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Apr 08, 2009, 09.49 AM IST
According to ICICIdirect.com's report, the Sensex has supports at 10350 and 10080 and resistances at 10580 and 10660. The Nifty has supports at 3210 and 3170 and resistances at 3270 and 3310.
According to ICICIdirect.com's report, the Sensex has supports at 10350 and 10080 and resistances at 10580 and 10660. The Nifty has supports at 3210 and 3170 and resistances at 3270 and 3310.
ICICIdirect.com's report:
The Sensex has supports at 10350 and 10080 and resistances at 10580 and 10660. The Nifty has supports at 3210 and 3170 and resistances at 3270 and 3310. Asian stocks are trading in the red in the early session. Nikkei lost 2 % with Kyocera Corp and other tech firms down after losses by their U.S. peers as worries about earnings prompted investors to take profits. Hang seng is down more than 3% while Kospi is trading down nearly 2%. US stocks slid on Tuesday, hammered by fears that companies will show they struggled in the first quarter as the recession dragged on as the earnings season kicked off with Alcoa. Earnings for S&P 500 companies are expected to fall by 36.9 %, according to Thomson Reuters data. Analysts said they would be watching for comments from companies on outlooks for the rest of the year to see if the recent rally is sustainable. The Dow fell 186.3 points, or 2.3 %, to 7,789.6. The S&P 500 lost 19.9 points, or 2.4 %, to 815.6. The Nasdaq gave up 45.1 points, or 2.8 %, at 1,561.6. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. ......
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Indian markets are likely to open gap down following global cues. Our markets are likely to catch up with the world markets on the downside on account of profit booking across global markets. The global markets were down on previous trading session as well when our markets were closed so there is some catching up on the downside because of this reason as well. We feel one should lighten up there positions if they are in profits at this point of time and wait for lower levels to accumulate momentum stocks again. We also have important domestic event i.e. elections so markets will take its cues from the expected outcome of the event. But the key driver for now will be global markets and if we see global rally continuing after a small correction then our markets will also go up again.
