10 Jan 2008
Market may stable above 6200 level
Market was seen volatile in the last trading day and closed flat with a negative sense in Nifty. During the action Nifty tested the support level at 6220. It seems that 6000-6220 zone will be the immediate support for Nifty for a short term uptrend.
US indices recovered from losses of Tuesday. Dow Jones closed with a gain of 146 points. Asian markets are traded mixed in early trade today.
FIIs were net sellers for 392 crores and DIIs bought for 85 crores on Wednesday in Indian Capital market, According to NSE provisional data.
Crude oil was volatile in NYMEX and closed below $96 a barrel.
Nifty January 2008 futures were at 6260, at discount of 12 points as compared to spot closing of 6272.
The NSE's futures & options (F&O) segment turnover was Rs 74,171.29 crore, which was lower than Rs 84,355.67 crore on Tuesday, 8 January 2008.
NSE advance decline ratio was 332:852 on Wednesday, indicating negative market breadth.
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3 Jan 2008