Wednesday 30 April 2008

MARKET VIEW 30 APRIL 2008

Hello Readers,

Today FED meet in U.S. to discuss interest rates, we expect 25 bps cut.

RBI came out with Monetarty policy & hiked CRR by 25bps, Markets expected a hike in repo rate too but RBI surprised everyone by not hiking the same, this was highly +ve for mkts & we saw the same results yesterday.

Also markets managed to close above 200 DMA on such volatile day which is 17400 for Sensex & 5150 Nifty.

We would like to continue with our previous recomendations & would like to trail stop losses to ur long positions. Book profits in markets once you get 10% or 15% or even higher returns.

Nifty close 5195.5
Supports : 5150, 5125 , 5080
Resistances : 5210, 5225, 5250

Yesterday we have asked our sms group members to BUY HDIL @ 735 WITH SL 700 & TG 800 - 825+, MADE HIGH OF 780 YESTERDAY ITSELF, one can check out our website http://www.smsgupshup.com/groups/AlliesFin for more details of our sms alert services

MARKETS WILL BE CLOSED ON THURSDAY 1 MAY 2008 ON ACCOUNT OF MAHARASHTRA DAY.

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*News Headlines from Business News Agencies :* *Business Standard :* ITPCL debt: NCLAT rejects SBI's objection on liquidation value ...