8 Feb 2008
With the heavy unwinding from FIIs, the market has broken the 5260 level, it came down in search of an another support on the downside. Almost all the gain in the last pullback rally is surrendered. We need to wait for some time to stabilize the market and to find a good support. 5100, 5000 are psychological levels. So fresh long positions should be taken on a strong bottom.
US markets recovered some losses, but only 46 points which is not sufficient for a satisfied pullback. In Asia Nikkei of Japan is down by 100 points in morning session.
On Thursday FIIs were heavy sellers for 860 crores while DIIs bought for 230 crores. (NSE provisional data).
Nifty February 2008 futures were at 5,087.35, at a discount of 45.9 points as compared to spot closing of 5,133.25.
The NSE's futures & options (F&O) segment turnover was Rs 40,921.83 crore, which was lower than Rs 42,234.95 crore on Wednesday, 6 February 2008.
Market breadth was weak NSE advances:declines were 222:953
Indian ADRs closed mixed on NYSE.
NYMEX crude climbed to $88.05 a barrel.
Archives:
5100, 5000 of Nifty - psychological levels. Uncertainty continues
With the heavy unwinding from FIIs, the market has broken the 5260 level, it came down in search of an another support on the downside. Almost all the gain in the last pullback rally is surrendered. We need to wait for some time to stabilize the market and to find a good support. 5100, 5000 are psychological levels. So fresh long positions should be taken on a strong bottom.
US markets recovered some losses, but only 46 points which is not sufficient for a satisfied pullback. In Asia Nikkei of Japan is down by 100 points in morning session.
On Thursday FIIs were heavy sellers for 860 crores while DIIs bought for 230 crores. (NSE provisional data).
Nifty February 2008 futures were at 5,087.35, at a discount of 45.9 points as compared to spot closing of 5,133.25.
The NSE's futures & options (F&O) segment turnover was Rs 40,921.83 crore, which was lower than Rs 42,234.95 crore on Wednesday, 6 February 2008.
Market breadth was weak NSE advances:declines were 222:953
Indian ADRs closed mixed on NYSE.
NYMEX crude climbed to $88.05 a barrel.
Archives: