Market Today on 12.08.2008

It seems market had decided to cross its barrier and bulls are in full form and prepared to throw bears out of its den. Market performed well as expected but the way it went whole day clearly indicates the cautiousness of investors. In spite of rich global cues and crude dropping substantially, participation was not up to the mark which is indicated by the volume which was below 58000 crs. Crude now almost at its strong support level of 110$ and global cues again favoring which will lead the market to open in GREEN but 4700-4750 is the barrier where certainly we will witness some profit booking ant at the end market may end choppy though positive.

Total turnover traded in markets stood at Rs 57,586.55 crore. This includes Rs 12,421.49 crore from NSE Cash segment, Rs 39,699.28 crore from NSE F&O and balance Rs 5,465.78 crore from BSE Cash segment.

4700 -4750 in Nifty and 16000-16300 in Sensex is the resistance level in Nifty and Sensex respectively, and if this is crossed we may see upto 4900 in nifty and 17500 in Sensex. Market range whole day is expected to be between 4580-4720 in nifty and 15400-16050 in Sensex.

HOT SECTOR OF THE DAY
Banks, Realty and Capital Goods will see some gain while Infrastructures and Oil and Gases may correct.

HOT STOCKS OF THE DAY
DCB, Ansal Infra, Bank Of India, Adlabs and Reliance Capital.

Be active here for my intra day calls.