Sensex down 833 Points and Nifty fell 263 Points

Market was bearish today.Sensex closed down 833 points at 16,630 while Nifty at 4,857 was down by 263 points. Nifty support is at 4830, 4731, 4668 and 4605 levels & Resistance is at 4928,4991,5054. if Nifty cross 5153 level then after fresh buying will be seen.

Only Stock Market Prediction had predicted Stock Market will crash beween 17th January 2008 and 13th February 2008 on 7th January 2008 in Post When will the stock market crash ?

Stock Market Prediction for 11th February 2008

Market may open down. Market would be volatile & show significant ups and down. Market may down between 09.58 and 10.22. Market may steady or down side between 11.27 and 12.29. Market may close at down or near to previous closing.


Opening Bell Call
Buy
INFOSYSTCH - Infosys Technologies Ltd.
TATAPOWER - Tata Power Co. Ltd.
BHARTIARTL - Bharti Airtel Limited
HINDUNILVR - Hindustan Unilever Limited
RPL - Reliance Petroleum Limited
NEYVELILIG - Neyveli Lignite Corporation Limited
NAGARFERT - Nagarjuna Fertiliser & Chemicals Ltd.

Reliance Power Listing may help market. RPOWER may list at Rs. 440.

Reliance Power Limited IPO Information

Public Issue Open : January 15, 2008 to January 18, 2008
Public Issue Size: 260,000,000 Equity Shares of Rs. 10/- each (228,000,000 for public)
Public Issue Price: Rs. 405/- to Rs. 450/- Per Equity Share
Retail Discount: Rs. 20/- Per Equity Share (Only for Retail Individual Bidders)
Payment Methods:
1. Partial payment option - Rs. 115/- Per Equity Share at the time of bidding
2. Full payment option - Rs. 405/- to Rs. 450/- Per Equity Share
Market Lot: 15 Shares
Minimum Order Quantity: 15 Shares
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
BSE Script Code: 532939
NSE Symbol: RPOWER

Wockhardt withdraws IPO

On Thursday Wockhardt Hospitals Ltd withdrew its Initial Public Offering (IPO) due to Volatile market. The issue was subscribed by a mere 18% on the last day of its closing Thursday. The company plans to refund the entire IPO money within 15 days.

The IPO of 25 million shares opened for subscription initially in the price band of Rs.280 to Rs.310, But thatafter the company cut the price band to Rs.225 to Rs.260 per equity share Feb 5. Reduce the price band was done due to volatile Indian Stock Market and World Stock Market.