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IndianMoneyplus.Com : Last week we saw markets going marginally up after good global cues.
It was one of the most volatile weeks on the bourses with benchmark indices gyrating sharply as profit booking alternated with short covering before the F&O expiry date.  While a big bailout package in which the US Government promised USD 326 billion to Citigroup helped the markets rebound, the buzz that Bank of America could be a potential bailout candidate spooked market participants.

BSE Sensex: (9093) the market had a positive bias as expected but the market has to confirm the up move and that will happen when the market starts to trade above 9236.

We said ‘The market broke the crucial 9631 levels and came down towards the 27th October low but did not violate the 27th October low and closing in the positive indicating strength. The low of 8316 is a good low to work and the next logical target in the days to come would be 10324 and may find some selling pressure in the vicinity of 9635’

MKT FOR COMING WEEK WIL REMAIN VERY VOLATILE SO WATCH THIS LEVEL & THAN DO TAKE UR POSITION SHORT OR LONG
NIFTY CLOSED…2755

FOR MEDIUM TERM BUY BUY BUY
HINDALCO
BSE Code: 500440, CMP: 53.05, Target: 62

Dwarikesh Sugar Ind CMP: Rs 28

It is a mid-sized sugar mfg company with operations across three units in UP. Its capacities for sugarcane crushing stand at 21,500 TCD, distillery at 30 KLPD and cogeneration at 56 MW. Its profitability will come primarily from its 56 MW (saleable) cogen power plants.

Bajaj Hindustan CMP: Rs 41

Revenues are expected to rise by 47.4% QoQ to Rs 676.7 crore on account of higher sugar prices and strong growth in volumes.

India Glycols CMP: Rs 52

It is one of the leading manufacturers of glycols and ethylene oxide derivatives, which cater primarily to industries like textiles, agrochem, oil and gas, detergents and paints.

Investors with a more than a one-year horizon can consider adding the Axis Bank stock to their portfolio.

The bank’s stock has been beaten down amidst concerns about asset quality and a slowdown in advances growth, but we believe these concerns are overdone.

It must have been one of the worst weeks in our nation’s recent history. The nation and the city of Mumbai lived through a long ordeal of terror. As the embers of the smoke dies out the nation will wake up to add up the economic and political costs. In the deafening noise of the gunfire, important data fell by the way side. The second quarter GDP data came in actually better than expected at 7.6%.

The board of Indo Tech Transformers declared an interim dividend at the rate of Rs 8.50 per equity share (85%) for the financial year 2008-09.

Television Eighteen India has decided to subscribe to 15,000,000 warrants of ibn18 Broadcast to be allotted on preferential basis, which would be convertible into equity shares of ibn18 at Rs 102 per share. This allotment shall be made at the same price at which ibn18 has allotted shares to QIBs in its recently concluded QIP.