Asian Markets update: Nikkei Index down 3.2% and Hang Seng Index down 4.2%

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Pre Market Intraday Call !!

Sell Adlabs

Sell SBI

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Pre Market Commentary ..

Today,the market is set to open in the red. Don’t expect too much of a bounce back soon as the Dubai debt issue could have a cascading impact as more clarity sets in. Stay light and reduce your exposure for the time being. Bargain hunting could wait till next week. It was the expiry of bullishness on every Street. That sinking feeling came yet again as debt problems in Dubai took its toll on financial markets world over. Safe-haven bonds rose and the rupee fell against the dollar.

US markets were closed for Thanksgiving and today is Black Friday, the day after Thanksgiving in the US. The day marks the beginning of the traditional Christmas shopping season. US investors would probably find discount sales during the truncated session. The debate of whether we are out of the woods or not will gain momentum again. In what appears to be the biggest sovereign default since Argentina in 2001, Dubai has sought debt standstill agreement at its Dubai World holding company or in other words, a six-month reprieve on debt payments.

IDBI Bank hopes to receive Rs80bn of fresh capital from the government over the next three years. (BS)

Tata Motors to roll-out hybrid buses for the domestic market in next few years. (BS)

Wipro inaugurates its global delivery center in China to provide IT and BPO services to its customers. (BS)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS


GAIL
EIH
HUL
BAJAJ AUTO
SESA GOA

NEGATIVE BREAKOUTS


TTML
WEL GUJ
ESSAR OIL
EDUCOMP
BIOCON

NIFTY (5005) SUP 4905 RES 5105

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सेन्सेक्स (16854.93) -344.02 अंक गिरकर, नीफ़्टी (5005.55) -102.60 अंक गिरकर, बंद..

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European markets update: FTSE Index down 0.5%, CAC Index down 0.6% and DAX Index down 0.6%

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Intraday : Buy India Cement at 113 SL 107 Tgt 118,120.

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Sesa Goa : Our delivery call trading strong, hold for 400 and 500 in next 90days.

TRADING STRONG

Pre Market Commentary ...

Today, we expect a flat open with no clear signals from the global markets. The usual choppiness associated with the F&O expiry will be there though the bias remains mostly positive. Asian markets are mixed. A bigger-than-expected drop in weekly jobless claims added some cheer to US markets, which will remain closed today for Thanksgiving.


A year has passed by after the tragedy in Mumbai. The city and the market have moved on in what is often summed up as the indomitable spirit. It’s Thanksgiving on every street for the bulls. November series has seen some good long positions. The Nifty December series is showing a long build-up after it closed at 12 points premium to the spot.



Stock exchanges may put their plans to extend trading hours on the back-burner following lack of consensus. The only consensus for now seems to be that indices will hit a new year-high in December series. Index heavyweights like Reliance will hog the limelight for the day. The rising market is also bringing in illiquid stocks back into trade, some after a decade. Avoid these counters.

Pre Market Intraday Call !!

Buy Bajaj Auto

Buy EKC

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Suzlon Energy Ltd. said the company’s arm, Suzlon Energy Australia has received 42MW orders from Australia’s Infigen Energy. (DNA)

IDBI Bank has said that the bank has identified a potential merger target. (BS)

NTPC said it would take at least 6 years to set up proposed 4000MW plant envisaging an investment of about Rs180bn in Bundelkhand region. (BL)

POSITIVE & NEGATIVE BREAKOUTS

POSITIVE BREAKOUTS

TATA STEEL
BAJAJ HIND
BOB
GRASIM
ABAN


NEGATIVE BREAKOUTS

BHARTI AIRTEL
DLF
JP ASSO
YES BANK
BALRAMPUR CHINI

NIFTY (5108) SUP 5008 RES 5208

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सेन्सेक्स (17198.95) 67.87 अंक चढ्कर, नीफ़्टी (5108.15) 17.60 अंक चढ्कर, बंद..

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