BSE Sensex: (14484) we said ‘I would like to watch the crucial support of 14765 and trade long’ the market opened with a bear gap breaking our crucial supports and closed in the negative, the up trend seems to have been compromised but the bar generated is a small ‘star’ capable of giving a bullish gap up move…will it?
We said ‘Technically the market is still in sideways trend with a momentum push up on Friday, so far the Friday action looks to be good but needs some more strength before we can say that we are out of the woods. Wednesday is Holiday and the market is expected to be trading sideways with an Up bias’
The 45-nation Nuclear Suppliers Group (NSG) has approved a US plan to engage in nuclear trade with India. Following the green signal by the NSG that will cement the Indo-US Civil Nuclear Deal, India has finally come out of the 34-year old nuclear apartheid.
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CELESTIAL LABS LTD Trading in BSE & NSE at 40/- in B Group. Target 75/- for short term & 125/- for Long Term. Safe Investment at 40/-.
DLF
CMP: Rs 494.45
Target Price: Rs 425
Suzlon Energy
CMP: Rs 225.45
Target Price: Rs 370
Sesa Goa
CMP: Rs 148.95
Target Price: Rs 145
GAIL (India)
CMP: Rs 416.25
Target Price: Rs 529
According to ICICIdirect.com, the festive season starting next month would help bolster Auto sales.
According to Reliance Money’s Weekly Technical Watch, levels of 4220 and then 4000 on weekly charts will continue to act as a strong support while on higher side levels of 4420 and then levels of 4600 will act as strong hurdle going forward.
Hindalco Industries has forecast tough times ahead with significant rise in production costs of aluminium and poor copper concentrate availability.