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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 most of the Asian markets in the
early market trade. The domestic benchmark indices fell modestly yesterday as
profit taking happened after recent sharp gains and caution ahead of
September inflation data. Global cues were mixed with most of the US and
European indices closed in red as weak trade data from China dragged down
commodities, which led to renewed concerns about the outlook for global
demand. Also, S&P has cut Spain’s credit rating by one level to AA- with a
weak outlook. Meanwhile, the Slovakian parliament has passed a measure
approving an expansion of the EFSF bailout fund. On the domestic front, the
key event to watch out today will be inflation number for September 2011. On
the global front, the US retail sales data for September 2011 will be on the
radar as well.
Markets Today
The trend deciding level for the day is 16,941/5,094 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,027–17,171/5,121–5,163 levels. However, if NIFTY
trades below 16,941/5,094 levels for the first half-an-hour of trade then it may
correct up to 16,797–16,711/5,051–5,025 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 most of the Asian markets in the
early market trade. The domestic benchmark indices fell modestly yesterday as
profit taking happened after recent sharp gains and caution ahead of
September inflation data. Global cues were mixed with most of the US and
European indices closed in red as weak trade data from China dragged down
commodities, which led to renewed concerns about the outlook for global
demand. Also, S&P has cut Spain’s credit rating by one level to AA- with a
weak outlook. Meanwhile, the Slovakian parliament has passed a measure
approving an expansion of the EFSF bailout fund. On the domestic front, the
key event to watch out today will be inflation number for September 2011. On
the global front, the US retail sales data for September 2011 will be on the
radar as well.
Markets Today
The trend deciding level for the day is 16,941/5,094 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,027–17,171/5,121–5,163 levels. However, if NIFTY
trades below 16,941/5,094 levels for the first half-an-hour of trade then it may
correct up to 16,797–16,711/5,051–5,025 levels.
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