Bulls look to dominate, banking on Tuesday's rally After putting on a good show yesterday,the stocks on Dalal Street look to repeat their performance on Wednesday. Bulls are likely to take advantage of the easing concerns in the global financial markets. Expect the market to inch up by nearly 250 points or 2 percent.
U.S. stock indexes on Tuesday blasted back from the prior session's historic rout, with the Dow Jones Industrial Average chalking up its third-biggest point gain on optimism that a rescue plan would make a comeback in coming days on Capitol Hill. The Dow Jones Industrial Average gained 485.21 points, or 4.7%, to 10,850.66. Asian stocks climbed, snapping a six- day losing streak, on speculation the U.S. Senate will approve a $700 billion bank rescue plan tomorrow. Japan's Nikkei 225 Stock Average gained 1.6 percent to 11,443.45 and all the major indices in the region are off for a decent start today. Things are returning to normalcy as investors concerns on the domestic banking sector were calmed by the Reserve Bank of India and Finance Minister Palaniappan Chidambaram reassurance that India's second- largest bank ICICI has enough capital to breeze through the crisis. Banking, Realty and IT led the rally yesterday and this is expected to continue today with broader participation from the other sectors. It looks like we have reached attractive levels as far as the valuations of the stocks are concerned. So we have witnessed some bargain hunting at lower levels. Stocks like Grasim, ACC and Ranbaxy are available at attractive levels for the long term investors.We strictly advice against day trading in these markets, as they are expected to be volatile. So it is crucial for the investors to put their money in to stocks with great fundamentals. Suitable stocks for intraday today: <ICICIBANK, BHEL, HDFCBANK, SATYAMCOMP, RCOM, RANBAXY, GAIL, SIEMENS, HEROHONDA, GRASIM> Market Close Box: BSE Sensex 12860.43 264.68 NSE Nifty 3921.20 71.15 USD Rs.47.06 Oil Nymex $100.6 B.Karthick Research Analyst. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
