Today, bulls gained control from bears over trading action. Growth of existing cheerful sentiment on Tuesday is likely to insert other stocks in their support. In contrast, bearish sentiment on Tuesday is expected to modify the current reaction.
According to technical analyst, Vishwas Agarwal that the Indian stocks soared up today accompanying the Fed Reserve’s assessment to slash discount rate by 50 basis points to alleviate the affect of US sub-prime lending situation, but political disruptions over N-deal is constraining fresh buying in the market.
The market is projected to act in line with international markets, guessed Agarwal. At the moment, the stock market is ruled by reaction rather than fundamental principles or techniques.
Motilal Oswal is coming up with a Public Issue to raise Rs 246 crore by selling its 29,82,710 shares with face value of Rs 5 each through 100% book building process. The price band of the IPO is Rs 725-825 per share. The issue will close on Thursday.
Orbit Corporation has seen a big move in the early trades in Stock Markets. The stock was quoting at Rs 466, up Rs 33.90 on the Nifty. Orbit Corp. has gained almost 8 % from its close on Friday. It has seen an intraday high of Rs 473.40. Markets can expect good upmove from these levels. Due to renewed buying interest in the counter, the trading volumes are also high.
Indian stocks turned down for the third day, with the key index witness its 
