Thursday, 9 May 2013
The Market outlook for the day of 9th of May
Today the world markets performed well especially the Swiss Market which rose 1.45%. IN THE Asia pacific region the Hang Seng Index gained 0.86% and the Nikkei 225 gained 0.74%. in the American market the DOW is now the 15000 range which is also a good factor for other world market as well as our own share market.
Prominent Shares that were up with good volumes in our market are as follows: INDIAINFO – 13.9%, AJANTPHARM – 12.3%, HINDOILEXP – 8.1%, CORPBANK – 6.6%, IBREALEST – 4.7%, VIPIND – 3%, LUPIN – 2.3%, ITC – 2.2%, M&MFIN – 2.1%
The new resistance level for Nifty is at 61014 and 6125. These levels are important for the Nifty to prove its strength. The Nifty can be bought above 6084 for the targets of 6100, 6120, and 6140. On the lower side, shorting can be attempted only below 6065 for the targets of 6048, 6029, and 6009. Shorting the Nifty at this time is not advisable.