GOOD MORNING!!!
KEY INICES POSTED SMALL GAINS ON SLIGHT RAISE IN EUROPEAN MARKETS REVERSING EARLY LOSSES AND US INDEX FUTURES POSITIVE. MOST OF THE ASIAN STOCKS ROSE REVERSING INITIAL LOSSES. THE MARKET STARTED IN A POSITIVE NOTE THEN DECLINED IN THE MIDDAY WEAKENING THE MARKET BREADTH. AUTO STOCKS EDGED HIGHER ON FRESH BUYING. BANKING SHARES WERE MIXED. TELECOM PIVOTALS SAW DIVERGENT TREND. BUT, IT STOCKS DECLINED ON PROFIT TAKING FOLLOWING RECENT GAINS TRIGGERED BY UPBEAT US JOBS DATA. HERO HONDA MOTORS STRUCK A RECORD HIGH TO RS 1940.
THE KEY FACTORS WERE MARKETS WOULD LARGELY BE INFULENCED IN THE COMING DAYS AND DECIDE THE TREND ARE: -
(A) THE ANNOUNCEMENT OF INDUSTRIAL OUTPUT DATA FOR THE MONTH OF JANUARY 2010 TOMORROW, WHICH GREW BY 16.8% IN DECEMBER 2009.
(B) THE FOURTH AND LAST INSTALLEMENT OF ADVANCE TAX BY INDIA INC DUE ON 15 MARCH WILL GIVE A BROAD INDICATION FOURTH QUARTER EARNING.
(C) FOOD PRICES WILL BE KEENLY WATCHED IN COMING WEEKS FOR THE SECOND AND THIRD ROUND IMPACTS OF THE RECENT FUEL PRICE RISE. WE EXPECT 25 BASIS POINTS HIKE IN THE REPO AND REVERSE REPO RATES EACH BY THE RBI AT THE APRIL 2010 POLICY REVIEW.
TODAY MARKETS LOOKS RANGE BOUND. MARKETS MAY NOT SHOW A CLEAR TREND TILL TOMORROW WE MAY SEE A CLEAR TREND FROM TOMORROW AFTER THE ANNOUNCEMENT OF IIP DATA. TODAY IF NIFTY TRADES ABOVE 5140 THEN LIKELY TO SEE NIFTY TO GO TO 5170 AND ANY CLOSE ABOVE THIS POINT IS CONSIDERED TO BE POSITIVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5100 THEN LIKELY TO DECLINE TO 5060 AND BREAK BELOW THIS LEVEL WOULD DRAG TO 5040, TRADE AND CLOSE BELOW 5040 LEVELS WOULD DRAG NIFTY TO FURTHER DOWNSIDE. STAY CAUTIOUS IN THE MARKET FROM NOW ON TILL THERE IS CLEAR TREND.
THE KEY FACTORS WERE MARKETS WOULD LARGELY BE INFULENCED IN THE COMING DAYS AND DECIDE THE TREND ARE: -
(A) THE ANNOUNCEMENT OF INDUSTRIAL OUTPUT DATA FOR THE MONTH OF JANUARY 2010 TOMORROW, WHICH GREW BY 16.8% IN DECEMBER 2009.
(B) THE FOURTH AND LAST INSTALLEMENT OF ADVANCE TAX BY INDIA INC DUE ON 15 MARCH WILL GIVE A BROAD INDICATION FOURTH QUARTER EARNING.
(C) FOOD PRICES WILL BE KEENLY WATCHED IN COMING WEEKS FOR THE SECOND AND THIRD ROUND IMPACTS OF THE RECENT FUEL PRICE RISE. WE EXPECT 25 BASIS POINTS HIKE IN THE REPO AND REVERSE REPO RATES EACH BY THE RBI AT THE APRIL 2010 POLICY REVIEW.
TODAY MARKETS LOOKS RANGE BOUND. MARKETS MAY NOT SHOW A CLEAR TREND TILL TOMORROW WE MAY SEE A CLEAR TREND FROM TOMORROW AFTER THE ANNOUNCEMENT OF IIP DATA. TODAY IF NIFTY TRADES ABOVE 5140 THEN LIKELY TO SEE NIFTY TO GO TO 5170 AND ANY CLOSE ABOVE THIS POINT IS CONSIDERED TO BE POSITIVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5100 THEN LIKELY TO DECLINE TO 5060 AND BREAK BELOW THIS LEVEL WOULD DRAG TO 5040, TRADE AND CLOSE BELOW 5040 LEVELS WOULD DRAG NIFTY TO FURTHER DOWNSIDE. STAY CAUTIOUS IN THE MARKET FROM NOW ON TILL THERE IS CLEAR TREND.
NO RECOMMENDATIONS FOR THE DAY
