Essar oil ONGC BPCL GMR REL ENGY shall be good for Intraday traders,go positive in these counter.
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Market still looks positive to me as long as market stays above 5120
Break of 5120 can drag the market down to 5035 and break of this to 4940
And especially 4940 is not expected to broken.
On the upside market faces immediate resistance at 5180 and a good resistance at 5235
Break of 5235 successfully and trade above this can take us to 5270 and then finally a good resistance zone between 5330 - 5350 followed by another good resistance zone at 5410 - 5420.
Always remember the zone between 5330 - 5350 and 5410 - 5420 have proved to be hard for the nifty to break and the reversal had many times near these levels
Pick No 1 - K S Oils - Our clients are holding this call, you can also look to buy around 85. Good for intraday and delivery. Stop loss and target only for clients. Clients will get proper target and proper stop loss of it. Remember don't execute any calls at hurry, wait for market to settle and don't buy in negative trend
Pick No 2 - Essar Oil - Again showing some positive sign, look to buy around the level of 240 and keep stop loss 233. Clients will get proper target and proper stop loss of it. Remember don't execute any calls at hurry, wait for market to settle and don't buy in negative trend
Indian Markets appear more concerned about US Economy, than the Wall Street. Any negative news across the globe is taken as advantage by the market players to short the market heavily. This implies we have a show on the cards with shorts still in play and any major upswings will push the Sensex wildly further. But technicals will support the rally only above 19.240, till then it is a cat and mice play.
Rupee is getting weaker and this augurs well for Technology stocks and other export oriented stocks like Textiles and Auto ancillaries. Yesterday's weak trade shows the promise in these sectors. Midcap IT showed strength on Tuesday and were silent yesterday. Today we expect them to fire again. PE funds are looking actively looking in the logistics space (Blackstone buys 10 percent stake in Allcargo). We like another stock here(Leader in Logistics).
Markets are likely to trade up with minor bouts of volatility and with strength appears tilting towards Bulls
Stock in news - ABB, Tata Motors, Reliance Capital, Accential Tech, Omnitech, Wockhardt and many more are the stocks in news today.
ABB is in talks for Rs2,000 crore orders from power companies
SBI and Canara bank reduced the benchmark prime lending rates (PLRs) by 25 basis points, second time in less than one week.
Wockhardt posted a 23 per cent jump in net profit to Rs 106.9 crore in the fourth quarter ended December 31, 2007, courtesy acquisitions and European business
Reliance Energy today outbid Reliance Industries consortium to win the prestigious Rs 6,000-crore trans-harbour link project in Mumbai.
ADAG led Reliance Capital (RCL) on Tuesday got the Reserve Bank of India’s nod to venture into the asset reconstruction business.
Orchid gets nod from USFDA for Cefuroxime Axetil tablets
Mumbai based Omnitech InfoSolutions, today said it planned to raise $35 million from overseas markets to fuel its domestic expansion.
The much hyped Tata Motors' Nano car is likely to roll out production in October 2008