Bullish momentum to continue Stocks in Mumbai are likely to continue their upward momentum after, Dalal Street witnessed a bull run on Thursday. The rally was fierce on the back of some short covering. We expect the benchmark index to gain nearly 150 points or 1 percent for the day.
A rally in commodity stocks boosted Asian stocks early Friday, as metal prices climbed and crude-oil futures rose above $71 a barrel. Japan's Nikkei 225 average gained 0.8% to 10,597.54 Australia's S&P/ASX 200 jumped 1.6%, New Zealand's NZX 50 advanced 0.8%, and South Korea's Kospi added 1.3. On Wall Street, Investors sent stocks higher for a second day in a row Thursday, giving a boost the benchmarks.The Dow Jones industrial average rose 36.58, or 0.4 percent, to 9,398.19 after rising 120 Wednesday in response to the Fed's statement.The Standard & Poor's 500 index rose 6.92, or 0.7 percent, to 1,012.73, while the Nasdaq composite index rose 10.63, or 0.5 percent, to 2,009.35. Realty was a major gainer in yesterday's market along with Metals and Auto stocks. IT and Healthcare remained subdued as they had a decent run in the past month. We expect Media and Banking stocks to outperform their peers in today's trade. Food related stocks like Aries Agro and LT Overseas were on fire and there should be some more room in the stocks in this space. We advice investors to use this opportunity to book profits in these stocks. Uttam Galva which made a new 52 week high yesterday is looking strong and we expect this stock to score a century in the coming session. Media stocks might catch fire after news reports suggest that the government has revived the proposal on rationalisation of foreign investment in the broadcasting and telecom sectors. Keep an eye on Dish TV, Adlabs, Bag Films and ENIL which might benefit from this move. The stock of First Source IPO is looking explosive for day trading as the stock has given a positive breakout on huge volumes. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4636 / 4655 / 4680 / 4694 / 4716 NIFTY INDEX Support : 4585 / 4571 / 4564 / 4513 / 4481 Mean : 4610 Key Numbers for NIFTY on upside 4636 / 4680 Key numbers for NIFTY on down side 4585 / 4564 / 4513 BANK NIFTY INDEX Resistance: 7577 / 7682 / 7752 / 7828 BANK NIFTY INDEX Support : 7375 / 7280 / 7186 Mean : 7476 Previous Close Box: BSE Sensex 15518.49 498.33 NSE Nifty 4605.00 147.50 USD Rs.48.14 Oil Nymex $71.09 --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
