Market Today on 15th Sep 08

Last week was a bad week and it created a wave of panic among the investors and the market breeched its important support levels. All the good news were ignored. Now the first day of the week is the important day and to say a descesive day of bull and bears fight. News are positive, market has discounted more than enough and it is expected a good start of the week and the market may open 30-40 points gap up in Nifty. It is expected that market may hold its support of 4300 in nifty and 14300 in sensex by the end of the day.
Total turnover was very high in today’s trade, which stood at Rs 75,013.72 crore. This includes Rs 12,437.57 crore from NSE Cash segment, Rs 57,492.96 crore from NSE F&O and balance Rs 5083.19 crore from BSE Cash segment.
4300 in Nifty and 14300 in Sensex has been breeched and all depends on todays market, it is expected that on positive news market may hold its support again but if Nifty falls below 4200 then Bear may tighten its grip and we can see a fall below 4000. Market range whole day is expected to be between 4180-4310 in nifty and 13900-14350 in Sensex.
Sectors to Watch-
Market sentiments if remain positive then Metals and Banks will be the major gainer. IT can enjoy strengthening of dollar. Sugar is expected to be bitter yet another day. Realty may recover on releif rally. Reliance may decide Oil and Gas sectors movement.
Stock to Watch-
ICICI Bank, Indiabulls finance, Reliance infra, Thermax and Aban offshore. Reliance Industries is expected to bounce back.
To select stocks to accumulate for long term go to blogs of gujjubulls to have a overall view on the stocks.
For intraday traders it is advised to take proper position before going for short or long market may open. Book profit in small gains.
Lastly wishing you all a happy and earning trading day.