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Dealer’s Diary
The market edged higher as firm Asian shares triggered a recovery in battered
Indian shares in early trade. Sensex regained the psychological 16,000 mark
and extended initial gains to hit fresh intraday highs in morning trade. The rally
came ahead of the US Federal Reserve chairman’s optimistic views about US
economy’s growth prospects despite challenges and concerns. The market
breadth remained positive and strengthened in the afternoon trade as
European markets also opened on a firm note. The market further extended
gains in the mid-afternoon trade. Increased buying was witnessed across
majority of the sectors. IT stocks surged on positive comments about US
economy while metal stocks rose as metal prices gained on the LME. Sensex
and Nifty registered gains of around 3.6% each. The mid-cap and small cap
indices also gained 2.5% and 2.1%, respectively. Among the front runners, TCS
JP Associates, Jindal Steel, Tata Steel and L&T gained 5-7%. Among mid-caps,
Bajaj Finservce, Sujana Towers, IFCI, TV18 broadcast, and IVRCL gained 3-5%.
Markets Today
The trend deciding level for the day is 16,316 / 4,887 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,563 – 16,709 / 4,967 – 5,015 levels. However, if NIFTY
trades below 16,316 / 4,887 levels for the first half-an-hour of trade then it
may correct up to 16,169 – 15,922 / 4,839 – 4,758 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market edged higher as firm Asian shares triggered a recovery in battered
Indian shares in early trade. Sensex regained the psychological 16,000 mark
and extended initial gains to hit fresh intraday highs in morning trade. The rally
came ahead of the US Federal Reserve chairman’s optimistic views about US
economy’s growth prospects despite challenges and concerns. The market
breadth remained positive and strengthened in the afternoon trade as
European markets also opened on a firm note. The market further extended
gains in the mid-afternoon trade. Increased buying was witnessed across
majority of the sectors. IT stocks surged on positive comments about US
economy while metal stocks rose as metal prices gained on the LME. Sensex
and Nifty registered gains of around 3.6% each. The mid-cap and small cap
indices also gained 2.5% and 2.1%, respectively. Among the front runners, TCS
JP Associates, Jindal Steel, Tata Steel and L&T gained 5-7%. Among mid-caps,
Bajaj Finservce, Sujana Towers, IFCI, TV18 broadcast, and IVRCL gained 3-5%.
Markets Today
The trend deciding level for the day is 16,316 / 4,887 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,563 – 16,709 / 4,967 – 5,015 levels. However, if NIFTY
trades below 16,316 / 4,887 levels for the first half-an-hour of trade then it
may correct up to 16,169 – 15,922 / 4,839 – 4,758 levels.
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