Pre Market Report : 30.03.2009

[Ravi Chandran.K]

Bears to have an upper hand on opening bell
Mar 30, 2009

Stocks are likely to open lower on Monday morning as investors might
take some money off the table. Expect the Sensex to correct by 100
points and close below the 10,000 level.

Asian stocks slipped for the first time in six days after commodities
prices tumbled and on speculation a recovery for banks will be
delayed.The MSCI Asia Pacific Index lost 0.5 percent to 85.03. Crude
Oil is showing signs of a pull back after a decent month so far. Crude
oil for May delivery slumped 3.6 percent to $52.38 on Nymex in
Newyork.

Investors should book profits in stocks that have shown some decent
gains in the past month. Surana Ind, Sanwaria Agro, Matrix labs,
Cinemax India and Bombay Rayon are some of the stocks that have seen a
vertical move and it would be wise to book some profits here.

Aban Offshore, JSW Steel, Skumars Nationwide and Reliance Natural have
shown some speculative action on huge volumes. traders can take a shot
at these stocks on either side. On the whole, a much needed correction
is on the cards for stocks after a decent pull back for the past 3
weeks.

Previous Close Box:

BSE Sensex 10048.49 45.39
NSE Nifty 3108.65 26.40
USD Rs.50.54
Oil Nymex $52.38

Research Desk