Newsletter 14 Oct 2008
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Visit us at www.moneymantrastock.com
October 14, 2008
The Asian markets closed mixed while European markets were Market Watch on 13 Oct 2008 trading smart. For the Indian market, it was a strong pullback rally and a good day of trade. Sensex closed at 11332, up 804 points and Nifty at 3490, up 210 points from the previous close. BSE Midcap index was up 5.77% and BSE Smallcap index was up 3.85%. All sectoral indices were in the positive. BSE Bankex index up 12.5%, BSE Power index and BSE Realty index both up 9% and BSE IT index up 8%. The market breadth was positive with advances at 966 against declines of 323 on the NSE. Top Nifty gainers included Reliance Communications, ICICI Bank and Reliance Infrastructure while losers included Ranbaxy and Sun Pharma. The global equity crisis may not last long as most of the Govt has stepped out for buying stakes in banks which will create much required liquidity. At the same time the much hyped GOLD rally could end and huge selling may come in this yellow metal in coming months. The overall liquidity crisis has also affected the Diwali offtake which may find further set back in gold demand. There were 27 countries which are going through this difficult phase of liquidity crisis. Even one or two comes in open to pledge their gold reserves could spark excess supply in GOLD. As such those who are long in Gold can't see the reversal. Even rupee has made bottom formation between 49 and 50 and could rise back to 46 or 47 levels very fast. Some remittances could help rupee rise faster than anticipated. In fact, one of the wire media carried a report couple of days back that there could big outflow from Swiss bank to Indian shores because of the lack of faith in any western bank, howsoever strong it could be. The same report indicated that Indian money lying in swiss accounts could be as high as 1.45 triilion usd. If this is true and even 1% is back in India it could be 15 bn usd which is a huge inflow to set right the capital markets at least in India. In any case, with crr rate already cut by 1.5% and expected interest rate cut of 1% the growth will re surface. Yet there is always a choice left with the investor which side he has to be. He has also option to remain in the class of assets which he likes.
Market Watch: 14 October 2008 Nifty: Nifty main trend still favor bears. It has support@ 3500/3220/3150. On the other hand it will face resistance near 3510/3670. Some short has been seen which may become a continuous fact but that is subject to the happenings around the globe. Any how markets will plunge further below the level of 3200, Until then we may travel till the resistance levels. S2 S1 Pivot R1 R2 3298.60 3394.60 3452.40 3548.40 3606.20 Sensex: Main trend remains down. Support will come near 10840/10240 levels. It may test resistance, which are like to come around 11410/12935. If Sensex breaks below 10240, then further downside will be the case
Money Mantra Financial Focus
-1-
Visit us at www.moneymantrastock.com
October 14, 2008
SBI: SBI show good momentum in this weak market now it time to bright again. We rec BTST also now next target should be 1580/1600 in short term. Once it crosses 1535 level advised to take more position. Maruti: The stock is showing some strength at this point in time. It may test 750 levels in the near future. Traders can remain long.
Money Mantra Research Positional Calls for Short Term Sr.
Stock
Action
Rec Price
Stoploss
Target
Holding Remarket
1. 2.
LITL EQ BHEL Fut
Buy Buy
For members 1522-1530 For members only
2-3 days 2-3 days Strict on Stoploss
NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis. MOM = momentum call.
Date
Script
Intraday calls Performance : 13 Oct 2008 Type Rec Target Stoploss Remark Price
13-Oct-08 13-Oct-08 13-Oct-08 13-Oct-08 13-Oct-08
Buy Axis Bank Buy ICICI bank Buy SBI Buy Suzlon Buy Maruti
Fut Fut Fut Fut EQ
600 415 1435 102 708
13-Oct-08
Buy LITL
Eq
Delivery Delight 176 Holding for short term still carry on.
Date 13-Oct-08 13-Oct-08
Script BTST Axis BTST SBI
Type Fut Fut
Rec 656 1490
612/635 428/445 1450/1465 98 715/720
592 406 1418 108 702
High 674 Achieved up 15% High 453 Achieved High 1535 Achieved High 110 Achieved High 727 Achieved
BTST/STBT CALLS : Target Remark 665/675 Closing @ 673 1520/1535 Achieved Same Day
Profit/Loss Profit: 4,000 + Profit: 5,900 +
Contact us: For any Query Contact us + (91) – 99289-77488; + (91) – 98292-85781 (From 10:00 AM to 10:00 PM) Email Support: [email protected] Yahoo Support: [email protected]
To know more about our products and services click here. Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actions. The information and views contained herein are believed to be reliable but no responsibility or liability is accepted for errors of fact or opinion. Editors may or may not have trading or investment positions in the securities mentioned herein.
Money Mantra Financial Focus
-2-
October 14, 2008
The Asian markets closed mixed while European markets were Market Watch on 13 Oct 2008 trading smart. For the Indian market, it was a strong pullback rally and a good day of trade. Sensex closed at 11332, up 804 points and Nifty at 3490, up 210 points from the previous close. BSE Midcap index was up 5.77% and BSE Smallcap index was up 3.85%. All sectoral indices were in the positive. BSE Bankex index up 12.5%, BSE Power index and BSE Realty index both up 9% and BSE IT index up 8%. The market breadth was positive with advances at 966 against declines of 323 on the NSE. Top Nifty gainers included Reliance Communications, ICICI Bank and Reliance Infrastructure while losers included Ranbaxy and Sun Pharma. The global equity crisis may not last long as most of the Govt has stepped out for buying stakes in banks which will create much required liquidity. At the same time the much hyped GOLD rally could end and huge selling may come in this yellow metal in coming months. The overall liquidity crisis has also affected the Diwali offtake which may find further set back in gold demand. There were 27 countries which are going through this difficult phase of liquidity crisis. Even one or two comes in open to pledge their gold reserves could spark excess supply in GOLD. As such those who are long in Gold can't see the reversal. Even rupee has made bottom formation between 49 and 50 and could rise back to 46 or 47 levels very fast. Some remittances could help rupee rise faster than anticipated. In fact, one of the wire media carried a report couple of days back that there could big outflow from Swiss bank to Indian shores because of the lack of faith in any western bank, howsoever strong it could be. The same report indicated that Indian money lying in swiss accounts could be as high as 1.45 triilion usd. If this is true and even 1% is back in India it could be 15 bn usd which is a huge inflow to set right the capital markets at least in India. In any case, with crr rate already cut by 1.5% and expected interest rate cut of 1% the growth will re surface. Yet there is always a choice left with the investor which side he has to be. He has also option to remain in the class of assets which he likes.
Market Watch: 14 October 2008 Nifty: Nifty main trend still favor bears. It has support@ 3500/3220/3150. On the other hand it will face resistance near 3510/3670. Some short has been seen which may become a continuous fact but that is subject to the happenings around the globe. Any how markets will plunge further below the level of 3200, Until then we may travel till the resistance levels. S2 S1 Pivot R1 R2 3298.60 3394.60 3452.40 3548.40 3606.20 Sensex: Main trend remains down. Support will come near 10840/10240 levels. It may test resistance, which are like to come around 11410/12935. If Sensex breaks below 10240, then further downside will be the case
Money Mantra Financial Focus
-1-
Visit us at www.moneymantrastock.com
October 14, 2008
SBI: SBI show good momentum in this weak market now it time to bright again. We rec BTST also now next target should be 1580/1600 in short term. Once it crosses 1535 level advised to take more position. Maruti: The stock is showing some strength at this point in time. It may test 750 levels in the near future. Traders can remain long.
Money Mantra Research Positional Calls for Short Term Sr.
Stock
Action
Rec Price
Stoploss
Target
Holding Remarket
1. 2.
LITL EQ BHEL Fut
Buy Buy
For members 1522-1530 For members only
2-3 days 2-3 days Strict on Stoploss
NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis. MOM = momentum call.
Date
Script
Intraday calls Performance : 13 Oct 2008 Type Rec Target Stoploss Remark Price
13-Oct-08 13-Oct-08 13-Oct-08 13-Oct-08 13-Oct-08
Buy Axis Bank Buy ICICI bank Buy SBI Buy Suzlon Buy Maruti
Fut Fut Fut Fut EQ
600 415 1435 102 708
13-Oct-08
Buy LITL
Eq
Delivery Delight 176 Holding for short term still carry on.
Date 13-Oct-08 13-Oct-08
Script BTST Axis BTST SBI
Type Fut Fut
Rec 656 1490
612/635 428/445 1450/1465 98 715/720
592 406 1418 108 702
High 674 Achieved up 15% High 453 Achieved High 1535 Achieved High 110 Achieved High 727 Achieved
BTST/STBT CALLS : Target Remark 665/675 Closing @ 673 1520/1535 Achieved Same Day
Profit/Loss Profit: 4,000 + Profit: 5,900 +
Contact us: For any Query Contact us + (91) – 99289-77488; + (91) – 98292-85781 (From 10:00 AM to 10:00 PM) Email Support: [email protected] Yahoo Support: [email protected]
To know more about our products and services click here. Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actions. The information and views contained herein are believed to be reliable but no responsibility or liability is accepted for errors of fact or opinion. Editors may or may not have trading or investment positions in the securities mentioned herein.
Money Mantra Financial Focus
-2-
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