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Dealer’s Diary
To begin with, the market came off lows soon after an initial steep slide
triggered by a massive decline in US shares on Monday, August 8, 2011.
Recovery gathered steam in early afternoon trade as the Sensex moved into the
positive zone. Intense volatility in US pre-market trading and initial volatility in
European shares triggered high volatility in Indian shares, which gave up gains
in afternoon trade after a strong intraday rebound. Data showing recent heavy
selling by FIIs and growing fears of another recession in the US weighed on
sentiment. The market once again came off lows in late trade. The Sensex and
Nifty closed down by 0.8% and 0.9%, respectively. The mid-cap and small-cap
indices closed with losses of 1.3% and 2.1%, respectively. Among the front
runners, M&M, DLF, ITC, HDFC and JP Associates gained 2-4%, while Tata
Steel, Tata Motors, TCS, Infosys and Cipla lost 3-5%. Among mid caps, Essar
Ports, Marico, PTC India, Sujana Towers and Apollo Tyres gained 4-7%, while
Gujarat NRE Coke, Aban Offshore, BF Utilities, Sterlite Tech and Persistent
Systems lost 7-14%.
Markets Today
The trend deciding level for the day is 16,808/5,062 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,185–17,511/5,178–5,283 levels. However, if NIFTY
trades below 16,808/5,062 levels for the first half-an-hour of trade then it may
correct up to 16,482–16,105/4,957–4,842 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
To begin with, the market came off lows soon after an initial steep slide
triggered by a massive decline in US shares on Monday, August 8, 2011.
Recovery gathered steam in early afternoon trade as the Sensex moved into the
positive zone. Intense volatility in US pre-market trading and initial volatility in
European shares triggered high volatility in Indian shares, which gave up gains
in afternoon trade after a strong intraday rebound. Data showing recent heavy
selling by FIIs and growing fears of another recession in the US weighed on
sentiment. The market once again came off lows in late trade. The Sensex and
Nifty closed down by 0.8% and 0.9%, respectively. The mid-cap and small-cap
indices closed with losses of 1.3% and 2.1%, respectively. Among the front
runners, M&M, DLF, ITC, HDFC and JP Associates gained 2-4%, while Tata
Steel, Tata Motors, TCS, Infosys and Cipla lost 3-5%. Among mid caps, Essar
Ports, Marico, PTC India, Sujana Towers and Apollo Tyres gained 4-7%, while
Gujarat NRE Coke, Aban Offshore, BF Utilities, Sterlite Tech and Persistent
Systems lost 7-14%.
Markets Today
The trend deciding level for the day is 16,808/5,062 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,185–17,511/5,178–5,283 levels. However, if NIFTY
trades below 16,808/5,062 levels for the first half-an-hour of trade then it may
correct up to 16,482–16,105/4,957–4,842 levels
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