Wednesday, April 13, 2011

MARKET OUTLOOK FOR 13.04.2011

GLOBAL MARKETS ARE DOWN  AFTER JAPAN  RAISED ALARM OVER  FUKUSHIMA NUCLEAR POWER PLANT DISASTER, STATING IT AS BAD AS CHERNOBYL.  DOW  CLOSED 117 POINTS DOWN; EU MARKETS DOWN ABOUT 1.5% EACH; HOWEVER ASIAN MARKETS  ARE DOWN MARGINALLY;  SGX NIFTY DOWN 60 POINTS AT 5740;

WE EXPECT OUR MARKETS  TO TOE THE LINE AND OPEN GAP DOWN AROUND 5760; NIFTY FUTURES COULD TRADE IN BROAD RANGE OF 5720 - 5860;

NIFTY FUT  BULLISH  ABOVE  5820  FOR TARGETS OF 5845/5865
NIFTY FUT  BEARISH  BELOW 5790  FOR TARGETS OF 5760/5745/5725

RAJAN IYER

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