Intraday calls

As said the markets tumbled yesterday upto the retracement level of 4900, hopefully this zone should sustain below which we would head to 4720 level where the LONGTIME trendline moves and the 50 DMA coincides, given the current levels most of the stocks are trading well below there 50 DMAs which shows the pain among the investors and deteriorating sentiments, a move only above the 5300 levels with good and sustained buying support can lift the sentiments which seems unlikely for now. At present levels the indices are at their 50 week DMA which calls for attention in the bull market since below these levels it should would mean the start of bearish markets with target of 4400-4000-3880 levels ,,,,,,,,,,,,,,,,,,,,,,,	9:55 AM
remain cautious and trade with adequate stoplosses, since no support and resistance seems to work,,,,,,,,,,,,,,,,, due to which i would not love to give the same for some days if buying support doesnt come in today then expect the markets to touch 4500 and 4100 soon,,,,,,,,,,,,,,,,,,, marking the end of the bull market BUY RELIND (RELIANCE INDS) CMP 2323 Target 2343 and 2356 StopLoss 2310.1 BUY SPICETELE at Cmp of 35.5 for long term , Long trem target seen at Rs 120 -175, time period 3- 5 months . Cooking oil prices start to singe, up Rs 8 per kg It was widely expected that in the budget the finance minister would bring duty on palm and soya oils to around 20% and to nil in case of sunflower oil. Since no announcements were made in this regard cooking oil prices have surged by around Rs 8 per kg in the past few days. Worse, prices may rise by another Rs 10 per kg on par with global rates, and make it worthwhile for importers to sign fresh contracts overseas. We believe that if edible oil producers in India who had held back the price hikes in anticipation of duty cut in the budget are unable to pass on the entire increase in cost of inputs (edible oils) there would be margin pressures also such steep increase in prices may impact the sales volumes. buy sesagoa for target of 3800 10:30 AM Change in Session Timings in F&O Segment and Equity segments due to Sun Outage from March 4, 2008 to March 18, 2008: Trading Session: 9.55 a.m. to 11.45 a.m. ,No trading due to Sun Outage: 11.45 a.m. to 12.30 p.m., continue: 12.30 p.m. to 4.15 p.m justine pm: PIVOT CALL : SELL HPCL FUT 287 SL 291 TGT 278 BUY IDFC CMP 181.7 Target 186 and 189 StopLoss 178.1 Buy sesagoa for target of 3850, Sup 3225....... 10:45 AM Break and close below 16470 will move the Sensex towards 15500 11:25 AM Market News: we may witness strong recovery in bank stock during 2nd half of trading.Buy banks nifty,kotak,,icici bank and sbi on dips 11:28 AM AS I SAID NIFTY VERY CLOSE TO 4900,,,,,,,,,,,,,,,, IF BREAKS NEXT SUPPORT 4720,,,,,,,,,,,,,,,,,,,,,, INDIAN MARKETS TURN OUT TO BE THE WORST PERFORMING MKTS IN THE WORLD AGAIN ,,,,,,,,,,,,,,,, DONT BE SURPRISED IF WE SEE 3880 SHORTLY 11:39 AM avoid brokerage stocks,,,,, if markets fall further,,,,, since more than half of the brokers will be bankrupt alongwith some private sectors banks,,,,,,,,,,,,,,,,,,,,,, .......... markets under free fall ,,,,,,,,,,,,,,, trgt 4720 ,,,,,,,,, all supports broken,,,,,,,,,,,,,, 12:36 PM NEW DELHI (Dow Jones)--ICICI Bank Ltd. (532174.BY) lost $264.34 million at the end of January following the subprime crisis overseas, Junior Finance Minister Pawan Kumar Bansal said Tuesday. The overseas operations of India's largest private sector bank by assets suffered the loss on account of its exposure to credit derivatives and investments, he said in a reply to questions by lawmakers in the upper house of parliament. 12:37 PM FOR THE FIRST TIME AFTER 4 YEARS NIFTY TRADING BELOW THE 100 DMA ,,,,,,,,,,,,,,,,, SLIP OF ANOTHER 100 150 POINTS WOULD MARK THE DECLINE TO BELOW 50 DMA,,,,,,,,,,,,,,,, WHICH MARKS THE START OF THE BEAR MARKET,,,,,,,,,,,,,,,,,,,,, 1:02 PM IF markets close below 4900 mark today it will be the lowest ever closing for the INDEX in the recent past ,,,,,,,,,,,,,,,,,, earlier low was 4902 on the 22nd carnage ICICI takes Rs 1060 crore hit on credit derivatives According to media reports, ICICI Bank disclosed a loss of about Rs 1060 crore from its credit derivative portfolio. As at end of Q3FY08, the bank's credit portfolio stood at about Rs 6,000 crore. Earlier, the bank had provided about Rs 150 crore in Q3FY08 and Rs 100 crore in Q2FY08. Out of its credit derivative portfolio of Rs6000 crore, previous media reports suggest that close to 70% accounts for Indian corporations while the rest 30% is to foreign companies. 1:36 PM Observation : Markets trading below 200 DMA & unable to show any strength (Avoid long positions in leverage) Buy NTPC,VIJAYABANK & SBI...... RPOWER record date 20th March 2008 Watch this space for updates as the day progresses