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Market Today -
On sideways
Indian market today get the hardest hit in past few days. Market fall inline with other US and Asian market fall, and get sustained selling pressure on every rise. During market time Infrastructure Output number for July came @ 4.3percent vs 7.2percent on the comparision on same period of year ago. Crude touched $101.36/ barrel mark a new low in last 4 month. During the couse of day Indian Rupees (INR) depriciated to 45.18 to a dollar mark a fresh 22 month low. This news helped Indian IT stock to flare a bit but soon they fused on Weak global and local sentiment. Benchmark BSE Sensex index ended day with loss of 238.15 points @ 14,662.61. The Broader Index NSE Nifty declined 68.45 points @ 4,400.25.
Sectorial
All sectorail Index closed in red , while the BSE METAL pack get the hardest hit on the news of Govt is going to impose a new tax on Iron Ore Exporting Companies.. and on the restructring plans of Sterlite Industries.. Ster got the biggest hit among Sensex stock , this stock was trading 12% down from its previous close. Rember it also got a hit of 7.2% on Tuesday. Tata Steel also get a big hit on news of Govt new tax and it was down by 5.2% the second most losing stock after Sterlite. BSE metal pack was down about 5.5% . Surprisingly the cement stock trading on SENSEX were the only gainer on the Sensex Index. The first sector who got the govt ban on 2007 on the name of controlling rising Inflation by banning the cement export. Grasim and ACC , the BSE sensex stock both were up by 0.8% & 0.7% respectively. Seems something is cooking on Cement Sector.
Turnover on 08th Sept , 2008
NSE Cash Rs.11988.46 BSECash-Rs.5179.34 Future Rs.52717.79
Arbitrage Opportunities NSE >>> BSE
Strong Arbitrage opportunities found in ADVANTA INDIA . If any want to know levels can ask for the same on infotips@yahoo.com
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Call Performance....
Pre - market call performance
No , call given to any member , Only Alert given for Resurgere Mines and Austral Coke
Austral Coke - made high of 255.70 and finally closes @245.15 up by 6.22% and Rs 14.35 in Rupees terms
Resurgere Mines - made high of 311.40 , comes in green for 6% after opening in negative territory in morning
Paid Calls
No call is given to any clients , as we were not available for charts today.
CAlls & Strategy for September 10, 2008
Pre- market calls
- Again Buy Austral Coke @ 246 sl 240 target 252- 255 ( Risk - above Average)
- Buy PTC @ 78.30 sl 77.50 target 79.50 - 80.20
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Strategy
We beleive Indian market will open on higher note tomorrow after today sell/ profit booking. We advice all traders to exit market before 12 O clock to minimise ur losses. And please exit before the targets as targets are only indicative, and it is not gurantee that they wll acheived.
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