Buyers Stampede likely to bolster the Sensex for the second day in a row Bulls are back in the market, as we are likely to see a buying stampede on Dalal Street. We are likely to witness a jump of nearly 600 points or 5 percent in the sensex. The next likely resistance for the Sensex is 11.980.00.
U.S. stocks sprang higher on Monday for the first day in nine, with the Dow Jones Industrial Average tallying its biggest daily point jump on record, after international government actions revived confidence in the banking sector and credit markets.Dow Jones Industrial Average gained 936.42 points, or 11.1%, to finish at 9,387.61.The S&P 500 rose 104.10 points, or 11.6%, to 1,003.32, the S&P's largest daily point jump and fifth-largest daily percentage climb.The Nasdaq Composite climbed 194.74 points, or 11.8%, to 1,844.25. Expect a strong opening in the Asian markets capitalizing on the rally in the US stocks. Metals, IT and Realty stocks are expected to lead the rally in today's market. The rally is expected to be across the board as we are likely to see some inflows from the funds that have been waiting on the sidelines. Engineering firms like L&T and BHEL might see some strong moves ahead of the Q2 numbers. Midcaps which have under performed in yesterday's rally might look to rebound strongly. We like stocks like Vishal Retail (Rs 138), Core Projects (Rs 58), Rajesh Exports (Rs 22) at these valuations, as there is a good chance of a rebound in the short term. We advice serious caution for the medium term investors in the current market scenario. This week provides a great opportunity for short term investors who would like a quick trade as bullishness is likely to prevail in the short term. So, for investors who are looking from a 6 month perspective or who intend to invest their entire savings or borrowed capital are strictly advised to stay away. This is a good market for people who would like to do some quick trades or who would like to invest from 2 to 3 year horizon. Market Close Box: BSE Sensex 11332.23 804.38 NSE Nifty 3490.70 210.75 USD Rs.48.03 Oil Nymex $81.19 B.Karthick 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 -~----------~----~----~----~------~----~------~--~---
