The markets brought some sort of cheerfulness in the faces of the Indian traders today. As predicted here in the last post, the Indian markets opened huge gap today. On the back of good global cues the Indian markets gained a lot and sensex shut shop at 14,109 levels gaining a massive 520 points. It had lost 323 points in the last trading session.Nifty gained 160 points to close at 4276 levels.

The crucial levels of 4200 needs to be sustained so that nifty rallies from here on. So on a sustained basis the nifty should close above 4,200 levels a few times. 14,000 levels are also back in the sensex. Most of the stocks opened gap up today with gains ranging from 5-8%. Meanwhile another positive news which came in is that the finance minister has said that the new budget will try to over come the financial downturn soon. The new budget will be presented in the first week of July and will be approved by July end.

Now the US markets are fluctuating after the home sales data came in.Dow is marginally down while Nasdaq is marginally up. So we can expect a quite trading session tomorrow. Here are some intra day tips for Mar 28th 2009:

Bharat Forge

Buy   Above  177 Target 181, 184 Stop Loss : 173

Short Sell Below 169 Target 165, 162 Stop Loss:173

India Infoline

Buy   Above  146 Target 151, 154 Stop Loss : 142

Short Sell Below 138 Target 134, 133 Stop Loss:141

Jai Prakash Hydro

Buy   Above  68 Target 71, 73 Stop Loss :65

Short Sell Below 64 Target 62, 61 Stop Loss: 66

Trade with strict stop loss values.

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