Market Today on 08.09.08

Friday was a day of profit booking on the confusion about Nuclear deal, now as the deal is through and India got NSG waiver, market seems to react positively. Asian markets were beaten badly in last 2-3 sessions are also due for a recovery and this will all lead to a GREEN opening of market with an expected 50-60 points up in Nifty. Market may range at this level and may see some more upward movement in second half on cues of European markets which are also expecting a good recovery.

The market turnover stood at Rs 63,055.53 crore. This includes Rs 11,390.26 crore from NSE Cash segment, Rs 46,868.19 crore from NSE F&O and balance Rs 4,797.08 crore from BSE Cash segment.
4300 in Nifty and 14300 in Sensex is the strong support level in Nifty and Sensex respectively. Though these level doesn’t seems to get breeched in near term as the market will hold at 4300 right now Market range whole day is expected to be between 4300-4480 in nifty and 14200-15000 in Sensex.

Sectors to Watch-
Power and Energy, Infrastructures, Capital goods will be the major gainer, Banks and Realty may be positive on decreasing inflation, other sectors will be sedative with positive bias.
Stock to Watch-
Reliance Industries, Reliance Infra, NTPC, Rolta, Areva T & D, L&T, JP Associates and Suzlon Energy.