25 March 2011

Angel Broking Market Outlook India Research March 25, 2011

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Dealer’s Diary

The market opened on a firm note aided by positive Asian equities and fall in
crude oil prices. A bout of volatility was witnessed as the key benchmark indices
recovered after paring gains from one-week highs in mid-morning trade. The
market held firm in mid-morning trade but soon pared gains. The market
recovered in early afternoon trade but again pared gains in afternoon trade as
rise in food inflation worried investors. However, the market soon came off lows
to end the trading session on a firm note. The Sensex and Nifty closed with
gains of 0.8% each, while the mid-cap and small-cap indices closed with gains
of 0.8% and 0.7%, respectively. Among the front liners, Hindalco Inds,
Mahindra & Mahindra, BHEL, TCS and  Jaiprakash Associates gained 2–4%,
while Maruti Suzuki, Bajaj Auto, Hindustan Unilever, RIL and DLF lost 0–1%.
Among mid caps, Prestige Estates, Techno Electric and Engineering, Shree
Ashtavinayak, Raymond and Parsvnath Developers gained 6–15%, while Shree
Global Tradefin, Hathway Cable, KGN  Industries, Kirloskar Oil Engines and
Simplex Infra lost 3–8%.

Markets Today
The trend deciding level for the day is 18,331/5,516 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,393–18,436/5,536-5,549 levels. However, if NIFTY
trades below 18,331/5,516 levels for the first half-an-hour of trade then it may
correct up to 18,289–18,227/5,503-5,483 levels.



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