Pre-Market report on 16.07.2008
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B. Karthick
Jul 16, 2008, 12:22:20 AM7/16/08
to Kences1
===================================================
Will the free fall hit the wall ?
===================================================
Yet another day of rocky ride on the wall street and what appeared to
be a near term bottom was formed in the early hours of trade when Dow
Jones recovered after going down 200 points only to close down nearly
90 points. Banking sector is once again battered by the street with
expectations of huge write downs and rumours downgrades continued to
haunt the already thrashed stock prices.
Japanese markets opened flat today signalling a subdued day of trade
across Asia. US Dollar hit its lifetime low against Euro.
Indian Markets are likely to open flat with bouts of volatility and
might close in the positive zone. There is absolute no trading/
investing interest in the retail, mutual fund and FII fraternity.
Though there are lot of bargains in the market none of us are ready to
venture into the market, courtesy lot of uncertainities.
Political uncertainity,tightening credit, FII outflow are few of the
major reasons for the current slide. Big money should get into the
market and clean the system. When will that happen? And the current
crisis is not local to India and it should start from the big brother
USA. There is no chance of de-coupling at this moment. Wall Street is
looking extremely positive for short term big bang rallies after a
crash with out pull backs. It can happen in a day or two followed by
Asian rally and remember this should be considered as a short term
pull back only.
Suitable stocks for intraday trading:
<SATYAMCOMP, ONGC, BHARTIARTL, HDIL, TCS, EDUCOMP, TATAPOWER,
BOMDYEING, SUNPHARMA, MARUTI>
Market Close Box:
=================
BSE Sensex 12676.19 -654.32
NSE Nifty 3861.10 -178.60
USD Rs.43.17
Oil Nymex $138.7
B.Karthick,
Research Analyst.
Will the free fall hit the wall ?
===================================================
Yet another day of rocky ride on the wall street and what appeared to
be a near term bottom was formed in the early hours of trade when Dow
Jones recovered after going down 200 points only to close down nearly
90 points. Banking sector is once again battered by the street with
expectations of huge write downs and rumours downgrades continued to
haunt the already thrashed stock prices.
Japanese markets opened flat today signalling a subdued day of trade
across Asia. US Dollar hit its lifetime low against Euro.
Indian Markets are likely to open flat with bouts of volatility and
might close in the positive zone. There is absolute no trading/
investing interest in the retail, mutual fund and FII fraternity.
Though there are lot of bargains in the market none of us are ready to
venture into the market, courtesy lot of uncertainities.
Political uncertainity,tightening credit, FII outflow are few of the
major reasons for the current slide. Big money should get into the
market and clean the system. When will that happen? And the current
crisis is not local to India and it should start from the big brother
USA. There is no chance of de-coupling at this moment. Wall Street is
looking extremely positive for short term big bang rallies after a
crash with out pull backs. It can happen in a day or two followed by
Asian rally and remember this should be considered as a short term
pull back only.
Suitable stocks for intraday trading:
<SATYAMCOMP, ONGC, BHARTIARTL, HDIL, TCS, EDUCOMP, TATAPOWER,
BOMDYEING, SUNPHARMA, MARUTI>
Market Close Box:
=================
BSE Sensex 12676.19 -654.32
NSE Nifty 3861.10 -178.60
USD Rs.43.17
Oil Nymex $138.7
B.Karthick,
Research Analyst.
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