MKT ROUNDUP FOR 24TH MAY 2007

Today mkt settle with with sharp losses with heavy profit booking in most of shares, This is first time that dalal street totally behave in opposite directon that of global indices, though yesterday Dow and Nashdaq finished with hansome gain, today Indian Mkt is down becouse of profit booking. This is very natural as mkt moved up very sharply in recent past, more profit booking cannot denied. Asian mkt mostly also was traded in negative zone today.The BSE 30-share Sensex dipped a sharp 176.83 points to 14,186.43, as per provisional closing.The Sensex had rallied a sharp 525 points, or 3.75%, from 13,929.33 on 15 May 2007 to 14,453.72 on 22 May 2007. Nifty closed 4205 down 41 points.

Why market will trade weak in coming days?
I already told investors if you can get more then 40% returns on ur stock investment you can partially book profit. Mkt may trade weak in coming days, as big IPO is going to hit the mkt, it means lots off mobilisation of funds from secondary mkt to IPO, so retail investors and institutional investors may book profit to get IPO , but this might be temporary, long term investors still can go long.Though the exact date and size of DLF ipo has not yet come out, ICICI bank is also going to hit with IPO, both might mobilised funds around 24000 crs from secondary mkt. DLF might hit in june with 13000 crs IPO.

Highlights of todays market
-Matrix labs zom because of robust qurter and year earning closed at 244 with 11% gain, if you see my 14th may 2007 blog , you will get my detail discussion on matrix labs, stay invested it is great company
-Divis lab as usual come with another strong performace, and news of stock split help it to move up by rs 712 to 4770, keep eye , i will tell when to enter the stock
-reliance cap has not shede much, actually i thought it might come around 900 level , but it shows that stock might move up in coming days
-Bhati and reliance communication both down on second day , but stay invested
-another good share with good fundamentals NTPC move up around 4%, to 161.80 today, this is stock to watch
-dabur ends with flat , on 14th may i hav given buy signal at 90 level , today it ends on 97.95

Coming days guideline-
Mkt will trade lackluster, more profit booking cannot denied, as indicated coming monthe ipo may play a trick to give further dip
Technically, the Sensex has strong support at 14,000 level and on the upside faces a stiff resistance at 14,600 level. Similarly, the Nifty has support of 4,180 on the downside, while on the upside there is a near term resistance at 4,300.

To Mr. Chander- you got both the scrip at fairly valued, Reliance com at 400 i think its good buy, stay invested long term, if stock come below 400 , probability cannot denied try to buy more, 400 seems to be good support stay long in the stock