Mantra of Successful Trader
Our Trading Call of BOMBAY DYEING achieved it's target smoothly.
Our Trading Call of POLARIS , INDIABULLS SECURITY , flared 2 to 3% EACH
Nifty 5050 level should not be broken level to watch
Today's Pick - LLyod Electric and Engineering
We recommend a buy in Lloyd Electric & Engineering from a short-term perspective. The charts of the stock show that it has been on a medium-term uptrend from its 52-week low of Rs 89.25 (touched in late March 2008). While trending up, the stock crossed the 21- and 50-day moving averages in succession and it has been forming higher peaks and higher troughs.
We notice that there is an increase in volumes traded over the past three trading sessions. In the recent times, the daily momentum indicator has also entered the bullish zone and it is currently featuring in this zone.
Moreover, the daily moving average convergence and divergence is featuring in the positive territory, indicating bullishness. Our short-term outlook for the stock is bullish. We expect the stock’s medium-term uptrend to continue until it hits our price target of Rs 142. Investor with short-term perspective can buy the stock while keeping the stop-loss at Rs 118 level
Local market are braced for weak start tracking negative global cues. Also the impact of spiralling crude oil prices, which struck a fresh record just under $124 a barrel yesterday, 7 May 2008, on inflation will continue to weigh on investor sentiment.
Oil prices for June delivery fell 6 cents to US$123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
With results already declared from majority of the frontline corporates, the result season has almost come to an end. The near term trend is likely to be dictated by global cues.
Aggregate results of 1564 companies showed 18.30% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.60% rise in net profit on 23.40% rise in net sales in the year ended March 2008 over year ended March 2007.
Asian markets were trading lower today, 8 May 2008, as financial stocks slipped. Shanghai Composite (down 0.05% at 3,577.35), Hang Seng (down 0.23% at 25,550.72), Japan's Nikkei 225 average (down 0.88% at 13,978.94), Straits Times (down 1.35% at 3,185.36), Taiwan Weighted (down 0.55% at 8,876.97) and Seoul Composite (down 0.02% at 1,852.97) declined.
As per provisional data, foreign funds bought shares worth a net Rs 88.30 crore yesterday, 7 May 2008. Domestic funds bought shares worth a net Rs 234.83 crore on that day.
Foreign institutional investors (FIIs) were net sellers of Rs 232.94 crore in the futures & options segment yesterday 7 May 2008. They were net sellers of index futures to the tune of Rs 156.68 crore and bought index options worth Rs 48.59 crore. They were net sellers of stock futures to the tune of Rs 170.83 crore and bought stock options worth Rs 45.98 crore.