The market may witness cautious trend as US indices were closed on account of Memorial Day and Asian indices are exhibiting mix trends in the morning trades. Although the bias remains positive, investors should maintain caution as profit taking at higher levels may pull down the market. Among the local indices the Nifty could test 4200 and 4150 on the downside while on the upper side it may move up to 4300. The Sensex has a likely support at 13750 and may face resistance at 14050.
U.S. financial markets are closed Today for the Memorial Day holiday, while British markets are also shut for a bank holiday.
Daily trend of FII/MF investment in equities
On May 22 2009, FIIs were net sellers of stocks to the tune of Rs695 crore (purchases worth Rs2412 crore and sales of Rs3107 crore).
Stocks with +ve bias: Neyveli Lignite (SL 129), Suzlon (SL 87), REC Ltd (146)
Stocks for Short Term delivery: Orbit Corporation
Stocks for Investment: Man Industries, Godrej Consumer, BEL, Orient Paper
Important Results : Tata communications.
Tuesday, May 26, 2009
Market likely to open flat
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