26 Feb 2008, 8.30 am
Market may continue momentum with global cue
Global markets are in a pullback rally. US indices yesterday recovered a bit. Dow Jones closed with a gain of 189 points. In this morning Asian markets - Nikkei and Hangseng are trading in green zone.
Nifty may do a gap up opening today near 5260, a resistance level. If the bulls can sustain the initial gain in indices, Nifty can touch 5300. Next resistance level is 5340. 5150 and 5130 are the immediate supports for Nifty.
FIIs were heavy buyers on capital segment. Their net buying was for 786 crores while DIIs booked profit for 316 crores. Foreign inflow is necessary for the market to go up.
Nifty February 2008 futures were at 5203, at a premium of 2.30 points as compared to spot closing of 5200.70.
The NSE futures & options (F&O) segment turnover was Rs 51,314.54 crore, which was higher than Rs 36,386.23 crore on Friday, 22 February 2008.
Market breadth was weak yesterday. NSE advances:declines were 459:717.
Indian ADRS at NYSE closed with a gain of 2-3%
Crude oil at NYMEX is at $ 99.23 a barrel.
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Our clients are holding momentum stocks to book profit today...
______________________________________________________
Market may continue momentum with global cue
Global markets are in a pullback rally. US indices yesterday recovered a bit. Dow Jones closed with a gain of 189 points. In this morning Asian markets - Nikkei and Hangseng are trading in green zone.
Nifty may do a gap up opening today near 5260, a resistance level. If the bulls can sustain the initial gain in indices, Nifty can touch 5300. Next resistance level is 5340. 5150 and 5130 are the immediate supports for Nifty.
FIIs were heavy buyers on capital segment. Their net buying was for 786 crores while DIIs booked profit for 316 crores. Foreign inflow is necessary for the market to go up.
Nifty February 2008 futures were at 5203, at a premium of 2.30 points as compared to spot closing of 5200.70.
The NSE futures & options (F&O) segment turnover was Rs 51,314.54 crore, which was higher than Rs 36,386.23 crore on Friday, 22 February 2008.
Market breadth was weak yesterday. NSE advances:declines were 459:717.
Indian ADRS at NYSE closed with a gain of 2-3%
Crude oil at NYMEX is at $ 99.23 a barrel.
______________________________________________________
**************************
Our clients are holding momentum stocks to book profit today...
______________________________________________________