Crude Oil Shocks US:Intra Day Calls For May 22

22 May

Posted by Shyam as IntraDay Calls

After a lot of action yesterday the Indian markets some how recovered from the initial losses and closed the day just higher by 13 points. Well a bigger drama is unfolding with crude oil prices touching $135/barrel. The Dow and Nasdaq suffered a loss of about 1.77% each in yesterday’s trade. The Asian markets are also looking very weak with Nikkei losing about 1.18% by now and Hang Seng already down by 2.3%. Can the Indian share markets do something which happened yesterday and close atleast flat today? Lets wait and watch.

Some intra day calls for today: Praj Industries(cmp 218),Gujurat NRE coke(cmp 159), Chambal fertilizers(cmp 82),Lanco Infratech(cmp 584),Essar oil(cmp 261), Hindustan Oil Exploration(cmp 155),National Aluminium(cmp 538),Bombay Dyeing(cmp 1019), Tata chemicals(cmp 399), Punj Lloyd(cmp 352).

ShareMaster

May 22nd, 2008 at 11:04 am
1

It’s certainly a little crazy in the markets at the moment.
Oil Will Kill The Growth

May 24th, 2008 at 8:04 pm
2

If one looks beyond intra-day movements, it is clear that oil is putting a lot of pressure on world markets.

both Sensex and Nifty have failed to remain above their 200 day EMA.

we may see a sharp fall in the markets in days to come.
Shyam

May 25th, 2008 at 11:41 am
3

@Oil Will Kill The Growth

Well now the crude oil has touched 135$/barrel already and we may expect it to go to 150$/barrel soon.Yes the markets are trading around the 200 day moving average. We cant predict anything like that so easily.Lets wait and watch how the markets react to all this.