Friday, September 28, 2007

Markets Today

The bulls are in complete charge of the markets taking it to yet another life time high. It was not only a strong day for the markets but a good end to a phenomenal week. The week saw Sensex crosssing the milestone of 17,000 and the Nifty breached the 5,000 mark. Today the Sensex breached 17,300 mark and the Nifty was trading well above 5,000 mark.
The uptrend was powered by metal stocks followed by the banking majors, FMCG and pharma stocks. However trading weak were select oil & gas and IT pivotals followed by select auto stocks. The broader markets were trading inline with the frontline indices with moderate gains.
Sensex was up 140.54 points or 0.82% at 17291.10, and the Nifty up 20.80 points or 0.42% at 5021.35.
About 1502 shares have advanced, 1457 shares declined, and 74 shares are unchanged.
The BSE
Small Cap Index closed at 9,099.93 up 0.6%.
The BSE Midcap Index ended at 7,422.43 up 1.2%.
The BSE FMCG Index closed at 2,161.35 up 2%. Nestle, GlaxoSmith Con, United Spirits, ITC, Dabur India closed in green.
The BSE Metal Index closed at 13,945.39 up 3.3%. Sesa Goa, Tata Steel, Hindalco, JindalStainless were among the gainers.
The BSE Health Care Index was up 1.7% at 3,784.21. Novartis India, Sterling Bio, Biocon, Cipla, Ranbaxy Labs closed higher.
The BSE Capital Goods Index was flat at 14,679.84. Kirloskar Oil, Alstom Projects, Reliance Infra, Kirloskar Bros, Kalpataru Power ended higher.
The BSE Auto Index closed at 5,332.26 up 1.1%. Ashok Leyland, Punj Tractors, Tata Motors, Maruti Udyog, Escorts were among the gainers
The BSE IT Index closed at 4,627.83 down 0.3%. HCL Tech, Tech Mahindra, Infosys, Mphasis ended lower.
The BSE Bankex was up 2.6% at 9,469.26. Bank of India, Yes Bank, Allahabad Bank,
Union Bank, Centurion Bank closed higher.
The BSE Oil and Gas Index closed at 9,561.95 down 0.8%. Essar Oil, HPCL, ONGC, BPCL closed in red.
The NSE cash turnover was at Rs 17567.47 crore and the NSE F&O turnover was at Rs 56998.5 crore. The BSE cash turnover was Rs 7921.43 crore. Total market wide turnover was at Rs 82487.40 crore.
Source:moneycontrol.com

Intraday Calls for 28th September

Last trading day of the month. Market can open flat to positive and may remain flat. Some profit booking can be seen at higher levels in overbought stocks.

Nifty support 4965, 4880 Resistance 5020, 5050
Sensex Support 17000, 16890 Resistance 17200, 17290

Buys for Intraday:

NIIT Tech (334) Target 342-345 SL 330
Orchid Chemical (230) Target 235-238 SL 227
RPL (150) Target 155 SL 148
Cipla (176) Target 180-182 SL 174
EKC (223) Target 228-230 SL 220
Bhushan Steel (915) Target 930-940 SL 910
Visu International (16.50) Target 17.50-18 SL 16
Paramount Communication (33.60) Target 36-38 SL 32
Pantaloon Retail (526) Target 540 SL 522
REL (1116) Target 1130 SL 1110

Others: GMR Infra, Rasoya Proten, NIIT Ltd., Maxwell Ind, Videocon Ind.

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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