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Dealer’s Diary
Indian markets are expected to open in the green tracking positive cues from
the Asian markets in opening trade and the rally in US and European stocks.
US markets rallied for a second day on Thursday as Greece backed away
from a proposed referendum. US markets would be eyeing the monthly nonfarm
payroll and unemployment data due for release today. The European
Central Bank provided a happy surprise to investors with a 25bp interest rate
cut, a sign of a more aggressive approach to confront weak growth in the
region. The market had expected rates to remain unchanged.
Investors responded positively as Greek PM George Papandreou, under
pressure from world leaders, climbed down from his proposal of a
referendum on the country's bailout package, providing ruling and
opposition parties strike a deal to resolve the country's political crisis.
European leaders said earlier they were prepared for Greece to leave the
euro zone to preserve their 12-year-old single currency if Athens did not
decide quickly to implement a bailout programme, threatening the likes of
Italy and Spain, and even France.
Markets Today
The trend deciding level for the day is 17,429 / 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 17,580 – 17,678 / 5,298 – 5,329 levels. However, if NIFTY
trades below 17,429 / 5,250 levels for the first half-an-hour of trade then it may
correct up to 17,331– 17,180 / 5,218 – 5,170 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 in the green tracking positive cues from
the Asian markets in opening trade and the rally in US and European stocks.
US markets rallied for a second day on Thursday as Greece backed away
from a proposed referendum. US markets would be eyeing the monthly nonfarm
payroll and unemployment data due for release today. The European
Central Bank provided a happy surprise to investors with a 25bp interest rate
cut, a sign of a more aggressive approach to confront weak growth in the
region. The market had expected rates to remain unchanged.
Investors responded positively as Greek PM George Papandreou, under
pressure from world leaders, climbed down from his proposal of a
referendum on the country's bailout package, providing ruling and
opposition parties strike a deal to resolve the country's political crisis.
European leaders said earlier they were prepared for Greece to leave the
euro zone to preserve their 12-year-old single currency if Athens did not
decide quickly to implement a bailout programme, threatening the likes of
Italy and Spain, and even France.
Markets Today
The trend deciding level for the day is 17,429 / 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 17,580 – 17,678 / 5,298 – 5,329 levels. However, if NIFTY
trades below 17,429 / 5,250 levels for the first half-an-hour of trade then it may
correct up to 17,331– 17,180 / 5,218 – 5,170 levels.
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