Daily Call - Oct 22 2008

The markets are likely to be in a consolidation mood after yesterday’s surge, despite weakening of the Asian markets. While the key US indices posted moderate losses, better results from Apple and Yahoo cheered the Nasdaq After Hours Market. But with Samsung bowing out of the offer to acquire SanDisk could neutralize the fervor generated by Apple.


Dupont’s weak guidance could marginally affect Reliance, where we saw surge in prices on account of short covering. IT stocks like Oracle could be bought at declines. Do not read too much into the Norwegian Fund news. If the markets do rise discounting this news, book profits

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