Market outlook

• SGX Nifty: 11627 (-0.50)
• Dow Jones:25733.6 (-88.69)
• Hangseng: 27703. (-219.58)
• Brent Crude:74.66 (-0.12)
• US Dollar Index: 95.33 (+0.33)

Morning update

• SGX Nifty: 11586 (+2)
• Dow Jones:25758.69 (+89.37)
• Hangseng: 27722 (+123.98)
• Brent Crude:72.16 (-0.05)
• US Dollar Index: 95.46 (-0.22)

Morning update

• SGX Nifty: 11523 (+45)
• Dow Jones:25669.32 (+110.59)
• Hangseng: 27424 (+210.59)
• Brent Crude:71.48 (-0.35)
• US Dollar Index: 96.06 (+0.06)

Morning update

• SGX Nifty: 11419 (-3)
• Dow Jones:25162.41 (-137.51)
• Hangseng: 27185 (+84.94)
• Brent Crude:71.36 (-0.07)
• US Dollar Index: 96.46 (-0.02)

Morning update

• SGX Nifty: 11407 (-27)
• Dow Jones:25162.41 (-137.51)
• Hangseng: 27132 (-191.59)
• Brent Crude:70.95 (+0.19)
• US Dollar Index: 96.48 (-0.11)

Morning update

• SGX Nifty: 11395 (+5)
• Dow Jones:25187.70 (-125.44)
• Hangseng: 27795(-141.57)
• Brent Crude:72.91 (+0.30)
• US Dollar Index: 96.16 (0)

Morning update

• SGX Nifty: 11372 (-59.5)
• Dow Jones:25313.14 (-196.09)
• Hangseng: 27834 (-532.62)
• Brent Crude:72.64 (-0.17)
• US Dollar Index: 96.28 (+0.09)

Morning Update

• SGX Nifty: 11486 (-2)
• Dow Jones:25509.23 (-74.52)
• Hangseng: 28498 (-109.3)
• Brent Crude:72.11 (+0.04)
• US Dollar Index: 95.40 (-0.06)

Morning update

• SGX Nifty: 11485.5 (+7.5)
• Dow Jones:25583.75 (-45.16)
• Hangseng: 28590 (+230.86)
• Brent Crude:72.53 (+0.25)
• US Dollar Index: 94.94 (-0.04)

Morning update

• SGX Nifty: 11425.5 (-1)
• Dow Jones:25628.91 (+126.73)
• Hangseng: 28287 (+28.12)
• Brent Crude:74.66 (+0.01)
• US Dollar Index: 94.97 (-0.03)

Morning Update

• SGX Nifty: 11431 (+1)
• Dow Jones:25502.18 (+39.60)
• Hangseng:28033.18 (+213.62)
• Brent Crude:74.01 (+0.26)
• US Dollar Index: 95.16 (-0.03)

Morning update

• SGX Nifty: 11437.50 (+40)
• Dow Jones:25462.58 (+136.42)
• Hangseng:27962 (+285.62)
• Brent Crude:73.47 (+0.11)
• US Dollar Index: 95.05 (+0.02)

Market outlook

Yesterday on Nifty "Bearish Doji Evening Star"was formed which is bearish sign and this will reverse the trend. Trend reversal will be confirmed once market opens gap down or on lower side.

RIL results are not as per the expectations and Goldman Sachs on Thursday cut its India growth forecast to 7.8 percent from 8.7 percent for this fiscal year.

Market - Post RBI rate Hike

As per expectation RBI hiked rates by 25 basis, but still inflation is worry & RBI hinted another rate hike next month. So resistance 5600 looks still looks intact for nifty. Now it depends upon severeness of Japan's N plant problem and disturbance in Middle east, our market will decide the direction.

Debt problem in Europe is also not improving, last week Spain & this week Portugal downgraded.

2G scam FIR will be filed on 31st March. So lot of negative news are flowing in our market & international market. Nifty is showing support at 5400 level because we have fallen much than other markets since Jan 2011. Yesterday's drop in Dow Jones and dollar hitting all time low against yen Since 1995 are negative developments. There are possibilities of more cash flowing to Japan for development & rebuilding work.

Oil Min says no plan to regulate petrol 'for now'

The Oil Ministry is mulling to regulate petrol prices again, reports NewsWire18, quoting a source in the ministry. The official said that regular petrol price hike is 'untenable'.

However, the oil ministry said there was no plan to regulate petrol prices "as of now".

Market Tomorrow

Monday market will start with additional uncertainty created by DMK .Volatility in the Indian market is going to increase with statements from Congress & DMK and international news on Libya. Though Govt. is not in minority, market dislikes any uncertainty. Govt. is surrounded by various scams, political uncertainty. This week SC slammed on issues of Hasan Ali & Thomas. Last 2 months' IIP data is on lower side.

Violence in Libya is increasing everyday, maintaining Crude above $100 constantly. Friday crude future closed above $ 104.As long as crude remain high, upside is limited.

Do not forget Europe, debt issue is still not resolved. On Friday, Fitch cut Spain's rating to negative from stable, so recovery in Europe is still fragile. US (Dow & Nasdaq) & European markets (FTSE, DAX, CAC) are near sell zone.

So keep stop loss of 5600-5625 on nifty & remain short.

Market Today

Nifty has resistance at 5600-5625. On last day of the week, traders will not create fresh long position unless there is some positive news from Libya. Crude is still trading above $ 102. As long as nifty is below 5600-5625, keep short position on nifty open.

Expiry

• As posted on 23rd , nifty saw free fall, once it came below 5400
• Nifty may touch 5000, once it breaks 5178, so keep short position on nifty with stop loss of 5500 in March
  

Market cue

• US Markets slip last night- Dow Jones (-1.44%) Nasdaq (-2.74%), but they were closed on Monday, so may be impact of 2 trading sessions
  
• Asian market trading in red
  
• SGX Nifty - 26 (5450)
• Negative factors - Libya tension escalating, caused NYMEX Crude to rise above $95
• Support is near 5400. Once it breaks 5400, expect panic selling
  
• FIIs are net sellers
  
• Trading guidance - go short on nifty with sl of 5500
  

Market Tomorrow

• Today we saw smart recovery in last hour of trading, good to see nifty closing above 5500 & nifty future in premium
• Nifty will again try to touch 5550 tomorrow, if it breaks 5500 go short. If nifty crosses 5600, go long
  
• Positive news - RIL BP deal
  
• Negative news - Turmoil in Libiya, jump in international crude price by 5.88%, sharp cuts in European markets, Spanish market closed down by 2.33%, Italian index down by 3.59%