22 April 2008, 8.30 am
5000 is a decisive level for the day
As expected market yesterday performed well and closed shop above 5000 mark in Nifty. This level is considered today as a very crucial one for the day's trend. Next support level is at 4960. The uptrend may continue on this support base. The next resistance is expected at 5100, 5125 levels.
US indices corrected a bit. Dow Jones down 24 points. All Asian market are in same line. Nikkei corrected 153 points and Hangseng down 230. Global markets are in threat of higher oil price. Crude oil hit a new record at $117.48 a barrel.
5000 is a decisive level for the day
As expected market yesterday performed well and closed shop above 5000 mark in Nifty. This level is considered today as a very crucial one for the day's trend. Next support level is at 4960. The uptrend may continue on this support base. The next resistance is expected at 5100, 5125 levels.
US indices corrected a bit. Dow Jones down 24 points. All Asian market are in same line. Nikkei corrected 153 points and Hangseng down 230. Global markets are in threat of higher oil price. Crude oil hit a new record at $117.48 a barrel.
Nifty April 2008 futures were at 5045, at a premium of 8 points as compared to spot closing of 5037.
The NSE's futures & options (F&O) segment turnover was Rs 40,635.23 crore, which was lower than Rs 42,461.28 crore on Thursday, 17 April 2008.
Market breadth was very strong. NSE advances : declines was 959:248
FII's net buying was for 169 crores in capital segment, according to NSE provisional data
Indian ARDs closed mixed. Banking stocks gained, but technology was down.
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Hotpick:
Buy INDIACEM (CMP:188)
The stock has a good support at 175 level. The immediate support at 182. The counter is expected to move up to 196, 200,210 levels in short term.