Stock Market Tips for 3rd July 2007
July 3rd, 2007 by AnalystGLOBAL MARKETS
US Markets
The US Markets rallied yesterday on the back of good manufacturing data and Nasdaq gained more than 1 percent.
Dow Jones closed at 13535.43 up 126.81 points or 0.95 percent.
Nasdaq Composite closed at 2632.30 up 29.07 points or 1.12 percent .
Europian Markets
The Europian Markets closed negative yesterday with DAX losing more than half a percent.
FTSE (UK) closed at 6590.60 down 17.30 points or 0.26%. .
DAX (Germany) closed at 7958.24 down 49.08 points or 0.61%
CAC (France) closed at 6026.95 down 27.98 points or 0.46% .
Asian Markets
The Asian markets closed mixed on Monday with Hang Seng down 165 points.
NIKKEI(JAPAN) closed at 18146.3 up 7.94 points.
HANG SENG (HONG KONG) closed at 21772.73 down 165.49 point.
KOSPI (SOUTH KOREA) closed at 1771.35 up 27.75 points.
STRAITS TIMES (SINGAPORE) closed at 3550.34 up 2.14 points.
SENSEX (INDIA) closed at 14664.26 up 13.75 points.
NIFTY (INDIA) closed at 4313.75 down 4.55 points.
FOREX
USD/ INR 40.65
EUR/ USD 01.358
USD/ JPY 122.675
GOLD (MCX)
8662/ 10gm
CRUDE
$71.15/ Bb
Today’s Market outlook
Yesterday after opening flat our markets went up to make an all time high on Sensex but the gains could not be sustained and some profit booking and unwinding of long positions was seen in the last one hour of trade (as indicated by us in the morning yesterday) bringing down the markets into a negative territory and the markets closed flat yesterday. Today we have good global cues to start with, US markets have rallied yesterday and Asian markets have opened in the green today morning and we expect our markets to follow their asian peers and have a good positive opening. But it remains to be seen whether the gains on the back of global cues will be sustained or not. NIFTY has a strong resistance placed at 4340 and then at 4365 before it could tread forward to kiss 4400. some more profit booking will be seen on rallies as the investors would like to book profits before the first quarter earnings figures start coming in and we again recommend to book profits and wait for an opportunity to re enter at lower levels. The crude keeps rallying and has risen above $71/Bbl, the outlook on the future is looking bullish and it may touch $72 per barrel mark very soon. Keep an eye on the rising crude prices as it has an inverse relationship with equity markets, the experts seem to have been ignoring this aspect as we do not hear any fears on this count from any experts but it might be of concern as it rises further. The rupee also keeps its rally intact and now is very close to its very strong resistance of 40.50 levels and if this level is crossed this time it may rally further to breach Rs.40 mark very soon.
Posted in Daily Tips |
July 3rd, 2007 at 10:15 am
Hi
Your blog is quite nice and informative.
As far as stock market is concerned. Trading in market requires
both time and Knowledge. Without these two factors its impossible to trade .
If you get recommendations from some specialist then also you must keep in mind its your money you
should invest it wisely. Its always advisable to get recommendations from analyst but again before investing you should do your research also.
Indian stock market is very high already now wait for dips before going long in Nifty or in some script.
We are bullish on Indian stock market to reach new highs.. Sensex is due to kiss 15000 mark in just one month. So count on us.
We hope it has given idea that you dont have to short your positions, Just hold them for a while to see real upmovement.
If you have any Query please feel free to contact us.
BEST BUY- BUY INFOSYS and keep it for long term its target is 4000 in long term. If you want to know reason contact us.
Regards n love
Sharetipsinfo team