We again like to recommend IDEA CELLULAR.
Could enter to 50 levels today.
Global markets are up.But we still in a gloomy mood.Volatility could happen through out today,as airlines and hotels could enter in to deep correction.More over november series ends today.Investors could treat this as an oppertunity for bottom fishing but traders please move back.Clueless market,not for speculation.
Indian markets will keep shut ,no trading today.The expiry day has been transfered to friday.
80 people killed and 250 and more wounded in the attacks which happened in late night in our financial capital by Deccan mujahuddien.Gunfire and explosions were heard at the landmark Taj Mahal hotel and thick plumes of smoke rose from the building, witnesses said. There were also explosions at the Oberoi hotel and firing at a hospital where gunmen were surroundedWe express our deep condolences to the affected persons.
Idea and DLF was our tips of 25/11/2008.At that time their position was 46 and 191 respectively.Idea recorded 48.45 yesterday intraday itself and DLF performed today , with a valuable closing of 198.60 means 5% change in two days.
Go for suzlon energy ,good chance to perform.Now it is trading at 40.75 expects to come back to 45 in any time.
Support and resistence
Support at current levels seen.
resistence at 42.20
Idea started with a gain and showed 4.5% gain intraday.But it cant face the heavy selling pressure happened on afternoon and closed in much lower price.Please keep the resistence and support that given by our team, and if you feel it is not breake the resistence or not hold on the supports ,close your possission on the scrip and book your capital.This is because of market is clueless for next two days.
First we like to ask a very sorry. Some technical problem caused us late.
We asked our readers yesterday it self this is not a good market to trade for atleast untill expiry.Huge variations expects for the next two days.Yesterday dowjones closed in positive, it was the third day closed with such a fashion.Dow future is now trading in negatives must set to hear the initial claims numbers tonight.In india we are not much confident untill friday.RBI or CENTRAL GOVERNMENT interference to boost the economy is expects the industries.Like the respected authorities of Japan and U.S done ,india also could take some steps to boost the economy.Be advance rather than wait for the crisis.
Yesterday we asked to buy you DLF AND BALRAMPUR CHINI.The latter perform very well but DLF not started to perform yet.We today ask to go with IDEA ,good chance for 10% rally.
Support and Resistence
Resistence at 49 and support at 44.50.Idea is now trading at 46.
Hang seng up 700 points,Nikkie up 200 points and other asian markets also up.The problem we seen is huge winding up in nifty position through out yesterday.It is very difficult to predict todays market because we are very close to settlement day.We may see a pull back by the global positive news but an investor can not trade on this market as the positive news of one day is negative of another day.Our team looking for 300 or more point closing in sensex and 2800 and above closing in nifty.Otherwise do not trade in this type of market.
Dalal street is with full of rumours about Obama s policies,and market is calculating for a positive outcome.There is a news that he is preventing introduction of wealth tax for the higher community.And with the help of Timmothy geithner he is planning a number of rescue plans to recover the recession and for the future.We can not make a prediction that is these are going to effect or boost the economy.But yesterday s was a relief rally on obama steps and citi bank news.(see yesterday s posts for details)http://dalalsecurities.blogspot.com/2008/11/obama-plans-25-million-jobs.html , http://dalalsecurities.blogspot.com/2008/11/citi-never-sleeps.html
Dow started with gain and moved to 550 gains intraday then in last hour it slide to 8443 with 396 points gains.Nasdaq and s&p500 also surged 87 and 51 points respectively.
On november 20 we predicted that LIC HOUSING FINANCE have good chance to perform and the same script surged 10% on friday intraday trading.Readers who follow our advise must achieved.If you dont beleive please go through the URL given below
http://dalalsecurities.blogspot.com/2008/11/tips.html
Buy Balaram pur chini and DLF.Both are in attractive values could breake it out today itself.
Technicals
resistence of balram pur 33.90 and resistence seen at 40.95.
resistence of DLF at 188.50 and resistence seen at 203.65 and at 230.20
Asia is trading higher, except nikki which remain closed today.Some positive news are in all over world.Citi bank news and obama s announcement helps dow future to trade in positive currently.
We like to trade positive today and nifty technicals are below.
Resistence 2696, this is a major point to watch .You can see a 250 point surge or fall in nifty from this point before the expiry of november series.And if nifty could breake 2971 in coming months it can rally to 3200 and above.For intraday technicals see side bar and have a nice trading day.
Talks still going on between bank officials and federal goverment.Some rumour are there in financial market as government will bear the losses of citi to help to clean the balance sheet of bank.We are still not sure whether government is going to pick stake in the bank in return.The talks Sunday centered on the creation of what is sometimes called a "bad bank" -- an outside entity designed to hold some of a financial firm's worst assets. That structure would help Citigroup cleanse itself of billions of dollars in potentially toxic assets.
Saturday U.S elected president announced his plans to create 2.5 million jobs in coming years.He insisted on basic infrastructure through out of his speech.Obama sees the basic needs as the tool to overcome current crisis and to build the future on it.
He called the plan "big enough to meet the challenges we face" and said that it will jump-start job creation but also "lay the foundation for a strong and growing economy."He cautioned, "There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better." But Obama said Inauguration Day, Jan. 20, "is our chance to begin anew."(Wall street journal ).
Friday Dowjones was in flat trading untill the news flash of- Obama elect Timothy geithner as treasuary head of federal reaserve bank of newyork.Geithner had lead the US response to the deepest financial crisis in seven decades.Dow closed on covering of all losses that happened on thursday s trading and now also futures are trading positively.
Inflation has come down 8.9% for the week ended november from 8.98% of the last week.Inflation for week-ended September 13 has been revised to 12.42% versus 12.14%.
Wholesale price index for all commodities: down 0.2% at 235 (WoW).The inflation details are here
Fuel group: down 0.9% (WoW)
Light and diesel prices: down 11% (WoW)
Furnace oil prices: down 9% (WoW)
Aviation fuel prices: down 5% (WoW)
Citi today is not going to sleep today.Vikram pandit called for a conference call at 8.00 AM.Yesterday the scrip slide 27% and last week it lost 50% of its valuation.Yesterday s fall was worst ever,on the ground of gloomy news.On friday directors will discuss the option of auctioning the full bank or partial.Citi suffers a difficult period as same as ICICI BANK which gone through a month back.And now they seek ban on short selling on securities to securities and exchange commission.
We predicted on yesterday that POWER GRID could touch 66 back and asked our readers to short at 70 levels.If you check the movement of that particular scripts yeaterday the low point was 66.Our success stories seems have no end.
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