9 June 2008, 9.00 am
Markets to gap down on weak global cue
Market on Friday cold hit 4730, the first target. But it could not sustain at higher levels and went back to support levels at 4610. There was no attempt to recovery from lower levels.
Today the market may open gap down on weak global cue from US and Asian markets. Dow Jones has lost nearly 400 points on Friday. Nikkei in this morning session has a loss of nearly 300 points. All Asin pears are trading in red.
Nifty likely to test 4500 in opening. The crucial level of 4450 which one should be protected to hold the hope for bulls is very near. Breaking the key level may give some panic to give up another 200 points in Nifty in coming sessions. There is also resistance at 4730 on the upside.
Markets to gap down on weak global cue
Market on Friday cold hit 4730, the first target. But it could not sustain at higher levels and went back to support levels at 4610. There was no attempt to recovery from lower levels.
Today the market may open gap down on weak global cue from US and Asian markets. Dow Jones has lost nearly 400 points on Friday. Nikkei in this morning session has a loss of nearly 300 points. All Asin pears are trading in red.
Nifty likely to test 4500 in opening. The crucial level of 4450 which one should be protected to hold the hope for bulls is very near. Breaking the key level may give some panic to give up another 200 points in Nifty in coming sessions. There is also resistance at 4730 on the upside.
Nifty June 2008 futures were at 4613.80, at a discount of 14 points as compared to spot closing of 4627.80.
The NSE's futures & options (F&O) segment turnover was Rs 42,888.38 crore, which was lower than Rs 51,017.90 crore on Thursday, 5 June 2008.
Weak market breadth at NSE, 440:734
FIIs were net buyers for 76 crores and DIIS' net buying was for 400 crores according to NSE provisional data.
The record crude oil price triggered the sell of in the global markets. The single day price hike was $ 10.75 a barrel. The high price quited at $ 138.80 and settled at 138.54
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