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Monday, 23 April 2012

Pre Open Thoughts: Recovery After Slump!!!


Pre Open Thoughts: Recovery After Slump!!!
Ø  Courage consists in the power of self-recovery It wasn’t a good trading day on Friday, as a bout of thick and fast, sparking panic selling dip, triggered stop losses for other trades as well which accentuated the fall and extended investors' losses. However, the NSE clarified that its trading systems worked normally and all the trades executed were within the price limits prescribed by SEBI.  
Ø  But, a recovery seems to be on the cards, as US stocks didn’t fall as much as other markets. They did end near in green. European stocks too bounced back.
Ø  Trading in stock markets is expected to be volatile this week as investors are likely to take cues from corporate earnings. The future & options derivative contracts expiry on Thursday will also keep markets choppy. Country's most valued company RIL had already posted 21 per cent dip in fourth quarter earnings which was reported after the close of trading hours on Friday. there is definite positive surprise on the GRM (Gross Refining Margins).
Ø  Meanwhile RBI expects India's FY13 GDP to grow by 7.3%.
Ø  Technically, the Nifty is expected to trade in the 5,200 to 5,400 range as it has done in the past few trading sessions. A decisive move will only happen if it breaks the 5,400 mark on the upside. On the downside, 5,200 is the key level to watch out for and a further downside is expected if the index breaks this level.
Ø  The FIIs were net buyers of Rs. 3.14bn in the cash segment on Friday while the domestic institutional investors (DIIs) were net buyers of 1.34bn, as per the provisional figures released by the NSE.

Results Today:
Alstom Projects, BOC India, Coromandel International, Geometric, M&M Financial, Noida Toll, Rallis India, Tata Sponge, TCS and Ultratech Cement.

Global Data Watch:
Australia PPI, China flash manufacturing PMI, Japan leading economic index, UK nationwide housing prices, Germany flash manufacturing and services PMI and Eurozone flash manufacturing and services PMI.

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