Indian equities are likely to open flat today, i.e., Nov. 9, 2010. SGX Nifty is trading at 6,317, 16.50 points higher than Monday closing of 6,300.5
Asian stocks fell, dragging the regional benchmark index from a more than two-year high, as Oil and Metal prices retreated. Japanese benchmark index Nikkei 225 fell 18.59 points, or 0.19%, to trade at 9,714.33
US Market stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008. The Dow Jones industrial average fell 37.24 points, or 0.33%, to close at 11,406.84.
European stocks finished mostly lower on Monday, taking a breather from the gains sparked last week by the Federal Reserve`s second round of quantitative easing and after investors` focus switched back to the stubbornly persisting euro-zone sovereign debt threat. UK`s benchmark index FTSE 100 declined 25.39 points, or 0.43%, to end at 5,849.96.
Oil hovered near USD 87 a barrel Monday in Asia after a jump in new U.S. jobs suggested demand for crude could improve. Benchmark oil for December delivery was up 10 cents at USD 86.95 a barrel at late morning Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 36 cents to settle at USD 86.85 on Friday.
In the spot market, the Dollar Index increased 0.134% to 77.15. It touched a high of 76.31 and a low of 77.14 after opening at 77.29. (20:50 ET).
World commodity prices gains on Monday with the increase in Reuters Jefferies CRB Index by 0.53%.
TODAY'S VIEW: Today we may watch 6324-6325 level. If crosses decisively with volumes and hold 6350 level then we may make a new high. However, a minor support is around 6284-6285 level. If breaks 6285 and traded below this level, Nifty may go down till 6220-6230 level today itself.
SOME CALLS FROM DIFFERENT BROKING HOUSES:
SOME CALLS FROM DIFFERENT BROKING HOUSES:
FAIRWEALTH SECURITIES: Buy Tata Motors above Rs 1,280 for target of Rs 1,300-1,320 and stop loss of Rs 1,260.
Buy Karnataka Bank above Rs 206 for target of Rs 210-215 and stop loss of Rs 202.
Buy Indiabulls Real Estate above Rs 202 for target of Rs 205-208 and stop loss of Rs 198.90.
DERIVATIVE SEGMENT: Buy RIL futures above Rs 1,127 for target of Rs 1,141-1,155 and stop loss of Rs 1,113.
Sell Maruti futures below Rs 1,480 for target of Rs 1,460-1,440 and stop loss of Rs 1,501.
Buy Tata Steel futures above Rs 640 for target of Rs 648-656 and stop loss of Rs 632.
POSITIONAL CALLS FROM DIFFERENT BROKING HOUSES:
Emkay Global recommends 'Reduce' on State Bank of India (SBI) with a target of Rs 3,000 as against CMP of Rs 3,423.
Religare Securities recommends `Buy` on Engineers India with a target of Rs 400 as against CMP of Rs 346.
Religare Securities recommends `Buy` on Engineers India with a target of Rs 400 as against CMP of Rs 346.
ShareKhan recommends 'Hold' on Punj Llyod with a target of Rs 128 as against CMP of Rs 125.
