Market Outlook and expectation for today (30082011)

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.

Market Outlook and expectation for tomorrow (25082011)

Given the current trend, Nifty is likely to open positive today on account of positive global cues and may have a support level at 4855.33. If went further down it can touch 4821.76 or even 4734.66 at the bottom level. An upward movement can pull up to 4908.86. If moved up further can test 4942.43 and 4995.96.

US stocks rose on Wednesday after the Congressional Budget Office offered an upbeat forecast on the worrisome budget deficits and data showed a strong reading on durable goods orders. The Dow Jones industrial average was up 104.52 points, or 0.94%, at 11,281.28. The Standard & Poor's 500 Index rose 12.25 points, or 1.05%, at 1,174.60. The Nasdaq Composite Index added 22.70 points, or 0.93%, at 2,468.76.

Asian markets have opened in green following the trend in the US markets with indices up nearly 1%. SGX Nifty was up 43 points at 7:50 am IST indicating a positive opening for our markets. European stocks climbed for a third day after a report on U.S. durable-goods orders beat forecasts amid ongoing speculation that the Federal Reserve would act to bolster the economy. All major indices were up by more than 1%.

Market Outlook and expectation for tomorrow (24082011)

Given the current trend, Nifty is likely to open with a flat to negative note today and may have a support level at 4926.16. If went further down it can touch 4886.53 or even 4824.16 at the bottom level. An upward movement can pull up to 4988.53. If moved up further can test 5028.16 and 5130.16.

Dow Jones Industrial Average added 2.97% or 322.11 points at 11176.76. Nasdaq Composite rose 4.29% or 100.68 points at 2446.06. Standard & Poor's 500 advanced 3.43% or 38.53 points at 1162.35 after investors shrugged off a handful of disappointing economic news as investors will watch for signs of possible round of asset purchases at the Fed speech on Friday. Asian markets have opened in red after Moody’s cut Japan’s debt rating to Aa3. SGX Nifty has opened 25.50 points down at 4919.50, giving an indication for a negative start in the Indian stock markets too.

Market Outlook and expectation for tomorrow (23082011)

Given the current trend, Nifty is likely to open with a positive note today and may have a support level at 4872.53. If went further down it can touch 4835.01 or even 4771.23 at the bottom level. An upward movement can pull up to 4936.31. If moved up further can test 4973.83 and 5075.13.

The Dow Jones Industrial Average rose 37 points or 0.34%, to close at 10,854.65. NASDAQ Composite went up 3.54 points or 0.15%, to end at 2,345.38 and the S&P 500 Index closed at 1,123.82, up 0.29 points. European markets bounced back, after a steep sell-off last week. Political developments in Libya added to positive investor sentiment as oil companies look ahead to resume activities in the country. The Asian markets too opened in green and are currently in the positive territory.

Market Outlook and expectation for tomorrow (22082011)

The Indian stock markets witnessed a sharp down fall on 19/08/2011, possibly due to the fall in overseas market. Major US, Asian and European markets moved to red on concern that the global recovery is slowing down. By noon, the market received some news regarding a massive earthquake in Japan and consequently the warning issued about a possible Tsunami. Crude traded with negative trend, but gold moved up further indicating the investors’ preference for a safe platform to keep their money away from the vagaries of equity markets.

Nifty opened with a downside gap of 84.85 points. The negative trend continued and touched as low as 4797.90. Nifty closed at 4846.75. The major losers were Tata Motors, Infosys, L&T, BHEL, Dr. Reddy, Axis Bank, ICICI Bank, TCS, Sun Pharma and ITC. The fall in the stock prices ranged from 2.62% to 5.68%. JP Associates, DLF, Hero Motors, Hindalco and Reliance Infra recorded gains for the day.

BSE Sensex closed with a downside gap of 328.12 points at 16141.67. The top gainers on BSE were JPAssociates at 59.50 (2.49%), DLF at 186.9 (2.46%), Hero Honda at 1993.65 (2.19%) and Hindalco at 139.3 (1.12%). The main losers were Infosys Tech. At 2225.40 (5.78%), Tata motors at 713.40 (5.27%), L&T at 1544.95 (4.95%) and BHEL at 1683.25 (4.62%).

Given the current trend, Nifty is likely to open with a flattish note today and may have a support level at 4891.33. If went further down it can touch 4796.63 or even 4747.61 at the bottom level. An upward movement can pull up to 4894.13. If moved up further can test 4942.61 and 5040.11. The banking system is again facing the threat of another interest rate hike, which can invite negative sentiments into the market.  Considering the expiry week, there could be a minor pullback due to short covering, but the general trend in the market is likely to be gloomy.