Wednesday, August 27, 2008

Headlines for the day

Corporate News Headline

TCS received a multi-million dollar contract from Singapore Airlines Cargo for a five-year period. (ET)
BHEL bagged order worth Rs. 1.4 bn for supplying two gas turbine generating units of 42 MW each to International Energy Resources, a UAE-based. (BS) SAIL would set up a Steel Processing Unit in Gwalior at an investment of Rs. 830 mn to meet the rising demand of the the product. (ET)

Economic and Political Headline

The steel exports fell 25% to 2.75 MT in the first four months of the fiscal year that began in April after the government imposed a tax on overseas sales in May. (ET) The Prime Minister Manmohan Singh said that the Eleventh Five-Year Plan was basically a knowledge investment plan and the government´s effort has been to create the next big wave of investment in higher education. (BS) The US Consumer confidence index rose to 56.9 from 51.9 in July as cheaper gasoline improved Americans´ moods and National Home Price Index posted a record 15.4% decline in home prices in the second quarter from a year earlier. (Bloomberg)

sell index

sell nifty more
NIFTY FUT: If downtrend continues then it will fall up to 4278.00-4280.00 zone. Rallies up to 4319.45 can be used to sell. SL at 4371.75 level.


POSITIONAL TRADERS
NEAR 3430-3450,SHORT EDUCOMP AGAIN.CARRY OTHER SHORTS/PUTS.SHORT TCS TGT 808,790.SHORT INFOSYS TGT 1660,1620.SHORT ITC TGT 180,176.SHORT SBI TGT 1335,1300.
CASH MKT
Cash Market Intra-Day: RNRL (NSE Cash CMP 94.65) going down. Sentiment may favour and Buy with a Stop Loss of 93.65 level.

now sell @ 4336! 1st tgt achieved
NIFTY FUT: If downtrend continues then it will fall up to 4295.45-4297.45 zone. Rallies up to 4336.85 can be used to sell. SL at 4371.75 level.
Cash Market Intra-Day: FSL (NSE Cash CMP 46.65) going down. Sell with a Stop Loss of 47.65 level. SMS
NIFTY FUT: Sell with a Stop Loss of 4371.75 level. Target at 4321.60-4323.60 zone. SMS sent at 09.59 AM.

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