Share Market Weekly Reports and Review

Indian Markets Review and Report

Equity benchmarks were trying to hold psychologically important levels since morning trade - the Nifty at 6000 and the Sensex at 20000 mark. Oil & gas, financial, metal, technology, realty.

India's merchandise exports rose 21.3% to $18 billion in October 2010 over October 2009, boosting hopes that the country may be able to reach the $200 billion target fixed for the current fiscal.

Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia for its proximity, compared to Australia and Africa.

Global Markets Review and Report

Asian stocks surged on Thursday, 2 December 2010, after improved economic indicators powered big gains on Wall Street and worries eased about Europe's debt problems. The key benchmark indices in China, Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan rose by between 0.4% to 1.78%.

Stocks jumped, sending U.S. benchmark indexes to their biggest gains in three months, while the euro and commodities rallied and Treasuries slid amid improving data on the American and Chinese economies and speculation of a larger effort to end Europe's debt crisis.

The European Central Bank is expected to keep unlimited liquidity operations in place for longer with the euro zone debt crisis raging unabated, but is unlikely to announce mass new bond purchases on Thursday.

Nifty Futures Trend for Friday 03rd Dec.

Nifty future has strong resistance at 6060 and traded in a narrow  range, and closed near to its resistance level, if nifty future sustain above 6060 level we can see some  more up move to  6150 levels. One should take long position above 6060 level . Resistance for nifty future 6060/6150 and support is at 5925/5875.

Resistance: It has first resistance close to the level of 6060 & after it may face the next resistance close to the level of 6150.
          
Support: It has first support close to the level of 5925 & after it may get the next support close to the level of 5875.

Bank nifty future traded in a narrow range and consolidated but overall trend is bullish, bank nifty future closed near to its days high. If  it manages to sustain above 12670 level it can take some more up move from here. Resistance for bank nifty is at 12670/12850 and support is at the level of  12300/12185.

Resistance: It has first resistance close to the level of 12245 & after it may face the next resistance close to the level of 12670.
           
Support: It has first support close to the level of 12185 & after it may get the next support close to the level of 12100.

Share Market News and Review

Indian Market:

Equity benchmarks closed another session on a strong note - the 50-share NSE Nifty held 5950 level at close on Wednesday by rising 98 points. Indices consistently maintained their uptrend this week. Buying nearly in all sectors and positive global cues were the supportive factors for today's rally.

Bharat Heavy Electricals (Bhel) has bagged an order worth Rs 3700 crore to supply the country's first super critical 700-megawatts coal fired unit of Karnataka Power Corporation (KPCL) for its thermal power station (TPS) at Bellary.

Coal India, the world's largest coal miner, is looking at buying over 10 percent in an asset of Australia's Peabody and has ample funds for overseas acquisitions.

Click Here For Tomorrow's 02nd Dec. 2010 Share Market Tips

Global Cues:

Asian stocks fell on Wednesday, 1 December 2010, as an overnight fall on Wall Street, worries over European debt troubles and geopolitical tensions on the Korean peninsula weighed on sentiment. The key benchmark indices in Singapore , China, Hong Kong, Taiwan fell between 0.04% to 0.29%. The key benchmark indices in South Korea, Japan and Indonesia rose between 0.42% to 1.09%.

European stocks climbed for the first time in four days, rebounding from an eight-week low, as Chinese manufacturing expanded for a fourth straight month. U.S. index futures and Asian shares gained.

The euro zone's debt crisis deepened, with investors pushing the single currency lower and the spreads on peripheral bonds to new highs amid concern weak member states may ultimately be forced to default.

Nifty View and Recommendation for 02nd Dec., Thursday

Technical View on Nifty Futures

Nifty future  as expected saw a good  recovery and closed near to its resistance level , we can expected some more up move above 6000 psychological level, if  it manages to sustain above 6000 level we can see next level of 6070 level in short term. One should be long in nifty future till it stays above 5900 levels. Resistance for nifty future is at level of  6027/ 6060 and support is at 5925 /5865.

Resistance: It has first resistance close to the level of 6027 & after it may face the next resistance close to the level of 6060.

Support: It has first support close to the level of 5925 & after it may get the next support close to the level of 5865.

Technical View on Bank Nifty Futures

Bank nifty  future saw a recovery from last two trading days and it may continue in next trading day, if it sustains above 12450 level we can see some more up move from here to 12670 levels.  Resistance for  bank nifty future is at 12445/12670 and support is at 12185/12100 levels.

Resistance: It has first resistance close to the level of 12245 & after it may face the next resistance close to the level of 12670.

Support: It has first support close to the level of 12185 & after it may get the next support close to the level of 12100.

Report on Indian and Global Stock Market

Indian Market:

30-share BSE Sensex closed at 19,521.25, up 116.15 points or 0.60%, after seeing recovery of 303.23 points from day's low of 19,218.02. The broader indices outperformed benchmarks; BSE Midcap Index was up 1.4% and Smallcap up 1.9%.

The RBI has also further eased Statutory Liquidity Ratio (SLR) requirements as a temporary measure. Banks can now maintain a lower SLR that is two percentage points less than the current requirement. Earlier, they were allowed a one percentage point relief.

Telecom value-added services provider One97 Communications Ltd has delayed its initial public offering by about two weeks due to the current market volatility.

Global Cues:

Most Asian markets were trading lower today, 30 November 2010, on lingering concerns Europe's debt crisis may spread. The key benchmark indices in Indonesia, Singapore, Hong Kong, Japan and China fell by between 0.19% and 0.93%. But, the key benchmark indices in South Korea and Taiwan were up 1.07% and 0.90% respectively.

The U.S. government said on Monday it deeply regretted the release of any classified information and would tighten security to prevent leaks such as WikiLeaks' disclosure of a trove of State Department cables.

Portugal's banks may face an "intolerable risk" if the country fails to consolidate its public finances, the Bank of Portugal warned on Tuesday