YESTERDAY WE BOUGHT NIFTY, IBR,RANBAXY,JP
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AGAIN THIS MONTH,OUR CLIENTS HAVE EARNED IN TONNES,BEFORE BUDGET WE TOLD YOU TO SHORT
We expect the markets to bounce back to a certain, Nifty expected to play between 4540 - 4780. Break of any which side will create momentum.
On its upmove likely to face resistance at 4680 and 4710 break of this can take to 4780.
On the downside we find a immediate support at 4605 break of this can take to 4580 and then finally a good one at 4540.
At current 15,357.35, Sensex trades at a PE multiple of 14.62 to 15.35, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.
As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 108.50 crore on Thursday, 13 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 56.44 crore on that day.
FIIs were net buyers of Rs 242.82 crore in the futures & options segment on Thursday, 13 March 2008. They were net sellers of index futures to the tune of Rs 85.43 crore and bought index options worth Rs 85.82 crore. They were net buyers of stock futures to the tune of Rs 238.73 crore and bought stock options worth Rs 3.70 crore
The market may advance today on firm global cues. However high volatility cannot be ruled out. The next trigger for the market would come from the figures of advance tax payment by corporates for the fourth installment, which falls due on 15 March 2008.
Another major trigger for the market is outcome of the US Federal Reserve meeting on 18 March 2008 to review interest rates. A cut in interest rate, as expected by the street may provide some support to the markets. Fed Chairman Ben Bernanke had signaled a readiness to cut interest rates again to prevent further damage to the weak US economy, even as he took note of rising inflation risks.