makin97 NSETIPS @ RAKESH MAKIN: PREMARKET & INTRADAY CALLS FOR 17.06.2010 THURSDAY

Thursday, June 17, 2010

PREMARKET & INTRADAY CALLS FOR 17.06.2010 THURSDAY

WERE TODAYS SENSEX MOVERS

MARKET ENDED 17.06.2010 THURSDAY

SENSEX 17616.69 +153.82

NIFTY 5274.85 +41.50

NASDAQ 2305.93 +00.05

DJIA 10409.43 +04.69

RS/$ 46.35 +00.38

Indian markets broke out of a narrow range and ended higher Thursday, as traders took note of an upmove in Europe. All the sectoral indices ended in the positive terrain, led by capital goods and oil&gas space.
Bombay Stock Exchange’s Sensex ended at 17616.69, up 153.82 points or 0.88 per cent. The 30-share index hit a high of 17647.42 and low of 17394.90.
National Stock Exchange’s Nifty was at 5274.85, up 41.50 points or 0.79 per cent. The index touched a high of 5285.55 and low of 5206.55.
Nifty has been making higher top higher bottom formation on daily chart, which indicates further upmove towards the recent 52-week high 5400 level. We are in safe zone till the time Nifty sustains above medium term support of 5000 level

The BSE Midcap Index was up 0.41 per cent and BSE Smallcap Index edged 0.58 per cent higher.
Amongst the sectoral indices, BSE Capital Goods Index advanced 1.78 per cent, BSE Oil&gas Index moved 1.33 per cent higher and BSE Auto Index gained 0.93 per cent.
L&T (3.30%), Tata Motors (2.80%), Jaiprakash Associates (2.60%), Reliance Communications (2.30%) and Jindal Steel (2.20%) led the Sensex upmove.
Larsen & Toubro (L&T) will be raising $2 billion for its Rajpura thermal power project in Punjab. India’s largest engineering company will be raising this amount through its special purpose vehicles, Nabha Power Ltd. The state-of-the-art 1,320-mw mega thermal plant is likely to be completed by January 2014.
Jaiprakash Associates has picked up 50 per cent stake in the fertiliser division of Duncans Industries.
All eyes will be on Reliance Industries meeting on Friday as investors will be keen to hear Mukesh Ambani’s plans on entry in telecom, power and healthcare sector.
Losers included Hero Honda (-1.26%), Hindustan Unilever (-1.08%), Tata Steel (-0.68%) and SBI (-0.67%).
Market breadth was positive on the BSE with 1614 advances and 1488 declines.
Elsewhere, European markets extended rally for seventh session and US futures indicated a positive start. At 5 pm IST, Dow Jones futures was up 0.35 per cent, S&P 500 gained 0.37 per cent and Nasdaq 100 climbed 0.357 per cent higher.