Monday, October 8, 2007

Markets Today

The markets saw a sharp cut in today's session on account of political concerns looming large. They opened in positive taking cues from Asia but saw a sharp fall.
Some off the Asian markets which opened in green were off day's high and ended weak.
Sensex was down nearly 300 points or 2%. Broader markets have taken it on their chin and are the midcap and smallcap indices were down 4%. Breadth of the market was absolutely weak, with advance decline ratio at 1:10.
Sensex closed down 281.97 points or 1.59% at 17491.39, and the Nifty down 100.75 points or 1.94% at 5085.10.
About 621 shares have advanced, 2364 shares declined, and 56
shares are unchanged.
Heavy selling was witnessed across the sectors led by realty, metals and pharma.
Top gainers on the indices are Satyam, Bhel, TCS, Wipro, VSNL and HDFC Bank.
Top losers on the indices are are Reliance Energy, Ranbaxy, Zee Entertainment, Unitech ACC and Tata Steel.
The BSE Midcap Index ended at 7,211.60 down 3.6%.
The BSE Smallcap Index ended at 8,801.00 down 3.3%.
The BSE Bankex was down 2.6% at 8,984.86. Andhra Bank, Karnataka Bank, Kotak Mahindra, SBI, ICICI Bank, Yes Bank, Bank of India moved upwards.
The BSE Capital Goods Index was down 2% at 15,445.63. Bharat Elec, Praj Industries, Jyoti Structure, BEML, Triveni Eng, Gammon India closed lower.
The BSE Auto Index closed at 5,270.71 down 2%. TVS Motor, Ashok Leyland, Maruti Udyog, Apollo Tyres, Mah and Mah, Exide Industrie, Hero Honda closed lower.
The BSE Metal Index closed at 13,589.61 down 4%. Tata Steel, SAIL, Shree Precoated, Jindal Steel, Mah Seamless, Hindalco, JindalStainless closed lower.
The BSE FMCG Index closed at 2,089.61 down 1%. United Spirits, Bata India, United Brewerie, Colgate, HUL closed lower
BSE
Oil and Gas Index closed at 9,797.65 down 3%. RNRL, Essar Oil, Petronet LNG, IOC, Reliance, Reliance Petro ended in red.
The BSE IT Index was up 0.6% at 4,770.31. Satyam, HCL Tech, Infosys, Patni Computer, Wipro, TCS closed higher
The BSE realty Index lost 3.6% at 9,283.22. Anant Raj Ind, Ansal Propertie, Unitech, Indiabulls Real, Omaxe closed lower.
The NSE cash turnover was at Rs 15985.52 crore and the NSE F&O turnover was at Rs 69842.2 crore. The BSE cash turnover was Rs 7210.25 crore. Total market wide turnover was at Rs 93037.97 crore.
Source: moneycontrol.com

Intraday Calls for 8th October

Market should open positive and may touch and cross 18 K in morning session because of strong global markets opening. But remains very volatile and if effected from political reasons than market can corrects from higher levels.

Nifty Support 5160 5100 Resistance 5260 5290
Sensex Support 17500, 17300 Resistance 18000

Buys for Intraday:

RCOM (645) Target 660+ SL 640
Bharti Airtel (993) Buy above 1000 for Target 1030 SL 990
BSEL Infra (64) Target 68-70 SL 62
Kalyani Steel (478) Target 500 SL 474
Tinplate (56) Target 60 SL 54
Advanta India (1065) Target 1090+ SL 1058
Tata Power (944) Target 965 SL 938
NIIT Ltd (131) Target 135+ SL 129
IFCI (85) Target 88-90 SL 84
Astral Poly (130) Target 138-140 SL 128

Others: Reliance Industries, Ispat Industries (32), GTC Industries (280), Prajay Eng (306), KS Oils (72.5), TTML (40.5).

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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