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Dealer’s Diary
Indian markets are headed for a lower opening, tracing weakness across Asian
markets. The domestic indices tumbled sharply yesterday and settled at two-year
lows as accelerated selling by the FIIs dragged the bourses. Weak manufacturing
data from China, lowest in 32 months also caused weakness across major Asian
bourses.
Global cues continued to remain fragile. The European markets extended losses
as Germany's 10-year bond sale failed to receive sufficient demand from
investors, indicating that debt crisis woes are likely to grapple even the strongest
economies in the Eurozone. Major US indices too ended on a negative note
reacting to weak cues from the Eurozone.
The domestic indices have been slaughtered, with many stocks reaching new
lows. Chances of broad based recovery remain mixed as reposing of FII
confidence and positive cues across the globe weigh heavily on the market.
Political developments will also play its part – Cabinet is scheduled to discuss FDI
in multi-brand retail today which could turn tables for retail sector.
Markets Today
The trend deciding level for the day is 15,716/ 4,706 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 15,953 – 16,207 / 4,777 – 4,848 levels. However, if NIFTY
trades below 15,716/ 4,706 levels for the first half-an-hour of trade then it may
correct up to 15,463 – 15,225 / 4,638 – 4,570 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
Indian markets are headed for a lower opening, tracing weakness across Asian
markets. The domestic indices tumbled sharply yesterday and settled at two-year
lows as accelerated selling by the FIIs dragged the bourses. Weak manufacturing
data from China, lowest in 32 months also caused weakness across major Asian
bourses.
Global cues continued to remain fragile. The European markets extended losses
as Germany's 10-year bond sale failed to receive sufficient demand from
investors, indicating that debt crisis woes are likely to grapple even the strongest
economies in the Eurozone. Major US indices too ended on a negative note
reacting to weak cues from the Eurozone.
The domestic indices have been slaughtered, with many stocks reaching new
lows. Chances of broad based recovery remain mixed as reposing of FII
confidence and positive cues across the globe weigh heavily on the market.
Political developments will also play its part – Cabinet is scheduled to discuss FDI
in multi-brand retail today which could turn tables for retail sector.
Markets Today
The trend deciding level for the day is 15,716/ 4,706 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 15,953 – 16,207 / 4,777 – 4,848 levels. However, if NIFTY
trades below 15,716/ 4,706 levels for the first half-an-hour of trade then it may
correct up to 15,463 – 15,225 / 4,638 – 4,570 levels.
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