Market 08 Sept , 2008

By Abhishek on 10:55 PM

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Market Today : - Blasted

Indian market opened in line with expectation.. on the back of NSG approval.. and on the news that US goverment prepares a package for US Financial Fannie Mae and financial Freddie Mac to recover from recent sub prime crisis.. Inline with other Asian gaints Nikkei and Hang Seng ,, Indian market also open on deep green. 30 share BSE Sensex open up by 563.23 points and NSE Nifty opens 140 points up. But these rally could not sustain in last hour of the day , as profit booking came in the last hour of trade... Finally 30 share Sensex closed its shop by gaining more than 461.14 points @ 14,944.97 and NSE Nifty closed up by 130 points @ 4,482.30 .

Sectorial

Bank and Capital goods stocks were the high flyers in today trade.. Both index of Bankex and Capital Goods were the most gainer in absolute terms.. Sterlite and ICICI bank were the most gained stock in Sensex. While Consumer Durable is the only index who traded in Red in today trade. Whole market traded in rangebound throughout the day. Some buying interest was seen in midcap and smallcap stocks.

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Turnover on 08th Sept , 2008
NSE Cash-Rs.11695.30 BSE Cash-Rs.4505.75 Future-Rs.45977.53

Arbitrage Opportunities NSE >>> BSE

No , Stock for Arbitrage, available tomorrow... As it was high risk game..

Call Performance....
Pre - Market to all free members

No calls is been given on site.. for Monday... ,,,

CAll Given to Paid Members

  • Buy ONGC @ 1004 sl 991 tgt 1017 - Exited @ 1017 , booked fully
  • Buy IFCI @ 46.25 sl 45.80 tgt 47.50 - Exited @ 46.80 , made high of Rs47.10 after exit
  • Buy BAnk Nifty @ 6630 sl 6610 target 6680 - Exited @ 6665 , after that market blipped..
  • Short RNRL @ 95.90 sl 96.40 target 94.50 - Exited @ target price. booked fully.

Profit - Ongc - Rs13/sh , IFCI - Rs 0.55/sh , Bank Nifty - 875/ lot , RNRL - Re 1.40/sh

CAlls & Strategy for September 09, 2008

Calls -Pre market

  • Buy GSS America @ 298 sl 294 target 305
  • Buy Satyam Comp @ 429 sl 424 target 434

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As we said in our last article , LnT, RPower, NTPC, BHEL, HCC, Walchandnagar all will benifit from India - US Nuclear deal. All of these stock are on Sky maximum of them is on positive side from 6 - 10 % up.. Tomorrow We beleive that our Indian market will open on higher side on the good US clues but this higher opening cant be sustained too long. There will be a profit booking during the trading time tomorrow. So , we are adving all to book profit before 11.25 to avoid losses.. There wil be definatly a blip from stronger hands..

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