18 March 2008, 8.30 am
Should find support @ 4450
Extremely bearish market was on yesterday. Market did not had an attempt to recover at any point. As we assumed, After breaking 4580, Nifty reached near to its very crucial medium term support at 4450. Technically this level should be protected at any cost. If it find a bottom here a sharp recovery can be seen up to 4600, 4650 levels. Breaking of 4450 may give more pain. Some panic selling upto 4375-4350 can be seen. So many long positions are keeping 4450 of the Nifty level as a stop loss.
Global equity markets are paused its falling as Dow Jones could managed to close in a green zone after a volatile trade. Dow jones added 21 points. in Asian markets Nikkei is up by 172 points. Hangseng trading at flat. It is widely expected that today's Fed meeting will decide to cut the lending rate by 2% to add liquidity to save the largest economy of the world.
On Monday FIIs were net sellers for 658 crores and DIIs bought for 211 crores in capital segment.
Should find support @ 4450
Extremely bearish market was on yesterday. Market did not had an attempt to recover at any point. As we assumed, After breaking 4580, Nifty reached near to its very crucial medium term support at 4450. Technically this level should be protected at any cost. If it find a bottom here a sharp recovery can be seen up to 4600, 4650 levels. Breaking of 4450 may give more pain. Some panic selling upto 4375-4350 can be seen. So many long positions are keeping 4450 of the Nifty level as a stop loss.
Global equity markets are paused its falling as Dow Jones could managed to close in a green zone after a volatile trade. Dow jones added 21 points. in Asian markets Nikkei is up by 172 points. Hangseng trading at flat. It is widely expected that today's Fed meeting will decide to cut the lending rate by 2% to add liquidity to save the largest economy of the world.
On Monday FIIs were net sellers for 658 crores and DIIs bought for 211 crores in capital segment.
Nifty March 2008 futures were at 4477, at a discount of 26.10 points as compared to spot closing of 4503.10.
The NSE's futures & options (F&O) segment turnover was Rs 40,058.11 crore, which was lower than Rs 40,184.57 crore on Friday, 14 March 2008.
Market breadth at NSE was highly negative, 61:1133