Daily trend of the market is down.
The problem of Europe especially Iceland kept the markets down in Europe, which resulted in Indian Stock Market to remain under pressure and thereby not reacting to the positive steps like CRR reduction and P Notes relaxation. Markets are expected to remain sideways and consolidate for some time before they take their next direction. Overall trend of the World Stock Markets is down though a counter rally cannot be ruled out. Gold remains bullish and even crude is taking a counter rally. If Dollar Index reacts from 80-81 levels then a further rally in Gold and Oil is expected
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Percentage above support
Percentage above support is still below 50% (today it is 4%) so we recommend that no delivery should be bought at current levels.
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Strong Futures
This is list of 10 Strong Futures:BPCL,Tvs Motor, Hero Honda,Union Bank, Moser Baer,PNB,Ntpc Ltd,Lupin, BOI,Hindustan Unilev.
Weak Futures
This is the list of 10 Weak Futures: Larsen & Toubro, Niit Limited, JSW Steel, S Kumars,Bombay Dyein, HDIL,Aptech Training,Sobha,3I infotech ,STERLITE
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