JAI SHRI KRISHNA
NASDAQ FINALLY MANAGED TO CLOSE POSITIVE AFTER A VOLATILE TRADING SESSION.
DOW JONES CLOSED -45 RECOVERING A LOT FROM ITS DAY'S LOW..
ASIAN MKTS TRADING IN RED...
EXPECT A WEAK OPENING AS GLOBAL CLUES
BUT RISE FROM THE LOWER LEVELS IS NOT RULED OUT. ZEE FUT : BUY WITH STOP LOSS OF 250 . . . . . TARGET OF 268, 275 . . . .
SESA GOA FUT :BUY WITH STOP LOSS OF 3424 WITH TARGET OF 3475, 3535. . .TITAN FUT :BUY WITH TARGET OF 1078, 1111. . . . . . .KEEP STOP LOSS OF 1014 . . . . SHRIRAM EPC.......BSE CODE : 532945 (255.00)
BUY AROUND 255 TO 256 WITH SL OF 239 FOR A TARGET OF 273 , 280.
ONMOBILE LTD........BSE CODE : 532944 (580.85)
BUY AROUND 575 TO 580 WITH SL OF 566 FOR A TARGET OF 595 , 603.
GUJARAT NRE COKE.....BSE CODE : 512579 (152.60)
BUY AROUND 151 TO 152 WITH SL OF 146 FOR A TARGET OF 158 , 16.
IOC : TARGET 1000+ ( BELIEVE IT OR NOT ) BUT, YES, ONLY SENSEX STOCKS:
SELL ON RISE ONLY.... WAIT FOR BOTTOM OUT....TILL THEN NO BUY.
DOWN SIDE STRONG SUPPORT EXIT
NIFTY----4800-----
BREAK AND CLOSE BELOW 4800 -
MORE SERVERE FALL IN THE MARKET UP TO 4500-4400 NIFTY FUTURE :TODAY RESISTANCE 4853, 4912, DOWN SIDE SUPPORT EXIT 4711
NIFTY FUTURES (F & O):SELLING MAY CONTINUE UP TO 4818 LEVEL. HURDLES AT 4845 & 4873 LEVELS.
ABOVE 4926-4928 ZONE, EXPECT RALLY UP TO 4979-4981 ZONE AND THEREAFTER IT WILL JUMP UP TO 4997-4999 ZONE.
ON NEGATIVE SIDE, IT SHOULD REBOUND AT AROUND 4762-4764 ZONE. IF FAILS THEN PROBLEM FOR BULLS TOO.
SHORT-TERM INVESTORS:SHORT-TERM UPWARD TARGET AT 5050-5052 ZONE. SHORT-TERM SUPPORT AT 4709-4711 ZONE. AVOID LONG POSITIONS BELOW THIS ZONE. OIL FUTURES FELL SHARPLY TUESDAY, DROPPING BELOW $100 ON THE POSSIBILITY THAT OPEC WILL BOOST PRODUCTION AND ON EXPECTATIONS THAT CRUDE INVENTORIES ARE CONTINUING TO RISE.LIGHT, SWEET CRUDE FOR APRIL DELIVERY FELL $2.93 TO SETTLE AT $99.52 ON THE NEW YORK MERCANTILE EXCHANGE AFTER DROPPING AS LOW AS $98.87 EARLIER. IT WAS CRUDE'S FIRST MOVE BELOW THE $100 MARK THIS WEEK AND ITS LOWEST SETTLEMENT PRICE SINCE FEB. 25. FIIS HAVE NET SOLD WORTH RS 683.5 CR AND MFS HAVE NET SOLD WORTH RS 452.9 CR ON 03.03.08 IN CASH SEGMENT NASDAQ AND DOW JONES BOTH TRADING DEEP RED, DOW -130, NASDAQ -24 NOW.... (9:25 PM IST) U.S. STOCKS OPENED LOWER ON TUESDAY AFTER CHIP MAKER INTEL CORP (INTC.O: QUOTE, PROFILE, RESEARCH) CUT ITS GROSS MARGIN FORECAST, ADDING TO WORRIES ABOUT TECH SECTOR SPENDING AND GROWTH. FEDERAL RESERVE CHAIRMAN BEN BERNANKE CALLED TUESDAY FOR ADDITIONAL ACTION TO PREVENT MORE DISTRESSED HOMEOWNERS FROM FALLING INTO FORECLOSURE US MKT DIPS MORE N MORE : DOW -166, NASDAQ -32 (9:40 PM IST) MERRILL LYNCH HAS REDUCED ITS FULL-YEAR EARNINGS PREDICTION FOR CITIGROUP BECAUSE IT BELIEVES THE BANK COULD WRITE DOWN ANOTHER $18 BILLION OF DEBT TIED TO SOURING MORTGAGES, ACCORDING TO DOW JONES NEWSWIRES. INTEL, MEANWHILE, LOWERED ITS FIRST-QUARTER EARNINGS FORECAST, A MOVE THAT HEIGHTENED WORRIES ABOUT THE TECHNOLOGY SECTOR. WALL STREET ALSO REMAINED CAUTIOUS AS IT AWAITED A SERIES OF SPEECHES FROM FEDERAL RESERVE OFFICIALS. FED CHAIRMAN BEN BERNANKE ALREADY WARNED IN A SPEECH IN FLORIDA EARLY TUESDAY THAT MORE HOME FORECLOSURES ARE COMING. MEANWHILE, FEDERAL RESERVE VICE CHAIRMAN DONALD KOHN IN PREPARED REMARKS TO U.S. SENATORS SAID BANKS FACE OBSTACLES, BUT THEIR CASH LEVELS ARE STRONG ENOUGH TO FACE THEM. THE DISAPPOINTING EARNINGS FORECASTS AND COMMENTS FROM FED OFFICIALS COME AS WALL STREET TRIES TO DETERMINE WHETHER THE ECONOMY IS IN RECESSION -- AND WHETHER INVESTORS HAVE BEEN A BIT TOO OPTIMISTIC ABOUT COMPANIES' PROFITS BOUNCING BACK IN THE SECOND HALF OF THE YEAR. BRITAIN'S FTSE 100 FELL 1.22 PERCENT, AFTER A POSITIVE OPENING WHOLE EUROPE IS ENDING IN DEEP RED: FTSE -84 (-1.45%), DAX - 156.23 (-2.33%); CAC -86.33 (-1.82%), WEAKENS PERSISTES.. *(9:35 PM IST) GERMANY'S DAX INDEX FELL 1.26 PERCENT, AND FRANCE'S CAC-40 DECLINED 1.14 PERCENT. (EVENING FIGURES) CITIGROUP, ONE OF THE 30 COMPANIES IN THE DOW, FELL $1.15, OR 4.9 PERCENT, TO $21.94 TO NEW NINE-YEAR LOWS. INDIA CEMENT SELL BELOW 198 ,,TARGET--193-190,,SL-- 202 PREMARKET INTRADAY
NASDAQ FINALLY MANAGED TO CLOSE POSITIVE AFTER A VOLATILE TRADING SESSION.
DOW JONES CLOSED -45 RECOVERING A LOT FROM ITS DAY'S LOW..
ASIAN MKTS TRADING IN RED...
EXPECT A WEAK OPENING AS GLOBAL CLUES
BUT RISE FROM THE LOWER LEVELS IS NOT RULED OUT. ZEE FUT : BUY WITH STOP LOSS OF 250 . . . . . TARGET OF 268, 275 . . . .
SESA GOA FUT :BUY WITH STOP LOSS OF 3424 WITH TARGET OF 3475, 3535. . .TITAN FUT :BUY WITH TARGET OF 1078, 1111. . . . . . .KEEP STOP LOSS OF 1014 . . . . SHRIRAM EPC.......BSE CODE : 532945 (255.00)
BUY AROUND 255 TO 256 WITH SL OF 239 FOR A TARGET OF 273 , 280.
ONMOBILE LTD........BSE CODE : 532944 (580.85)
BUY AROUND 575 TO 580 WITH SL OF 566 FOR A TARGET OF 595 , 603.
GUJARAT NRE COKE.....BSE CODE : 512579 (152.60)
BUY AROUND 151 TO 152 WITH SL OF 146 FOR A TARGET OF 158 , 16.
IOC : TARGET 1000+ ( BELIEVE IT OR NOT ) BUT, YES, ONLY SENSEX STOCKS:
SELL ON RISE ONLY.... WAIT FOR BOTTOM OUT....TILL THEN NO BUY.
DOWN SIDE STRONG SUPPORT EXIT
NIFTY----4800-----
BREAK AND CLOSE BELOW 4800 -
MORE SERVERE FALL IN THE MARKET UP TO 4500-4400 NIFTY FUTURE :TODAY RESISTANCE 4853, 4912, DOWN SIDE SUPPORT EXIT 4711
NIFTY FUTURES (F & O):SELLING MAY CONTINUE UP TO 4818 LEVEL. HURDLES AT 4845 & 4873 LEVELS.
ABOVE 4926-4928 ZONE, EXPECT RALLY UP TO 4979-4981 ZONE AND THEREAFTER IT WILL JUMP UP TO 4997-4999 ZONE.
ON NEGATIVE SIDE, IT SHOULD REBOUND AT AROUND 4762-4764 ZONE. IF FAILS THEN PROBLEM FOR BULLS TOO.
SHORT-TERM INVESTORS:SHORT-TERM UPWARD TARGET AT 5050-5052 ZONE. SHORT-TERM SUPPORT AT 4709-4711 ZONE. AVOID LONG POSITIONS BELOW THIS ZONE. OIL FUTURES FELL SHARPLY TUESDAY, DROPPING BELOW $100 ON THE POSSIBILITY THAT OPEC WILL BOOST PRODUCTION AND ON EXPECTATIONS THAT CRUDE INVENTORIES ARE CONTINUING TO RISE.LIGHT, SWEET CRUDE FOR APRIL DELIVERY FELL $2.93 TO SETTLE AT $99.52 ON THE NEW YORK MERCANTILE EXCHANGE AFTER DROPPING AS LOW AS $98.87 EARLIER. IT WAS CRUDE'S FIRST MOVE BELOW THE $100 MARK THIS WEEK AND ITS LOWEST SETTLEMENT PRICE SINCE FEB. 25. FIIS HAVE NET SOLD WORTH RS 683.5 CR AND MFS HAVE NET SOLD WORTH RS 452.9 CR ON 03.03.08 IN CASH SEGMENT NASDAQ AND DOW JONES BOTH TRADING DEEP RED, DOW -130, NASDAQ -24 NOW.... (9:25 PM IST) U.S. STOCKS OPENED LOWER ON TUESDAY AFTER CHIP MAKER INTEL CORP (INTC.O: QUOTE, PROFILE, RESEARCH) CUT ITS GROSS MARGIN FORECAST, ADDING TO WORRIES ABOUT TECH SECTOR SPENDING AND GROWTH. FEDERAL RESERVE CHAIRMAN BEN BERNANKE CALLED TUESDAY FOR ADDITIONAL ACTION TO PREVENT MORE DISTRESSED HOMEOWNERS FROM FALLING INTO FORECLOSURE US MKT DIPS MORE N MORE : DOW -166, NASDAQ -32 (9:40 PM IST) MERRILL LYNCH HAS REDUCED ITS FULL-YEAR EARNINGS PREDICTION FOR CITIGROUP BECAUSE IT BELIEVES THE BANK COULD WRITE DOWN ANOTHER $18 BILLION OF DEBT TIED TO SOURING MORTGAGES, ACCORDING TO DOW JONES NEWSWIRES. INTEL, MEANWHILE, LOWERED ITS FIRST-QUARTER EARNINGS FORECAST, A MOVE THAT HEIGHTENED WORRIES ABOUT THE TECHNOLOGY SECTOR. WALL STREET ALSO REMAINED CAUTIOUS AS IT AWAITED A SERIES OF SPEECHES FROM FEDERAL RESERVE OFFICIALS. FED CHAIRMAN BEN BERNANKE ALREADY WARNED IN A SPEECH IN FLORIDA EARLY TUESDAY THAT MORE HOME FORECLOSURES ARE COMING. MEANWHILE, FEDERAL RESERVE VICE CHAIRMAN DONALD KOHN IN PREPARED REMARKS TO U.S. SENATORS SAID BANKS FACE OBSTACLES, BUT THEIR CASH LEVELS ARE STRONG ENOUGH TO FACE THEM. THE DISAPPOINTING EARNINGS FORECASTS AND COMMENTS FROM FED OFFICIALS COME AS WALL STREET TRIES TO DETERMINE WHETHER THE ECONOMY IS IN RECESSION -- AND WHETHER INVESTORS HAVE BEEN A BIT TOO OPTIMISTIC ABOUT COMPANIES' PROFITS BOUNCING BACK IN THE SECOND HALF OF THE YEAR. BRITAIN'S FTSE 100 FELL 1.22 PERCENT, AFTER A POSITIVE OPENING WHOLE EUROPE IS ENDING IN DEEP RED: FTSE -84 (-1.45%), DAX - 156.23 (-2.33%); CAC -86.33 (-1.82%), WEAKENS PERSISTES.. *(9:35 PM IST) GERMANY'S DAX INDEX FELL 1.26 PERCENT, AND FRANCE'S CAC-40 DECLINED 1.14 PERCENT. (EVENING FIGURES) CITIGROUP, ONE OF THE 30 COMPANIES IN THE DOW, FELL $1.15, OR 4.9 PERCENT, TO $21.94 TO NEW NINE-YEAR LOWS. INDIA CEMENT SELL BELOW 198 ,,TARGET--193-190,,SL-- 202 PREMARKET INTRADAY