Markets Remain Up:Gains 91 Points,Intra Day Calls For Today

17 Apr

Posted by Shyam as IntraDay Calls, Results, Market News

With the good global cues, the Indian markets maintained a good momentum yesterday. The sensex gained about 91 points to close at 16,244 levels and Nifty closed at 4,887 by gaining 8 points. Wipro,Infosys and Reliance Energy were the major gainers among the sensex stocks. There was a good busying in IT and oil specific counters.

I expect the IT sector stocks to remain high for some time. There was also a supporting news from IBM whose Q1 earnings jumped 26% and also the company has given a good outlook for coming days. This will have a strong positive impact on the Indian IT counters also. The US markets have ended higher with Dow and Nasdaq gaining around 2.08% and 2.80% respectively due to better than expected results from some companies.

The crude oil prices are still a concern with oil futures touching the $115 mark/barrel. The Asian markets are also trading huge up with Nikkei-225 up by 2.56% by now. So today also we’ll see a gap up opening in the Indian share markets and hopefully the momentum may be maintained. But towards the end of the day due to profit booking, the markets tend to lose a bit of the gains made during the day.

The star attraction of the Intra Day call made here yesterday was Bombay Dyeing which gained 17% by close and close to 20% intra day. Orchid chemicals also gained 11% due to the news coming in with regards to a possible buy out. HCL was up 6%,RIL was up by 1.5%, IVR prime up by 2.12%. Majority of the calls either ended the day in green or atleast made some hand some gains in intra day trading.

Some Intra day calls for today: Bombay Dyeing(cmp 805), RS software(cmp 31.5), Orchid chemicals(cmp 319), Ceat Ltd(cmp 125), Aptech(cmp 263), Mastek(cmp 364), Onmobile global (cmp 698), Ankur Drugs(cmp 236), aztec Soft(cmp 72.5), IRB infra(cmp 209), GTL Infra(cmp 48), Nagarjuna fertilizers(cmp 41.45).

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4 Responses

Market Software Stock Trading

May 18th, 2008 at 7:26 am
1

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Stock Trading Software

May 20th, 2008 at 7:56 pm
2

How are the indian markets doing overall in light of the tanking that China has been expirancing? I imagine the threat of a US recession must hurt india a lot as well
Shyam

May 25th, 2008 at 11:33 am
3

@ Market Software Stock Trading

Thanks for positive views on my blog.
Shyam

May 25th, 2008 at 11:35 am
4

@Stock Trading Software

Well Indian markets are reacting to global markets all the while,,it will be range bound for another couple of months from here. And then if we have elections sooner than April,,then there may be another fall in the markets.Then the local conditions may prevail. Well theres a lot actually which decides the market movement.