He he he.......
I was hoping that Market will break resistance of 5003. But what a day...
After opening with a marginal positive gap, the markets surged on the back of strong cues from the global markets. The Finance Minister's comments - on GDP growth forecast and continuation of the stimulus till Budget - fimed up markets further. The Sensex soared over 500 points to regain the 17,000 level after six trading days
The Sensex finally ended with a huge gain of 539 points (3%) at 17,231.
The Nifty surged 159 points to 5,145.
The Finance Minister reiterated that the economy's growth will be at the earlier projected rate of 7.75%.
Global cues also gave a fillip to the Indian bourses. US markets rallied on Tuesday as a better-than-expected home sales data was reported. Asian markets also ended in the green today.
All sectoral indices were in the green as the metal index shone. The index jumped 4% to 17,075. Oil & gas, power, IT and capital goods gained over 3% each.
Reliance was the star performer in trades today and surged 4.6% to Rs 1,066. Other heavyweight - Infosys, ICICI Bank and Larsen & Toubro rallied 3-4% each.
Metal stocks shone. Hindalco soared 8% to Rs 153. Sterlite surged 5% to Rs 847. Tata Steel added 4.5% to Rs 603.
PSU stock NTPC advanced 7% to Rs 230. Relaty stocks - Jaiprakash Associates, Reliance Infrastructure and DLF jumped.
Other gainers included BHEL, Mahindra & Mahindra, HDFC, Tata Motors, TCS and ITC. Reliance Communications, SBI, Wipro, Grasim, Maruti Suzuki and ONGC moved up 1-2% each.
The BSE market breadth was positive. Out of 2,922 stocks traded 1,902 advanced while 927 declined.
Wednesday, December 23, 2009
Tuesday, December 22, 2009
Again On Positve Note
After a loss in last week, this week may go up with the help of good globel cues. Today Nifty was gap up by 30 points and as expected, there is a big resistance at 5000 and nifty failed to cross that. But the resistance at 4980 was broken in opening bell only. So now its being a good support level.
Yesterday night, US market shows some good recovery. S&P touched its 2009 high and Asia was also going good so positive opening was expected. Now Europe markets are closed 0.5% up and US is again in Green. Today opened in good note again. Its trading good. Future was closed in green earlier today. So we may expect 5003 resistance to be broken in opening bell tomorrow. Lets hope for the best
Yesterday night, US market shows some good recovery. S&P touched its 2009 high and Asia was also going good so positive opening was expected. Now Europe markets are closed 0.5% up and US is again in Green. Today opened in good note again. Its trading good. Future was closed in green earlier today. So we may expect 5003 resistance to be broken in opening bell tomorrow. Lets hope for the best
Sunday, December 20, 2009
December Wasted for Indian Market
I was expecting lots of fireworks in December. At start of the month, nifty was trying daily to make new high but failing to do so. This means that we can see down side from there. And in second week, it was. This was very bad days for indian Stock market. Sensex and Nifty both falls even after the good industrial result.
Inflaction is high now so RBI may hike interest rate. This created pressure for last two sessions for indian market. Another thing was Christmas holidays. Now FII is leaving for christmas holidays and market volume is going down. Lower volume may drag market further.
There is a news that Some big investors are waitnig for 20 dec and they will invest heavily in Small and Mid cap stocks in absance of FIIs. Lets see what happens. Atleast I am hoping upaward moments because US and Europe markets are showing good recovery
Inflaction is high now so RBI may hike interest rate. This created pressure for last two sessions for indian market. Another thing was Christmas holidays. Now FII is leaving for christmas holidays and market volume is going down. Lower volume may drag market further.
There is a news that Some big investors are waitnig for 20 dec and they will invest heavily in Small and Mid cap stocks in absance of FIIs. Lets see what happens. Atleast I am hoping upaward moments because US and Europe markets are showing good recovery
Friday, November 27, 2009
Good recovery by Indian Market
It was a day of high drama on Dalal Street today, also the first day of the December series that closed on high volumes again.
Dubai World announced a bad debt of $60 billion sending jitters around the world (European banks having $40 billion exposure and many Indian companies too have exposure to the Dubai market).
Our market opened gap down (almost 300 points on Sensex and 100 points on Nifty) on this news but made a smart recovery at close with positive cues from European markets. Most experts believe the Dubai crisis would affect sentiments and not make any real impact on the economic fundamental of emerging markets.
Sensex shut shop at 16632, down 222 points and Nifty is at 4941, down 63 points from the previous close. CNX Midcap index was down 1.49% and BSE Smallcap index was down 2.14%. The market breadth was negative with advances at 219 against declines of 1061 on the NSE
Top Gainers of the day are Suzlon, Tata communication, Ranbaxy,Bharat electroni and Jain irrigation while Financial Technology, Aban offshore, IVCRL, Siemens and IRB infra were among the top losers of the day
Today indian market had shown its strength. Despite of heavy fall in other asian markets, indian market recovers sharply. Its clear indication of upward movement. We can see 5200 level very soon.
Dubai World announced a bad debt of $60 billion sending jitters around the world (European banks having $40 billion exposure and many Indian companies too have exposure to the Dubai market).
Our market opened gap down (almost 300 points on Sensex and 100 points on Nifty) on this news but made a smart recovery at close with positive cues from European markets. Most experts believe the Dubai crisis would affect sentiments and not make any real impact on the economic fundamental of emerging markets.
Sensex shut shop at 16632, down 222 points and Nifty is at 4941, down 63 points from the previous close. CNX Midcap index was down 1.49% and BSE Smallcap index was down 2.14%. The market breadth was negative with advances at 219 against declines of 1061 on the NSE
Top Gainers of the day are Suzlon, Tata communication, Ranbaxy,Bharat electroni and Jain irrigation while Financial Technology, Aban offshore, IVCRL, Siemens and IRB infra were among the top losers of the day
Today indian market had shown its strength. Despite of heavy fall in other asian markets, indian market recovers sharply. Its clear indication of upward movement. We can see 5200 level very soon.
World economy crashed with Dubai Effect
Its look like a black friday in whole world as per economy point of view. Yesterday Europe markets were closed 3% down.
In Dubai, State-backed networks named as Dubai Inc. is in debt of $80 billion and can not pay for atleast 6 month. Due to its impact, the compnies which have exposure to Dubai are in danger now. As soon as this news spread, it looks like 2nd crisis has been started in world. Hongkong market is down by 700 points. Indian market opens 400 point down which never been in 2009. Now analysist seems this as a corretion and predict to correct up to 14500 level. Right now Sensex is treading at 16318 down 537 points (3.2%) and Nifty is at 4839 down 166 points (3.33%)
Scary thing is that nifty is not taking any support at all. All the major supports are broken very easily and for bulls, it has so many strong resistance.
It may be ended 600 down today. And may be 300-400 down on Monday. If Indian Government wants to save investor's money, they have to take some encouraging steps
In Dubai, State-backed networks named as Dubai Inc. is in debt of $80 billion and can not pay for atleast 6 month. Due to its impact, the compnies which have exposure to Dubai are in danger now. As soon as this news spread, it looks like 2nd crisis has been started in world. Hongkong market is down by 700 points. Indian market opens 400 point down which never been in 2009. Now analysist seems this as a corretion and predict to correct up to 14500 level. Right now Sensex is treading at 16318 down 537 points (3.2%) and Nifty is at 4839 down 166 points (3.33%)
Scary thing is that nifty is not taking any support at all. All the major supports are broken very easily and for bulls, it has so many strong resistance.
It may be ended 600 down today. And may be 300-400 down on Monday. If Indian Government wants to save investor's money, they have to take some encouraging steps
Thursday, November 26, 2009
Nifty Target in December
Niftywill hit 5600 in december. From last so many days, globel cues are very weak. But indian stock market is holding its support levels very strongly. This shows that our market has very good strength.
Today at 26th November, 2009 on expiry date, January Nifty future has a spike of 5640.55 which is upper circuit. This is clear indication of bullish momentum in future. Indian economy is going strong. Asian markets are in correction mode. It will be soon over and we can see new high for nifty very soon
Today at 26th November, 2009 on expiry date, January Nifty future has a spike of 5640.55 which is upper circuit. This is clear indication of bullish momentum in future. Indian economy is going strong. Asian markets are in correction mode. It will be soon over and we can see new high for nifty very soon
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