morning update at 8 am 03 dec 09
perhaps wednesday was destined to be a flat day for most of the markets. Dow closed slightly red with 18 points. European markets too closed flat with uk ftse up by only .3%. Brazil too closed flat with only .3% up.asian markets have opened mixed & may remain mixed with some rising and some falling today with chinese & hong kong correcting.
For indian markets, there is every possibility of remaining within the range of wednesday with a +ve bias. Any pause or intraday correction should be fully used by medium to long term investors to quietly keep on accumulating badly beaten down stocks in sectors of metals, power, infra, pharma, biotech & now telecom for very good gains.
Well dow has closed in the red with 18 points only. Had it closed about 50 to 70 points in red then there was every possibility of a good contrarian upward break out move in asian & indian markets today. In any case one should be mentally prepared to see a good break out upwards in a day or two for new yearly highs by early next week. For thursday, intraday traders may trade long in case nifty spot crosses 5147 and trade short in case nifty spot trades below 5111 for quick gains.
perhaps wednesday was destined to be a flat day for most of the markets. Dow closed slightly red with 18 points. European markets too closed flat with uk ftse up by only .3%. Brazil too closed flat with only .3% up.asian markets have opened mixed & may remain mixed with some rising and some falling today with chinese & hong kong correcting.
For indian markets, there is every possibility of remaining within the range of wednesday with a +ve bias. Any pause or intraday correction should be fully used by medium to long term investors to quietly keep on accumulating badly beaten down stocks in sectors of metals, power, infra, pharma, biotech & now telecom for very good gains.
Well dow has closed in the red with 18 points only. Had it closed about 50 to 70 points in red then there was every possibility of a good contrarian upward break out move in asian & indian markets today. In any case one should be mentally prepared to see a good break out upwards in a day or two for new yearly highs by early next week. For thursday, intraday traders may trade long in case nifty spot crosses 5147 and trade short in case nifty spot trades below 5111 for quick gains.