16 April 2008, 9.00 am
Uptrend to continue
As expected, when Nifty found stability above 4800 level, it could hit the target of 4900 by nonstop. Uptrend may continue in the market. Some profit taking may be seen at 5000 levels. Immediate support for index is at 4860 and 4835 levels. 4940 and 5000 are the resistance levels.
US markets recovered after two days of falling. Dow added 60 points and closed above the 50 days moving average. Asian markets except China are also in the green zone. Nikkei has a gain of 184 points in morning session.
Uptrend to continue
As expected, when Nifty found stability above 4800 level, it could hit the target of 4900 by nonstop. Uptrend may continue in the market. Some profit taking may be seen at 5000 levels. Immediate support for index is at 4860 and 4835 levels. 4940 and 5000 are the resistance levels.
US markets recovered after two days of falling. Dow added 60 points and closed above the 50 days moving average. Asian markets except China are also in the green zone. Nikkei has a gain of 184 points in morning session.
Nifty April 2008 futures were at 4914.90, at a premium of 35.25 points as compared to spot closing of 4879.65.
The NSE futures & options (F&O) segment turnover was Rs 46,369.75 crore, which was higher than Rs 41,003.92 crore on Friday, 11 April 2008.
Market breadth was strong. NSE advances:declines was 850:353
FIIs' activity was very low. Their net disinvestment is capital segment was for 56 crore according to NSE provisional data.
Crude oil at NYMEX at new record price - $ 113.90 a barrel
All indian ADRs in gain at NYSE. Technology stocks are out performers yesterday in the light of the results from Infosys.