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Dealer’s Diary
The Indian markets are expected to open on a positive note on the back of firm
Asian stocks, which have moved higher tracing positive cues from the Wall
Street. Reliance Industries’ 2QFY2012 results met street’s expectation thereby
playing a neutral impact on the markets. Domestic bourses had rallied strongly
on Friday on the back of healthy buying by FIIs. Global cues turned strong over
upbeat retail sales data in the US, which exceeded estimates. European stocks
also closed on a strong note as G-20 finance ministers gathered in France to
discuss a comprehensive plan to tackle the Eurozone crisis. On the domestic
front, concerns continue to flag over inflationary pressures evident from the
WPI for September 2011 which came in at 9.72%. Onset of 2QFY2012 results
will provide direction to the markets in the coming days.
Markets Today
The trend deciding level for the day is 17,008/5,110 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,187 – 17,292 / 5,164 – 5,195 levels. However, if NIFTY
trades below 17,008/5,110 levels for the first half-an-hour of trade then it may
correct up to 16,903– 16,724 / 5,079 – 5,025 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The Indian markets are expected to open on a positive note on the back of firm
Asian stocks, which have moved higher tracing positive cues from the Wall
Street. Reliance Industries’ 2QFY2012 results met street’s expectation thereby
playing a neutral impact on the markets. Domestic bourses had rallied strongly
on Friday on the back of healthy buying by FIIs. Global cues turned strong over
upbeat retail sales data in the US, which exceeded estimates. European stocks
also closed on a strong note as G-20 finance ministers gathered in France to
discuss a comprehensive plan to tackle the Eurozone crisis. On the domestic
front, concerns continue to flag over inflationary pressures evident from the
WPI for September 2011 which came in at 9.72%. Onset of 2QFY2012 results
will provide direction to the markets in the coming days.
Markets Today
The trend deciding level for the day is 17,008/5,110 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,187 – 17,292 / 5,164 – 5,195 levels. However, if NIFTY
trades below 17,008/5,110 levels for the first half-an-hour of trade then it may
correct up to 16,903– 16,724 / 5,079 – 5,025 levels.
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