28 Feb 2008 8.30 am
Volatility can be seen on F&O contract expiry.
Yesterday market could not find stability above 5340 and sharply resisted at 5368 which was the high value of the last upswing. On a profit taking Nifty tested the support at 5250, the crucial one. Today is F&O contract expiry for February 2008. Market may witness volatility on squaring positions. below 5250, the immediate support is expected at 5220. If it is broken once, Nifty may test the supports at 5175 or 5135. Immediate resistance is at 5300.
Global cues and Union Budget can influence the market.
US indices ended in a consolidation. Dow Jones closed with a gain of 9 points. Asian market are in a correction. Nikkei is down by 208 points in the morning session.
The Union Budget is going to be presented by Finance Minister tomorrow in the Parliament which can influence the further market direction. Stock specific actions can be seen in the line with the advantages announced by the FM.
Both FIIs and DIIs were buyers in capital segment. It was 350 crores and 341 crores respectively.
Indian ADRs at NYSE closed mixed. Crude oil is at $ 99.64 a barrel.
Volatility can be seen on F&O contract expiry.
Yesterday market could not find stability above 5340 and sharply resisted at 5368 which was the high value of the last upswing. On a profit taking Nifty tested the support at 5250, the crucial one. Today is F&O contract expiry for February 2008. Market may witness volatility on squaring positions. below 5250, the immediate support is expected at 5220. If it is broken once, Nifty may test the supports at 5175 or 5135. Immediate resistance is at 5300.
Global cues and Union Budget can influence the market.
US indices ended in a consolidation. Dow Jones closed with a gain of 9 points. Asian market are in a correction. Nikkei is down by 208 points in the morning session.
The Union Budget is going to be presented by Finance Minister tomorrow in the Parliament which can influence the further market direction. Stock specific actions can be seen in the line with the advantages announced by the FM.
Both FIIs and DIIs were buyers in capital segment. It was 350 crores and 341 crores respectively.
Nifty February 2008 futures were at 5241.05, at a discount of 27.35 points as compared to spot closing of 5268.40.
The NSE's futures & options (F&O) segment turnover was Rs 63,256.76 crore, which was higher than Rs 56,515.69 crore on Tuesday, 26 February 2008.
Market breadth was remaining positive at NSE. 636:537Indian ADRs at NYSE closed mixed. Crude oil is at $ 99.64 a barrel.