Closing Outlook ( 04/02/2008 ) & Opening Outlook (05/02/2008 )

By Abhishek on 11:29 PM

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It was a very good day for the global markets. Sensex opened 253.45 points higher at 18,496.03 points and surged to hit a high of 18,895.34 in afternoon trade. At day's high, it gained 652.76 points and slipped to the day's low of 18,447.25 points in mid-afternoon trade. Finally Sensex closed at 18660 up 417 points or 2.37% UP and NIFTY closed at 5463.50 up 146 points or 2.34%.

The BSE Smallcaps Index was up 3% and CNX Midcaps Index was up 3.5%. The market breadth was strong with advances at 1053, against declines of 172 on the NSE. Top Nifty gainers included Reliance Communications, BPCL, PNB and ABB while losers included HDFC Bank, Sun Pharma, Maruti Suzuki and BHEL.

Stocks from Small Cap like Bellary Steel , DCW , Dolat Investment , HFCL , etc all locked in upper ckt in todays trade

Reliance Infratel, a subsidiary of Reliance communications, today filed its draft red herring prospectus for an initial public offer (IPO) with market regulator Securities and Exchange Board of India (SEBI).

ASIAN MKT :-
Shanghai market closes at 4672.17 up by 351.40 points after market regulator approves two new stock funds, reports CNBC TV18. The regulatory approval comes after 5-month freeze on creation of new funds. Hong Kong HANG SENG index also closes in GREEN

at 25032.08 up by 908.50 points

Profit
booking is recommended near 19,000 levels as the intermediate trend of the Sensex is still down. The earlier signal of the intermediate fall will be downward breach of 18,000 levels.The trading volumes are still on lower side and sudden increase in the trading volume will be a caution signals.Though the advance decline ratio is showing the positive improvement profit booking may be seen near 19,000 mark. Unless the Sensex crosses and sustains above 19,500 levels the current rally will be considered.


BTST CALLS


Today we recommended to buy
TTML as BTST at 37.90 target is 41.





Delivery Calls



Buy Kolte Patil at CMP 170 target is 500+ in 1Year



thanks

Abhishek

U can add me at infotips@yahoo.com

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