SHREE GANESHAY NAMAAH !

Nifty in downtrend, but don't see major fall now: Experts

The Indian markets were down and out in the first half of the session. But a ray of hope from Europe helped improve sentiment. Reports indicate that the European Financial Stability Facility (EFSF) will be allowed to buy bonds in the secondary markets.

The EFSF draft guidelines helped the Nifty bounce off its early lows. But the index still closed with a 50-point cut. The Sensex too recovered from the day's lows to close with a 150-point cut.

The Sensex closed at 16,936.89. The Nifty ended at 5,091.90.

Although experts feel that the Nifty is in a downtrend, but they don’t see a major correction in the near-term.

Past Performance !

Crompton Greav
Buy With SL Of Closing Of Rs. 133, For Tgt Of Rs. 152/159/164, Currently It Close @ Rs. 142.40 !

Gvk Pwer
Buy With SL Of Closing Of Rs. 14, For Tgt Of Rs. 15.50/17/19, Currently It Close @ Rs. 14.45 !

Dhanlaxmi Bank
Dhanlaxmi Bank Can sell with sl of Rs. 73 for tgt of Rs. 58 To Rs. 52, Made Low OF 59.85, Revised SL @ 68 ! Close @ Rs. 64.10 !

Future Expiry Month (2011) : 
Open : 4999.80
High : 5162.00
Low : 4725.55
Close: 5102.85
Avg. : 4997.55

Yearly (2011) : 
Open : 6177.45
High : 6181.05
Low : 4720.00
Close: 5102.85
Avg. : 5545.34

NIFTY FUTURE 

R5 : 5218
R4 : 5182
R3 : 5165
R2 : 5137
R1 : 5118

CMP: 5102.85

S1 : 5080
S2 : 5058
S3 : 5030
S4 : 5002
S5 : 4978

Market Updates : 

Nestle India leads gainers in 'A' group

Bajaj Finserv, HCL Technologies, Apollo Hospitals Enterprise and JSW Ispat Steel are among the other gainers.

FMCG company Nestle India rose 3.46% to Rs 4268.60. The stock topped the gainers in the BSE's 'A' group.

Nestle India's Swiss parent, Nestle SA, on Thursday raised its sales growth outlook for 2011 after price hikes and strong demand in emerging markets helped its underlying sales rise more than expected in the first nine months of 2011.

Financial services company Bajaj Finserv rose 2.84% to Rs 559 after consolidated net profit surged 127.9% to Rs 158.19 crore on 51.6% increase in total income to Rs 714.20 crore in Q2 September 2011 over Q2 September 2010. The result was announced during trading hours on Wednesday, 19 October 2011. The Bajaj Finserv stock was second biggest gainer in 'A' group.

Bajaj Finserv said it recorded strong quarterly numbers on the back of robust performance of its underlying subsidiaries. The company said its life insurance business' profit surged 48% to Rs 295 crore, general insurance business' profit galloped 83% to 64 crore and its subsidiary Bajaj Finance's profit zoomed up 64% to 87 crore in Q2 September 2011 over Q2 September 2010.

IT company HCL Technologies rose 1.88% to Rs 415 on bargain hunting after a recent sell off. The stock was third biggest gainer in 'A' group.

The HCL Technologies stock had plunged 8.58% on Tuesday, 18 October 2011, triggered by disappointing Q1 results. Consolidated net profit as per US accountingstandards fell 2.7% to Rs 496.70 crore on 8.2% increase in revenue to Rs 4651.30 crore in Q1 September 2011 over Q4 June 2011. The company announced results before market hours on Tuesday. The stock, however, rose 1.55% to Rs 407.35 on Wednesday, 19 October 2011, tracking rally in the broader market.

Hospital chain Apollo Hospitals Enterprise rose 1.77% to Rs 513.30. The stock was fourth biggest gainer in 'A' group. The company will declare its Q2 September 2011 results on 4 November 2011.

Steel maker JSW Ispat Steel rose 1.71% to Rs 13.12. The stock was fifth biggest gainer in 'A' group.

Sensex falls below 17,000 as food inflation accelerates

Sensex up 200 points from day's low

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,685 shares fell and 1,080 rose. A total of 128 shares were unchanged. The breadth was much weaker earlier in the day.

From the 30-share Sensex pack, 22 fell and the rest rose.

Steel stocks recovered. Tata Steel rose 1.09% to Rs 438.80, off the day's low of Rs 423.10.

Note : Data From Capital Market And Money Control !

Note : Kindly Trade With Stoploss !