Posted by Abhishek
To Get Email from Us clicK here.....
To Get Free Research Report , Please join our forum @ http://forum.tradingideas.in/
To Downlaod Our Personalised toolbar please Click here.....
A big rally in American Market helped Indian Market to open Gap Up about 325 points. Sensex finally closed at 536 points up 13112 , after continious fall from last 4 trading session. While Nifty shuts shops at 130 points up at 3947 lelvs.
In day trade Bank, realty and capital goods stocks, which were hardly battered by the market in lst 4 trading session, rebounded sharply and posted impressive gains. Metal stocks declined due to sealing pressure on Profits and if they hike prices Govt will not allow this hike in prices.
Banking Stock HDFC closed wooping 9.8% up . And many other stock also surged in todays trade :- Maruti ended 9.5% up @Rs 599.70. JP Associates up 9.2%. DLF spurted 8.45%. SBI 7.75%. Larsen & Toubro 7.5% and Tata Consultancy Services (7.15%) also made gud gains.
BPCL shot up by 9.3% on decline on Crude Oil Prices . Crude is trading at $ 129.8 a barrel at the time of writing this Blog.
Market Breadth
The market breadth was quite positive. Out of 2691 stocks traded on BSE today, 1536 stocks closed with gains. 1081 stocks posted losses and 74 stocks ended flat.
FII Data as of 17th July , 2008
Equity
Gross Purchase( Rs. Crores ) Gross Sale ( Rs. Crores) Net Investment ( Rs crores )
2,693.00 2,903.50 -210.50
Most Active Contract on Futures
Scrip Expiry Date Trd. Value(Rs.Lk) OI(in '000)
RIL 31/07/08 124078.72 727373
RPL 31/07/08 107434.65 4456840
ICICI BANK 31/07/08 34617.74 1087800
RELINCECAP 31/07/08 45636.19 482200
JINDALSTLP 31/07/08 17772.42 18781
Calls 4 July 18th , 2008
Inflation at 11.91%; Experts rule out major rate hike
Inflation for the week ended July 5 is at 11.91% versus 11.89%. A CNBC-TV18 inflation poll conducted earlier, saw inflation for week the ended July 5 at 12.03%. Bloomberg shows 12.05 %
The Ministry believes that inflation has stabilized. “Out of the 320 manufactured products, 281 items show price increases. Inflation in 30 essential commodities has declined from 5.98% to 5.74%. Inflation in primary articles has declined to 9.92% from 10.84%.”
Arbitrage Opportunities NSE > BSE
Company Name NSE Close BSE Close Diff in Rs % Diff
1) Bajaj Auto Fin 127.00 119.75 7.25 6.05
2) Kewal Kiran 230.00 220.45 9.55 4.33
3) Shriram City 362.00 350.80 11.20 3.19
4) Almondz Global 31.70 29.30 2.40 8.19
Equity Cash Market Call
Buy Allahabad Bank @ 57.8 Stoploss 56 target 59.50 / 61
Buy Axis Bank @ 636 Stoploss 625 target 653 / 665
Buy Reliance Capital @ 1030 sl 1005 tgt 1060 / 1100
Today Market Strategy : - As of now US market is trading at days level due to decline in Crude Prices .. We can expect our Indian Market will open gap up as it is expected. Please book ur profits in early of the sesson bcoz due to 2 days huge movement it is expected market can drift down. So , it is advisable to book profit on their BTSTs holding and also on Intraday Movement. Above Mentioned Allahabad bank is in Medium risk catagoery.. Axis bank is a High Risk trade so trade according to ur profile. and Reliance Capital is a low risk trade and can be initiated in Positional Trade also.
regards
Abhishek
Related Posts : MARKET OUTLOOK
0 comments for this post