1st march market news and stock market strategy, stock market Trend for 3rd march 2011
RESISTANCE: It has first resistance close to the level of 5590 & above this level the next resistance is seen near the 5715 mark.
SUPPORT: It has first support close to the level of 5375 & below this level the next support is seen near 5300 mark.
Indian equity benchmarks witnessed the biggest rally on the second day after the budget especially on stabilized crude oil prices, short covering by FIIs, lower-than-expected fiscal deficit and the borrowing program set by the government for FY12. The 50-share NSE Nifty gained 189.05 points or 3.54%, to settle at 5522.30. The 30-share BSE Sensex shot up 623.10 points or 3.5%, to close at 18,446.50, after gaining 655 points in an intra-day trade.
In the opinion of Deven Choksey, MD of KR Choksey Shares and Securities Pvt. Ltd., the market needs to carefully observe the structural changes that are happening on the fiscal deficit and subsidy front. According to him, if management of fiscal deficit and subsidy is taken care of, then the markets can witness increased amount of confidence and stability including the fact that the budget is growth-oriented. for Free commodity tips
SUPPORT: It has first support close to the level of 5375 & below this level the next support is seen near 5300 mark.
Indian equity benchmarks witnessed the biggest rally on the second day after the budget especially on stabilized crude oil prices, short covering by FIIs, lower-than-expected fiscal deficit and the borrowing program set by the government for FY12. The 50-share NSE Nifty gained 189.05 points or 3.54%, to settle at 5522.30. The 30-share BSE Sensex shot up 623.10 points or 3.5%, to close at 18,446.50, after gaining 655 points in an intra-day trade.
In the opinion of Deven Choksey, MD of KR Choksey Shares and Securities Pvt. Ltd., the market needs to carefully observe the structural changes that are happening on the fiscal deficit and subsidy front. According to him, if management of fiscal deficit and subsidy is taken care of, then the markets can witness increased amount of confidence and stability including the fact that the budget is growth-oriented. for Free commodity tips
RESISTANCE: It has first resistance close to the level of 5590 & above this level the next resistance is seen near the 5715 mark.
SUPPORT: It has first support close to the level of 5375 & below this level the next support is seen near 5300 mark.
Indian equity benchmarks witnessed the biggest rally on the second day after the budget especially on stabilized crude oil prices, short covering by FIIs, lower-than-expected fiscal deficit and the borrowing program set by the government for FY12. The 50-share NSE Nifty gained 189.05 points or 3.54%, to settle at 5522.30. The 30-share BSE Sensex shot up 623.10 points or 3.5%, to close at 18,446.50, after gaining 655 points in an intra-day trade.
In the opinion of Deven Choksey, MD of KR Choksey Shares and Securities Pvt. Ltd., the market needs to carefully observe the structural changes that are happening on the fiscal deficit and subsidy front. According to him, if management of fiscal deficit and subsidy is taken care of, then the markets can witness increased amount of confidence and stability including the fact that the budget is growth-oriented. for Free commodity tips
SUPPORT: It has first support close to the level of 5375 & below this level the next support is seen near 5300 mark.
Indian equity benchmarks witnessed the biggest rally on the second day after the budget especially on stabilized crude oil prices, short covering by FIIs, lower-than-expected fiscal deficit and the borrowing program set by the government for FY12. The 50-share NSE Nifty gained 189.05 points or 3.54%, to settle at 5522.30. The 30-share BSE Sensex shot up 623.10 points or 3.5%, to close at 18,446.50, after gaining 655 points in an intra-day trade.
In the opinion of Deven Choksey, MD of KR Choksey Shares and Securities Pvt. Ltd., the market needs to carefully observe the structural changes that are happening on the fiscal deficit and subsidy front. According to him, if management of fiscal deficit and subsidy is taken care of, then the markets can witness increased amount of confidence and stability including the fact that the budget is growth-oriented. for Free commodity tips
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