Yesterday ,Nifty futures opened at 4680.55(It was the day's low as well)
and there was no looking back.We closed near the day's high for the
day.India's PMI ,direct entry for individual FIIs into equity markets
were the good news in the domestic front.Interest rate sensitive stocks
rallied for the day as the Central Bank hinted at easing the monetary
policy.A postponement in the fuel price hike supported the sentiment as
well(It was widely expected that the petrol prices would be hiked by 2Rs
to a liter).
A good set of economic data from the EU supported the rally in the later part of the day.German unemployment fell more than expected and UK's PMI rose by 2 points in December to 49.6 compared to 47.7(revised) in the month of November.Both these data surprised the markets positively.
If you remember SEBI had earlier directed the promoters to dilute their stake to 75% or below before June 2013.But QIP placement to dilute the same has not been allowed.To facilitate the dilution of promoter shares SEBI had yesterday allowed the auctioning of the promoter stake through the secondary markets.This move would help the divestment plans of the Government and aimed at helping the promoters to raise capital either by diluting their stakes or by issuing fresh equity.
In the macro economic front, Iran conducted its Missiles tests and had warned USA of an attack if the USA's air craft carrier enters into the territorial waters of Iran again.And tension is mounting between Turkey and Syria as a Russian aircraft carrier and a number of Navy ships are sent to Syria,mentioned Syrian newspaper Al Watan.After a long gap Russia is seen entering into the International arena with its Military supremacy.Russia had earlier supplied Syria with its supersonic anti-ship Missiles.
These developments had sent the crude and Gold prices higher.
Nikkei had opened after a 2 day holiday and is trading higher by more than a percentage.Hang Seng trades marginally negative.
I expect our markets to open flat to positive and traders can book profits in their longs around 4800 levels.Stay cautious at higher levels.
Alex Sir's Nifty(Spot) View:
Resistances for the day are at 4780 and 4810. Supports for the day are at 4735 and 4705.
A good set of economic data from the EU supported the rally in the later part of the day.German unemployment fell more than expected and UK's PMI rose by 2 points in December to 49.6 compared to 47.7(revised) in the month of November.Both these data surprised the markets positively.
If you remember SEBI had earlier directed the promoters to dilute their stake to 75% or below before June 2013.But QIP placement to dilute the same has not been allowed.To facilitate the dilution of promoter shares SEBI had yesterday allowed the auctioning of the promoter stake through the secondary markets.This move would help the divestment plans of the Government and aimed at helping the promoters to raise capital either by diluting their stakes or by issuing fresh equity.
In the macro economic front, Iran conducted its Missiles tests and had warned USA of an attack if the USA's air craft carrier enters into the territorial waters of Iran again.And tension is mounting between Turkey and Syria as a Russian aircraft carrier and a number of Navy ships are sent to Syria,mentioned Syrian newspaper Al Watan.After a long gap Russia is seen entering into the International arena with its Military supremacy.Russia had earlier supplied Syria with its supersonic anti-ship Missiles.
These developments had sent the crude and Gold prices higher.
Nikkei had opened after a 2 day holiday and is trading higher by more than a percentage.Hang Seng trades marginally negative.
I expect our markets to open flat to positive and traders can book profits in their longs around 4800 levels.Stay cautious at higher levels.
Alex Sir's Nifty(Spot) View:
Resistances for the day are at 4780 and 4810. Supports for the day are at 4735 and 4705.
