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Dealer’s Diary
The Indian markets are expected to open flat with negative bias on the back of
mixed global cues and negative opening in all the Asian markets in the early
market trade. The domestic benchmark indices reversed early gains to end
modestly lower yesterday, as caution set in ahead of IIP data. Negative
European cues also dampened investor sentiment to some extent. Globally,
most of the US and European indices closed in red as caution prevailed ahead
of a crucial vote in Slovakian parliament to approve the expansion of the euro
zone's bailout fund. Slovakia's approval of the rescue fund will give EFSF
powers to recapitalize banks and purchase bonds of troubles economies. Also,
UK’s industrial production number fell more-than-expected by 0.3% in August,
worse than expectations of decline by 0.1%, the third consecutive month of
decline. On the domestic front, the key events to watch out today will be IIP
numbers for August 2011 (Bloomberg estimate – 4.7%) and cues from Infosys
quarterly results. On the global front, Eurozone’s industrial production data will
also be closely watched.
Markets Today
The trend deciding level for the day is 16,607/4,994 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,703–16,871/5,025–5,076 levels. However, if NIFTY
trades below 16,607/4,994 levels for the first half-an-hour of trade then it may
correct up to 16,440–16,344/4,944–4,913 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 flat with negative bias on the back of
mixed global cues and negative opening in all the Asian markets in the early
market trade. The domestic benchmark indices reversed early gains to end
modestly lower yesterday, as caution set in ahead of IIP data. Negative
European cues also dampened investor sentiment to some extent. Globally,
most of the US and European indices closed in red as caution prevailed ahead
of a crucial vote in Slovakian parliament to approve the expansion of the euro
zone's bailout fund. Slovakia's approval of the rescue fund will give EFSF
powers to recapitalize banks and purchase bonds of troubles economies. Also,
UK’s industrial production number fell more-than-expected by 0.3% in August,
worse than expectations of decline by 0.1%, the third consecutive month of
decline. On the domestic front, the key events to watch out today will be IIP
numbers for August 2011 (Bloomberg estimate – 4.7%) and cues from Infosys
quarterly results. On the global front, Eurozone’s industrial production data will
also be closely watched.
Markets Today
The trend deciding level for the day is 16,607/4,994 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,703–16,871/5,025–5,076 levels. However, if NIFTY
trades below 16,607/4,994 levels for the first half-an-hour of trade then it may
correct up to 16,440–16,344/4,944–4,913 levels.
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