23 April 2008, 9.00 am
Markets to consolidate with uptrend
The decisive level 5000 is remaining crucial for Nifty. Market likely to continue its up move with considerably low momentum. The moving averages and momentum oscillators have signaled a pause in the strength in the up side momentum. 5100 and 5140 can be strong resistance for Nifty for time being. Crossing the 200 day moving average (5139.91 as on 22/04/08) can give further momentum in Market.
US markets corrected more. Dow lost another 104 points. But all Asian markets are in positive mood. Nikkei added 92 points in morning session and Hangseng got 200.
The crude price is the major threat to the market. At NYMEX crude oil hit $ 119.90 on 22 April 2008.
Markets to consolidate with uptrend
The decisive level 5000 is remaining crucial for Nifty. Market likely to continue its up move with considerably low momentum. The moving averages and momentum oscillators have signaled a pause in the strength in the up side momentum. 5100 and 5140 can be strong resistance for Nifty for time being. Crossing the 200 day moving average (5139.91 as on 22/04/08) can give further momentum in Market.
US markets corrected more. Dow lost another 104 points. But all Asian markets are in positive mood. Nikkei added 92 points in morning session and Hangseng got 200.
The crude price is the major threat to the market. At NYMEX crude oil hit $ 119.90 on 22 April 2008.
Nifty April 2008 futures were at 5048, at a discount of 1.30 points as compared to spot closing of 5049.30.
The NSE's futures & options (F&O) segment turnover was Rs 51,643.74 crore, which was higher than Rs 40,635.23 crore on Monday, 21 April 2008.
The market breadth was postive. NSE ADVances : Declines was 669:532