Friday, October 5, 2007

Markets Today

The markets ended the week on a flat note with a negative bias after seeing a strong rally during the week. Sensex couldn't touch the 18k mark and is at a shouting distance of 18,000 mark. But on weekly basis Sensex saw good gains of over 2.5%.
Most of the BSE sector indices closed lower, even the broader markets were lacklustre.
Select heavies were like L&T, BHEL, Reliance and Bharti Airtel were supporting the markets at the lower levels. Buying was seen in select capital goods, telecom and oil & gas
stocks.Selling pressure is seen in interest rate senstives like auto, bank and realty stocks. Even FMCG and IT stocks are trading at lower levels.
Reliance hit Rs 2,500 mark and Bharti Airtel hit Rs 1000 mark.
On the macroeconomic front, inflation came in higher at 3.42% versus 3.23%.
Power Grid got listed at Rs 85 versus issue price of Rs 52/share, debuting with market cap of Rs 39,000 crore and closed at around Rs 100 levels.
Sensex was down 3.78 points or 0.02% at 17773.36, and the Nifty down 22.80 points or 0.44% at 5185.85.
About 1071 shares have advanced, 1900 shares declined, and 69 shares are unchanged.
Top gainers on the Sensex were Larsen & BHEL up 6%, ABB up over 3.5%, Bharti up 4% and Reliance Comm up 2%.
Top losers on the Sensex were NTPC, Tata Motors, ITC, Hindalco, Wipro and TCS.
The BSE Midcap Index ended at 7,485.51 down 1.2%.
The BSE Smallcap Index ended at 9,101.87 down 0.44%.
The BSE Bankex was down 2.5% at 9,177.32. Union Bank, IOB, Kotak Mahindra, Allahabad Bank, Bank of Baroda moved downwards.
The BSE Capital Goods Index was up 3% at 15,725.25. L&T, Reliance Infra, Kirloskar Bros, Greaves Cotton, Jyoti Structure closed higher
The BSE Auto Index closed at 5,356.83 down 1%. Ashok Leyland, Hind Motors, Bharat Forge, Tata Motors, TVS Motor closed higher.
The BSE Metal Index closed at 14,122.36 down 2%. JSW Steel, Hindalco, Tata Steel, JindalStainless closed lower.
The BSE FMCG Index closed at 2,107.02 down 2%. Marico, Bata India, ITC, United Spirits, United Brewerie closed lower
BSE
Oil and Gas Index closed up 1% at 10,109.80. Reliance, IOC, BPCL, HPCL ended in red.
The BSE IT Index was down 0.6% at 4,740.27. Satyam, HCL Tech, Infosys, Patni Computer, Wipro, TCS, Financial Tech closed higher.
The NSE cash turnover was at Rs 20212.79 crore and the NSE F&O turnover was at Rs 64188.48 crore. The BSE cash turnover was Rs 7756.15 crore. Total market wide turnover was at Rs 92157.42 crore.
Source:moneycontrol.com

Intraday Calls for 5th October

Market should open positive and may touch 18K in today's trade.

Nifty Support 5160 Resistance 5260, 5290
Sensex Support 17500, 17300 Resistance 18000

Buys for Intraday:

Power Grid (New Listing) It can list at 80-85 and Can go for 100-120
3I Infotech (152) Target 155-158 SL 150
TV Today (152) Target 158-160 SL 150
Alstom Projects (872) Target 895-900 SL 865
UNITECH (338) Target 355-360 SL 334
RCOM (638) Target 648-660 SL 632
GIPCL (95) Target 100+ SL 92
NTPC (227) Target 235 SL 225
HDIL (707) Target 725-735 SL 700
AMD Metaplast (49) Target 52-55 SL 47

Others: Reliance Ind, REL, RPL, KPIT, Hexaware, India Infoline, Paramount Com, Cipla.

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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