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Dealer’s Diary
The Indian markets are expected to open in the green on the back of mixed cues
from Asian markets and positive cues from European and US stocks, bumping
the benchmark indices against their early-August highs, as talk of a bigger
bailout fund in Europe, an improvement in China manufacturing data, some US
deal announcements, and strong US corporate earnings kept investor sentiment
afloat.
In European markets, concrete decisions to combat the sovereign debt crisis have
yet to be communicated. However, statements that were made by European
leaders following the EU summit over the weekend were positively received by the
market. Investors will now await the result of the second summit, which will take
place on Wednesday.
The street would also be keeping a close eye on the today’s RBI’s monetary policy
review where a 25bp hike is already factored in by the markets, in our view. We
believe this hike would be a final one in the current interest rate cycle on the back
of expectation of moderation in inflation. No major negative surprise so far has
retained the investor confidence in markets.
Markets Today
The trend deciding level for the day is 16,981/5,110 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,063 – 17,187 / 5,134 – 5,170 levels. However, if NIFTY
trades below 16,981/5,110 levels for the first half-an-hour of trade then it may
correct up to 16,857– 16,775 / 5,074 – 5,049 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 the green on the back of mixed cues
from Asian markets and positive cues from European and US stocks, bumping
the benchmark indices against their early-August highs, as talk of a bigger
bailout fund in Europe, an improvement in China manufacturing data, some US
deal announcements, and strong US corporate earnings kept investor sentiment
afloat.
In European markets, concrete decisions to combat the sovereign debt crisis have
yet to be communicated. However, statements that were made by European
leaders following the EU summit over the weekend were positively received by the
market. Investors will now await the result of the second summit, which will take
place on Wednesday.
The street would also be keeping a close eye on the today’s RBI’s monetary policy
review where a 25bp hike is already factored in by the markets, in our view. We
believe this hike would be a final one in the current interest rate cycle on the back
of expectation of moderation in inflation. No major negative surprise so far has
retained the investor confidence in markets.
Markets Today
The trend deciding level for the day is 16,981/5,110 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,063 – 17,187 / 5,134 – 5,170 levels. However, if NIFTY
trades below 16,981/5,110 levels for the first half-an-hour of trade then it may
correct up to 16,857– 16,775 / 5,074 – 5,049 levels.
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