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Today's Pre-Market Session - Stocks to Watch today
Updated -21 Nov 2008
Pre-Market Session
USA markets closed in RED.
NASDAQ closed down at 70.30 and DOW down at 444.99
Today morning, Majority of the Asian markets are trading in RED
The Indian markets
Inflation figures further declined to 8.90 per cent for the week ended November 8 from 8.98 per cent a week ago announced yesterday after market hours.
Following global markets, Indian markets are expected to open in negative but some short covering is expected at the lower levels during later part of the day.
Today’s Support and Resistance
Nifty
Support - 2450, after breaking this level the nifty is expected to move down another 50 to 100 points.
Resistance - 2550
This week outlook
Indian markets are expected to be directionless and volatile this week due to some vital following reasons.
1. Further steps of RBI to soften the FII investment.
2. G-20 meeting which started on Friday.
3. USA October PPI (producer price index) will be announced on Tuesday.
4. USA October CPI (consumer price index) will be announced on Wednesday.
Resistance - The major resistance is at 3000, if it sustains above this level then it is expected to go till 3100 or even higher.
Support - Nifty has major support at 2600, if it remains below this level then it is expected to move towards at 2500 or even lower.
Stocks to watch Today
Aditya Birla Minerals, a subsidiary of Hindalco Industries, has suspended work on the Ezperanza South Project at its Mount Gordon operations in Australia.
Hindustan Copper is expecting a 10% fall in production in the fiscal year to end-March 2009.
Alok Industries has suspended its textile special economic zone (SEZ) project at Silvassa in Dadra & Nagar Haveli.
Securities Commission of Malaysia has cleared Reliance Capital Asset Management Company to commence operations in Malaysia. The permission to Reliance Capital Asset Management Company for beginning operations in Malaysia was granted by the authorities two days ago.
Stocks for Traders
(Watch stock’s direction with support of buying and selling volumes and then decide your trade)
Top heavy Gainers with volumes above 10 Lakhs
Everonn Systems India Limited = 8.59% (5 lakh volume)
Top heavy Losers with volumes above 10 Lakhs
Amtek India Limited = -19.96 (2.1 lakh volume)
Unitech Ltd = -9.91 (1.93 crore volume)
Housing Development and Infrastructure Limited = -11.25 (1.44 crore volume)