Vijay Mallya buys Gandhi's Artifacts

सेन्सेक्स (8325.82) 127.90 अंक चढ्कर, नीफ़्टी (2620.15) 43.45 अंक चढ्कर, बंद..

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European markets update: FTSE Index flat, DAX Index up 0.4% and CAC Index up 0.2%

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Long 2500 March Nifty Put @ Rs61 or less with SL of Rs50 for target of Rs85

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High risk traders buy & hold Reliance Capital between Rs307-310 with SL of Rs299 for target of Rs322, 325

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HIgh risk traders buy & hold Reliance Infra between Rs441-444 with SL of Rs428 for target of Rs465, 470

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High risk traders buy & hold Axis Bank between Rs302-304 with SL of Rs297 for target of Rs313, 316

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HDFC BANK FO CLOSED at RS. 794.90

POSITIVE TREND if trade aboveRs. 788

With SL Rs 781 for the target of Rs.806 to 815 levels

Nifty levels as per charts ..

The outlook continues to remain grim for the coming days. Consumers and banks continue to be risk averse. It is the crisis of confidence which is plaguing the markets, not only in India but across the world. Unless there is a reversal in this trend, we are unlikely to see a sustained advance in stocks.

Intraday below 2537 level,

It will be in Bearish trend. Selling is suggested

with SL of 2564 level

for the target of 2517 to 2490 levels;

Regarding POSITIVE TREND,

Buying is suggested at level of 2564

with SL of 2537,

Target at 2588 to 2597 levels.....!!!

Reliance Industries

Shares of Reliance Industries dropped by over 5% to Rs1149 after the company reported a 12.1% dip in production to 2.8mn tons. The company also started another 580,000 barrels per day refinery adjacent to its existing 660,000 barrels per day unit on Dec. 25, 08.

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Pri Market Commentary ...

Today, we expect another weak opening. While the US shares crashed overnight and Asian markets are mixed, with only the Nikkei down significantly. Depending on global cues some recovery could set in later. Seven-year low inflation rate of 3.03% for the week ended Feb 21 seems to be a non-event.

Life is getting tougher for corporates and consumers alike. And, though governments and central banks are doing their best to reverse the slide, the markets are not particularly enthused. Chances are that things may get even worse before there is any meaningful recovery. Brace up for a long period of pain in terms of economic contraction, sagging consumption and dwindling investments.

We are in the midst of a perfect storm and there aren’t many places to hide. The global recession is getting worse by the day. FIIs continue to dump Indian shares and a weak rupee too is a cause for concern as is the precarious government finances. Some say the flight of safety is taking its toll on our market. But where is the safety we wonder!

If you are a long-term investor, stepping in at this point could be a good move. One should buy on the way down, rather than on the way back up. And, it is near-impossible to know exactly when the bottom is going to be hit. If you have the stomach and the money, then investing at these levels and holding out through the period of bounce back will translate into decent gains.

ONGC

Shares of ONGC slid by 2% to Rs651 after Goldman Sachs reiterated a Sell on the public sector oil & gas major, citing five major concerns, including corporate governance issue with cash withdrawals by promoter (Government of India).

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Positive & Nagative Breakouts

Positive Breakouts

Mphasis
Ashok Leyland
National Alumin
Tata Tele
Cairn India

Negative Breakouts

Indian Hotels
DLF
Tech Mahindra
Union Bank India
ACC

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FIIs were net sellers in the cash segment on Thursday at Rs5.9bn

FIIs were net sellers in the cash segment on Thursday at Rs5.9bn, while the local institutions pumped in Rs4.79bn. In the F&O segment, the foreign funds were net sellers at Rs2.93bn. On Wednesday, FIIs were net sellers in the cash segment at Rs4.5bn. Mutual Funds were net sellers of Rs2.13bn on the same day.

Pre Market Ideas !!

Sell SBI

Sell Icici Bank

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Pre Market Intraday Ideas !!

Sell Reliance
Sell Axis Bank

Buy JP Associates

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NIFTY (2576) SUP 2524 RES 2615

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सेन्सेक्स (8197.92) -248.57 अंक गीरकर, नीफ़्टी (2576.70) -68.50 अंक गिरकर, बंद..

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European markets update: FTSE Index down 1.1%, DAX Index down 1% and CAC Index down 1.2%

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India Inflation for the week ended Feb 21 was at 3.03%, against expectation of 3.07%

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