The Index broke the resistance of 6330 in futures, but could not cross the 350 level in spot nor sustain much over the 340 level.This is the upper region of the band 6150 to 6350 in which the nifty has been moving back and froth for the last few months.This level to be broken will need a lot of effort and positive triggers.Till now we have seen mediocre triggers which just about managed to push the nifty to the upper level but not able to sustain.
The major trigger will be the result of LNT in the morning, which has been better than expected, but the guidance which is the key has been lowered from 20 to 15 percent which will throw a damper on the market.We will have to wait and see how the market will accept this guidance, which does not augur well for the company.
The DIJA has crashed for the second day in a row this week, Monday being a holiday.Now the more than anticipated level of bad results hitting it hard.Europe lost all the gains which it had when it opened.Now this is the contagion effect, which might spread to Asia and the China bail costs are also jumping.
The major trigger will be the result of LNT in the morning, which has been better than expected, but the guidance which is the key has been lowered from 20 to 15 percent which will throw a damper on the market.We will have to wait and see how the market will accept this guidance, which does not augur well for the company.
The DIJA has crashed for the second day in a row this week, Monday being a holiday.Now the more than anticipated level of bad results hitting it hard.Europe lost all the gains which it had when it opened.Now this is the contagion effect, which might spread to Asia and the China bail costs are also jumping.