5 Mar 2008, 9.00 am
4800 is decisive for Nifty
After a highly volatile trade Nifty closed in a bearish zone, below the 61.8% of the Fibonacci level (4867) on the daily chart.During the intraday actvity, Nifty went down to very near to the next support at 4800, which is remaining as crucial for today.The momentum oscillators in the hourly technicals of Nifty says the market is little bit oversold. The relative strength index gives a signal for some trend reversal for a short while. So some technical pullback may be seen today if Index could be hold above 4800. When going up 4950, 4975 and 5050 are the immediate resistance levels. Below 4800, weakness may continue up to 4650. Global cues are also crucial.
US markets were down on Tuesday. Dow Jones did some recovery in last hours of trade and closed with a loss of 45 points and Nasdaq closed flat. In this morning trade, Asian markets are trading mixed. Nikkei is down by 27 points and Hangseng trading in green. There is uncertain conditions in global markets.
Foreign funds were sellers for 512 cr and DIIs bought for 170 cr in Capital segment on Tuesday according to NSE provisional data.
NYMEX crude price fell down to $ 99.52 (-2.93) a barrel.
All the Indian ADRs are down from 1 to 7 % at NYSE.
US markets were down on Tuesday. Dow Jones did some recovery in last hours of trade and closed with a loss of 45 points and Nasdaq closed flat. In this morning trade, Asian markets are trading mixed. Nikkei is down by 27 points and Hangseng trading in green. There is uncertain conditions in global markets.
Foreign funds were sellers for 512 cr and DIIs bought for 170 cr in Capital segment on Tuesday according to NSE provisional data.
Nifty March 2008 futures were at 4852, at a discount of 12.25 points as compared to spot closing of 4864.25. The discount was 71 points on previous day.
The NSE's futures & options (F&O) segment turnover was Rs 40,644.50 crore, which was higher than Rs 36,591.82 crore on Monday, 3 March 2008.
Market breadth is remaining weak. NSE adcances:declines is 169:1020NYMEX crude price fell down to $ 99.52 (-2.93) a barrel.
All the Indian ADRs are down from 1 to 7 % at NYSE.