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Dealer’s Diary
Indian markets are expected to open sideways tracking mixed cues from the
markets worldwide. While the shift in epicenter of euro zone crisis from Greece to
Italy have raised fresh concerns for investors and led to sharp fall in indices
worldwide on Wednesday, news of a successful bond auction in Italy pulling the
yield on Italy's ten-year bond back below 7% and election of former European
Central Bank Vice President Lucas Papademos as Greece's new prime minister
helped the markets relax and close mostly higher on Thursday.
The rebound in US stocks was also aided by better than expected economic data
from the US on Thursday. The jobless claims fell unexpectedly to 390,000 from
the previous week's revised figure of 400,000, while a separate report showed
that the U.S. trade deficit unexpectedly narrowed in September, as the value of
exports increased at a much faster rate than the value of imports.
Meanwhile, Indian investors will keenly watch out for the IIP and the weekly
inflation figures due today, which are expected to give more clarity to the
domestic markets in the coming days.
Markets Today
The trend deciding level for the day is 17,451/5,250 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,570 – 17,778/5,288 – 5,356 levels. However, if NIFTY
trades below 17,451/ 5,250 levels for the first half-an-hour of trade then it may
correct up to 17,243– 17,123/5,183 – 5,144 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
Indian markets are expected to open sideways tracking mixed cues from the
markets worldwide. While the shift in epicenter of euro zone crisis from Greece to
Italy have raised fresh concerns for investors and led to sharp fall in indices
worldwide on Wednesday, news of a successful bond auction in Italy pulling the
yield on Italy's ten-year bond back below 7% and election of former European
Central Bank Vice President Lucas Papademos as Greece's new prime minister
helped the markets relax and close mostly higher on Thursday.
The rebound in US stocks was also aided by better than expected economic data
from the US on Thursday. The jobless claims fell unexpectedly to 390,000 from
the previous week's revised figure of 400,000, while a separate report showed
that the U.S. trade deficit unexpectedly narrowed in September, as the value of
exports increased at a much faster rate than the value of imports.
Meanwhile, Indian investors will keenly watch out for the IIP and the weekly
inflation figures due today, which are expected to give more clarity to the
domestic markets in the coming days.
Markets Today
The trend deciding level for the day is 17,451/5,250 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,570 – 17,778/5,288 – 5,356 levels. However, if NIFTY
trades below 17,451/ 5,250 levels for the first half-an-hour of trade then it may
correct up to 17,243– 17,123/5,183 – 5,144 levels.
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