GOOD MORNING!!!
MARKETS GOT OFF TO A GAP DOWN START TRACKING THE DISAPPOINTING LEADS FROM JAPANESE MARKETS WHICH TOOK AN EXTREME DIVERGENCE OF OVER 12% AS THE NATION CONTINUE TO COPE WITH THE AFTERMATH OF LAST WEEK'S DEVASTATING EARTHQUAKE AND MASSIVE TSUNAMI FOLLOWED BY A NEW EXPLOSION RESULTING IN RADIATION LEAK AT THE FUKUSHIMA NUCLEAR POWER PLANT. INITIALLY MARKETS SLIPPED IN DEEP RED AND WITHIN FEW MINUTES OF IT STARTED GAINING THE MOMENTUM IN THE FRONT END STOCKS ON ROBUST BUYING ESPECIALLY IN RELIANCE COUNTER AND RECOVERD ALMOST 130 POINTS IN NIFTY AND MORE THAN 300 POINTS IN SENSEX BUT WITH THE EUROPE MOVING CONTINUOUSLY ON TO LOWER LOWS WHICH HAD BLEEDED ALMOST 6% MARKETS STARTED GIVING AWAY THE RECOVERED GAINS AND POSTED DECENT LOSSES ON THE INDICES. VOLUMES IN THE MARKETS WERE GOOD ENOUGH AND BREADTH REMAINED VERY WEAK FOR THE ENTIRE DAY BARRING VERY FEW STOCKS. THE ONLY MARKET WHICH GOT RECOVERED IN THE LAST DAYS TRADE AFTER THE INITIAL DOWNFALL WAS INDIAN MARKETS. BANKING AND REALITY ALONG WITH AUTO STOCKS WERE UNDER PRESSURE AHEAD OF RBI’S MID-QUARTERLY POLICTY REVIEW TOMORROW THE 17 MARCH 2011
TODAY WE MAY OPEN GAP OPENING TRACKING POSITIVE OPENING OF ALL ASIAN PEERS. IF NIFTY TRADES ABOVE 5460 LEVELS THEN LIKELY TO MAKE ITS UPMOVE TO 5486 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5514 LEVELS AND FURTHER TO 5565 LEVELS ANY CLOSE ABOVE 5518 IS A POSITIVE SIGN IN THE MARKET IN THE DAY AHEAD. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5440 THEN LIKELY TO COME DOWN TO 5409 AND ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5378 AND ANY CLOSE BELOW 5400 IS A WEAK SIGN IN NIFTY AND WE MAY HEAD DOWN BELOW 5175 LEVEL IN A VERY SHORT TIME. ONE OF THE VERY CRUCIAL SUPPORT FOR NIFTY IS 5400 LEVELS, SO STAY CAUTIOUS AT THIS LEVEL AND ON THE UPSIDE NIFTY MAY RESIST 5500 LEVELS. STAY CAUTIOUS ON THE SECTORS LIKE AUTO, BANKING AND REALITY THESE MAY BE WEAK.
TODAY WE MAY OPEN GAP OPENING TRACKING POSITIVE OPENING OF ALL ASIAN PEERS. IF NIFTY TRADES ABOVE 5460 LEVELS THEN LIKELY TO MAKE ITS UPMOVE TO 5486 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5514 LEVELS AND FURTHER TO 5565 LEVELS ANY CLOSE ABOVE 5518 IS A POSITIVE SIGN IN THE MARKET IN THE DAY AHEAD. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5440 THEN LIKELY TO COME DOWN TO 5409 AND ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5378 AND ANY CLOSE BELOW 5400 IS A WEAK SIGN IN NIFTY AND WE MAY HEAD DOWN BELOW 5175 LEVEL IN A VERY SHORT TIME. ONE OF THE VERY CRUCIAL SUPPORT FOR NIFTY IS 5400 LEVELS, SO STAY CAUTIOUS AT THIS LEVEL AND ON THE UPSIDE NIFTY MAY RESIST 5500 LEVELS. STAY CAUTIOUS ON THE SECTORS LIKE AUTO, BANKING AND REALITY THESE MAY BE WEAK.
