Indian Stock Markets opened weak and NSE Nifty touched a low of 4975 in first 10 minutes of trade. NSE Nifty opened at 5120.55 slightly above last close of 5120.35 and touched a high of 5126. The index witnessed a sudden fall and touched a low of 4975. At 10.07 a.m. was down by 87 points or 1.65 %. There was some recovery as buying in some select counters at lower level helped markets to gain some points.

The markets were very volatile and day traders should stay away from markets. If someone wants to trade in this volatile market, the exposure should be less and we will suggest trading in delivery segment only.
Major losers among blue chips were Reliance Industries, HDFC, Reliance Energy and Tata Power.

Pharmaceutical major Ranbaxy was trading in positive. The stock gained over 1 percent. Satyam Computers was also among gainers. The stock was marginally up at Rs 412. Technology counters were major gainers on Friday.

VSNL was up by nearly 5%. VSNL may soon sell land in four metro cities. The land sale may help VSNL to raise over Rs. 10,000 crore.

There are many stocks which are looking interesting at lower levels. Torrent Power is a good stock in power sector. The stock is currently available within 158 – 162 range. The stock looks good for long term investment.