3 April 2008, 8.30 am
Markets to consolidate
The strong global cue could not save indices to close with a considerable gain compared to other markets. The Nifty faced resistance at near 4920 and closed near to 61.8% of the last pullback-4740. From here markets may lead to a consolidation. 4714 is a support level, then 4650. 4800 and 4835 are resistances for spot Nifty.
After a bull rally, US indices corrected a bit on profit taking. Dow jones closed with a loss of 48 points. Asian markets in mixed. Nikkei is in a gain of 63 points in morning session. Hangseng also in green.
FII activity in Indian markets was very low. Their net selling was for 135 crores.
DIIs net buying was for 264 crores.
Markets to consolidate
The strong global cue could not save indices to close with a considerable gain compared to other markets. The Nifty faced resistance at near 4920 and closed near to 61.8% of the last pullback-4740. From here markets may lead to a consolidation. 4714 is a support level, then 4650. 4800 and 4835 are resistances for spot Nifty.
After a bull rally, US indices corrected a bit on profit taking. Dow jones closed with a loss of 48 points. Asian markets in mixed. Nikkei is in a gain of 63 points in morning session. Hangseng also in green.
FII activity in Indian markets was very low. Their net selling was for 135 crores.
DIIs net buying was for 264 crores.
Nifty April 2008 futures were at 4741.15, at a discount of 13.05 points as compared to spot closing of 4754.20.
The NSE's futures & options (F&O) segment turnover was Rs 34,170.35 crore, which was lower than Rs 35,886.84 crore on Tuesday, 1 April 2008.
NSE market breadth was strong. Advances:Declines were 724:456.