Market Today on 19th Aug 08

After a gap of some days I am here again with my market today. In spite of cooling crude which was supposed to be an active weapon to curb inflation, inflation soared to 12.44 again creating a wave of negative sentiments among the investors, leading to fall in market. Again the negative global cues will add the panic among the investors and we are going to witness another RED opening on Tuesday. Nofty may open below 4350 and the gap may increase as the day passes. Another CRR hike expectation may lead to another crash below 4000 in coming days if Nifty breaks 4200 barrier. Poor turn over clearly indicates the worried participation in market. Though some recovery may be witneesed by some buying in last hour of trade.
Total turnover traded in markets was very low at Rs 52,863.98 crore. This includes Rs 9346.86 crore from NSE Cash segment, Rs 39680.22 crore from NSE F&O and balance Rs 3,836.90 crore from BSE Cash segment.
4200 in Nifty and 14000 in Sensex is the key support level in Nifty and Sensex respectively, and if this is breached we may see again market going down below 4000 level in Nifty. Market range whole day is expected to be between 4220-4450 in nifty and 14200-14800 in Sensex.


Sectors to Watch-
IT sector may gain as Rupee depreciation is on peak. Fertilizers may see some recovery. FMCG and Healthcare may gain a bit, while Banks, Capital Goods and Realty will some another downslide.
Stock to Watch-
Jindal Steel and Power,TCS, Tulip Telecom, RCOM and Infosys..