Money Tree

GLOBAL MARKETS

US Markets

The US Markets were down almost 1 percent yesterday.

Dow Jones closed at 13545.84 up 56.42 points or 0.42 percent.
Nasdaq Composite closed at 2616.96 up 17.00 points or 0.65 percent .

Europian Markets

The Europian Markets closed flat to positive yesterday with DAX gaining about 0.7 percent.

FTSE (UK) closed at 6596.00 down 53.30 points or 0.80%. .
DAX (Germany) closed at 7964.71 down 125.78 points or 1.55%
CAC (France) closed at 6029.79 down 63.50 points or 1.04% .

Asian Markets

The Asian markets were less or more strong yesterday with Indian markets leading.

NIKKEI(JAPAN) closed at 18240.3 up 28.62 points.
HANG SENG (HONG KONG) closed at 21954.67 up 270.00 point.
KOSPI (SOUTH KOREA) closed at 1794.24 up 10.45 points.
STRAITS TIMES (SINGAPORE) closed at 3639.49 up 10.82 points.
SENSEX (INDIA) closed at 14499.24 up 87.29 points.
NIFTY (INDIA) closed at 4267.4 up 18.75 points.

FOREX

USD/ INR 40.71
EUR/ USD 01.33
USD/ JPY 123.66

GOLD (MCX)

8660/ 10gm

CRUDE

$68.65/ Bb

Today’s Market outlook

We are now moving close to the June F&O expiry and markets are expected to be more volatile till the coming thursday. US closed positive yesterday and Asia has opened mixed with NIKKEI down almost 130 points as Yen depreciated further against dollor yesterday. Our markets might open flat and then try to touch 4300 for NIFTY but a strong resistance is placed at 4290 levels and some selling may be witnessed at these levels. On the downside a strong support exists at 4240 and then at 4225 which will be defended strongly by the bulls.

Stocks to watch

RNRL

Yesterday as per a decision of High Court Reliance Industries will not be able to sell gas from the KG Basin to third parties and this will benefit directly to the Reliance Natural Resources Ltd. The stock was closed at Rs. 34 yesterday, there should be some upward movement in the counter on back of the news.

S Kumars Nationwide

The stock has been in an uptrend for quite some time and it has seen some good rollover figures in F&O segment. Yesterday the stock was closed at Rs. 89.60, the stock can be bought at these levels with a stop loss of Rs. 86. A strong resistance is placed at Rs. 96 and once crossed this level and psychological level of Rs.100 the stock can rally up to Rs. 120 in the short term span of 1 to 3 months. The stock is also a good long term buy.