Hold a low profile

News Flash

REJIG AT JSPL: RS SHARMA, FORMER CMD, NTPC TO JOIN JINDAL POWER AS THE MD: SRCS
TVS MOTOR TO NDTV: SEE 5% MKT SHARE & ANNUAL VOLUMES OF 3,00,000 UNITS BY 2013-14 IN INDONESIA
COTTON EXPORTS: INDIA TO LIMIT COTTON EXPORTS TO 5.5 MN BALES FROM OCT 1
RUPEE AT CLOSE: RUPEE CLOSES AT 46.63/$ VS 46.71/$ ON SEPTEMBER 2
ROUBINI: ECB POLICY SHOULD BE LOOSER; SUPPORT WEAKER EURO
U.S. ECO DATA: AUGUST NON-FARM PAYROLLS DOWN 54,000 VS CONSENSUS OF 1,05,000
U.S. ECO DATA: AUGUST UNEMPLOYMENT RATE RISES TO 9.6% VS 9.5% IN JULY
FUND ACTION: FOREIGN FUNDS NET BUY `147.90 CR ($31.62 MN) IN EQUITIES ON SEPT 2
FUND ACTION: MUTUAL FUNDS NET BUY `19.5 CR IN EQUITIES ON SEPTEMBER 2
FUND ACTION: DOMESTIC FUNDS NET SELL `123.5 CR IN EQUITIES ON SEPTEMBER 3 (PROVISIONAL)
FUND ACTION: FOREIGN FUNDS NET BUY `283.02 CR IN EQUITIES ON SEPTEMBER 3 (PROVISIONAL)
BOC INDIA: STARTS COMMERCIAL PRODUCTION AT THE DEHRADUN UNIT
NMDC: IN TALKS TO BUY STAKE IN ZIMBABWE ROCK PHOSPHATE MINE
BASF: BOARD TO CONSIDER MERGER OF UNITS WITH THE CO ON SEPTEMBER 9
NATCO PHARMA: CELGENE PLANNING COMPLAINT AGAINST NATCO PHARMA ALLEGING INFRINGEMENT
NTPC: MAY SET UP 1320 MW COAL-BASED POWER PLANT IN B'DESH IN JV WITH BPDB
ANANT RAJ INDS: ACQUIRES JUBILANT SOFTWARE SERVICE FOR `81 CR
MARKETS THIS WEEK: SMALLCAPS: EIH ASSOC HOTELS UP 62.4%, VINDHYA TELELINKS UP 42.6%
MARKETS THIS WEEK: MIDCAPS: UNITED BREWERIES UP 30.5%, KEC INTL UP 15.4%, NIRMA UP 14.3%
MARKETS THIS WEEK: NIFTY: BHARTI UP 7.5%, RANBAXY UP 7.2%, TATA STEEL UP 6%, UNITECH UP 5.3%
MARKETS THIS WEEK: FMCG INDEX UP 3.16%, BSE REALTY INDEX UP 3.05%, AUTO INDEX UP 2.96%
MARKETS THIS WEEK: CNX MIDCAP INDEX UP 1.84%, BSE SMALLCAP INDEX UP 2.75%
MARKETS THIS WEEK: SENSEX CLOSES UP 1.17%, NIFTY UP 1.26% FOR THE WEEK
TVS MOTOR TO NDTV: TO SET UP AN ENGINE PLANT & DESIGN CENTRE IN INDONESIA POST 2011
BAJAJ FINSERV: SEBI NOD AWAITED FOR MF BIZ; TO START OPS IN 9 MONTHS FROM APPROVAL
TATA STEEL: MAY SELL $1-1.5 BN IN BONDS WITHIN THE NEXT YEAR TO REPAY PORTION OF LOANS
TATA STEEL: CO PLANS TO REFINANCE AS MUCH AS $6.5 BN LONG TERM DEBT: CFO
TATA STEEL: SBI MAY ARRANGE GBP 1 BN OVER THE NEXT 7 YEARS
TATA STEEL: IN TALKS WITH BANKS FOR GBP 3.5 BN ($5.4 BN) IN LOANS FOR ITS U.K. UNIT
CIPLA: TO GIVE DETAILS OF POSSIBLE AFRICAN INVESTMENT IN 45 DAYS

Updated: 27/01/2010 | 12:37 PM IST

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Hold a low profile

Mandar Jamsandekar

Wednesday, January 27, 2010 (New Delhi)

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In the previous week, the markets continued to remain weak taking cues from the earlier week. The last day of the week saw the markets pull back from the lows. The levels from the where the markets bounced back on Friday will play a crucial role for the coming week. If these levels are broken then expect the indices to fall further down by 3 per cent to 5 per cent. The build-up of positions seems to suggest that the mood for the next few days could be weak to volatile.

Watch levels of 16608 as immediate support for the Sensex and 4954 for the Nifty. On the higher side resistance comes in @ 16978 for the Sensex and 5065 for the Nifty. Most of the stocks seem to be in a consolidation mode and so would be the markets in all. Hold a low profile.