Tuesday, 17 May 2011

Redbull Trading Market Today - 18.05.2011

Banks look weak as future looks bleak

Nifty might retest 5370 in the coming days, FII selling extends

Wall Street continued to extend the bearish run more inline with Q2 expiry concerns as hot money is pulled out from equities and commodities. Asian markets are trading in green

Markets - Nifty might test 5370 soon

We believe Nifty might touch 5350-5370 levels soon as Bears extend their run. US markets too are going through tough times and it is unlikely to end in the immediate future.Auto stocks might take toll in the coming days as higher interest rates might into sales.SBI stock is due for more correction in the next couple of months as investors digest the numbers. Avoid banking sector too.

Redbull News Bytes

* SBI falls most in 2 years after Q4 earnings plunge
* Prestige Estates FY11 net rises 29% to Rs 167 cr
* Aurobindo gets Aussie nod for CNS, osteoporosis drugs
* Opto Circuits Q4 net up 68% at Rs 111 cr
* Govt forces Reliance Ind to drill 2 wells
* Sensex closes at 8-wk low as SBI slides
* Tata Motors to unveil tippers on Prima platform
* RCF sees FY12 sales up 20-25%, may set up Rs300 cr super phosphate unit


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