Archana’s Analysis: I think down rally is being started again as global cues are negative right now. Market will trade in negative terrain with 400-500 pts down on sensex and 150-200pts down on nifty. Market is sentimental and will see heavy selling today. US, European and Asian market were down yesterday and we will see gap down opening today. Crude is come down in red, i.e, $37.24/barrel. I think only this news is positive right now rest recession has swallowed the world.
Market will trade weak today in fact will worsen the condition. After Satyam, its now Wipro which is under surveillance. Worldbank had barred them for 5 years, for not providing proper documents. IT stocks will be down today, and of course much depends on Infosys quarter results too.
Market Closing (12th Jan):
Sensex: 9110.05 -3.15%
Nifty: 2773.10 -3.60%
Predictions for todays trading:
Market Opening ( 13th Jan):
Sensex: 8980
Nifty: 2720
Market Closing (13th Jan):
Sensex: 8650
Nifty: 2620
Today’s Stock Watch: Oil and Gas, IT stocks and Banking sector.
January 27, 2009 at 7:33 pm
Hi Mike
Current trends will continue for another 6-9 months. Even i do agree with that market will find some stability by mid this year. But looking at few unfolded mysteries in organization globally makes it more radical that market will start picking up in August-September. It will gain little stability in June but will come on track in sep-oct. Looking at global condition, i think it will take time to sustain the stabilty. In between bull rally will add good sentiments to the market.