18 Jan 2008
Pullback failed to sustain. More down side to come
As we reported yesterday, Nifty made a technical pullback but failed to hold levels. Index fell to down indicating more down is there to come. Short term trend is likely reversed and Nifty can test 5800, 5750 levels today. Highly volatile session is expected today. It is advised to stay away from fresh long positions as the index is below the 50 days moving average. A strong bottom is needed to attract bulls' action. Till then wait...
US market lost further ground and Dow Jones lost another 300 points. Asian markets also in losses Nikkei and Hangseng are down by 380 and 580 points respectively.
Crude oil is below $ 90 a barrel.
Indian ADRs ended in mixed.
NSE provisional data says FIIs were heavy sellers yesterday. Their net selling was for 2267 crores. DIIs were buyers for 734 crores at lower levels.
Pullback failed to sustain. More down side to come
As we reported yesterday, Nifty made a technical pullback but failed to hold levels. Index fell to down indicating more down is there to come. Short term trend is likely reversed and Nifty can test 5800, 5750 levels today. Highly volatile session is expected today. It is advised to stay away from fresh long positions as the index is below the 50 days moving average. A strong bottom is needed to attract bulls' action. Till then wait...
US market lost further ground and Dow Jones lost another 300 points. Asian markets also in losses Nikkei and Hangseng are down by 380 and 580 points respectively.
Crude oil is below $ 90 a barrel.
Indian ADRs ended in mixed.
NSE provisional data says FIIs were heavy sellers yesterday. Their net selling was for 2267 crores. DIIs were buyers for 734 crores at lower levels.
Nifty January 2008 futures were at 5922, at premium of 8.8 points compared with spot closing of 5913.20.
The NSE futures & options (F&O) segment turnover was Rs 67865.55 crore, which was lower than Rs 80606.24 crore on Wednesday, 16 January 2008.
Market breadth was positive on Thursday, NSE advance decline ratio was 842:339Archives: