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Dealer’s Diary
Indian markets are headed for a flat opening tracing softness in Asian markets
which have been range bound in today’s morning trade session. The domestic
indices tumbled sharply yesterday on worries over domestic growth and ongoing
concerns in Euro-zone as well as stalemate budget talks in the U.S. Congress. In
addition, data showing broad-based sell-offs by FII’s adversely dragged the
Sensex below the psychological 16,000 mark.
Global markets too depicted considerable weakness. The European markets
continued to decline on Monday as global debt worries weighed on equities.
Moody's warning to France over a possible downgrade of its AAA rating also
weighed on the bourses. Major US indices also ended sharply lower, reacting to
reports that US lawmakers would likely not be able to resolve a dispute over
taxes and spending cuts until 2013.
The domestic bourses have corrected significantly amid concerns on global as
well as domestic front. With the onset of parliament’s winter session, investors will
closely watch out for crucial bills to be passed. The Mines and Mineral
(Development and Regulation) bill proposed to set up a benefit sharing regime
for mining companies will weigh heavily on the mining sector.
Markets Today
The trend deciding level for the day is 16,048/ 4,806 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,195 – 16,445 / 4,847 – 4,915 levels. However, if NIFTY
trades below 16,048/ 4,806 levels for the first half-an-hour of trade then it may
correct up to 15,799 – 15,651 / 4,738 – 4,697 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
Indian markets are headed for a flat opening tracing softness in Asian markets
which have been range bound in today’s morning trade session. The domestic
indices tumbled sharply yesterday on worries over domestic growth and ongoing
concerns in Euro-zone as well as stalemate budget talks in the U.S. Congress. In
addition, data showing broad-based sell-offs by FII’s adversely dragged the
Sensex below the psychological 16,000 mark.
Global markets too depicted considerable weakness. The European markets
continued to decline on Monday as global debt worries weighed on equities.
Moody's warning to France over a possible downgrade of its AAA rating also
weighed on the bourses. Major US indices also ended sharply lower, reacting to
reports that US lawmakers would likely not be able to resolve a dispute over
taxes and spending cuts until 2013.
The domestic bourses have corrected significantly amid concerns on global as
well as domestic front. With the onset of parliament’s winter session, investors will
closely watch out for crucial bills to be passed. The Mines and Mineral
(Development and Regulation) bill proposed to set up a benefit sharing regime
for mining companies will weigh heavily on the mining sector.
Markets Today
The trend deciding level for the day is 16,048/ 4,806 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,195 – 16,445 / 4,847 – 4,915 levels. However, if NIFTY
trades below 16,048/ 4,806 levels for the first half-an-hour of trade then it may
correct up to 15,799 – 15,651 / 4,738 – 4,697 levels.
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