The Reliance of Mukesh Ambani has created history by pumping oil as India’s first private sector deep sea crude oil exploration from D-6 block at KG basin with a rate of 5,500 barrels per day. Reliance is selling the oil from D6 to HPCL's refinery at Visakhapatnam on spot basis. Where as his younger brother’s most valued RCOM lost market capitalization and its 10th position was given to LT in the list of top most valued companies by market cap.
The markets of Asia are trading in narrow band to take a side, so is our Nifty. The SGX Nifty is trading at 4335 level with a plus of 30 odd points. The Nifty has the initial resistance at 4339-45 level and the support existing at 4148-51 level as first support and the best can be expected at 4119-16 level.
The RIL news can save the day from a steep collapse; the RIL has support at 2015 and at 2000 level, the resistance can be expected at 2125-20 level and a move beyond will confirm the initial up trend. The ICICI bank is strong so long it trades above 609-07 level. The reality sector may face selling pressure as the fears looming large due these financial crisis.
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
Monday, September 22, 2008
Sunday, September 21, 2008
The worst or bad…..
The financial markets worst may be over but the bad news continues to flow as days pass by. The markets surprisingly closed in positive note on week on week basis. The Monday to Friday turmoil is strictly specified to US and we swing in tune as we are associated.
The Nifty though touched a low of 3800 level but did not trade but took the advantage of buying at the bottom to scale up to 4300 level. This clearly suggests that the markets have some strength given the conditions.
The US turmoil will affect the software companies by 4-6 months but opened the doors of opportunities for next 3-4 years. This advantage will be used by the big tags.
The best opportunity once existed in the retail and office spaces, the real estate markets in India will take longer time than estimated and the days ahead are boom to doom. The billionaires club may replace the names of Indians in this sector with the owners of alternative energy and commodity traders in steel, copper and aluminum.
The new wealth creators likely to emerge from the companies engaged in Natural resources exploration be it oil, gas, mining of coal, copper, iron ore and those engaged in trading of these resources. The companies engaged in infrastructure development now in pipe line construction for gas transportation and city gas distribution, the port and air port construction companies will benefit the most in India.
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
The Nifty though touched a low of 3800 level but did not trade but took the advantage of buying at the bottom to scale up to 4300 level. This clearly suggests that the markets have some strength given the conditions.
The US turmoil will affect the software companies by 4-6 months but opened the doors of opportunities for next 3-4 years. This advantage will be used by the big tags.
The best opportunity once existed in the retail and office spaces, the real estate markets in India will take longer time than estimated and the days ahead are boom to doom. The billionaires club may replace the names of Indians in this sector with the owners of alternative energy and commodity traders in steel, copper and aluminum.
The new wealth creators likely to emerge from the companies engaged in Natural resources exploration be it oil, gas, mining of coal, copper, iron ore and those engaged in trading of these resources. The companies engaged in infrastructure development now in pipe line construction for gas transportation and city gas distribution, the port and air port construction companies will benefit the most in India.
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
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