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Dealer’s Diary
The Indian markets are expected to edge lower with negative bias on the back of
weak global cues and negative opening in most of the Asian markets in the early
market trade. The domestic benchmark indices fell modestly yesterday as profit
taking happened after recent sharp gains and caution ahead of the onset of the
corporate earnings season. Global cues depicted weakness as US and European
indices closed in red. US bourses fell sharply over reports citing weakness in the
US manufacturing sector as well as fragile health of the major banks. Concerns
over the eurozone debt crises also loomed as cautious comments from EU
leaders signaled worries. On the domestic front, corporate earnings season has
gained momentum and will vouch for the direction of the markets in addition to
the developments on the global front.
Markets Today
The trend deciding level for the day is 17,047/5,121 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,166 – 17,308 / 5,157 – 5,197 levels. However, if NIFTY
trades below 17,047/5,121 levels for the first half-an-hour of trade then it may
correct up to 16,906– 16,787 / 5,082 – 5,045 levels.
Indices S2 S1 R1
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The Indian markets are expected to edge lower with negative bias on the back of
weak global cues and negative opening in most of the Asian markets in the early
market trade. The domestic benchmark indices fell modestly yesterday as profit
taking happened after recent sharp gains and caution ahead of the onset of the
corporate earnings season. Global cues depicted weakness as US and European
indices closed in red. US bourses fell sharply over reports citing weakness in the
US manufacturing sector as well as fragile health of the major banks. Concerns
over the eurozone debt crises also loomed as cautious comments from EU
leaders signaled worries. On the domestic front, corporate earnings season has
gained momentum and will vouch for the direction of the markets in addition to
the developments on the global front.
Markets Today
The trend deciding level for the day is 17,047/5,121 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,166 – 17,308 / 5,157 – 5,197 levels. However, if NIFTY
trades below 17,047/5,121 levels for the first half-an-hour of trade then it may
correct up to 16,906– 16,787 / 5,082 – 5,045 levels.
Indices S2 S1 R1
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