Bulls to take center stage as all indicators point north
===================================================
Bulls are set to dominate on the first trading day of the week as the
cloud of uncertainty over the Indo-US nuclear deal have cleared and
more importantly the broader market sentiment has improved over the
weekend on the news that the US government will take over the mortgage
giants Fannie and Freddie.Stock futures across Asia are pointing for a higher open as the MSCI Asia Index has experienced one of the worst weekly performance in more than a year. In what could be called an encouraging development for the stocks in Wall Street,the US government has taken over the troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy. Fall in the crude is good news for the stocks and the economy on the whole. The happiness might be short lived as it is widely expected that the OPEC meeting in Vienna on Wednesday might decide to trim the supply to avoid a further fall in prices of crude oil. BPCL, HPCL and IOC looks like major beneficiaries as long as the fall continues. Keep a close watch on Banking, IT and select midcap stocks in today's trade. The market is expected to bounce more than 400 points as bulls might get a big push from short covering in stocks. IT stocks are likely to steal the limelight in the medium term taking advantage of the fall in the rupee. Tech Mahindra might see some activity on the news that the PE firm KKR might be interested in buying out BT's stake in the company. Avoid trading in Resurgere Mines intraday. Celestial labs, Sona Koyo Steerings, IFCI and Kolte Patil Developers are some of the stocks to keep on the radar for traders.Over all expect nearly a 400 point gain for the Sensex with bulls taking the center stage. Suitable stocks for 'Intraday' today <ICICIBANK,BHARTIARTL,TATASTEEL,INFOSYSTCH,BHEL,HDIL,PUNJLLOYD,TATAMOTORS, TATAPOWER,BOMDYEING> market Close Box BSE Sensex 14483.83 -415.27 NSE Nifty 4352.30 -95.45 USD Rs.44.37 Oil Nymex $106.2 N.Sukumar Research Analyst --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
