14 March 2008, 9.00 am
Nifty may test 4450, if falls below 4575, the critical
In the line with Asian markets, Nifty tumbled and breaks all the expected supports and closed near to the intraday low, just above 4620. Market did not do any attempt for a recovery during the bears' action yesterday. Now we are looking to the level of 4575 as a critical one for today. Below this level, we have to see the low of 22 January 2008. some short covering may be seen there.
On an upward movement from current levels, Index can face resistance at 4700-4730 zone. breaking these levels will add momentum to reach 4800 and to 4870.
Foreign fund activity was considerably lower on Thursday. They were net sellers for 108 crores. Domestic funds were buyers here for 56 crores.
Global equity markets is on some relief from the sell pressure. Dow jones recovered its heavy losses in the early trade and closed with a gain of 35 points. Standard & Poor's said write-downs for large financial institutions are likely past the halfway mark, soothing investors' anxiety about the latest credit market fallout and increasing the allure of riskier assets. The news gave some confidence to investors.
Asian markets are trading in green in this morning. Nikkei added 64 points and Hangseng is up by 400 points.
Indian are closed mixed at NYSE.
Nifty may test 4450, if falls below 4575, the critical
In the line with Asian markets, Nifty tumbled and breaks all the expected supports and closed near to the intraday low, just above 4620. Market did not do any attempt for a recovery during the bears' action yesterday. Now we are looking to the level of 4575 as a critical one for today. Below this level, we have to see the low of 22 January 2008. some short covering may be seen there.
On an upward movement from current levels, Index can face resistance at 4700-4730 zone. breaking these levels will add momentum to reach 4800 and to 4870.
Foreign fund activity was considerably lower on Thursday. They were net sellers for 108 crores. Domestic funds were buyers here for 56 crores.
Global equity markets is on some relief from the sell pressure. Dow jones recovered its heavy losses in the early trade and closed with a gain of 35 points. Standard & Poor's said write-downs for large financial institutions are likely past the halfway mark, soothing investors' anxiety about the latest credit market fallout and increasing the allure of riskier assets. The news gave some confidence to investors.
Asian markets are trading in green in this morning. Nikkei added 64 points and Hangseng is up by 400 points.
Nifty March 2008 futures were at 4609, at a discount of 14.60 points as compared to spot closing of 4623.60.
The NSE's futures & options (F&O) segment turnover was Rs 44,869.49 crore, which was higher than Rs 44,632.78 crore on Wednesday, 12 March 2008.
NSE market breadth was very weak. Advances:declines were 67:1128
Crude oil hits $ 111 a barrel and closed at 110.33 at NYSE.Indian are closed mixed at NYSE.