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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