Get ready for some early morning....

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Get ready for some early morning....

Post  RaahiShah on Mon Jul 23, 2012 3:07 pm

Get ready for some early morning weakness amid a mix of domestic and overseas sentiments. Asian markets have fallen after concerns about Spain’s worsening fiscal health and fresh trouble for Greece sent US and European stocks into a deep pit on Friday.

US stocks closed at session lows on Friday, with the main indices erasing monthly gains on trepidation about Spain’s precarious fiscal condition. Wall Street investors will watch out for fresh signs of a slowdown this week, as they digest more earnings and economic reports.

Back home, the focus will be on New Delhi, now that the Presidential election is out of the way. The Congress-NCP tension is in the spotlight amid reports of an impending Cabinet reshuffle. The Centre will find it tough to act on pending reforms amid continued opposition on sensitive issues like diesel decontrol and FDI in multi-brand retail. Few parties, including SP, have written to the Prime Minister not to go ahead with FDI in multi-brand retail, according to reports. Monsoon deficit remains an even bigger problem as inflation continues to be sticky while the twin deficits too remain elevated.

The main indices likely to be largely rangebound before the F&O expiry on Thursday. The falling gap appeared between 5260 and 5312 in the Nifty has been acting as a major resistance in the near term. On the daily chart, the ‘hammer’ appearing in last Wednesday’s session has so far not fell below the 5169 levels; that raises the chances of the Nifty retesting 5260 once again.

Key Results Today: Colgate Palmolive, Coromandel International, Dabur India, Geometric, Hindustan Unilever, Idea Cellular, Indian Bank, Jubilant Life Sciences, L&T, Merck, SJVN, Tata Global, Torrent Pharma and TV18 Broadcast.
stock tips |share market tips

RaahiShah

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Join date : 2012-02-13

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