Winning Strokes: Think Different:

Sensex pares losses; Bharti, RIL, Tata Motors up. Correction which started merely on some apprehensions after the RBI's credit policy, seems to be over as of now, as the market is preparing for a winter rally to begin soon or at most from 1st-2nd week of November, 2009.

There is good news in the Real Estate and Bankng sector as well: RBI's provisioning hike may not up loan rates for realty companies much. Based on this premise, in the morning investors were asked to buy Dena Bank Ltd. Later Buy calls were given in case of Rolta Ltd, Northgate Technologies Ltd, Sanguine Media Services Ltd, etc.

The bears will starts to vanish as soon as the Nifty starts trading above 4920--4930 ranges.

The crude oil is all set to cross $92 barrels within a very short time as the dollar cannot remain strong with this condition of the US economy. It is to be noted that commodity prices have inverse co-relation with dollar index.

Also the fact that SAT has nailed the notorious stock broker/trader Shankar Sharma is positive for the Stock Market, especially for the BULLS. But then still he is a favourite lover boy of our Indian business channels.

MUMBAI: Benchmarks were off intra-day lows Wednesday as buying emerged at lower levels ahead of October series F&O expiry. Stocks from oil&gas and capital goods led the recovery while banks and realty continued to reel under pressure.

“The breakout happened yesterday on what is called a pattern breakaway/runaway gap thus confirming further downsides in store. The daily momentum too remains firmly in red expect Sensex to target 14000-14100 in coming months,” said Emkay Global Financial Services.

At 12 pm, Bombay Stock Exchange’s Sensex was at 16,303.60, down 49.80 points or 0.30 per cent. The index touched an intra-day high of 16335.78 and low of 16144.17 .

National Stock Exchange’s Nifty was at 4832.95, down 13.75 points or 0.28 p

er cent. Earlier in the day, the index had breached 4800 mark to touch a low of 4784.10. It touched a high of 4848.55 in trade so far.

BSE Midcap Index was up 0.01 per cent and BSE Smallcap Index slipped 0.32 per cent.

Amongst the sectoral indices, BSE Oil&gas Index was up 1.16 per cent and BSE Capital Goods Index moved 0.87 per cent higher.

BSE Bankex declined 1.86 per cent, BSE Realty Index fell 1.49 per cent and BSE Metal Index slipped 0.54 per cent.

Bharti Airtel (4.17%), Tata Motors (3.15%), Larsen & Toubro (2.64%), Wipro (2.31%) and Reliance Industries (2.25%) were amongst the top Sensex gainers.

ICICI Bank (-2.76%), Tata Steel (-2.75%), State Bank of India (-2.22%), Sterlite Industries (-2.03%) and Sun Pharmaceuticals (-2.02%) were the top index losers.

Market breadth was negative on the BSE with 1455 declines and 956 advances.