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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 and the strong gains logged by US & European
markets on Friday. The domestic indices retreated and closed in red on Friday as
investors turned cautious ahead of Sunday's meeting of European leaders. Also,
the INR fell to a 30-month low past the 50 per US$ level for the first time in more
than two years.
Global cues remain mixed on the outcome of European summit. European
leaders on Sunday ruled out tapping the European Central Bank’s balance sheet
to boost the region’s rescue fund and outlined plans to aid banks, inching toward
a revamped strategy to contain the Greece-fueled debt crisis.
On the domestic front, crucial corporate earnings season has gathered steam.
The street would also be keeping a close eye on the RBI’s monetary policy review
scheduled for Tuesday (October 25, 2011) where a 25bp hike is already factored
in by the markets, in our view. No major negative surprise so far has retained the
investor confidence in markets.
Markets Today
The trend deciding level for the day is 16,857/5,070 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,961 – 17,137 / 5,101 – 5,152 levels. However, if NIFTY
trades below 16,857/5,070 levels for the first half-an-hour of trade then it may
correct up to 16,681– 16,577 / 5,018 – 4,987 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 and the strong gains logged by US & European
markets on Friday. The domestic indices retreated and closed in red on Friday as
investors turned cautious ahead of Sunday's meeting of European leaders. Also,
the INR fell to a 30-month low past the 50 per US$ level for the first time in more
than two years.
Global cues remain mixed on the outcome of European summit. European
leaders on Sunday ruled out tapping the European Central Bank’s balance sheet
to boost the region’s rescue fund and outlined plans to aid banks, inching toward
a revamped strategy to contain the Greece-fueled debt crisis.
On the domestic front, crucial corporate earnings season has gathered steam.
The street would also be keeping a close eye on the RBI’s monetary policy review
scheduled for Tuesday (October 25, 2011) where a 25bp hike is already factored
in by the markets, in our view. No major negative surprise so far has retained the
investor confidence in markets.
Markets Today
The trend deciding level for the day is 16,857/5,070 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,961 – 17,137 / 5,101 – 5,152 levels. However, if NIFTY
trades below 16,857/5,070 levels for the first half-an-hour of trade then it may
correct up to 16,681– 16,577 / 5,018 – 4,987 levels.
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