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Dealer’s Diary
We expect domestic markets which had made new lows on Wednesday, to
open gap-up following positive global market cues. The coordinated efforts by
European Central Bank (ECB) and Bank of England (BoE) to fix the financial
crisis and revive economy led to global markets rallying (DAX was up 3.2% and
Dow up 1.7%). Earlier on Thursday, BoE announced injection of £75bn into the
economy through its Quantitative Easing (QE) program which amounts a
substantial 2.5% of its GDP. This sets a precedent to other Euro zone countries
to come out with similar packages to bail themselves out. Similar measures by
the US Fed in March 2009 had bailed out the global economy. European
Central Bank (ECB) also announced that it will buy EUR40bn worth of covered
bonds, considered to be an important source of long-term funding for the
European banking sector. The markets will also be watching out for the US
nonfarm-payrolls report (to be released today) for trends on US growth
outlook.
Markets Today
The trend deciding level for the day is 15,866/4,773 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 15,971–16,150/4,806–4,860 levels. However, if NIFTY
trades below 15,866/4,773 levels for the first half-an-hour of trade then it may
correct up to 15,687–15,582/4,719–4,687 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
We expect domestic markets which had made new lows on Wednesday, to
open gap-up following positive global market cues. The coordinated efforts by
European Central Bank (ECB) and Bank of England (BoE) to fix the financial
crisis and revive economy led to global markets rallying (DAX was up 3.2% and
Dow up 1.7%). Earlier on Thursday, BoE announced injection of £75bn into the
economy through its Quantitative Easing (QE) program which amounts a
substantial 2.5% of its GDP. This sets a precedent to other Euro zone countries
to come out with similar packages to bail themselves out. Similar measures by
the US Fed in March 2009 had bailed out the global economy. European
Central Bank (ECB) also announced that it will buy EUR40bn worth of covered
bonds, considered to be an important source of long-term funding for the
European banking sector. The markets will also be watching out for the US
nonfarm-payrolls report (to be released today) for trends on US growth
outlook.
Markets Today
The trend deciding level for the day is 15,866/4,773 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 15,971–16,150/4,806–4,860 levels. However, if NIFTY
trades below 15,866/4,773 levels for the first half-an-hour of trade then it may
correct up to 15,687–15,582/4,719–4,687 levels.
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