13 June 2008, 9.30 am
Nifty may test 4590 on the upside
After a gap down opening in the line with global cue, Major indices recovered their losses on the strong figures for Industrial Production Data. Nifty may continue some more uptrend up to 4590 which is the near target. But need to cross and stable above 4550. The closing of index is near the resistance zone. On every dip accumulation can be seen in front line stocks. The expected support level is 4450.
US indices were opened in a very strong position. But in the progress of the trade Dow Jones surrendered most of it gain and closed in green adding 57 points. Asian markets except Taiwan are trading weak in this morning.
FIIs were gain sellers in equity segment. Their net selling was for Rs.1211 crores while DIIs' net buying was for 500 crores.
Nifty June 2008 futures were at 4500.55, at a discount of 38.80 points as compared to spot closing of 4539.35. NSE futures & options (F&O) segment turnover was Rs 52,333.46 crore, which was higher than Rs 45,775.86 crore on Wednesday, 11 June 2008.
Market breadth at NSE was strong. Advances : Declines was 671:511
Nifty may test 4590 on the upside
After a gap down opening in the line with global cue, Major indices recovered their losses on the strong figures for Industrial Production Data. Nifty may continue some more uptrend up to 4590 which is the near target. But need to cross and stable above 4550. The closing of index is near the resistance zone. On every dip accumulation can be seen in front line stocks. The expected support level is 4450.
US indices were opened in a very strong position. But in the progress of the trade Dow Jones surrendered most of it gain and closed in green adding 57 points. Asian markets except Taiwan are trading weak in this morning.
FIIs were gain sellers in equity segment. Their net selling was for Rs.1211 crores while DIIs' net buying was for 500 crores.
Nifty June 2008 futures were at 4500.55, at a discount of 38.80 points as compared to spot closing of 4539.35. NSE futures & options (F&O) segment turnover was Rs 52,333.46 crore, which was higher than Rs 45,775.86 crore on Wednesday, 11 June 2008.
Market breadth at NSE was strong. Advances : Declines was 671:511
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