Archive February 2009 


27/Feb/09

During the Market:
  • 12.49 pm. With Advance/Decline at 5/45 the Cement Stocks are the main scavengers along with ZEEL, RELINFRA & SAIL.
  • 12.44 pm. With current position Nifty may reach 2740, but may improve further after brief consolidation.
  • 12.28 pm. This may be a point of reversal for the Nifty.
  • 11.30 am.  Nifty has touched a low of 2712 due to selling pressure.
  • 10.50 am. Nifty is weak and weakness can precipitate further. At present it is weakly trading at 2756.
  • 10.33 am. Nifty will continue its fall to to probably next support level of 2710.
  • 10.10 am. At a level below 2770 Nifty becomes real weak.
  • 09.59 am. Nifty has opened with a weakness with an realization that the sops announced may not be sufficient to tide the current crisis.
Pre Market Analysis 09.00 am.
  • European & Japanese markets are upbeat while US and Asian are down.
  • Nifty is expected to consolidate.
  • Expected High/Low 2850/ 2759.
  • Nifty may open higher and then may settle for lower close.
  • Wait & watch situation.

26/Feb/09
During the Market:

  • 03.35 pm. After touching a high of 2797, Nifty closed at 2785.
  • 03.15 pm. Nifty is at 2782, a plus of 20 points.
  • 02.23 pm. The Nifty completely backtracked the days fall and is near yesterday's close. The Advance/Decline has climbed to 24/26. Contributed mainly by TATAMOTORS, STER, GRASIM, HEROHONDA & RCOM.
  • 12.40 pm. The Nifty is currently making an effort to comeback with LT, TATAMOTORS, GRASIM & HEROHONDA helping it while RANBAXY, ICICBANK, PNB, HDFC & BPCL are are preventing it. The Advance/Decline is low at 12/38.
  • 12.24 pm. This may be lowest point for the day. From here the Nifty may climb up.
  • 11.40 am. Nifty after touching a low of 2731.9 has started regaining the lost ground. The Advance/Decline is at 14/36.
  • 10.26 am. With current move the Nifty seems to go down to 2732 and then stabilize. This move is to move shares from weal hands to strong hands.
  • 10.02 am. Advance/Decline is at 18/31 and 1 unchanged. This is initial bear attack, very soon the situation will slip out  of bears control.
  • 09.58 am. Nifty opened flat and went down to touch 2746 and is trying to stabilize.

Pre Market Analysis 09.00 am.
  • Global cues are Mixed.
  • Indian cues are positive.
  • Nifty is in comfort zone.(as per ADX, Bollinger Band, RSI analysis).
  • Expected High/Low 2855/2757.
  • Nifty expected to open with an positive gap and maintain its gain.
  • The volatility can be higher.
  • Nifty may not close near its high.

25/Feb/09
During the Market:
  • 03.35 pm. The Nifty closed at 2762, just 29 points plus.
  • 03.28 pm. As expected towards the end bears are trying to dominate the trades.
  • 02.48 pm. The Advance/Decline has slipped to 38/11 and 1 unchanged - the consequence of bear attack as expected.
  • 02.26 pm. Nifty is holding on to its early morning gains. M&M,  NATIONALUM, RELINFRA, CAIRN & TATAMOTORS are progressing, while HDFC, RANBAXY, HINDUNILVR, DLF & ABB are retarding.
  • 01.51 pm. Bulls have taken control since the start, at the end of the session bears may try to dominate.
  • 01.16 pm. Nifty has consolidated to 2787 and Advance/Decline is at 44/6.
  • 10.44 am. The Advance/Decline has improved to 47/3. The Nifty may close near the day's high.
  • 10.16 am. The gainers are M&M, SUZLON, SAIL, RELINFRA & HINDALCO, while losers are STER, POWERGRID, ITC & HINDUNILVR.
  • 10.15 am. The Advance/Decline is firm at 45/4 with 1 unchanged.
  • 10.14 am.The Nifty opened and surged to 2764 there after continuing its stride is currently being traded  at 2770.

Pre Market Analysis 09.00 am.
  • The Global cues have turned positive.
  • The duty relief of 2% in Excise and Service Tax is a positive step.
  • Since Nifty is oversold zone downside is limited.
  • Expected High/Low 2810/2690.
  • If Nifty by any reason slips below 2660, then it will slip further in days to come (chances are very remote).
  • Nifty stands a better chance to gain 90-100 points.
24/Feb/09
Post Market Review:
The downside is limited as the Nifty is already in oversold zone. The Nifty can slide further once it dips below 2660 the chances of which are very slim.

The Government's sops given today in form of excise duty and service tax cuts of 2% each, will be reciprocated by the market in tomorrow's trade. Infrastructure and FMCG stand to gain. Further the POWER sector being the top priority sector will strengthen with time.

Today the beginning of the session was marked by bears striking but slowly bulls over powered and controlled the show till the end of the day. The early fall today was just near the cliff but the market consolidated from those lows.

During the Market:
  • 03.40 pm. Finally the Nifty closed at 2733.
  • 03.15 pm. Nifty is trading totally flat.
  • 03.00 pm. Nifty has made a high of 2746.
  • 01.50 pm. Advance/Decline has bettered to 24/26.
  • 01.46 pm. At this stage it appears that Nifty might go up to 2786-2790.
  • 01.22 pm. The Gainers are M&M, GRASIM, POWERGRID, RANBAXY & CAIRN, while losers are TATASTEEL,  PNB, HDFC, SAIL & ABB.
  • 01.19 pm. Nifty is now trading at 2720 plus, the Advance/Decline is steadily improved to 14/36.
  • 12.17 pm. The Nifty trading at 2700+ and Advance/Decline has improved to 9/40 with 1 unchanged.
  • 11.09 am. Advance/Decline has improved to 5/45.
  • 10.28 am. Till the time Nifty is above 2660 it will not confirm negative breakout and till then its safe, but if it goes below 2660 (chance of this is very low) then reversal of position is recommended.
  • 10.17 am. The Nifty after daylong consolidation appears to settle down near day's high. Downside is limited, long term buying recommended in Infrastructure & Power sector.
  • 10.10 am. The Nifty has opened with initial weakness and slumped to 2686. At present the Advance/Decline is poised at 2/48, with HINDUNILVR & POWERGRID being in the positive whereas DLF is leading the decline.
Pre Market Analysis 09.00 am.
  • World Markets are in red.
  • Nifty is in oversold zone so buying can be witnessed.
  • ADX for Nifty is also in comfortable zone.
  • Expected High/Low 2840/2710.
  • Market may show initial drop but will consolidate to close near the day's high.
23/Feb/09

 Holiday "Shivratri"

20/Feb/09
Post Market Review:
The Global markets are correcting because of stagflation. The only economies where now the investments will flow-in are INDIA & CHINA.

As per Technical formations it will take around 2-3 months, after which the strength of Indian economic position will be reflected in bourses.

The Nifty at present is moving in a narrow range, it is expected that the breakout will be POSITIVE once the Nifty closes over 2960. At this point purchase is recommended with a sell target of 3470.

If Nifty closes on any day below 2670, the breakout may be NEGATIVE and it is recommended to SELL (Short sell) at 2660 with buy or cover target of 2210 . ALL TRADES SHOULD HAVE 3% STOP-LOSS AS A RULE , to minimize he loss if any.



During the Market:

  • 03.35 pm. Nifty has closed at 2736, 53 points down.
  • 03.05 pm. Nifty smartly recovered to 2746 but could not hold and is slipping.
  • 02.30 pm. Nifty has touched a day's low of 2710 as expected but held on and moved up.
  • 01.48 pm. After today's session only two days are left for monthly settlement. If not today then on Monday the Nifty must rally.
  • 01.45 pm. Since morning the Nifty is trading in a very tight range 0f 15-20 points. In the last one hour of trade Nifty can retrace it steps.
  • 11.15 am. This is the time to make long term investments, as it is very difficult to know the exact bottom of the market.
  • 11.03 am. Except CAIRN all other Nifty stocks are down.
  • 10.52 am.  Its safe till Nifty holds above 2710.
  • 10.49 am. The Advance/Decline is 1/49, a very dismal picture, but Nifty will improve as the day progresses.
  • 10.15 am. Nifty has touched a low of 2724.
  • 10.05 am. Nifty again opened with negative outlook.
Pre Market Analysis 09.00 am.
  • Global cues are still negative.
  • MACD is same as yesterday and William R% still oversold.
  • Possibility of up-move.
  • Expected High/Low 2810,2860/2710.
  • Wait and watch out for positive break-out.
19/Feb/09
Post Market Review:

The Global stagflation, is the price the world economy has to pay for the American misadventures (War). They are still burning their tax-payers money resulting in the present crisis. (refer: Global Recession a by-product of WAR).

To fight recession there are two main alternatives before any regulatory authority - increase money supply or tighten monetary policy, both of these steps have their side effects.

If, Money Supply is increased, although it stimulates economy and generates employment but it increases INFLATION.

Now, if the Monetary Policy is tightened, no doubt it will increase interest rates (promoting savings) and reduce inflation but it increases unemployment plus it reduces Output Growth.

Due to the good  standard operating procedures (SOPs) of Reserve Bank of India(RBI), Indian economy has stronger roots. The impact of recession is felt all over the globe and so to some extent by Indian Economy.

RBI is walking a tight rope and doing the balancing act between inflation and growth, but injury takes time to heal. The recovery phase may start by the end of 1st. Quarter and may be visible by 2nd.Quarter i.e. late July'09.

Every situation has a positive silver lining. In this situation Long Term Investors ( Min. 3-5 yrs. of Investment) definitely stand to gain. Invest as you would invest in a 5 yr. FIXED DEPOSIT.   

Small investors should stay away from day-trading and at best  can take risk with Short Term Investments i.e. picking at levels of under 2710 and booking profits at 2910+ levels.


During the Market:

  • 03.40 pm. The Nifty finally closed at 2789.
  • 03.28 pm. The advance/Decline is healthy at 32/18, and the Nifty is also trading near highs.
  • 03.05 pm. The formations suggest that Nifty may close near highs probably 2890.
  • 02.15 pm. Nifty has formed double top and may rise to 2800 levels.
  • 12.50 pm. The breakout was negative, the Nifty has touched a low of 2767, now the recovery is expected.
  • 11.30 am. Nifty is moving in a short range and may lead to breakout for the day.
  • 10.10 am. The Nifty has opened with a positive outlook and rose to 2802.
Pre Market Analysis 09.00 am.

  • Global cues are negative, recessions woes will continue to haunt.
  • Signing of US Stimulus may give temporary respite.
  • Nifty is in oversold zone, so recovery possible.
  • MACD is just sitting on the fence.
  • RSI indicative of positive move.
  • Expected High/Low 2810,2850/2710.
  • Just hold your horses for 1-2 months till the clouds of uncertainty clear.
  • Traders with risk appetite can operate in price band of 2600 -2990.
18/Feb/09
During the Market:

  • 03.35 pm. Nifty closed flat at 2776.
  • 03.15 pm. Nifty is exactly flat at this point, Advance/Decline is also evenly poised.
  • 03.03 pm. Nifty touched a high of 2806 and tripped to 2778.
  • 02.14 pm. Advance/Decline is poised at 37/13.
  • 01.15 pm. The formation for the day is complete, now Nifty may move in a narrower range or sideways.
  • 10.44 am. Unless and until Nifty breaks the shackles of 2600 - 2990, it can be totally avoided, or one can pick below 2710 and sell above 2910.
  • 10.11 am. Advance/Decline has improved to 32/7 and 1 unchanged with Nifty trading at 2780+.
  • 10.05 am. Nifty opened with a downward gap but quickly recovered.
Pre Market Analysis 09.00 am.
  • The Global cues are negative. Major world indices are correcting.
  • The Nifty is cue-less, it is looking for a direction.
  • MACD for Nifty is in precarious zone, if it doesn't becomes positive today, it will be southbound once again.
  • Expected that today Nifty may move in range 2740-2860 and may close near day's high.
  • If Nifty breaks this range negatively, it may have support at 2710/2690, for which chances are remote.
17/Feb/09
During the Market:

  • 03.40 pm. The Nifty closed near the day's low at 2770.
  • 02.45 pm. Nifty touched a low of 2760, amidst controlled selling and buying.
  • 10.37 am. Advance/Decline is 2/48. The two scrips floating above are RANBAXY & CAIRN.
  • 10.35 am. The Nifty opened at 2858 and plummeted to 2790 and is now trading between 2810 and 2790.
Pre Market Analysis 09.00 am.
  • The Major Global Markets are slipping.
  • Change in direction of Indian bourses expected.
  • Expected High/Low 2890,2930/2790.
  • Long Term trend intact.
  • Yesterday's slippage can be taken as a small blip.
  • Long term investment in Infrastructure, Power, Oil & Gas advised at lower levels (below 2710).
16/Feb/09
Post Market Review:

The Markets and Nifty as well have reacted to the Interim Budget, the same was expected as Government had nothing conspicuous to offer.
 
This is the third time Nifty has fallen from levels of 2900+, First time it was SATYAMCOMP, second DLF and now it is 'Interim Budget'.

The long term picture is intact.

During the Market:

  • 03.45 pm. Nifty closed at the lows of the day at 2848, This is instant short lived reaction to INTERIM BUDGET'. The positive trend to continue.
  • 03.00 pm. The market is trading in a very narrow range.
  • 12.30 pm. Nifty went down 2850 near the support level for the day.
  • 11.31 am. Nifty touched a low of 2891, nearly twice raising some hopes of recovery now.
  • 11.15 am. The Advance/Decline has slipped to 7/42 and 1 unchanged.
  • 10.55 am. The Advance/Decline is poised at 15/35.
  • 10.36 am. Nifty has opened with slight weakness. After touching a low of 2916 it is now trading at 2923.
Pre Market Analysis 09.00 am.
  • The Global cues are lacking direction.
  • The markets may remain range bound.
  • The positive trend to be maintained.
  • Expected High/Low 2960,2990/2890.
13/Feb/09
Post Market Review:

The technical formations of the Nifty are quite encouraging. Although its trading in the over-bought region (William R %), yet its very healthy for the long term.

The MACD has a positive zero-line cross-over which is quite bullish whereas ADX also confirms the bullish trend to continue till 3500, of course with small blips.

The inflation figures are going to improve with each passing week. World economy also seems bottoming out.

The biggest advantage is Indian and the Chinese are the only two economies which have the positive outlook for 2009 -10.

The sectors which will be back on track faster are Infrastructure, Power, Oil & Gas. The Real state has already touched a bottom.



During the Market:
  • 03.40 pm. It was fairly stable session. Nifty closed for the day at 2948.
  • 02.17 pm. As expected Nifty has reached 2959.
  • 01.54 pm. Nifty is maintaining its early morning gains.
  • 11.35 am. Status-quo being maintained by Nifty.
  • 10.55 am. Advance/Decline is very positive at 47/3. The gainers are led by ZEEL, M&M, RELINFRA, POWERGRID & TATASTEEL. The stocks lagging are SUNPHARMA, GAIL & ABB.
  • 10.15 am. Nifty has opened healthy at 2896. It went to a high of 2948 and is holding there.

Pre Market Analysis 09.00 am.
  • The Global cues have recovered partially.
  • The Nifty trading in overbought zone is healthy.
  • Expected High/Low 2960/2840.
  • Major investment decisions can be withheld till Nifty crosses 3220.
  • Volatility may increase.
12/Feb/09
During the Market:
  • 02.33 pm. Another boring session of consolidation, this implies the building of strength and preparation of moving up in next price range.
  • 11.55 am. Another consolidation process underway.
  • 10.32 am. Nifty has opened at 2927 and cautiously went to 2939 to slump to 2900. Advance/Decline is low at 15/34 and 1 unchanged.

Pre Market Analysis 09.00 am.
  • The Global cues are mixed.
  • Crude oil is taking the beating, on positive side it will reduce transport cost.
  • Nifty is in overbought zone.
  • The positive aspect of Nifty is its Bullish Center-line crossover of MACD, although ADX is neutral.
  • Expected High/Low 3010/2840.
11/Feb/09

During the Market:
  • 03.35 pm. After daylong consolidation the Nifty closed at 2925.
  • 01.53 pm. This day its "For Your Eyes Only". A consolidation process.
  • 10.45 am. The markets may move in a narrow range, some volatility may be seen in post noon session.
  • 10.02 am. Nifty has opened with a weakness and went down to 2877. It is trading at 2890+. Advance/Decline is dismal at 3/47.
Pre Market Analysis 09.00 am.
  • Global cues have turned negative.
  • Nifty is in overbought zone.
  • Nifty should either enter new higher price zone or is ripe for minor correction of 90-100 points.
  • Expected High/Low 2990,3040/2910,2840.
10/Feb/09
During the Market:
  • 03.40 pm. Nifty closed at 2934.
  • 03.02 pm. The Advance/Decline has improved to 29/21.
  • 02.40 pm. Down at 2891 and recovering the Nifty has made a clean double bottom for the day, this is a very positive signal for the day.
  • 11.55 am. Nifty is trading firmly at 2940 with Advance/Decline also firming to 37/13.
  • HCLTECH and SATYAMCOMP are down.
  • TATASTEEL and ZEEL are growing 7%+.
  • 10.10 am Advance/Decline has improved to 29/21. The Nifty has reached a level of 2922.  The torch bearers are DLF, SIEMENS, UNITECH, M&M and RELCAPITAL.
  • Advance/Decline is at 22/27 and 1 unchanged.
  • 10.08 am. Nifty has opened flat 2919, made a High/Low of 2930/2908 and is trading around 2915.
Pre Market Analysis 09.00 am.
  • The US & Japanese markets opened negative but closed marginally positive.
  • The Nifty is in over-bought zone.
  • Nifty may open with a positive gap.
  • Expected High/Low 3010,3040/2910.
  • Nifty expected to close at lows of the day.
09/Feb/09
Post Market Review:

Today was a good day for Indian stock markets. Nifty opened at 2843 and touched a high of 2840. It closed near the days high at 2919. TATASTEEL & ONGC were major contributors for the rise. FIIs were also buyers today to the tune of Rs.285 crores.

The Japanese and US markets are showing losses.

The Nifty has reached an over bought position and tomorrow the Indian markets may consolidate.

Tomorrow, the Nifty may open with upward gap but may close near the lows but only after touching 200 EMA (3030).


During the Market:
  • 03.45 pm. The markets were buoyant and the Nifty firmly closed at 2919.
  • 03.25 pm. Nifty is holding firm with Advance/Decline at 46/4.
  • 03.02 pm. Nifty has reached a level above 2910 and is poised for more gains.
  • 02.30 pm. Nifty has held its gains and is going from strength to strength.
  • 12.30 pm. Nifty may breakout positively.
  • 10.45 am. Nifty upbeat touched 2870 and Advance/Decline at 34/16.
  • 10.06 am. Nifty immediately retrieved back and is constantly improving.
  • 10.00 am. Nifty has opened on positive note, it touched a high of 2866 and dived to a low of 2840. Advance/Decline is at 27/23.
Pre Market Analysis 09.00 am.
  • World cues positive on account of STIMULUS
  • Markets expected to be choppy.
  • Expected High Low 2910/2760.
  • Higher end closing expected.
06/Feb/09
During the Market:
  • 03.40. pm. The Nifty closed at 2843, with Advance/Decline at 44/5 and one unchanged.
  • 03.00 pm. The Nifty has held its gains and that is very positive, but it has not broken 2860 level.
  • 12.45 pm. If Nifty does not rise above 2860 by 1.30-2.30  pm. then probably a bout of intra-day profit taking can take place.
  • 12.10 pm. Unless and until Nifty breaks from the shackles of 2700-2890 range any gains may prove short-lived.
  • 12.06 pm. World markets are up on the anticipation that the STIMULUS plan of US may pass.
  • 12.01 pm. One positive aspect is that the entire market - all the indices, are moving positively.
  • 11.55 am. Nifty's Advance/Decline is at 45/5. The gainers are UNITECH, HCLTECH, TATAMOTORS, RELINFRA & TCS, while losers are STER, CIPLA, HINDUNILVR, SIEMENS & BPCL.
  • 11.52 am. Nifty is showing strength and has reached a level of 2830+.
  • 11.30 am. Since opening Nifty has clanged to morning gains.
  • 10.10 am. The markets have opened on a positive note. The Nifty has opened at 2779 and climbed to 2810+.
Pre Market Analysis 09.00 am.
  • The Global cues are positive.
  • The appointment of new CEO for SATYAMCOMP is a positive cue.
  • The Nifty will reciprocate positively.
  • Expected High/Low 2860/2760.
  • Nifty may have a higher closing at 2810+.
05/Feb/09
During the Market:
  • 03.40 pm. Nifty Finally closed at 2780.
  • 03.02 pm. The Global cues have turned negative and is effecting Nifty adversely.
  • 02.36 pm. Nifty after touching a low of 2754 is again trying to regaining back its morning position.
  • 11.15 am. Markets indecisive, moving in a narrow range.
  • 10.28 am. Markets are lacking direction.
  • 10.17 am. Advance/Decline is 27/23. Metals are upbeat where as Automobile sector is slipping.
  • 10.14 Nifty opened at 2802 and rose till 2816 to slump to 2797 and regained.
Pre Market Analysis 09.00 am.
  • The Global cues are neutral.
  • The Technical outlook for Nifty is indicative of up-move.
  • The Crude is around $40/barrel.
  • Dollar has depreciated as compared to INR.
  • Expected High/Low 2930/2790.
  • still a situation of caution till Nifty closes above 3200.
04/Feb/09

During the Market:
  • 03.40pm. Nifty has closed at 2803.
  • 02.32 pm. There could be a pull back in last one hour of the trade.
  • 02.25 pm. The Nifty is back to square one.
  • 01.44 pm. With intraday profit booking the Nifty touched down 2799, the Advance/Decline also stooped to 38/12.
  • 11.55 am. Nifty at present is moving in a very small range, indicative of major breakout.
  • 11.25 am. Nifty is so far climbing steadily, with Advance/Decline also climbing to 48/2.
  • 10.12 am. Nifty trading above 2810-2850 range would attract fresh investment.
  • 10.11 am. Nifty as digested the bad result season, now it is looking ahead for some positive news.
  • 10.08 am. Advance/Decline is very positive at 46/4.
  • 10.06 am. Nifty opened at 2780 and immediately climbed to 2830.

Pre Market Analysis 09.00 am.
  • The Global cues are positive for Nifty.
  • Nifty is expected to show positive uptrend.
  • Expected High/Low 2890,2858/2710.
  • Crude oil is in downward trend, it may help to contain inflation.
  • Oil and Gas, FMCG, Cement sectors to be optimistic.
03/Feb/09
Post Market Review:

Today, Nifty could not hold on to gains and closed at a meager  17 points gain at 2783. Bears overpowered the proceedings whenever the Nifty made attempts to cross 2800 mark.

The Global markets are upbeat but Crude Oil is continuously slipping inspite of the production cuts by OPEC.

Rupee has strengthened as compared to US Dollar.

In the short term, Nifty is moving in a range of 2600 - 2990 and moves are based on Global cues, there is no inherent reason for its moves. This is probably the reason it is moving in a range. Until Nifty breaks this range it is hard to say which way it is poised.

It appears as if the market has bottomed out and very soon the markets may recover with stops at 3200, 3400, 3500. For this indicator would be increase in volume above 12K.


During the Market:
  • The Nifty finally closed at 2783.
  • 02.33 pm. The Asian markets are upbeat, European markets have opened on a positive note.
  • 02.18 pm. Nifty has made a high of 2827. Advance/Decline has improved to 41/9.
  • 01.25 pm. Nifty has retraced back its morning rise.
  • 01.20 pm. Advance/Decline has reduced to 35/15. DLF has turned negative after initial upsurge, and is the major Nifty pusher.
  • 10.05 am. The Stocks which have pulled down the Nifty yesterday are today pulling it up.
  • 10.01 am The Advance/Decline is at 46/4, a pretty healthy opening.
  • 10.00 am. Nifty opened with a positive of 7points and climbed to 2800+ level.
Pre Market Analysis 09.00 am.
  • The Global cues are not positive.
  • Crude oil is continuously being hit.
  • Results are with negative bias.
  • If Nifty sinks below 2710 then it will go down further, otherwise consolidation will continue.
  • Expected High/Low  2890/2760,2720.
  • Nifty is expected to be choppy.
02/Feb/09
Post Market Review:

Today's proceedings were marred by DLF scam. This is the second time it has happened that, when the Nifty has reached a level near 2890 it was marred by by scam. Last time it was SATYAMCOMP this time its DLF. Lets keep our fingers crossed for third attempt.

The Global cues are dismal, one after the other cartels keep on falling. The US figures are not at all encouraging, followed closely by European figures. The only hope are developing economies of China & India. China will be leading followed closely by India.

The Indian markets were over bought and this time DLF provided the reason for selling. The markets are still not irrecoverable. Tomorrow, it can see another move of consolidation or reversal in trend.
 
During the Market:
  • 03.35 pm. The Nifty closed at 2766, near the low of the day.
  • 02.50 pm. Last time the reason to correct was provided by SATYAMCOMP, this time its DLF.
  • 02.46 pm. The Nifty may get support at 2760.
  • 02.38 pm. The Advance/Decline is at 3/47. Gainers are GAIL, CIPLA & HEROHONDA while losers are DLF (13.14%), RELINFRA (8.23%), UNITECH (8.03%), SAIL (7.83%) & ICICIBANK (6.79%).
  • 02.26 pm. The selling pressure is unrelenting.
  • 12.02 pm. The current moves are indicative of consolidation.
  • 10.23 am. Nifty's Advance/Decline is 2/48. The leaders are GAIL and PNB, while the slide is effected by real state. DLF is (11.83%) while UNITECH is (6.53%).
  • 10.14 am. Nifty has opened with weakness at 2834 and went further down to 2822.

Pre Market Analysis 09.00 am.
  • Global cues negative and grim.
  • DLF scam of can have a negative impact.
  • The Momentum of Nifty may continue for 2-3 sessions.
  • Expected High/Low 2975/2795.
  • Nifty may close better.

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