24 Jan 2008
Markets doing the technical pullback
Hinghly oversold markets are doing now a technical pullback inspired by global cue. Nifty can face resistance at 5320 and 5395 levels. Support is expected at 4980 for short term.
After the wild sell off, to recover its losses, a lot of speculation is needed. Short term traders can trade with small targets.
US markets recovered 300 points yesterday on banking stocks. Asian markets are also trading in green.
FIIs were net sellers on Wednesday for 3021 crores while DIIs bought for 1291 crores, according to NSE provisional data. When market is nearing to contract expiry more volatility can be seen in coming days.
Turnover in NSE's futures & options segment declined to Rs 36073.86 crore from Rs 44307.58 yesterday 22 January 2008. The lower participation is may be due to the margin problem with brokers.
Market breadth was positive. NSE advance:declines was 800:345. See - A lot of shares have not participated in pullback rally.
Markets doing the technical pullback
Hinghly oversold markets are doing now a technical pullback inspired by global cue. Nifty can face resistance at 5320 and 5395 levels. Support is expected at 4980 for short term.
After the wild sell off, to recover its losses, a lot of speculation is needed. Short term traders can trade with small targets.
US markets recovered 300 points yesterday on banking stocks. Asian markets are also trading in green.
FIIs were net sellers on Wednesday for 3021 crores while DIIs bought for 1291 crores, according to NSE provisional data. When market is nearing to contract expiry more volatility can be seen in coming days.
Turnover in NSE's futures & options segment declined to Rs 36073.86 crore from Rs 44307.58 yesterday 22 January 2008. The lower participation is may be due to the margin problem with brokers.
Market breadth was positive. NSE advance:declines was 800:345. See - A lot of shares have not participated in pullback rally.
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15 Jan 2008