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Dealer’s Diary
Indian markets are expected to open flat or in the red tracking mixed cues from
the Asian markets in opening trade and the fresh concerns arising from the
sovereign crisis in Europe.
The political situation in Greece has eased a bit following the announcement of
stepping down of the Greek Prime Minister after abandoning his call a week ago
for a referendum on the European Union debt-relief plan and formation of a
transitional government, which would ease investor sentiments. However, the
focus of investor concern has now shifted to Italy where the yield spreads have
climbed to record high levels as speculation over Italian prime minister’s
resignation and whether the third-largest economy in the euro area can continue
to pay its debts gained impetus. The yield spreads of Italian government bonds to
German bonds climbed to record high levels, leading to the most European
markets closing in the red on Monday.
Although the US markets closed higher, there was considerable volatility over the
course of the trading day as investors once again focused on the latest headlines
out of Europe.
Markets Today
The trend deciding level for the day is 17,580/5,289 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,685 – 17,808/5,322 – 5,359 levels. However, if NIFTY
trades below 17,580 / 5,289 levels for the first half-an-hour of trade then it may
correct up to 17,457– 17,352/5,252 – 5,220 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 flat or in the red tracking mixed cues from
the Asian markets in opening trade and the fresh concerns arising from the
sovereign crisis in Europe.
The political situation in Greece has eased a bit following the announcement of
stepping down of the Greek Prime Minister after abandoning his call a week ago
for a referendum on the European Union debt-relief plan and formation of a
transitional government, which would ease investor sentiments. However, the
focus of investor concern has now shifted to Italy where the yield spreads have
climbed to record high levels as speculation over Italian prime minister’s
resignation and whether the third-largest economy in the euro area can continue
to pay its debts gained impetus. The yield spreads of Italian government bonds to
German bonds climbed to record high levels, leading to the most European
markets closing in the red on Monday.
Although the US markets closed higher, there was considerable volatility over the
course of the trading day as investors once again focused on the latest headlines
out of Europe.
Markets Today
The trend deciding level for the day is 17,580/5,289 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,685 – 17,808/5,322 – 5,359 levels. However, if NIFTY
trades below 17,580 / 5,289 levels for the first half-an-hour of trade then it may
correct up to 17,457– 17,352/5,252 – 5,220 levels.
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