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Dealer’s Diary
Indian markets are expected to open flat with negative bias taking cues from
mixed opening in the Asian markets and modestly positive closing in global
markets on Tuesday. The Indian markets again closed in red yesterday as
concerns prevailed regarding European economies, domestic inflation and a fall
in rupee value to 32-month low, which prompted investors to stay on the
sidelines.
Global markets ended higher in the yesterday’s trading session aided by reports
indicating that newly appointed Italian Prime Minister Mario Monti is close to
form a new government. The rebound in the global markets also came in from
better than expected retail sales growth data of US at 0.5% (estimate – 0.44%)
and more than expected drop in US producer prices at -0.3% in October amid a
significant decrease in energy prices. GDP data of eurozone for 3QCY2011 was
also along the expected lines at 0.2% qoq.
Meanwhile, today investors will keenly watch out for CPI and IIP data of US for
October 2011.
Markets Today
The trend deciding level for the day is 16,964/5,093 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,091–17,299/5,134–5,199 levels. However, if NIFTY trades
below 16,964/5,093 levels for the first half-an-hour of trade then it may correct
up to 16,756–16,630/5,028–4,987 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
Indian markets are expected to open flat with negative bias taking cues from
mixed opening in the Asian markets and modestly positive closing in global
markets on Tuesday. The Indian markets again closed in red yesterday as
concerns prevailed regarding European economies, domestic inflation and a fall
in rupee value to 32-month low, which prompted investors to stay on the
sidelines.
Global markets ended higher in the yesterday’s trading session aided by reports
indicating that newly appointed Italian Prime Minister Mario Monti is close to
form a new government. The rebound in the global markets also came in from
better than expected retail sales growth data of US at 0.5% (estimate – 0.44%)
and more than expected drop in US producer prices at -0.3% in October amid a
significant decrease in energy prices. GDP data of eurozone for 3QCY2011 was
also along the expected lines at 0.2% qoq.
Meanwhile, today investors will keenly watch out for CPI and IIP data of US for
October 2011.
Markets Today
The trend deciding level for the day is 16,964/5,093 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,091–17,299/5,134–5,199 levels. However, if NIFTY trades
below 16,964/5,093 levels for the first half-an-hour of trade then it may correct
up to 16,756–16,630/5,028–4,987 levels.
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