Market Today on 11.08.2008

Market corrected on Friday as the inflation figure crossed 12, but the sentiments are good and this was seen in the last hour of market. Crude being the real trigger for market as it has been helping out the market globally. Now the crude has fallen below 116$ which was the immediate support. Global cues are favorable, US market ended in positive note and Asian markets are too expected to open positive, helping to have a good gain in our market. Thus on Monday market will certainly open in GREEN with a gap up of 30-40 points on Nifty which will go up further. Last hour again we may see a bit profit booking though overall market breath is good.

4700 in Nifty and 16000 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 4480-4690 in nifty and 14900-15650 in Sensex.

Sectors to Watch-
Capital Goods, Banks and Realty will show some good gain, while FMCG and Health Care will be passive. Oil and Gases will recover a bit but at present not very bullish sector.

Stock to Watch-
Reliance Industries is bound to cross 2300 level. Other hot stock is expected to be Axis Bank, RNRL, Reliance Capital and Bank of India.

BE ACTIVE HERE FOR MY INTRADAY CALLS WHICH WILL BE POSTED HERE.