What a day....

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.

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

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