31 Jan 2008
Crucial Supports are broken in Nifty, more downside can be seen
Nifty could not find bottom above 5220 level and closed the shop at a weak zone indication more downside to come. Fibonacci levels of 50% and 61.8% are badly broken. Today is the F&O contract expiry day and the market may seen extreme volatility. Nifty may test the levels of 5070 or 5000 on the downside. The uncertainty is ruling the market at time being. We need to be careful and be patient to take any position in the market. We suggest the traders to trade in low volume.
US indices ended in losses and Asian peers are trading mixed. Global markets are expected to consolidate at current levels for short term. The same can be seen in our market also in coming days, after the F&o contract expiry day.
Foreign fund out flow is continuing. FIIs were net sellers in Indian markets for 911 crores and DIIs bought for 723 crores on Wednesday, according to NSE provisional data.
The broader based S&P CNX Nifty was down 113.20 points or 2.14% at 5167.60. Nifty January 2008 futures were at 5145, a discount of 22.60 points discount over spot closing.
Turnover on NSE’s futures & options rose to Rs 57973.91 crore as compared to Rs 56019.95 crore of previous day.
NIMEX crude oil price was up - 92.35 USD a barrel.
Most of the Indian ADRs ended in losses in NYSE.
RAJESHEXPO is banned in NSE F&O segment. Any increase in open positions shall attract appropriate penal and disciplinary action.
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Click here - Performance of NSEgems with 80% success ratio is updated
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Archives:
Crucial Supports are broken in Nifty, more downside can be seen
Nifty could not find bottom above 5220 level and closed the shop at a weak zone indication more downside to come. Fibonacci levels of 50% and 61.8% are badly broken. Today is the F&O contract expiry day and the market may seen extreme volatility. Nifty may test the levels of 5070 or 5000 on the downside. The uncertainty is ruling the market at time being. We need to be careful and be patient to take any position in the market. We suggest the traders to trade in low volume.
US indices ended in losses and Asian peers are trading mixed. Global markets are expected to consolidate at current levels for short term. The same can be seen in our market also in coming days, after the F&o contract expiry day.
Foreign fund out flow is continuing. FIIs were net sellers in Indian markets for 911 crores and DIIs bought for 723 crores on Wednesday, according to NSE provisional data.
The broader based S&P CNX Nifty was down 113.20 points or 2.14% at 5167.60. Nifty January 2008 futures were at 5145, a discount of 22.60 points discount over spot closing.
Turnover on NSE’s futures & options rose to Rs 57973.91 crore as compared to Rs 56019.95 crore of previous day.
NIMEX crude oil price was up - 92.35 USD a barrel.
Most of the Indian ADRs ended in losses in NYSE.
RAJESHEXPO is banned in NSE F&O segment. Any increase in open positions shall attract appropriate penal and disciplinary action.
********************************************************
Click here - Performance of NSEgems with 80% success ratio is updated
********************************************************
Archives: