Pre-Market Report: 22.09.2009
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B. Karthick
Sep 22, 2009, 12:20:09 AM9/22/09
to Kences1
Market likely to trade in cautious mode.
Today domestic markets are likely to open marginally positive as
majority of Asian markets have also opened in green. There could be a
subdued opening due to lack of guidance from other markets. Domestic
markets have already reached its peak after some remarkable gains
during the last week. However from this level domestic liquidity and
firmness of international markets would play a crucial role. Today
domestic markets are likely to trade range bound.
On Friday, Indian market closed the today’s volatile session on flat
note as investors booked profits following steep rise in previous
sessions. Market continued to exhibit instability, as most of the
Asian stocks ended lower, which led selling pressure in the domestic
stocks. However, stocks tried to recover till mid session and again
during final trading hours on gains in Auto stocks. Further, the
negative opening of European markets hit the sentiments though they
recovered later and contributed a bit of recovery in domestic stocks
during last hours. Concerns regarding poor rains also contributed to
the uneasiness of investors, as the South West monsoon rains were 41%
below average in the week to 16 September 2009, according to the
government-run India Meteorological Department (IMD). The BSE Sensex
ended above 16,700 level and NSE Nifty closed above 4,950 mark.
The BSE Sensex closed marginally higher by 30.19 points at 16,741.30
and NSE Nifty ended slightly up by 10.50 points at 4,976.05. BSE Mid
Caps and Small Caps closed with gains of 27.61 and 56.14 points at
6,171.23 and 7,373.64 respectively. The BSE Sensex touched intraday
high of 16,765.03 and intraday low of 16,610.05..
"USE EVERY RISE TO BOOK PROFITS"
"ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS"
Key Levels for Today Trade:
NIFTY INDEX Resistance :4982 / 4999 / 5025 / 5049
NIFTY INDEX Support :4958 / 4925 / 4892 / 4860 / 4829
Mean :4970
Key Numbers for NIFTY on upside 4982 / 4999
Key numbers for NIFTY on down side 4958 / 4925
BANK NIFTY INDEX Resistance: 8439 / 8500 / 8621
BANK NIFTY INDEX Support : 8300 / 8222 / 8143 / 8065
Mean : 8369.5
Previous Close Box:
BSE Sensex 16,741.30 30.19
NSE Nifty 4,976.05 10.50
USD Rs.48.16
Oil Nymex $72.50
Today domestic markets are likely to open marginally positive as
majority of Asian markets have also opened in green. There could be a
subdued opening due to lack of guidance from other markets. Domestic
markets have already reached its peak after some remarkable gains
during the last week. However from this level domestic liquidity and
firmness of international markets would play a crucial role. Today
domestic markets are likely to trade range bound.
On Friday, Indian market closed the today’s volatile session on flat
note as investors booked profits following steep rise in previous
sessions. Market continued to exhibit instability, as most of the
Asian stocks ended lower, which led selling pressure in the domestic
stocks. However, stocks tried to recover till mid session and again
during final trading hours on gains in Auto stocks. Further, the
negative opening of European markets hit the sentiments though they
recovered later and contributed a bit of recovery in domestic stocks
during last hours. Concerns regarding poor rains also contributed to
the uneasiness of investors, as the South West monsoon rains were 41%
below average in the week to 16 September 2009, according to the
government-run India Meteorological Department (IMD). The BSE Sensex
ended above 16,700 level and NSE Nifty closed above 4,950 mark.
The BSE Sensex closed marginally higher by 30.19 points at 16,741.30
and NSE Nifty ended slightly up by 10.50 points at 4,976.05. BSE Mid
Caps and Small Caps closed with gains of 27.61 and 56.14 points at
6,171.23 and 7,373.64 respectively. The BSE Sensex touched intraday
high of 16,765.03 and intraday low of 16,610.05..
"USE EVERY RISE TO BOOK PROFITS"
"ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS"
Key Levels for Today Trade:
NIFTY INDEX Resistance :4982 / 4999 / 5025 / 5049
NIFTY INDEX Support :4958 / 4925 / 4892 / 4860 / 4829
Mean :4970
Key Numbers for NIFTY on upside 4982 / 4999
Key numbers for NIFTY on down side 4958 / 4925
BANK NIFTY INDEX Resistance: 8439 / 8500 / 8621
BANK NIFTY INDEX Support : 8300 / 8222 / 8143 / 8065
Mean : 8369.5
Previous Close Box:
BSE Sensex 16,741.30 30.19
NSE Nifty 4,976.05 10.50
USD Rs.48.16
Oil Nymex $72.50
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