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Dealer’s Diary
Indian markets are poised for a lower opening following weakness across
Asian markets following overnight reactions from the Wall Street. The
domestic indices snapped an eight-session losing streak yesterday as bargain
hunting emerged after a recent steep slide in share prices. A rally in
European stocks aided recovery on the domestic bourses, with Sensex
regaining the psychological 16,000 mark.
Global cues; however, continued to remain weak. The European markets
declined after an early rally, driven by dismal Spanish bond auction indicting
persisting debt crises. Major US indices too ended on a negative note,
reacting to disappointing third quarter GDP data.
The domestic bourses are expected to remain volatile on the back of global
issues as well as concerns on the domestic macro-environment. With first day
of the parliament’s winter session adjourned due to disruptions, the policy
making efforts could go into a tailspin. The markets will quietly take cues
from political developments, in addition to commentary from Euro-zone
which will remain as an overhang.
Markets Today
The trend deciding level for the day is 16,083/ 4,816 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,196 – 16,326 / 4,850 – 4,888 levels. However, if NIFTY
trades below 16,083/ 4,816 levels for the first half-an-hour of trade then it may
correct up to 15,953 – 15,840 / 4,779 – 4,745 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
Indian markets are poised for a lower opening following weakness across
Asian markets following overnight reactions from the Wall Street. The
domestic indices snapped an eight-session losing streak yesterday as bargain
hunting emerged after a recent steep slide in share prices. A rally in
European stocks aided recovery on the domestic bourses, with Sensex
regaining the psychological 16,000 mark.
Global cues; however, continued to remain weak. The European markets
declined after an early rally, driven by dismal Spanish bond auction indicting
persisting debt crises. Major US indices too ended on a negative note,
reacting to disappointing third quarter GDP data.
The domestic bourses are expected to remain volatile on the back of global
issues as well as concerns on the domestic macro-environment. With first day
of the parliament’s winter session adjourned due to disruptions, the policy
making efforts could go into a tailspin. The markets will quietly take cues
from political developments, in addition to commentary from Euro-zone
which will remain as an overhang.
Markets Today
The trend deciding level for the day is 16,083/ 4,816 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,196 – 16,326 / 4,850 – 4,888 levels. However, if NIFTY
trades below 16,083/ 4,816 levels for the first half-an-hour of trade then it may
correct up to 15,953 – 15,840 / 4,779 – 4,745 levels.
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