Below 5098 ,will crash to kiss
5030---5007 in panic
Now 3 &7 DEMA will act as hurdle
Avoid Long in Sensex /Nifty Stocks
FIIs were net sellers in the cash segment on Thursday at Rs8.54bn on a provisional basis. The local funds were net buyers of Rs2.31bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs22.62bn. As per the SEBI figures, FIIs were net sellers of Rs323mn in the cash segment on Tuesday.
3i Infotech, Allahabad Bank, Asian Paints, Bharti Airtel, CEAT, CESC, Concor, Corporation Bank, Dish TV, Edelweiss, Essar Oil, Grasim, HCC, Hindustan Zinc, ICI India, ITC, Mcleod Russel, Neyveli Lignite, Punj Lloyd, RIL, Tech Mahindra, UB and Zee News.
Today,global markets are bleeding dismissing any hopes one may have had yesterday of a bounce back. Wall Street suffered its worst one-day decline in nearly three months.No prices for guessing we will have a gap-down start on local bourses. The Nifty may find support at the crucial 5000 level, hopefully. Further selling may pull it down to 4950. In short, bears will have a field day today. A rebound will hinge on improvement in global sentiment and perhaps on surprisingly strong results from India Inc.
We expect RIL to register 63.7% yoy jump in net sales and 17.3% yoy growth in net profit. We expect Grasim to register 12.2% yoy growth in revenues and 69.1% yoy growth in net profit. US bank shares tumbled under the threat of new regulations. The basic-materials space was hit by worries about further tightening in China. Dow slid 214 points in its biggest drop since October 2009, wiping out all its year-to-date gains. European indices closed down by about 1.5-2%. Most Asian benchmarks are down sharply this morning.
L&T was the major loser with 6% loss. Its Q3 numbers were below the markets expectations. In a press conference, L&T said FY10 sales growth guidance was cut to 10% versus 15% aimed earlier, but reiterated that FY10 order inflow growth was seen over 30%.
YM Deosthalee, wholetime Director and CFO of L&T said delays were seen in certain projects due to which degrowth was seen this quarter. "The company's current order book stands at Rs 91,000 crore."
