Well yesterday was a day with ups and downs,the share markets opened the day with a positive tone made some handsome gains before slipping into red.At the end of the day because of the profit booking the markets lost 189 points or 1% .The nifty was also down with losing over 81 points.The nifty has a support at 5500 levels and sensex at around 18,700 levels.

It is worth while to see how the markets react to all positive cues from US markets and Asian ones.It was one of the best days for US markets with Dow getting its Biggest 2-day gains in the last 5 years basically due to the expectation of a rate cut coming in soon in Dec by Fed. Reacting to this news Dow and Nasdaq gained 2.55% and 3.18 % respectively.

The IT sector had also made some modest gains in the last week or so,with rupee depreciating over 1.15% when the CNX IT index gained 3.11% in.I -flex gained 11.70 %,Hexaware was up by 7.49%,HCL was up by 5.75% ,TCS by 5.41% in between Nov 21 and Nov 27.Some gains could be made in this scripts but have a 5-6 months target before entering into IT stocks.

Hopefully the market sentiments should be positive today at least with all good news flowing from all directions.A few calls made here yesterday did well which include PVR up by 7%,Jai Asso was up by 4.7%,Nirma up by 4.6%, Sahara housing fin was up 5%,Marg was down by 1%,Deccan Avi was down by 1.7% and GMR was down by 4.43%.We think that this basically due to the fall of over 189 points.

Some long term and short term calls for today:

Long Term

Hindustan Motors cmp 41.5
Maruti cmp 967
Tata Motors cmp 720
Gujarat Alkali cmp 195
Hindalco cmp 184
Nalco cmp 357
Punj Lloyd cmp 456

Short Term

Bhushan Steel cmp 1446
PVR cmp 293
GMR Infra cmp 247
Essar Oil cmp 200
Jindal stain cmp 224
Binani Cement cmp 123
Indian Bank cmp 195
Prakash Indust cmp 218
Ispat Indus cmp 43
IL&FS Invest cmp 257
SKS Logistics cmp 53

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