18 Feb 2008
Next target is 5400 of Nifty.
As we expected market could find a support above 5100 on gap down opening and recovered initial losses by the strong buying support from Foreign and domestic funds on Friday. Market is likely to continue the uptrend. The major resistance is at 5400, which is tested many time and failed sustain above. Near support for the Nifty is 5250 and 5200 levels. A convincing close above 5400 can be considered as a beginning of a medium term trend reversal to upside.
On Friday, US market corrected more. But In this morning today Asian peers are trading in green zone. Nikkei was up by 174 points in morning session. Hangseng has a gain of 140 points.
NSE provisional data says that Foreign fund has began their buying in Indian markets at lower levels. FIIs net Fund inflow on Friday was for 261 crores and DIIs have also bought for 138 crores in capital segment.
NSE market breadth was very strong. 942 shares advanced when 231 shares declined.
11 Feb 2008
8 Feb 2008
Next target is 5400 of Nifty.
As we expected market could find a support above 5100 on gap down opening and recovered initial losses by the strong buying support from Foreign and domestic funds on Friday. Market is likely to continue the uptrend. The major resistance is at 5400, which is tested many time and failed sustain above. Near support for the Nifty is 5250 and 5200 levels. A convincing close above 5400 can be considered as a beginning of a medium term trend reversal to upside.
On Friday, US market corrected more. But In this morning today Asian peers are trading in green zone. Nikkei was up by 174 points in morning session. Hangseng has a gain of 140 points.
NSE provisional data says that Foreign fund has began their buying in Indian markets at lower levels. FIIs net Fund inflow on Friday was for 261 crores and DIIs have also bought for 138 crores in capital segment.
NSE market breadth was very strong. 942 shares advanced when 231 shares declined.
Nifty February 2008 futures were at 5276.90, at a discount of 26 points as compared to spot closing of 5302.90.
The NSE's futures & options (F&O) segment turnover was Rs 42,675.67 crore, which was higher than Rs 37,973.36 crore on Thursday, 14 February 2008.
NYMEX crude at $95.55 a barrel.
Mixed closes for a Indian ADRs at NYSE on Friday.11 Feb 2008
8 Feb 2008