08 Apr 2008, 8.30 am
Broad market may consolidate with an uptrend
The broad market may consolidate with a positive bias. The recent technical support for Nifty to keep the immediate uptrend is at 4720. As of Now index has a mild resistance at 4800. If convincingly breaks this, it can go up to 4830, 4860 levels.
The US market ended flat after trading in a positive zone through out the day. Some profit booking was seen at the end as earnings fears temper credit hopes. Asian markets in a correction. Nikkei is down by 125 points and Hangseng down by 184 points.
FIIs were net buyer in capital segment for 346 crores. DIIs net invested for 245 crores according to NSE provisional data.
Broad market may consolidate with an uptrend
The broad market may consolidate with a positive bias. The recent technical support for Nifty to keep the immediate uptrend is at 4720. As of Now index has a mild resistance at 4800. If convincingly breaks this, it can go up to 4830, 4860 levels.
The US market ended flat after trading in a positive zone through out the day. Some profit booking was seen at the end as earnings fears temper credit hopes. Asian markets in a correction. Nikkei is down by 125 points and Hangseng down by 184 points.
FIIs were net buyer in capital segment for 346 crores. DIIs net invested for 245 crores according to NSE provisional data.
Nifty April 2008 futures were at 4775, at a premium of 13.80 points as compared to spot closing of 4761.20.
The NSE's futures & options (F&O) segment turnover was Rs 32,302.80 crore, which was lower than Rs 33,723.32 crore on Friday, 4 April 2008.
NSE advances:declines were 754:424, the postivive market breadth.
Crude oil price again surged up to $ 109.09 (+2.86) at NYMEX.
Almost all Indian ADRs at NYSE ended with a gain of 1 to 5%.