7 May 2008, 9.00 am
Short term trend is decisive at 5100
On a profit taking from FIIs, as index lost ground at 5167, the next support is tested in 5120-5100 zone. 5100 level of Nifty is treated as a decisive point for the immediate uptrend for short term. Breaking 5100 can give more pain This level may be tested today during intraday trade. Market is likely to consolidate in 5100-5200 zone today.
US stock markets recovered smartly after a down opening. Do Jones could add 51 points to its previous closing. Asian markets are trading mixed. Japanese Market opened with a positive mood after two holidays. Nikkei is up by 130 points in morning session, but Hangseng is behind 130 points from previous close.
Short term trend is decisive at 5100
On a profit taking from FIIs, as index lost ground at 5167, the next support is tested in 5120-5100 zone. 5100 level of Nifty is treated as a decisive point for the immediate uptrend for short term. Breaking 5100 can give more pain This level may be tested today during intraday trade. Market is likely to consolidate in 5100-5200 zone today.
US stock markets recovered smartly after a down opening. Do Jones could add 51 points to its previous closing. Asian markets are trading mixed. Japanese Market opened with a positive mood after two holidays. Nikkei is up by 130 points in morning session, but Hangseng is behind 130 points from previous close.
Nifty May 2008 futures were at 5174.50, at a premium of 29.85 points as compared to spot closing of 5144.65.
The NSE's futures & options (F&O) segment turnover was Rs 32,856.62 crore, which was lower than Rs 32,972.85 crore on Monday, 5 May 2008.
Market breadth was negative on NSE. Adv : Dec was 325:876
According to provisional data FIIs were net sellers in capital segment for 815 crores.
Crude oil NYMEX hits another record- $ 122.35 a barrel and settled at $ 121.84
Indian ARDs closed mixed at NYSE. Banks were losers while Technology stocks were gainers.