NIFTY FUTURES (F & O)
Hurdle at 4460 level. Above this level
, expect relief rally up to 4497-4499 zone by non-stop.Support at 4416 & 4427 levels.
Do remember that, bulls need to protect 4377-4379 zone on down side. If not, then fall may continue.
On Positive Side, rallies up to 4534-4536
zone can be used to sell. Stop Loss is too far on upper side and can be placed at 4620-4622 zone.Short-Term Investors:
Short-Term Upward Target at 4657-4659 zone.
Short-Term Support at at 4340-4342 zone.
BHEL is planning to investment of over Rs. 100 bn in the next four years to ramp up capacity to meeting the growing electricity needs. (ET)
Sun Pharmaceuticals got the US Federal Trade Commission approval for the open offer made by it to shareholders of Israeli firm Taro. (BS)
Idea Cellular deferred its open offer for an additional 20% stake in Spice Communications following a delay in approval for the same from the market regulator SEBI. (ET)
Economic and Political Headline
Inflation soared to a fresh 13-year high of 12.44% for the week ended August 2, on the back of rising food and fuel prices. (ET)
The Finance Minister said that India would meet its fiscal deficit target for 2008/09 despite the pay increase for government workers. (ET)
The US inflation soared to 5.6% from a year earlier in July, led by gains in food, energy, airline fares and apparel. (WSJ)
MPHASIS (NSE Cash): Likely to Zoom.
If crosses & sustains at above 236 level then uptrend may continue.
Support at 216 level. Should not be allowed to break at any cost.
INFOSYS FUTURES (NSE): Likely to Zoom.
If crosses & sustains at above 1791 level then uptrend may
continue.
Support at 1685 level. Should not be allowed to break at any cost.
The Dow Jones Industrial Average closed at 11,659.90. Up by 43.97 points.
The Broader S&P 500 closed at 1,298.20. Up by 5.26 points.
The Nasdaq Composite Index closed at 2,452.52. Down by 1.15 points.
The partially convertible rupee ended at 43.01/02 per dollar on Thursday, weaker
than Wednesday's close of 42.65/66.
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Avoid Short Selling in PSU INDEX Stocks
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Strong & Weak futures
This is list of 10 Strong Future Stocks:
Polaris, AIA Eng,Aptech Training, Cummins, India Infoline, Triveni, Kpit, Strides Arco, Ansal Infra and Gail.
And this is the list of 10 Weak stocks
; NDTV,Bombay Dyeing,Amtek auto, HDIL, Aban, Rcom, Sterlig Bio, IDFC ,S Kumars and Hindalco.
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