25 November 2011

MARKET REPORT - November 25, 2011: Angel Broking

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Dealer’s Diary
Indian markets are headed for a flattish opening following mild weakness across
Asian markets. The domestic indices edged higher after a choppy trade yesterday
over reports that showed easing of food inflation on a yearly basis. An early rally
in European stocks also aided partially recovery in the stocks.
Global cues remain mixed. The European markets declined after an early rally as
Germany differed on views over Euro bonds. German reluctance to backstop the
debt of Eurozone has raised concerns that borrowing costs for the member
countries will continue to rise. US bourses remain closed on account of
ThanksGiving holiday.
The domestic bourses have slightly gained after extending recent steep losses.
Policies initiatives are gaining traction, with approval for 51% FDI in multi brand
retail and 100% in single brand retail. Thus, markets are likely to cheer the news;
nonetheless they will struggle to find direction as global issues are worsening day
by day.
Markets Today
The trend deciding level for the day is 15,747 / 4,722 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,013 – 16,168 / 4,805 – 4,854 levels. However, if NIFTY
trades below 15,747 / 4,722 levels for the first half-an-hour of trade then it may
correct up to 15,592 – 15,325 / 4,673 – 4,590 levels.

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