Consolidation time on the Street, All eyes on Infy Apr 15, 2009 Stocks in India are likely to open lower and consolidate at the current levels barring a negative news on the results from Infosys. Expect the sensex to give up neary 150 to 200 points or 2 percent for the day.
Markets in Asia opened lower on negative cues form the US and a stronger yen dimmed the earnings outlook for Japan’s electronics and auto companies.South Korea's KOSPI opened lower down 22 points or 1.6 percent to 1,320. Wall Street shifted into reverse Tuesday after a surprisingly weak retail sales report punctured investors' optimism about the economy.The Dow closed down 137.63, or 1.7 percent, at 7,920.18. The Standard & Poor's 500 index fell 17.23, or 2 percent, to 841.50, and the Nasdaq composite index fell 27.59, or 1.7 percent, to 1,625.72.All eyes will be on Infosys's Q4 numbers before the opening well. We expect Infosys to report numbers'inline' with the markets expectation and the guidance is expected to be a lower and might spell trouble for the company's stock price which hovering around Rs 1400 level. We advice investors to stay on the sidelines as we have a 'neutral' view on the stock. Our favorite stock, Rolta spiked by more than 40 percent yesterday crossing the Rs 100 mark. we advice investors to book profits at these levels and re-enter the stok at Rs 80 level, as the long term fundamentals still look good for the company. Stay away from fancy stocks like prime focus and operator driven stocks like Prithvi Info. It is consolidation time on the street and expect some correction to set in, first thing in the morning. Previous Close Box : BSE Sensex 10967.22 163.36 NSE Nifty 3382.60 40.55 USD Rs.49.86 Oil Nymex $49.40 Research Desk. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
