indian stock market

Kernex Microsystems India surged 19.93% to Rs 73.70 at 15:30 IST on BSE, on receiving nod for implementation of networking project at Indian Railway. The company made this announcement during trading hours today, 7 November 2008. Meanwhile, the BSE Sensex was up 230.07 points, or 2.36%, to 9,964.29. On BSE, 17,343 shares were traded in the counter. The stock had an average daily volume of 9,937 shares in the past one quarter. The stock hit a high of Rs 73.70 and a low of Rs 57 so far during the day. The stock has a 52-week high of Rs 336.35 on 2 January 2008 and a 52-week low of Rs 50.45 on 27 October 2008. The small-cap stock had underperformed the market over the past one month till 6 November 2008, declining 21.97% as compared to the Sensex�s decline of 17.52%. It had also underperformed the market in the past one quarter, declining 47.19% as compared to the Sensex�s decline of 35.42%. The company�s current equity is Rs 12.50 crore. Face value per share is R

We recommend a buy in Infrastructure Development Finance Company (IDFC) from a short-term trading perspective. It is clearly visible from the charts of IDFC that it has been on a long-term downtrend from its January high of Rs 235 (52-week high) forming lower lows and lower highs. However, the stock recently found support at around Rs 45, a long-term support level (July 2006 bottom) and witnessed sharp rise. We notice that the stock has formed a weekly bullish engulfing candlestick pattern, indicating short-term reversal. Subsequently, on November 3, the stock jumped up 12 per cent with an upward gap penetrating the intermediate-term down trendline (which was in place from May peak) and the 21-day moving average. The daily relative strength index is rising in the neutral region. The moving average convergence and divergence has displayed a positive divergence and signals a buy. Our short-term forecast for the stock is bullish. We anticipate IDFC to move up further until it hits our pri