17 March 2008, 8.30 am
4580-4600 zone is very crucial on the downside
Market may open gap down today on highly weak global cues. The immediate support on the chart of Nifty is at 4650. However for the short term 4580-4600 zone is expected as a critical support to be protected by the bulls at any cost. If Nifty fails to sustain above the support zone, it may sink to test the January low at near 4450. Immediate resistance is at 4800.
Most of the Asian emerging markets have broken the crucial low of January. Nikkei in this morning is down by 514 and Hangseng has lost more than thousand points. On Friday Dow Jones was closed with a loss of 194 points in a volatile session.
On Friday, FIIs were net sellers in capital segment for 358 crores while DIIs bought for 100 crores.
Crude oil at NYMEX is stable at above $ 110 a barrel.
4580-4600 zone is very crucial on the downside
Market may open gap down today on highly weak global cues. The immediate support on the chart of Nifty is at 4650. However for the short term 4580-4600 zone is expected as a critical support to be protected by the bulls at any cost. If Nifty fails to sustain above the support zone, it may sink to test the January low at near 4450. Immediate resistance is at 4800.
Most of the Asian emerging markets have broken the crucial low of January. Nikkei in this morning is down by 514 and Hangseng has lost more than thousand points. On Friday Dow Jones was closed with a loss of 194 points in a volatile session.
On Friday, FIIs were net sellers in capital segment for 358 crores while DIIs bought for 100 crores.
Nifty March 2008 futures were at 4753.90, at a premium of 8.10 points as compared to spot closing of 4745.80.
The NSE's futures & options (F&O) segment turnover was Rs 40,184.57 crore, which was lower than Rs 44,869.49 crore on Thursday, 13 March 2008.
Market breadth was strong. NSE advances : declines is 612:573Crude oil at NYMEX is stable at above $ 110 a barrel.