The markets saw a very good trading session on Friday after a good recovery in US markets of around 110 points in Dow. The Fed bailout to AIG for $80 billion and pumping of billions of dollars into the financial system has led to the recovery. The Indian markets reacted positively to all these developments and sensex climbed by 727 points or 5.46% to close at 14,042 levels and Nifty jumped by 207 points or 4.88% to close at 4,245 levels.

Most of the stocks made a smart recovery on Friday.Its a very good time to enter the markets again and invest for medium term perspective. On Friday too DOW and Nasdaq made good gains in the range of 3.35% and 3.40% respectively. Dow is now at 11,388 levels which is a good sign as it almost touched 10,700 levels last week. So we can expect a good trading session tomorrow if no more bad news comes in. Nikkei-225 and Hang Seng are also on a come back mode for now.

But over all the situation in the financial markets are not so good. We can expect nifty to trade in between 3,600 and 4,500 in the next 7-8 months period. Market expert Rakesh Jhunjhunwala expects that nifty should not test July lows again. Lets hope this comes true and we do not see such bad times in the market again in the coming days.

Some intra day calls for Sept 21st include :Akruti City(Rs 910), satyam Computers(Rs 370),ICICI bank(Rs 628),Infosys(Rs 1625), NTPC(Rs 183),DLF(Rs 428). All are basically buy calls with strict stop losses. Good luck and happy trading.


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