Bears to have an upper hand on opening bell Mar 30, 2009 Stocks are likely to open lower on Monday morning as investors might take some money off the table. Expect the Sensex to correct by 100 points and close below the 10,000 level.
Asian stocks slipped for the first time in six days after commodities prices tumbled and on speculation a recovery for banks will be delayed.The MSCI Asia Pacific Index lost 0.5 percent to 85.03. Crude Oil is showing signs of a pull back after a decent month so far. Crude oil for May delivery slumped 3.6 percent to $52.38 on Nymex in Newyork. Investors should book profits in stocks that have shown some decent gains in the past month. Surana Ind, Sanwaria Agro, Matrix labs, Cinemax India and Bombay Rayon are some of the stocks that have seen a vertical move and it would be wise to book some profits here. Aban Offshore, JSW Steel, Skumars Nationwide and Reliance Natural have shown some speculative action on huge volumes. traders can take a shot at these stocks on either side. On the whole, a much needed correction is on the cards for stocks after a decent pull back for the past 3 weeks. Previous Close Box: BSE Sensex 10048.49 45.39 NSE Nifty 3108.65 26.40 USD Rs.50.54 Oil Nymex $52.38 Research Desk --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
