|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 IDFC CMP 181.7 Target 186 and 189 StopLoss 178.1
Buy sesagoa for target of 3850, Sup 3225.......
Buy NTPC,VIJAYABANK & SBI......
RPOWER record date 20th March 2008
Watch this space for updates as the day progresses
Tuesday, March 4, 2008
Posted by Morgan at 9:56 AM