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Dealer’s Diary
The Indian markets are expected to open with a negative bias on the back of
negative cues from Asian, European as well as US markets. Asian stocks fell for a
second day after Greek PM George Papandreou pledged to put the European
Union’s agreement on financing for Greece to a referendum and China’s
manufacturing grew at a slower pace.
The US markets closed their best month in 20 years on a down note on Monday
as the failure of trading firm MF Global Holdings and new worries about
Europe's debt crisis hammered financial shares. In a sign that Europe's woes were
far from over, Italian and Spanish bond yields soared, prompting the European
Central Bank to buy the debt, while shares of European banks came under heavy
selling pressure.
The Indian markets would also be watching out for monthly external trade
(due for release today) and Purchasing Managers Index data (Manufacturing
PMI due for today and Services PMI expected on November 5).
Markets Today
The trend deciding level for the day is 17,729 / 5,334 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,789 – 17,874 / 5,353 – 5,379 levels. However, if NIFTY
trades below 17,729 / 5,334 levels for the first half-an-hour of trade then it may
correct up to 17,644– 17,584 / 5,307 – 5,288 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The Indian markets are expected to open with a negative bias on the back of
negative cues from Asian, European as well as US markets. Asian stocks fell for a
second day after Greek PM George Papandreou pledged to put the European
Union’s agreement on financing for Greece to a referendum and China’s
manufacturing grew at a slower pace.
The US markets closed their best month in 20 years on a down note on Monday
as the failure of trading firm MF Global Holdings and new worries about
Europe's debt crisis hammered financial shares. In a sign that Europe's woes were
far from over, Italian and Spanish bond yields soared, prompting the European
Central Bank to buy the debt, while shares of European banks came under heavy
selling pressure.
The Indian markets would also be watching out for monthly external trade
(due for release today) and Purchasing Managers Index data (Manufacturing
PMI due for today and Services PMI expected on November 5).
Markets Today
The trend deciding level for the day is 17,729 / 5,334 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,789 – 17,874 / 5,353 – 5,379 levels. However, if NIFTY
trades below 17,729 / 5,334 levels for the first half-an-hour of trade then it may
correct up to 17,644– 17,584 / 5,307 – 5,288 levels
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