ON WEAK US MARKET AND GLOBAL CUES INDIAN MARKETS FELL SHARPLY YESTERDAY. POOR PERFORMANCE BY TCS AND HCL TECH HURT THE SENTIMENTS. NIFTY CLOSED AT 5037.50 DOWN BY 80.75 POINTS AND SENSEX CLOSED AT 16748.29, DOWN BY 276.80 POINTS. MARKET BREADTH WAS POOR AND BOTH MID-CAP AND SMALL-CAP INDICES WERE DOWN BY MORE THAN A PERCENTAGE POINT.
GOING FORWARD, INDIAN MARKETS WILL TAKE CUES FROM THE GLOBAL MARKETS AND ESPECIALLY DEVELOPMENTS IN THE EUROPEAN COUNTRIES. YESTERDAY MARKETS OF THE WORLD TUMBLED AFTER THE STATEMENT OF GERMAN FINANCE MINISTER THAT EUROPEAN GOVERNMENTS WON'T BE ABLE TO RESOLVE THE CRISIS TOTALLY AT THE MEETING SCHEDULED TO BE HELD ON 23RD OCTOBER, 2011. DOMESTICALLY QUARTERLY RESULTS SHALL KEEP ON IMPACTING AND TRIGGERING THE STOCK SPECIFIC MOVES.
NIFTY IS EXPECTED TO BE IN THE RANGE OF 4940 & 5170.
IF NIFTY SLIPS BELOW 4940, THEN NIFTY MAY GO TO 4700-4650. ON THE OTHER SIDE IF NIFTY MOVES ABOVE 5170 THEN 5230-5320 WILL BE THE TARGET. HENCE STRICT STOP-LOSS OF 4940 SHOULD BE MAINTAINED TO ALL LONG POSITIONS.
FOR TODAY: NIFTY MAY TAKE SUPPORT AT 5010 AND RESISTANCE AT 5090. BREAK OF 5010 MAY PULL DOWN NIFTY TO 4970-4940, ON THE OTHER HAND ABOVE 5090, 5130 AND 5170 SHALL BE THE TARGET.
NO STOCKS ARE RECOMMENDED TODAY
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
GOING FORWARD, INDIAN MARKETS WILL TAKE CUES FROM THE GLOBAL MARKETS AND ESPECIALLY DEVELOPMENTS IN THE EUROPEAN COUNTRIES. YESTERDAY MARKETS OF THE WORLD TUMBLED AFTER THE STATEMENT OF GERMAN FINANCE MINISTER THAT EUROPEAN GOVERNMENTS WON'T BE ABLE TO RESOLVE THE CRISIS TOTALLY AT THE MEETING SCHEDULED TO BE HELD ON 23RD OCTOBER, 2011. DOMESTICALLY QUARTERLY RESULTS SHALL KEEP ON IMPACTING AND TRIGGERING THE STOCK SPECIFIC MOVES.
NIFTY IS EXPECTED TO BE IN THE RANGE OF 4940 & 5170.
IF NIFTY SLIPS BELOW 4940, THEN NIFTY MAY GO TO 4700-4650. ON THE OTHER SIDE IF NIFTY MOVES ABOVE 5170 THEN 5230-5320 WILL BE THE TARGET. HENCE STRICT STOP-LOSS OF 4940 SHOULD BE MAINTAINED TO ALL LONG POSITIONS.
FOR TODAY: NIFTY MAY TAKE SUPPORT AT 5010 AND RESISTANCE AT 5090. BREAK OF 5010 MAY PULL DOWN NIFTY TO 4970-4940, ON THE OTHER HAND ABOVE 5090, 5130 AND 5170 SHALL BE THE TARGET.
NO STOCKS ARE RECOMMENDED TODAY
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
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