PRE-MARKET REPORT - 30.05.2008
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N.Sukumar
May 30, 2008, 12:10:00 AM5/30/08
to Kences1
Bulls to give it a last shot, before shutting the shop for the
week
===================================================
Markets after making a plunge on Thursday are expected to bounce back
today(at least in the morning session to be on the safe side).
Although the market has breached the technical support of 16,400, we
consider yesterday's trade as idiotic as the indices bore the brunt of
F&O magic.
Overnight the US stocks continued to gain for the third day in a row
boosted by a fall in the Crude and better than expected revised GDP
numbers for the first quarter. A rising dollar helped push crude oil
prices down by more than $4 per barrel, as crude fell $4.41 to settle
at $126.62 on the NYMEX. The Dow Jones industrial average rose 52.19,
or 0.41 percent, to 12,646.22, where as the NASDAQ rose 0.87 percent
or 21 points to close the day at 2,508. Asian markets after a strong
day are expected to maintain their uptrend although Nikkei looks tired
after a rally yesterday.
Coming to the domestic bourses auto and banking stocks seem to be out
of the game where as stellar results from Larsen & Toubro's stellar
performs gives a reason for the Capital Goods sector. So investors who
are interested in short term positions might consider in firms like
Punjab Lloyd and Cummins India. We would like to reiterate that Oil
refineries might see some day light soon on the sops to be announced
by the government and a fall in the crude prices, which might cut down
their losses.
Markets are looking uncertain and people in the street are skeptical
about the coming month as the market has seen less roll over positions
than usual. we believe it is of less significance as it will take less
than a minute to considerable position in F&O. If you consider the
past few months where market has fallen considerably, for example if
you look at the month of January 2008 the roll over numbers from
December 2007 to Jan 2008 were great and all of us know what happened
to be market for the rest of the month. We do not want mislead you
painting a rosy picture here, but just wanted to let every one know
that, if you are long term investor things are not bad as most of the
so called 'Wise' guys in the market think.
Today Stocks suitable for intraday
<NATIONALUM,RCOM,RELCAPITAL,SATYAMCOMP,JSWSTEEL,AXISBANK,ICICIBANK>
Market Close Box
BSE Sensex 16316.26 -209.11
NSE Nifty 4835.30 -83.05
USD Rs.42.77
Oil Nymex $126.6
N.Sukumar
Research Analyst
week
===================================================
Markets after making a plunge on Thursday are expected to bounce back
today(at least in the morning session to be on the safe side).
Although the market has breached the technical support of 16,400, we
consider yesterday's trade as idiotic as the indices bore the brunt of
F&O magic.
Overnight the US stocks continued to gain for the third day in a row
boosted by a fall in the Crude and better than expected revised GDP
numbers for the first quarter. A rising dollar helped push crude oil
prices down by more than $4 per barrel, as crude fell $4.41 to settle
at $126.62 on the NYMEX. The Dow Jones industrial average rose 52.19,
or 0.41 percent, to 12,646.22, where as the NASDAQ rose 0.87 percent
or 21 points to close the day at 2,508. Asian markets after a strong
day are expected to maintain their uptrend although Nikkei looks tired
after a rally yesterday.
Coming to the domestic bourses auto and banking stocks seem to be out
of the game where as stellar results from Larsen & Toubro's stellar
performs gives a reason for the Capital Goods sector. So investors who
are interested in short term positions might consider in firms like
Punjab Lloyd and Cummins India. We would like to reiterate that Oil
refineries might see some day light soon on the sops to be announced
by the government and a fall in the crude prices, which might cut down
their losses.
Markets are looking uncertain and people in the street are skeptical
about the coming month as the market has seen less roll over positions
than usual. we believe it is of less significance as it will take less
than a minute to considerable position in F&O. If you consider the
past few months where market has fallen considerably, for example if
you look at the month of January 2008 the roll over numbers from
December 2007 to Jan 2008 were great and all of us know what happened
to be market for the rest of the month. We do not want mislead you
painting a rosy picture here, but just wanted to let every one know
that, if you are long term investor things are not bad as most of the
so called 'Wise' guys in the market think.
Today Stocks suitable for intraday
<NATIONALUM,RCOM,RELCAPITAL,SATYAMCOMP,JSWSTEEL,AXISBANK,ICICIBANK>
Market Close Box
BSE Sensex 16316.26 -209.11
NSE Nifty 4835.30 -83.05
USD Rs.42.77
Oil Nymex $126.6
N.Sukumar
Research Analyst
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