 8,048.75 up 3%. Essar Oil, Reliance, Petronet LNG, ONGC ended in green.
The BSE IT Index closed at 4,808.43 up 4%. HCL Tech, Mphasis, Infosys, TCS closed higher.
The NSE cash turnover was at Rs 10130.55 crore and the NSE F&O turnover was at Rs 42084.83 crore. The BSE cash turnover was Rs 4711.34 crore. Total market wide turnover was at Rs 56926.72 crore.
Source: Moneycontrol.com

Intraday Calls for 8th August

Nifty: Support 4300 & Resistance 4400, 4440.
Sensex: Support 14900 & Resistance 15000, 15200.

Markets looks good for today. A fine day expected. Positive opening with nice gain also.

Buy Mphasis @ Rs. 283/- Target Rs. 290-295/- SL Rs. 282/-
Buy HCL Tech @ Rs. 298/- Target Rs. 305/- SL Rs. 294/-
Buy Mastek @ Rs. 252/- Target Rs. 260-265/- SL Rs. 248/-
Buy HDIL @ Rs. 525/- Target Rs. 536-540/- SL Rs. 520/-
Buy Bindal Agro (Oswal Chemical) @ Rs. 34/- Target Rs. 36+ SL Rs. 32/- (Short Term Target 40+) Buy Premier Explosive @ Rs. 50/- Target Rs. 55/- SL Rs. 48/-
Buy Ceat @ Rs. 166/- Target Rs. 172-175/- SL Rs. 162/-
Buy Timex Watches @ Rs. 30/- Target Rs. 35/- (Short Term) SL Rs. 28/-

Others: Sterlite Industries, IDBI, HPCL, JetAirways, ADSL, NitinFire, ITC, MTNL.

Banking Stocks: Sell.

Good Luck.

Market News

Wipro enters into agreement
ETC Network's board approves scheme of amalgamation
Venus Remedies completes the phase IV of baddi project

Flawless Diamond India opens one more exclusive retail outlet
PSL secures prestigious contract from Indian Oil Corporation
Tata Steel's alternative reference securities offering raises to US $ 875 million
Rajendra Mechanical Industries net profit rises 295.00%
Perfectpac net profit rises 108.33%
Ador Multi Products net profit rises 350.00%
Glance Finance net profit rises 100.00%
Axon Infotech net profit rises 857.14%
Cupid Trades & Finance net profit rises 100.00%
Permanent Magnets net profit rises 150.00%
JMD Telefilms Industries net profit rises 60.00%

United Breweries (Holdings) net profit rises 2627.78% in the June 2007 quarter

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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