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Dealer’s Diary
Indian markets are expected to open with a gap down tracking the weak
overnight cues from US and European markets and the persistence of weakness
in the Asian markets in the opening trade. Asian shares have continued their
softening trend and the euro hovered near three-week lows against the dollar on
Wednesday, as investors shed riskier assets after Greece's abrupt call for a
referendum rekindled fears about the viability of last week’s European debt deal.
The global stocks tumbled on Tuesday after investors were blindsided by a
surprise call for a Greek referendum on an EU bailout plan, casting doubt on the
sustainability of the recent market rally. Adding to the gloom, factory activity in
China slowed to the weakest rate in nearly three years in October, while UK
manufacturing suffered a sharp decline, reigniting fears of a global slowdown.
The US Federal Reserve, which began its two-day policy meeting on Tuesday,
could begin to prepare financial markets for further monetary easing, even if it
refrains from any new stimulus just yet. The first rise in India's manufacturing PMI
in the last six months failed to cheer the domestic equities on Tuesday.
Markets Today
The trend deciding level for the day is 17,522 / 5,269 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,621 – 17,761 / 5,300 – 5,342 levels. However, if NIFTY
trades below 17,522 / 5,269 levels for the first half-an-hour of trade then it may
correct up to 17,382– 17,282 / 5,227 – 5,196 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 with a gap down tracking the weak
overnight cues from US and European markets and the persistence of weakness
in the Asian markets in the opening trade. Asian shares have continued their
softening trend and the euro hovered near three-week lows against the dollar on
Wednesday, as investors shed riskier assets after Greece's abrupt call for a
referendum rekindled fears about the viability of last week’s European debt deal.
The global stocks tumbled on Tuesday after investors were blindsided by a
surprise call for a Greek referendum on an EU bailout plan, casting doubt on the
sustainability of the recent market rally. Adding to the gloom, factory activity in
China slowed to the weakest rate in nearly three years in October, while UK
manufacturing suffered a sharp decline, reigniting fears of a global slowdown.
The US Federal Reserve, which began its two-day policy meeting on Tuesday,
could begin to prepare financial markets for further monetary easing, even if it
refrains from any new stimulus just yet. The first rise in India's manufacturing PMI
in the last six months failed to cheer the domestic equities on Tuesday.
Markets Today
The trend deciding level for the day is 17,522 / 5,269 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,621 – 17,761 / 5,300 – 5,342 levels. However, if NIFTY
trades below 17,522 / 5,269 levels for the first half-an-hour of trade then it may
correct up to 17,382– 17,282 / 5,227 – 5,196 levels.
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