Stock Market Prediction for 22nd May 2008

Market may open down with hugh gap. Market would be volatile & show significant ups and down. Market may down between 12.00 and12.28. Market may steady or down side between 13.00 and 13.22. Market may close at down to previous closing.



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Opening Bell Call
Buy
RELIANCE - Reliance Industries Ltd
GMRINFRA - GMR Infrastructure Limited
BPCL - Bharat Petroleum Corpn. Ltd
IFCI - IFCI Limited
RANBAXY - Ranbaxy Laboratories Ltd
INFOSYSTCH - Infosys Technologies Ltd.
RELCAPITAL - Reliance Capital Limited


Opening Bell Call
Sell
NTPC - NTPC Limited
WIPRO - Wipro Ltd
HDFC - Housing Development Finance Corporation Ltd.
SESAGOA - Sesa Goa Ltd.
AMBUJACEM - Ambuja Cements Ltd

Technical Analysis for 22nd May 2008

BSE-SENSEX - Major Support - 17192, 17142, 17091, 17016, 16940, 16814, 16688
BSE-SENSEX - Major Resistance - 17268, 17343, 17394, 17444, 17570, 17696

NSE-NIFTY - Major Support - 5100, 5082, 5065, 5039, 5013, 4969, 4926, 4882
NSE-NIFTY - Major Resistance - 5126, 5152, 5169, 5187, 5230, 5274, 5317

Stock Market Prediction for 21st May 2008

Market may open down. Market would be volatile & show significant ups and down. Market may down between 12.08 and12.35. Market may steady or down side between 13.11 and 13.34. Market may close at down to previous closing.



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Opening Bell Call
Buy
RELIANCE - Reliance Industries Ltd
RPOWER - Reliance Power Limited
LT - Larsen & Toubro Limited
MUNDRAPORT - Mundra Port and Special Economic Zone Limited
TATAMOTORS - Tata Motors Limited


Opening Bell Call
Sell
HDFCBANK - HDFC Bank Ltd
BHARTIARTL - Bharti Airtel Limited
CIPLA - Cipla Ltd.
DIVISLAB - Divi's Laboratories Limited
BHEL - Bharat Heavy Electricals Ltd
DRREDDY - Dr. Reddy's Laboratories Ltd.

Technical Analysis for 21st May 2008

BSE-SENSEX - Major Support - 17183, 17121, 17067, 17013, 16897, 16782
BSE-SENSEX - Major Resistance - 17244, 17298, 17352, 17414, 17475, 17590

NSE-NIFTY - Major Support - 5088, 5064, 5044, 5024, 4980, 4936, 4892
NSE-NIFTY - Major Resistance - 5112, 5132, 5152, 5176, 5200, 5244, 5288

Rupee falls to 13-month low against dollar

The spot rupee reached a fresh 13-month low of 42.90 against the dollar following heavy purchase of the US currency by oil companies and banks but recovered to close at 42.51. The rupee-dollar exchange rate of 42.91 is the lowest since April 12, 2007. Friday's close meant that this week, the rupee dropped 2.2 per cent against the dollar, after a 2.3 per cent fall last week. In 2008, the rupee has depreciated 7.6 per cent, with only the South Korean Won and Thai Baht seeing a steeper decline among the major Asian currencies.

The Indian currency has been depreciating on fears of further rise in global crude prices. The worry is that the oil price rise will result in a higher import bill and widen the trade deficit further.