Market Analysis – 7/1/09

Archana’s Analysis:  Expect to see gap down opening as market mayhem continues. Satyams fraudulent of Rs 7000 Crore made sensex plunges to 9500 mark down, almost by 750 pts. Global cues are also coming weak and even US market  closed in red. Nifty will open 100pts down and has support at 2850. The other bad news was, Satyam was pulled out from nifty and is being replaced by reliance group. Still more worst things are going to unfold in near future!

market will be close today will resume on friday. Hope it doesn’t turned out to be black friday, again. Reliance group, oil and gas sector will see heavy buying’s.

Market Closing (7^th Jan):

Sensex:   9586.88        -7.25%                                   

Nifty:       2920.40           -6.59%

 

Predictions for todays trading:

Market Opening ( 9^th Jan):                    

Sensex:   9300                                    

Nifty:       2880

Market Closing (9^th Jan):                       

Sensex:  9450                                     

Nifty:       2880

 

Today’s Stock Watch: Reliannce group, Oil and Gas and Banking sector.