Sensex set to consolidate on the first trading day of the week Stocks on Dalal Street are likely to open lower on the first trading day of the week. Negative global cues and some profit booking might create some selling pressure early in the morning. Expect the benchmark index or the Sensex to trade lower by 0.5 percent or nearly 70 to 80 points for the day.
Asian markets opened in red following the fall on Wall Street on Friday. The Japanese benchmark Nikkei dropped nearly 1 percent in early trade even after the good news on economic front. South korea's Kospi opened lower by 0.2 percent in the first hour of trade. On Wall Street, stocks lost ground Friday after consumer sentiment and weak earnings halted a two-day rally.The Dow Jones Industrial Average lost 77 points, or 0.8%, to 9,321 while the S&P 500 fell nine points, or 0.9%, to 1,004. The Nasdaq recovered from a nearly 2% dip to close down 24 points, or 1.2%, to 1,986. Realty and IT stocks witnessed some profit booking on Friday, after decent gains earlier in the week. Consumer Durables and PSU's fared better than other sectors. We advice investors to book profits in Sugar and Agri Commodity stocks, as the run up has been vertical and is unwarranted in our opinion. There could be some pull back in Oil & Gas related stocks like ONGC, Cairn India and BPCl after a good day on Friday. NIIT Technologies, Brand House Retail, Nocil Ltd spurted on huge volumes and look poised for another day of gains. Assam Co Ltd, Vakrangee Software and ICSA are some of the stocks that are worth keeping an eye on for short term traders. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4585 / 4605 / 4636 / 4680 / 4694 NIFTY INDEX Support : 4571 / 4564/ 4513 / 4502 / 4469 Mean : 4578 Key Numbers for NIFTY on upside 4680 / 4636 / 4680 Key numbers for NIFTY on down side 4513 / 4469 / 4457 BANK NIFTY INDEX Resistance: 7501 / 7585 / 7668 BANK NIFTY INDEX Support : 7367 / 7281 / 7186 Mean : 7434 Previous Close Box: BSE Sensex 15411.63 -106.86 NSE Nifty 4580.05 -24.95 USD Rs.48.27 Oil Nymex $67.47 B.Karthick Research Analyst --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
