Index recovred from days lows, closes near to Intraday High.

Indian markets slips in early trade and opened down to 304 points as U.S or Asian market Indices showed weakness, but it recovred sharply 3% from the intraday lows on the back of sharp recovery seen in later half of the day outperforming most of the Asian markets. Sensex recovered as Banking, Realty and Power stocks shows strenght in the session. Sensex finally ended the session by shedding 1.14% or 101.63 points at 8,739.24 . Nifty slipped 25.10 points at 2,657.80.

BSE auto and Consumer Durable indices were the top losers among the sectoral indices, falling 3% and 2.6% respectively. Realty and FMCG indices were the top gainers, up 2.1% and 1% respectively. Reliance Infra and Bharti Airtel were the top gainers among sensex stocks, gaining 5.4% and 3% respectively, while M & M and Maruti plunged 8.2% and 5.2% respectively
 
Nikkei and Hang Seng plunged 6.4% and 5.1% respectively. European markets as well as US stock futures recovered smartly from lower levels. Nymex crude touched $ 47.36 in todays trade, the lowest level since May 2005. Weak European markets, fall in US index futures and dismal economic data which added to the concerns about the weakening domestic and global economy pulled the domestic bourses to intraday low in late trade.

Trade Performance for 02 - 12 - 2008

• Buy TATA Power @ 634 sl 629 tgt 641-645 - Exited @ tgt2 . Made profit of Rs. 11/share. If traded with 150 shares, then profit of Rs. 1650/trade.

• Buy Axis Bank @ 414 sl 408 tgt 419-423 - Exited @ 422 lelvls. Made profit of Rs. 8/shares. If traded with 150 shares, then profit of Rs. 1200/trade.

• Buy Rel Infra @ 478 sl 474 tgt 483 - 487 - Exited @ 484. Made profit of Rs. 6/share. If traded with 250shares, then profit of Rs. 1500/trade.

Profit : TATA POWER - Rs. 1650/trade , Axis Bank - Rs. 1200/trade , Rel Infra - Rs. 1500/trade.

Approx Profit : Rs. 4350/trade.




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****** All Qty mentioned here is our suggested qty, that we mentioned in our Trading SMS with each call..

Links to This Week Performance Report ( 01-12-2008 to 05-12-2008)

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