"Inflation data released shows that it is at 4.8% down over last week. Japan Central Bank has left the rates unchanged at 0.50% All the asian indices, excepting China are positive. Sensex touched 20 DSMA and retreated from there due to profit booking, while Nifty is well below the 20 DSMA of 4225.
Indices are likely to close positive today and also for the week, which is positive sign for the bulls. Advance tax payments data shall be known by monday, which gives the likely performance for this quarter, based on which the positions will be built by players. Rupee shall oscillate between 40.50 and 41.50 during this month, Huge inflow of dollars expected during the month on account of subscription to DLF and ICICI public issues by FIIs, OCBs etc., which keep the rupee in tight spot.
Once 4225 on nifty is taken out with large volumes, markets will resume uptrend, till then sideways consolidation cum distribution takes place in a band of 4100 to 4250.
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Friday, June 15, 2007
Markets Today
Posted by BK VRK Rao at 12:31 PM
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