Power Grid Corporation of India Ltd – FPO opening from 9th November ’10

Power Grid has come up with its Follow on Public Offer. This offer is open for subscription between 9th and 12th of November 2010. The price band is decided at Rs. 85 and Rs.90.

Issue Open: 09/11/2010
Issue Close:12/11/2010
Issue Size (Shares):84, 17, 68, 246 shares
Issue Size (Rs.):7155.03 Crores to 7575.92 Crores
Price Band:Rs. 85 to Rs. 90
Face Value:Rs.10
Bid Size: 65

FOR THE WEEK (08-12, Nov 2010 )

FOR THE WEEK: The immediate resistance levels for the Sensex and Nifty are at 21206-21250-21300 and 6357-6380-6400, respectively, while the support level is at 21000-20850-20700 and 6300-6280-6250. Any move close to the resistance levels can be used to book partial profits and initiate fresh positional long positions only if the Sensex manages to sustain above its resistance levels with strict stop losses.

FOR THE DAY (08-11-2010)

FOR THE DAY: Domestic markets are likely to open on a positive note, taking cues from the positive US and strong Asian indices. Traders are advised to trade long in Nifty above 6320 levels, else from 6300 with a stop loss at 6280 levels, targeting higher levels of 6360 and 6380.

Today’s Levels (08-11-2010)

(Last Close : Sensex 21005 : Nifty Spot 6312)
Today’s Levels
Trade long if Sensex sustains above 21005 (Nifty 6312)
[Upside targets/resistances at 21109(6338)/21206(6357) or higher]
Trade short if Sensex fails to sustain above 21109 (Nifty 6338)
[Downside targets/supports at 21005(6312)/20950(6300) or lower]