Calls :-) 7 August , 2007

IS THE CORRECTION OVER ???????????????????

YES IF U FOLLOW CHARTS THEN U CAN TEL THT. ALSO THE WORLD MARKETS ARE SUPPORTING. THE MARKETS BOUNCED FROM OUR SUPPORTS ABV 14650 & BOUNCED FROM 14700 LVLS. AS MENTIONED FOR NIFTY 4300 IS VERY GOOD SUPPORT & YES IT MANAGED TO CLOSE ABV 4300 LVLS & CLOSED AT 4340 LVLS.

THIS IS A GOOD SIGN FOR MARKETS & UNTILL NIFTY MANAGES TO CLOSE ABV 4300 THE MARKETS SHOULD CONSOLIDATE AT THESE LVLS FOR ANY STRONG MOVE UPSIDE.

NIFTY CLOSE : 4340
SUPPORTS : 4300
REISITANCES : 4365 , 4390 , 4405 , 4425 , 4440

BET ON RELIANCE PACK. ENGG STOCKS.

GOOD DAY, HAPPY INVESTING

MARKET COMMENTRY ( UPDATED IN LIVE MARKETS ):-)

TAKING CUES FROM THE GLOBAL MARKETS THE MARKETS OPENED FIRM & OPENED UP AROUND 150 POINTS +. RELIANCE PACK SHOWED STRENGTH YESTERDAY.
TODAY BANKING STOCKS SHOWING STRENGTH & ITS TO BE BELIEVED THT SBI TO COME AROUND 2500 BY YEARS TIME & DEMERGER STORY TOO.

IFCI ONE OF THE GR8 GAINERS HAS ROSE FROM RS 50 TO RS 67 TODAY & STIL MORE TO COME.

OUR POSITIONAL CALLS DOING WELL & IN SHORT TERM WE BELIEVE THT MARKETS SHOULD CONSOLIDATE AT THESE LVLS FOR ANY STRONG MOVE UPSIDE.

STOCK SPECIFIC ACTIVITY LOOKS BETTER.

MAJOR NEWS -

Wipro has signed a agreement to acquire Nasdaq listed Infocrossing IT infrastructure management services firm at $600ml. -

Bharti Enterprise and Wal Mart signed agreement to set up 50:50 joint venture cash and carry business. -

Punj Lloyd has secured a Rs. 5.90bn contract from Bharat Oman Refineries. -

The Madras High Court dismissed Novartis's application on Glivec, a cancer drug, challenging the constitutional validity of section 3(d) in the Indian Patents Act, which prevents patenting of minor modifications to products and processes.

Tata Consultancy Services has stated that over 100-150 deals are expected to be in the offing in the financial services space over the next 12 months ranging from $5ml to $200ml. -

Tata Steel has raised $725ml thru the issue of foreign currency convertible alternative reference securities. The convsersion price is Rs. 876.6225 per share, which is higher by 35% from current level.

Today US Fed policy committee to meet to decide on interest rate. Investors widely expect the Fed to hold pat for the ninth consecutive meeting.

EX-DIVIDEND TODAY : Borax Morarji (Rs 2.2), Castrol India (Rs 4.5), Ferro Alloys (Rs 0.15), Godrej Consumer Products (Rs 0.75) and Hindustan Unilever (Rs 3).