As expected it was a flat day yesterday.The indices were seen moving
between positive and negative zone in the first hour of trade and the
index heavy weight RELIANCE was simultaneously hitting the highs and
lows in the first hour of trade.INFY which edged up higher in the first
hour of trade lost the steam and edged lower for the day so are the
other IT companies.The reason could be the Rupee strengthening and a
cautious view of the market participants ahead of the results of INFY
today.Reliance edged up later to continue the upward move.
INFY , HDFC results, IIP data, inflation data for the month of December are to be announced for the day.IIP data for the month of November may come at a much higher levels compared to the negative data for the month of October.Inflation data for December would be much lesser than the November's data.As this is widely expected I don't see markets rallying for a good set of numbers.INFY results to set the tone for the results season ahead.
German bond sales attracted stronger demand as the GDP for year 2011 came at 3% and the deficit is just 1% of the GDP.Spanish Industrial production for November came at -7% YoY the previous one was -4% (Revised to -4.2%). European indices edged lower for the day.
Tension between Iran and the west are growing day by day and the assassination of Iranian nuclear scientist yesterday added fuel to the fire.I will write a separate article on the same to throw more light on the recent developments.
I expect our markets to be volatile with a negative bias ahead of the big events scheduled for the day.
Alex sir's Nifty levels for the day.
Nifty resistance is at 4886 and 4900. Supports are at 4836,4828 and 4802.
INFY , HDFC results, IIP data, inflation data for the month of December are to be announced for the day.IIP data for the month of November may come at a much higher levels compared to the negative data for the month of October.Inflation data for December would be much lesser than the November's data.As this is widely expected I don't see markets rallying for a good set of numbers.INFY results to set the tone for the results season ahead.
German bond sales attracted stronger demand as the GDP for year 2011 came at 3% and the deficit is just 1% of the GDP.Spanish Industrial production for November came at -7% YoY the previous one was -4% (Revised to -4.2%). European indices edged lower for the day.
Tension between Iran and the west are growing day by day and the assassination of Iranian nuclear scientist yesterday added fuel to the fire.I will write a separate article on the same to throw more light on the recent developments.
I expect our markets to be volatile with a negative bias ahead of the big events scheduled for the day.
Alex sir's Nifty levels for the day.
Nifty resistance is at 4886 and 4900. Supports are at 4836,4828 and 4802.
