Sensex makes another attempt at 15,000 mark Stock market indices on Dalal Street are likely to open higher after falling more than 1.5 percent on Wednesday. The Sensex will make another attempt to close above 15,000 mark. Expect the benchmark index to gain more than 200 points as selling pressure might abate after three days of volatility.
On Wall Street, stock extended a streak of erratic trading Wednesday, rebounding from early losses and rising moderately after a drop in oil inventories lifted hopes for an economic recovery. The Dow Jones industrials rose 61.22, or 0.7 percent, to 9,279.16. The Standard & Poor's 500 index rose 6.79, or 0.7 percent, to 996.46, while the Nasdaq composite index rose 13.32, or 0.7 percent, to 1,969.24. Oil and Gas stocks were hard hit after oil plunged yesterday. This is our favorite sector for the day as the price of oil spiked today. Oil closed above $72 a barrel on Wednesday after data suggested a recovery in U.S. oil demand, which came as a surprise. Watch out for stocks like Cairn Energy, ONGC and Oil exploration space. As expected lot of second rung stocks were in the limelight. Megasoft and Sonata Software were beneficiaries of demand in the midcap IT stocks. Telecom related stocks like Take Solutions, Tulip Telecom were locked in upper circuit on heavy volumes. Traders could also look at power sector as the sector might be in focus with Adani Power on the deck to list on the bourses today on BSE and NSE. We expect the stock trade in a band of Rs 130 - Rs 140. GVK Power at Rs 46 is our favorite in this space. We like Pharma names like Venus Remedies ahead of the quarterly numbers and last but not the least Panacea Biotech at RS 174 looks attractive after bagging Rs 1,000 order from UNICEF. A stock worth looking at even in an uncertain market. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4471 / 4502 / 4523 / 4564 / 4585 NIFTY INDEX Support : 4457 / 4424 / 4387 / 4374 / 4348 / 4313 Mean : 4464 Key Numbers for NIFTY on upside ----- Key numbers for NIFTY on down side ----- BANK NIFTY INDEX Resistance: 7291 / 7383 / 7469 / 7563 BANK NIFTY INDEX Support : 7102 / 6991 / 6881 / 6773 Mean : 7196.5 Previous Close Box: BSE Sensex 14809.64 -225.62 NSE Nifty 4394.10 -64.80 USD Rs.48.74 Oil Nymex $72.18 --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
