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Realty to Banking | No Place to Hide for Shorters
Market inched higher for a fifth consecutive day of as both the benchmark indices closed with nearly 3% gains on the back of sharp recovery seen in last one and half hour of trading session. Market started its day in weak note from weak Asian market and sideways US clues. The Sensex touched the day's low of 10,116, down 222 points. The Sensex to recover the lost ground but it managed its way and finally closed in big bang way. All bluechip stocks helped market to inched higher. The Sensex ended the day with a gain of 293.44 points, or 2.84% at 10,631.12 after touching a high of 10,668.48 and a low of 10,116.22. The broad-based NSE Nifty climbed 98.25 points, or 3.23% at 3,142.10 after hitting a high of 3,152.30 and a low of 2,985.00.
IT stocks however ended sharply lower on speculation that if Obama wins the US presidential election, the outsourcing business of the country will be curtailed. Finance Minister, P.Chidambaram met PSU Bankers today and discussed Agriculture & SME credit, liquidity enhancing measures, credit growth, capital adequacy with them. Major PSU banks see interest rates softening after opening of liquidity tap by RBI last week. Bank stocks led the rally on the domestic bourses in late trade, with gains in key overseas equity markets supporting the upmove.
Asian stocks rose, led by Japanese and financial companies, as lending costs tumbled the most in almost a decade in Japan and Australia`s central bank cut interest rates.
Among the sectoral indices, BSE Realty index was the top gainer, surging 12%, followed by Bankex, which gained 6.6%. IT and Teck indices were the sole losers, down 4.3% and 0.8% respectively. DLF and Ranbaxy surged 14.7% and 10% respectively, becoming top gainers among the sensex stocks while Satyam and TCS were the top losers, plunging 7.4% each.
Trade Performance for 04 - 11 - 2008
- Buy Suzlon @47.50 - 48 sl 46.50 tgt 50/51 - exited at tgt2, made profit of Rs. 3 in each share. If traded with 1000 share, then profit of Rs. 3000/trade.
- Buy TATACHEM @ 168 sl 164 tgt 173/175/177 - Exited at tgt3, made profit of Rs. 9/share. If traded with 250 shares, then profit of Rs. 2250/trade.
- Buy Nifty Fut 3021 sl 2990 target 3060/3090 - Exited at 3086. Made profit of Rs. 65 points/lot. If traded with 1 single lot, then profit of Rs. 3250/trade/lot.
- Buy Adlabs @ 193 sl 187.30 target 198/201. - Exited @ tgt2. Made profit of Rs 8/share. If traded with 500 share, then profit of Rs. 4000/trade.
- Buy SAIL @ 93.80 sl 91 target 96/99 - Exited @ tgt2 . Made profit of Rs. 5/share. If traded with 500 share, then profit of Rs. 2500/trade.
- Buy HDFc Bank for BTST @ 1084 sl 1070 target 1105 / 1120 .- Exited @ tgt. Made profit of Rs. 36/share. If traded with 100 share, then profit of Rs 3600/trade.
Profit - Suzlon : Rs. 3000/trade ; TATA CHEM : Rs. 2250/trade ; Nifty fut : Rs 3250/trade ; Adlabs : Rs 4000/trade ; SAIL : Rs. 2500/trade ; HDFC Bank : 3600/trade.
Approx Profit : Rs. 18600 / trade.
****** All Qty mentioned here is our suggested qty, that we mentioned in our Trading SMS with each call..
Links to This Week Performance Report ( 03-11-2008 to 07-11-2008)
Trade Performance for 03-11-2008
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