Stock Market Prediction for 14th May 2008

Market may open down. Market would be volatile & show significant ups and down. Market may up between 10.30 and10.45. Market may steady or up side between 13.10 and 13.35. Market may close at down to previous closing.



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Opening Bell Call
Buy

Do not buy anything. Exit all long position.

Opening Bell Call
Sell
RELIANCE - Reliance Industries Ltd
BHEL - Bharat Heavy Electricals Ltd
HDFC - Housing Development Finance Corporation Ltd.
DENABANK - Dena Bank
PANTALOONR - Pantaloon Retail (India) Ltd.
RENUKA - Shree Renuka Sugars Limited
RPL - Reliance Petroleum Limited
DRREDDY - Dr. Reddy's Laboratories Ltd.

Technical Analysis for 14th May 2008

BSE-SENSEX - Major Support - 16724, 16604, 16530, 16456, 16262, 16068, 15874
BSE-SENSEX - Major Resistance - 16918, 16992, 17112, 17232, 17426, 17620, 17814

NSE-NIFTY - Major Support - 4950, 4911, 4888, 4865, 4804, 4742, 4681
NSE-NIFTY - Major Resistance - 4988, 5011, 5034, 5073, 5111, 5173, 5234

Stock Market Prediction for 13th May 2008

Market may open up. Market would be volatile & show significant ups and down. Market may up between 10.12 and10.25. Market may steady or up side between 12.07 and 12.28. Market may close at up to previous closing.



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Opening Bell Call
Buy
RELIANCE - Reliance Industries Ltd
RANBAXY - Ranbaxy Laboratories Ltd
POLARIS - Polaris Software Lab Limited
GVKPIL - GVK Power & Infrastructure Limited
IFCI - IFCI Limited
RELCAPITAL - Reliance Capital Limited
NTPC - NTPC Limited

Opening Bell Call
Sell
RELIANCE - Reliance Industries Ltd
RPL - Reliance Petroleum Limited
HDFCBANK - HDFC Bank Ltd
HINDUNILVR - Hindustan Unilever Limited
LT - Larsen & Toubro Limited
HEROHONDA - Hero Honda Motors Ltd.
NAGARCONST - Nagarjuna Construction Co. Ltd

Technical Analysis for 13th May 2008

BSE-SENSEX - Major Support - 16766, 16701, 16636, 16524, 16412, 16235
BSE-SENSEX - Major Resistance - 16878, 16990, 17055, 17120, 17297, 17474

NSE-NIFTY - Major Support - 4982, 4962, 4943, 4908, 4874, 4820, 4766
NSE-NIFTY - Major Resistance - 5016, 5051, 5070, 5090, 5144, 5198, 5252

Great Offshore acquires SeaDragon for $1.4 bn

Great Offshore is set to acquire Cayman Islands-based SeaDragon Offshore for $1.4 billion. The acquisition will help the company to make ultra deep water discoveries. Great Offshore Managing Director Vijay Sheth said that diligence was moving rapidly and hopes to close the deal in one or two months, but refused to confirm the name of the firm. However, SeaDragon Offshore Chairman Stephen Baird said that both are okay with the deal but are waiting for their bankers' nod to seal the deal.

SeaDragon would give Great Offshore access to rigs that could be deployed for ultra deep water discoveries. SeaDragon makes two such rigs and it would take two years to complete them. Globally, there is a greater demand for rigs because of an increase in exploration activities. For the next two years; there is no rig that could be deployed for ultra deep water discovery. It may be noted that ONGC also plans to foray into ultra deep water discovery.