Indian market is likely to open on cautious note today. Friday, market ended in deep red on back heavy selling pressure. BSE sensex closed at 13632.53 down by 388.78 points while Nifty was down by 101.05 points to close at 3938.95. The outlook for the market is cautious.
Friday, US markets closed lower on back rise in oil price and concerns about a meltdown in the subprime mortgage. DOW closed down 38.54 points at 12647.48 and NASDAQ was 9.84 points down to close at 2515.10.
The major stock markets in Asia are trading mixed on Monday. Nikkei 225 index was 92.43 points up at 18280.85. Hang Seng was down by 144.70 points at 20566.95 and Straits Times was up 3.30 points at 3313.74. Oil prices traded above $61 a barrel.
Today, Nifty has support at 3800 and resistance at 4,025 and BSE Sensex has support at 13,480 and resistance at 13950. However, it is our advice to watch trading session carefully.
FIIs were net sellers to the tune of Rs225.20crores in equity (provisional) on 22nd February 2007. Mutual funds were net purchasers to the tune of Rs0.75crores in equity (provisional) on 21st February 2007.
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1 comment:
You write very well.
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