Tuesday, October 9, 2007

Biggest day in Indian markets: Sensex above 18K

The markets made some historic moves today breaking the old records and made some new ones. It was truly the biggest day for Indian capital markets. The benchmark indices have outperformed the broader markets. After a dull start victory came in with Sensex hitting the 18,000 mark today. This came in as a surprise after the news that UPA, Left to meet again on US Nuke Deal on October 22.

It was absolute heady for the bulls making biggest intra day gains. Despite all the political turbulence which markets seem to be ignoring it and making new records by not just touching new highs but has registered some record gains on record high turnover.

Sensex logged biggest intra day absolute gains ever. Sensex was up nearly 800 points and Nifty surged over 250 points. Sensex saw gains of 1000 points from the day's low with the backdrop of political unceratinty.

Sensex not only hit the 18,000 mark but was well above that mark as the rally got stronger after yesterday's fall. The cushion was of 300 points and the Sensex pushed towards 18,300. Nifty has shown a surge of 350 points from the day's low moving towards 5350 mark. 20-25 points premium is seen in Nifty futures. All the BSE sector indices ended in green up over 2%.

18,000 JOURNEY
SENSEX TAKES 8 DAYS TO MOVE FROM 17,000 TO 18,000
CONTRIBUTION - RIL 185 PTS, INFOSYS 152 PTS, L&T 103 PTS
CONTRIBUTION - REL 104 PTS, TATA STEEL 42 PTS, REL COMM 93 PTS
CONTRIBUTION - BHARTI 69 PTS, BHEL 59 PTS, NTPC 39 PTS, SATYAM 33 PTS
TOP 5 STOCKS HAVE CONTRIBUTED TO 60% OF RALLY FROM 17,000 TO 18,000
FIIs HAVE INVESTED $3.54 BN IN CASH MARKET
Source: moneycontrol.com

Intraday Calls for 09th October

Market can open with downside and remain very volatile but any positive news in political front, A strong rally expected. I think that market may bouce back from intraday lower levels, But uncertainity will be there so keep wait & watch policy.
Sensex Support 17300, 17050 Resistance 17777
Nifty Support 5040, 5020 Resistance 5240
Buys for Intraday at lower levels:
RCOM (641)
VOLTAS (161)
Patni Computers (478)
Vakrangee Software (184)
I Gate Global (264)
RPL (150)
GMR Infra (159) Buy at every decline for short term target of 200+
HCC (163)
Sujana Tower (160)
Prithvi Info (248)
IDBI (133)
KS Oils (75)
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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