5 Feb 2008
Profit taking can be seen
Yesterday after a strong rally, market witnessed profit taking at higher levels which can be continued today also. It is widely expected that 5400 will come as a crucial support level for further market movement. Using Fibonacci analysis, 5370 and 5260 are the other support levels. These levels can be tested on profit taking. On a correction, momentum stocks can be bought for short term trade.
US indices corrected from higher levels. Dow Jones lost 108points on Monday trade. Asian markets are also in red in the line with US cue. Both Nikkei and Hangseng are down after a bull rally.
FIIs were buyers in Indian markets on Monday for 163 crores. DIIs bought for 731 crores, accoding to NSE provisional data.
The broader CNX S&P Nifty was up 146.25 points or 2.75% at 5,463.50. Nifty February 2008 futures were at 5478, a premium of 14.50 points as compared to spot closing.
The total turnover on NSE’s futures & options segment amounted to Rs 40169.33 crore as compared to Rs 35830.69 crore on Friday, 1 February 2008.
The market breadth was positive on NSE. 1024 stocks advance while 152 nos declined.
Archives:
Profit taking can be seen
Yesterday after a strong rally, market witnessed profit taking at higher levels which can be continued today also. It is widely expected that 5400 will come as a crucial support level for further market movement. Using Fibonacci analysis, 5370 and 5260 are the other support levels. These levels can be tested on profit taking. On a correction, momentum stocks can be bought for short term trade.
US indices corrected from higher levels. Dow Jones lost 108points on Monday trade. Asian markets are also in red in the line with US cue. Both Nikkei and Hangseng are down after a bull rally.
FIIs were buyers in Indian markets on Monday for 163 crores. DIIs bought for 731 crores, accoding to NSE provisional data.
The broader CNX S&P Nifty was up 146.25 points or 2.75% at 5,463.50. Nifty February 2008 futures were at 5478, a premium of 14.50 points as compared to spot closing.
The total turnover on NSE’s futures & options segment amounted to Rs 40169.33 crore as compared to Rs 35830.69 crore on Friday, 1 February 2008.
The market breadth was positive on NSE. 1024 stocks advance while 152 nos declined.
Archives: