Pre-Market report on 23.07.2008

[B. Karthick]

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Bulls set to dominate the Street
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Dalal Street is all set for a rally as all the indicators point
towards a
higher open on Wednesday. Expect the Sensex to touch the 14,500 mark
in
today's trade as bulls are expected to dominate the session.

Bulls finally found some string reasons to end the bear domination in
recent
days. The UPA government won the vote of confidence comfortably as
expected.
Positive global cues from the US markets might fuel a short term rally
in
the domestic markets. Oil dropped more than $3 to settle at the $128
level.
The Asian markets are set to fly in on the opening bell. Nikkei gained
more
than a percent at present.

Airlines and Auto are the two sectors to watch out in today's trade.
PSU's
and Oil marketing companies are the one to keep on radar as some bold
moves
are expected from the government in the near term. Midcaps started to
move
up in yesterdays trade and might play a catch up play soon. We expect
speculators to get active in the coming days and second rung stocks
might
spring back to life. So watch out for select midcaps and new listings
that
are available at a discount price.

The cement pack is eagerly waiting for an up move with the results due
from
ACC and some mid size cement companies this week. We see attractive
valuations in this sector as the market has already discounted the
slump in
the demand due to the slow down in construction activity. Crompton
Greaves,
Zee Entertainment and Renuka Sugars might show some activity ahead of
their
Q1 numbers today. Expect a rally in the market as positive mood
prevails on
the street.

Suitable stocks for intraday trading:
=====================================
<LT, BHARTIARTL, HDFC, DLF, NTPC, BANKINDIA, TCS, LITL, STER, GAIL>

Market Close Box:
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BSE Sensex 14104.20 254.16
NSE Nifty 4240.10 80.60
USD Rs.42.71
Oil Nymex $127.9

B.Karthick,
Research Analyst.