Tuesday, November 6, 2007

Markets Today

It was extremely volatile day of trade wherein the markets opened on firm note and proceeded to trade strong in the early trade. But it could not maintain the momentum and succumbed to profit booking seen across the sectors led by capital goods, banking and metal stocks. All the key BSE indices ended in red except realty index which could manage to keep its head above water.
Sensex ended down 190.11 points or 0.97% at 19400.67, and the Nifty closed down 60.80 points or 1.04% at 5786.50. On BSE about 1283 shares have advanced, 1694 shares declined, and 85
shares are unchanged. On NSE, the advance decline ratio was at 443:736. BSE Midcap ended down 60.51points or 0.75% at 7,986.58 and BSE smallcap was down 43.99 or 0.45% at 9,803.03.
BSE auto index ended at 5,277.24 down 51.45 points or 0.97%. MRF, Exide Inds, Amtek India and Escorts were the top losers.
BSE Bankex closed at 10,702.32 down 221.44 or 2.01%. Bank of Baroda, Centurion Bank, Bank of India and Axis Bank were the top losers. BSE Consumer Durables index was down at 5,169.76 down 19.22 or 0.37%. Gitanjali Gems, Titan Inds, Videocon, Rajesh Exports were among top losers.
BSE Capital Goods index ended at 19,697.29 down 354.99 or 1.77%. Punj Llyod, Reliance Infra, Siemens were the top losers.
BSE FMCG ended at 2,026.45 down 0.21 or 0.01%. Nestle, Marico, United Spirits, Tata Tea were top losers.
BSE pharma index closed at 3,878.73 down 0.38%. Matrix, Aventis, Divis Lab were top losers in this space.
BSE IT index ended at 4,540.69 down 26.44 or 0.58%. Tech Mahindra, I-Flex, Satyam, Patni were the top losers.
BSE metal index closed at 17,206.06 down 195.63 or 1.12%. Jindal Steel, Sesa Goa, Shree Precoated were the top losers.
BSE oil & gas index ended at 11,389.21 down 116.33 or 1.01%. Rel Petro, Reliance Natural and Petronet LNG were the top losers in this space.
BSE realty index closed at 10,401.08 up 52.75 or 0.51%. Mahindra Gesco, Indiabulls Realestate and DLF were the top gainers in the realty counter.

Market Snapshot
Market witnesses a choppy session; profit booking in late trade
Sensex down 190 pts at 19400; off over 500 pts from days high
Nifty down 61 pts at 5786; off 171 pts from days high
All BSE Sectoral Indices end in the red barring Realty Index which showed marginal gain
CNX Midcap Index down 0.6%, BSE Small-cap Index down 0.45%
Most buzzing stocks in FNO like RNRL, RPL, JP hydro sees profit booking;
Telecom stocks continue to slide; R Comm down 4.1%, MTNL down 2.7%, Bharti down 2.6%
Metal & oil & gas stocks continue to see selective action
GAIL up 7.2%, Hindalco up 4.4%, Nalco up 3.2%
Fertilizer stocks; Nocil up 10%, FACT up 10%, NFL up 10%, GSFC up 5.8%, Nagarjuna Fertilizer up 2.4%
NSE Advance Decline ratio at 2:3
Total market turnover at Rs 1.16 lakh cr Vs 1.09 lakh yesterday Turnover:
NSE cash - Rs 23737.41 cr
NSE F&O - Rs 82952.01 cr
BSE cash - Rs 9864.71 cr
Total - Rs 116554.13 cr

Intraday Calls for 6th November

Market is likely to open negative but after that recovery expected, Remains very volatile.
Small cap & Midcap stocks can do well now.
Buy for intraday: (Buy at lower levels as market may open negative)
Torrent Power (195) Target 210-215
Taneja Aerospace (139) Target 150
Repro India (120) Target 130
Neyveli Lignite (147) Target 150-152
PTC (158) Target 165-170
RCOM (780) Target 810-825 (Short Term Target 950+)
Electrocast Steel (67) Target 70-72
DCB (112) Target 120-122
Graphite India (66) Target 70-74
BioCon (563) Target 575-590
Petronet LNG (94) Target 100 (Short Term Target 125)
Mercator Lines (123) Target 130
Others: Bharat Forge (364), Gulf Oil (303), Sunil Hitech (300), OM Metal (72), Selan Exploration (164)
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.



free counter