Given the current trend, Nifty is likely to open positive today on account of positive global cues and may have a support level at 4886.68. If went further down it can touch 4838.96 or even 4758.33 at the bottom level. An upward movement can pull up to 4967.31. If moved up further can test 5015.03 and 5143.38.
The US markets closed near session highs, fuelled by a merger between two big Greek banks, a better-than-expected personal spending report and as the damage from Hurricane Irene over the weekend was less than feared. However, despite the day's strong rally, all three major indexes are still on track for their biggest monthly declines since May 2010. Dow Jones Industrial Average rose 2.26% or 254.71 points at 11539.25. Nasdaq Composite added 3.32% or 82.26 points at 2562.11. Standard & Poor's 500 gained 2.83% or 33.28 points at 1210.08.
Asian stocks rose for a fourth day, set for their longest streak of daily advances since July, after U.S. consumer spending and car sales increased and as companies across the region reported profit that beat estimates. Yesterday the European market closed shop in green with DAX up 132.59 points at 5670.07 and CAC up 66.56 points at 3154.20. The SGX Nifty was up 69 points at 5008.50 in opening trade at 8:45 am IST.
No comments:
Post a Comment