Thursday, August 9, 2007

Markets Today

It was a weak day for the markets accompanied by volatility and unceratinity on account of subprime mortgage worries. The markets opened with a gap up of 200 points but slipped in red on weak global cues, swinging by nearly 500 points.
The fall was inline with the Europe meltdown on news that BNP Paribas has freezed 3 asset backed funds on US subprime losses. BNP Paribas SA, France's biggest bank, halted withdrawals from three investment funds because it can't ``fairly'' value their holdings, as concern over U.S. subprime mortgage losses roils
credit markets.
Selling was seen in scrips across sectors. Leading the downtrend were IT, oil gas and FMCG
stocks. The broader markets also sild and ended lower.
Sensex was down 207.83 points or 1.36% at 15100.15, and the Nifty down 58.90 points or 1.32% at 4403.20.
About 1181 shares have advanced, 1749 shares declined, and 62 shares are unchanged.
The BSE Midcap Index ended at 6,559.58 down 1.6%.
The BSE Smallcap Index ended at 7,964.12 down 1%.
The BSE Bankex was down 1.3% at 7,975.48. Bank of Baroda, Union Bank, Allahabad Bank, Federal Bank, SBI moved downwards.
The BSE Capital Goods Index was down 1% at 12,883.72. Crompton Greave, AIA Engineering, Alstom Projects, Gammon India, Punj Lloyd, Jyoti Structure, Reliance Infra, Praj Industries closed lower.
The BSE Health Care Index was down 0.6% at 3,651.28. Apollo Hospital, Cadila Health, Ranbaxy Labs, Glenmark, Aurobindo Pharm closed lower.
The BSE Auto Index closed at 4,769.15 down 1%. Exide Industrie, MICO, Amtek Auto, Tube Investment, Cummins closed higher.
The BSE Metal Index closed at 11,118.87 down 1%. Shree Precoated, Hindalco, Jindal Steel, JSW Steel, Mah Seamless, Jindal Saw closed lower.
The BSE FMCG Index closed at 1,920.03 down 2%. Marico, United Spirits, GlaxoSmith Con, United Brewerie, Colgate closed lower.
BSE Oil and Gas Index closed at 7,891.15 down 2%. Reliance Natura, Essar Oil, GAIL, ONGC ended in red.
The BSE IT Index lost 1.6% at 4,733.85.Mphasis, Financial Tech, I-Flex Solution, Satyam, Infosys closed lower.
The NSE cash turnover was at Rs 11846.62 crore and the NSE F&O turnover was at Rs 55930.24 crore. The BSE cash turnover was Rs 5478.43 crore. Total market wide turnover was at Rs 73255.29 crore.
Source: Moneycontrol.com

Intraday Calls for 9th August

Nifty Support 4380, 4300 and Resistance 4510, 4540.
Sensex Support 15050, 14950 and Resistance 15500.

Market opens positive with at gap. But later can see profit booking and may come down for flat closing.

Buy HOPFL @ Rs. 292/- Target Rs. 305-310/- SL Rs. 288/-
Buy BRFL @ Rs. 217/- Target Rs. 222-225/- SL Rs. 214/-
Buy Nelcast @ Rs. 160/- Target Rs. 165+ SL Rs. 157/-
Buy Gemini Communication @ Rs. 200/- Target Rs. 210/- SL Rs. 196/-
Buy NDTV @ RS. 373/- Target Rs. 380-385/- SL Rs. 368/-
Buy PNB @ Rs. 521/- Target Rs. 530-535/- SL Rs, 516/-

Others: Hinduja TMT, ACC, BILT, Mukta Arts, Grasim, Kesoram, Reliance, FSL, Mindtree, Atlanta, Visu International.

Short Sell: Orbit Corp, Everonn, Aurbindo Pharma.

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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