6 Jun 2008, 9.00 am
4730, 4800 are the immediate targets
The quick recovery from lower levels indicates some trend reversal to test 4730 and then 4800 on the upside in Nifty. Fresh buying and short covering helped the index to close above 4630, the crucial level. Market may find an immediate support at 4620-4610 zone. Need to watch how the market is responding to the inflation figures announced today noon.
US indices gave a bounce back yesterday. Dow recovered 213 points. Asian markets are in green, in the line with US cue. Nikkei added 222, HSI +240.
4730, 4800 are the immediate targets
The quick recovery from lower levels indicates some trend reversal to test 4730 and then 4800 on the upside in Nifty. Fresh buying and short covering helped the index to close above 4630, the crucial level. Market may find an immediate support at 4620-4610 zone. Need to watch how the market is responding to the inflation figures announced today noon.
US indices gave a bounce back yesterday. Dow recovered 213 points. Asian markets are in green, in the line with US cue. Nikkei added 222, HSI +240.
Nifty June 2008 futures were at 4671, at a discount of 5.95 points as compared to spot closing of 4676.95.
The NSE futures & options (F&O) segment turnover was Rs 51,017.90 crore, which was higher than Rs 48,378.31 crore on Wednesday, 4 June 2008.
NSE market breadth was flat to positive. Adcances:Declines was 593:583
FIIs were net sellers for 1418 crores while DIIs were net buyers for 570 crores.
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