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Dealer’s Diary
The Indian markets are poised for a positive opening tracing firm opening in
most of the Asian markets in the early market trade. The domestic benchmark
indices fell second straight day yesterday and touched one-week closing low as
sentiments weakened due to weakness in global shares as uncertainty persisted
over the speedy resolution of eurozone crises.
Global cues remained fragile over concerns about the global economic outlook
after Moody's warned that it may put a negative outlook on France's Aaa credit
rating and China reported a slowdown in third quarter GDP. European bourses
ended on a mixed note. However, US indices closed higher following strong
earnings reports from Bank of America and upbeat data on homebuilder
confidence.
On the domestic front, investors remain cautious and will closely watch out for
the 2QFY2012 corporate earnings as profitability remains a key issue. Poor
quarterly results by IT majors TCS and HCL Technologies have also impacted the
sentiments. In addition, re-ignition of fears that the debt crisis in Europe has
more legs to play out will serve as an overhang.
Markets Today
The trend deciding level for the day is 16,747/5,035 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,826 – 16,903 / 5,060 – 5,082 levels. However, if NIFTY
trades below 16,747/5,035 levels for the first half-an-hour of trade then it may
correct up to 16,670– 16,592 / 5,013 – 4,989 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The Indian markets are poised for a positive opening tracing firm opening in
most of the Asian markets in the early market trade. The domestic benchmark
indices fell second straight day yesterday and touched one-week closing low as
sentiments weakened due to weakness in global shares as uncertainty persisted
over the speedy resolution of eurozone crises.
Global cues remained fragile over concerns about the global economic outlook
after Moody's warned that it may put a negative outlook on France's Aaa credit
rating and China reported a slowdown in third quarter GDP. European bourses
ended on a mixed note. However, US indices closed higher following strong
earnings reports from Bank of America and upbeat data on homebuilder
confidence.
On the domestic front, investors remain cautious and will closely watch out for
the 2QFY2012 corporate earnings as profitability remains a key issue. Poor
quarterly results by IT majors TCS and HCL Technologies have also impacted the
sentiments. In addition, re-ignition of fears that the debt crisis in Europe has
more legs to play out will serve as an overhang.
Markets Today
The trend deciding level for the day is 16,747/5,035 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,826 – 16,903 / 5,060 – 5,082 levels. However, if NIFTY
trades below 16,747/5,035 levels for the first half-an-hour of trade then it may
correct up to 16,670– 16,592 / 5,013 – 4,989 levels
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