Stock Market Prediction for 7th August 2008

Market may open up. Market may up between 10.34 and 10.54. Market may steady or up side between 11.45 and 12.07. Market may close at down to previous closing.




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Opening Bell Call
Buy

AXISBANK - Axis Bank Limited
DLF - DLF Limited
NIITTECH - NIIT Technologies Limited
ELECON - Elecon Engineering Co Ltd
IFCI - IFCI Limited
RNRL - Reliance Natural Resources Limited

On 6th August 2008 - The BSE Sensex closed at 15,073 (up 112 points) while the NSE Nifty closed at 4,517 (up 14 points).

Opening Bell Call
Sell

NDTV - New Delhi Television Limited
I-FLEX - I-Flex Solutions Limited
NAGARCONST - Nagarjuna Construction Co. Ltd
PRAJIND - Praj Industries Ltd
ROLTA - Rolta India Ltd.
RELINFRA - Reliance Infrastructure Limited

Technical Analysis for 7th August 2008

BSE-SENSEX - Major Support - 15176, 15054, 14931, 14860, 14789, 14596, 14402, 14209
BSE-SENSEX - Major Resistance - 15247, 15318, 15441, 15563, 15757, 15950, 16144

NSE-NIFTY - Major Support - 4545, 4510, 4475, 4454, 4433, 4377, 4321, 4265
NSE-NIFTY - Major Resistance - 4566, 4587, 4622, 4687, 4622, 4657, 4713, 4769

Reliance Money and National Multi-Commodity Exchange (NMCE) plan agri spot exchange

Reliance Money and National Multi-Commodity Exchange (NMCE) will set up a spot exchange for agricultural products.

The spot exchange, National Agriculture Produce Marketing Co of India Ltd (National APMC Ltd), is likely to start electronic spot trading in agricultural commodities later this year in Gujarat and Rajasthan, the two companies said in a statement. The electronic spot trading will allow producers to get the best possible price for their commodity, said Sudip Bandyopadhyay, chief executive of Reliance Money.

India's other national-level commodity exchanges such as National Commodity and Derivatives Exchange (NCDEX) and Multi-Commodity Exchange (MCX) have also set up spot exchanges. NCDEX Spot Exchange Ltd, a wholly-owned subsidiary of the NCDEX, launched spot trading in December 2007, while MCX's National Spot Exchange plans to start operations this month.

The new National APMC Ltd is planning to reach out to all the 7,500 Agricultural Produce Marketing Committees (APMCs) across the country over the next one year, said Kailash Gupta, managing director of NMCE. Reliance Money, a unit of financial services company Reliance Capital Ltd, is planning to acquire 26 percent stake in NMCE, the Ahmedabad-based commodity exchange. NMCE, the oldest of India's three national-level commodity derivatives exchanges, accounts for 0.7 percent of the total commodity futures trade turnover in 2007, government data showed.

Stock Market Prediction for 6th August 2008

Market may open up with hugh gap. Market may up between 10.00 and 10.27. Market may steady or up side between 12.05 and 12.22. Market may close at up to previous closing.




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Opening Bell Call
Buy

RELIANCE - Reliance Industries Ltd
NTPC - NTPC Limited
RNRL - Reliance Natural Resources Limited
MARUTI - Maruti Suzuki India Limited
IFCI - IFCI Limited
IDEA - Idea Cellular Limited
CIPLA - Cipla Ltd.
HDFC - Housing Development Finance Corporation Ltd.

On 5th August 2008 - The BSE Sensex closed at 14,961 (up 383 points) while the NSE Nifty closed at 4,502 (up 107 points).

Opening Bell Call
Sell

APTECHT - Aptech Limited
DCB - Development Credit Bank Limited
SIEMENS - Siemens Ltd
BALRAMCHIN - Balrampur Chini Mills Ltd
PARSVNATH - Parsvnath Developers Limited
NAGARCONST - Nagarjuna Construction Co. Ltd

Technical Analysis for 6th August 2008

BSE-SENSEX - Major Support - 14825, 14745, 14664, 14516, 14368, 14139, 13911, 13682
BSE-SENSEX - Major Resistance - 14973, 15121, 15202, 15282, 15510, 15739, 15967, 16196

NSE-NIFTY - Major Support - 4464, 4439, 4413, 4369, 4325, 4255, 4186, 4116
NSE-NIFTY - Major Resistance - 4508, 4552, 4578, 4603, 4672, 4742, 4811, 4881