15 Jan 2008
Nifty found support above 6100
US and other Asian markets were in losses, but Indian markets could find support at a better level. In the 15 min technicals of Nifty, it has broken the 61.8% of Fibonacci level and now resisted at 38.2% or at 6240. Nifty has another resistance at 6320 and 6350. These levels can be tested today.
A gap up up opening is expected today with the support from strong global cue. US and Asian markets are trading in green. Dow Jones closed with a gain of 171 points . U.S. stocks rose on Monday after strong results from IBM relieved concerns about the global economy and spurred a broad rebound from last week's slide.
Crude oil price at NYSE closed above $ 94 a barrel.
Most of the Indian ADRs have closed with a gain of 2 to 5 %.
The market breadth was positive. On BSE, 1553 shares advanced as compared to 1301 that declined. 24 remained unchanged. for NSE Advance:Decline is 735:449
Nifty January 2008 futures were at 6225.45, at a premium of 18.65 points as compared to spot closing of 6206.80.
The NSE's futures & options (F&O) segment turnover was Rs 53245.37 crore, which was lower than Rs 68449.32 crore on Friday, 11 January 2008.
Reliance Power IPO the biggest one, is opening issue today.
Both FIIs (-257 crores) and DIIs (-193 crores) were net sellers in Indian Capital market according to NSE provisional data.
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8 Jan 2008