Friday, November 6, 2009
NIFTY (4765) SUP 4665 RES 4865
Thursday, November 5, 2009
सेन्सेक्स (16063.90) 151.77 अंक चढ्कर, नीफ़्टी (4765.55) 54.75 अंक चढ्कर, बंद..
European markets update: FTSE Index down 0.9%, CAC Index down 1% and DAX Index down 1%
India September tea exports fall 5%
Delivery Call : Buy Welspun Guj at 254 SL 217 Tgt 267,277. Hold for 7 days.
Pre Market Commentary...
Today,we expect a flat to slightly lower start as Asian markets are in the red and US stocks could not hold on to intra-day gains. Wild gyrations are a given as the market consolidates after hitting multi-month highs last month. Stay highly alert as the near-term outlook remains murky and volatility is likely to persist for a while. Bulls and bears cannot arrive at a conclusion though both appear to be tired. How else will you explain the sharp swing in the last two days?
Technically, 4600 could prove to be a major support for the Nifty. Again there is nothing sacrosanct as further falls cannot be ruled out. On the upside, the bulls could face stiff resistance at around 4720-4830. Over the long-term, things should continue to look up as the recovery will meet with periodic bumps.A couple of labor market reports signal that the pace of layoffs in the US is slowing.
All eyes are on Friday’s monthly numbers. Cisco results have surpassed consensus estimates. The Bank of England (BOE) and ECB will announce their latest policy decisions later today.
Pre Market Intraday Call !!
Buy Bhusan steel
Buy Jindal Saw
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POSITIVE & NEGATIVE BREAKOUTS
RANBAXY LABS
PIRAMAL HEALTHCARE
UNITED SPIRITS
BHARAT ELECTRONICS
GTL
NEGATIVE BREAKOUTS
CESC
ANDHRA BANK
BALRAMPUR CHINI
AXIS BANK
STERLITE IND
FIIs were net buyers in the cash segment on Wednesday at Rs2.34bn
FIIs were net buyers in the cash segment on Wednesday at Rs2.34bn on a provisional basis. The local funds were net buyers of Rs5.57bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs26.39bn. On Tuesday, the foreign funds were net buyers of Rs3bn in the cash segment. FIIs' net investments in Indian stocks this year is above $14bn.
NIFTY (4710) SUP 4610 RES 4810
Wednesday, November 4, 2009
सेन्सेक्स (15912.13) 507.19 अंक चढ्कर, नीफ़्टी (4710.80) 146.90 अंक चढ्कर, बंद..
European markets update: FTSE Index up 0.7%, CAC Index up 0.9% and DAX Index up 1.1%
Delivery call : Buy Bank Of India at 346 SL 339 Tgt 359,364.Hold for 7 days.
Market Commentary ...
Today,the bulls seem to have lost courage as bears put on their horror Halloween masks and scared the wits out of the bulls. Another rate hike by Australia; a big loss for UBS and a massive shake up of UK banks spooked sentiment globally. Warren Buffett's blockbuster deal for Burlington Northern Santa Fe could provide bulls some cheer. At the same time the latest chart patterns for the S&P 500 suggest that the uptrend may be running out of gas.
All eyes and ears will be on the tone of central banks in US, UK and EU. Most of them may refrain from action in terms of raising rates. Back home, the FM has reiterated that he is in no hurry to reverse the fiscal stimulus. Disinvestment would happen when the market offers the best possible value.
Technically though, the bulls could lose some more ground. On the downside, support may kick in at 4,450. On the way up, 4630-4650 could prove to be tricky levels to surpass. We expect a slight rebound at start followed by another choppy session.
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