1 April 2008, 8.30 am
Market may consolidate, trend line support at 4675 is crucial
Inflation fears triggered the sell off
Expected supports are broken in the heavy sell off from FIIs in the fear of inflation figures. As the short term support at 4800 is broken in Nifty, now look at the trend line support at 4675 level. Nifty may face resistance at 4800, 4860 levels.
Dow could find some support at 12200 level and closed with a gain of 46 points. Nikkei is in green zone with a gain of 172 points in the morning session. Hangseng also gained 380 points.
FIIs were net sellers for 865 crores in capital segment while DIIs were net buyer for 566 crores according to NSE provisional data.
Market may consolidate, trend line support at 4675 is crucial
Inflation fears triggered the sell off
Expected supports are broken in the heavy sell off from FIIs in the fear of inflation figures. As the short term support at 4800 is broken in Nifty, now look at the trend line support at 4675 level. Nifty may face resistance at 4800, 4860 levels.
Dow could find some support at 12200 level and closed with a gain of 46 points. Nikkei is in green zone with a gain of 172 points in the morning session. Hangseng also gained 380 points.
FIIs were net sellers for 865 crores in capital segment while DIIs were net buyer for 566 crores according to NSE provisional data.
Nifty April 2008 futures were at 4715, at a discount of 19.50 points as compared to spot closing of 4734.50.
The NSE's futures & options (F&O) segment turnover was Rs 47,200.87 crore, which was lower than Rs 49,087.03 crore on Friday, 28 March 2008.
NSE market breadth was weak. Advsances:Declines were 447:733