The Markets turned slaughter-house for the Bears as they were dragged and butchered at the altar of the Bulls, from the minute, the "whistle-blew" heralding the start of the gory fight on the "blood-stained" Dalal Street. Some bears are pardoned on the ground that they would do "Short Covering" before leaving the arena. The slaughter of the Bears gathered momentum yesterday, which began last week. I mentioned in the latest Sunday Report, "Graphically speaking the benchmark indices are still forming a positive divergence pattern on the daily charts. A few of good days accompanied by good volumes would com
plete this pattern, which will increase the chances of an intermediate rally in the Indian bourses. The Sensex has support at the 14,140 level. On the upside, the Sensex faces resistance at the 15,332 and 15,700"---and the result is before your eyes as the bull army jumped above those fences placed at 15, 332 and 15, 700 and charged ahead fiercely. This happened just in front of your eyes and most of you must be delighted....That semi-bald Graph Analyst who who was predicting some nonsense levels only last week (which I protested) was again brought before the viewers (I do not why---may be the said Business Channel might have signed a contract with him earlier and they have to honour that at any cost), who had meanwhile taken a complete U-turn in his prophecies. He must have lost his deposits along with another Hindu-Turned-Catholic analyst from Bombay--I think some day these breed of "confusers" will be wiped out of the ring some day, if they follow ONLY THE CHARTS to predict the future market movements, without understanding the ground realities in any market. It is to be understood "Charts" gives only dead data like the "Balance Sheets" of companies and there is no guarantee: if a set of investors who were holding a stock at a given point of time will behave in a particular fashion in future also. This is because the leadership/ownership in the stocks changes and so also the psychology of the investors holding the scrips at a given point of time. The odds will always be there but one should, "try to minimse them in a given circumstances...Markets will never say, come and invest in me", as rightly pointed out by Mr.Samir Aurora. But , I do admit that Graphs definitely helps an investor/trader to u
nderstand market sentiments to a certain extent at a given point of time---but they have limited applications as mentioned earlier and should never be used "as only tool for investing". And today I saw CNBC anchor Ms. Maria, saying, "People are questioning the efficacy of graphs/charts....":
plete this pattern, which will increase the chances of an intermediate rally in the Indian bourses. The Sensex has support at the 14,140 level. On the upside, the Sensex faces resistance at the 15,332 and 15,700"---and the result is before your eyes as the bull army jumped above those fences placed at 15, 332 and 15, 700 and charged ahead fiercely. This happened just in front of your eyes and most of you must be delighted....That semi-bald Graph Analyst who who was predicting some nonsense levels only last week (which I protested) was again brought before the viewers (I do not why---may be the said Business Channel might have signed a contract with him earlier and they have to honour that at any cost), who had meanwhile taken a complete U-turn in his prophecies. He must have lost his deposits along with another Hindu-Turned-Catholic analyst from Bombay--I think some day these breed of "confusers" will be wiped out of the ring some day, if they follow ONLY THE CHARTS to predict the future market movements, without understanding the ground realities in any market. It is to be understood "Charts" gives only dead data like the "Balance Sheets" of companies and there is no guarantee: if a set of investors who were holding a stock at a given point of time will behave in a particular fashion in future also. This is because the leadership/ownership in the stocks changes and so also the psychology of the investors holding the scrips at a given point of time. The odds will always be there but one should, "try to minimse them in a given circumstances...Markets will never say, come and invest in me", as rightly pointed out by Mr.Samir Aurora. But , I do admit that Graphs definitely helps an investor/trader to u
nderstand market sentiments to a certain extent at a given point of time---but they have limited applications as mentioned earlier and should never be used "as only tool for investing". And today I saw CNBC anchor Ms. Maria, saying, "People are questioning the efficacy of graphs/charts....":
A good point here is that both the Mukherjees on a business channel, is looking better this week, with their takes on the markets and yes they have improved a lot, in the last few days--and we must appreciate that...But I like Nikunj and Namrata Brar's childlike simplicity while speaking on the markets (and everything happening on the Dalal Street), which are many a times spiced-up by the sublte humours of Avik Barman and Anindo Chakraborty......Prashant Nair becoming the sacrificing-bull all the time.....Yes, the combination is deadly and I think this is a sure shot receipe to increase TRP of that Channel: Electrotherm India Ltd recommended at Rs.334.3 in the latest Sunday Report, crossed Rs.400, rising more than 15% yesterday. It was mentioned as a must buy scrip in the Sunday Report. Yesterday (25th March, 2008) in the morning note following message was sent to the Paid Group members," ....Electrotherm Ltd could also rally today and hence keep a .......(what is the hidden part here???).........from Yesterday's close and keep ......"and u saw : This week's "Quickie Calls", K Sera Sera Productions Ltd, Phoenix Intern
ational Ltd and Patel Airtemp Ltd, hit the buyer freeze, yesterday. So this week also Quickie Calls did not disappoint the investors, even in this difficult environment.This week, I have 100% accuracy in hitting the UPPER FREEZES, as far as the Quickie Calls (as all the three hit the buyer freezes) are concerned: Yesterday, it was all a sea of Green with Technology and Banking stocks rocketing ahead. The following note was sent yesterday morning (25th March, 2008) to the Paid Members, "...... But what is significant is that it will lift the sagging sentiments of the Banking sector both in the India and the US. Hence could see a mini-rally unfolding in the banking stocks, starting which could include, SBI, HDFC, Yes Bank, Punjab National Bank, Union Bank of India, Bank of Baroda etc. Another thing which looks good is the performance of the IT stocks in the US and I think it is time that we start to take small positions in Infosys Technologies Ltd, Satyam Computers Ltd, Wipro Ltd, Patni Computers Ltd, FCS Software Ltd, TCS Ltd etc. due to the strength showing in the US economy. But.......(???!!!)........term with .....(???!!!)..... strict ......(???!!). Yesterday another aberration came in S Kumars Ltd due to some unwinding or due to distress selling. One can also buy this stock after.......(??!!).....................scrip"-...-and you saw the results yesterday on the markets: In the latest Sunday Report following lines were sent, "With the liquidity to increase both in the US and in India, I think good times are ahead for the Indian Investors.......Hip!! Hip!! Hurrah!! But not with animal spirits": On last Monday, Manoj Kumar (a Premium Member) from the US was asked to buy Orbit Corporation Ltd when he asked me what to do or whether he should average out or not!! Orbit Corporation Ltd zoomed yesterday: Investors should accumulate Southern Online Bio Technologies Ltd, Tantia Construction Ltd, BOC India Ltd, etc. on all declines. Incidentally yesterday my earlier Recommended, Kohinoor Broadcasting Corporation, Ennore Coke Ltd, Premier Explosives Ltd, GMDC, India Bulls, NEPC India Ltd, Rohit Fero Tech Ltd, Gayatri Projects Ltd, W S Industries Ltd, PNB Guilts Ltd, Kisan Mouldings Ltd, Pochiraju Industries Ltd, Dhoot Industrial Finance, Rathi Ispat Ltd, Vardhaman Industires Ltd, SEL Manufacturing Ltd, Jhunjhunwala Vanaspati, Ritesh Properties....(How many to name) etc. did well yesterday: I do not know why Southern Online Bio Technology Ltd could not hold today when its peer group company IKF Technology Ltd hit the buyer freeze. May be we could see tomorrow higher price on the scrip. The company is doing extremely well and its last quarter results are a proof of that: Monday morning short term cash market (F & O) call, Cipla Ltd reached the targets yesterday and I think most of the paid members booked profit in it as in the Yesterday's morning mail this note was sent, " Today CIPLA Ltd could also move up, but the please look at the targets and try to book profits near the target.............................Please do not wait for the targets to come": So what will be the road map for tomorrow?? How will the markets be played?? What should be there in the Morning Newsletter to the Paid members?? What are levels on Nifty one should follow????!!! How is the latest Housing data in the US going to play on today's (26-03-08) markets???!!! Keep Guessing and come here to see how they performed: Please take part in the Voting as it somewhat gives a cross-section of Investors' sentiments:
ational Ltd and Patel Airtemp Ltd, hit the buyer freeze, yesterday. So this week also Quickie Calls did not disappoint the investors, even in this difficult environment.This week, I have 100% accuracy in hitting the UPPER FREEZES, as far as the Quickie Calls (as all the three hit the buyer freezes) are concerned: Yesterday, it was all a sea of Green with Technology and Banking stocks rocketing ahead. The following note was sent yesterday morning (25th March, 2008) to the Paid Members, "...... But what is significant is that it will lift the sagging sentiments of the Banking sector both in the India and the US. Hence could see a mini-rally unfolding in the banking stocks, starting which could include, SBI, HDFC, Yes Bank, Punjab National Bank, Union Bank of India, Bank of Baroda etc. Another thing which looks good is the performance of the IT stocks in the US and I think it is time that we start to take small positions in Infosys Technologies Ltd, Satyam Computers Ltd, Wipro Ltd, Patni Computers Ltd, FCS Software Ltd, TCS Ltd etc. due to the strength showing in the US economy. But.......(???!!!)........term with .....(???!!!)..... strict ......(???!!). Yesterday another aberration came in S Kumars Ltd due to some unwinding or due to distress selling. One can also buy this stock after.......(??!!).....................scrip"-...-and you saw the results yesterday on the markets: In the latest Sunday Report following lines were sent, "With the liquidity to increase both in the US and in India, I think good times are ahead for the Indian Investors.......Hip!! Hip!! Hurrah!! But not with animal spirits": On last Monday, Manoj Kumar (a Premium Member) from the US was asked to buy Orbit Corporation Ltd when he asked me what to do or whether he should average out or not!! Orbit Corporation Ltd zoomed yesterday: Investors should accumulate Southern Online Bio Technologies Ltd, Tantia Construction Ltd, BOC India Ltd, etc. on all declines. Incidentally yesterday my earlier Recommended, Kohinoor Broadcasting Corporation, Ennore Coke Ltd, Premier Explosives Ltd, GMDC, India Bulls, NEPC India Ltd, Rohit Fero Tech Ltd, Gayatri Projects Ltd, W S Industries Ltd, PNB Guilts Ltd, Kisan Mouldings Ltd, Pochiraju Industries Ltd, Dhoot Industrial Finance, Rathi Ispat Ltd, Vardhaman Industires Ltd, SEL Manufacturing Ltd, Jhunjhunwala Vanaspati, Ritesh Properties....(How many to name) etc. did well yesterday: I do not know why Southern Online Bio Technology Ltd could not hold today when its peer group company IKF Technology Ltd hit the buyer freeze. May be we could see tomorrow higher price on the scrip. The company is doing extremely well and its last quarter results are a proof of that: Monday morning short term cash market (F & O) call, Cipla Ltd reached the targets yesterday and I think most of the paid members booked profit in it as in the Yesterday's morning mail this note was sent, " Today CIPLA Ltd could also move up, but the please look at the targets and try to book profits near the target.............................Please do not wait for the targets to come": So what will be the road map for tomorrow?? How will the markets be played?? What should be there in the Morning Newsletter to the Paid members?? What are levels on Nifty one should follow????!!! How is the latest Housing data in the US going to play on today's (26-03-08) markets???!!! Keep Guessing and come here to see how they performed: Please take part in the Voting as it somewhat gives a cross-section of Investors' sentiments:
[UPDATED]
Intense buying in frontline stocks saw the Sensex breach 16,000 mark today. Buoyancy was visible across the global markets. The rally was triggered by JP Morgan raising Bear Stearns acquisition price by 5 times and US economic data that showed US new home sales had risen 3% in February 2008.
In the domestic front, all the sectoral indices on BSE ended higher. Banking, IT and realty stocks posted impressive gains. Mid-cap and small-cap stocks surged. The market breadth was strong.
In Europe, key indices in UK, France and Germany were up by 2.80% to 3.25%. Most of the Asian indices rallied today. China’s Shanghai Composite, which declined more than 1% earlier, recovered sharply as the session progressed. It ended up 0.09%. Key benchmark indices in Hong Kong, Singapore, South Korea and Japan were up by 1.19% to 5.88%.
The 30-share BSE Sensex rose 928.09 points or 6.07% to 16,217.49, its second biggest single-day rally in points as well as percentage terms. The index gained 972.98 points at session’s high of 16,262.38, hit at the fag end of the trade.
The broader CNX S&P Nifty jumped 267.65 points or 5.81% at 4877.50. Nifty March 2008 futures were at 4901.50, at a premium of 24 points as compared to spot closing of 4877.50.
As per provisional data, foreign funds bought shares worth a net Rs 1246.12 crore today, 25 March 2008. Mutual funds bought shares worth a net Rs 399.97 crore.
The Sensex has gained 9.50% or 1408 points since its recent low of 14809.49 on 17 March 2008. The strong rebound on the domestic bourses is commendable coming in the backdrop of a recent steep fall.
Concerns of marked-to-market losses for firms on their foreign exchange derivatives exposure, meltdown in global markets, lower-than-expected industrial production data for January 2008 and a surge in inflation created havoc on the bourses recently. Hike in short-term capital gains tax and alteration of tax treatment of the Securities Transaction Tax (STT) in Union Budget 2008-09 announced on 29 February 2008 had dented the sentiment earlier.
Coming back to today's trade, the BSE Mid-Cap index outperformed the Sensex, rising 6.36% to 6,174.49. The BSE Small-Cap index underperformed the Sensex, rising 4.81% to 7,284.64.
The market breadth was strong. On BSE, 2075 stocks advanced, 640 declined and 47 stocks were unchanged.
The BSE clocked a turnover of Rs 6836 crore as against Rs 4,682.75 on Monday, 24 March 2008.
The NSE's futures & options (F&O) segment turnover was Rs 66,627.57 crore, which was higher than Rs 42610.26 crore on Monday, 24 March 2008.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 5.16% to Rs 2314.40. The firm is reportedly evaluating a plan to set up its third refinery at Jamnagar in an ambitious project to reach a total capacity of 100 million metric tonne per annum (mmtpa), the largest at a single location in the world.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 3.94% to Rs 3053.
Top Sensex gainers were, Jaiprakash Associates (up 16.38% at Rs 233.10), DLF (up 13.47% at Rs 678.65), Reliance Energy (up 12.97% at Rs 1300.15), Infosys Technologies (up 9.64% at Rs 1492.55) and Housing Development Finance Corporation (up 8.63% at Rs 2589.75).
The BSE Bankex rose 8.10% to 8,371.34. It outperformed the Sensex. Yes Bank (up 20.53% to Rs 172.05), Kotak Mahindra Bank (up 13.36% to Rs 627.80), Oriental Bank of Commerce (up 11.84% to Rs 181.90), Axis Bank (up 10.275 to Rs 792.15) and State Bank of India (up 5.75% to Rs 1,740.20), surged.
India's largest private sector bank by assets ICICI Bank soared 9.37% to Rs 879.95. The bank has reportedly entered into a Rs 1,150-crore equity-cum-debt deal with Jaypee Infratech, a unit of Jaiprakash Associates. The bank has decided to pick up 1% stake in Jaypee Infratech for Rs 250 crore, reports added.
The BSE IT index rose 7.73% to 3,686.35. It outperformed the Sensex. Aptech (up 22.72% to Rs 207.15), Wipro (up 9.02% to Rs 434.70), TCS (up 6.38% to Rs 875.95), Satyam Computer (up 5.10% to Rs 411.05) and HCL Technologies (up 4.34% to Rs 285.95), advanced.
The BSE Realty index rose 9.48% to 7,451.24. It outperformed the Sensex. Housing Development & Infrastructure (up 13.89% to Rs 581.50), Anant Raj Industries (up 13.33% to Rs 230), Mahindra Lifespace Developers (up 9.67% to Rs 390.15), Puravankara Projects (up 9.59% to Rs 187.90) and Indiabulls Real Estate (up 2.91% to Rs 435.30), gained.
Among the side counters, Edelweiss Capital (up 24.24% to Rs 726.45), Indiabulls Financial Services (up 20% to Rs 415.05), Greaves Cotton (up 20% to Rs 216), Orbit Corporation (up 20% to Rs 386.15), Gujarat Mineral Development Corporation (up 19.93% to Rs 286.45) and Reliance Capital (up 17.68% to Rs 1,328.75), surged.
Reliance Natural Resources clocked the highest volume of 2.14 crore shares on BSE. ispat Industries (1.62 crore shares), Essar Oil (1.14 crore shares), Reliance Petroleum (96.33 lakh shares) and IFCI (92.34 lakh shares), these were the other volume toppers on BSE in the order.
Axis Bank registered highest turnover of Rs 603.16 crore on BSE. GSS America (Rs 379.56 crore), Reliance Capital (Rs 303.90 crore), Housing Development Finance Corporation (Rs 246.36 crore) and Essar Oil (Rs 232.46 crore), were the other turnover toppers on BSE in that order.
Chemicals maker GHCL surged 16.28% to Rs 86.80 after the company said it plans to spin off its home textiles and retail businesses into separate units as part of a restructuring plan.
Software firm Prithvi Information Solutions surged 9.69% to Rs 154.50 after the software services firm said its board will consider a share buyback proposal on 31 March 2008.
Steel pipes maker Welspun Gujarat Stahl Rohren jumped 12.93% to Rs 332.35 after the company said it has bagged pipeline orders worth Rs 1,075 crore for the supply of spiral pipes to Northern Africa.
Apparels maker Gokaldas Exports advanced 8.73% to Rs 185 on reports the company has secured an order to supply 2.50 lakh units of sportswear like jumpers, track-suits & vests for the thousands of athletes participating in Beijing Olympics.
Apparels firm Arvind Mills jumped 5.44% to Rs 36.85 after the company said Arvind Brands a division of the company has signed an agreement with Philips-Van Heusen Corporation for designing, distribution & retailing of IZOD brand in India.
Future Capital Holdings, the financial services arm of the Future Group, jumped 7.74% to Rs 589.20 after the company said its board has approved to invest upto Rs 47.75 crore in its subsidiary Future Finmart.
Cement maker Prism Cement soared 9.77% to Rs 42.15 after 14 lakh shares, or 0.47% of the company's equity, changed hands in a block deal on NSE at Rs 39.55 each.
Power equipment maker Jyoti Structures spurted 4.07% to Rs 162.30 after its secured an order worth Rs 160 crore for construction of transmission line and sub-stations in Uganda.
US markets rallied yesterday, 24 March 2008 on the back of a revised offer for Bear Strens. JP Morgan Chase revised its open offer for Bear Strearns to $10 per share from $2 per share. The Dow Jones industrial average surged 187.32 points, or 1.52%, to 12,548.64. The Standard & Poor's 500 index advanced 20.37 points, or 1.53%, to 1,349.88, and the Nasdaq Composite index added 68.64 points, or 3.04%, to 2,326.75. [With inputs from the Internet]
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