Todays report 28 MAY 2009

On the final day of the derivative expiry of the May series Nifty opened on a relatively positive note amid mixed global sentiments and further pulled up during the day's trade. It managed to close above 4320, But the concern today was the resistance level of 4337 and if that was broken convincingly then of course the movement would have been upward. In fact with today's performance the market has recouped its strength, which is good sign, indicating the buying pressure in the market.Nifty options have seen writing at 4300-4350 levels resulting in selling at higher levels. Put writing is seen at 4150-4200 levels. In the June series writing is seen at 4500-4600 levels; though the build up remains on the lower side.In US Investors take data on durable goods and jobless claims in stride, stocks solidly higher. The worst credit crisis since the Great Depression has prompted economists to scale back forecasts for growth in the second half of the year.

Market outlook for today 280may09

Positive global cues powered our market that closed at the day's high with good buying in realty, banking and power stocks.The Sensex finally ended the day up by a whopping 520 points or 3.83 per cent to 14110 points. The only concern today was the resistance level of 14000-14050 and if that was broken then of course the movement would have been upward. But we didn't expect such a sharp movement upward. In fact with today's performance the market has not only recouped yesterday's losses, but also moved up by more than 100 points, which is good sign, indicating the strength of the market. Sectors that helped the market move up sharply were again realty, bankex, power and psu, which were up by 6.09, 5.42, 4.89 and 4.71 per cent respectively. The Advance decline ratio too is in favour of the advances. This ratio stood at 2347 advances to 459 declines, which also indicates that market could open gap up tomorrow as well.

BSE Sensex (14110): It is good that volatility is not ruled out on the F&O expiry. Now support is seen around 13950 and resistance to the up move is ate 14200-14500

NiftyTechnical Trend (4276) the support for the Nifty is at 4200 and the resistance to the up move is at 4380/4420:

Closing bell 27.05.09

Strong buying activity during the final hour of trade led the Indian markets to end the day on a firm note as the BSE-Sensex ended the day higher by around 520 points, while the NSE-Nifty closed higher by about 160 points. Stocks from the mid-cap and small-cap spaces ended the day on a strong note, recording gains of 3.7% and 3.4% respectively. Buying activity was witnessed in stocks across sectors led by realty, banking and power. However stocks from the healthcare and FMCG spaces were less in favour.Asian markets ended the day on a firm note. The European indices are currently trading in the green as well. Rupee was trading at 47.7 against the US dollar at the time of writing.

Market says 26 may 09

The global financial crisis is not yet over, says Finance Minister Pranab Mukherjee on CNBC TV18. The government's goal is to bring back the economy on growth path and budget will be presented in first week of July, he feels. We hope to pass the budget by July end, he says. Massive investment in infrastructure is needed to spur growth, he says. We need a faster pace of investment in infrastructure, he adds. We hope to see more participation from FIIs, he says. I welcome the Bharti-MTN deal, he adds. We see global growth picking up from October, he says.

Outlook for 27 may 2009

The market is said to be UP as long as 13611 holds…but volatility cannot be ruled out’ the market cracked the 13611 market and cracked but managing to stay above 13480…13480 is a very crucial support and if that goes now then the next support is closer to 13000-12270.
The support for the Sensex is 13278-12889 and the resistance to the up move is at 13820
Nifty: (4117) the support for the Nifty is at 4022-3907 and the resistance to the up move is at 4205