Dear Traders,
As I said in earlier post Nifty is facing Resistance at higher levels or Profit booking. In the earlier hours Indian MKT traded almost Flat but in end of the day selling pressure led it to Close on weak Note.
Stock-specific action may rule the roost in the near term based on expectations of Q4 March 2010 results.Data on Wednesday, 31 March 2010, showed private-sector employment declined in the month. Asian stocks rose to an 11-week high on Thursday, 1 April 2010, as China's manufacturing industry picked up and foreign buying boosted the technology-heavy markets of Taiwan and South Korea.
Closer home, cement and steel stocks will be in focus as companies from these sectors announce their March 2010 sales figures.
Fear Factor In MKT
The cyclical heating of the Pacific Ocean known as El Nino will continue to fade, US forecasters said this month. The weather event, which occurs every four to seven years.
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