4 Feb 2008
Market heading to hurdle at 5400, the crucial
As we discussed last day, the sharp movement was to the positive side. The main hurdle is at 5400 level of Nifty. Today this level can be tested and may be able find stability above the resistance level. Then it can go up to 5525, then 5638 levels. But on every rise in the market, also profit taking can be seen.
Global cues are strong. US indices extended their gain. Dow Jones closed at 12743.19 (+92.83). Asian markets also in green. Nikkei is up by 335 points and Hangseng has gain of 900 points in this morning. So we expect our markets should also go in the line.
NSE provisional data says that FIIs and DIIs were net sellers in cash segment on Friday. FIIs' net selling was 126 crores and DIIs' net selling was 115 crores.
Crude oil price came down to $ 89.10 a barrel.
Most of the Indian ADRs ended in green on Friday at NYSE
NSE market breadth was slightly negative. 557 shares advanced while 606 shares declined on Friday
Archives:
Market heading to hurdle at 5400, the crucial
As we discussed last day, the sharp movement was to the positive side. The main hurdle is at 5400 level of Nifty. Today this level can be tested and may be able find stability above the resistance level. Then it can go up to 5525, then 5638 levels. But on every rise in the market, also profit taking can be seen.
Global cues are strong. US indices extended their gain. Dow Jones closed at 12743.19 (+92.83). Asian markets also in green. Nikkei is up by 335 points and Hangseng has gain of 900 points in this morning. So we expect our markets should also go in the line.
NSE provisional data says that FIIs and DIIs were net sellers in cash segment on Friday. FIIs' net selling was 126 crores and DIIs' net selling was 115 crores.
Crude oil price came down to $ 89.10 a barrel.
Most of the Indian ADRs ended in green on Friday at NYSE
NSE market breadth was slightly negative. 557 shares advanced while 606 shares declined on Friday
Archives: