The Sensex has strong resistance at 17636 and 17735, Market's Look weak with the greenback getting stronger in comparison to other currencies.
The Euro fell on Friday for the third session in a row accumulating a decline of 230 pips.
EUR/USD failed to consolidate above 1.3800 and weakened erasing early gains and finished the week with an important decline. The pair had the first weekly close below 1.3550 in ten months.
“The EUR may be vulnerable widening of yield and growth differential as rumors are circulating that the Fed hiked the discount rate before the next policy meeting in April. EUR traded to the days lows pressured by report that India hiked interest rates”
Nifty has resistance at 5293
It is possible that we might witness a crash in the markets with high selling pressure.
Short selling high beta value stock's would be risky and highly profitable.
List of High beta value stock's are mentioned below.
DLF LIMITED 1.56
HINDALCO INDUSTRIES LTD 1.32
ICICI BANK LTD. 1.50
JAIPRAKASH ASSOCIATES LIMITED 1.58
RELIANCE INFRASTRUCTURE LTD 1.45
TATA STEEL LIMITED. 1.46
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Stock Picks For 22 march 2010
JB CHEM PHARMA buy with stop loss of Rs.69.00
JSL Buy with a target of Rs.110
SUNFLAG buy with stop loss of Rs.30.80
SUZLON (Buy)
IOC (Buy)
IOB (Buy)
Golden Tobacco (Buy with a target of Rs.133)
FDC (Buy)
ETC entertainment (Buy)
DEWANHOUS (buy only above Rs.203)
AUTOIND buy above Rs.118 only
CREWBOS (Buy)
buy Advanta (Intraday only)
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