7 March 2008, 9.00 am
Volatility may continue
As we projected last day, market recovered a bit from technically oversold conditions to close with moderate gains on Wednesday. Again now the global factors are turned negative. So we should expect some volatility. Nifty may face the immediate resistance at 4950, then at 5010 levels. The supports may found at 4860 and 4800 levels. If it breaks 4800, some panic can be seen and the things may be become more worst...
US indices closed with a loss of 214 points in Dow Jones. Asian markets are also in red in this morning. Nikkei has lost 378 points and Hang seng down 700 points.
Both FIIs and DIIs were sellers in Capital segment. Those were for 285 crore and 131 crores respectively.
Crude oil price hits new record price. Yesterday at NYMEX, crude hit $105.47.
Indian ADRs closed down at NYSE.
Volatility may continue
As we projected last day, market recovered a bit from technically oversold conditions to close with moderate gains on Wednesday. Again now the global factors are turned negative. So we should expect some volatility. Nifty may face the immediate resistance at 4950, then at 5010 levels. The supports may found at 4860 and 4800 levels. If it breaks 4800, some panic can be seen and the things may be become more worst...
US indices closed with a loss of 214 points in Dow Jones. Asian markets are also in red in this morning. Nikkei has lost 378 points and Hang seng down 700 points.
Both FIIs and DIIs were sellers in Capital segment. Those were for 285 crore and 131 crores respectively.
Nifty March 2008 futures were at 4915.10, at a discount of 6.30 points as compared to spot closing of 4921.40.
The NSE's futures & options (F&O) segment turnover was Rs 33,581.65 crore, which was lower than Rs 40,644.50 crore on Tuesday, 4 March 2008.
Market breadth was weak. NSE advances:declines were 328:854Crude oil price hits new record price. Yesterday at NYMEX, crude hit $105.47.
Indian ADRs closed down at NYSE.