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Dealer’s Diary
The markets opened on a firm note but immediately reversed directions.
However, volatility was witnessed and the key benchmark indices cut losses
after hitting fresh intraday lows in morning trade. The markets moved in a tight
range and took a plunge by the mid-morning session over concerns on likely
weak-to-muted 2QFY2012 corporate earnings. Heavy sell-off was witnessed in
metal stocks on the recent weak economic data in China. The overall market
breath remained negative. The market ascended for a brief period; however, it
was not enough to enter the positive zone. Volatility perched during the midafternoon
session and indices drifted as traders rolled over positions in the
derivatives segment from the near-month September 2011 series to October
2011 series ahead of the expiry of September 2011 futures and options (F&O)
contracts. The Sensex and Nifty lost 0.5% each. The mid-cap and small-cap
indices also lost 0.9% and 1.0%, respectively. Among the front runners, DLF,
ITC, NTPC, ONGC and Infosys gained 1-3%, while JP Associates, L&T, Maruti
Suzuki, Tata Steel and Bharti Airtel lost 2-4%. Among mid caps, Hexaware
Technologies, MVL, KGN Ind., Jain Irrigation and Godrej Properties gained 4-
7%, while Shree Global Tradefin, Hathway Cable, Max India, Jet Air India and
Rolta India lost 6-10%.
Markets Today
The trend deciding level for the day is 16,491/ 4,957 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,618 – 16,791/ 4,995 – 5,044 levels. However, if NIFTY
trades below 16,491/ 4,957 levels for the first half-an-hour of trade then it
may correct up to 16,319 – 16,191/ 4,908 – 4,869 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The markets opened on a firm note but immediately reversed directions.
However, volatility was witnessed and the key benchmark indices cut losses
after hitting fresh intraday lows in morning trade. The markets moved in a tight
range and took a plunge by the mid-morning session over concerns on likely
weak-to-muted 2QFY2012 corporate earnings. Heavy sell-off was witnessed in
metal stocks on the recent weak economic data in China. The overall market
breath remained negative. The market ascended for a brief period; however, it
was not enough to enter the positive zone. Volatility perched during the midafternoon
session and indices drifted as traders rolled over positions in the
derivatives segment from the near-month September 2011 series to October
2011 series ahead of the expiry of September 2011 futures and options (F&O)
contracts. The Sensex and Nifty lost 0.5% each. The mid-cap and small-cap
indices also lost 0.9% and 1.0%, respectively. Among the front runners, DLF,
ITC, NTPC, ONGC and Infosys gained 1-3%, while JP Associates, L&T, Maruti
Suzuki, Tata Steel and Bharti Airtel lost 2-4%. Among mid caps, Hexaware
Technologies, MVL, KGN Ind., Jain Irrigation and Godrej Properties gained 4-
7%, while Shree Global Tradefin, Hathway Cable, Max India, Jet Air India and
Rolta India lost 6-10%.
Markets Today
The trend deciding level for the day is 16,491/ 4,957 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,618 – 16,791/ 4,995 – 5,044 levels. However, if NIFTY
trades below 16,491/ 4,957 levels for the first half-an-hour of trade then it
may correct up to 16,319 – 16,191/ 4,908 – 4,869 levels.
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