Pre Market Report - 08 march 2011

Libya Overhang continues, Oil holds above $105

Crude Oil is likely to dent severe blow to Auto stocks on the second consecutive day as Asian stocks recover from Monday's sell-off. Overnight Wall Street closed weak as Gold hits a new high.

News Bytes

* UTV to sell stake in Indiagames for Rs 220 crore

* Andhra Bank says govt to raise stake to 58%

* Govt to infuse Rs 1,740 cr in Oriental Bank

* PTC India Fin Services Rs 450-cr IPO in March

* NTPC may lose five captive coal mines

* Insecticides buys Nocil's brand Monocil

* Hotel Leela to sell 15% stake to raise funds

* Lanco to invest Rs4,000 crore in Griffin mines

* Gold hits record Rs 21,420; silver at 31-yr high

Markets - Nifty might test 5400 again

As per the data Nifty might re-test 5400 levels again. While we continue to be bullish for the month of March, it is ideal for traders to take the case on a day to-day basis as global issues weigh in.

Our team of analysts have outrightly confirmed that this is the market to trade index futures and options and stock specific approach is really tough and might not yeild better results.

It is a volatile market and traders do need expert guidance as lot depends on sentiment too. We were spot on in our Nifty Futures analysis on a daily basis from the past 3-4 trading sessions. When in doubt we stay out as our analysts do the number crunching part of the game.

Important Rules For Trading

☆ Always do your analysis before trading ☆ Always have a clear and reasonable idea of your objective ☆ Never trade on emotions or other people's forecasts ☆ Buy at support and sell at resistance ☆ Always trade with "STOP LOSS" ☆ Never hold a losing position over night ☆ Never add to a losing position ☆ Never risk more than 5% of your trading capital on one trade ☆ Take responsibility for your own trades ☆ If you are breaking any rules ***STOP TRADING*** Because you are out of control ☆