13 March 2008, 8.30 am
4800 will be decisive for Nifty
Market opened yesterday with gap up in the line with global markets and it was falling on the disappointing figures from Index of Industrial Production for January 2008. Market surrendered all it gain by end of the day. For the time being 4800 level of Nifty is critical for today. If it could protect this level, uptrend may continue in short term. 4770, 4730 are the other supports for Nifty. 4940, 5000 are the resistance levels.
Market breadth was negative on Wednesday. NSe advance:declines was 538:648
Foreign funds were net buyer in the falling market for 127 crores, yesterday. Domestic funds were net sellers for 528 crores.
Crude oil is really firing, hits another record high of $ 110.2 a barrel at NYMEX on Wednesday.
4800 will be decisive for Nifty
Market opened yesterday with gap up in the line with global markets and it was falling on the disappointing figures from Index of Industrial Production for January 2008. Market surrendered all it gain by end of the day. For the time being 4800 level of Nifty is critical for today. If it could protect this level, uptrend may continue in short term. 4770, 4730 are the other supports for Nifty. 4940, 5000 are the resistance levels.
Market breadth was negative on Wednesday. NSe advance:declines was 538:648
Foreign funds were net buyer in the falling market for 127 crores, yesterday. Domestic funds were net sellers for 528 crores.
Nifty March 2008 futures were at 4866, at a discount of 6 points as compared to spot closing of 4872.
The NSE's futures & options (F&O) segment turnover was Rs 44,632.78 crore, which was higher than Rs 38,176.25 crore on Tuesday, 11 March 2008.
Crude oil is really firing, hits another record high of $ 110.2 a barrel at NYMEX on Wednesday.