All the major Asian indices closed in the positive territory except Shanghai Composite and Jakarta Composite. Japan`s GDP rose at an annualized 5% rate in the three months ended March 31 faster than the 4.9% reported last month. Positive trade data from China supported the sentiments, notwithstanding the weak closing in Wall Street in the overnight trades on Wednesday. European stocks edge higher on Thursday ahead of interest rate decisions by the European Central Bank and Bank of England. US Markets ended higher on Thursday will boost our Indian Markets also for today. SGX Nifty is trading at 5143 (52.50).
Domestic bourses extended their gains on the second consecutive day. As noticed in the past few trading sessions, the market pared its gains in late afternoon. But the case was different on Thursday as the indices managed to hold its early gains to close the session on a strong note.
The market breadth was highly constructive as advancing shares outdid the declining stocks twice.
Nifty June 2010 futures were at 5,090; at a premium of 11.40 points compared to the spot closing of 5078.60. Turnover in NSE's futures & options (F&O) segment was Rs 87,922.32 which is lower than Rs 93,058.52 crore on Wednesday, 9 June 2010.
FOR TODAY:: Nifty may zoom 5139-5146 as SGX is suggesting and if able to trade above 5146 with volumes and stays above this level for 5-10 minutes then we may even see 5183-5195 within a day or two.
IF YOU WISH TO GO SHORT, SHORT AROUND 5188-5198 LEVEL BUT REMEMBER MARKET TREND IS UP.
FOR STOCK:: WATCH RELIANCE INDUSTRY, RCOM, IFCI, JPASSOCIATES, SHREERENUKA, BANKNIFTY(GO LONG FOR A TARGET AROUND 9400)
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