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Dealer’s Diary
The Indian markets are expected to open sideways on the back of mixed cues
from Asian, European as well as US markets. Asian stocks witnessed softened
opening, with the move paring monthly gains made ahead of Europe’s latest
attempt to stem its sovereign-debt crisis. The US markets closed with flattish cues
on Friday, with traders taking a breather following the rally seen in the previous
session. The major averages bounced back and forth across the unchanged line
before ending the session mixed.
The coming week's (November 3rd & 4th) G-20 meeting will essentially be
watched for coordinated efforts or pledges to help stabilize world financial
markets, which have been battered this year by the euro zone debt crisis and a
slowing world economy. A more specific issue, however, will be the extent to
which China and other countries with large fiscal surpluses are willing to fund the
euro zone's rescue fund.
The Indian markets would be watching out for monthly external trade (due
on November 1) and Purchasing Managers Index data (Manufacturing PMI
due on November 1 and Services PMI expected on November 5).
Markets Today
The trend deciding level for the day is 17,795 / 5,361 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,918 – 18,031 / 5,399 – 5,438 levels. However, if NIFTY
trades below 17,795 / 5,361 levels for the first half-an-hour of trade then it may
correct up to 17,681– 17,558 / 5,322 – 5,284 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 sideways on the back of mixed cues
from Asian, European as well as US markets. Asian stocks witnessed softened
opening, with the move paring monthly gains made ahead of Europe’s latest
attempt to stem its sovereign-debt crisis. The US markets closed with flattish cues
on Friday, with traders taking a breather following the rally seen in the previous
session. The major averages bounced back and forth across the unchanged line
before ending the session mixed.
The coming week's (November 3rd & 4th) G-20 meeting will essentially be
watched for coordinated efforts or pledges to help stabilize world financial
markets, which have been battered this year by the euro zone debt crisis and a
slowing world economy. A more specific issue, however, will be the extent to
which China and other countries with large fiscal surpluses are willing to fund the
euro zone's rescue fund.
The Indian markets would be watching out for monthly external trade (due
on November 1) and Purchasing Managers Index data (Manufacturing PMI
due on November 1 and Services PMI expected on November 5).
Markets Today
The trend deciding level for the day is 17,795 / 5,361 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,918 – 18,031 / 5,399 – 5,438 levels. However, if NIFTY
trades below 17,795 / 5,361 levels for the first half-an-hour of trade then it may
correct up to 17,681– 17,558 / 5,322 – 5,284 levels.
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