Market Today on 27.08.2008

Though we have witnessed three consecutive positive day but lack of strength in the market was clearly evident. Participation was less which has shown some improvement on Tuesday. Today again on positive global cues opening is expected in GREEN but market overall may lack lustur. There is lack of definite trigger to give a direction to the market. Extreme range bound and range being very narrow has become the pattern right now. Closure of market is expected to be choppy.
Total turnover traded in markets has improved a bit in today's trade, which stood at Rs 62,216.38 crore. This includes Rs 8,658.30 crore from NSE Cash segment, Rs 49,779.36 crore from NSE F&O and balance Rs 3,778.72 crore from BSE Cash segment.
4300 in Nifty and 14000 in Sensex is the immediate support level in Nifty and Sensex respectively, and if this is breached we may see again market going down below 4200 level in Nifty. Market range whole day is expected to be between 4250-4400 in nifty and 14200-14700 in Sensex.


Sectors to Watch-
Sectors may remain flat, Capital goods may face some selling pressure. IT and telecom may be positive though not by great extent. Banks and realty may see selling on last hour. Oil and Gas may gain.
Stock to Watch-
Cairns India, Reliance Industries, RNRL, Suzlon energy and BF Utilities.