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Dealer’s Diary
Indian markets are expected to have weak opening, taking cues from gap down
opening in all Asian markets and negative closing in global markets on
Wednesday. The Indian markets continued to fall for the fifth consecutive session
yesterday, as speculation remained that French government bonds may be
downgraded in a stressed economic scenario and concerns prevailed regarding
domestic inflation and IIP.
Global markets fell in the yesterday’s trading session, even when US IIP for
October 2011 came in higher than expected at 0.7%, because Fitch Ratings
signaled trouble for U.S. banks if the debt contagion continues to spread beyond
the stressed European markets such as Greece, Ireland, Italy, Portugal and
Spain. Disappointing Spanish GDP data growth of being flat qoq also generated
some negative sentiment showing stagnant economic activity.
Meanwhile, today investors will keenly watch out for retail sales data of UK for
October 2011 and initial jobless claims from US of the previous week.
Markets Today
The trend deciding level for the day is 16,765/5,028 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,889–17,002/5,067–5,104 levels. However, if NIFTY trades
below 16,765/5,028 levels for the first half-an-hour of trade then it may correct
up to 16,652–16,529/5,992–4,953 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 have weak opening, taking cues from gap down
opening in all Asian markets and negative closing in global markets on
Wednesday. The Indian markets continued to fall for the fifth consecutive session
yesterday, as speculation remained that French government bonds may be
downgraded in a stressed economic scenario and concerns prevailed regarding
domestic inflation and IIP.
Global markets fell in the yesterday’s trading session, even when US IIP for
October 2011 came in higher than expected at 0.7%, because Fitch Ratings
signaled trouble for U.S. banks if the debt contagion continues to spread beyond
the stressed European markets such as Greece, Ireland, Italy, Portugal and
Spain. Disappointing Spanish GDP data growth of being flat qoq also generated
some negative sentiment showing stagnant economic activity.
Meanwhile, today investors will keenly watch out for retail sales data of UK for
October 2011 and initial jobless claims from US of the previous week.
Markets Today
The trend deciding level for the day is 16,765/5,028 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,889–17,002/5,067–5,104 levels. However, if NIFTY trades
below 16,765/5,028 levels for the first half-an-hour of trade then it may correct
up to 16,652–16,529/5,992–4,953 levels.
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