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Dealer’s Diary
The market edged lower in early trade but pared gains after a firm start
triggered by higher Asian stocks and easing of global crude oil prices.
The indices rose till mid-morning trade ahead of the Railway Budget and
remained in the positive terrain till the afternoon session. Volatility was
witnessed in the afternoon session, dragging the indices below the baseline.
However, the market recovered after hitting two-week low supported by the
government's forecast of strong 9% economic growth for the year ending March
2012. The market closed on a positive note, with the Sensex and Nifty gaining
0.4% and 0.8%, respectively. The mid-cap and small-cap lost 0.2% and 0.3%,
respectively. Among the front liners, Tata Motors, ICICI Bank, ITC, SBI and
Jindal Steel gained 2–4% while RCOM, Reliance Infra, M&M, Hindalco and
Sterlite lost 2–5%. Among mid caps, SpiceJet, Jet Air India, IVRCL Infra, Treiveni
Engg. and Religare Enterprises gained 5–7%, while Man Infra, IBN Infra,
Coromandel International, Orchid Chemicals and Strides Arcolab lost 5–6%.
Markets Today
The trend deciding level for the day is 17661 / 5292 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17852 – 18004 / 5350 - 5397 levels. However, if NIFTY
trades below 17661 / 5292 levels for the first half-an-hour of trade then it may
correct up to 17510 – 17319 / 5245 - 5186 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market edged lower in early trade but pared gains after a firm start
triggered by higher Asian stocks and easing of global crude oil prices.
The indices rose till mid-morning trade ahead of the Railway Budget and
remained in the positive terrain till the afternoon session. Volatility was
witnessed in the afternoon session, dragging the indices below the baseline.
However, the market recovered after hitting two-week low supported by the
government's forecast of strong 9% economic growth for the year ending March
2012. The market closed on a positive note, with the Sensex and Nifty gaining
0.4% and 0.8%, respectively. The mid-cap and small-cap lost 0.2% and 0.3%,
respectively. Among the front liners, Tata Motors, ICICI Bank, ITC, SBI and
Jindal Steel gained 2–4% while RCOM, Reliance Infra, M&M, Hindalco and
Sterlite lost 2–5%. Among mid caps, SpiceJet, Jet Air India, IVRCL Infra, Treiveni
Engg. and Religare Enterprises gained 5–7%, while Man Infra, IBN Infra,
Coromandel International, Orchid Chemicals and Strides Arcolab lost 5–6%.
Markets Today
The trend deciding level for the day is 17661 / 5292 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17852 – 18004 / 5350 - 5397 levels. However, if NIFTY
trades below 17661 / 5292 levels for the first half-an-hour of trade then it may
correct up to 17510 – 17319 / 5245 - 5186 levels.
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