daily reports 29/05/2008

MAKE MORE-DAILY 29.05.2008
(MAKE MONEY: A PRODUCT OF MANSUKH RESEARCH)
Market Report:
The S&P CNX Nifty was up 58.55 points or 1.20% at 4918.35.
Nifty May 2008 futures were at 4934, a premium of 15.65 points
against the spot closing. The market, which moved between
positive and negative zone in early trade, surged in the second
half of the trading session led by rally in information technology
and cement stocks. A sharp fall in crude oil prices and firm
European markets also added to positive sentiments. However,
capital goods stocks witnessed selling pressure.
The rally on the bourses gathered steam after the Finance Ministry
said in afternoon trade, some media reports about new tax
proposals to help ease mounting losses at state oil firms due to
soaring crude prices were totally baseless. Media reports on
Tuesday, 27 May 2008, had suggested that the government may
levy a cess or surcharge on income tax and corporate tax to
compensate it for losses due to any duty reduction on crude oil
and motor fuels. The reports had weighed on the stock market that
day.
The 30-share BSE Sensex rose 249.78 points or 1.53% at
16,525.37. The NSE's futures & options (F&O) segment turnover
was at Rs 56333.67 crore, higher than Rs 49968.5 crore on
Monday, 26 May 2008. BSE clocked a turnover of Rs 5390 crore in the cash segment as against
Rs 5,108.54 crore on Tuesday, 27 May 2008. Oil prices dropped below $127 a barrel today, 28
May 2008, in Asia, extending a decline of more than $3 in the previous session on a growing
sense that soaring prices have cut demand for gasoline and other fuel. Oil has been falling
steadily every since it hit a record high $135.09 last week.
Asian markets were mixed today, 28 May 2008. Key indices in Hong Kong, Japan, South Korea
and Taiwan were down by 0.13% to 1.32%. However, China’s Shanghai Composite (up 2.48%),
and Singapore’s Straits Times (up 0.56%), rose. European markets, which opened after Indian
market, were trading higher. Key indices in France, Germany and UK were up by 0.43% to
1.51%. US markets advanced yesterday, 28 May 2008, led by technology companies and further
drop in crude oil prices. The Dow Jones industrial average advanced 68.72 points, or 0.55%, to
12,548.35. The S&P 500 index gained 9.42 points, or 0.68%, to 1,385.35, and the Nasdaq
Composite index surged 36.57 points, or 1.50%, to 2,481.24.
The BSE Mid-Cap index rose 1.12% to 6,753.53 and BSE Small-Cap index rose 0.33% to
8,237.09. Both the indices underperformed the Sensex.
India’s largest private sector bank by assets ICICI Bank rose 0.94% at Rs 820.20. Chambal
Fertilisers & Chemicals clocked the highest turnover of Rs 291.49 crore on BSE. Bajaj Finserve
(Rs 235.93 crore), Reliance Industries (Rs 190.18 crore), Reliance Capital (Rs 165.28 crore) and
Reliance Power (Rs 131.39 crore), were the other turnover toppers on BSE in that order.
Visa Steel gained 1.86% to Rs 60.15 on reporting 3129% surge in net profit to Rs 20.99 crore on
78% increase in total income to Rs 259.66 crore in Q4 March 2008 over Q4 March 2007
MARKET CLOSED MAY 28, 2008 16:00:08 HOURS
IST
INDEX CURRENT PREV. %CHANGE
S&P CNX NIFTY 4918.35 4859.80 1.20%
CNX NIFTY
JUNIOR 8278.85 8112.50 2.05%
CNX IT 4614.95 4490.20 2.78%
BANK NIFTY 6780.90 6593.95 2.84%
CNX 100 4713.60 4652.15 1.32%
S&P CNX DEFTY 3980.40 3923.65 1.45%
S&P CNX 500 3991.50 3944.20 1.20%
CNX MIDCAP 6577.60 6522.05 0.85%
NIFTY MIDCAP 50 2601.95 2564.10 1.48%
NIFTY:
Mansukh view: NIFTY is taking support at 4850 is looking to consolidate in 5000-4800 range. Global
economic conditions and high crude prices aremaking thingsworse for themarkets. Fear of another bout
of fiscal measures to reign in the inflation may prohibit the market to start a firmupmove.Global factors
will be the key drivers of the Indian market. Indicators too are looking bearish for immediate term.
ONGC:
Mansukh view: ONGC is looking weak and further lower levels are likely in near term. Traders
can remain short .TSI is generating bearish signals. 1280 is near term support.
CAIRN:
MANSUKH VIEW: CAIRN is likely to succumb further under bear pressure which could
see the oil counter slide upto 275/260 level support.
GESHIPPING:
MANSUKH VIEW: GE SHIPPING is looking to test higher levels of 530/550 on the upside
in near term.Traders can remain invested.TSI too is looking bullish.
GDL:
MANSUKH VIEWS: GDL is looking all set to test lower levels in near term.92 level can be
seen in coming trading sessions. TSI ,the indicator is looking bearish.
HINDALCO:
MANSUKH VIEWS: HINDALCO looks all set to test slightly higher levels of 206. Traders
can remain long in near term. Indicator is looking weak.
INFOSYS:
MANSUKH VIEWS: INFOSYS is looking firm and could see 2000/2100 in coming trading
days. Traders can remain long for further upside.
DISCLAIMER: This Daily Newsletter is an expression of research team as done by Mansukh
Securities & Finance Ltd. It is neither a market prediction nor an advisory or suggestion to buy
or sell any types of securities or investment. This is an educational and learning exercise, only
to share with investors our method of analysis. Trading and Investing MUST always be done
with prudent money management and use of stop losses. One bad trade can ruin the trader,
so always keep risk low.
FOR MORE DETAILS PLEASE LOG ON TO OUR WEB SITE: www.moneysukh.com
FOR ANY QUERY, SUGGESTION AND FEEDBACK WRITE TO
Mr. Vishwesh Chandra shrivastav: vishwesh@moneysukh.com
Mr.Gagan Sharma:gagansharma@moneysukh.com
Mr. Salman Khan:salmankhan@moneysukh.com
Mr. Shah Nawaj: shahnawaj@moneysukh.com
CONTACT NO: 011--32502192.

Website

Hi everyone. Please visit www.moneysukh.com for more details.