Daily trend of the market is down.
Market is indeed very volatile, We expected the market to take the support at 4000 level and rise, but the market instead became very volatile.The markets have become oversold at current levels. So it is better to be out of the market
Due to financial problems in Europe regarding Fortis and Bradford & Bingley, the Asian market as well as European markts tanked with the result most of the world markets were down. The positive sentiment with was supposd to come from the yesterday's overnight passing of 700 billion package partially by house of representative in USA was overshadowed by the probelms of European banks.Let us see whether today night Dow and Nasdaq can pull the market from the bearish sentiment and close higher.More details are coming out of the package and it is hopeful that the takeover of Wachovia by Citigroup sometime back should remove some uncertainity
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Percentage above support
Percentage above support is still below 50% (today it is 5 %) so we recommend that no delivery should be bought at current levels
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Stong Futures
This is list of 10 Strong Futures: Syndibank, Hindunilvr, Col Pal, Bpcl, Acc, Glaxo, Hero Honda, Itc, Hindpetro & Ongc.
Weak Futures
This is the list of 10 Weak Futures: Litl, Ivrprime, 31Infotech, Rajesh Expo, Kpit, Strtech, Aptecht, Niit Ltd, Hdil & Ranbaxy.
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