Monday, September 17, 2007

Markets Today

It was a weak close for the markets on account of some negative cues from Europe. Europe after opening in red sliped further, FTSE was down 2% following the suit are CAC and DAX. Some of Asian markets came under pressure, Taiwan was down 1%, Kospi ended flat and Hang Seng was down over 1%. All eyes are set on tomorrow's Fed meet where analyst are expecting a rate cut of 25 bps.
Technology and telecom stood out as the biggest losers with Reliance Communication, Satyam, TCS, Bharti Airtel and Infosys being among the top losers.
Consumer durables have stood out in todays trade and were among the top gainers followed by select auto, power, FMCG and metal stocks.
Advance tax numbers are out ICICI Banks number stood at Rs 450 crore, flat YoY basis and Ambuja Cement at Rs 200 crore versus Rs 120 crore (YoY).
Sensex was down 99.37 points or 0.64% at 15504.43, and the Nifty down 23.35 points or 0.52% at 4494.65.
About 1509 shares have advanced, 1443 shares declined, and 76 shares are unchanged.
The BSE Midcap Index ended at 6,915.37 up 18 points or 0.30%.
The BSE Smallcap Index ended at 8,640.23 up 68 points or 0.8%.
The BSE Capital Goods Index was closed flat at 13,704.85. Reliance Infra, Triveni Engg, Kirloskar Oil, Bharat Bijlee closed higher.
The BSE Auto Index closed closed at 4,897.17 up 0.2%. Bajaj Auto, Cummins, Tube Investment, Hind Motors, Maruti Udyog ended in the green.
The BSE Metal Index closed at 12,011.58 up 0.3%. Sesa Goa, Shree Precoated, Hind Zinc, NALCO, Sterlite Ind advanced.
The BSE FMCG Index gained 0.9% at 2,090.79. United Brewerie, United Spirits, GlaxoSmith Con, Tata Tea ended in red.
BSE Oil and Gas Index closed at 8,372.09 down 0.2%.
The BSE IT Index closed at 4,387.26 down 1.4%. TCS down 2.5%, closes below Rs 1000; Satyam down 1.8%, Infosys down 1.76%.
The BSE Bankex was down 0.6% at 8,090.77. ICICI Bank down 1.23%, HDFC Bank down 0.53%.
The NSE cash turnover was at Rs 9373.78 crore and the NSE F&O turnover was at Rs 35768.53 crore. The BSE cash turnover was Rs 4673.34 crore. Total market wide turnover was at Rs 49815.65 crore.
Source:moneycontrol.com

Intraday Calls for 17th September

Market may open flat and remain in range. Not much downside and not much upside expected.

Sensex Support 15550, 15400 Resistance 15750
Nifty Support 4500, 4470 Resistance 4530, 4550

Buy for Intraday:

Aptech (375) Target 382-385 SL 372
Orchid Chemical (218) Target 225 SL 215
GVK Power (570) Target 580+ SL 565
Kalyani Steel (385) Target 395-400 SL 380
Radico Khaitan (194) Target 204-208 SL 190
Dollex (118) Target 125 SL 116
Prithvi Info (300) Target 308-310 SL 296
Bayer Crop (344) Target 355 SL 340
IVRCL (375) Target 382-385 SL 370 (Ultimate Short Term Target 450+)

Others: Ispat Industries (20)(Buy for long term gain), FDC Ltd. (32.40), Cairn Energy (161), Arvind Mills (52), ITC (180).

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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