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With the global economy in the country’s economy is beginning to show some signs of improvement. International crude oil prices are declining market. Atmosphere of panic in the stock market is less certain. There is also strong in Rs. The next step of the rupee against the dollar at that level or below should be 59 or 60. Soon the government will take some concrete steps. The rupee against the dollar is hovering between 62 and 63.
According to Finance Ministry sources, to improve the country’s economy will have to be under 60 bucks. The exercise has now begun. According to Finance Minister P Chidambaram in the current economic and financial circumstances reasonable rate of Rs 60 per dollar is between 59 and Indian currency should not go below this level.
Stock market updates:-
The 30 share closed 166.58 points or 0.84% down at 19727.27, it intraday touch a high levels of 19981.57 and low levels of 19674.38.
The 50 share ended 49.05 points or 0.83% down at 5833.20, it intraday touch high levels of 5909.20 and touch a low levels of 5819.30.
Movers and Losers stocks:-
BPCL, HCL Tech, Sun Pharma, Coal India, Hero motocrop, Ultra cements, PNB, ACC, Ambuja Cements, TCS were among gainers stocks.
BHEL, JP Associate, Tata steel, DLF, Kotak bank, Bharti Airtel, SBIN, Hindalco,Sesa Goa, ICICI bank were among top losers.
Tomorrow stock market trading call on Monday 30 September
BUY BPCL with targets 335/336/340 and Stop loss 322
SELL Coal India with targets 306/305/304 and Stop loss 315
BUY Tata motors with targets 346/347/348 and Stop loss
BUY HDFC bank with targets 620/625/630 and Stop loss 600
BUY Reliance infra with targets 403/405/407 and Stop loss 390
BUY Gail India with targets 327.50/328.50/333 and Stop loss 323