11 April 2008, 9.00 am
4800, the decisive hurdle to cross
Yesterday, in the last hour of the trade, indices surrendered all their day's gain and closed in a negative territory. As the short term supports are unbeaten, the strength to survive is remaining. As we discussed early, 4680 and 4630 are the expected demand levels. Standing stable on this platform, Nifty may try to move up. the decisive hurdle is at 4800 which one should be broken to move quickly to 4835 and then to 4900.
US markets recovered. Dow Jones could add 54 points to previous day's closing, likely found a ground at 12500. The same trend was seen in other US indices and also in the Asian markets in this morning. Nikkei is in green zone with a a gain of 272 points. Hangseng added 150 points.
4800, the decisive hurdle to cross
Yesterday, in the last hour of the trade, indices surrendered all their day's gain and closed in a negative territory. As the short term supports are unbeaten, the strength to survive is remaining. As we discussed early, 4680 and 4630 are the expected demand levels. Standing stable on this platform, Nifty may try to move up. the decisive hurdle is at 4800 which one should be broken to move quickly to 4835 and then to 4900.
US markets recovered. Dow Jones could add 54 points to previous day's closing, likely found a ground at 12500. The same trend was seen in other US indices and also in the Asian markets in this morning. Nikkei is in green zone with a a gain of 272 points. Hangseng added 150 points.
Nifty April 2008 futures were at 4714, at a discount of 19 points as compared to spot closing of 4733.
The NSE's futures & options (F&O) segment turnover was Rs 33,689.60 crore, which was higher than Rs 31,113.78 crore on Wednesday, 9 April 2008.
NSE market breadth was positive. 699:472
FIIs were net sellers for 462 crores and DIIs bought for 594 crores in capital segment, according to NSE provisional data.
NYMEX crude oil at $ 110.11 a barrel.
Indian ADRs were mixed. Technology stocks are the gainers.