Fund Opens On : March 01,2007
Fund Closes On : March 12,2007
Minimum subscription : Rs.20,000
Face Value : Rs.100/-
Listing Stock Exchange : NSE
Fund Lists On : March 26,2007
Entry Load : 2.25 %
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Today is the big day and we have extremely negative global cues. US markets are down asia is down from 3 to 6 percent. Emerging markets have also closed in deep red. We expect a major gap down opening may be between 3 to 5 percent down. The budget will be presented at 11 A.M. and if some good announcements are made only then we can expect a recovery otherwise the markets may plunge further.
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The shares of Power Finance Corporation were listed today at Rs. 113 as compared to its issue price of Rs. 85 per share. The Stock made a high of 119.40 and a low of 105.55 during the trading session.
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The markets are looking weak, go short in the morning. NIFTY is expected to fall below 4000 levels today and may be below 3950 as well. FIIs and domestic funds are selling ahead of budged and no market friendly announcement is likely in the budged. The markets seem to have entered in a short term down trend now. Sectors like Real Estate, Banking, Automobiles and Cement are looking vulnerable. Ride the downtrend to make profits.
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Both Nasdaq and Dow Jones have closed in the green and Governor of Bank of Japan has recommended a 25 bps hike in interest rates. No signifiacant global cues to react. Our markets had a sharp knock yesterday and NIFTY closed near 4100, its strong support level. Today the markets are expected to remain range bound in the wake of Expiry of futures contracts on thursday and budget. NIFTY should trade in the range of 4075 to 4140 for the day.
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The markets are expected to remain volatile till the budget. In the wake of flat global cues much is not expected in the market. We recommend going short in the morning if the market opens weak and one may remain short during the day as some sell off and rollover of positions in Derivatives market is expected. NIFTY has a good support ar 4130 levels and if breached it may fall upto 4100 levels which will act as a strong support level.
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Salient Features
Issue Opens On : February 20,2007
Issue Closes On : February 26,2007
Issue Size : 41,00,000 Equity Shares
Issue Type : Book Building
Face Value : Rs.10/-
Price Range : Rs.95/- to Rs.110/-
Tick Size : Re.1/-
Market Lot : 60
Posted in IPO | No Comments »
The markets are expected to remain rangebound today and NIFTY will have stiff resistance placed at 4175. If this resistance is taken out successfully then the markets may rally upto 4205. Real Estate, Infrastructure and sugar space is looking good. Try to wind long positions in case NIFTY is not able to cross 4175 decisively.
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Salient Features
Issue Opens On : February 23, 2007
Issue Closes On : February 27, 2007
Issue Size : 28,04,000 Equity Shares
Issue Type : Book Building
Face Value : Rs.10/-
Price Range : Rs. 360/- to Rs. 395/-
Tick Size : Re.1
Market Lot : 15
Posted in IPO | No Comments »
The markets have consolidated during the week. A pullback is now overdue, we expect the markets to bounce back today as 4000 levels on NIFTY have served as good support.
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