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Dealer’s Diary
The Indian markets are expected to open in green tracing firmness across Asian
markets in the early market trade. The domestic indices retreated and closed in
red yesterday on worries over data showing stepping up of food inflation, which
raised prospects of further rate hikes from RBI to halt inflation. Weak opening of
European bourses also added to the negative sentiments.
Global cues remain mixed which resulted to volatile trading in the US markets.
Stocks showed a lack of direction throughout the trading session as US bourses
reacted to every headline out of Europe. The indices moved back and forth
across the base line before eventually ending the session mixed.
On the domestic front, crucial corporate earnings season has gathered steam.
No major negative surprise so far has retained the investor confidence in
markets. Nonetheless, inflationary pressures continue to haunt thereby affecting
rate sensitive stocks. In addition, development in global cues, mainly from the
outcome of meeting of the leaders of Euro Countries on 23rd October regarding
the increase in the proposed bailout fund, is expected to provide further direction
to the markets. Any Increase in EFSF will be taken in positively and is expected to
support the rally that has been witnessed in stock markets recently.
Markets Today
The trend deciding level for the day is 16,881/5,075 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,018 – 17,098 / 5,116 – 5,140 levels. However, if NIFTY
trades below 16,881/5,075 levels for the first half-an-hour of trade then it may
correct up to 16,801– 16,664 / 5,051 – 5,010 levels.
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 open in green tracing firmness across Asian
markets in the early market trade. The domestic indices retreated and closed in
red yesterday on worries over data showing stepping up of food inflation, which
raised prospects of further rate hikes from RBI to halt inflation. Weak opening of
European bourses also added to the negative sentiments.
Global cues remain mixed which resulted to volatile trading in the US markets.
Stocks showed a lack of direction throughout the trading session as US bourses
reacted to every headline out of Europe. The indices moved back and forth
across the base line before eventually ending the session mixed.
On the domestic front, crucial corporate earnings season has gathered steam.
No major negative surprise so far has retained the investor confidence in
markets. Nonetheless, inflationary pressures continue to haunt thereby affecting
rate sensitive stocks. In addition, development in global cues, mainly from the
outcome of meeting of the leaders of Euro Countries on 23rd October regarding
the increase in the proposed bailout fund, is expected to provide further direction
to the markets. Any Increase in EFSF will be taken in positively and is expected to
support the rally that has been witnessed in stock markets recently.
Markets Today
The trend deciding level for the day is 16,881/5,075 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,018 – 17,098 / 5,116 – 5,140 levels. However, if NIFTY
trades below 16,881/5,075 levels for the first half-an-hour of trade then it may
correct up to 16,801– 16,664 / 5,051 – 5,010 levels.
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