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).

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3 Responses

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.