Time for a rebound on Dalal Street Stocks in India are likely to trade higher on opening bell after the Sensex fell more than 350 points on Friday. Expect the benchmark index to gain more than 150 points or nearly one percent for the day.
Asia is of for a good Start as the benchmark indices in Japan and South Korea are up by more than 1 percent on opening bell. Crude Oil and Gold corrected a little bit in early morning trade. On Wall Street Stocks rallied Friday, with the Dow and S&P 500 closing at the highest point in nine months, after the July jobs report showed the smallest number of job cuts in nearly a year, adding to recovery hopes. Auto and Realty stocks were among the major losers on Friday, and we expect Realty bounce back int today's trade. Metal stocks look like they have some more room to grow, going forward as commodity prices remain firm. Investors booked profits in stocks that have had a dream run. Tech Mahindra fell more than 7 percent to Rs 767. United Spirits, Suzlon Energy, IRB Infra and Brand House Retail were some of the stocks that are under sever selling pressure. Prism Cement looks strong at RS 53 even after gaining more than 15 percent on huge volumes in a falling market. Analysts attribute the spurt in the stock price to the company's plans to consolidate the business of H.& R. Johnson Limited and RMC Readymix Private Limited with the Company.Barack Valley Cement and Sun Pharma Advance Research have seen huge volumes and look interesting at these levels. Today might be a good day for the bulls as there is a strong chance for decent gains in equities. Traders could look at stocks like Genus Power, Punjab Chemicals, India Info line and Fortis Healthcare for some intraday moves. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4513 / 4564 / 4585 / 4609 / 4630 NIFTY INDEX Support : 4469 / 4448 / 4424 / 4398 Mean :4491 Key Numbers for NIFTY on upside 4564 / 4585 / 4630 Key numbers for NIFTY on down side 4469 BANK NIFTY INDEX Resistance: 7312 / 7375 / 7469 / 7563 BANK NIFTY INDEX Support :7186 / 7123 / 7060 Mean : 7249 Previous Close Box: BSE Sensex 15160.24 -353.79 NSE Nifty 4481.40 -104.10 USD Rs.47.86 Oil Nymex $70.57 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 -~----------~----~----~----~------~----~------~--~---
