22 Feb 2008, 8.30 am
Need to cross 5240 of Nifty
Market yesterday was volatile, but Nifty could close creating a positive attitude in the line with other Asian markets. A double bottom is created at 5116-5120 levels. So Nifty should sustain above the support and have to cross 5240 on the upside. As the global sentiments again turned weak, Nifty is likely to consolidate in 5100-5240 range today with a negative base. The medium term uptrend is depends on the strength of the support at 5100 which is tested twice in last two trading days. So 5100 should be protected at any cost...
US markets surrendered all the gain of last day. It opened in positive territory, corrected through out the day and ended with a loss of 142 points. All Asian markets are in red. Nikkei down 264 and Hangseng lost 366 points in this morning.
FIIs were buyers in capital market yesterday. They bought for 206 crores while DIIs booked profit for 140 crores in net.
Positive market breadth was there. NSE advances:declines was 699:468.
Nifty February 2008 futures were at 5201, at a premium of 9.20 points as compared to spot closing of 5191.80.
The NSE's futures & options (F&O) segment turnover was Rs 43,409.74 crore, which was lower than Rs 43,987.02 crore on Wednesday, 20 February 2008.
State Bank of India, Tata Steel and Sail futures closed with a premium compared to the spot closing.
Crude oil cooled at NYMEX - $ 97.9 a barrel
Most of Indian ADRs closed in red in the line with US market sentiment.
Need to cross 5240 of Nifty
Market yesterday was volatile, but Nifty could close creating a positive attitude in the line with other Asian markets. A double bottom is created at 5116-5120 levels. So Nifty should sustain above the support and have to cross 5240 on the upside. As the global sentiments again turned weak, Nifty is likely to consolidate in 5100-5240 range today with a negative base. The medium term uptrend is depends on the strength of the support at 5100 which is tested twice in last two trading days. So 5100 should be protected at any cost...
US markets surrendered all the gain of last day. It opened in positive territory, corrected through out the day and ended with a loss of 142 points. All Asian markets are in red. Nikkei down 264 and Hangseng lost 366 points in this morning.
FIIs were buyers in capital market yesterday. They bought for 206 crores while DIIs booked profit for 140 crores in net.
Positive market breadth was there. NSE advances:declines was 699:468.
Nifty February 2008 futures were at 5201, at a premium of 9.20 points as compared to spot closing of 5191.80.
The NSE's futures & options (F&O) segment turnover was Rs 43,409.74 crore, which was lower than Rs 43,987.02 crore on Wednesday, 20 February 2008.
State Bank of India, Tata Steel and Sail futures closed with a premium compared to the spot closing.
Crude oil cooled at NYMEX - $ 97.9 a barrel
Most of Indian ADRs closed in red in the line with US market sentiment.