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Time: 7.45 am
Pre Market Report:
- US markets rose.
- Russian clarification regarding Ukraine helped lift sentiment.
- Asian markets are positive, except China and Hong Kong.
- China economic problems will continue to be around for few more months.
- SGX Nifty is trading around 6580.
- After a big break out the week before, last week and yesterday, put together 6 trading sessions, our markets consolidated.
- After 6 trading sessions, after FIIs pumped in more than a billion dollars, Nifty is still down by 10 points from March 7 close.
- Today also markets are not likely to break out ahead of Fed announcement regarding bond purchase tonight.
- But one day markets will break higher, that will very and and furious.
- For today once again the range for Nifty future will be 6520 and 6600.
Comments
Josiyam for today, Nifty Spot Res @ 6593, 6665 ; Supp @ 6520, 6484
ReplyDeleteBank Nifty Res @ 12393 ; Supp @ 12054, 11900
ReplyDeleteCNX Pharma likely to go down next week or anytime, CNX Pharma face RES @ 7826 ; One can go Short in CE's of Cipla, DrReddy, Glenmark, Lupin, Ranbaxy Labs, SunPh after careful deliberation.
ReplyDeleteJosiyam gone wrong as of now. Pharma index is up. Nifty and Bank Nifty is sideways mode as of now.
ReplyDeleteJosiyam has not gone wrong as there is time till next week. After a big fall, it is expected to rise few points up. Only weekly closing will decide its trend.
ReplyDeleteI forgot to post about CNX Energy falling after a significant rise. Auto is close to top as well. I would check everything on Friday, as it's difficult to analyse everyday.
ReplyDeleteAs said in earlier post, CNX Pharma facing RES @ 7826 ... I would wait for confirmation on Friday.
ReplyDeleteAs I said, CNX Pharma couldn't break above 7820
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