Friday, September 7, 2007

Markets Today

The markets ended the day with marginal losses on sccount of selling pressure seen in index pivotals. Also cues from global peers in Asia and the US markets were not very encouraging. Underperformance came from auto, metal and realty stocks followed by pharma, bank and oil & gas stocks.
Sensex was down 25.89 points or 0.17% at 15590.42, and the Nifty down 9.10 points or 0.20% at 4509.50.
About 1508 shares have advanced, 1420 shares declined, and 91
shares are unchanged.
The BSE Midcap Index ended at 6,851.65 up 0.03%.
The BSE Smallcap Index ended at 8,433.52 up 0.5%.
The BSE Bankex was down 0.2% at 8,095.69. Bank of Baroda, Kotak Mahindra, Bank of India, Axis Bank, SBI moved downwards.
The BSE Capital Goods Index was down 0.3% at 13,613.24. Triveni Engg, Alstom Projects, Suzlon Energy, Jyoti Structure, Lakshmi Machine, AIA Engineering closed lower.
The BSE Health Care Index was down 0.3% at 3,705.68. Nicholas Pirama, Cipla, Biocon, Aurobindo Pharm, Orchid Chemical closed lower.
The BSE Auto Index closed at 4,889.83 down 1%. Exide Industrie, Ashok Leyland, Mah and Mah, Tata Motors, TVS Motor closed higher.
The BSE Metal Index closed at 11,609.08 down 0.7%. JindalStainless, SAIL, Sterlite Ind, Sesa Goa closed lower.
The BSE FMCG Index closed at 2,046.63 up 0.7%. Marico, ITC, United Spirits, United Brewerie, Tata Tea closed lower.
BSE Oil and Gas Index closed at 8,185.77 down 0.6%. Reliance, Essar Oil, GAIL, HPCL, Reliance Petro ended in red.
The BSE IT Index slipped 0.1% at 4,659.70. Patni Computer, Mphasis, I-Flex Solution, HCL Tech closed lower.
The BSE realty Index lost 1% at 7,470.27. Unitech, Ansal Propertie, Mahindra Gesco, DLF closed lower.
The NSE cash turnover was at Rs 9966.22 crore and the NSE F&O turnover was at Rs 38666.44 crore. The BSE cash turnover was Rs 4869.79 crore. Total market wide turnover was at Rs 53502.45 crore.
Source:moneycontrol.com

Intraday Calls for 7th Sept.

Market is likely to open positive but may see some profit booking in second half. A flat closing expected.

Sensex Support 15440 Resistance 15700, 15868 (All Time High)
Nifty Support 4440 Resistance 4530, 4550

Buy for Intraday:

Escorts (104) Target 108-110 SL 101
Orbit Corp (502) Target 512+ SL 498
IDFC (132) Target 135+ SL 130
Tech Mahindra (1325) Target 1345-1355 SL 1315
REL (861) Target 880-885 SL 855
Mcleod Russel (60) Target 65+ SL 58
ALPS Industries (57.5) Target 60-62 SL 55 (Rec. on 10th Aug as delivery @ Rs. 44)
Tata Steel (693) Target 705 SL 688
Hind Oil Explo (106) Target 110 SL 104
Gujarat Industries Power (GIPCL) (76) Target 80+ SL 74

Other: Hotel Leela, BOB, Syndicate Bank.

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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