Thursday, November 8, 2007

Markets Today

It was yet another disappointing day for the markets wherein the markets opened on extremely weak notes taking cues from the global markets. The credit concerns in the US market once again struck the global markets. It traded under pressure through the day amid volaitility.
All the key BSE indices were in red led by the banking, metal and realty indices. IT stocks continued to crumble today also and Infosys, Polaris hit the
52 week low in todays trade. The volume was realatively lower today and the market breadth remained negative through the day.
Sensex closed down 230.90 points or 1.20% at 19058.93, and the Nifty closed down 83.60 points or 1.45% at 5698.75. On BSE about 1236
shares have advanced, 1734 shares declined, and 94 shares are unchanged.
BSE Auto index closed at 5,229.11 down 66.28 or 1.25%. Amtek Auto, Bharat Forge and Escorts were top losers.
BSE bankex ended at 10,353.19 down 267.03 or 2.51%. SBI, HDFC Bank and ICICI bank were the top losers.
BSE capital goods index closed at 19,646.57 down 91.79 or 0.47%. Kirloskar Oil, Reliance Infra and Gammon India were the top losers.
BSE FMCG index closed at 2,010.85 up 0.63 points or 0.03%. Nestle, Colgate, HUL and Dabur India were the top gainers.
BSE IT index closed at 4,298.86 down 44.56 or 1.03%. I-Flex Solution, Mphasis and Financial Tech were top losers.
BSE metal index ended at 17,049.52 down 318.20 or 1.83%. Jindal Stee, Sterlite Inds and Hind Zinc were the top losers.
BSE oil & gas index closed at 11,593.75 down 94.43 or 0.81%. ONGC, Petronet LNG and Reliance were the top losers. BSE realty index closed at 10,077.92 down 213.17 or 2.07%. Unitech, Peninsular Land and Omaxe were top losers.
Turnover:
NSE
cash: Rs 16839.79 cr
NSE F&O: Rs 54391.37 cr
BSE cash: Rs 6737.56 cr
Total: Rs 77968.72 cr
Market Snapshot:
Renewed jitters of subprime crisis lead markets to trade weak
Indian markets outperform its Asian peers
Sensex down 231 pts at 19058; manages to close over 19000
Nifty ends down 83.6 pts at 5698
CNX Midcap Index down 1.13%, BSE Small-cap Index down 1.23%
All BSE indices end in the red
BSE Metals Index down 1.7%; Sterlite Industries down 4.7%, SAIL down 2.8%; Nalco up over 15%, Hindalco up over 9%
BSE Bank Index down over 2.6%; HDFC Bank down 3.9%, PNB & ICICI Bank down over 2.5%
BSE Realty index down over 1.7%; Unitech down 4.2%, DLF down about 2%
Infosys hits 52 wk low on NSE; down 1.8%
Other IT stocks that hit a 52 wk low: I-flex, Patni, 3i Infotech, MindTree, Polaris, Subex Azure, North Gate
Some media stocks buzz; Broadcast Initiatives up 14%, Shringar Cinemas up 9%, Adlabs up 5.3%
NSE Advance Decline ratio continues at 1:2
Total market turnover at Rs 77968 cr Vs 87,780 cr yesterday
Non-index gainers: WWIL up 11%, Rel Cap up 9.6%, Everonn Systems up 8%, Essar Oil up 9.4%
Non-index losers: Nocil, NFL & FACT continue to fall; all down over 8%, Jindal Steel down 10%;
Source:moneycontrol.com

Intraday Calls for 8th November

Market may open gap down and can see more correction but later a sharp recovery expected. Market will bounce back if 19000 on sensex and 5740 on nifty holds at closing.

Buy for intraday (At lower levels)

Triveni Eng. (134)
Bajaj Hindustan (213)
Ramsarup Industries (230)
Jindal Saw (790)
Dil Ltd. (311)

WWIL (40)
Kar Mobile (285)
GTC Industries (369)
GAIL (457)
Selan Exploration (163)
Gulf Oil (273)

Buy for Delivery for short term gain:

KPIT (103) Target 135+ SL below 100
Vivimed Labs (111) Target 150+ SL 102
Ansal Buildwell (80) Target 95-110 SL 75
Atlanta (233) Target 275+ SL 210

*Do not forget Maximaa Systems (3.15)*

Trade in very small quantity as market seems very volatile.

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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