Nikkei had an intermediate support at 16175, which it had broken and is around 16158 levels. We expect another 200 points fall in Nikkei which could happen tomorrow and currently DOW is already down around 140 points.
If Dow closes in -ve, we should see a similar effect on our markets as well, that is Sensex, and we might see a correction of around 2% in Sensex as well by tomorrow; this is a possibility from our end, right now its 10:55pm India time, and Dow closes at 1:30am indian time, so if Dow closes in +ve then this effect may not happen, but again as said earlier, Nikkei has broken its important support, so things dont look good right now.
Nifty is showing resistance at 4500-4510 levels.
Wednesday, September 5, 2007
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- DLF looking good for another upside!
- Expect market to touch 5000 by Friday!
- Expect Nifty to touch 4750-4820 levels today!
- Fed News will give the direction!
- Nifty showing weakness at 4520-4530 range!
- Expect market to be rangebound,or a little upside!
- 900bn USD credit card debt on US!
- Nikkei has broken an important support! Dow in neg...
- Nifty looking weak at highs,expect some surprises!
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