Market Summary on 7th Friday

I have posted the Market summary on 7th September,2012

 

THE MAJOR WORLD INDICES ON 7^th FRIDAY

Nikkei	8,871.65	+191.08	+2.20%
Hang Seng	19,802.16	+592.86	+3.09%
Sensex	17,749.65	+65.92	+0.37%
DOW	13,306.64	+14.64	+0.11%
S&P 500	1,437.92	+5.80	+0.40%
NASDAQ	3,136.42	+0.61	+0.02%
FTSE 100	5,794.80	+17.46	+0.30%
DAX	7,214.50	+47.17	+0.66%
CAC 40	3,519.05	+9.17	+0.26%

MARKET SUMMARY  ON 7^th FRIDAY (NSE Data)

NIFTY	5342.1
JUNIOR	10057.9
NSEDEFTY	3340.7
NSE500	4195.75
NSEMIDCAP	7203.1
NSEIT	6342.7
BANKNIFTY	10122
MIDCAP50	2033.7
NSEESG	3353.1
NSESHARIAH	1196.74
SHARIAH500	1276.7
NSEINFRA	2268.3
NSEREALTY	204.3
NSEENERGY	7766.75
NSEMNC	5564.3
NSEPHARMA	5680.85
NSEPSE	2862.7
NSEPSUBANK	2776.3
NSESERVICE	6324.65
NSEFMCG	13660.75
NSE100	5208.4

Currency pairs trading at MCX

Currency pairs trading at MCX

	EURINR-I	GBPINR-I	JPYINR-I	USDINR-I
R3	70.7817	89.2567	71.3425	55.9767
Mid R3	70.7088	89.1663	71.2288	55.9250
R2	70.6358	89.0758	71.1150	55.8733
Mid R2	70.5900	88.9138	70.9050	55.7875
R1	70.5442	88.7517	70.6950	55.7017
Mid R1	70.4713	88.6613	70.5813	55.6500
Pivot	70.3983	88.5708	70.4675	55.5983
Mid S1	70.3525	88.4088	70.2575	55.5125
S1	70.3067	88.2467	70.0475	55.4267
MID S2	70.2338	88.1563	69.9338	55.3750
S2	70.1608	88.0658	69.8200	55.3233
Mid S3	70.1150	87.9038	69.6100	55.2375
S3	70.0692	87.7417	69.4000	55.1517

Except Euro all the other currencies have lost some value. All currencies were trading in overbought zone and one could expect selling to happen. So nothing new with the change in price. The point to note is there could be further drop in values as we learn from the charts  at lease for few trading sessions. Traders should be watchful of Nifty’s movement which has a correlation with USD. If Nifty meets a stiff resistance the currencies could stage a comeback and rise again. Therefore a cautious approach is needed.

Happy trading!