7 April 2008, 9.00 am
Nifty in a range of 4590-4700 for today
As we discussed in Fridays outlook, Nifty breaks the crucial support at 4740, and tested the low near to 4630. The inflation fears triggered the panic selling on Friday. For today Nifty likely to trade in 4590-4700 zone. IF Nifty falls below 4590, it may fell to 4550. above 4700, 4740 will be a hurdle.
Any steps from Government to take control on inflation which hit 7%, a three years high, can influence the market sentiment. The target levels of inflation of RBI is below 5%.
US markets gave a mixed close on Friday. In this morning Asian peers are in green zone except Strait time of Singapore. Nikkei is in a gain of 57 points while Hngseng is up by 215 points.
FIIs were heavy sellers for 848 crores while DIIs' net investment was for 579 crores.
Nifty in a range of 4590-4700 for today
As we discussed in Fridays outlook, Nifty breaks the crucial support at 4740, and tested the low near to 4630. The inflation fears triggered the panic selling on Friday. For today Nifty likely to trade in 4590-4700 zone. IF Nifty falls below 4590, it may fell to 4550. above 4700, 4740 will be a hurdle.
Any steps from Government to take control on inflation which hit 7%, a three years high, can influence the market sentiment. The target levels of inflation of RBI is below 5%.
US markets gave a mixed close on Friday. In this morning Asian peers are in green zone except Strait time of Singapore. Nikkei is in a gain of 57 points while Hngseng is up by 215 points.
FIIs were heavy sellers for 848 crores while DIIs' net investment was for 579 crores.
Nifty April 2008 futures were at 4666.10, at a premium of 19.10 points as compared to spot closing of 4647.
The NSE's futures & options (F&O) segment turnover was Rs 33,723.32 crore, which was higher than Rs 32,513.16 crore on Thursday, 3 April 2008.