The market closed nearly 2% up Sensex @ 19470 & Nifty @ 5851 - the market opened 100 points up @ 19250 and traded in the range of 19200 - 19500 Nifty range 5765-5865. closing near the top of the range.
The apparent trigger seem to the world market which also rallied 1.5% to 2%
It seems Nifty has settled on a broad range of 5650 - 5950 (sensex 19000-19600).
Tomorrow being the last day of trading before easter break - market once again likely to test the 5920-50 and if it crosses decisively then can expect further move next week to 6000-6050.
But in the last 10 days Nifty has touched around 5920 - 2 times and sharply fallen back to 5750 levels.
Tomorrows results - Reliance and TCS - TCS rallied by over 4% today discounting the expected earnings- so unless they come out with some overly fantastic results - the prices are likely to fall .
reliance on the other hand has been besieged with so many bad news (regarding gas production) that the rally in this scrip could be very sharp if the earnings beat the analysts estimates. This could trigger the market to reach the 6000 levels.
With the macro indicators - inflation @ 9% - interest rates likely to move up further 25 basis points and the overall earnings downgrade for 2012 - its time to sell on rallies. But caution needs to be exercised as the F&O expiry is on 28 April - and also by then most of the major results would be in .
It seems Markets in May is heading for a major fall .
The apparent trigger seem to the world market which also rallied 1.5% to 2%
It seems Nifty has settled on a broad range of 5650 - 5950 (sensex 19000-19600).
Tomorrow being the last day of trading before easter break - market once again likely to test the 5920-50 and if it crosses decisively then can expect further move next week to 6000-6050.
But in the last 10 days Nifty has touched around 5920 - 2 times and sharply fallen back to 5750 levels.
Tomorrows results - Reliance and TCS - TCS rallied by over 4% today discounting the expected earnings- so unless they come out with some overly fantastic results - the prices are likely to fall .
reliance on the other hand has been besieged with so many bad news (regarding gas production) that the rally in this scrip could be very sharp if the earnings beat the analysts estimates. This could trigger the market to reach the 6000 levels.
With the macro indicators - inflation @ 9% - interest rates likely to move up further 25 basis points and the overall earnings downgrade for 2012 - its time to sell on rallies. But caution needs to be exercised as the F&O expiry is on 28 April - and also by then most of the major results would be in .
It seems Markets in May is heading for a major fall .
still seem to hold a bearish sentiment. what is the next big market news going to be?
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