NIFTY SUPPORT AT 4200

After opening positive on the back of healthy cues from Asian markets, the Indian stock market continued to slip right till the final hour of the trade on extensive profit booking. The Sensex lost 77 points while Nifty ended 51 points lower. Mid-cap and small-cap stocks also ended the day on a feeble note. Nifty today tried to knock the hurdle of the 40-hourly exponential moving average, which did not materialise. However the support of 20-hourly simple moving average continued. So the outlook remains bullish with support around 4200. The overall advance to decline ratio was positive on the NSE with 662 advances and 595 declines.

Markets to open positive today

With Congress emerging a biggest party and left paries losing ground, The stage is all set for Indian stock market to open in green and prosper in longer term.

Phewww

The markets today hailed the return of the UPA to power with the BSE benchmark Sensex and NSE’s Nifty hitting the upper circuit within a minute of opening of trade, following which trading halted for an hour.

The 30-share Bombay Stock Exchange Sensex zoomed 1,305.97 points or 10.73 per cent at 13,479.39, while the National Stock Exchange 50-share Nifty increased 600 points or 14.48 per cent at 4,271.40.