The preliminary reading of 49.6 for a Purchasing Managers’ Index released today by HSBC Holdings Plc and Markit Economics compares with a final figure of 50.5 in December and a 50.3 median estimate. A number below 50 indicates contraction .This has put the market in Asia in a tail spin, we now have to see if this effect is also passed on to India...metals need to be watched, rupee is to be carefully monitored for any sign of slippage.
Bank nifty has to break 11300 if we are to see some high levels before expiry, the resistance of 6350 is the one which is needed to break if we are to go higher. LNT seems to have good rating from various brokers, and may go long but what the market does could be entirely different.The markets will have a negative bias.
Bank nifty has to break 11300 if we are to see some high levels before expiry, the resistance of 6350 is the one which is needed to break if we are to go higher. LNT seems to have good rating from various brokers, and may go long but what the market does could be entirely different.The markets will have a negative bias.