11 March 2008, 9.00 am
4800-4900 is a hurdle zone for Nifty
Yes, It was a smart recovery for Nifty yesterday. After breaking the crucial level of 4650, tested 4620, then recovered very fast and closed near at the intra day high. Global cues were negative. But our market performed well. Now the question is - Can the Indices hold the gains today?
Immediate support for Nifty is seen at 4730. If Nifty can hold above this level, there is chances for more recovery in coming days. So have a close watch to 4730. There is a lot of resistances when going up. the range of 4800-4900 is the hurdle zone. A broad based uptrend may be seen only above this resistance band. Let us wait and see today.
Global markets once gain corrected. Dow Jones closed with a loss of another 153 points. Most of the Asian markets except Nikkei are in red. Hangseng has lost more than 400 points.
Once again FIIs turned to sellers. Their net selling was for 1248 cr and DIIs bought for 758 cr on Monday according to NSE provisional data.
Most of the Indian ADRs were down at NYSE.
Crude oil price is zoomed up and hits new record high at $ 108 a barrel and closed at 107.90 at NYMEX.
4800-4900 is a hurdle zone for Nifty
Yes, It was a smart recovery for Nifty yesterday. After breaking the crucial level of 4650, tested 4620, then recovered very fast and closed near at the intra day high. Global cues were negative. But our market performed well. Now the question is - Can the Indices hold the gains today?
Immediate support for Nifty is seen at 4730. If Nifty can hold above this level, there is chances for more recovery in coming days. So have a close watch to 4730. There is a lot of resistances when going up. the range of 4800-4900 is the hurdle zone. A broad based uptrend may be seen only above this resistance band. Let us wait and see today.
Global markets once gain corrected. Dow Jones closed with a loss of another 153 points. Most of the Asian markets except Nikkei are in red. Hangseng has lost more than 400 points.
Once again FIIs turned to sellers. Their net selling was for 1248 cr and DIIs bought for 758 cr on Monday according to NSE provisional data.
Nifty March 2008 futures were at 4778, at a discount of 22.40 points as compared to spot closing of 4800.40.
The NSE's futures & options (F&O) segment turnover was Rs 42,402.30 crore, which was higher than Rs 38,712.25 crore on Friday, 7 March 2008.
Market breadth is remaining weak. NSE advances:declines were 370:819Most of the Indian ADRs were down at NYSE.
Crude oil price is zoomed up and hits new record high at $ 108 a barrel and closed at 107.90 at NYMEX.