Money Tree

GLOBAL MARKETS

US Markets

The consolidation phase of US markets changed and the Markets rallied on Friday with Nasdaq up more than 1 percent.

Dow Jones closed at 13326.22 up 111.09 points or 0.84 percent
Nasdaq Composite closed at 2562.22 up 28.48 points or 1.12 percent.

Europian Markets

The Europian Markets also closed in the green.

FTSE (UK) closed at 6565.70 up 41.60 points or 0.64% .
DAX (Germany) closed at 7479.33 up 64.01 points or 0.86%
CAC (France) closed at 6050.63 up 37.87 points or 0.63%

Asian Markets

The Asian markets closed mix with NIKKEI up about 1 percent.

NIKKI(JAPAN) closed at 17730.44 up 176.72 points or 1.01%.
HANG SENG (HONG KONG) closed at 20468.21 down 278.06 points or 1.34%.
KOSPI (SOUTH KOREA) closed at 1615.10 up 11.54 points or 0.72%.
STRAITS TIMES (SINGAPORE) closed at 3446.92 down 22.34 points or 0.64%.
SENSEX (INDIA) closed at 13796.16 up 24.93 or 0.18%.
NIFTY (INDIA) closed at 4076.65 up 9.85 or 0.24%.

FOREX

USD/ INR 41.22
EUR/ USD 01.35
USD/ JPY 120.20

GOLD (MCX)

8980/ 10gm

CRUDE

$62.41/ Bb

Today’s Market outlook

The markets have become very unpredictable. On friday after a huge gap down opening our markets recovered smartly and closed in the green. It seems that markets are not able to go higher as profit booking comes in around 4100 levels of NIFTY and ample liquidity in the system does not let the markets fall below 4000 levels.
It seems that our markets have become range bound and we need to cross the previous highs to keep an uptrend and if they have to correct, they need to breach this range decisively.
The US and Europian markets had posted good gains on friday and asian markets have opened very strong today. We expect a positive opening in the morning and NIFTY will have a strong resistance placed at 4100 levels.